Do you love or hate remote work? Everyone has their opinion on this topic. But as HelloPrenup’s CEO, a fully remote company, I love remote work. It’s a game-changer for me personally, especially as a single mom to a 5-year-old. Remote work has very clear and tangible benefits to me and to the other mothers who are part of the HelloPrenup team. Here are some of the reasons I love remote work:
- No more hard choices: Remote work eliminates the agonizing choice between advancing our careers and being present for our children—a dilemma that far too many working mothers are forced to confront — and a choice that often leads women to exit the workforce prematurely.
- Autonomy: The autonomy you have when starting your own company is unparalleled, but the truth is, remote work didn’t just offer me flexibility; it gave me the freedom to “have it all” without sacrificing one part of my life for another.
- Having “it all”: The ability to engage in both work and family life without having to make hard choices empowered me. I know I am not alone in this sentiment, and many of our HelloPrenup colleagues who are mothers of young children have echoed the same gratitude for the flexibility remote work provides.
Remote work is not just an unnecessary perk to these women – it is a lifeline that allows them to thrive both personally and professionally. Let’s dive into all of the reasons why back-to-work mandates suck for women and how remote work can help.
Everyone benefits from a remote work environment
It’s not just the moms who benefit. Our non-parent employees also reap the rewards of remote work. They have the opportunity to share weeknight dinners with their spouses, families, and friends, unencumbered by the daily grind of commuting to and from the office. This is a lifestyle that fosters connection and fulfillment, enriching both their personal and professional lives. Why should we have to choose, anyway? Remote work has been a catalyst for progress, removing barriers and creating new opportunities for women to grow professionally. Amidst all the discussions about companies mandating a return to the office, what strikes me most profoundly is the critical issue of advancing women in the workplace.
Return to office mandate at other companies
As the world strives to regain a semblance of normalcy in the wake of the pandemic, conversations around returning to the office are gaining momentum.
- The Trend: Many major companies (like Google and JP Morgan Chase) are ending remote work flexibility.
- Negative Impact on Women: This disproportionately affects women, especially those with children or family care responsibilities.
- Career Penalties: Companies may deny promotions to those who need flexibility, widening the gender gap in leadership.
Women may be forced to choose between career advancement and caregiving for their families. This could reverse progress made towards gender equality in the workplace.
The gender pay gap: A persistent problem
The gender pay gap, representing the disparity in earnings between men and women, is already a persistent issue, with women earning less than their male counterparts across various occupations and industries.
Key facts about the gender pay gap:
- Unequal Pay: Women consistently earn less than men for comparable work. For example, according to the Pew Research Center, in 2022, American women earned an average of 82 cents for every dollar earned by men, a figure nearly unchanged from 2002, when they earned 80 cents to the dollar.
- Stagnation: Despite decades of awareness, the US average of 82 cents for women per each man’s dollar has barely improved.
- Intersectional Disparity: Race and ethnicity worsen the gap, with some groups (like Latinx women) earning even less.
Factors behind the gap:
- Motherhood Penalty: Mothers often work fewer hours or leave the workforce, impacting their earning potential. In fact, according to research, mothers aged 25 to 44 are often less likely to participate in the labor force compared to their childless counterparts of the same age.
- Fatherhood Bonus: Fathers often see an earnings increase, further widening the income gap between genders.
- Systemic Issues: Unconscious bias, lack of promotion opportunities, and occupational segregation all contribute to the problem.
Career interruptions (a.k.a., the “motherhood penalty”)
The career interruptions that many women experience, like having children or caretaking for a family member, can mean major career setbacks. These interruptions often result in:
- Lost wages,
- Diminished career opportunities, and
- Reduced retirement savings.
This phenomenon, known as the “motherhood penalty,” disproportionately impacts women. The solution? Remote work removes a significant barrier that keeps women from working after having kids, providing them with the flexibility to balance professional responsibilities with caregiving duties.
How inflexible work hurts women
Recent history has highlighted the unequal burden shouldered by women, who are disproportionately responsible for childcare and household duties, all while balancing their professional responsibilities.
Reasons why:
- Unfair Burden: Women often bear the majority of childcare and housework, even while working full-time. According to research, nearly 60% of women say that they do more of the household work than their male counterparts.
- Career Cost: This burden can force women to scale back work hours or leave the workforce entirely, harming their earning potential.
- The Rise of Remote Work: The pandemic proved remote/hybrid work is viable, offering women more flexibility to balance multiple roles.
Why return-to-office hurts progress:
- Rigid Structures: Mandating full-time in-office work ignores the unequal reality women face.
- Lost Potential: Companies risk losing talented women who can’t meet inflexible demands.
- Equity Setback: Forcing a “one-size-fits-all” model risks reversing gains in gender equality.
General career progression is harder for women
More general career progression is another area where back-to-work mandates can have profound repercussions for women. Picture this: you’re a driven professional eager to advance in your career, but the rigid constraints of traditional office hours make it challenging to participate in networking events, impromptu meetings, and, let’s be honest, daycare ends at 2 pm… How can a new mom compete with her more supported colleagues in this scenario?
Women leaders drive success: The data is clear
Don’t just take it from me… There are real studies and real data that demonstrate a woman’s value in a company’s corporate performance. Here’s what the data says:
- Companies with female CFOs outperform their sectors and show higher profitability.
- Female-led companies experience stronger stock price momentum than those led by men.
- Firms with women CEOs/CFOs tend to be more profitable and have better stock performance overall.
- Stocks of companies with new female CEOs notably outperform the market by 20% on average.
Our theory? Women leaders bring different perspectives, skills, and insights, boosting innovation. Gender-diverse leadership teams consistently outperform less diverse ones financially. Women aren’t just a nice addition; they are essential for a company’s competitive success. Inclusive workplaces that empower women drive higher profits, innovation, and overall company health. It’s time to recognize the immense value that women bring to the table and ensure that they are afforded equal opportunities to contribute, lead, and excel within organizations.
Final thoughts
The bottom line is that return-to-office mandates suck for women. From the gender pay gap to general career progression to the motherhood penalty (and more), there are so many reasons why going back to traditional office life is hard on women. As a CEO, a woman, and a mother, I love remote work. And you know what? Wall Street research agrees with this sentiment. Giving women the option to work remotely is crucial for keeping them in the workforce. And companies actually do better when they have diverse teams (it’s a fact). So, my advice to other companies and CEOs is to keep embracing remote work—it’s good for everyone.
Julia Rodgers is HelloPrenup’s CEO and Co-Founder. She is a Massachusetts family law attorney and true believer in the value of prenuptial agreements. HelloPrenup was created with the goal of automating the prenup process, making it more collaborative, time efficient and cost effective. Julia believes that a healthy marriage is one in which couples can openly communicate about finances and life goals. You can read more about us here Questions? Reach out to Julia directly at Hello@Helloprenup.com.
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