How Women Are Redefining Work and Success

Women are using their increased economic power to bring about more creative, manageable work schedules

For years, broadcasters Claire Shipman, at ABC News' Good Morning America, and Katty Kay, at BBC World News America, struggled with their decisions to turn down promotions and plum assignments so they could tend to their families. It wasn't that they weren't ambitious, they just weren't interested in the grueling climb up the corporate ladder. They yearned for a path to success based on results, not hours clocked. In their book Womenomics: Write Your Own Rules for Success, due out June 2, the authors cite studies that show the increasing impact of professional women on companies' bottom lines, and give practical advice on how to create "a more sane" work life. This excerpt looks at the trade-offs many employees are willing to make to get a better work-life balance, and how companies are reacting.

BOOK EXCERPT

The hot currency in office boasting sessions is quickly moving from the number of power breakfasts to the number of school plays you've managed to make. Women may be driving the workforce revolution, but men are realizing the benefits of flexibility, too.

At Capital One Financial (COF), director of human resources Judy Pahren saw flexibility was no longer just a "women's initiative" when the company did a follow-up to a survey that had gone just to women. The financial services company had initially surveyed female associates to find out what was critical in their work lives. Overwhelmingly, the answer they got was flexibility. And the demand for it increased the more senior the women became. The next survey included the whole company. "We realized that flexibility was actually a need across our entire associate base. We had thought that maybe it was gender-based, but it was actually true of the men who worked here, too," says Pahren. A few months later, The Flexible Work Arrangements program was implemented for the whole company. It allows all employees to craft their own schedules with their managers—they can take advantage of flextime, telecommuting, a compressed workweek, or they can go part-time.

And no wonder—America is changing. "We are very much a time-famished nation. People want more control over their time," says Kathleen Christensen of the Alfred P. Sloan Foundation, which funds research relating to families and work.

Look at these stats:
• 78% of couples in this country are dual-income earners
• 63% of us believe we don't have enough time for our spouses or partners
• 74% of us say we don't have enough time for our children
• 35% of adults are putting significant time toward caring for an elder relative.

Bottom line?
• Half of us want fewer hours
• Half of us would change our schedules
• More than half would trade money for a day off
• Three-quarters of us want flexible work options

More and more workers of both sexes are willing to scale back career goals, according to Families & Work Institute data. "Reduced aspirations do not mean employees are not talented or good at what they do," explains Lois Backon, a vice-president at the Institute. "Most do want to feel engaged by their jobs. But in focus groups they also say things like 'I need to make these choices because my family is a priority' or 'I need to make these choices to make my life work.' "

Why the changing priorities? Burnout is key, say experts, and the fact that companies, even though they still long to discipline us, can't really be decent father figures anymore. Benefits, pensions, other perks, and protections are almost all a thing of the past. Not to mention job security, particularly in a downturn. Americans no longer believe they will spend a career at one shop, and they are right. The average American will hold 10 different jobs over his or her lifetime.

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