Design Your Marketing for Women and Men Will Follow
Who are you designing your talent attraction and retention program for? You might say, “For everyone!” And you might mean that - in today’s tight labor market, being able to keep and attract a great workforce means widening the definition of “talent”.
We know that the economic development profession is overwhelmingly caucasian, and, especially in areas of leadership, skews male.
When talent attraction and retention programs are designed by older, white males, then the community enters into a loop of marketing the program right back to the same audience. This is known as “cognitive bias” and it shows up in every field. A startling example of this comes from the U.S. auto-industry’s all-male teams of engineers. They designed the earliest air bags for test subjects that resembled themselves, the result of which killed many women and children whose smaller bodies were not accounted for.
To be fair, the stakes for talent attraction and retention campaigns are not quite as high, but we know that companies are increasingly making operating and relocation decisions based on the availability of a strong workforce. The more educated and talented these workers are, the more competitive a community’s case will be. Rather than focusing your strategy on “everybody” perhaps it is time to target one of the largest sectors of the talent market - Millennial women.
Sisters are doing it for themselves
Why millennial women? Millennial women are highly educated, high earners, and entrepreneurial.
Consider the following statistics:
About 36% of women ages 25-34 have a bachelor’s degree or higher, compared with about 28% of men who are the same age.
Though there is still a gender wage gap, women’s wages are rising; between 1975 and 2016, the share of young women earning less than $30,000/yr plummeted from 79.6 percent to 58.1 percent.
There are many reasons why women are playing a larger role in the economy, not including the relaxed expectations for women to immediately enter traditional marriages.
One reason for their increasing role is, ironically, due to traditional gender roles. Because of sexism in blue collar jobs, women have more of a need for education than men to earn comparable salaries. Of the jobs that do not require a college degree, the highest paying ones typically go to men. Plumbers, electricians and truck drivers have higher wages than female-dominated jobs that don’t require a degree such as secretarial work, child care or restaurant-industry jobs. This has resulted in women seeking out higher education more often than men and has created a pool of young, female knowledge workers.
The impact of women on your community
Attracting more women impacts your community favorably, both economically and socially.
Furthermore, women control a lot of money and spending. Globally, women are responsible for 85% of consumer spending: the average woman is making purchases for herself, her husband or partner, her children and her elderly parents. That translates into a powerful economic force in your community.
One industry in particular that has benefitted from more women in the workplace is the wellness economy. From 2015-2017, the wellness economy grew from $3.7 trillion to $4.2 trillion, or by 6.4% annually, a growth rate nearly twice as fast as global economic growth. This includes sectors such as Wellness Tourism ($639 billion) Personal Care Beauty & Anti-Aging ($1,083 billion) and the Spa Economy ($119 billion). More women in your community means more jobs for those in the health and beauty industry.