Of the 5,000 women surveyed by Deloitte across 10 countries, 77% said their workload had increased since the start of the pandemic and 51% were less optimistic about their career prospects. Getty
Of the 5,000 women surveyed by Deloitte across 10 countries, 77% said their workload had increased since the start of the pandemic and 51% were less optimistic about their career prospects. Getty
Of the 5,000 women surveyed by Deloitte across 10 countries, 77% said their workload had increased since the start of the pandemic and 51% were less optimistic about their career prospects. Getty
Of the 5,000 women surveyed by Deloitte across 10 countries, 77% said their workload had increased since the start of the pandemic and 51% were less optimistic about their career prospects. Getty

Women believe career prospects have been hampered by the pandemic


Deena Kamel
  • English
  • Arabic

Working women are juggling heightened workloads and more household duties during the Covid-19 pandemic, leading to deep job dissatisfaction, pessimism about career prospects and deteriorating mental health, according to a global survey by Deloitte.

Consulting firm Deloitte's survey of 5,000 women across 10 countries found that 51 per cent of respondents now feel less optimistic about their career prospects than they did before the pandemic. Some 29 per cent of the women, who said their career is not progressing as fast as they would like, blame poor mental health as a major reason.

Of all the women surveyed, only a third consider their mental wellbeing to be "good" or "extremely good" currently, compared with 68 per cent before the pandemic. Only 22 percent said their employers have allowed them to establish clear boundaries between work and personal life, according to the Deloitte report titled Women @ Work: A global outlook.

The surveyed women reported a 35-point drop in mental health and a 29-point drop in motivation at work compared to before the crisis.

"The last year has been a ‘perfect storm’ for many women facing increased workloads and greater responsibilities at home, a blurring of the boundaries between the two and continued experiences of non-inclusive behaviours at work,” Rana Ghandour Salhab, people and purpose partner at Deloitte Middle East, said.

Major organisations such as the International Monetary Fund (IMF), the World Bank and the International Labour Organisation have sounded the alarm about the pandemic's impact on women's lives socially and economically. The crisis has highlighted existing inequalities, disproportionately affected women and threatened to wipe out hard-won gains made in gender parity over the years, the organisations said in previous reports.

Since the onset of the pandemic, 77 per cent of women surveyed said that their workloads have increased – the most frequently-cited change in their lives due to the crisis. Women are also taking on more household and care-giving tasks: 59 per cent say they’re spending more time on domestic tasks; 35 per cent are spending more time caring for children; and 24 per cent cite more time caring for other dependents.

"The mounting responsibilities are taking a clear toll on their physical health, mental wellbeing and career ambitions," the report said.

Working women also continue to face non-inclusive work environments from disparaging remarks about their gender to their judgment being questioned.

More than half of the women surveyed, 52 per cent, have experienced some form of harassment or micro-aggression in the past year, the survey showed.

Most women do not report these behaviours, mainly due to fear of career reprisal and in some cases because the companies do not have reporting mechanisms in place.

"Women who have experienced non-inclusive behaviours are even more likely to consider leaving their employers and the workforce altogether in this time of high stress and uncertainty," the report said.

With regard to satisfaction with their jobs, 57 per cent of women say they plan to leave their current job within two years and 21 per cent of these women expect to leave in less than a year. Work-life balance was the top reason they would consider leaving their current employer.

Younger women of colour between the ages of 18 to 37 years are more likely than the overall survey sample to feel less optimistic about their career prospects today than before the pandemic (58 per cent, versus 51 per cent) and are more likely to believe their careers are not progressing quickly enough (54 per cent, versus 42 per cent).

However, some companies have created genuinely inclusive cultures where women believe they are fully supported by management and respected by their peers, the report said.

Women who work for these organisations—which Deloitte dubs "gender equality leaders"—report higher levels of mental wellbeing, motivation, productivity and loyalty to their employers. They are also far more likely to say they are planning to stay with their employers for longer than two years.

"As organisations look to rebuild their workplaces, those that prioritise diversity, equity, and inclusion in their policies and culture and provide tangible support for the women in their workforces will be more resilient against future disruptions," Maya Rafii, diversity and inclusion leader at Deloitte Middle East, said.

"They will lay the groundwork needed to propel women and gender equity" forward in the workplace.

Organisations must act now to retain their female talent by creating and maintaining a truly inclusive culture, enabling work-life balance, showing visible commitment from their leaders towards gender balance and providing fulfilling development opportunities, the consultancy recommended.

Almost a quarter of women listed better support for childcare, the provision of short-term sabbaticals and improved resources to support mental health as the top three things their organisations could do to help develop and retain female staff, the survey showed.

"Unless we reverse the harm done over the past year, the impact will be felt by female employees around the globe as well as the organisations that will miss their critical contributions for decades to come," the report said.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”