According to a new survey, the Great Resignation is far from over. While workers continue to look for better pay or benefits, parents lead the pack of those seeking opportunities with a new employer.
The study of 493,082 working parents from Maven Clinic, a virtual clinic for women's and family health, and Great Place to Work, a company that rates workplace culture, found that young parents are looking for personalized support, fairness and inclusivity, all of which could reduce their likelihood of leaving their current job.
Who is feeling burnout?
The coronavirus pandemic ushered in a period of increased stress for all workers, but recent studies point to a heavier burden for certain members of the workforce, including parents.
In an October survey on workers' mental health, parents reported being feeling "in crisis" or having concerns about their mental health at nearly three times the rate of other workers, and were twice as likely to report serious physical health issues or concerns that they would develop chronic problems.
Other studies show that women with children and women of color have been more severely impacted by the pressures of the pandemic. The Maven Clinic/Great Place to Work survey supports findings that mothers in certain groups have experienced a disproportionate impact. According to the survey, these are the groups reporting the highest rates of burnout:
- 25% of working parents are suffering from burnout
- Black mothers are most likely to experience burnout (47%), followed by Asian mothers (33%) and Latinx mothers (23%)
- Parents between the ages of 26-34 working hourly roles are 200% more likely to experience burnout
A separate study from Schwab Retirement Plan Services, reiterates the reality of financial stressors on younger workers. Their survey found that financial stress caused by the pandemic had disproportionately affected the ability of Gen Z (44%) and millennial (38%) workers to do their jobs over the past year, compared to a smaller percentage of the overall workforce (24%). Considering their ages, it's possible that many of the respondents were working parents.
What are companies doing to respond?
In September of 2020, a separate study confirmed that nearly half of working mothers and more than one-third of working fathers reported having no knowledge of any plans by their employer to help with child care. Of those who did have a child care benefit (42%) said they feared their job would be at risk if they took advantage of the benefit.
But child care and other support for parents is likely to increase working parents' satisfaction with their current employer. According to Great Place to Work, the best-ranked workplaces provide the following "special and unique" benefits:
- Fertility programs (75%)
- Adoption support (66%)
- Egg-freezing coverage (58%)
- Subsidized child care expenses (44%)
- Surrogacy coverage (43%)
Companies that offered these services actually saw a reduction in burnout rates from 2020 to 2021, were twice as likely to retain parents, and according to the study, have the potential to see 5.5 times more revenue growth.
In addition to offering the benefits listed above, Great Place to Work says that employers can more successfully retain parents by creating an empathetic work environment that is both psychologically safe and accepting of who parents are.
Methodology: Great Place to Work® analyzed data from survey questions answered by 493,083 working parents, 979,432 total employees and from program and benefit information provided by 1,731 employers.