Why investing in parents as part of your Diversity, Equity & Inclusion strategy is better for business

Parents are stretched thin. Working moms? Even thinner. Much has been written about this since the start of the pandemic. But what does the data tell us about Black, Latinx, and Asian parents? 

While supporting parents and Diversity, Equity & Inclusion efforts have historically been treated separately by companies, with different teams, strategies and budgets, new data from our Parents at the Best Workplaces™ report makes the case for integrating them, and emphasizes why supporting parents should be core to your company’s Diversity, Equity & Inclusion strategies. 

Here are four key data points you need to know about parents, DEI, and burnout—from our new Parents at the Best Workplaces™ report.

1. Black, Latinx, and Asian employees are most likely to be working parents. 

60% of Black employees, 56% of Latinx employees, and 57% of Asian employees are parents, along with 50% of white parents 

These numbers tell us that investing in programs and policies that support working parents like childcare support or access to parenting coaches is key to attracting and retaining diverse talent. 

2. 33% of Black mothers are experiencing burnout. 

And we expect the real number is even higher. Burnout is defined by the World Health Organization as “resulting from chronic workplace stress that has not been successfully managed” leading to lack of energy or exhaustion, mental health issues, and reduced work engagement and productivity. 

Burnout is a real threat to your employees’ overall emotional, mental, and physical health and wellbeing. And it’s a real threat to employee retention: workplace stress is estimated to cost the U.S. economy more than $500 billion dollars and, according to the American Psychological Association, burned-out employees are 2.6 times as likely to be actively seeking a different job and 63% more likely to take a sick day. 

3. 2.4 Million estimated additional cases of burnout were highlighted among working mothers, due to unequal demands of home and work. 

Yes, you read that right. And this number is not surprising when you think about the added burdens of this pandemic-induced recession—which is carrying a disproportionate impact on Black and Hispanic women and single mothers—in terms of caregiving, virtual schooling, and the like adding to stress due to the changing nature of work, fears of losing one’s job, and more.  

Much has been written about the exodus of mothers since the onset of the pandemic. While this is an urgent, unprecedented crisis for parents and their employers—it’s an old familiar problem, too. Pre-pandemic, 43% of new mothers were leaving the workforce within a year of having a baby. What was a leaky bucket is now a waterfall of talent leaving the workforce. 

As COVID-19 continues to take a toll on daily life, schools, childcare, healthcare, workplaces, and the economy, employers need to double down on their strategies for retaining women, which should be a critical goal for DEI efforts. 

4. When companies reduce burnout, their employees are 20x more likely to stay. 

That’s the good news. But—and this is critical—these policies need to address the unique reasons for burnout. Expanding access to specialized mental health support, encouraging employees to take time off, and training managers to be empathic listeners are among the key ways companies are curbing burnout right now. 

Many leading companies are also creating and tapping into employee resource groups to connect different groups remotely, during a time when isolation is a major struggle. For instance, 61% of the Best Workplaces for Parents™ have ERGs for working parents. And it’s likely you have ERGs for LGTBQI+ employees, women or moms, and/or Black and Latinx employees. Think about how you can bring these groups together more to encourage community and sharing, engage these employees, and share ideas for ways to address burnout. 

The bottom line

It’s been proven that more diverse companies are positioned to meaningfully outperform their counterparts: for instance, companies that invest in employees and their families see 5.5 times more revenue growth thanks to greater innovation, higher talent retention, and increased productivity. 

When you’re considering bringing support for parents into your DEI strategy, addressing employee burnout should be at the core. Because the reality is, the diverse talent you work hard to attract is the most likely to be experiencing burnout right now—and thus, struggling with their mental health and wellbeing, and the most at risk of leaving. Make sure your employees know how much you support and value them. 

‍Want to learn more about what differentiates the Best Workplaces for Parents™? Download our report for data-driven strategies to bring to your company.