HR professionals are putting a greater focus on how their policies and practices impact one another and ultimately
drive the performance of employees and the business — from retirement planning to talent management, healthcare,
benefits and compensation. When it comes to healthcare and benefits, a particular area of interest is understanding
and customizing plans to meet the unique needs of the workforce. And women’s health is emerging as a big
topic in
this space.
“There is a misconception among some business leaders that women’s health issues only affect women,” says Rafeena
Ally, vice president of global benefits at Aon. “But that’s not true. Companies have a lot of male leaders, and they
need to be part of the conversation from an awareness perspective.”
Ally adds that if 20 percent of a company’s population is going through menopause or struggling to start a family and
not feeling supported, absenteeism may be higher, more employees will be disengaged and some will likely quit. Those
costs add up. Indeed, new research1 from Harvard Business School analyzes the underlying cost of not
supporting
caregivers in the workplace. If sufficient caregiver support prevented five employees from quitting, it could save a
company $200,000, assuming employees earn an average salary of $80,000 and carry a replacement cost of 50 percent.
“Saving money can be defined in a million ways,” notes Meredith Warton, vice president of health innovation and
integrated solutions at Aon. “Not only can better benefit design and support programs impact employee productivity
in a positive way, but you can also leverage the healthcare system in a way that eliminates waste or reduces
ineffectual or inappropriate care.”
While significant progress has been made to improve health and wellbeing worldwide, many individuals and communities
continue to be left behind. Discrimination, human rights abuses, poverty and other determinants of health contribute
to health inequalities,2 often hindering personal health choices.
Women’s Health Challenges
The current healthcare landscape presents three big challenges related to women’s health:
Such a large gender bias indicates an unintentional income gap for working women. To help combat this, employers
should examine benefits to make quality healthcare more accessible and affordable for female employees, while also
addressing broader reward inequities and workplace culture and support deficiencies.
The Impact of Menopause on Women and the Workplace
Menopause is an important phase in life where women go through significant biological changes. The changes in
hormones affect the body, sleep patterns and mental health. Health risks, such as cardiovascular disease, increase
significantly after menopause. At the same time, this is typically a period in life where women balance children,
care for elderly family members and work.
Menopause support was not openly discussed in the workplace, even among HR professionals, until the past five to 10
years. And still, there is a society-wide lack of awareness and understanding that needs to change. Employers are in
an ideal position to lead the charge on this by creating nurturing and open workplace cultures where women feel
supported to talk about their symptoms. Companies should also offer flexible working options, accommodations and
benefits to alleviate menopause-related health issues.
Menopausal women are the fastest growing workforce demographic, yet nearly half don’t feel comfortable disclosing
their status at work. Three in four women experiencing symptoms, translates to global menopause productivity losses
of more than $150 billion a year.6