Most women are suffering with general self-esteem issue, according to new research.
The research, released by think tank, The WealthiHer Network, found that 79 per cent of women admitted to struggling with their self-esteem.
The newly released research provides worrying insights that the issues raised are continuing to be exasperated by several ‘knock on’ factors – the pandemic being just one. The study found over 70 per cent of women are feeling less financially secure, 71 per cent say their financial plans have been affected and 59 per cent have had to put a stop to pension retirement contributions as a result of the Covid pandemic. Worryingly, the research also showed that most men over 55* don’t think that gender imbalance is an issue.
WealthiHer initially asked over 2000 men and women questions around wealth, security, self-esteem and personal finances in 2020 prior to the first lockdown and again in October 2020 for its comprehensive Changing Face of Women Report.
The self-esteem findings are peculiar to the UK. WealthiHer also asked the same question to men and women in Hong Kong, China and Singapore. Conversely 60 per cent women across Asia said they have high or very high levels of self-esteem.
To mark International Women’s Day and to help combat these self-esteem issues, WealthiHer have announced that it would be partnering with the United Nation Foundation ‘Girl Up’ Initiative which works to educate and arm more young women with the leadership skills they need to survive, through the Network’s Project 2021, AdvanceHer programme.
Speaking about the findings, Tamara Gillan, CEO, WealthiHer, said, “The escalating shift in low self-esteem and feelings of less financial security are frankly shocking.”
“Women face a triple whammy of the gender pay gap receding by decades, a pension gap of a third and contributions to retirement pots stalling as a result of job losses and furloughing.”
“For the next generation of women, job prospects are three times lower than they were this time last year.”
“We are now on a mission to help those effected whose paths have been interrupted.”
“We want to get them access to the financial education they need and deserve and help them to thrive.”
“This is exactly what Project 2021, AdvanceHer and our partnership with the United Nation Foundation ‘Girl Up’ initiative does.”
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