As Mental Health Awareness Month winds down, I thought I would take a minute to let you know about a Deloitte report I recently came across. It found that while women are playing an increasingly larger role in the global workforce, a least half of them reported higher stress levels than a year ago, and more took time off due to mental health reasons.

Deloitte surveyed 5,000 women across 10 countries in roles ranging from non-managerial to C-suite and board positions. It found that mental health (48 percent) trailed only financial security (51 percent) and women’s rights (50 percent) among their overall concerns, and results appear strongly linked to hours worked. Among those working just their contracted hours, about half described their mental health as good — a figure that fell to 23 percent for those who regularly worked extra hours. And only 37 percent of women said they felt able to switch off from work.

And with fewer women also reporting that they felt supported by employers when it came to work-life balance issues, more were likely to switch jobs, according to the report. It noted that 43 percent said they expected to stay with their current employer for just one year to two years. What’s more, 29 percent said they expected to stay at their job for three years to five years, and 9 percent said they’d remain for more than five years.

So what types of companies succeed in keeping employees happier and ultimately retaining them? Not surprisingly, companies Deloitte identified as “Gender Equality Leaders” — where employers have built inclusive cultures that value work-life balance and made women feel that their careers are supported — are finding the most success. At these companies, about 62 percent of women said they intended to stay with their employer for more than three years, compared with just 13 percent of those at firms Deloitte defined as “Gender Equality Lagging.” And in terms of progressing into a senior leadership role, figures at those types of firms, respectively, came in at 92 percent versus 31 percent.

Food for thought, no?

To me, it sounds like becoming a leader in gender equality is not just a moral imperative but also a strategic advantage. Companies that build inclusive cultures can keep people happier, enhance their mental well-being, and support women’s careers, thereby attracting and retaining top talent, fostering innovation, and improving overall performance.

Does your company foster gender equality? If not, here are just a few strategies your company can implement:

  • Establish clear policies. Implement and enforce policies that promote gender equality, such as equal pay for equal work, non-discrimination, and anti-harassment policies.
  • Promote diversity. Encourage diverse hiring practices and create a pipeline for women in leadership roles through targeted recruitment and development programs.
  • Offer flexible work arrangements. Offer flexible working hours, remote work options, and part-time schedules to accommodate different needs.
  • Provide parental leave. Provide generous and inclusive parental leave policies for all parents, regardless of gender, to support family responsibilities.
  • Provide mentorship programs. Establish mentorship and sponsorship programs to help women navigate their career paths and reach leadership positions.
  • Provide professional development. Provide opportunities for continuous learning and development, including leadership trainings and workshops.
  • Establish employee resource groups. Support the formation of employee resource groups (ERGs) focused on women’s issues and gender equality.
  • Provide inclusive benefits. Offer comprehensive benefits that address the unique needs of all employees, including health care, mental health support, and wellness programs.

By implementing these strategies, companies can become gender equality leaders, creating workplaces where all employees thrive, feel supported, and enjoy better mental well-being. This not only enhances a company’s reputation but also drives long-term success through a more engaged and diverse workforce.