- The Government has appointed a new Menopause Employment champion and is calling on more employers to develop menopause policies
- An Opinium survey* of more than 1,000 women who have gone through or are going through the menopause carried out for AJ Bell’s Money Matters campaign found:
- 42% of women working full time (30+ hours pw) said their work had been negatively impacted which forced them to reduce hours, take holiday or unpaid leave, change jobs, cut hours, or stop working altogether
- The most common impact was on women’s performance or confidence something which is especially prominent amongst 45–55-year-olds (38% of that age group said they’d been affected that way)
- More than one in ten (14%) said their finances had been impacted by the menopause and of those 51% said they’d had to cut their outgoings in order to manage financially
- Menopause is just another barrier to narrowing the gender investment gap with 59% of women saying they don’t have or aren’t sure if they have sufficient savings to fund their retirement
Danni Hewson, head of financial analysis at AJ Bell, comments:
“Whilst workplaces are beginning to understand the importance of putting menopause policies in place it is still a relatively taboo subject. And with the labour market tight and the government committed to getting more people back into employment or to work more hours breaking the silence could make a big difference.
“Despite the fact all women go through the menopause it’s still something that many women find difficult to talk about. Whilst companies are getting much better at recognising the importance of having a menopause policy in place there’s still a massive stigma attached to the subject. Many women feel too embarrassed to talk about the changes their body is going through, particularly when it starts to impact their ability to do their job.
“I was in my late thirties when I began to experience menopausal symptoms and despite numerous conversations with my GP, I felt completely isolated and bewildered. I was working in television news at the time and suddenly found that my ability to do my job was compromised. I couldn’t concentrate properly, and my brain felt foggy, rather like it had when I’d first had my children. But whilst “baby brain” is something that’s been given a huge number of column inches over the years this was something I hadn’t been expecting and something that completely eroded my confidence.
“Whilst it wasn’t the main reason for my return to the radio studio it was a consideration. I was lucky, I was able to forward my career by changing roles, but many women aren’t as fortunate. They have to take time off sometimes using their holiday entitlement and sometimes having to resort to unpaid leave. Cutting back on the number of hours they work seems to be the most common solution, but a minority of women decide to leave the workplace entirely.
“More and more workplaces are waking up to the need to provide support for women going through the menopause and putting policies in place to make it easier for women to talk to their managers and get the support they need. Despite this, 62% of those surveyed who are currently working said their employer didn’t have any such measure in place.
“Most women experience the menopause between the ages of 45 and 55. It’s a hugely important moment in a woman’s career with many thinking seriously about their retirement for the first time and considering whether they have enough put by to fund their retirement.
“With one more than one in ten saying that their finances had been impacted by the menopause and more than half of those saying they’d had to cut their outgoings in order to manage financially it’s just another life event that gets in the way of women’s ability to invest in their future.
“With almost sixty percent of women saying they don’t have or aren’t sure if they have sufficient savings in pensions and other investments it’s clear more needs to be done.”
*Opinium survey on the impacts of the menopause spoke to 1,071 women who have gone through or are going through the menopause. Conducted between 26th and 31st August 2022
