The Menopause Action Plan of Labour is a welcome development for many. Progress has been slow despite campaigning groups calling repeatedly for concrete actions on menopause at the workplace.
Labour, as part of its “Plan to Make Work Pay”, has committed to introduce new legislation that will require large companies (250+ employees), to submit proof to the government portal and document the steps they are taking to support women experiencing menopause at work. The data includes information on the gender pay gap, training, sharing of information, policies regarding flexibility, absence and dress code, as well as information about policies concerning flexible working hours, leave, and dressing codes.
This is an important step in the correct direction.
What about SMEs, you ask?
99.9% all UK businesses are small companies with 0-250 workers, so the proposed legislation will leave most firms responsible only for themselves.
What other motivations do HR teams, small businesses, and employees have to create their own Menopause Action Plan besides social responsibility?
Menopause is a great way to improve hiring and retention.
research conducted by CIPD found that in 2023 17% of UK workers considered quitting their jobs because of a lack support for menopause symptoms. The Fawcett Society also found that One in Ten Women who were employed during menopause had to leave their jobs because of symptoms.
For larger companies, menopause action plans are expected to include policies like offering employees paid time off, uniform alterations and temperature-controlled areas to help women manage menopausal symptoms.
Even though it is not a requirement for smaller companies to do so, the steps above can help keep women going through menopause happy and engaged. They are less likely than other employees to seek employment elsewhere.
A recent a href=”https://www.thanksben.com/blog/employee-benefits-trends#::text=75%25%20of%20employees%20state%20that%20they%20are%20more,their%20decision%20to%20accept%20or%20reject%20a%20job.” A recent report on employee benefits found that 88% of workers see health benefits as ‘extremely’ or ‘very’ important, and that 73% want a more tailored benefits package to support their individual needs.
When considering where to work, it is clear that prospective employees prioritize benefits that are meaningful and focus on wellbeing.
Small businesses that are competing with more established companies for the best talent can benefit from a benefits package that focuses on individualised healthcare support. This will help them to attract and retain top staff.
The economy benefits from greater menopause support
Angela Rayner, Labour’s Deputy Leader, said that the plan was “a simple and effective way” for “improving productivity, keeping more people in the workforce and, ultimately, growing our economy”.
Statistics from the Department for Work & Pensions confirm this view. They show that companies lose more than 14 million working days due to a lack awareness of menopause.
Smaller companies are likely to feel the financial burden of absence due to a lack in menopause support. Smaller companies will likely have fewer staff to cover shifts. They may also have less access to HR resources and budget for employee wellness services, which can help reduce long-term absenteeism.
Small businesses can minimize the negative impact of staff absences and poor wellbeing by focusing their efforts on creating their own menopause plan.
Cost-effective measures like flexible work hours, flexible dress codes, and wellbeing initiatives will help employees who are going through a difficult time to feel valued and supported. This can reduce turnover costs.
All businesses must report on data related to menopause.
According to <a href="https://cpdonline.co.uk/knowledge-base/business/gender-pay-gap-reporting/#:~:text=Reporting%20gender%20pay%20gap%20information%20is%20important%20for,%E2%80%93%20It%20shows%20outsiders%20that%20they%20support%20equality." CPD online says that when a company chooses to report the gender pay gap voluntarily, they can send a powerful message about their commitment to equality.
Recent research shows that 87% job seekers want transparency. Publishing reports on women’s health and gender could give SMEs a strong advantage when it comes time to hire.
Women in senior leadership positions are more productive than companies without.
According to the CIPD, 27 percent of women report that menopause symptoms negatively impacted their career advancement.
Menopause symptoms can have a significant impact on progression.
According to – Bloomberg, companies that have more women at the top of their ranks are 10x as profitable as those with only male directors.
Although this report is based on larger companies with executive boards, according to the World Economic Forum, female leaders have a huge social-economic impact on smaller businesses too. Women-led companies create jobs, stimulate innovation, and contribute to more sustainable, greener businesses, according to the report.
It is in the interest of companies to support women at work, such as a menopause plan, to encourage them to stay engaged and to accelerate their advancement to senior leadership positions.
How can small business keep up with less resources and accountability?
It is in the interest of smaller businesses to remain competitive with larger companies, and their menopause-action plans. It can be difficult without the right support and guidance.
Menopause awareness will be improved by HR departments developing policies and training managers.
The biggest change in terms of rules is the introduction of paid leave. Employees will have to be informed of this change and the policies and payroll will also need to be updated.
Employers and HR teams can also help by providing flexible working hours, mental health services like employee wellbeing services, and staying informed of the latest government legal advice.
