The economic impact of Menopause: Unveiling the hidden costs
Menopause, a natural biological transition in a woman’s life, often carries significant economic implications that are frequently overlooked. As more women remain in the workforce well into their 50s and beyond, the economic impact of menopause on individuals and industries warrants closer examination.
Economic impact on individuals
Menopause can bring about a range of physical and psychological symptoms such as hot flashes, fatigue, mood swings, and cognitive difficulties. These symptoms can disrupt daily life and productivity, often leading to economic consequences for the individuals experiencing them.
A study by the Mayo Clinic estimates that menopausal symptoms contribute to approximately $1.8 billion in lost productivity annually in the U.S., with related healthcare costs exceeding $24 billion.
- Healthcare Costs: Individuals going through menopause may face increased healthcare expenses due to frequent doctor visits, hormone replacement therapy (HRT), and other treatments aimed at managing symptoms.
- Reduced Earning Potential: Symptoms like fatigue and cognitive challenges can reduce work efficiency, potentially leading to missed promotions, lower productivity, or even job loss.
- Increased Absenteeism: Studies have shown that menopause-related symptoms can lead to increased absenteeism, affecting income stability and career progression.
Impact on the Workplace Industry
The workplace is not immune to the economic ramifications of menopause. Globally, worker productivity losses due to menopausal symptoms are estimated to be $150 billion, with related healthcare costs surpassing $600 billion. The Chartered Institute of Personnel and Development (CIPD) reports that three out of five (59%) working women between the ages of 45 and 55 experiencing menopause symptoms say it has a negative impact on them at work. With women constituting a significant portion of the global workforce, companies can potentially suffer more losses if these issues aren't taken into account.
- Productivity Loss: Menopause-related symptoms can result in decreased productivity, impacting overall business performance.
- Higher Turnover Rates: Women who feel unsupported during menopause may opt to leave the workforce, leading to increased turnover rates and associated recruitment and training costs.
- Workplace Accommodations: Progressive companies are beginning to implement menopause-friendly policies, such as flexible working hours and wellness programs, which, while beneficial, also entail additional costs.
Towards a supportive environment
Addressing the economic impact of menopause requires a multifaceted approach. Employers can invest in educational programs to raise awareness, provide health benefits that cover menopause-related treatments, and foster a supportive work environment. On a broader scale, societal recognition of menopause as a significant life stage can lead to better policies and support systems.
The economic impact of menopause extends beyond the individuals experiencing it, affecting workplace dynamics and industry costs. Recognizing and addressing these challenges is not only a matter of fairness but also an economic imperative.
Improved employee well-being: hermaid provides information, advice, and support on all aspects of menopause, which promotes the physical and mental well-being of employees.
Increased motivation and productivity: When women can better manage their menopausal symptoms, their concentration and performance increase.
Reduced absenteeism: hermaid helps reduce health-related absenteeism by providing women with early support and helping them better manage their symptoms.
Strengthened employer branding: A company that promotes the health and well-being of its female employees is more attractive to potential applicants.
Improved corporate culture: hermaid helps create an open and inclusive corporate culture where menopause can be discussed and women can receive the support they need.
Sources
CIPD | Majority of working women experiencing the menopause say it has a negative impact on them at work. (n.d.). CIPD. https://www.cipd.org/uk/about/press-releases/menopause-at-work/
SEO Starter Guide: The Basics | Google Search Central | Documentation | Google for Developers. (n.d.). Google for Developers. https://developers.google.com/search/docs/fundamentals/seo-starter-guide
Über uns - hermaid. (n.d.). https://www.hermaid.me/ueber-uns
World economic forum. (2024). The gender health gap: it’s more than a women’s issue. Here’s why. Health and Healthcare Systems. https://www.weforum.org/stories/2024/02/women-health-gender-gap-equality/
Author: Tsion Basazinew
