Insight
Spring Budget 2023
15 Mar 2023
Elizabeth Hardwick-Smith
Group People and Culture Director
The budget brought a number of new opportunities for the construction industry. However, one of the most significant announcements was an expansion of free childcare to children under five, creating more opportunities for women to join the workforce, or to return to work after maternity leave. Group People and Culture Director, Elizabeth Hardwick-Smith, gave her thoughts on how the new childcare allowance will reduce pressure for young families returning to work.
Operating within a sector that struggles to attract and retain as many women as men, we welcome the announcement of extended childcare support for one-to-two-year-olds. Being unable to access or afford childcare is seen as significant barrier to work, especially for women. These changes will affect early years children and are intended to unlock work for those who have either felt pressured to reduce their hours or give up work completely to care for their young families.
The proposals shed further light on how this is an issue that disproportionately affects women. The Institute for Fiscal Studies research has already showed how female employment rates fall from 90% to 75%, with average weekly hours also falling from around 40 to less than 30 when women become mothers.
As a business committed to building an inclusive and diverse workforce, we fully recognise our own role in accelerating the drive for change and gender parity. We’ve made headway on developing a more inclusive candidate experience and we’ve reviewed our policies, development opportunities and people practices ensuring they are more accessible and attractive to female talent.
Our aim is to develop new pathways and gateways for women into the construction industry, engaging more early careers talent while supporting the progress of high potential women into leadership positions. We remain supportive to embracing new ways of working such as agile working practices and providing a culture where people can bring their best selves to work. Today’s proposals will help reshape our focus as we continue to drive inclusion and diversity in our business, which enable more women to achieve their full potential in the construction industry.