Though the Economy is Sour, There is an Emerging Trend in Hiring Women for Executive Positions . . . and with it, an Increase in Statistics of Another Kind

(December 1, 2009 – New York , NY )   It’s a difficult time for many executives.  But as the struggling economy tallies an ever-growing unemployment rate (10.3%), there is a new trend emerging.  As many men are losing their high-end positions, it is becoming more common to see a female counterpart put into the position.  According to the Bureau of Labor Statistics, women make up just fewer than 50% of the workforce (49.83 percent).  However, along with the increase of women in the workforce (and in primary or influential roles), there is another statistic showing forth – 40% of moms in the workforce are primary bread winners (according to The Shriver Report).

“This makes for a challenging and stressful time for women,” states Amy Friedman, Founder and CEO of the New York City based Partners in Human Resources International, a full-service Human Capitol Consulting Firm that specializes in Executive Coaching, Leadership Development, and Career Transition Services.  “Finding a balance between work and family life is something many women face at some stage in their lives.  But now, with many men finding themselves out of a job, women are finding that being the primary bread winner while raising a family to be a challenge.

Friedman is finding this trend to be one of the biggest challenges for women in the workforce right now.  She should know.  Friedman is a pioneer among a new generation of women-owned businesses and CEO’s.  She is more than the leader of her company — she's a leader in her industry.  Her strategic thinking and ability to drive change have pushed her own company to the forefront of its field, earning Partners in Human Resources International a well-deserved reputation as one of the most effective and innovative companies in the business.

“We specialize in top of the house career transition services,” Friedman said, “which means that we mostly assist directors, vice presidents, senior vice presidents, CEO and board level executives as they transition, voluntarily or involuntarily, from one career  to another.  Oftentimes, both spouses are highly-paid executives, so one can help supplement the loss in income, at least for a time, as we help one of them land in a new position.  But, with women more and more frequently landing in senior positions formerly held by men, (often as a cost-cutting move by corporations) they find themselves as the primary breadwinner.  If the expectations of full-time homemaker remain, it can almost be more than these women can manage.”

But it is life transitions that Friedman sees on a daily basis and with which she gives hearty counsel.

“I see many difficult life transitions,” states Friedman.  “For example, a highly successful, well compensated senior female executive out of the media/publishing industry has been in transition for four months.  She has been given an outplacement package of six months where in past years her company would have provided a 12-month package to someone at the Senior Vice President level.  It is unfortunate her severance and outplacement package is not more robust since she is burnt out and would benefit from stepping back to see what kind of new career would serve her and her family best at this point in her life.  Because her husband has been out of work as well for seven months and she has been the primary bread winner, she does not have the luxury to step back first before reacting and jumping into something that will ‘suffice.’  She is frustrated and clearly has underlying anger that she can’t concentrate on her needs.  The fear factor is high given that the family finances are dwindling quickly.  One of their children is a sophomore in college so this is an added pressure financially.”

This story is only one of many at this time when two-income family funds are dwindling, and the stress is high.  If the unemployment rate continues to rise, so will these types of situations.

Friedman concludes, “We have women who are facing single-parent hardships and others who, with their partners need to redistribute household responsibilities due to career changes.  We work through all of that with them to ensure that the new position and situation is sustainable for the long term.  If our clients need executive coaching that they should have received at their previous employer in order to succeed in their new position, that’s part of the experience they receive. The greatest credit to our career transition, executive coaching, and human resources consulting business model is the long-term success of the people who trust us to advise, guide, and partner with them.  The changing conditions for women as a result of a struggling economy are a big part of that.”