How Nobel-Winning Research Guides Women’s Empowerment at Work

Oct 24, 2023

On October 9, economist Claudia Goldin became the third woman to ever win the Nobel Prize in Economics. Her groundbreaking research on labor economics—and specifically, the challenges that women face in the workforce—shed much-needed light on issues faced by millions of Americans. Goldin’s Nobel-winning research should be used as a guide for employers to empower the women in their workplaces.

 

The Gender Pay Gap

Some may see the gender pay gap as an unavoidable burden. If we haven’t fixed it by now, how can we? Yet Goldin’s research can help employers identify disparities within the industries that are more affected by the gap. Employment Enterprises works to help our clients in high-pay-gap sectors identify and remedy this issue. By providing comprehensive wage gap analysis, we can help our clients shape their hiring and compensation procedures to level the playing field.

 

Human Capital and Occupational Segregation

Goldin’s research suggests that more women should pursue training in male-dominated fields. As a recruiting firm, we help employers source diverse talent pools—we search for the best skills and culture match for the company and position. This not only empowers women in the workplace, it also enhances our clients’ competitiveness! Diversifying leadership teams has specifically been shown to enhance innovation and business performance. Our executive search team excels in matching candidates to roles in traditionally underrepresented areas.

 

Flexible Work Arrangements

Much has been written on the return to the office as opposed to remote work. But flexible work arrangements go beyond where people work and extend to when, how, and even why. Our clients that look to attract and retain women in the workforce must understand the importance of flexibility. Goldin’s work shows that while achieving work-life balance is a priority for all workers, it impacts women moreso than men. By adopting family-friendly policies, employers can create inclusive work environments that empower women. Employers will see the returns in reduced turnover and higher employee retention among women.

 

The Motherhood Penalty

Addressing the motherhood penalty is another area where Goldin’s research can guide employers. Her work highlights the long-term consequences of motherhood on women’s careers. As our clients implement policies that support parents, they are better able to attract and retain all types of talent.  These policies also mitigate the career setbacks that women often face when becoming mothers. As these issues become more talked about, the needs of the modern workforce are evolving and employers must keep current to remain competitive.

 

Becoming Advocates for Change

As a staffing and recruiting agency, Goldin’s research translates into practical guidance for Employment Enterprises. We are better able to help our clients foster gender equality within their organizations. As a woman-owned small business, these issues are of special interest to our leadership. We engage in initiatives to help our clients ensure their companies are diverse, inclusive, and competitive. Our participation in industry groups—such as the American Staffing Association—and our constant monitoring of relevant legal developments allows us to better help our clients empower women in the workforce.

 

In Conclusion

By understanding the nuances of the gender pay gap, the influence of human capital and occupational segregation, the importance of flexible work arrangements, and the impact of the motherhood penalty, employeres can better provide for the women in their companies. As America continues the journey towards gender equality in the workforce, the role of staffing and recruiting agencies is pivotal. By applying Goldin’s insights, Employment Enterprises not only eases our clients’ work but also contributes to a more equitable and prosperous workforce. The timeliness of Goldin’s Nobel win reminds us of the significance of this ongoing effort and the potential for positive change.

Written by: Sarah Perlman

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