InvestmentsNov 8 2021

We need to talk about money and menopause

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The menopause taboo is holding back businesses.

As a society, we’ve become better at understanding how our bodies affect our work.

There’s a growing recognition of the role our physical and emotional state plays in our ability to perform, and employers are realising that getting the best from their teams means giving more comprehensive support to individuals.

Mental health assistance has increasingly become part of corporate infrastructure and companies around the world are beginning to follow Japan’s lead, albeit 60 years later, and grant paid period leave to their employees.

Yet some areas of health are still shrouded in taboo.

Take, for example, menopause. It’s a physical experience affecting millions of people, around the world.

If leaders want to get their best from employees, they need to start understanding and addressing its symptoms.

The vast majority will have symptoms: in the UK, 85 per cent of women of menopausal age will experience symptoms.

And these symptoms encompass more than the often-dismissively quoted ‘hot flushes’, ranging from joint pain and heart palpitations to brain fog, anxiety and difficulty concentrating.

It’s impossible for these symptoms not to have an impact on work. The statistics back this up: research has found that 63 per cent of people experiencing menopause say their symptoms have negatively impacted their work, and one in four have considered leaving their job due to symptoms.

But, despite this, only 19 per cent of businesses currently say they have a menopause policy in place.

The lack of visible, practical support from management encourages a culture of silence where just over a fifth (22 per cent) of employees have been able to speak about menopause at work. The result? Unfulfilled employee potential, stunted careers, reduced team wellbeing and talent loss.

Turning the tide

The good news is that leaders are beginning to recognise there’s a problem. Recent research commissioned by Peppy in conjunction with World Menopause Day found that over half (54 per cent) of leaders believe that people suffering menopause symptoms are likely to be discriminated against.

Although C-level executives are least likely to talk about menopause at work, 72% want to know if a colleague is experiencing menopause so they can provide support. 

So, how can leaders end the silence around menopause and stop their employees suffering because of it?

The first step is writing menopause and perimenopause support into your business plan and being prepared to commit time, money and resources towards it.

This is an ethical decision but it’s also one that gives return on investment: we found that 61 per cent of workers would be more likely to change jobs for an employer who offers support around menopause.

Then it’s a case of working out what that support looks like. While leaders are keen to connect directly with their teams on the health issues that impact them, the reality is that many employees don’t feel comfortable in doing so.

A way in which to navigate this is by providing new health tech tools that connect employees to certified health professionals through video and chat.

The professionals give them day-to-day guidance on managing symptoms as well as related conversations at work, at home and with their GP.

Building up a bank of high-quality resources for employees is also helpful, not only in supplying teams with information that can help them, but in flipping the narrative and demonstrating that menopause should be talked about.

Building up a bank of high-quality resources for employees is also helpful.

This was the case for Santander, which recently started a pilot scheme and gave a group of employees access to one-to-one chats and video appointments with practitioners, vetted resources and tailored mental wellbeing support.

After just four weeks, 76 per cent of the enrolled employees said their menopause symptoms had improved and 90 per cent felt more positive about Santander as an employer.

Following the pilot, Santander rolled out our support for all its 20,000 UK employees and their partners.

Good employers know that any issues facing their teams are their problems too.

Menopause is one such issue and if leaders want to get their best from employees, they need to start understanding and addressing its symptoms. Taking a business to the next level means swapping menopause silence for support.

Kathy Abernethy is director of menopause services at Peppy