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Box 1354 St. Louis, MO 63188 Voice: 314-771-0200 Fax: 314-771-0300 To submit news, contact: editor@slfp.com To advertise, contact: advertising@slfp.com Industry Leaders Are Not Concerned That Women Executives Are Leaving the Workforce ST. LOUIS, (PRNewswire), May 28, 2006 - Only half of senior level business executives (49%) surveyed are concerned about mid- and upper management women leaving the workforce for personal and/or family reasons, according to a survey conducted by Harris Interactive(R) among Fortune 1000 senior-level executives for Pepperdine University's Graziadio School of Business and Management. The survey also showed many executives (38%) believe that it takes a woman between 2 and 4 years to catch up (in terms of salary and position) after leaving the workforce for more than 2 years. What's more, 12% say it will take a woman four years or more and 13% say she is unlikely to fully catch up. Although the number of women executives responding to the survey is small(1), female executives are more likely than male executives to say they are concerned about mid- and upper management women leaving the workforce (61% women vs. 47% men). "According to Pepperdine Graziadio School's market research, we estimate that in Southern California, more than 500,000 women with bachelor's degrees who have families have left the workforce," said Linda Livingstone, dean of the Graziadio School of Business and Management. "This large number combined with the survey results generates several questions. What happens to women when they return to work? Why are only half of executives concerned about women leaving the workforce? Is it because they don't view it as a problem or that the topic simply isn't an issue to them? Well, we're learning more and more that leading executives should be concerned about women leaving the workplace and that women face significant challenges if they want to return to work." "Many talented, committed women take off-ramps, but an overwhelming majority can't wait to get back in," says Sylvia Ann Hewlett, an author of a Harvard Business Review study based on women on- and off-ramping ("Off-Ramps and On-Ramps: Keeping Talented Women on the Road to Success," Harvard Business Review, March 2005). According to the survey, "Off-ramping is an important phenomenon. 37% of highly qualified women voluntarily leave their careers for a period of time -- i.e., they off-ramp. Women who've taken time off typically find re-entry into the workforce enormously difficult. 93% of women who off-ramp want to get back to work, yet only 74% succeed in obtaining jobs and only 40% return to full-time jobs." The Harvard Business Review study that was conducted also found, "Off-ramping among highly qualified women is often triggered by family responsibilities. However, despite the brevity of their time out, women lose an average of 18% of their earning power when they off-ramp. This figure rises to a staggering 37% when women leave for three or more years." "It is clear that after a prolonged absence, it's not unusual for a woman returning to work to face internal challenges "catching up" in term of skills, earning power, and acceptance among peers. Livingstone added. "Clearly, senior managers need to give more attention to addressing the needs of those women who want to return to the workforce to more effectively address long-term staffing needs." 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