With a passion for data, I decided it was time to analyze statistics on my podcast guests. I had noticed a trend but wanted to quantify it.
As I write this blog in the first week of June, I have interviewed over 200 women for the podcast. Among them, 55% transitioned from a corporate background to entrepreneurship in their careers. Remarkably, all of them have excelled as successful entrepreneurs across various hospitality sectors.
The primary motivation for these women to become entrepreneurs is flexibility. They seek autonomy in managing their time, breaking free from the rigid 9 to 5 corporate structure to make personal time choices.
This shift often coincides with family responsibilities, especially with young children. They desire the freedom to tailor their work hours to accommodate school schedules, family dinners, and quality time with their loved ones.
The conventional 9 to 5 work system and fixed childcare hours do not adequately support parents juggling full-time jobs and parenting duties. Childcare costs remain high worldwide, adding to the challenge.
Some women seek flexibility beyond childcare, whether caring for elderly parents, supporting a traveling partner, or managing family obligations across the globe.
Choosing the entrepreneurial path is not without its challenges. Many women opt for entrepreneurship after weighing the limitations of discussing work-life balance with their corporate employers. Some felt unsupported, while others were compelled to leave.
Despite corporations investing time and resources in these female employees, many choose to walk away. On average, Oxford Economics estimates that replacing an employee costs a company approximately £30,000.
Conversations and solutions are essential. Some success stories involve corporate employers accommodating employees' needs, especially temporary ones when additional flexibiltiy was required for childcare responsibilities. By fostering open dialogues, supporting career development, and offering flexible work arrangements, employers can retain talent and prepare them for senior roles.
Flexibility manifests in various forms such as remote work, flexible hours, part-time options, or job-sharing. Finding a mutually beneficial arrangement benefits both employees and employers.
I wholeheartedly admire female entrepreneurs and draw inspiration from their journeys, I also advocate for corporate awareness to address talent leakage and implement solutions to retain valuable employees.
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