New research from the Chartered Institute of Personnel and Development has emphasised the importance of innovative and flexible working practices for retaining women in the workplace, hrmagazine.co.uk reports.
In the 'Inspiring Female Entrepreneurs' report, the CIPD states that the British economy could be boosted by 10 per cent if there were as many female entrepreneurs as there were male. It found that there were 2.4 million women who wanted to work, but the lack of work-life balance was inhibiting many women's options.
The report urged employers to take "urgent action" - such as adapting to flexible working - in order to prevent the "leaking talent pipeline".
It also identified several factors which would motivate women to set up their own businesses. Aside from a healthy work-life balance, these included access to guidance on training, upskilling, franchising and raising finance.
Commenting on behalf of the CIPD, public policy adviser, Dianah Worman told freshbusinessthinking.com: "It's clear from our research that women have a lot to offer to the economy.
"Employers need to act out of self interest to broaden the pools of talent available to them and ensure they do not lose out on the skills, energy and passion women can bring to their workplaces if they were allowed to work more autonomously and flexibly."