Laddrr, a platform reimagining the landscape for working women from young adults to empty nesters, announced its launch so that ten million moms across the globe can climb higher in their careers.
Laddrr will be the most comprehensive resource hub for planning and managing both children and thriving careers. Young adults, parents-to-be, parents, corporate managers and policy makers will find vital information to inform their life and career choices, policy making and management decisions. Laddrr also brings together a wealth of learning from parents at different stages as well as experts and partner organizations.
Laddrr is founded by individuals who are committed to this cause. This social impact initiative is the brainchild of Ashutosh Garg, CEO, Eightfold.ai, and Kirthiga Reddy, President, Athena SPAC; formerly Investment Partner, SoftBank Investment Advisers.
The Broken Ladder
The motherhood penalty is alive and well in 2022. Consider the following:
- According to the Brookings Institution, almost 60% of college graduates are women.
- Men still occupy the vast majority of executive roles — Fortune says that only 8.8% of CEOs of Fortune 500 companies are women.
- One of the biggest reasons for this gap is caregiving. The New York Times reports that 61% of stay-at-home women aren’t working because of family responsibilities.
- In addition, it is extremely hard for women to return to the same career trajectory post maternity or other leave. According to the Institute for Women’s Policy Research, even just a year without employment can result in 39% lower pay, whereas a woman with a flourishing career and great potential has to start all over again once she takes a break of 2-3 years.
- In contrast, men see their paychecks increase by 6% with each additional child, per ThirdWay.
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All of these statistics are even more pronounced in many other countries around the world.
As a primary caregiver, many women today have to sacrifice their careers while mens’ continue to thrive. Laddrr’s goal is to change the trajectory. Working with partners across the ecosystem, Laddrr’s work will bend the curve, reduce the steep drop-off during the mid-career phase and enable an accelerated development path for returning women so they can get to the same career trajectory had they not taken a career break.
“This is the moment when we need to commit ourselves to building a future with parity at all levels, both outside and inside the corporate world,” said Kirthiga Reddy. “Having kids is important for the growth and sustenance of society. Our kids are our future. But at the same time, women shouldn’t have to choose between having kids and a thriving career.”
Ashutosh Garg said, “Today, when you take a career break to have kids and nurture them through their formative years, you are left behind in your career while your peers ascend to the next level. To mitigate these career risks, many women are having kids at a later age, which decreases the chances of a healthy pregnancy and a healthy child, creating even more societal challenges.”
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Embarking On a Mission
“Women routinely prioritize their children, partner and parents before their career and health,” said Joanna Strober, Founder of Midi Health, and co-author, Getting to 50/50. “Laddrr’s holistic approach to supporting women throughout the entire journey of parenthood will boost all parent-serving groups so together we can fix the broken ladder for women across the world.”
“We have nearly 2 million fewer women in the labor force today than we did in 2020,” said Craig Leen, formerly Director of the Office of Federal Contract Compliance Programs (OFCCP) at the U.S Department of Labor. “Women having thriving careers is critical from a societal and economic perspective. I applaud Laddrr’s vision and the bridge it provides for policy makers.”
“The global pandemic has driven more HR innovation in the past few years than over the past decade,” said Madan Nagaldinne, CHRO, Paxos. “As we establish post-pandemic norms, this is an opportunity for us to drive much-needed change in the entire infrastructure for supporting parents throughout the parenthood journey. Laddrr’s approach – guided by first-principles and data-led thinking – enables this innovation.”
“At Reddy Ventures, our focus is investment and global impact,” said Pinky Reddy of GVK. “We are thrilled to be part of the Laddrr journey from the very start, providing strategic guidance and capital for this very important mission.”
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