"Working women across the world continue to face wage inequality and a rollback in leadership representation-and the " motherhood penalty" makes their career success even harder. As employer demands force women in the U.S. out of the workforce, South Korean companies are stepping up to better the situation for female talent. South Korean banks have rolled out several special perks to maintain women staffers."
"To incentivize workers to have children, some South Korean companies beyond the banking sector are also putting their money where their mouth is. Earlier this year, South Korean construction company Booyoung Group announced it would give 100 million Korean won ($75,000) to each employee that has a baby. The business is also helping its parent staffers by aiding in college tuition for their kids, expensing medical coverage for direct family members, and shelling out on child allowances."
Working women worldwide face wage inequality, reduced leadership representation, and a motherhood penalty that hampers career success. Employer demands in the U.S. are pushing some women out of the workforce, prompting South Korean companies to introduce retention measures. South Korean banks now offer extended unpaid child leave that preserves rank and position, baby bonuses, and flexible work options. Foreign banks in Korea have added paid paternity leave and global parental leave policies. Some nonbank companies provide large cash incentives and family support benefits to encourage childbirth and help retain staff. Early results are positive.
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