Edcor Newsletter March 2024 | Edcor

Edcor Newsletter March 2024

Edcor Newsletter
March 2024

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Education Benefits highly impact your Diverse Workforce

March is known for International Women’s Day – a day when social media feeds are flooded with how far women have come and what organizations are doing to help their diverse workforce, especially women. It’s the year 2024, yet the latest report by The World Bank shows a wider-than-expected gender gap globally on how the scales are still unbalanced leaving women heavily disadvantaged.

The bittersweet reality remains that each year 28% of women leave the workforce to be primary caregivers to children, compared to 10% of men. While the benefits of being a working mom are great, they also come with certain burdens. The majority of the women who stay in the workforce, downshift, or do not take challenging roles to balance the demands on their time.

The Bureau of Labor Statistics reported that 2.4 million women left the workforce during the pandemic to shoulder the burdens of childcare, elderly care, and household responsibilities. Women were worse off due to a lack of childcare during the pandemic – 59% of unemployment claims were from women in the first weeks of the pandemic, despite them being only half of the labor force. According to a study by SHRM, men have gained all jobs lost during the pandemic but women are still short by 1.8 million jobs lost since Feb 2020.

Together with allowing for flexible schedules, remote work, and onsite or nearby childcare support, Education benefits can play a strategic role in uplifting women at work and bringing the women who took a break back into the workforce. Since Diversity, Equity, and Inclusion (DEI) remains a priority for Fortune 500 CEOs and beyond, Corporate America should anchor the DEI strategy in education benefits.

Click on Learn More to keep reading how each of the education benefits would help.

Edcor is a women-owned and women-run organization that values diversity and excels in bringing varied mindsets to the table. Goes without saying, our client focus and service orientation are our key strengths. Edcor is certified as a Women’s Business Enterprise (WBE) and a Woman Owned Small Business (WOSB) by the Women’s Business Enterprise Council – Great Lakes, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC).  We participated in the WBENC conference again this year, met many like-minded business owners, and brought various thought-provoking ideas back to the drawing board to better serve our Clients. One of the points that hit hard was that women-owned businesses make up 39.1 % of all businesses across the U.S. but still suffer from disparities in revenue and capital compared to other businesses.

Among others, one of the pertinent solutions to help women at work is to provide them with the tools to excel and remove barriers along the way. Education benefits – Tuition Assistance, Student Loan Repayment Assistance, and Scholarships – help with upskilling and reducing the unspoken financial burdens that this diverse workforce faces and struggles with. Reach out to Edcor to learn more. 

Let’s future together!   

Adrienne L. Way, Edcor Owner, President, and CEO

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