Whether a woman has just announced her resignation after maternity leave, a valued employee’s parent has fallen seriously ill or female talent is leaving your firm before explicitly taking on either challenge - your business is losing a trained, professional resource.

The costs of replacing an employee who leaves is estimated at 50% or more of the employee's salary. While it is difficult to place exact costs on these events, it is clear that they are significant. Research shows that hiring a former employee back costs half as much as a new hire. Focusing on employees who step-out of the full-time workforce specifically for child care or elder care are one of the greatest investments your company can make to achieve your retention, diversity and financial goals – over 70% of those providing child care return to the marketplace.

A Harvard Business Review article cited that fewer than 5% of women return to their employer after an absence. Often because a relationship has not been maintained, the company does not know the woman is ready to return to work. Over 70% of W2W Ventures members surveyed would welcome the opportunity to work with their former employer.

W2W Ventures offers an innovative and economical approach to retaining high-performing professional female employees through career absences - the Champion Program.

By providing a structured but flexible approach to a career absence, employers and employees maintain their relationship and establish an avenue for a successful re-entry. The Champion Program’s manageable and transparent path allows for participants to remain engaged, sharp and loyal while assisting the business in meeting changing needs:

• Short-term - program maintains relationship and continuity of the company's supportive culture
• Mid-term - employee returns for contract work when business experiences peaks in service and client needs
• Long-term - valued former employee recruited back while communicating a long-term culture committed to female advancement and flexible work

Learn more about the Champion Program

“…Given current demographic and labor market trends, it’s imperative that employers learn to reverse this brain drain. Indeed, companies that can develop policies and practices to tap into the female talent pool over the long haul will enjoy a substantial competitive advantage.”
     - Harvard Business Review, March 2005.