The Financial Impact Of Menopause In The Workplace

Did you know that $150 billion in productivity loss happens due to menopause?

Or that $1.8 billion in work time is lost due to menopause in the workplace?

Estimating the direct financial cost of menopause on a company can be challenging as it depends on various factors, including the size of the company, the number of menopausal-aged employees, the severity of their symptoms, and the company's existing policies and support systems. There are a variety of financial costs associated with menopause in the workplace that companies should be aware of.

Healthcare Expenses

Companies may incur increased healthcare costs due to menopausal employees seeking medical help to manage their symptoms, including, but not limited to, doctor visits, medications, hormone therapies, and other treatments.

Absenteeism 

Menopausal symptoms can increase absenteeism as female employees may take more sick days or personal time off to address their symptoms. Frequent absences can result in productivity losses and potential costs associated with hiring temporary staff, overtime for other employees to cover the workload, and sick pay costs.

Reduced productivity 

Menopause-related symptoms such as fatigue, sleep disturbances, and mood swings can impact the productivity and efficiency of menopausal employees. Reduced productivity can result in missed deadlines and lower output, affecting company performance.

Turnover costs 

Severe menopausal symptoms might cause some women to consider leaving the workforce or changing jobs to find a more supportive work environment. Employee turnover can be costly regarding recruitment, training, and lost productivity during the transition.

Training and Knowledge Transfer

When experienced employees leave the company due to menopause-related challenges, there may be costs associated with recruiting and training new employees to fill those positions. Moreover, the loss of experienced workers may lead to knowledge gaps and additional training costs for other employees to take on new responsibilities.

Workplace Accommodations

Companies may need to adjust the work environment to accommodate menopausal employees' needs. These accommodations could include temperature control, flexible work schedules, and ergonomic considerations. While these changes may not always be significant, associated costs could still exist.

Legal Risks

Failure to provide reasonable accommodations or a supportive work environment for menopausal employees could result in legal challenges, leading to potential legal fees and settlements.

To better understand the financial cost of menopause in a company, human resources and finance departments can collect data on their healthcare expenses, absenteeism rates, turnover rates, and any accommodations that need to be made for menopausal employees. This data can help assess the direct financial impact and develop strategies to support menopausal employees effectively, reduce costs, and maintain a healthy and productive work environment.

The best way to do so is with a menopause awareness assessment and evaluation. This enables an organization to become more menopause-aware, helps improve its bottom line, and shows employees that the company cares and values their contributions.