• A Menopause Ambassador should promote the economic contribution made by women
• 1 in 100 women experience menopause by the age of 40 (1)
• Almost 1 million women have left the workplace due to menopausal symptoms (2)
Leading employer organisations have called on Government to appoint a Menopause Ambassador, among a series of recommendations made in a new report 'Menopause and Employment' which focuses on how to enable women to have fulfilling working lives.
As the working population gets older there are few workplaces where the menopause is not experienced by staff. With 1 in 4 women considering giving up work because of menopause symptoms, there is a clear business case for employers, government, and society to come together to support women to thrive at work for longer (3).
The report has been produced by the 50Plus Choices Employer Taskforce which is made up of the Chartered Institute of Personnel and Development, the British Chamber of Commerce, the Federation of Small Businesses, the Recruitment and Employment Confederation, UK Hospitality, Business in the Community, and Andy Briggs, the UK Government Business Champion for Older Workers and the Ageing Society and Group CEO of Phoenix Group.
Andy Briggs jointly chairs a roundtable of these employer groups with Mims Davies MP, the Minister for Employment, Department for Work and Pensions. The discussions are focused on how to ensure policies and measures are in place to support people to enter, remain and progress in the labour market, regardless of age. In particular, the Minister asked members to look at menopause and employment as an issue, emphasising the importance of the provision of support and understanding by employers to enable people to have fulfilling working lives.
The report makes a number of recommendations for employers, government and society including:
- Nominate a Menopause Ambassador to work on behalf of Government to represent the interests of people experiencing menopause transition. This role should promote the economic contribution made by women, the missed productivity by employers and tax revenue by Government and include supporting all elements of the affected population including ethnic minority, disabled and LGBTQ.
- All the stages of menopause transition to be referenced as a priority issue in Government’s public policy agenda on work, diversity and inclusion.
- Develop methodology to quantify the cost of menopause on the individual, businesses and the UK economy.
- Launch a collaborative and government-backed employer-led campaign, working in conjunction with the Menopause Ambassador, covering a number of initiatives to enable conversations about menopause to be normalised as well as provide practical support to women transitioning through the menopause.
- Money and Pensions Service and consumer money advice and support organisations to include menopause impact and considerations.
Commenting on the report, Andy Briggs said: “There is a very clear business case for supporting women to feel that they are valued in the workplace for longer, and in ensuring that they can adapt how they work as they get older. Dropping out of the workplace early, due to factors such as the menopause or caring responsibilities, can have a significant impact on women’s financial futures. Government needs to embrace the recommendations outlined in this report and ensure they are built into all work places. Likewise, employers need to enable conversations about the menopause in the workplace to help break down any taboos and normalise this important issue.
“At Phoenix Group we are already taking steps to encourage open discussions with an on-going menopause awareness campaign for colleagues, dedicated training for our existing Wellbeing Champions and signposting colleagues to our existing support packages. We will continue to look for further ways to support our colleagues, utilising the recommendations in the report and sharing our learnings and best practice with others.”
The report has been presented to the Minister for Employment and the Government will be responding to the recommendations in the coming months.
Ends
For media enquiries please contact
Beki Elmer
Lansons
BekiE@lansons.com
Rachel Esland
Phoenix Group
rachel_esland@standardlife.com
About Phoenix Group
Phoenix is the UK’s largest long-term savings and retirement business, with £300 billion of assets under administration and c.13 million customers.
We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities. This means taking responsible and sustainable investment decisions, and using our presence and voice to advocate on behalf of the UK’s savers. We understand that our scale and expertise means that we have an important role to play for our customers, colleagues and our communities.
As life expectancy continues to increase and the pension landscape continues to shift, we will continue to be a safe and dependable ally in the journey to and through retirement for millions of customers, by providing the right guidance and products, at the right time, to support the right choices. We offer a broad range of products for people across all stages of the savings life cycle.
Our strategy focuses on delivering long term, sustainable value and, to fulfil our purpose, focuses on five key areas to ensure we respond to changing customer needs, manage our capital position well, create value, inspire our people, and put sustainability at the heart of our business.
Phoenix is a FTSE 100 company and we feature in the FTSE 100 ESG Select Index. In 2020 we committed to our operations being net zero carbon by 2025 and our investment portfolios by 2050. We are playing an active role in helping to build back better and greener as we invest for the future. We are a Living Wage Employer and recognised as a Carer Positive Exemplary Employer in Scotland for offering the best support to colleagues who are carers.
About 50Plus Choices Employer Taskforce
The Taskforce is made up of the Chartered Institute of Personnel and Development, the British Chamber of Commerce, the Federation of Small Businesses, the Recruitment and Employment Confederation, UK Hospitality, Business in the Community, and Andy Briggs, the UK Government Business Champion for Ageing Society and Older Workers and Group CEO of Phoenix Group.
Footnotes
1. Find guidance on supporting employees going through menopause