Mayo Clinic calculates the economic burden of menopause
According to a recent report from the Mayo Clinic, menopause symptoms cost the US $26.6 billion in annual medical expenses and $1.8 billion in lost work time every year.
That’s the cost borne by one country. Imagine the costs around the globe.
According to the National Menopause Foundation, well over a million women will go through menopause every year. And the majority of women navigate this multi-year transition without proper support.
Unlike other problems we face, addressing the challenges of menopause is not an impossible feat. And the benefits extend far beyond the workplace.
Making the workplace more supportive of women would fix the leaky leadership pipeline & help more women advance into the C-suite. Plus, keeping women in the workforce longer might also address the poverty cliff women face in old age. Leaving 51% of the population facing poverty as they age is not just bad for women, it’s bad for the national economy. Ignoring the affects of menopause cannot be relegated to a “women’s issue,” it is a national economic issue. Failure to act will harm us all.
This is because women fear reprisal in the workplace if they conjure up the taboo word “menopause.”
According to Mayo Clinic, most women view menopause as a negative concept that must be endured rather than a normal life stage. Women fear being sidelined at best or terminated at worst.
These fears of bias and discrimination are both legitimate and well founded. Certain groups scan for anything at all that will support their bigoted view that women are unfit for work and leadership roles. Menopause gives one more chit to weaponize against women, supporting their dogged efforts to keep women out of the workforce, and most especially, to keep women from advancing in their careers. But it is women’s addition to and contributions to the workforce that have made the US an economic powerhouse. Sidelining women (who are 51% of the population), particularly at this stage in their careers, adversely impacts the overall economy. Their aims would severely cripple our economy for decades to come.
The good news is that workplace fixes are neither costly nor burdensome.
They are as simple as training and education about menopause and menopause symptoms as well as implementation of supportive policies.
Women are significant contributors to our economy and we need to do more to support them. What’s good for women’s health is good for the economic health of our nation.
Let’s talk about positive solutions. Join us for an upcoming retreat. Or bring us into your workplace.