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The great balancing act: women seeking work-life balance during COVID-19
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The great balancing act: women seeking work-life balance during COVID-19
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Content
The Great Balancing Act: Women Seeking Work-Life Balance During COVID-19
by
Karolyn Ilene Rubin
Rossier School of Education
University of Southern California
A dissertation submitted to the faculty
in partial fulfillment of the requirements for the degree of
Doctor of Education
August 2022
© Copyright by Karolyn Ilene Rubin 2022
All Rights Reserved
The Committee for Karolyn Ilene Rubin certifies the approval of this Dissertation
Kathy Stowe
Heather Davis
Courtney Malloy, Committee Chair
Rossier School of Education
University of Southern California
2022
iv
Abstract
This research carried the aim to learn more about women’s lived experiences related to work-life
balance during the COVID-19 pandemic and to offer recommendations specifically to the
financial services industry. The study was used to understand women’s lived experiences related
to work-life balance during the pandemic, individual and environmental factors that influence
work-life balance challenges for women, and how to foster work-life balance at home and work.
The aim was to understand how women can feel empowered, when navigating work-life
challenges during the pandemic, and to offer recommendations for the financial services
industry. The qualitative methodology of this study was guided by the conceptual frameworks of
Bronfenbrenner’s ecological model, the literature, the research questions, and the problem
statement. Twenty participants represented the broad population of women, ranging in age
between 29 to 64 years old and employed in the financial services industry (e.g., banking,
collections, credit, insurance, credit reporting and repair) in the United States during the COVID-
19 pandemic. Twenty-one interview questions were asked during the semi structured interviews.
Findings revealed work-life balance challenges for women employed in the financial services
industry. Work-life balance challenges for women varied based on age, marital and family status,
and access to organizational support and resources while working from home. Emerging themes
included a sense of control and empowerment, when creating self-imposed boundaries to balance
work-life demands and work-life conflict. Based on the interview findings and in concurrence
with a thorough literature review, the study outlines recommendations, and future implications
for organizations to consider when women are seeking work-life balance support, while
employed in a work from home environment in the financial services industry.
v
Keywords: gender roles, financial services industry, psychological safety, well-being,
work-life conflict, life-work conflict, work-life merge, work from home, work-life balance
vi
Acknowledgements
Where do I begin? Each person I have known personally and professionally along my
life’s journey thus far has influenced and shaped me into the person I am today, and who I will
be in the future.
First, I would like to acknowledge and thank my research participants. Your willingness
to participate and be vulnerable and transparent, while sharing your work-life balance
perspectives and experiences during the COVID-19 pandemic, became an invaluable resource in
informing organizations why work-life balance initiatives and support in the organization’s
culture and its workforce matter. Your truth was heard, and your call to action to organizational
leaders can reframe how the financial services industry’s workplace culture can best support its
generational workforce’s work-life balance needs, with or without the environmental disruption
of a pandemic.
I would like to thank Cohort 16, faculty, and staff at the University of Southern
California Rossier School of Education. You each exemplify Rossier’s mission. Each of you
provided the right amount of fuel and energy, support, and encouragement I needed throughout
the OCL program. Thank you for believing in me, and I am forever humbled and honored to be
part of the Trojan family. Fight On!
I would like to extend a warm appreciation and undying gratitude to my dissertation
committee: chair, Dr. Courtney Malloy, and committee members, Dr. Kathy Stowe and Dr.
Heather Davis. Your committee work and service is to be recognized and commended. Each of
you made a significant impact and contribution spending endless hours of dissertation reviews
and providing me with candid feedback which prepared me to success of my final defense and
become a distinguished alumnus of USC with my Doctor of Education. Perhaps one day, I can
vii
join the ranks of the USC faculty to help guide future OCL Trojans in their educational
aspirations and journey. Fight On!
I would like to acknowledge my parents, son, brother, family, and friends. You have a
special place in my heart, and I love you always and forever. Your unconditional support and
encouragement helped me who I am today and who I will become in the future. You were there
to cheer me on, while I pursued my personal and professional goals, throughout my entire life.
When I felt like falling, you were there to lift me back up. When I ran out of energy, you let me
rest. When I had self-doubt, you reminded me how to believe in myself. When I had barriers and
obstacles in my life’s journey, you provided me strength to overcome each roadblock. Thank you
for giving me purpose and a reason to put my best foot forward each day. I will always be your
Morning Glory, your Bashert, your Best Friend, your Wonder Woman, your Forever, and Rudy’s
Mom.
Rudy, the day you were born forever changed my world. You are my Why. You are my
Balance. You are my pride and joy. Always be happy, healthy, and terrific! I love you more than
words can say.
viii
Table of Contents
Abstract iv
Acknowledgements vi
List of Tables xi
List of Figures xii
Chapter One: Introduction to the Study 1
Context and Background of the Problem 2
Purpose of the Project and Research Questions 4
Importance of the Study 5
Overview of Theoretical Framework and Methodology 7
Definitions 8
Organization of the Dissertation 9
Chapter 2: Literature Review 11
COVID-19’s Disruption of Women in the Workforce 11
Gender Role and Equity 13
Gender Role Gap and Bias in the Financial Services Industry During COVID-19 14
Work-Life Balance 16
Work-Life Balance During COVID-19 18
Work-Life and Life-Work Conflict 20
Work-Life or Life-Work Merge 21
Challenges for Women During COVID-19 22
Legislative Issues 22
Psychological Safety During COVID-19 23
Well-Being During COVID-19 25
Organizational and Social Support for Women in Financial Services During COVID-19 27
ix
Child, Elder, and Family Care During COVID-19 28
School and Childcare Facility Closures During COVID-19 30
Working From Home Environment During COVID-19 31
Conceptual Framework 34
Chapter Three: Methodology 40
Research Questions 40
Overview of Design 40
Research Setting 41
The Researcher 41
Data Sources 42
Interviews 43
Participants 43
Instrumentation 44
Data Collection Procedures 44
Data Analysis 45
Validity and Reliability 46
Ethics 46
Chapter Four: Findings 48
Participants 48
Findings: Research Question One 48
Defining Work-Life Balance 51
Importance of Work-Life Balance 54
Work-Life Balance During the COVID-19 Pandemic 60
Findings: Research Question 2 69
Individual Factors Influencing Work-Life Balance During COVID-19 69
x
Work-Life Balance Boundaries 74
Findings: Research Question Three 77
Environmental Factors that Influence Work-Life Balance During COVID-19 77
Workplace Conflict Affecting Women’s Work-Life Balance During COVID-19 93
Summary 95
Research Question 1 96
Research Question 2 97
Research Question 3 99
Chapter Five: Discussion and Recommendations 102
Discussion of Findings 102
Recommendations for Practice 109
Recommendation 1: Work-Life Balance Integration Policies in the Workplace. 110
Recommendation 2: Provide Individualized Wellbeing Programs to Help Employees Manage
Work-Life Balance Challenges While Working From Home 111
Recommendation 3: Develop Work-Life Coaching and Training Programs for Organizational
Leadership Teams to Provide Employees with Equitable Social Support, Knowledge Capacity,
and Resources While Working in a Home Environment 113
Limitations and Delimitations 116
Implications for Future Research 117
Conclusion 119
References 121
Appendix: Interview Protocol 140
xi
List of Tables
Table 1: Overview of Participants ................................................. Error! Bookmark not defined.
xii
List of Figures
Figure 1: Bronfenbrenner’s Ecological Systems Theory’s Model ............................................... 35
Figure 2: Application of Bronfenbrenner’s (1979) Ecological Model on Women’s Lived
Experiences on Work-Life Balance During COVID-19. ......................................................... 36
1
Chapter One: Introduction to the Study
The COVID-19 pandemic, beginning in March 2020, has been the largest single global
workforce disruptor since the 1918 influenza pandemic (Sharma et al., 2021). The pandemic has
reframed corporate America’s workplace culture and structural staffing models for all
generational cohorts employed in the workplace. Within weeks of the pandemic, the
organizational landscape changed workplace norms. An influx of traditional in-office business
models shifted to temporary and permanent work-from-home environments (Coban, 2021;
DeBellis, 2021; Li, Ghosh et al., 2020; Li, Rajashi et al., 2020). The migration to a work-from-
home environment magnified the broad implications for women, who had already been
challenged with managing work-life balance demands between career and their responsibilities at
home (Carli, 2020). The additional time needed to either care for family (e.g., children, elder
care, spouse, or partner) and personal interests outside of work and home during the pandemic
negatively impacted women’s wellbeing (Carli, 2020; Como et al., 2021; Shockley et al., 2021;
Utoft, 2020; Wright et al., 2020).
Women experienced disproportionate work-life balance demands due to an influx of
work disruptions during the COVID-19 pandemic. Work-life balance demands, and work
disruptions included the shift from reporting to work at an office to a work-from-home
environment, scaled back work hours, and voluntary or involuntary employment terminations to
accommodate child, elder or other domestic care responsibilities at home, when school, daycare
or domestic care resources (e.g., nanny services, housekeepers) closed (Carli, 2020; Collins et
al., 2020). The effect COVID-19 had on work-life balance for women during the pandemic
added a subset of issues experienced by women. Issues include compromised career paths and
wage losses, psychological safety, and well-being, including increased stress, exhaustion,
2
burnout, lack of trust, feelings of isolation and despair. (Carli, 2020; Johnson, 2020; Levin &
Kurtzberg, 2020; Oleschuk, 2020; Shockley et al., 2021; Switzer, 2021; Ranjitha et al., 2021;
Woodbridge et al., 2021; Yavorsky et al, 2021).
The purpose of the study was to learn about women’s lived experiences related to work-
life balance during the COVID-19 pandemic and to offer recommendations specifically to the
financial services industry. The study sought to understand women’s lived experiences related to
work-life balance during the pandemic, individual and environmental factors that influence
work-life balance challenges for women, and how to foster work-life balance at home and work.
Context and Background of the Problem
The U.S. Federal Trade Commission (U.S. FTC, 2021) defined the financial services
industry as a broad representation of companies that operate in private or public banking,
insurance, mortgage lending, wealth management, credit, and collections sectors. These
organizations primarily engage in operations that manage the ebb and flow of money in the
economic cycle (U.S. FTC, 2021; Illinois Department of Insurance [IDOI], 2021; Phaneuf, 2020;
Securities Exchange Commission [SEC], 2021; Van den Berghe & Verweire, 2001). Before
COVID-19, financial service organizations did not have a work-from-home strategy to offer
work-from-home options for employees, due to insufficient processes to protect personal
identification data (i.e., consumer social security numbers, business identification numbers;
Kaushik & Guleria, 2021). Consequentially, financial service companies were challenged with
creating a business environment conducive for employees to work from home, when government
officials and community leaders closed businesses and mandated people stay home. The
restrictions imposed on companies may have contributed to many layoffs and furloughs for
individuals employed in the financial services industry during COVID-19 (Kaushik & Guleria,
3
2021). The U.S. Bureau of Labor Statistics reported consumer data and privacy concerns
contribute to the vast number of layoffs, furloughs, and job eliminations for women employed in
the financial services industry during COVID-19 (BLS, 2020a, Kaushik & Guleria, 2021).
In the financial services industry, women were more impacted than men were during the
COVID-19 pandemic (Kabeer et al., 2021). Before COVID-19, 6,000,000 women represented
57% of the workforce employed in the financial services industry (Banergee et al., 2020; Byham,
2021; Deloitte, 2019). The prepandemic forecasted model of women’s presence in the financial
services declined to almost 40% in the first 9 months of the pandemic, due to related external
workplace disruptions, such as childcare or school closures (Banergee et al., 2020; Catalyst,
2020; Connley,2021; Ellingrud et al., 2021; Kashen et al., 2020).
In the first year of COVID -19, almost 3,000,000 women in the financial services
industry left the workforce (Connely, 2020). The COVID-19 pandemic crisis unfavorably tipped
the scales against women employed in the workforce. The mass departure of women exiting the
workforce during COVID-19 grew exponentially during the first 2 years of the pandemic. Lack
of childcare and school closures were the top causes of women leaving the workforce during the
pandemic (Heggeness & Field, 2020; Kashen et al., 2020). Women’s work-life balance became
compromised and imbalanced. Women put their careers on hold, due to workplace disruptions,
such as childcare or school closures and managing additional caregiving responsibilities during
COVID-19, leaving many women no choice but to resign or reduce their hours of work (Byham,
2021; Zenger & Folkman, 2019). Leaving the workforce decreased women’s well-being, leading
to increase levels of anxiety and depression (Zamarro & Prados, 2021).
Less than 1,000,000 women who lost their jobs in 2020 reentered the workforce between
January 2021 and January 2022 (Carrazana, 2021, 2022). Women found it challenging to reenter
4
the workforce for several reasons. First, women experienced increased family-life demands that
overshadowed work. Next, women found themselves positioned as the primary care providers for
family members sick, due to the COVID-19 virus. Also, women did not have adequate access to
financial resources for additional caregiving. Health and safety concerns also created barriers for
women returning to work (Carrazana, 2021, 2022).
COVID-19 caused many challenges for women employed in the financial services
industry and increased the time needed to manage new and existing work-life balance demands
(Zamarro & Prados, 2021). First, women who reported to an office before the pandemic had to
adjust resources at home to accommodate their work-from-home environments quickly. Second,
when schools closed, women promptly needed to learn how to adapt to teaching and tutoring
school-aged children. Also, women multitasked and managed nonschool-aged children, elders, or
other family members living at home due to stay-at-home orders, affecting childcare or domestic
care service closures (Zamarro & Prados, 2021).
Purpose of the Project and Research Questions
This research was completed with the aim to learn about women’s lived experiences
related to work-life balance during the COVID-19 pandemic and to offer recommendations
specifically to the financial services industry. The study supports understanding women’s lived
experiences related to work-life balance during the pandemic, individual and environmental
factors that influence work-life balance challenges for women, and support to foster work-life
balance at home and work. The aim was to understand how women can feel empowered when
navigating work-life challenges during the pandemic and offer recommendations for the
financial services industry. The following research questions will guide the study:
5
1. What are the perceptions of women in the financial services industry regarding their
work-life balance during COVID-19?
2. What are the perceptions of women in the financial services industry regarding the
individual factors that influence work-life balance during COVID-19?
3. What are the perceptions of women in the financial services industry regarding the
environmental factors that influence work-life balance during COVID-19?
Importance of the Study
Throughout COVID-19, organizations in the United States complied with Center for
Disease Control (CDC) recommendations for citizens to stay at home, maintain social distancing
protocols, and adopt alternative options for employees to work from home. For many women,
their presence in the workforce diminished throughout COVID-19. Several factors have
contributed to fewer women in the financial services industry workforce, such as changes to
school, childcare, and eldercare services. Other family support resources that became scarce
during the pandemic include access and limitations to adequate homecare resources (e.g.,
nannies or external family members) for non-school-aged children. The choice for women to
reenter office environments and regain a semblance of work-life balance after the relief of
COVID-19’s social distancing and stay-at-home mandates did not relieve the burden of work-life
and life-work conflict for women (Graham et al., 2021). Abundant resources women depended
on to regain a sense of normalcy in homes, and work became nonexistent due to external
environmental factors, such as labor pool shortages, impacting schools, child, and elder care
programs (Ellingrud & Segel, 2021). Women have encountered several environmental factors,
such as school or childcare closures (Ellingrud & Segel, 2021; Gragnano et al., 2020). Also,
women have experienced individual factors that compromised their work-life balance, such as
6
their family’s increasingly dependent needs and limited space at home to manage family and
work. Women chose to stay out of the workforce or continue to drive work-life imbalance
outcomes (e.g., burnout, stress, compromised well-being), while managing family
responsibilities and working from home (Gragnano et al., 2020).
There are many short- or long-term implications work-life imbalances have on
organizations in the financial services industry and the ability to regain their women workforce
to prepandemic employment levels (Kelliher et al., 2019. Economists predict it will take nearly
100 years to close the gender equity gap for women and organizations. The same length of time
is needed to structurally support and provide women with resources to manage the work-life
balance demands and to eliminate having to choose between work, family, or life interests
outside of work and home and return to the labor force (Byham, 2021; Kelliher et al., 2019;
Ranjitha et al., 2021). There is insufficient data to determine what percentage of women will
temporarily or permanently remain out of the workforce in companies in the financial services
sector during or after the pandemic (Byham, 2021; DeBellis, 2021; Ellingrud & Segel, 2021).
Women reentering the financial service workforce postpandemic will do so with skill and
knowledge gap loss, the absence or abandonment of social connections, and mentor relationships
that would otherwise help women gain reentry back at work (Noback et al., 2016).
Consequences for women managing the demands of work-life balance during COVID-19
have far-reaching emotional, physical, and financial implications (Ranjitha et al., 2021). Work-
life balance perpetuates conflict in an individual’s (e.g., women’s) ecosystem (Chung & Van der
Lippe, 2020). The intersecting conflict in a women’s ecosystem impacts a woman’s social class
identity, as they question the need to choose between career goals, family or life aspirations, such
as marriage and children, and outside interests and hobbies. Also, work-life balance imposes a
7
physical toll on women’s well-being (e.g., stress, anxiety, burnout, exhaustion), leading to
further physical implications and psychological safety at work, which can be disrupted with fear
of losing employment or ability to reenter the workforce postpandemic (Ranji et al., 2022).
Further, women choosing life over work demands experience loss or reduced wages,
compromising women’s abilities to pay for everyday living expenses (Bateman & Ross, 2020;
Collins et al., 2020; Como, 2021; Oleschuk, 2020; Switzer; 2021). Women’s choices while
navigating work-life balance in a work-from-home environment during the pandemic may
further influence societal gender and social and cultural norms that induce stereotypes and
gender bias in an organization’s culture (Chung & Van der Lippe, 2020.). Finally, when there is
a lack of support in an organization’s workplace culture, companies employing women in the
financial services industry can experience the impact of rippling effects associated with
productivity and revenue losses resulting from decreases of employee morale and retention
(Scheiman et al., 2020). Additional losses include the loss of knowledge transfer needed to
mentor and development employees in the organization (Scheiman et al., 2020).
Overview of Theoretical Framework and Methodology
Bronfenbrenner’s ecological model is the theoretical framework for this study. This
theory posits that four layers embedded in the ecosystem change over time and influence
individuals. The ordering of these concentric layers nearest to the individual (i.e., female
employee) are the (a) micro (i.e., family, children, community), (b) meso (i.e., connects other
ecosystem’s external factors), (c) exo (i.e., COVID-19, work, work-life balance, work from
home), and (d) macro (i.e., gender role bias, values and beliefs influenced by social and cultural
norms and societal, structural, and institutional systems). The ecological model provides a
systematic way to understand the influence of the environment through multilayered internal and
8
external interconnections and relationships in the ecosystem layers that fluctuate dynamically
and affect individuals (Borland et al., 2014; Salazar, 2000).
A qualitative research method was used for this study. Qualitative research methods
allow researchers to understand how people interpret experiences from the perspective of their
worldviews by observing individuals in the environment or collecting data through interviews or
documented artifacts (Merriam & Tisdale,2016). Women in the financial industry were
interviewed to learn about their work-life balance experiences during the pandemic and the effect
the COVID-19 pandemic has on the individual and environmental factors associated with their
work-life balance.
Definitions
This section provides key terms related to the problem of practice and literature review in
the study.
Gender role are social constructs based on general social roles (i.e., men go to work and
women care for children) determined by the biological sex assigned at birth and learned during
one’s formative years (Eagly & Sczesny, 2019).
Psychological safety in the workplace stems from the individual’s perception of the
workplace environment and a person’s diminished sense of control in fulfilling their job duties.
Employees may fear expressing opinions or feelings of being threatened or unsafe conditions,
leading to negative consequences on self-image, status or career, and overall satisfaction with
work and life (Como, 2021; Lee, 2021; Prasad et al., 2020).
Well-being is related to all aspects of working life, including how it impacts an
employee’s emotional well-being, such as anxiety, stress, burnout, or exhaustion, which may or
may not compromise a person’s physical well-being, such as chronic illnesses including
9
migraines, ultimately influencing how an employee feels about their work and working
environment (Segel, 2021).
Work from home is an arrangement in which an employee does not commute to a central
place of work, and the primary office is in the home (Kylili et al., 2020; Manzo & Minello,
2020).
Work-life balance is the ability or inability to disconnect from work-related obligations
by separating work responsibilities from personal life interests and family responsibilities
(Carnevale & Hatak, 2020).
Work-life conflict and life-work conflict occur when work (i.e., employer) and life (i.e.,
family, children, eldercare, interests, hobbies, or education) negatively impact and conflate each
domain (i.e., work, life, family). Conflict in either domain becomes challenging to manage due to
incompatible pressures an individual feels or experiences (Greenhaus & Beutrell, 1985;
Woodbridge et al., 2021).
Work-life merge is the ability of both employees and organizations to adapt and manage
through change due to unforeseen changes to external environmental factors such as COVID-19
(Sharkey & Caska, 2019).
Organization of the Dissertation
This dissertation is organized into five chapters. Chapter 1 includes the overview of the
study, context, background of the problem, the purpose of the project and research questions,
importance of the study, overview of the theoretical framework and methodology used in the
study, definitions, and organization of the dissertation. Chapter 2 consists of a review of the
literature and overview of the COVID-19 pandemic and its effect on essential business office
environments, gender roles and equity for women employed in the financial services industry,
10
work-life balance, work-life and life-work conflict, and challenges for women during COVID-
19, including legislation issues, psychological safety, well-being, organization and social
support, child and elder care, school closures, and work from home environment. Chapter 2 also
provides an overview of the conceptual framework used in this study. Chapter 3 introduces the
methodology of the study, research questions used to inform the research, overview of the
participant recruitment and selection process, qualitative data and collection of instruments,
interview protocol and procedures, interview questions asked of participants, data analysis,
reliability, and validity, ethics, and research limitations and delimitations. Chapter 4 provides the
results and findings informed by the three research questions in the study. Chapter 5 offers
discussion and outlines recommendations drawn from the research findings and implications for
future research.
11
Chapter 2: Literature Review
This literature review examines imbalances women experienced related to work-life
balance during the COVID-19 pandemic. Although emerging literature has addressed current
trends and the short-term impact on women’s related experience to work-life balance since the
inception of COVID-19, it does not discuss the long-term implications for women employed in
the financial services industry in the United States. The literature reviewed includes the COVID-
19 pandemic and its effect on essential business office environments, gender role gaps in the
financial services industry, work-life balance, and work-life and life-work conflict. The literature
reviewed also addresses challenges for women during COVID-19, including legislation issues,
psychological safety, well-being, organization and social support, child and elder care, school
closures, and work from home. Bronfenbrenner’s ecological systems theory is drawn on for the
conceptual framework to view the problem statement and research question.
COVID-19’s Disruption of Women in the Workforce
March 2020 introduced to the world one of the largest, most unprecedented health,
environmental, and economic disruptions recorded in this century (Sharma et al., 2021). Unlike
other pandemics and economic recessions in years past, the COVID-19 pandemic became the
catalyst for changing employment opportunities and livelihoods for women in the United States
(Sharma et al., 2021). Since tracking employment records in 1948, the United States has seen the
most significant spike in unemployment occur in 1 month, reaching almost 15% by April 2020
(U.S. BLS, 2021). The number of individuals unemployed went from 15.7 million to 23.1
million by December 2020 (U.S. BLS, 2021; Collins et al., 2021). The workforce in the United
States has not seen this magnitude in unemployment numbers since the Great Depression (U.S.
BLS, 2020a).
12
The COVID-19 pandemic established many never-before-seen trends in the U.S.
economy. In past economic recessions, going back as far as the 1918 Spanish Influenza, 1933
Great Depression, and 2008 Great Recession, unemployment impacted more men than women
(Cohen, 2020; Heggenes & Fields, 2020). Like other past economic, environmental, or health
disruptions, the COVID-19 pandemic affected both men’s and women’s employment status and
lost income (Cohen, 2020; Heggenes & Fields, 2020); however, COVID-19 has
disproportionately impacted women, especially women with child or eldercare responsibilities at
home. In February 2021, women’s participation in the workforce hit an overall low of 33%, a
direct result of over 5.3 million who left employment since the beginning of the COVID-19
pandemic in March 2020 (Srikanth, 2021). During this same time frame, 2.7 million men
simultaneously re-entered the workforce (Srikanth, 2021).
In mid-March 2020, at the CDC (2020) recommendation, government leaders throughout
the United States imposed stay-at-home orders for nonessential workers to stop the spread of
COVID-19. The order affected 80% of the workforce (Kaushik & Guleria, 2020). At the same
time, businesses tried to quickly put together and enforce a work-from-home plan (Kaushik &
Guleria, 2020). Many external factors, such as school and childcare facility closures,
simultaneously impacted women’s ability to work effectively from home (Collins et al., 2021).
The effect of school and childcare closures created anxiety and uncertainty for women when
burdened with balancing work obligations, while managing school and childcare responsibilities
at home (Collins et al., 2021).
By mid-July 2020, the U.S. Census Bureau reported 68% of working mothers, compared
to only 12% of men between 18-65 years old, stayed at home to manage childcare
responsibilities during COVID-19 (Collins et al., 2021). Women stayed at home using paid time
13
off (PTO), taking time off work with no pay, working less than 40 hours per week, taking early
retirement, or resigning from employment (Collins et al., 2021; Cohen, 2020; Heggenes &
Fields, 2020). The ongoing pandemic has positioned organizations and their female workforce
with challenges of labor shortage. Data shows at the onset of COVID-19, one in five women
were forced out of the workforce, and early trends in 2022 indicate only two out of three women
intended to reenter, with the intention of a career path change (McKinsey, 2021). Research
shows women are hesitant to return to the workforce for reasons including lack of child or elder
care resources, the influx of school openings and closures, lack of flexibility, and work from
home support from their employer, leading to stress, burnout, exhaustion, and anxiety (Lui,
2021). Over 42% of women have chosen to downsize their presence at work or leave
employment altogether during the pandemic, compared to 25% expressing the same choice
before the pandemic (McKinsey, 2021).
Gender Role and Equity
Gender role matters when examining work-life balance outcomes. Women’s flexibility
varies, depending on their social identities, such as being single, married, with children or no
children, or tending to other family members inside or outside the household, such as eldercare
(Chung et al., 2020). During the pandemic, social and cultural norms have influenced gender role
expectations, such as household chores and caregiving (Uddin, 2021). Gender roles are
reinforced by internal factors in the women’s ecosystem, such as family structures (i.e.,
dependents or family members residing in and outside of the home) and the expectations in the
household, such as childcare and domestic chores (Beigi & Shirmohammadi, 2017; Chung et al.,
2022). Research has shown dependents (i.e., children or others in need of care) seek support
from mothers or women for all caretaking needs (Chung et al., 2020; Uddin, 2021). As such,
14
during COVID-19, women found themselves reorganizing their daily routines, when home
environments changed for all family members, from a place of family to one that included
workplace, school, social gatherings, and entertainment (Uddin, 2021).
Although gender role inequity issues existed for women before the pandemic, its present-
day perpetuity is driven by how individuals perceive gender roles rooted in belief systems in
cultural, social, institutional, and structural norms. Gender role inequity is second-order
discrimination that arises after inclusion and is a form of bias or unrecognizable assumptions that
create a disadvantage for women without intent (Bailyn, 2011; Eagly & Sczesny, 2019). The
origins of gender inequities are grounded outside of the workforce in social and cultural systemic
norms that categorize roles for men, such as being a primary wage earner, and for women, such
as taking care of the household and family, and are often carried into the workplace environment
(K. Miller, 2018; Reichelt et al., 2021).
Gender Role Gap and Bias in the Financial Services Industry During COVID-19
Many women had exposure to several gender role gaps throughout the pandemic. Gender
role gaps are differences men and women experience at home or work, such as work-life balance
(Goldin, 1990). In dual or single-parent households managing a child or elder care and
overseeing home schooling and household duties when working from home, women were
impacted more by work-life balance issues during COVID-19 than men were (Feng & Savani,
2020). Research detected that during the onset of childcare and school closures, 45% of women,
compared to 14% of men, who were laid off or resigned from work during COVID-19 were the
sole providers of care for their children (Zamarro & Prados, 2021). Thirty-three percent of
women, compared to 11% of men, still employed during COVID-19, reported being the sole
providers of care for their children when schools or childcare resources remained closed
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(Zamarro & Prados, 2021). Gender role responsibilities assumed by women during COVID-19
may explain why at the onset of the pandemic, over 4,000,000 women departed from the
workforce (Alon et al., 2020; Connely, 2020).
Although gender role bias in the workplace also existed before COVID-19, other gender
role gaps related to preconceptions of men or women’s roles at work and home forged during the
pandemic. Preconceptions stem from social, cultural, institutional, and structural norms that can
change over time in society (Eagly & Sczesny, 2019; Heilman, 2012; Hentschel et al., 2019).
Gender stereotype bias stems from an internal belief system of how each gender personally and
professionally view themselves (e.g., role as a family caregiver to children, role as primary
income provider, combined role as a caregiver and income provider) and other individuals in
their ecosystems (Eagly & Sczesny, 2019; Hentschel et al., 2019). The assumptions of how
individuals view their gender role often influence dual-parent households, when choosing
between one another who will stay at home with children, when COVID-19 has caused limited
access to childcare or school (Coban, 2021). The implications of these individual choices have an
overarching effect on leadership and decision makers at organizations who view gender roles at
work.
Gender stereotype bias in a work environment may influence leadership or coworkers’
decisions or engage with similar or different gender identities. Decision making and engagement
are based on the individual’s perceptions of work-related commitments to the job, such as
necessary hours needed to perform the job or when family obligations overshadow work
obligations when working from home (Eagly & Sczesny, 2019). The internal belief systems of
individuals infiltrate and become the fabric of belief systems embedded into workplace culture.
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Studies show that during COVID-19, 80% of women in leadership roles were more
understanding of women who had work-life balance conflict, compared to 72% of men in
leadership roles (Ellingrud et al., 2021). Research also shows leadership at companies is
impartial and more lenient toward women with family (i.e., children or elder care) obligations
than about the obligations of their contemporaries without family responsibilities (Coban, 2021).
Biased opinions at work by leadership expose other biased outcomes, such as favoritism or
special privileges at work (Coban, 2021).
Research shows when external workplace disruptions, such as COVID-19, occur, men
assume women will shift their focus away from work to care for family or childcare
responsibilities (Eagly & Sczesny, 2019; Hentschel et al., 2019; Noback et al., 2016). Forty-two
percent of women, compared to 30% of working fathers, employed during COVID-19 reduced
work hours to manage child or eldercare responsibilities (Zamarro & Prados, 2021). As a result,
work-life and life-work conflict ensues and begins to form an undue burden between choosing
work (i.e., role and responsibilities) and life outside of employment, such as family (Gragnano et
al., 2020). When women attempt to balance both, they decrease psychological safety and well-
being levels and further widen the gender role gap in pay or career advancement equity
(Gragnano et al., 2020; Woodbridge et al., 2021).
Work-Life Balance
Work-life balance is the desired state of managing work and life interests,
responsibilities, and obligations, without compromising or favoring one over the other, and the
ability to disconnect from work-related duties by separating work responsibilities from personal
life interests and family responsibilities (Carnevale & Hatak, 2020; Parkes & Langford, 2008;
Sharkey & Caska, 2019). Scholars have identified that work-life balance is not universal; it does
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not mean equal balance and will vary over time (Meenaskhi et al., 2013). Researchers have
suggested the definition of work-life balance is subjective and must frame an individual’s (i.e.,
women’s) needs (Sharkey et al., 2019). Definitions of a woman’s work-life balance includes
positionality and intrinsic needs in the ecosystem (Sharkey et al., 2019; Wilcox, 2020). Work-life
balance is also broad and consists of two components: (a) how an individual categorically ranks
the importance of each construct in their ecosystem and (b) how the individual allocates the
percentage of time to the ranked construct, such as how one defines working hours, time spent
with family, and time outside of family and work, such as hobbies and interests (Sharkey et al.,
2019).
The absence of work-life balance or disruption often stems from either life event changes
(e.g., marriage, divorce, children) or external factors, such as societal, structural norms, and
environment, such as COVID-19 (Sharkey & Caska, 2019). When work-life balance is missing,
several adverse outcomes can occur, such as the demise of a person’s psychological safety or
well-being (Graham et al., 2021). Further, change happens and disrupts an individual’s
ecosystem, and individuals no longer have access to resources or time needed for work or life
obligations; the outcome leads to work-life imbalance impacting the individual and constructs
(i.e., employer, family) residing in the ecosystem (Graham et al., 2021; Muralidhar et al., 2020;
Ranjitha et al., 2021; Sharkey & Caska, 2019; Uddin, 2021).
Successful work-life balance fosters mutually beneficial relationships between the
employee (i.e., women) and employer. Organizations need to consider employees’ work-life
balance needs and allocate the required time between work and the employee’s personal life,
such as family, friends, hobbies, or interests (Muralidhar et al., 2020). Organizations also benefit
when work-life balance is inclusive of the company’s culture leading to increased productivity
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and employee retention, reduced health care costs and absenteeism, improved employee morale,
and a broader pool of candidates seeking employment (Muralidhar et al., 2020). Studies show
individuals’ well-being and quality of life increase when work-life balance is present (Uddin,
2021).
Work-Life Balance During COVID-19
Work-life balance is the primary challenge women encountered during COVID-19, and
research indicates women have increasingly experienced worse imbalances than men have,
throughout the pandemic (Gragnano et al., 2020; Uddin, 2021). While women across all age
groups stated family and health fell in the Top 25% of critical nonwork domains, men said their
top concern was the risk associated with job loss (Gragano et al., 2021; Graham et al., 2021). The
excess worry over the health and safety of family and friends made it difficult for women to
establish reasonable boundaries that existed before the pandemic (Carnevale & Hatak, 2020).
Work-life balance impacts women with and without family or life obligations differently
(Zamarro & Prados, 2021). Women employed during COVID-19’s labor market, single or
married and with children or elder care, shouldered the burden of care when external resources
such as daycare, schools, eldercare, or housekeeping facilities suspended daily services
(Carnevale & Hatak, 2020; Zamarro & Prados, 2021). Women lost their work-life balance when
managing work and home obligations during COVID-19. Several factors contributed to the
disproportionate work-life balance aspect of women’s lives. One factor is juggling child or
eldercare demands, when caregiving services and schools are closed (Carnevale & Hatak, 2020).
Another factor is women’s focus on health and safety, such as family and friends (Carnevale &
Hatak, 2020; Graham et al., 2021). Balancing work and personal commitments imposed an
additional 20 hours onto women, who took the primary role of homeschooling and childcare, in
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addition to work responsibilities (Byham, 2020). Women without any outside family obligations
felt slighted by employers providing flexibility in scheduled work hours to their contemporaries
because life demands such as hobbies or interests were not considered mandatory or on the same
level of importance as family.
Research showed by April 2020, one in four women reduced their hours at work to
accommodate childcare and school closures. By mid-year 2021, nearly 60% of women left or did
not return to the workforce for reasons such as being dissatisfied with work-life responsibilities
or job satisfaction (Byham, 2020; Deloitte, 2021). Conflicts between nonwork life or family
interest and employment lead to an increase in job loss (i.e., resignation or reduced hours), a
decrease in psychological safety such as the fear of job loss or works retaliation, overseen for
promotion or pay increase (Gragnano et al. 2020). Studies show a correlation between a
women’s age and consequential outcomes when work-life balance is misaligned or absent, such
as physical health related to chronic illness such as migraines and emotional well-being such as
stress, burnout, and exhaustion (Gragnano et al., 2020). Also, all women, regardless of age, have
experienced increased absenteeism at work, emotional exhaustion, workaholism, and
psychological safety distress (Gragnano et al., 2020; Uddin, 2021).
The evolution of work-life balance for an individual is dynamic and is a constant state of
change (i.e., daily, weekly, monthly, or over extended time) of the individual. Perspectives of
what work-life balance should or should not include will vary based on other constructs such as
the individual’s intrinsic needs, generational cohort, and age (Gragnano et al., 2020). Three
variables determine how an individual ranks the level of work-life balance importance: what it is
(e.g., work, family, education, hobbies, interests), who it is (e.g., children, family, employee-
employer relationships), and why balance needs to take places such as working from home
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during COVID-19 or childcare or school closures (Gragnano et al., 2020). When work-life
balance unravels or is absent, is it an outcome of the work-life or life-work conflict, leading to
other dire consequences impacting the individual’s psychological safety and wellbeing (Craig &
Churchill, 2021; Greenhaus & Beutell, 1985; Meenakshi et al., 2013; Ranjitha et al., 2021).
Work-Life and Life-Work Conflict
Work-life and life-work conflict occur when work (i.e., employer) and life (i.e., family,
children, eldercare, interests, hobbies, or education) negatively impact and conflate each each
(i.e., work, life, family). As such, the conflict makes work and life difficult to manage, due to
incompatible pressures an individual feels or experiences (Greenhaus & Beutrell, 1985;
Woodbridge et al., 2021). Research has found married women with children hold the highest
level of conflict, and all women, regardless of family structure, age, or other generational cohort
constructs, experience forms of conflict (Gragnano et al., 2020; Woodbridge et al., 2021).
Conflict also appears when individuals (i.e., women) fail to set boundaries or disconnect from
work engagement, when working from home or staying connected through technology resources,
such as laptops or cellphones (Meenakshi et al., 2013). The inability to establish boundaries or
disconnect to eradicate conflict increases a women’s feelings of anxiety, stress, exhaustion, and
emotions associated with psychological safety, such as the fear of job reprimands or elimination
(Chung, & Van der Lippe, 2020; Graham et al., 2021; Meenakshi et al., 2013). Research shows
48% of women experience higher levels of conflict, regardless of marital or family status, when
children between the ages of 0-5 years old are simultaneously present in a work-from-home
environment, with inadequate workspace or equal division of household chores (Graham et al.,
2021). Other studies found women, in comparison to men, who experienced conflict had less
difficulty adjusting to the increased life or family care during COVID-19 because they had
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already assumed the role of the caregiver before the pandemic (Chung & Van der Lippe, 2020;
Craig & Churchill, 2021).
Studies have found although flexible work schedules help women control their work and
nonwork schedule, it leads to conflict outcomes (Craig & Churchill, 2021). Flexible work
schedules compromise a woman’s well-being, when time is reallocated elsewhere to extended
work hours by elongating the day into hours late at night (Chung & Van der Lippe, 2020; Craig
& Churchill, 2021) Factors in a women’s ecosystem, such as social and cultural norms and
workplace culture, with values and beliefs in alignment show report a higher tolerance of
acceptance for flexibility when women have young or elder family commitments versus women
who are single with no outside work obligations except for hobbies or interests (Gragnano et al.,
2020). Work-life or life-work merge and balance takes shape when conflict is no longer present
among the myriad of domains in a women’s ecosystem.
Work-Life or Life-Work Merge
COVID-19 brought a continued emergence of the work-life merge. Work-life merge is
the ability of employees and organizations to quickly adapt and manage through change, due to
unforeseen changes to external environmental factors such as COVID-19 (Sharkey & Caska,
2019). when a work-life merge occurs, employees feel optimistic about allocated time spent at
work and nonwork-related responsibilities, reduce levels of stress and exhaustion and experience
a reasonable work structure Sharkey & Caska, 2019). Individuals also feel a sense of
organizational support and peer support, while organizations benefit by decreasing employee
turnover and showing increasing levels of employee satisfaction and performance outcomes
(Sharkey & Caska,2019). Conversely, when work-life balance is absent or imbalanced the causal
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effect results in many work-life balance challenges for women employed in the financial services
industry during COVID-19.
Challenges for Women During COVID-19
Women employed in the financial services industry experienced many challenges that
created work-life balance conflict during COVID-19. Work-life balance challenges for women
during COVID-19 include legislative issues, psychological safety and wellbeing, additional
child, elder and family care responsibilities, school and daycare closures, and working from
home.
Legislative Issues
To date, no federal or state employment law mandates companies to provide employees
with work-life balance; however, legislation protects individuals taking time off for caregiving
duties. The Family Medical Leave Act (FMLA) of 1993 covers employees meeting specific
eligibility criteria in taking up to 12 weeks of unpaid job-protected leave per year. A loophole in
the FMLA provisions precluded COVID-19 as a covered event for individuals who fell ill or
needed to take a family leave to care for family (i.e., immediate or extended family members)
due to the pandemic outbreak (Equal Employment Opportunity Commission [EEOC], 2020).
In 2020, the U.S. Congress passed a temporary emergency order for the Families First
Coronavirus Response Act (FFCRA). The FFCRA requires certain employers (i.e., private
employers with a minimum of 50 employees, all local, state, and federal government agencies,
and public and private elementary and secondary schools) to provide employees paid benefits
due to COVID-19-related illness. The FFCRA benefits include up to 2 weeks of paid medical
leave and an additional 10-week extension of paid expanded family medical leave. Employees
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must prove they could not work or telework due to the care for a child whose school, place of
care, or childcare provider was closed or unavailable because of COVID-19.
The FFCRA emergency order sunset on December 31, 2020, and the U.S. Congress left
nongovernment businesses to decide how to manage paid leave requests due to COVID-19 by
offering a short-term tax credit incentive when providing COVID-19-related paid leave between
April 1, 2021, and September 30, 2021 (FFCRA, 2021). Throughout COVID-19, lawmakers
were slow to implement permanent change and only implemented quick fixes and temporary
solutions to existing legislation and policies, such as medical leave, unemployment, child tax
credits, and deferred student loans (Blundell & Costa Dias, 2020). The sunset of FFCRA further
disrupted women’s work-life balance, leaving women with few options to early retirement,
resignation, or reduced working hours to accommodate and manage child, elder, or family care
responsibilities at home during COVID-19.
Psychological Safety During COVID-19
Psychological safety is present when employees have access to human capital, such as
mentors, access to knowledge for career development, and on-the-job training (Noback et al.,
2016). Employees working in a safe and respectful workplace can address opinions freely, speak
their minds on work-related matters, and thrive at work (Edmundson & Mortensen, 2021;
Noback et al.,2016; O’Neil & Brooks, 2018). Psychological safety also occurs when leaders
provide emotional support and empathy to women in the workplace. According to the Pew
Research Institute (2018), 48% of women in executive leadership positions, compared to 37% of
men, in the same roles, are better at creating a safe and respectful workplace (Parker, 2018).
Conversely, when psychological safety is absent in the workplace, women feel unsafe.
Ultimately the fear of being judged by coworkers or leadership leads to negative self-image and
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decreased levels of emotional well-being, such as burnout, stress, anxiety, or exhaustion (Como,
2021; Das & Khushwah, 2015; Lee, 2021; Obrenovic et al., 2020; Prasad et al., 2020).
Psychological safety is dynamic and penetrates all environmental and organizational
variables that an individual experiences, such as changing from working in a traditional office
environment to working from home (Lee, 2021). For instance, studies conducted during COVID-
19 show among all ages employed full-time in the financial services industry, the impact of a
woman’s psychological safety varies based on one’s intrinsic needs, values, and beliefs (Lee,
2021). Throughout COVID-19, 29% of women said psychological safety impacted their career
progression at work (Deloitte, 2021). Studies show disruptive changes, such as reporting to the
office versus the shift to a work-from-home environment, led to high levels of anxiety and
uncertainty, created by unpredictable child or eldercare disruptions during working hours (Lee,
2021). Throughout COVID-19, one in four women experienced emotional factors, such as
anxiety, stress, unfairness, feelings of inferiority, and vulnerability, which play a significant role
in psychological safety (Bubb & Joanna, 2020). The result of diminishing psychological safety
includes lack of purpose, feelings of isolation and loneliness, and a toll on emotional health
(Carli, 2020; Carnevale & Hatak, 2020; Dunton & Anderson, n.d.; Kaushik & Guleria, 2020).
Throughout COVID-19, feelings of psychological safety women experienced altered how
women thrive at work and become worse when they work from home (Bubb & Joanna, 2020;
Carnevale & Hatak, 2020; Lee, 2021). For example, women reported they felt an increase in
micromanagement tactics by their direct supervisor, such as once a day or more virtual check-ins
or the application of software tools to monitor performance activity that never occurred before
the pandemic (Lee, 2021). In contrast, women experienced high levels of perceived job stability,
a safe home environment, and shared goals and values that increase an individual’s
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psychological safety and well-being when the organization’s culture and leadership team provide
ample support (Lee, 2021).
Well-Being During COVID-19
Well-being is a state related to all aspects of working life, including the impact on a
person’s emotional state, such as anxiety, stress, burnout, or exhaustion (Segel, 2021). Well-
being also factors in an individual’s physical state, stemming from emotional distress, and
includes chronic illnesses, such as migraines, influencing how an employee feels about their
work and working environment (Segel, 2021). When organizational leaders at work support
employees’ well-being, individuals feel happier and less stressed, and companies experience a
decrease in employee turnover and an increase in morale (Ellingrud et al., 2021). Evidence
continues to emerge on women’s well-being and long-term health implications (Graham et al.,
2021).
Before the pandemic, 68% of women rated overall well-being as better than good,
compared to 38% of women giving that same rating during the pandemic (Deloitte, 2021).
During the pandemic, over 82% of women felt their lives were impacted and that they were
exposed to greater risk than men were, with issues related to burnout, stress, anxiety associated
with reduced income, and perceptions of being overlooked for career advancement (Carli, 2020;
Carnevale & Hatak, 2020; Dunton & Anderson, n.d.; Kaushik & Guleria, 2020).
Studies reported women’s emotional and physical well-being became compromised
during COVID-19 (Meenakshi et al., 2013). Until the onset of COVID-19, stress levels related to
balancing work and family remained unchanged since the 1970s, as women increased their
presence in the workforce. Men reported being stressed 25% of the time, compared to women
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experiencing the same stress-related factors (e.g., children, household) reporting being stressed
45% of the time (Meenakshi et al., 2013).
Throughout COVID-19, the lack of work-life balance when working from home
increased women’s stress and heightened levels of emotional exhaustion (Graham et al., 2021).
Women with children experienced feeling rushed or constantly running out of time to tend to
work or family tasks (Graham et al., 2021). Research shows a significant gap between men and
women living in the same household felt a substantial shift in responsibilities and stress related
to household tasks and childcare (Craig & Churchill, 2021). Before COVID-19, fathers’ stress
levels were higher by 23% compared to mothers by 11% due to signs of feeling rushed, such as
balancing getting ready for school and arriving to work on time (Craig & Churchill, 2021).
During COVID-19, the percentage of stress levels was reversed, increasing mothers’ feelings of
being rushed to 51% compared to fathers’ stress levels reduced to 12% (Craig & Churchill,
2021). Twenty-five percent of women across all age groups and job levels reported to female
managers in the financial services industry reported receiving emotional support for wellbeing
issues and guidance while working through work-life balance challenges experienced during
COVID-19 (Ellingrud et al., 2021).
During the pandemic, women working from home reported experiencing harassment (i.e.,
disparaging remarks), judgment questions, and non-inclusive behaviors and decision-making
(Deloitte, 2021). Twenty-nine percent of women said the number one reason for not reporting
harassment, microaggressions, or lack of inclusion was the fear of retribution associated with
career progression and advancement at work (Deloitte, 2021).
Feelings of diminishing well-being and a decreased sense of psychological safety also
occurred for women working from home, as work-life balance boundaries blurred for many
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women and their employers during COVID-19 (Edmunson, 2018; Edmunson & Mortenson,
2021). Work-life conflict occurs when employers make decisions, such as managing employee
workloads, schedules, and performance. At the same time, employees’ nonwork responsibilities
reach capacity with child or elder care responsibilities during the workday (Edmunsen &
Mortenson, 2021). Studies show employees who disclosed their families demands during
COVID-19 with their managers had feelings of potential job loss, judgment, and exposure to the
person’s identity, values, and choices, which otherwise would not be shared with the employer’s
prepandemic years (Edmunson, 2018; Edmunson & Mortenson, 2021).
Research shows well-being is negatively affected when individuals working from home
are not suited to work in remote environments, which leads to feelings of social isolation,
burnout, stress, and emotional exhaustion (Ranjitha et al., 2021). Emotional well-being is
compromised when employees cannot connect with coworkers, effectively adapt to work from
home environments, and are challenged with work-life balance demands, especially when the
division of chores is lopsided (Ranjitha et al., 2021).
Organizational and Social Support for Women in Financial Services During COVID-19
In the framework of an organization’s culture, women employed in the financial services
industry feel leadership does not consider or support commitments of equal or higher importance
that may occur outside of working hours (Chung et al., 2021). Organizational support occurs in a
workplace when an employee, either in a management or leadership role or a peer-to-peer
coworker role, takes an active interest or cares for an employee’s psychological safety and
wellbeing and values an employee’s contributions at work (Lee, 2021). Research shows 59% of
women employed in the financial services industry, compared to 47% of women employed in
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other industries, received support (e.g., emotional or navigating through work-life challenges)
from their employers throughout COVID-19 (Ellingrud et al., 2021).
Studies show 82% when women in financial services reported to women managers and
received organizational support, such as flexible hours, PTO, or extra holiday pay, and
reasonable workloads to manage work-life demands and felt a sense of belonging when attending
virtual team bonding events (Ellingrud et al., 2021). Fifty percent of women experienced
emotional support, and 25% received work-life balance support from women managers
(Ellingrud et al., 2021). During COVID-19, 42% of women employed in financial services and
28% of women working in other industries received additional holidays, PTO, and ease of
transition in establishing work from home offices during COVID-19 (Ellingrud et al., 2021).
Social support is relationships and connections established in the workplace between
employee and employer or employee and employee and outside of work connecting individuals
to peers, family, and friends (Woodbridge et al., 2021). These relationships empower and
encourage women to seek help at work and at home. Research shows robust and meaningful
social support and interactions with others decreases the likelihood and the degree in which
women feel stressed and conflict, when multitasking work-life demands such as work, life, and
family commitments (Woodbridge et al., 2021). In contrast, the absence of social support and
connection has the opposite outcome (Woodbridge et al., 2021).
Child, Elder, and Family Care During COVID-19
In 2019, the U.S. BLS noted of the 130 million households registered, 15 million were
run by single working mothers, far outnumbering single, working father households by over 11%
(Alon et al., 2020). Seventy-five percent of unpaid caregiving at home falls on the shoulders of
women (Power, 2020). On average, women spend 5 hours of caregiving, compared to 90 minutes
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of the same caregiving duties performed by men (Power, 2020). Family and household
responsibilities were managed by women more than they were by men before the pandemic,
regardless of dual or single-parent households with children; however, the burden of child and
elder care responsibilities increased during the pandemic, creating a work-life and life-work
imbalance for women (Alon et al., 2020; Carli, 2020; Connley, 2020; S. Miller, 2021; Power,
2020).
Between March and July 2020, almost 70% of the workforce left to become full-time
caregivers to their children (Croda & Gossbard, 2021). Thirty three percent of single mothers left
at triple the rates compared to single fathers when external resources, such as daycare, schools,
and childcare services, closed due to the pandemic (S. Miller, 2021). Beyond 2020 and well into
the early months of 2021, these external resources, once open, were still closed (Barosa &
Brown, 2021; Croda & Gossbard, 2021). The number of single mothers compared to single
fathers quadrupled by 42%, forcing single mothers to reduce their hours at work to continue
managing homeschooling activities for school-aged children up to 18 years old (Barosa &
Brown, 2021; Croda & Gossbard, 2021).
Between March and April 2020, when mandated stay-at-home orders were in force, the
gap in a 40-hour workweek at home in a dual-parent household with children ages 1-17 years old
decreased for women from 38 working hours in March to 34 working hours in April (Collins et
al., 2021). Married women provided almost 60% of childcare and family responsibilities. In
contrast, single mothers absorbed 100% of these same duties because of the lack of external
resources, such as spouses or family members to help with caregiving responsibilities, unlike
single men, who often rely on other family members to help with school and childcare duties
(Alon et al., 2020; Carli, 2020).
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School and Childcare Facility Closures During COVID-19
School and childcare facility closures were the Number 1 factor contributing to women’s
work-life imbalances, when families chose to have their children under 17 years old stay at home
even when local and state government officials removed the stay-at-home restrictions (S. Miller,
2021). When school returned in the late fall of 2020, the time allocated to those duties doubled,
especially during working hours, when school was in session or younger children would have
been in daycare (Alon et al., 2020; Carli, 2020; S. Miller, 2021). Though both parents in dual-
parent households were under the same stay-at-home orders and worked from home, the burden
of childcare responsibilities and family demands were absorbed by women, while men’s working
hours did not change, for the most part (Carli, 2020; Collins et al., 2021).
Throughout the pandemic, women spent, on average, nearly 3 additional hours on
responsibilities at home, including chores, childcare, and overseeing home schooling activities
(Woodbridge et al., 2021). Data indicate 62% of women experienced over 40 hours of additional
caregiving per week during COVID-19, compared to 12.5 hours per week before the pandemic,
for households with children under 18 years old living at home (Woodbridge et al., 2021). Also,
nearly 63% of women managing eldercare responsibilities experienced a range of 10 to 26
additional hours of care during the pandemic, compared to the national average of 24 hours,
before COVID-19 (Woodbridge et al., 2021).
During the pandemic, the increase of caregiving responsibilities at home significantly
impacted women’s careers and further perpetuated women missing career advancement
opportunities (Connley, 2020). One in five women reported being omitted for promotions or
essential assignments, while 27% experienced negativity by their manager, such as perceptions
of not being committed to their work (Barossa & Brown, 2021). The lack of hours worked due to
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layoffs, furloughs, or resignations have contributed to other factors, such as financial insecurities
(i.e., lack of income or pension contributions), psychological safety, such as job security, and the
uncertainty of reentering the workforce, anxiety, and depression (Powers, 2020).
Simultaneously managing the household and work responsibilities became nearly
impossible due to external factors outside the work-from-home environment, such as school or
childcare closures (Barrosa & Brown, 2021). Studies show compared to men in duo-parent
households, women had a disproportionate allocation of family obligations, such as housework
and child or eldercare Connley, 2020). Single mothers experienced the highest burden of family
obligations during the pandemic (Alon et al., 2020; Connley, 2020). Family care responsibilities,
while employed, are not novel for women. Changes to family care during the pandemic created
limited resources available to women, such as external childcare, schools, or other family
members (Feng & Savavi, 2020). The role of mother, spouse, and caregiver suddenly had a
negative impact during COVID-19 on how women felt about their role at work, psychological
safety, and well-being (Abdulla et al., 2021; Feng & Savavi, 2020; Li, Ghosh et al., 2020; Li,
Rajahi et al., 2020). Further, the newly acquired roles of educator and daycare attendant added
new challenges.
Working From Home Environment During COVID-19
Working from home for women employed in the workforce is not new. While working
from has been incorporated into many business practices since the early 1970s, as an alternative
option for employees, the motivation for organizations to make temporary or permanent shifts
from an office environment to home contributes to mitigation efforts to reduce the spread of
Covid-19 (Abdullah et al., 2020; Kaushik, & Guleria, 2020). Before COVID-19, work-from-
home arrangements included agreed-upon terms between employee and employer depending on
32
employment status (e.g., independent contractor). They worked on assignments or roles, such as
outside sales (Graham et al., 2021).
When organizations temporarily shifted to a work-from-home environment, many
organizations and employees did not imagine the shift in working environments would remain
permanent, forcing decisions on whether keeping up with home demands, alongside work, would
be doable for women (Graham et al., 2021). Work from home environments is not a one-size-
fits-all measurement for employees given no choice but to work from home during the pandemic
(Ranjitha et al., 2021). Despite some organizations with robust disaster recovery plans for
emergencies, companies did not expect nor have insight into the lasting effects of the pandemic
and did not plan to accommodate employees for the duration of working in a home office
(Ranjitha et al., 2021). Organizations lack guidelines on ensuring a work-from-home
environment is a safe or uninterrupted environment for the employee and provide the same
access to equipment or supplies received in an office environment that will be needed to
adequately perform job duties at home (Ellison, 2012).
The number of people working from home increased from 96,200,000 million in 2005 to
105,400,000 million at the end of 2020 (Li, Ghosh et al., 2020; Li, Rajahsi et al., 2020). Research
showed that by the end of April 2020, 44% of women and 30% of men worked from home,
peaking at over 70% during emergencies impacting the household (Croda & Gossbard, 2020).
Work from home domains may divide rather than support gender role equality for women,
perpetuate gender role stereotype bias at work, and affect women’s work-life balance (Chung &
Van der Lippe, 2020).
During the pandemic, many environmental factors resulted in positive outcomes for
women working from home. One positive experience women encountered was the ability to shift
33
time spent commuting to the office and use additional access to maintain their home and family
obligations (Abdullah et al., 2020; Coban, 2021; Kaushik & Guleria, 2020). Another positive
outcome is associated with productivity. Studies show women increased their overall work
productivity, on average by up to 13%, for those who had no at-home caregiving responsibilities
or extended the workday (i.e., starting earlier or working later) to accommodate family or
childcare obligations (Abdullah et al., 2020; Kaushik & Guleria, 2020). Also, women
experienced the upside of fewer coworker distractions when working from home and learning
time management skills to avoid nonworkplace disruptions during working hours at home
(Abdullah et al., 2020). Another study showed work from home has provided the flexibility
women need during the pandemic, such as alternating between family and work schedules
(Uddin, 2021). Research showed 63% of women and 49% of men prefer working from home
(Coban, 2021). Women reported working from home as a solution to help manage work-life
conflict, when tasked with responsibilities outside of work, such as a child or family care, and
outside interests, such as hobbies (Coban, 2021).
Research has shown negative experiences women have encountered when working from
home (Carnevale & Hatak, 2020; Woodbridge et al.,2021). The flexibility and convenience of
working from home, with the absence and inability to access alternate office workspace options,
such as cafes, libraries, or shared space, has led to negative feelings of isolation, lack of trust, job
insecurity, social isolation, and occupational stress (Abdullah et al., 2020; Carnevale & Hatak,
2020; Kaushik & Guleria, 2020; Muralidhar et al., 2020; Woodbridge et al., 2021). Women also
needed to adopt new skills, such as using technology, to connect, collaborate, and communicate
with their peers in virtual work settings (Abdullah et al., 2020; Kaushik & Guleria, 2020). Habits
of staying connected all the time to the office, using technology in the work-from-home
34
environment, contributed to the feelings of burnout, stress, and mental exhaustion (Abdullah et
al., 2020; Kaushik & Guleria, 2020). Over time, the negative impacts of emotional and physical
distress for employees had employers began to second guess an individual’s commitment to
work, including questioning the number of hours worked each week and scrutinizing job
performance (Contreras et al., 2020; Marx et al., 2021). Other research found working from
home is associated with work-family conflict due to the absence of uninterrupted time for work
and family (Uddin, 2021). Studies show women in caretaking roles such as motherhood have
trouble and are stigmatized in the workplace when seeking flexible hours, even under the
arrangement of a work-from-home environment (Abdullah et al., 2020). Women reported
working from home magnified work-life conflict and lengthened waking hours for a women’s
day, as they might have to work during off-hours to make up for time lost in the business day
(Coban, 2021). Work-from-home environments impact women’s emotional well-being when
they cannot connect with coworkers, effectively adapt, and are challenged with work-life balance
demands, especially when the division of household chores is lopsided (Coban, 2021).
Conceptual Framework
Bronfenbrenner’s (1979) ecological systems theory posited how the development of an
individual is affected by multifaceted relationships (i.e., family, education, employment, health,
laws, culture, beliefs) embedded in five concentric layers of environmental systems of the
individual’s ecosystem (Bronfenbrenner, 1979, 1992). Bronfenbrenner’s ecological model posits
five layers embedded in the ecosystem that change over time. These concentric layers include the
individual, microsystem, mesosystem, exosystem, and macrosystem, as shown in Figure 1. The
embedded systems and environmental factors residing in each layer of the ecosystem will further
35
guide the researcher to help understand the individual’s positionality of perspectives and lived
experiences in their ecosystem.
Although the original application of Bronfenbrenner’s (1979, 1992) ecological systems
theory and model was used to help understand child development, the application in this study
allows for a broader understanding of how each ecosystem’s layer surrounding the individual
(i.e., women) is interrelated and dynamically dependent on influencing rooted environmental
factors in each layer that change over time in the research study as shown in Figure 2.
Figure 1
Bronfenbrenner’s Ecological Systems Theory’s Model
36
Figure 2
Application of Bronfenbrenner’s (1979) Ecological Model on Women’s Lived Experiences on
Work-Life Balance During COVID-19.
The ecological model provides a systematic way to examine the multilayered internal and
external interconnections and relationships in the ecosystems that fluctuate dynamically and
affect the employee (Borland et al., 2014; Salazar, 2000). The ecological model examines the
problem through a theory of change (TOC) to understand the concentric layers of multiple
internal and external environmental complexities such as oneself and the relationships between
family, work, community, cultural and societal systems (i.e., gender role) structural systems (i.e.,
workplace stereotype bias), and institutional systems (i.e., legislative policies and enforcement)
for women employed in work from home arrangement during COVID-19.
37
Residing in the center of the ecosystem is the individual. The center of the ecosystem
helps a researcher understand who the person is and how each person identifies. For example,
social class identity addresses how a person names gender (e.g., women), age (e.g., generational
cohort to name the birth year), and race and ethnicity (e.g., White or women of color). Another
example residing in the center of the ecosystem is the intersectionality when there are multiple
social class identities. Social class and intersectionality identities, include gender, nationality,
race, ethnicity, and age, of the individual. In the center, an individual forms ontological
worldview, as their beliefs, values, and attitudes are formed and influenced by social class
identities and external environmental factors found in subsequent layers of the ecosystem, which
affect an individual’s perspectives or lived experiences over time.
The microsystem is closest to the individual’s center. Individuals experience
environmental factors in this layer, such as patterns of activities, roles, and interpersonal
relations (Bronfenbrenner, 1979). These factors include children, spouse, family, home, school,
child or elder care, and community. It is in the immediate settings, such as home and community,
where individuals interact face to face (Bronfenbrenner, 1979). Also, Bronfenbrenner addressed
an essential facet of the microsystem. Factors inside this layer include individuals’ lived
experiences and how individuals frame meaning in any given situation and shape their beliefs,
perspectives, and feelings, making the experience of the individual salient (e.g., work-life
balance challenges when working from home).
The mesosystem connects other concentric layers in the ecosystem. The dynamic
direction of this layer allows for movement to ebb and flow between two or more environmental
external factors embedded in each ecosystem (Bronfenbrenner, 1979).
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The relational connection between factors and other ecosystem layers, not a specific place or
setting, characterizes the mesosystem’s role throughout the ecosystem (Bronfenbrenner, 1979).
For example, when examining the individual, this layer frames the positionality of each woman
based on other factors, such as social class identity, gender role, intersectionality, and age in a
generational cohort). Another example is the dynamic relational connection that changes over
time between the individual (e.g., women and age) and the microsystem (i.e., children living at
home and attending school or childcare programs). Throughout the study, relationships between
ecosystems that change over time helped the researcher uncover COVID-19’s impact on
workplace disruptions for women seeking career advancement in the financial services industry.
The exosystem is further away from the individual, and this study examined the
exosystem’s environmental factors (e.g., COVID-19, legislation and regulatory laws, employer,
work from home, psychological safety, and wellbeing). The events in this system immediately or
eventually affect the individual because of what takes place in particular settings or situations
(Bronfenbrenner, 1979). The exosystem is bi-directional and moves back and forth. The
exosystem helps a researcher understand the short and long-term effects women encounter from
COVID-19’s impact on workplace disruptions, such as work from home environments, access to
a child or eldercare facility, work-life balance, and the organizational changes affecting
psychological safety and well-being. Another example is events such as COVID-19, which can
indirectly affect environmental factors in an individual’s microsystem, such as children, home,
and spouse. The bi-directional nature of this layer also provides an understanding of how other
factors such as school or childcare facilities closures can affect the exosystem such as
employment (i.e., resignation or reducing work hours) of women.
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The macrosystem is the outermost layer of the ecosystem and is broad. It begins to frame
cultural norms of any given environment, such as structural (e.g., financial services companies)
or institutional (e.g., legislative policies or government entities) systems, influenced by social
and historical constructs and shaped by one’s beliefs, values, and attitudes (e.g., men seeking
career advancement versus women seeking career advancement) at a given point of time
(Bronfenbrenner, 1979). The macrosystem is unique to each individual in the center of the
ecosystem, although there can be shared experiences. Dynamic changes in belief systems or
ideology in the macrosystem fundamentally influence behaviors and attitudes, access to human
capital, and diversity, inclusion, and equity throughout the other environmental factors identified
throughout the different layers in the ecosystem.
The chronosystem represents change over time. Sociohistorical moments allow
researchers to reflect on how an environmental event, such as COVID-19, directly or indirectly
impacts other ecological factors, such as mandates for social distancing (e.g., working from
home versus working in an office environment) individuals experience throughout one’s lifetime
(Bronfenbrenner, 1992).
Changes over time occur in all concentric layers (micro, meso, exo, macro) of the
ecosystem. For example, COVID-19 perpetuated an assumption that women, more so than men,
would stay home to manage family responsibilities when schools or childcare facilities closed.
COVID-19 played a role in further widening the wage gap for women. Another example is the
impact COVID-19 had on the psychological safety and well-being of the ability to connect with
peers for mentoring and development for career advancement opportunities in the financial
services industry when absent from the workforce due to early retirement or resignations because
of the lack of childcare resources.
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Chapter Three: Methodology
The methodology of this study was guided by the conceptual frameworks of
Bronfenbrenner’s ecological model, connections to the literature, the research questions, and the
problem statement. The methodology of the study allows the researcher to understand and
explore the key concepts emerging from the literature and learn about the participants’ views.
Chapter 3 includes the research design method, positionality of the researcher, a description of
the participants, sampling criteria, research setting, interview protocol, data collection
procedures, data analysis, validity and reliability of qualitative methods, ethical statement, and
limitations and delimitations of the qualitative research study.
Research Questions
1. What are the perceptions of women in the financial services industry regarding their
work-life balance during COVID-19?
2. What are the perceptions of women in the financial services industry regarding the
individual factors that influence work-life balance during COVID-19?
3. What are the perceptions of women in the financial services industry regarding the
environmental factors that influence work-life balance during COVID-19?
Overview of Design
The research design was qualitative. Qualitative research methods allow researchers to
understand how people interpret experiences from the perspectives of their worldviews through
observation of individuals in the environment or collecting data through interviews or
documented artifacts (Merriam & Tisdale, 2016). This study used semi-structured interviews to
address the research questions and examine women’s lived experiences in the financial services
industry.
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Research Setting
Participants in the research study represented the broad population of women employed
in the financial services industry during the COVID-19 pandemic. At the time of the research
study, many state and local municipalities were enforcing COVID-19 pandemic social distancing
and, in some cases, stay-at-home or work-from-home orders. Due to the health, wellness, and
safety concerns of and for the researcher and participants, virtual meetings were conducted with
the Zoom technology platform, instead of in-person, one-on-one interviews.
The Researcher
Positionality is what an individual realizes about their beliefs and the nature of their
position. An individual’s positionality and worldviews can evolve, as they are influenced by
social or historical constructs, biases, perspectives, or social identities (Jacobson & Mustafa,
2019). Villaverde (2008) defined positionality as “how one is situated through the intersection of
power and the politics of gender, race, class, sexuality, ethnicity, culture, language, and other
social factors” (p. 10).
My positionality stems from the social and historical constructs prevalent and influential
throughout my life. The lens used to shape how I socially identified myself as a White,
cisgender, heterosexual, single mother, Jewish woman, who works in the financial services
industry. I was born into White privilege. My skin color overshadows the intersectionality two of
my social class identities (i.e., gender and religion). Access to finances afforded me years of self-
care to help hide my age. My White privilege allowed me to pay for my postsecondary and
graduate education.
42
I have aligned myself with a business network that introduced employment opportunities
and helped me climb the corporate ladder into many C-suite leadership roles in financial service
companies in the credit, collection, and insurance sectors, during my professional career.
The relationship between myself and other women only goes as far as gender in
identifying as a woman. I have many lived experiences and perspectives as a middle-aged, single
mother White woman employed in the financial services industry, navigating through work-life
balance during COVID-19. My experiences and perspectives are my own and do not mirror other
women’s points of view of other women with differing social class identities (i.e., race, age,
ethnic).
Based on my own experiences related to this study, I must continue to be accountable for
my conscious and unconscious biased behaviors and work toward advancing research of the
problem statement in this study to inclusiveness and equity for women’s lived experiences of
work-life balance during the COVID-19 pandemic. As the primary instrument of data collection,
the researcher’s own biases or opinions should not manipulate or influence the participant’s
responses to the interview questions nor assume any of the participants’ experiences or
perspectives, when disseminating the data collection and research findings. Also, I must be
aware of my biases and assumptions from my worldview and note my interpretations of findings
when analyzing the data collection (Creswell & Creswell, 2018).
Data Sources
Several data sources are used in the qualitative research study and conducting interviews.
Data sources include selection process of participants, participant criteria, and instruments used
to collect and analyze data. Findings in the research study is supported by the validity and
reliability of data sources used as well as ethical guidelines established by the IRB.
43
Interviews
Semi-structured interviews were used in this study.
Participants
Purposeful sampling was used to recruit 20 participants. Purposeful samples reflect the
average person, situation, or instance, highlighting typical participants (Merriam & Tisdale,
2016). The researcher used financial services industry networking and trade associations to
recruit participants for this study. Three criteria were used to select participants: (a)
demographics, (b) industry and length of employment, and (c) social identities.
Criterion 1: Participant Demographics
Participants in this study resided and were employed in the United States and had worked
in an office before COVID-19’s pandemic. In addition, they worked in a work-from-home
environment during pandemic stay-at-home enforcement actions, imposed on local and state
officials between March 2020 through December 2021.
Criterion 2: Industry and Length of Employment
Participants in this study worked in the financial services industry (e.g., private or public
banking, insurance, mortgage lending, wealth management, credit, and collections sectors) and
were employed for a minimum of 3 years before the COVID-19 pandemic. Also, each participant
was employed full-time (i.e., 32-40 hours per week) or had experienced a change in employment
status (i.e., resigned, laid off, furloughed, or reduced working hours) during COVID-19 between
March 2020 through December 2021.
Criterion 3: Participants Social Identity
Participants in this study identified as women (binary or nonbinary); single, married, or
divorced; with or without children between the ages of 0 to 18 years or eldercare (e.g., parents or
44
grandparents) in the home; and having a race or ethnicity of White, Black, Asian, or Hispanic
and ranged between the ages of 22 and 72 years old.
Instrumentation
A semi-structured interview protocol was used for the interviews in this study. Twenty-
one open-ended interview questions guided and were used to gather data about the participants’
perspectives, experiences, and worldview beliefs (Merriam & Tisdale, 2016). Open-ended
interview questions can be used to be sensitive to the underlying meaning behind a participant’s
paradigm of beliefs, when gaining a sense of in-depth knowledge and understanding of the
problem (Merriam & Tisdale, 2016). The open-ended interview questions connect to the
conceptual framework used for this study and to answer the three research questions.
Data Collection Procedures
Instruments used to collect data during the interview were the researcher and Zoom
technology. The primary instrument was the researcher, using a series of interview questions to
inform the research questions that guided the study (Meriam & Tisdale, 2016). Next, researcher
created field notes, as a tool for reflection on the perspectives and experiences shared by the
participants and to recall any critical observations made during the interview, such as body
language, tone, or inflection of voice of the participant (Creswell & Creswell, 2018).
Zoom audio, camera, and transcription device features were used for virtual, one-on-one
interviews with each participant. Because the study occurred during COVID-19, social
distancing and stay-at-home enforcement prevented in-person interviews. The Zoom platform
allowed the researcher to accurately document the participant responses and attest to the data
collection’s credibility, trustworthiness, and dependability (Merriam & Tisdale).
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Participants received an invitation to a Zoom Meeting with the agreed-upon time and
date. Interviews are scheduled for 45–60 minutes in length, using a set of 21 semi-structured
open-ended questions as referenced in Appendix A. At the start of the interview, the researcher
will request permission to use Zoom technology audio, camera, and transcription features to
record the interview. The researcher used field notes during the interviews. When permitted,
field notes and recordings enable the researcher to validate information (Merriam & Tisdale,
2016). Furthermore, using the camera and audio feature, Zoom technology lets the researcher
simultaneously take notes and observe participants’ nonverbal cues such as body language when
sharing responses to each question.
Data Analysis
The researcher analyzed the data from resources used throughout the interview process to
gather meaning from the data collected during the qualitative interviews. The researcher applied
member-checking techniques during the interview, engaging with participants to attest to the
accuracy of what was said, clarify responses, and ask probing follow-up questions to ascertain
the meaning of terminology or phrases used in their responses (Merriam & Tisdale, 2016).
After each interview, the researcher reviewed the Zoom recordings and transcripts to
ensure they were complete and audible. Atlas.ti (Version 2022) web-based platform and
Microsoft Office Excel (Version 2018) spreadsheets were used to code interview transcripts.
Afterward, the researcher created a codebook to organize open-ended and axial coding to help
identify themes related to the three research questions by categorizing emerging themes in
groups, corresponding to the literature and the conceptual framework. The coding mechanic
allowed the researcher to review data and determine what the participant said and how to best
structure the findings (Gibbs, 2018; Saldana, 2021). The codebook served as a functional
46
structure to organize collected data and extract key phrases and direct quotes associated with a
code matrix hierarchy to document critical findings in Chapter 4.
Validity and Reliability
Two strategies maximize the study’s credibility, trustworthiness, and dependability
(Merriam & Tisdale, 2016): (a) member checking and (b) comparisons of the data to the
literature. Member checks validate what the participant says and allow the researcher to solicit
feedback during or after the interview (Merriam & Tisdale, 2016). For example, at the end of the
interview, the researcher can share the study’s next steps and ask the participant, “What
questions do you have for me?” solicit. In addition, member checking allows the researcher to
verify the information stated by the participant to confirm and acknowledge the accuracy of the
narrative is correctly documented (Merriam & Tisdale, 2016).
Measures to compare the participant’s experiences and perspectives to articles and
literature relevant to the research questions to increase the credibility of the study’s findings to
connect the worldviews of each participant (Merriam & Tisdale, 2016). Adequate time in
collecting data when seeking to understand the participant’s worldview will allow the researcher
to find supporting evidence of the data collection, contrary explanations of the data collection
findings, or find patterns and conclusions that fit the data collected (Merriam & Tisdale, 2016).
Ethics
Before conducting this study, the researcher submitted the research plans to the
Institutional Review Board (IRB) for approval. Individuals agreeing to participate in this study
received an information sheet that included (a) the identification of the researcher, (b) the
sponsoring institution, (c) the purpose of the study, (d) benefits, (d) level and type of
involvement, (e) known risks to the participant, (f) withdrawal assurance, (g) guaranteed
47
confidentiality, and (h) name of a person to contact for any questions. Because of the use of
Zoom technology, there was additional information on how the participant would receive the
informed consent documents and an explanation defining the public domain and the researcher’s
access to general information without seeking consent (Merriam & Tisdale, 2016).
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Chapter Four: Findings
This study was conducted with the aim to learn about women’s experiences related to
work-life balance during the COVID-19 pandemic and to offer recommendations to the financial
services industry. The Bronfenbrenner (1979) ecological model served as the theoretical
framework to guide this study, which focused on women’s individual and external environmental
factors affecting work-life balance challenges for women and support women need to support
work-life balance at home and work. The study was conducted to understand how women felt
empowered, when navigating work-life challenges during the pandemic and to offer
recommendations for the financial services industry. Chapter 4 provides an overview of
participants, followed by findings and influences related to this study.
Participants
Twenty women participated in this research study. The participants were between 22 and
72 years old; single, married, divorced, or widowed; with or without child or elder family living
at home; and resided in the United States. The participants either worked full-time (e.g., 32-40
hours per week) or experienced a change in employment status (i.e., resigned, laid off,
furloughed, or reduced working hours) between March 2020 through December 2021). The
participants were employed for a minimum of 3 years in the financial services industry (i.e.,
private or public banking, insurance, mortgage lending, wealth management, credit, and
collections sectors) before the COVID-19 pandemic. Table 1 provides a demographic overview
of the participants.
Findings: Research Question One
Findings in this section answer the first research question: What are the perceptions of
women in the financial services industry regarding their work-life balance during COVID-19?
49
Table 1
Overview of Participants
Pseudonym Age Personal Profile Industry Role
VNA 29 Married, no children. Caregiver to
grandparent living outside of home.
Changed jobs in the financial services
industry during pandemic
Banking Customer
service
CRI 37 Married. Caregiver to two daycare aged
children living at home
Insurance Strategy
analyst
SGP 40 Married. Caregiver to two school age
children living at home. Changed jobs in
the financial services industry during
pandemic.
Credit VP credit
relations
MKV 41 Married. Caregiver to one school age
children living at home part time.
Insurance Business
owner
SRT 42 Married. Caregiver to two school age
children living at home. Caregiver to
family outside of home (aging parent and
two adult children and four
grandchildren. Laid off during pandemic
and transitioned into self-employment.
Insurance Business
owner
NFI 43 Single parent. Caregiver to one school age
child and elder parent living at home
Insurance Trainer
TDW 47 Married. Caregiver to two school age
children living at home. Resigned at
onset of pandemic and 1 year later found
new employment in financial services
industry.
Accounts
receivable
Administration
KKF 49 Single. No children or significant other.
Laid off from bank during pandemic.
Found new job in financial services
industry in 9 months.
Banking Sales
JHM 51 Married. Caregiver to two school age
children living at home. Caregiver to
family outside of the home (aging parent
and college aged children).
Collections Meeting
planner
50
Pseudonym Age Personal Profile Industry Role
LSG 52 Married. Spouse and caregiver to one elder
parent living at home. One
child/grandchild living outside of home.
Banking Senior
relationship
Advisor
JLG 53 Divorced. Caregiver to one adult child and
elder parent living at home. One adult
child and significant other living outside
of home.
Banking Financial
counselor
TDT 53 Married. No children living at home. Debt
settlement
Business
owner
BBI 57 Single. No children. Significant other
living at home. Changed jobs in financial
services industry during pandemic.
Insurance Subrogation
officer
DMI 57 Divorced. No children living at home. No
significant other. Caregiver to eldercare
(parents) and two adult children living
outside of home.
Banking Customer
service
SEW 58 Married. Spouse living at home. Caregiver
to family outside of the home (two adult
children and aging parent). Promoted at
company during pandemic
Credit
reporting
Fraud and
identity
Analyst
MLI 60 Widow. No significant other. Laid off
during pandemic. Found new job 6
months later in financial services
industry during pandemic
Caregiver to aging parent living outside of
home
Insurance Customer
relations
LWT 61 Married. No children living at home.
Caregiver to family outside of the home
(two adult children, one grandchild, and
aging parent).
Collections Executive
officer
SFI 61 Widow. No children. No significant other Credit union Manager
TNM 63 Married. Two adult children. Caregiver to
family living outside of home (two
grand-
Credit CEO
51
Pseudonym Age Personal Profile Industry Role
children and aging parent).
KMG 64 Married. Caregiver to Adult children and
eldercare (parent)living outside of home
Receivable
Manageme
nt
Business
Owner
Defining Work-Life Balance
In interviews, women defined their interpretation of work-life balance. Interviewees
identified three main aspects that characterized work-life balance: (a) proportion of time spent on
each work and life responsibility, (b) enjoyment or financial rewards of work, and (c) ability to
be entirely present for both work and life when engaged. Some women I interviewed also
acknowledged they were not sure how to define work-life balance or thought that balance (e.g.,
equal distribution) did not exist.
Proportion of Time
The proportion of time spent on each work and life (e.g., family or self) responsibility
varied based on many factors. First, most participants expressed they did not have a specific
amount of time allocated to either work or life responsibilities but rather had decisions on how to
spend their time, depending on any given day. Interviewees said time spent on work-life
commitments was based on their relationship (e.g., single, married, divorced, widowed) or
family (e.g., spouse or significant other, children, elder care) status. Also, outside interests, such
as hobbies or friends, drove how women focused the amount of time between work and life
obligations. All participants expressed that regardless of work demands, they prioritized the
proportion of time to life over work commitments. SRT shared how she defined the proportion of
time spent:
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There is no such thing as pure balance. Having a balance between your work and your
life, does not happen. For example, one, when you’re a mother, and two, when you’re in
sales, it’s a matter of how many balls can you juggle at one time without overload and
stressing yourself out to the point of, um, exploding.
TNM felt work-life balance is trying to find that correct percentage of work and
your home life. But I think work and home life are impossible not to have intertwined.
Part of the balance is enjoying what you do as your profession because so much of that
comes home with you. You know, they always say you can’t just turn [work] on and off
[however] I don’t think there are any bones about the fact, my family is first and
foremost, always has been and always will be.
Participants expressed varying degrees of time in terms of either having too much, not
enough, or just the right amount needed for work, life, and interests. Participants who were
single with no children had ample time for both work and nonwork-related interests. Participants
with commitments in caring for others also expressed how they intentionally chose how they
allocated time for various work, life, and nonwork commitments. Interviewees employed in
banking, credit, and credit reporting sectors found an increase of time devoted to work when
their workplace experienced staffing shortages. Conversely, participants who were caregivers to
family (e.g., children, grandchildren, spouses or significant others, and eldercare) could not
control how they spent their time on work or life demands, especially when external factors, such
as school and daycare centers, were closed during the pandemic.
Enjoyment and Rewards
Enjoyment or rewards of work influenced how women defined work-life balance. Many
participants described time at work as either a traditional Monday through Friday job, working 8-
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hour days, and elongating days by starting early, ending late, or carrying unfinished work into
the weekends. Participants expressed enjoyment or rewards at work as working to live, not living
to work, and all women intersected their nonwork interests or commitments as work enjoyment
or reward. KKF shared,
[Working enough] to complete your job, as well as having enough time for your family,
friends, and personal life by working enough to pay the bills, but you need to have
enough time to balance relationships and outside activities, too.
SGP expressed, “Work-life balance is being able to accomplish all the things that I need
to for work while also having an ability to fulfill my duties at home as a wife and mom, as well
as find time for enjoyment.”
Being Present
Participants defined work-life balance as the ability to be present and fully attentive to
either work or family demands. Some participants said work-life balance requires the ability to
focus on what matters most at any given time. MKV said, “[Work-life balance] is putting a 100%
of your work towards your work during your workday and then put a 100% of your [focus] on
home life when you’re at home.” CRI illustrated another example of defining work-life balance
by being present: “Work-life balance is switching between being a full participant at work during
a given portion of my day and swapping and changing to have the same level of commitment to
my family and friends.” NFI shared why being present for her family helped ground her work-
life balance:
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Work-life balance is being able to be at work during the time my child is at school,
But before and after work. I want her to see me, so she doesn’t feel my absence… so that
she can feel my presence, be there when she needs me. Also, being able to enjoy time
with my friends and different activities that I enjoy.
All participants, regardless of family obligations, strongly agreed it is important to be present
(physically and emotionally) and available to their family, friends, and colleagues, when tasked
with work or nonwork responsibilities.
Importance of Work-Life Balance
Interviewees agreed work-life balance is critically important. When asked how important
it was, 19 of 20 women indicated it was either essential, very important, or important now more
than ever. Only one woman indicated it was “not a huge issue” in her life. Participants identified
three factors influential in shaping how important work-life balance is: (a) family and friends, (b)
emotional well-being, and (c) physical well-being.
Family and Friends
Most participants shared the importance of work-life balance is mainly influenced by
their family and friends being their greatest priority. For example, when participants were given
a choice between selecting family and friends versus work as their greatest priority, all women
expressed they would choose family and friends. For example, LSG stated, “Family is more
important than this job.” CRI shared,
[I need to be] able to disconnect, and spend really good, dedicated quality time. My girls
need to know that they have my undivided attention, my husband needs to know that he
has my undivided attention, and I’m not thinking about some work tasks or responding to
an email, um, for all of our [laughs] health and sanity.
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Participants expressed their age influenced how important work-life balance is and when
family and friends became their most significant priority for them. Four of 20 women said that as
they got older, family and friends became a more considerable influence, when managing work-
life balance demands. For example, TDW explained family and friends became a higher priority
and important work-life balance factor and her priorities on spending time with family and
friends has evolved as she got older:
[Work-life balance] is the number one priority for me. I’ll say this, as you get older,
maybe there are some things where you feel that you should slow down a little bit, not
slow down in the sense of don’t work, but you have the wisdom and knowledge to do
things [at work] in a shorter amount of time. It is important not to know. It probably
should have been more important, you know, back when you are single. I was in my zone
of working all the time, and you know, it maybe starts at 7:30 in the morning and stays at
the office till 7:30 or 8:00 at night- that was me just putting myself second to my job.
[Since having a family] freedom in my schedule is the number one thing because I want
to go to their activities and volunteer where I need to with their school and things.
Another example of why participants chose family and friends as a priority when asked
about the importance of work-life balance was determined by where they were in their career
endeavors (e.g., entering or exiting the workforce). LWT said,
When you’re younger, you’re defined a lot by your career. But the closer you get to
retirement [laughs], I think getting older is about doing things with your family and
friends and the experiences. The grandkid is going to remember spending time together.
They’re going to remember that kind of stuff.
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Emotional Well-Being
Another critical factor influencing how important work-life balance was to participants
was their emotional well-being. All participants said their emotional well-being was severely
compromised when work-life demands were not balanced, became too overwhelming, or were
absent. Participants experienced feeling stressed, anxious, depressed, and burned out. One
participant stated the adverse effects on her emotional well-being made her burnout to the extent
she no longer felt joy in her life. SEW gave an example of how her work demands compromised
her work-life balance and impacted her emotional well-being:
I hit burnout. My emotional wellbeing was I was working all the time and, and all work,
work, work, work, and even there were, we did summer hours. I’ll give an example. We
had Fridays off for 8 weeks, but I worked 2 to 4 hours every Friday because I was on a
call with [a client] or a call with some presidential client. And you can’t just show up for
an hour to do the call. There was not enough time for exercise. So, it just impacts you
mentally, you know, the lack of exercise, socialization, you know—your personal life
spills into your professional life.
When a women’s emotional well-being is compromised because their work-life balance
is not centered, it also has some ramifications on their physical well-being
As noted, women varied considerably in age, role, and tenure in the financial services industry,
yet all shared similar sentiments about emotional well-being.
Physical Well-Being
Physical wellbeing was another critical factor influencing the importance of work-life
balance for participants. Ten of 20 participants stated a lack of work-life balance and
compromised emotional well-being took a toll on their physical well-being. For example,
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participants reported when there was no time for self-care (e.g., exercise, eating, sleeping, or
downtime), emotions of stress, anxiety, and depression manifested into weight gain, poor
eyesight, and other debilitating illnesses, such as migraines. Participants also reported their
physical well-being ailments exacerbated existing emotional well-being issues, such as fatigue
and exhaustion. TDT expressed,
The first year of 2020 when COVID hit, I had pretty much ignored my physical
wellbeing. I started back in the gym in March, and then I got COVID. I was out of
commission in August of 2021. That whole COVID thing, oh my goodness. That really
put it in perspective because it put me out of commission for a month, and I am
[otherwise] a very healthy person. And to be that ill, I’ve never been that ill before. Oh,
yeah. It changes and puts things in perspective. It changed my view and enhanced that
[work-life] balance being so much more important even before COVID. I meant feeling it
was more important, but it really got important. It’s like, it doesn’t matter. But again,
that’s when I narrowed my focus on health. Because I was like, okay. Anything else I
wanted to do in my life, going through something like that [sick from COVID-19], it
wouldn’t matter if I’m not healthy.
Participants recognized work-life balance was critically important when emotional and
physical well-being outcomes negatively trigger one another. For example, participants realized
how important work-life balance was when their work demands overshadowed their self-care
time. Many women’s lack of mobility (i.e., sitting for long periods of time) led to physical
ailments, such as back or knee issues, or fluctuating body weight due to missing meals or eating
unhealthy meals. TDW’s experience with weight gain and fatigue was due to long wait times
between meals and a lack of movement from her home office desk:
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There are extended periods when I didn’t eat in a day. And then, you know, you get tired
from that, then you do eat. It isn’t maybe what you could or should eat that’s best for you,
right? And then you got to get back onto the next meeting. So, you know, you’re not
really thinking through what you’re putting into your body. I’d also say that you’re not
getting up and stretching or moving. I tried the standing desk scenario, and it’s good. Um,
but then my feet get really tired (laughs), so I don’t know if I don’t have the right tennis
shoes or something. So, I think, you know, just being able to move. If you sit for a long
time, your body gets stiff. Um, that’s not a good thing either because you don’t want to
be, um, stuff like that and tired.
SRT expressed signs of diminished physical well-being when sitting all day at her home office
and staring at computer screens, which resulted poor eyesight, weight gain, knee issues, and
feeling fatigued. SRT said,
I think my eyes got worse. (laughs) Um, because you constantly stare at a computer for
nine, 10 hours. I did put on some weight because I didn’t go anywhere. Further, several
participants combined physical and emotional well-being because a compromised work-
life balance led to sleep disruption and deprivation.
LSG explained,
By the time I could have a personal life, it’s 10 p.m. So, it’s time for me to relax and go
to bed. But it’s affecting even my sleep, too, because then I’m in bed and say, oh God, I
forgot to send that email. Oh God, my mom has a doctor’s appointment. You know,
trying to remember that and schedule everything and all that sort of stuff.
CRI shared,
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You know it’s getting bad when I start having trouble sleeping, and then I’ll wake up, and
I’ll start running through to-do lists at like two o’clock in the morning of all the tasks I
feel I need to accomplish. (laughs) It forcibly is bleeding into my sleep and my nighttime,
then I have work to do.
Women varied considerably in age, role, and tenure in the financial services industry, yet all
shared similar sentiments about physical well-being.
Work-Life Balance for Women in the Financial Services Industry Before COVID-19
Participants reflected on their work-life balance experiences before COVID-19 to identify
any individual or external environmental factors that were affected by a change to work-life
balance during the pandemic. One aspect that was not present for most participants before the
pandemic was working from home. Another prevalent factor before COVID-19 among all
participants was the commute time to and from an office.
Eighteen out of 20 participants did not have a work-from-home (e.g., remote) or a hybrid
(e.g., working both in an office and home environment) work environment before the pandemic.
Also, before COVID-19, interviewees did not have opportunities to work from home on as-
needed bases, instead of requesting PTO when attending to nonwork obligations (e.g., family or
self-care). SGP stated,
I was transferring children around and making accommodations because I couldn’t get
them on the bus. I had to get rid of them earlier than bus time. I would say, probably an
hour and a half a day, total per day. By the time I would finally make it home, it was like
a mad dash to cook dinner, sweep the floor, and throw my kids in bed without ever
having a minute of enjoyment with them. And if I chose to go to the gym, well, I was
giving up that other, you know, some portion of that very narrow window that I had. And
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once they were in bed, I was back on my laptop to finish the work I didn’t get done
throughout the day.
Eighteen out of 20 participants experienced commute times traveling to and from their
office location, or if traveling for business, extended hours away from their individual or family
needs. Before the pandemic, participants had no choice but to endure long commutes to their
office location due to the distance between home and office and traffic congestion on the roads.
Often, participants would miss family events, such as children’s school activities, forfeit
attending hobbies or interests that interested them, or could not to be present or engage in
activities at home. LSG said,
When I was in the office, I could get my coffee, do my thing, and then start my day. But
then I would leave later to miss the traffic. So, I’d always instead be working [rather]
than sitting in a car, just staring at other vehicles. So, I think it affected my personal life. I
just got out of a car from a 2-hour, you know, commute. I’d come home, like sit down
and tell people, “Leave me alone. Don’t ask about dinner. Let me have like 20 minutes,
30 minutes to kinda, you know, de-stress, relax.”
The change in workplace environments (e.g., from an office to working from home) was
beneficial in that it eliminated the time associated with a daily commute; however, the change
also brought numerous challenges as discussed in the following sections.
Work-Life Balance During the COVID-19 Pandemic
Participants expressed new work-life balance experiences that had positive or negative
impacts on their personal or professional lives, when there was a shift from an office to a work-
from-home environment during the COVID-19 pandemic.
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Positive Work-Life Balance Experiences While Working From Home During COVID-19
Participants identified several positive experiences and benefits when working from
home during COVID-19. Six factors merged from the interviewee’s positive experiences while
working from home: (a) eliminating commute time, (b) increased work productivity, (c) financial
gains, (d) time gained for family and self, (e) elder and family caregiving, and (f) healthier
lifestyle. SGP summed her positive work-life balance experience while working from home:
“Since the pandemic, my work-life balance has been great!”
Eliminating commute time. Participants could eliminate long commute times to
traveling to work or account for additional time to drop off or pick up children from school or
daycare, before and after their work shifts. Many participants reported their roundtrip commute
time ranged between 2 to 4 hours per day, longer during inclement weather conditions. As a
result, participants could repurpose their commute times and spend more time with their families
or on personal interests, such as hobbies or fitness. JHM shared,
By stripping the commute out, I did feel like I was getting more sleep than I had been
before [COVID-19] because I was able to sleep later and start work at the same time.
Then I could start some of the home stuff earlier because I wasn’t driving home [from the
office].
CRI shared,
I was commuting. I was going to the city 2 or 3 days a week, which was an hour and a
half one way, so that’s, like, 4 hours of my day just spent on traveling. So, all of that’s
gone now, so, just more time being able to spend both invaluable work and valuable time
with my family.
TNM explained,
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I had a heck of a commute. I commute 36 miles, from home. So, I would leave here at
6:00 in the morning and I’d be, you know, half-hour, it was fine. But at night, I could be
sitting in traffic for an hour to an hour and a half. And just that freeing me up of having
that gives me more time to get things done. I do like to work out. I do like to stay healthy.
I like to stay in shape. And so, having—When I’m done working for the day, I just
literally walk across the hall into the other room and change into my workout stuff.
All interviewees, regardless of age or role in the financial services industry, agreed time and
money spent on commuting to work was reallocated to being able to focus on life and self-
interests at home.
Increased work productivity. Many interviewees with or without family living at home
felt more productive working from home than in an office environment. Participants no longer
experienced interruptions at the office, such as impromptu, nonwork-related conversations with
colleagues. The positive impact associated with productivity increased the ability to focus on
work projects or tasks, spend more time on career development goals, and gain a work-life
balance when working from home during COVID-19. TNM shared, “I feel that I’m more
productive in my work, with working from home, because I can concentrate on things and not
always being interrupted. So, it’s, I think it’s been beneficial.” SFI expressed, “I probably wasn’t
working as long as I do now, and since that’s out of the equation, I’m spending more time with
my job, with my career.” Overall, participants in the financial services industry strongly agreed
that they felt more productive when working from home.
Financial gains. All participants found the benefit of saving money when working from
home during COVID-19. For example, working from home environments, for many
interviewees, meant an opportunity to no longer spend money on business attire worn at an office
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because their employers allowed casual dress attire when working from home. Participants no
longer paid costs associated with fuel, public transportation (e.g., busses or trains), and general
car maintenance or repairs. Some interviewees could reduce their auto insurance premiums
because they were no longer driving their cars to work. Further, participants saved money on
expenses associated with eating out at work (e.g., cafeteria or restaurants). Five of the 20
participants said their employers provided nominal stipends to reimburse for home utilities and
internet usage during the work week. VNA explained,
I’m able to make my own meals from home and, you know, saving money on that and
not filling up my car with gas. Um, it’s all been positive. No, it’s been amazing. There’s
support [from her company]. They—I know they send us like a stipend check for
electricity, every quarter, for full-time employees to give that cushion. Because now we
are working from home, now we’re using our own stuff. And, you know, we have bills
that, and our [home office] location [laughs] that we have to pay. So, yeah. They are
supportive in any way that they can.
Interviewees between the ages of 29 through the early 40s saw financial gains to save for future
expenditures, such as post pandemic vacations, home improvements, and paying down debt,
whereas interviewees between 50 to 60 viewed financial gains to save more money for
retirement and investing in their grandchildren’s educations.
Time gained for family and self. The positive work-life balance outcome participants
experienced when gaining excess time back into their schedule gave them the ability to focus on
their family and self. All 20 women shared how they spent extra time gained when working at
home during the pandemic. Many interviewees took advantage of removing household chores
(e.g., laundry, light housekeeping) done on weekends. They wove them into the work week for
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uninterrupted quality time with their family on weekends. Participants also experienced an
increase of flexibility in their day to attend to meal preparation and no longer felt stressed to
make healthy dinners at a reasonable time at night for their family. Also, many participants no
longer felt they needed to forfeit time toward focusing on themselves and their interests, hobbies,
or self-care practices. CRI shared how her work-life balance is positive when spending time with
her family:
I am able to be here, and I can kiss my husband and my girls goodbye as they head out
the door. I can cook lunches, and I can throw in a load of laundry, which is all very
helpful because then that means more fun, dedicated time with my family, and less chore
time at the end of the day, so those are good things. It is allowing me to steal more life
moments in the midst of work too. It’s allowing for more flexibility for me to be there for
my family and take some time with them when, when needed.
SFI shared, “I can come to Florida, take some time off [from my home office] and work and get
paid elsewhere without compromising my benefits.” LSG said, “I feel like [COVID] put it into
perspective that, my family is more important. And whether I do a Zoom call or phone, I can
still be connected [at work and with family].” TDW expressed,
Work, walking, eating dinner, time with family, shutting it down for the night, um,
became like the new schedule [for me]. I never. … I mean, I really never had that type of
schedule before. And once you start doing it, you enjoy it. I mean, I think you enjoy
having that freedom of time and then you feel good.
Regardless of interviewee’s age, marital or family status, redistributing time gained when
commutes and travel were no longer a necessity to get to work became an invaluable commodity
used for self-interests, self-care, family, and friends.
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Caregiving for family. Eight out of 20 participants were responsible for an elder or sick
family living in or outside their homes. Interviewees agreed caring for family members is
stressful and time consuming. Also, interviewees said work-life balance became more
manageable when they had flexibility in their work-from-home schedules for caregiving duties,
especially when interviewees were no longer required to travel for work. MLI expressed,
It worked out well. My job was based in [another state], and I would go to the office
there. I had worked out a deal where I would come to [another state] and work remotely 1
week a month for 8 months out of the year. However, several months into the pandemic, I
decided that if we were all doing such a great job working remotely, as our CEO was
telling us in town hall meetings, I would execute a long-term plan to move back to [my
mom’s state] where it would be easier to work remotely and still be able to take my mom
to doctor’s appointments. So, it worked out well.
Most participants, except for some interviewees employed by a bank or credit union
institution, strongly agreed that when they worked from home, there were fewer compromises
needed to successfully manage both work and life demands. The work-from-home environment
made caring for family less stressful and guilt free. Conversely, because banking, collection
agency, and credit union sectors did not initially have the compliance or data privacy technology
solutions to support working from home, interviewees in those sectors had to choose between
voluntarily resigning from work to care for family during the pandemic or finding alternative
solutions.
Healthier lifestyle. Fifteen of the 20 participants said they could impose healthier
lifestyles into their daily routines, which offset some negative physical and emotional well-being
work-life balance outcomes, such as stress, anxiety, depression, and weight gain. Interviewees
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found opportunities working from home during COVID-19 to control their eating habits, by
picking and choosing what they wanted to eat from their refrigerator, rather than purchasing
grab-and-go snacks or fast food while at work. Participants experienced extended periods of rest
and gained a couple of hours extra of sleep in the morning because their commute times shrank
to work down the hall at home, rather than driving to an office and worrying about traffic or
weather-related road conditions. Also, interviewees expressed feelings of solitude and peace;
they no longer rushed in the morning or after work to find moments of downtime between their
workday at the office. VNA explained,
Just knowing that I’m able to pick and choose what I want to eat. And if I needed to step
out, I can just easily walk outside my door and walk around the neighborhood and being
able to fluctuate my lunch sometimes when [work] is heavy, or waking up enough time
for me too, you know, feel comfortable and take care of the dogs and then settle myself in
before signing into work was just fantastic.
Participants, regardless of age and marital or family status experienced many personal gains as a
result of working from home; however, working from home was not without challenges, and
participants noted working from home had negative impacts on their work-life balance, as well.
Negative Work-Life Balance Experiences Working From Home During COVID-19
Participants expressed a heightened level of work-life balance chaos, related to new
challenges which impacted their work-life balance while working from home during COVID-19.
Two factors emerged from the interviewee’s positive experiences while working from home: (a)
extended work hours and demands and (b) managing family obligations.
Extended work hours and demands. At the beginning of COVID-19, all participants
described their work-life balance as changing when their companies shifted from office
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environments to work-from-home environments. Interviewees stated their workplaces had no
temporary or permanent guidelines or contingency plans to follow for working from home, when
extenuating environmental disruptions such as the pandemic took place. Participants stated their
employers did not know how to manage remote office employees or provide sufficient office
equipment to work from home. Also, the interviewee’s employers scheduled meetings
throughout the start and end of the workday, without considering scheduled breaks or providing
ample time to work on projects or tasks assigned. The outcomes impacted emotional well-being
(e.g., stress and anxiety) and physical well-being (e.g., fatigue and poor eating or sleeping habit).
Several participants experienced virtual office fatigue due to overlooked breaks or virtual
software cameras for daily meetings. Also, many participants reported an average workday lasted
well into the evening hours due to other work disruptions such as managing family obligations.
NFI expressed,
I didn’t know how to turn it off. I was working more sometimes. I would pick up my
daughter, bring her home and sometimes instead of going to the kitchen to cook, I would
sit back down at my work laptop and look up and I’ve spent another 2 and a half hours
[working].
Debbie shared,
I had a lot of virtual meeting fatigue. We had our cameras on for all meetings and had to
take classes on virtual meeting etiquette. Also, now that you are remote, I feel that the
expectations were higher from the employers and managers, so they felt that because
you’re saving that commute time, you can dedicate more time for more work time. So, I
think for the high performers that were consistently high performers, that became
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expected. It wasn’t appreciated. It’s the workload. The workload just increased so
dramatically based upon uncertainty, that everyone felt they were on house arrest.
Participants in the financial services industry were challenged to keep up with customer
demands (e.g., products or services) and leadership or management demands, such as constant
communication and micromanaging interviewees. Interviewees felt they needed to be constantly
accessible and present to justify their positions, for fear of being involuntarily losing their jobs
due to company layoffs.
Managing Family Obligations. Participants with family members living at home, such
as a spouse or significant other, children, or elders, experienced an additional layer of new work-
life balance challenges while working from home during COVID-19. Multitasking work-and-life
demands, for most interviewees, was a nightmare. Multitasking escalated, when schools and
daycares are closed or other family members living in the household tried to find ample space for
their needs (e.g., work, school, or play), when the stay-at-home orders were in place.
Interviewees’ days extended further, when overseeing their family’s needs, which decreased
their emotional and physical well-being. Participants expressed feeling second to work and
family obligations and constantly juggling time otherwise for themselves between family and
work, regardless of having familiarity or being newly exposed to working from home. JLG
expressed,
[Working from home] put a little bit too much pressure on the people [who are classified
as essential workers at the bank]. The [work-life] balance wasn‘t there during this time
[and I felt] I put on more of a burden on my other coworkers when I had to care for the
family at home.
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Overall, although participants who had child or elder care responsibilities before the pandemic,
found managing family obligations disproportionately increased when school or daycares closed
during the pandemic.
Findings: Research Question 2
The findings in this section answer the second research question: What are the
perceptions of women in the financial services industry regarding the individual factors that
influence work-life balance during COVID-19?
Individual Factors Influencing Work-Life Balance During COVID-19
Participants were asked about the financial services industry perceptions of individual
factors influencing women’s work-life balance during COVID-19. Interviewees identified how
they define work-life balance. Interviewees identified six main aspects that characterized
individual factors influencing work-life balance during the pandemic: (a) workspace at home, (b)
spousal or family support, (c) caregiving family, (d) children at home, eldercare support, and (e)
social connections with friends. Overall, participants felt like they were stretched too thin,
overwhelmed, and guilty when falling short of the time needed to attend to everyone’s needs,
including their own and work’s. Interviewees also expressed their perspectives on the absence of
boundaries and the importance of creating boundaries to help rebalance individual factors that
negatively impacted work-life balance conflict during COVID-19.
Workspace at Home
All participants experienced the absence of dedicated or ample workspace to separate
work and home life, regardless of having a work-from-home environment arrangement with their
employer before the pandemic. Employers initially saw work-from-home environments as
interim workspace solutions for employees; however, they were uncertain how long the
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pandemic and stay-at-home or social distance requirements would last or perpetuate the need to
work from home. Seven out of 20 participants expressed feeling isolated in their workspace. For
example, JHM shared,
The other draining part of that was doing everything in one space. I would walk across
the hall from my bedroom to my makeshift office, sit there for 12 or 14 hours straight,
and not move. Do you know? And just doing this, Zoom call. Zoom call, after Zoom call,
after Zoom call. So, the time seemed (laughs) to elongate is a great word. Time seemed to
be molasses-like. You get stuck in your day, and you look up and go, “Oh, my God. I
haven’t stretched. I haven’t gone to the bathroom. I haven’t eaten,” and it’s 3:00 p.m.
Several significant changes impacted the interviewees’ workspaces. First, family
members (e.g., spouse or significant other, or children) living at home simultaneously affected
by the pandemic’s stay-at-home and social distancing orders also needed space for their jobs,
schoolwork, or play areas. Also, the interviewees’ homes were not suited for work-from-home
spaces. The limited workspace resulted in interviewees setting up home offices at their dining
room tables, living rooms, or bedrooms, which interfered with the ability to focus and having
quiet workspaces, eliminating household noise or disruptions. Workspace limitations at home
resulted in participants feeling trapped and distracted, due to constant disruptions.
Spousal or Family Support
Participants in relationships (e.g., spouse or significant other, family members) residing
in or out of the household leaned on them to set their work-life balance during COVID-19. Some
women I interviewed felt awkward and uncomfortable in doing so. For instance, LSG stated, “I
know as most women, we always forget about ourselves,” and SRT said, “As women, we are
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afraid to ask for help because we are judged as a sign of weakness.” For other participants,
spousal or family support asked for others to help fill the void of loneliness or feeling isolated.
Interviewees who never asked for spousal or family support before COVID-19 found
themselves soliciting others to help manage household chores, children, or elder care needs.
When interviewees empowered themselves to ask for help and additional support in life demands
(e.g., household chores, children’s schoolwork, or eldercare duties), they reported relief. They
regained control over their daily lives and routine for self-care interests and improved their well-
being. Some participants also acknowledged new behaviors emerging from their spouses or
family members, such as providing unsolicited support, without being asked to do so. LSG
shared a time when her husband recognized she needed some help:
Even looking at my mental health, I wouldn’t have noticed that as much [working in an
office] as at home. My husband was like, “You, you’re tripping out. You need some
help.” And I was like, “Oh, okay” [and I became open-minded to receiving help from
him]. Before [COVID], I was like, “Okay, it’s just stress.” Also, I would probably have
starved to death if [laughs] he didn’t bring me my lunches, breakfast, and dinners.
Participants, regardless of their age, found their work-life demands did not decrease despite
receiving additional support from their spouses, significant others, or families.
Caregiver to Family
Participants strongly agreed there was never a time when they chose work over family.
Interviewees unanimously said the family came first, even before themselves. Participants coped
with work-life conflict by saying that “work will need to wait” and “family would always come
first.”
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Eighteen out of 20 participants used descriptions such as mom, grandmother, care
provider, and wife, when addressing their roles and caregiving experiences that
disproportionately disrupted their work-life balance during COVID-19. Interviewees who had
school-aged children or young children in daycare shared that during the COVID-19 pandemic,
they became more than a mother in the traditional sense (e.g., nurturer or provider). For example,
when community resources such as schools, daycare centers, or other support resources used by
the family (e.g., extracurricular activities, therapy) closed during the pandemic, interviewees
found themselves carrying additional roles of educator, babysitter, therapist, entertainer, and
coach. Multitasking between being a mother and these new roles decreased their emotional and
physical well-being. One interviewee, JHM, felt added stress and exhaustion when balancing
children’s challenges, such as depression or schoolwork. JHM expressed,
I think the change of schedules was a big part of it. The things that used to keep my kids
occupied, where I could maybe work in the evening, weren’t there. You know, the
practices and the different activities. But then, in addition to the extra help, they needed
with schoolwork, oh, my God. That probably is Number 1. The extra help they needed
with schoolwork and the time I spent just sitting with them, essentially teaching them
because they were getting assignments without context.
Ten of the 20 participants managed additional caregiving responsibilities for spouses or
elder family members living in or outside their households. Extra time provided to older family’s
needs imbalanced work and life demands. It continued to decrease the interviewee’s emotional
and physical well-being when simultaneously focusing on other family members and work
demands. In addition to caring for their spouses or children, women ensured their elder family
members attended doctors’ appointments, were fed, or spent time, so they did not feel isolated or
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alone during the pandemic. One interviewee, LSG, shared her additional caregiving role with her
mother and spouse:
My work-life balance is nonexistent, at least at this time, because I also have other stuff
with my personal life: taking care of an aging parent with dementia. Also, my husband
injured his back, so I needed to take care of his needs. So, I’m juggling that with, I don’t
even know, anywhere from a 9- to 15-hour day job. I have a limited time, pushing your
chores and everything off because I want to spend at least an hour or 2 with my husband.
Sometimes I don’t see my mom at all.
Another interviewee, JHM, shared her experiences in managing family and work demands, while
working from home during COVID-19:
As a mother, a caregiver, and an educator for your children, my son needs to see a speech
therapist, but a special kind of speech therapist. And I have to figure out where to find
that specialist, and then will my insurance cover it? And, you know, doing that type of
above and beyond parenting task always seems to come at the cost of something else.
Like, I’ve got to stop doing something. And whether that be work or other home stuff is,
you know, the question of what’s got to give. There’s also the issue of being the
sandwich generation. In addition, to taking care of my children, I’m taking care of my
mother, who is in assisted living. I feel like there are things I should be doing for her that
I’m not doing well. I’ll take her to an appointment, rather than take her out for lunch. I’ll
take her back to assisted living because I’ve got to get back to work. So, that’s where I
feel like nothing is quite the way I want it to be. That I could do either work or family
better, but doing both is hard.
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Interviewees employed in the financial services industry with family living inside or outside of
their home found they prioritized family over work and shouldered most of the family caregiving
responsibilities.
Social Community with Friends
Participants had positive and negative work-life balance encounters with their
communities and social connections with friends during COVID-19. Interviewees said when they
socially connect with friends, it helps them express feelings of isolation and depression; provide
opportunities to vent out frustration, anxiety, and stress; and build a camaraderie of support to
know they are not the only one experiencing work-life balance conflict. Although social
distancing and establishments used to meet were closed during COVID-19, participants used
technology to stay connected.
Some participants said while technology helped them stay connected and supported, the
absence of in-person gatherings, such as fitness centers, social clubs, or social outings, created a
negative consequence that increased depression and loneliness, especially for interviewees
between the ages of 29 through 61. LWT shared,
Connecting with people is important and when you only connect with Zoom calls we
only see facial expressions. I mean we’re not, you know, shaking hands, or quietly sitting
while quilting with my group of friends. You lose that physical connection. If you’re
silent on Zoom, you just see facial expressions. So, you either talk or just stare [laughs].
It’s not the same as being in my quilting club in person.
Work-Life Balance Boundaries
Participants named boundaries as the primary factor that helped them rebalance or negate
work-life demands and conflicts of individual factors that influenced work-life balance during
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COVID-19. The subject of boundaries evolved throughout their lived experiences and
perspectives. Interview questions about boundaries were not asked during interviews.
Participants spoke of their experiences and views of the presence and absence of boundaries in
their professional and personal lives. Participants were visibly and audibly passionate about the
topic of boundaries and when describing how boundaries permitted them to put themselves as a
priority and gave them control over work and life demands during the pandemic.
Absence of Boundaries
Twenty of 20 participants said the absence of boundaries allowed work and life
responsibilities to get out of control, when working from home during the COVID-19 pandemic.
Several factors contributed to the lack of boundaries. First, participants underestimated
sufficiently managing time, while working from home, to satisfy work demands and family
needs without elongating their day and sacrificing their personal needs such as self-care, sleep,
and food intake. Next, many interviewees expressed not knowing when to begin or end their
workday to attend to nonwork-related activities at home (e.g., family time, helping children with
schoolwork, or indulging in interests or hobbies). For example, one of the biggest challenges
many participants had in common was knowing when to walk away from work or family
demands and just say no. One woman interviewed expressed fear of workplace retaliation if she
was not accessible round the clock, including on weekends. Participants excused unreasonable
workplace demands, such as excessive workload, because of staff shortages, believing it was a
phase that would eventually pass. Interviewees also said they felt guilty when they did not attend
to their family needs (e.g., homework, household chores, meal preparations). Many participants
gave the benefit of the doubt to family members that over time, everyone would adjust and learn
to be more self-sufficient. The outcome in the absence of boundaries manifested an increased
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interviewees’ emotional well-being (e.g., stress level, exhaustion, fatigue, being overwhelmed,
agitated, annoyed, resentful).
Presence of Boundaries
Participants recognized when boundaries were present, they felt in control of their work-
life balance during COVID-19. Interviewees permitted themselves to create their boundaries.
One interviewee, JLG, summarized the need for women to set boundaries for themselves:
If you don’t go after [boundaries], they [family or work] will not give it to you. You have
to set boundaries because no one will. And it’s not intentional, but they will take away
your time. You know, my boss is a prime example. It’s not that she’s telling you don’t
take lunch, but she’s oblivious to the fact that you haven’t eaten lunch, and she hasn’t
taken lunch. So, now here we are, it’s almost four o’clock, we’re both almost shaking
because we haven’t eaten, but where do you even have the time?
Participants discussed the power of setting boundaries on individual factors influencing
work-life balance during COVID-19. First, participants strongly agreed boundaries start and end
with themselves. For example, setting time aside for self-care practices (e.g., fitness, meditation,
reading, napping), whether in 10-minute increments sporadically throughout the day or in time
blocks of an hour each day. Next, interviewees said chunking the day into small blocks of time
allowed them to build in natural stretch or refreshment breaks throughout the workday. For
example, small breaks throughout the day helped interviewees feel less overwhelmed and
stressed when creating a natural space between themselves, work, and family responsibilities.
For many participants, boundaries came in the form of separating technology resources (e.g., one
for work and one for personal) to prevent work and life demands from blurring into one another.
One interviewee, JHM, said,
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I’ve got a different laptop [one for personal use and one for work use]. I do homework on
that one. I put my work laptop away. And, like, Saturday [laughs] at 10:00 p.m., I saw
two emails on my watch from my boss, and I was like, yeah, those are going to wait until
Monday. I am not going to (laughs) look at them on Saturday night, at 10:00 p.m.
Further, participants noticed that toward the end of the pandemic’s first year, their
employers insisted employees return to office environments. Fifteen out of 20 employees
acknowledged there was no sense of urgency to return to a traditional office environment. They
set boundaries by sharing those sentiments with their managers at work. Boundary setting, as a
strategy, allowed women to take back control of their intrinsic needs and emotional and physical
well-being.
Findings: Research Question Three
The findings in this section answer the third research question: What are the perceptions
of women in the financial services industry regarding the environmental factors that influence
work-life balance during COVID-19?
Environmental Factors that Influence Work-Life Balance During COVID-19
Participants expressed they experienced many external environmental factors besides the
pandemic that influenced work-life balance during COVID-19. Participants described three
primary environmental factors contributing to work-life balance conflict: (a) school and daycare
closures, (b) organizational social connections and support, (c) workplace culture and career
growth, and (d) work from home environment.
School and Daycare Closures
Participants with preschool or school-aged children strongly agreed that the external
environmental factor that obliterated their work-life balance and created the most balance
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conflict was school and daycare closures. Interviewees cited several common reasons women
with school-aged children experienced increased work-life balance conflict. Some examples are
inadequate space in their home to set up learning environments; lack of resources, such as
laptops, desks, or chairs; and not having the skills to support their child’s learning, especially for
children with learning challenges. Sixteen of 20 participants had direct encounters with their
child or grandchild no longer attending school or daycare, when government officials in
mandated stay-at-home or social distancing orders. Interviewees continued home school or
caretaking responsibilities for non-school-aged children, outlasting the mandate restrictions due
to extenuating health care concerns or the lack of resources available to keep schools or daycare
centers open. Participants who once depended on their child or grandchild attending school or
daycare found themselves with additional responsibilities, such as education and daycare. Some
interviewees said they needed support for special needs children or those involved in
extracurricular activities, therapy, counseling, or coaching. Many participants experienced
decreased emotional well-being, such as feelings of despair, bouts of depression, mental
exhaustion, fatigue, and burnout.
Participants who took the additional role of educator or tutor said several issues
encroached on their work-life balance. First, the participants did not have the skills or knowledge
to teach kindergarten through high school coursework. Further, schools did not provide
instructional plans or guides to help interviewees teach their children. Many interviewees spent
up to 5 hours each school night, reviewing unrealistic homework assignments with their children.
Interviewees homeschooling their children had no choice but to attend to their children’s
academic needs during the day, which resulted in late nights making up time to complete
unfinished work assignments. One interviewee, JHM, recalled:
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That was the worst when the kids weren’t in school. When we were, you know, all just in
that space together, um, trying to work and live there. It felt like there was no balance at
all—everything was topsy-turvy. I think change of schedules was a big part of it. The
kids didn’t know what was going on with school. And the schoolwork just started going
to hell in a handbasket. I think change of schedules was a big part of it. The things that
used to keep my kids occupied, where I could work in the evening, wasn’t there. You
know, the practices and the different activities. But then, in addition to the extra help,
they needed with schoolwork. Oh, my God. That, yeah. That probably is Number 1. The
extra help they needed with schoolwork and the time I spent just sitting with them,
essentially teaching them. Because they were getting assignments without context, our
school district’s district guidance for homeschooling was poorly done. So, my kids were
struggling, and I was struggling.
Participants also talked about times their children needed help with using virtual
classroom technology or constantly interrupted them while working from home. SRT described
her school closure experience as “a nightmare”:
It was a nightmare. Plenty of personalities [in my family] play a huge role in how
COVID affects everybody. So, two kids, plus myself, were home because I worked from
home. One [child] is self-sufficient. He is a freshman in high school, gets on the
computer, and gets his work done. No questions asked. My daughter is an extrovert. She
had the worst time. She had meltdowns. She could not get on the computer. She didn’t
know what to do and always ran into my home office, while I was trying to get work
done. I could be in a meeting and have to put people on hold, turn off the video, just so
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that I can turn around and pretend like I’m listening but then also try to help her with her
homework. There was no work-life balance because there was no start or stopping point.
SRT further described work-life balance challenges due to limited space at home and needing to
filter through her daughter’s daily virtual class assignments:
My husband said, “I left, and you’re in this one spot in your pajamas, and I’m coming
home at 9:00 p.m., and you’re still in the same spot in those same pajamas.” It even got to
the point where I emailed the teacher and said, “We’re done with school.” I didn’t care.
“You can fail her. We’re, just not doing this anymore.” Her mental health, my mental
health, if I printed her work for the day, if it’s 200 pages, that’s insane for a third grader.
A third grader or a second grader is not self-sufficient on a computer. So, you’re like,
here you go in the kitchen, you turn on the computer, but every 2 minutes, there’s a
knock at the study. Mommy, I need help. Mommy, I need help.
Also, sharing work and home space to accommodate children’s need for academic
learning disrupted the interviewees’ work-life balance. Participants said they constantly had to
check on their children to ensure they were engaging in school and not their gaming devices.
Several participants said their workspace and children’s learning space were in one room. As a
result, participants found themselves distracted and interrupted at work and had no natural barrier
to help offset the time needed to be alone.
Social Connections and Support for Women Working From Home During COVID-19
Many participants reported, before COVID-19, a dependency on cultivating social
connections and support at work. Interviewees shared relationships gained were significant, as
they associated these relationships established at work partly with how they identified
themselves (e.g., current role), perceived value at work, and opportunities for networking,
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advancement, or development. Overall, women said peer or leadership support, camaraderie, and
relationships cultivated at work are essential for several reasons. First, social connections and
support in the workplace helped several women cope by discussing challenges experienced at
work, such as peer-to-peer or leadership conflict. Next, participants said social connections and
support received at work before COVID-19 gave them a sense of community and belonging.
Participants expressed a noticeable absence of social connections with their peers or
leadership team when they transitioned to a work-from-home environment during COVID-19.
All women experienced a significant absence of social connections and support. The lack of
support directly affected their psychological safety, such as job security, and further impacted
their emotional well-being, such as feeling isolated and stressed. For some women, seeking
career advancement opportunities, peer-to-peer learning or social mentoring was limited or
nonexistent. VNA gave an example of the importance of building relationships and the lack of
relationship building while working from home:
It feels different because I like building relationships, um, whether you are an existing or
new employee. The only downside is being hired during the pandemic because I don’t
know anyone. After all, we are not going into the office [laughs]. So, the only down part
is that if we were going to the office, it would be nice to see, like, who is new. And then
meeting them and then building a relationship from there
Another interviewee, BBI, transitioned into a new role and new company during COVID-
19. Her psychological safety diminished, and she always felt worried about her job, which
resulted in maxing her emotional capacity with another layer of stress and isolation which
impacted her work-life balance:
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I feel a bit disconnected. I mean, even though I work for a large company, [laughs]. I
have this tiny group of people that I work with, and that’s all. And so, there are no
personal connections whatsoever, except on the computer. I don’t know if it’s the nature
of the job I’m at in the company or if it’s just the reality of the world we live in now, but
I recently told someone, I don’t know who our HR [human resources] person is.
Everything is done remotely, and my HR person might be in another state or city. It is my
first time working for a company where I don’t have connections with people. I mean,
granted, I’m relatively new, but I’m not meeting people. I’m not making new
relationships or people outside of my little circle. That’s a little bit hard sometimes, and
knowing who to go to, to ask—Everything is technology based, to a fault.
Some participants also experienced positive outcomes when social connections and
support were absent in a work-from-home environment. For example, several interviewees found
they were more productive with their daily workflows, due to fewer office distractions or
disruptions by colleagues from spontaneous nonwork-related conversations. Interviewees also
felt working from home took the pressure off the need to socialize with peers when there was
never a desire to establish work relationships before or during the pandemic. LSG gave an
example of how she felt when social connections at work were no longer present in a work-from-
home environment:
Socially for that part, I do miss it. I don’t miss going into the office, though. Like a lot of
people feel that’s a social thing. It’s not social to me. I go in there to do my job. I love all
my colleagues. I’m not social with work. I’m social with family and friends that I haven’t
seen, not going into the office to see coworkers who are just coworkers.
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MKV said, “We learned to overcome isolation through daily Zoom calls. Like we do an hour
Zoom call every day in my agency now. An hour a day. Connections matter.” TNM shared,
I was worried about being a little self-conscious about how other people spend their time.
I needed to work longer hours to be available for the people that may have needed me or
needed to, you know, check in with or catch updates with, and they were all also on
meetings.
Interviewees said social connections in work-from-home environments felt unnatural and
structured and moved from informal to formal conversations and virtual settings. For example,
when participants reached out to a workplace colleague, they did so by finding a timeslot
available on their work calendar for a Zoom meeting. The interviewees experienced a virtual
state of social distancing and felt diminishing training opportunities for professional
development.
Training and Professional Development During COVID-19
Few participants said their organizations provided training for professional development,
when they shifted into a work-from-home environment during COVID-19. Interviewees who
changed roles and transitioned into a new workplace felt lost. Nineteen of 20 interviewees shared
experiences that their organizations did not have any virtual training or professional development
opportunities. One newly hired employee felt “lost” during new hire training because her
organization had no virtual training. Further, some participants felt their workplaces did not care.
The absence or limited training for professional development to support their current roles or
career growth aspirations affects interviewees’ emotional well-being (e.g., insecurities, stress,
disengaged) and their psychological safety (e.g., job and financial security). Only one
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interviewee reported her workplace provided over 100 video training options to employees,
although leaders were ambivalent about whether individuals used them.
Two of the 20 participants were self-employed and empowered themselves to find
external training and development resources to make themselves feel relevant in the workplace
and keep their business afloat. Their emotional well-being shifted into a positive state, making
them think they had control over work-life balance demands during COVID-19. One
interviewee, KMG, said: “I got certified [as a] woman-owned small business, through the small
business association. I think the biggest thing was, you know, positive because it pushed me to
focus more on what I needed to do as a business owner.” Another interviewee, MKV, gave an
example of how her emotional well-being rebalanced when she hired a life coach:
She taught me that I needed work-life balance. I needed to set healthy boundaries. I
needed to say no. And so, I’m learning through COVID-19 that people can work
remotely and be successful. It was easier for me to remind my team, “Hey, I’m going to
move.” I don’t know if I would’ve felt confident in making this move because I wouldn’t
have known if I could run my agency from 2 and a half hours away
Career Growth Affecting Women’s Work-Life Balance During COVID-19
Participants reported they felt their gender roles during the pandemic influenced
workplace leadership decisions, such as promotions and access to mentors or development for
career growth opportunities at work. Thirteen of 20 participants expressed feeling anxious, due
to the political landscape at their organizations. Participants experienced the fear of losing their
jobs due to company layoffs. Interviewees said they did not have access to adequate office
equipment (e.g., data encrypted, fire-wall laptops used to process financial transactions mandated
by regulators for companies employing essential workers at financial institutions) to use at home.
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One interviewee, KKF, was laid off after 20 years of employment. She shared to offset
disruptions to her work-life balance, she took the opportunity to change her work-life balance
positively:
I was laid off not because of performance but because of the state of the environment
during COVID-19. It had been nearly 20 years since I applied for a job. I was serious
about looking for a job. I wasn’t sure how to interview. So, I started taking courses to
improve these skills, you know, interviewing, resume, learning how to put together a
resume, feeling confident of getting my confidence back. I ended up getting another job
shortly after that in financial services.
Five out of 20 participants said they were afraid to speak up to their managers when
given excessive workloads due to staff shortages in their departments or organizations.
Interviewees said they just dealt with additional work, even though it impacted their emotional
and, at times, physical well-being because they were just thankful for having a job. One
interviewee, LSG, said when she did approach her manager about an excessive workload,
creating an inability to take lunch, instead of addressing the concern, her supervisor said,
“You’re an adult. Figure out how to manage your time better.” Overall, participants felt
workload demands or access to resources for working from home during COVID-19 severely
impacted their emotional and psychological state of mind.
Two of the 20 participants felt they were in a Catch-22, when their unreasonable work
expectations overshadowed their personal work-life balance needs. One interviewee, JLG, stated
she felt her physical well-being was at risk when her manager required single employees to
report to the office, so other workers could stay at home with their families and work from home.
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Three out of 20 participants experienced not getting promotions during COVID-19 and
experienced gender bias. One interviewee, MLI, shared while there were limited positions posted
for promotions, she witnessed how leadership chose individuals for job growth opportunities:
There wasn’t a lot of room for promotion, but the people promoted were mostly men who
didn’t take the time off for life-type things, such as a child or eldercare. The culture of the
organization was top-down, filled with men in leadership roles, and frowned upon anyone
working from home during COVID-19 to help manage family issues.
Another interviewee said that COVID-19 did not change the gender inequity issues for women.
It just highlighted that it existed at her workplace. LSG said, “It was always about who you
know, not what you were capable of doing [performance].”
Two out of 20 women shared they took the opportunity of workplace involuntary layoffs
to recalibrate their work-life balance to gain personal needs that were missing before the
pandemic. One interviewee, SRT, decided to control her work demands after being laid off and
took her knowledge in the financial services industry to open a small business. Another
interviewee said, “Despite other work-life balance challenges during COVID-19, this career
change was the best decision I made for myself.” SGP also shared a positive experience after
being laid off that allowed her to put her manage her life and family better:
Companies in the financial services industry strictly adhere to in-office work life, and I
had to deal with school closures, and my children at home. I changed [jobs]because [a
new company] was willing to hire me and many others remotely. Had COVID not
happened, I don think that that would’ve been the case, and my current role here. I mean,
I’m definitely in a better, in a higher position with a better compensation package, and
I’m 4 hours from the office. So, it physically would not have been the option before
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COVID-19. Even if they had required me to be there once a month or something like that,
I wouldn’t have made the career change.
Participants in their 20s to 40s or were single, divorced, or widowed expressed a stronger
focus on career growth. Career growth in the financial services industry for some interviewees
meant achieving C-suite or higher leadership roles in men-dominated workforces. Women also
expressed an increase of psychological safety due to financial losses associated with involuntary
layoffs or hour reductions when they had no other dependents in the household to help with
expenses. Conversely, interviewees in their 50s to 60s and who were married felt a stronger
sense of job and financial security due to tenure and salary did not see a strong importance on
their career growth during the pandemic. When given a chance to reduce hours while working
from home, their psychological safety and well-being was not as compromised because they also
had additional support at home to lean on and were not dependent solely on their careers.
Employer Work From Home Expectations and Work-Life Balance Conflict for Women
All 20 women directly or indirectly were challenged with more work-life balance
conflict, while working from home during COVID-19. First, interviewees cited their employers
had no contingency or readiness plans to guide employees during the pandemic. Most
participants said the transition from working in an office to a work-from-home environment
came without warning, with little thought from their organizational leaders on supporting their
workforce during this time. One interviewee, SFI, said, “It was like a grab what you can of your
work belongings and wait until further details development, and we’ll figure it out as details of
the pandemic unfold.”
For many interviewees, the lack of clear company expectations gave them no choice but
to set their directions of workplace expectations. Many interviewees said they took matters into
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their own hands, by developing their own rules and guidelines when working from home. The
outcome interviewees hoped for was demonstrating decision making and their commitments to
their employer by keeping productivity levels high, leading to job security and growth. Instead,
all 20 participants said they demonstrated team-player attributes and a commitment to the
organization by working longer hours and always being accessible to the office. The inability to
disconnect from the office and their laptop or cell phone found interviewees skipping meals and
structured breaks and extreme fatigue and exhaustion. SEW expressed:
[My boss and coworkers] just weren’t—They weren’t respectful of people on different
time zones because they had it in their mind when they were going to meet. It was
stressful because there were times; literally, I would take myself off [a Zoom meeting or
call], put it on mute and take my bath, bring my laptop to the restroom, turn the camera
off and sound on mute. And now I won’t do that, you know. It’s just—I’ll walk away,
and I’ll put it on mute, but I’m not going to do that. But there were times when I was so
busy and had no choice.
Interviewees subsequently felt their leaders and managers took advantage of their efforts
by not imposing guidelines or boundaries, such as working hours and workloads that were in
place at the office before the pandemic. Workload demands began to overshadow and imbalance
the interviewees’ personal needs, leading to emotional burnout and exhaustion.
Second, interviewees experienced shifts in the workplace culture, while working from
home, that did not exist before the pandemic when working in an office environment. All 20
interviewees felt micromanaged by their direct reporting managers. For example, interviewees
said they had managers schedule daily Zoom or Microsoft Team meeting check-ins. Interviewees
said this contributed to their demise of emotional well-being, such as fatigue, burnout, and
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micromanagement behaviors, which left many interviewees struggling with trust issues between
themselves and managers. One interviewee, TDW, shared a sense of her daily virtual meeting
schedule:
So, all of a sudden, it was like, all right, our standard meeting times became 5 o’clock, 5
thirty, 6 o’clock, and I was like, this is not good for all of us because all we’re doing is
extending the day. And once we kind of that settled a little bit like, okay, we do not have
to keep meeting at 6 o’clock and going until 7, what are we doing? We didn’t do this, you
know, necessarily when we were in the office. We need to make time.
Without a set of company work-from-home expectations, many participants, regardless of
their age or role in the financial services industry, had no sense of direction while working from
home. The lack of direction from leadership at their company led to negative changes in their
workplace culture including low morale, voluntary resignations, and continue to take a toll on
their physical, psychological, and emotional well-being. Conversely, when leadership at their
organizations provided clear guidelines and time management boundaries for interviewees,
positive changes in their workplace culture took place, including interviewee’s attitude such as
their morale.
Workplaces Supporting Women’s Work-Life Balance During COVID-19
Participants shared their perspectives and experiences of positive and negative changes in
their organization’s workplace culture that were contributing factors supporting work-life
balance during COVID-19. Four factors emerged from interviewees: culture, office equipment,
psychological safety and wellbeing programs, and work hours.
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Culture
In interviews, many women experienced a culture shift in supporting women’s work-life
balance needs between the first and second years of the pandemic. Interviewees defined support
at work as tangible benefits such as being valued by receiving rewards or recognitions or
additional days off with pay and stipends to help offset office-related expenses while working
from home. One interviewee, LWT, expressed:
I think they’ve done a great job of stabilizing everything for the employees to let them
know that it’s going to be okay, and we appreciate you, and you have a job, and we’re
good. And that’s very comforting for people.
Another interviewee, DMI, shared her workplace gave employees a quarterly stipend to purchase
snacks and coffee that were free in an office before the pandemic.
When entering the second year of the pandemic, interviewees defined intangible benefits
such as their managers and workplace becoming more empathetic to the family challenges
women experienced while working from home by being available to vent frustration to managers
without fear of retaliation. Five of 20 interviewees said the positive changes in the workplace
culture helped them to improve lack of interest and decrease fatigue, burnout, and stress. One
woman, SFI, said,
When my leadership team and managers became more visible and accessible to
employees, such as being available when challenged with family dynamics during work
hours such as child, elder, or family care, it heightens the level of respect across the entire
organization.
Another interviewee, TDW, shared:
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My company encourages the work-life balance for sure. They had a meeting 2 or 3 weeks
ago, and it was about how to reduce the number of meetings you’re in and how-to, you
know, make it so you can get your job done in a reasonable 40 to 43 hours a week. We
talk about the goals with direct reports.
Many participants felt their voices were heard after expressing how their workplaces needed to
support them, had a higher sense of value and worth at the company, and reduced their
psychological, emotional, and physical well-being hardships.
Office Equipment
Most participants said their companies provided employees with office equipment, such
as laptops, headsets, and sometimes desks and chairs, to set up a work-from-home office and a
monetary stipend for office supplies, such as paper, printer ink cartridges, and pens. Due to
confidentiality and policy restrictions, interviewees deemed essential workers eventually
received technology resources to ensure consumer sensitive or financial data transactions were
maintained for essential jobs in a home environment. SFI expressed,
Our office provided laptops and cell phones and ways to maintain PCI [payment card
industry] compliance, because you know, when working from home, we must make sure
that your team had what they need, needed to feel comfortable. Like I said, in the
beginning too, you know, like I know one of my people was working on a TV table and
was like, well, we can’t get you. We don’t, we can‘t buy you a desk, but here we do have
furniture at the office.
Other interviewees expressed their companies were severely delayed in providing access
to compliance software and technology to maintain adherence to the financial services industry
regulatory requirements to protect sensitive and nonpublic information from adverse risks such
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as identity theft. One interviewee, SFI said her company had a sign-up sheet, so employees could
safely socially distance but use the office printer once week, or employees without internet could
work at the office, scattered throughout the building to adhere to social distance protocols in the
community. Another interviewee, JLG had no choice but to report to her office because her
company would not provide any compliant related resources to work from home.
Psychological Safety, Wellbeing, and Wellness Programs
Many participants said their organizations provided health and wellness programs to help
women manage work-life balance during COVID-19. Interviewees felt valued and appreciated
and sensed that their companies understood why the work-life balance was important to them,
especially during COVID-19. Some participants reported their companies’ paid employees and
encouraged taking time off, regardless of why they could not work (e.g., family care or self-care
needs) for the entire length of time needed off work. Participants said it made them feel more
financially, psychologically, and emotionally secure, so their levels of exhaustion, fatigue, or
burnout decreased, and they felt less anxious and depressed. One interviewee, LWT, said leaders
at her company feel supporting employees by paying for their wellness needs, such as taking
time off work for themselves or family members, is another cost of doing business during the
pandemic. Another interviewee, DMI, shared her company incentivized employees by
accumulating participation points, when using free wellness programs, to support their physical
or emotional well-being, decreasing health care premiums each month.
Flexible Work Hours
Participants said during the pandemic their companies’ work hours did not align with
family obligations, which caused a tremendous amount of work-life balance conflict. Participants
expressed that well into the second year of the pandemic, their organizations recognized
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employees’ needs for flexible work hours to manage nonwork-related responsibilities (e.g.,
family care) during COVID-19. All women said flexible work hours helped increase their work-
life balance needs by reducing worry or stress when nonwork responsibilities, such as family,
child, or elder care occurred during regular business hours. Interviewees also said the flexible
schedule also gave access to women to focus on themselves for self-care activities such as
exercise, hobbies, or personal appointments during COVID-19. One interviewee, SRT,
expressed:
Work needs to understand women in the roles that they’re in and that they still have to
take care of the family on top of work and themselves. I think it has helped quite a bit
when [managers] were both understanding. You had a lot of people that were in the same
boat [managing family during COVID-19]. Um, so, I feel that there was much more
understanding because everybody was going through it.
Another interviewee, TDW, said when her employer provided everyone with the flexibility to
choose how to manage their daily workloads, her level of stress and anxiety was gone:
Giving people the ability to start their day when they want is essential. Some people on
my team build a schedule around what works for them. Some people work early, then off
work for school pickups and stuff like that, and then they come back and log on. So, that
doesn’t count as paid time off, where people don’t have to use vacation or sick time but
are supportive in allowing very flexible schedules.
Workplace Conflict Affecting Women’s Work-Life Balance During COVID-19
Not all participants reported their organizations provided ample support to manage work-
life balance during the pandemic. Several factors contributed to workplace conflict that affected
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women‘s work-life balance during the COVID-19: (a) no support from their management team,
(b) staff shortages, and (c) unsafe work environment.
No Support From Management Team
Participants expressed their organizations spoke at length about the importance of work-
life balance but never put processes in the organization missions or cultures to execute it
throughout the pandemic. All interviewees perceived their organizational leaders at their
financial services companies treated work-life balance as a novel concept, rather than put
measures into place for practical use. LSG shared:
Work-life balance is just a buzzword now. Just like mindset and all these things people
talk about at work. They try to do a good job and stress the importance of work-life
balance, but when I need to take time away, they say, “We all need work-life balance.”
But they’ve done well on the other side of it, which is mental health.
Staff Shortages
Another workplace conflict that created an imbalance in their work-life balance needs
was staff shortages due to company reorganizations, layoffs, early retirements, or reduced hours
available to work. All interviewees said when their companies decreased their workforces, it
ultimately increased the workload on employed individuals. JHM shared, “When COVID started,
we cut 10% of our staff but didn’t cut 10% of our activity. Those positions aren’t coming back—
a 10% reduction in force. You inherited 10% of the workload.” Other participants expressed
feeling resentful when given no choice but to take the additional workload due to layoffs at the
company. As a result, participants said it impacted their emotional wellbeing and felt if they
expressed concerns about the influx of work, it would be considered a sign of weakness and
jeopardized their jobs or future growth at the company.
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Unsafe Work Environment
The absence of psychological safety in work-from-home environments created workplace
conflict for the interviewee’s work-life balance during COVID-19. Two of 20 participants stated
their organizations’ leadership team ignored or did not acknowledge challenges they experienced
outside of their family or interpersonal needs, such as social injustices disrupting their home
environment (e.g., neighborhood). One interviewee, JLG, shared, “When you combine COVID-
19 and the social injustices that are taking place in our country, it becomes too much for me to
handle, and I did not feel safe nor feel supported by my employer.” Another interviewee, NFI,
shared:
Between COVID and the whole George Floyd thing and living in that space of just anger,
it was hard to sleep because of being appalled at how leadership reacted. That crossed
over into my mental health a little where that anger makes you snappier. It just makes
you not enjoy certain things. Then I had a coworker dealing with racial violence, right
outside her door. I have another coworker who had the, um, and she had the National
Guard blocking her street, and they had to show IDs to get in and out of their homes. We
got no acknowledgment from leadership, and it makes you wonder, I’ve given you all this
time [as an employee], and you can't even say, “How are you?” or, “Is everything okay?”
I did not feel l supported or psychologically safe.
Summary
In summary, the interviews garnered an understanding and critical awareness of
participants lived perspectives and experiences on their work-life balance during the COVID-19
pandemic that directly contributed to answering the three research questions.
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Research Question 1
In summary, three themes emerged when answering interview questions related to
Research Question 1. First, the participants defined what work-life balance means to them.
Interviews revealed that while each interviewee expressed similar attributes and characteristics to
describe work-life balance, no two definitions were the same. Different perspectives exposed
some reasons why there is no singular definition of work-life balance, including social class
identity (e.g., age, relationship status, and family status). Interviewees’ responses suggest the
organizations that employ them and the leadership team and colleagues (e.g., male or female)
with whom they work also uniquely define work-life balance. The different viewpoints on work-
life balance can ignite and perpetuate work-life conflict in women’s personal and professional
lives.
Second, the participants explained why work-life balance was important. Regardless of
the interviewee’s family or relationship status, all 20 interviewees reported nonwork
responsibilities, obligations, or commitments were priorities over their job. Interviewees’ orders
of prioritizing family and self before work might explain how work-life conflict occurs in
employee-employer relationships. Next, participants expressed that their emotional, physical,
and psychological well-being must be centered and intact to feel a sense of balance between
work and life demands and to fully function and be present for their family and job. When work-
life balance is out of sync or absent, interviews suggested adverse emotional outcomes such as
anxiety, depression, stress, and burnout and negative physical consequences such as fatigue,
exhaustion, migraines, or other physical ailments. Interviews revealed the abilities of
interviewees to manage emotional, physical, or psychological capacity overloads varied by
individuals in an organization’s culture (e.g., employee, leadership team). Interviews suggest
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organizations eliminate a one size fits all solution to support individuals’ physical and emotional
well-being.
Third, although work-life balance challenges are not novel, interviews exposed
underlying perceptions that changed interviewees’ viewpoints, dynamics, and perceptions of
work-life balance during the COVID-19 pandemic. Interviewees compared their work-life
balance experiences before and during the pandemic. Several changes in their ecosystem affected
their work-life balance, such as changes in their work environment (e.g., shifting from an office
to a home location), disruptions in their communities (e.g., school and childcare closures), and,
most notably, the COVID-19 pandemic itself. Interviewees suggested how organizations can best
support their work-life balance needs when disruptions occur, such as flexible work hours,
extended days off with pay, customized wellness or support groups, and empathy and support
from their leadership and management team.
Research Question 2
In summary, interviews uncovered six factors that influenced the interviewees’ work-life
balance during COVID-19 related to Research Question 2. The first factor is the workspace at
home. The sudden shift in migrating from an office to a work-from-home environment left no
room for interviewees to designate an uninterrupted workspace or figure out how to share the
home environment with other family members during the pandemic. Also, the immediate impact
of COVID-19’s community social distancing and stay-at-home orders left no opportunity to
negotiate alternative work environment options for interviewees. The lack of separation between
work and home removed lines of division between work and life demands and eradicated time
devoted to either activity. It caused havoc on interviewees’ emotional and physical well-being.
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Next, participants emphasized while their spouses and significant others increased levels
of support at home during the pandemic, the burden of care for interviewees disproportionately
increased when caring for family, providing elder support, and managing children at home
during the pandemic. When schools and daycare centers closed, interviewees suddenly assumed
the role of educator when overseeing and teaching virtual classroom curriculum and daycare
activities for children living. Interviews exposed an additional function of elder family
caretaking responsibilities when assisted living centers suspended new residents during the
pandemic.
Furthermore, interviews suggested the suspension of in-person social gatherings with
friends in their social circle further strained their emotional wellbeing. Interviewees gradually
felt isolated and disconnected from their friends. The use of technology for virtual work and
meetings caused efforts to socially connect with peers at work to be short-lived because
interviewees experienced a sense of Zoom or Microsoft Teams meeting fatigue. Interviews
suggested the absence of social interaction with friends outside of work increased feelings of
depression and loneliness, and there was no natural outlet to vent feelings of frustration or
fatigue that led to anxiety, anger, or burnout at work and home.
All 20 participants brought the topic of boundaries. Interviewees suggested the need to
create boundaries for both work and life demands to establish balance. Interview questions did
not directly address the subject of boundaries when addressing individual factors contributing to
work-life balance challenges during the pandemic. Interviews suggest when interviewees
separate time and space between work and nonwork (e.g., family, interests, or hobbies) demands,
healthier emotional and physical outcomes prevail, such as a decrease in anxiety, depression,
stress, burnout, fatigue, and exhaustion. Interviewees also noted when they solicited employers
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or family members for boundary guidelines, none took place. When interviewees created change
associated with boundaries that aligned directly to their intrinsic needs, they no longer felt a
sense of being out of control. After that, interviewees eased into the ability to recenter and
recalibrate work-life imbalances.
Interviewees suggested the importance of women taking control of what they need by
creating boundaries, rather than asking employers or family to create boundaries to offset or
manage individual factors affecting work-life balance during the COVID-19 pandemic.
Boundaries when used as a strategy permits participants to take back control of their intrinsic
needs and wellbeing.
Research Question 3
In summary, interviews disclosed four environmental factors influencing work-life
balance during COVID-19. Work-life balance demands exponentially increased challenges that
interviewees experienced before the pandemic. Work-life imbalance resulted from simultaneous
changes caused by the environmental pandemic between home and work and home and
community. Interviewees suggested women experienced no clear sense of direction or timeframe
from the organization’s leadership required to make sufficient adjustments in their nonwork-
related commitments and responsibilities.
School and daycare closures were the first environmental factor that changed the
interviewee’s work-life balance. Interviewee workdays became extended into evening hours and
weekends to make up for time lost in the week due when taking on the role of educator to
manage virtual class curriculum, lesson plans, and homework for their children. Also,
interviewees experienced constant disruption by non-school-aged children, seeking attention,
while work meetings took place at home. While work demands and job tasks did not change due
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to the pandemic, interviews suggest that organizations made limited concessions for helping
interviewees balance family demands, such as homeschooling or childcare activities during work
hours.
Another environmental factor impacting the interviewee’s work-life balance is changes in
the workplace culture. Interviews suggested when organizations shifted from an office to a home
environment, social connections for mentoring and networking and organizational support such
as training to advance career growth, advancement opportunities, and current job development
was either not accessible or not supported in a virtual office environment. The lack of social
connections and organizational support jeopardized women’s emotional wellbeing (e.g.,
perceived value at the job, stress, and anxiety) and psychological safety (e.g., job and financial
security). Interviewees suggested while some organizations provided virtual social connections,
they felt prescriptive and unnatural, monitored by leadership, and added to the virtual meeting
fatigue from virtual meetings taking place throughout the day. Organizations can learn from the
experiences and perspectives of participants to build virtual networking and support and
mentoring programs that address the current needs of the workforce.
Next, participants strongly agreed the work-from-home environment presented positive
and negative changes. Interviews suggested working from home decreased stress and anxiety
related to the absence of long commutes to work, and instead could be present for family needs
and repurposed commute time to work for self-care activities such as fitness, hobbies, or
interests. Interviewees also suggested an equal number of adverse outcomes, while working from
home, such as insufficient office equipment or supplies to support their remote workspace and
leadership micromanaging tactics to ensure interviewees were working rather than focusing on
family demands. The interviewees also felt working from home may have contributed to being
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selectively laid off or passed over for promotion by their employer, significantly when demands
at home with family obligations overshadowed work responsibilities. Interviews suggest that the
organization’s capacity to support the interviewees’ work-life balance, changing needs and
demands during the pandemic was in theory and not in practice.
Finally, all 20 participants were asked, “What do you wish you had done differently in
managing your work-life balance during COVID-19?” Many ideas the participants shared are
grounded in the recommended solutions to the financial services industry and organizational
leaders in Chapter 5.
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Chapter Five: Discussion and Recommendations
This study was conducted to learn about women’s lived experiences related to work-life
balance during the COVID-19 pandemic and to offer recommendations to the financial services
industry. Twenty women employed in the financial services industry participated in the
qualitative research. Twenty-one open-ended semi-structured interview questions guided the
study and informed me of women’s perspectives, experiences, and worldview beliefs and
connected the Bronfenbrenner (1979, 1992) ecological model used for the conceptual framework
in this study to answer the three research questions:
1. What are the perceptions of women in the financial services industry regarding their
work-life balance during COVID-19?
2. What are the perceptions of women in the financial services industry regarding the
individual factors that influence work-life balance during COVID-19?
3. What are the perceptions of women in the financial services industry regarding the
environmental factors that influence work-life balance during COVID-19?
This chapter discusses three recommended solutions for organizational leaders and
managers in the financial services industry to use when implementing systems, resources,
policies, and processes to equitably support work-life balance for its workforce as an ordinary
course of action before, during, or after environmental factors such as COVID-19. Implications
for practice and future research conclude this chapter.
Discussion of Findings
This study found participants were employed in several sectors in the financial services
industry including banking, credit unions, credit and collection, and insurance. Participants were
employed full-time, held roles such as key employee, management, C-suite, and business owner,
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and were employed in the financial services industry between three to 35 years. Participants
lived across many geographical regions (e.g., East Coast, Midwest, and South) throughout the
United States. Also, a broad population of demographics represented women’s social class
identity (e.g., age, marital/relationship status, family status, and race). Each woman interviewed
clearly articulated how they viewed and experienced work-life balance during COVID-19 and
raised the awareness of new challenges and changes to their work-life balance paradigm before
the pandemic.
Several themes emerged throughout the research study among the 20 participants. Some
emerging themes aligned with the literature reviewed in Chapter 2, while others were unexpected
when addressing work-life balance during the COVID-19 pandemic.
One theme that emerged is that work-life balance for women is not new. Since the
inception of women actively entering the workforce during World War 1 and having a visible
presence in the financial services industry in the 1970s (Yellen, 2020), work-life balance
challenges for women employed in the financial services industry existed well before COVID-
19. External environmental factors within a women’s macro-, exo-, and micro- ecosystem,
trigger disruption of individual factors (e.g., home, family, community) inside the microsystem
layer and closest to the individual’s intrinsic needs and own being. Unlike other economic,
environmental, or health disruptions occurring in the United States earlier this century, COVID-
19 affected women’s employment status much quicker. According to the U.S. Census Bureau, by
mid-July 2020, one in five women left the workforce (U.S. BLS, 2020c). Women who remained
employed recognized early on during the pandemic many external environmental changes that
impacted their ability to focus on work, such as school and daycare closures (Lui, 2021).
Challenges affected women’s nonwork-related responsibilities, and many reduced their work
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hours, using PTO, or taking time off with no pay (Collins et al.,2021). In dire circumstances,
using the last resort option to resign or take early retirement (Collins et al., 2021; Cohen, 2020;
Heggenes & Fields, 2020). The literature suggests the increase of caregiving responsibilities and
nonwork-related demands outside of work significantly impacted women’s careers and further
perpetuated women missing career advancement opportunities (Connley, 2020).
The findings in this study aligned with the literature reviewed on employment statistics in
Chapter 2. Three of the 20 participants experienced a temporary layoff for up to a year before
finding new employment, two women resigned and started their own financial service business,
and five reduced their hours at work. Participants expressed a dire concern about their nominal
length of time out of work during COVID-19 and the lack of social connections and mentorship
lost during their transitional absence at work to help them with future career growth. Participants
expressed anxiety and stress when they felt their psychological safety (e.g., job or financial loss)
was in jeopardy over choosing their family responsibilities over work commitments.
Another emerging theme concurred with literature in Chapter 2 and told by interviewees
is the perception of gender roles in the family unit at home and workplace, which affected
women’s work-life balance during the pandemic. At a macro-level, gender roles continued to be
dynamically influenced by pre-existing assumptions and biases occurring in social and cultural
norms taking place in society. Gender role biases often get transferred and perpetuated into the
home or the organization’s culture. Preferences are affected by individuals’ ontological views
when establishing policies related to employment guidelines, promotions, or support (K. Miller,
2018; Reichelt et al., 2021). During COVID-19, depending on the women’s relationship status
(e.g., single, married, divorced, or widowed) and family status (e.g., children, spouse, or
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significant other, elder care), women absorbed between 60% to 100% of all household, childcare,
and family care responsibilities (Alon et al., 2020; Carli, 2020).
Findings in the study revealed participants felt an increased level of simultaneously
multitasking a family and work demands throughout the work week. Interviewees could no
longer divide time proportionately or create boundaries between work and home commitments.
Most participants felt overlooked or unsupported by their spouse or significant other at home and
leadership at work. Women’s work-life balance was in constant conflict, adding strain to their
emotional (e.g., anxiety, stress) and physical well-being (e.g., state of health, fatigue, exhaustion,
depression). The demise of interviewees’ well-being became further compromised by other
disruptions that disproportionately unraveled their work-life balance during COVID-19.
Additionally, all participants reported that gender roles influenced workplace decisions, such as
promotions and resources to support training and development for career advancement
opportunities.
New to the work-life balance phenomenon that continues to challenge the dynamics of
work-life balance for women during COVID-19 changed to the individual environmental factors
residing in the interconnecting layer of the women’s ecosystem. Two individual factors,
community, and home, in the women’s microsystem layer of the women’s ecosystem
predominantly changed in the microsystem layer’s ecosystem and significantly impacted
women’s work-life balance during COVID-19. Literature suggested school and childcare
closures were the number one factor contributing to women’s work-life balance challenges (S.
Miller, 2021). Changes in the home to find adequate workspace while working from home were
the second-largest individual factor that changed work-life balance for women (Ellison, 2021;
Ranjitha et al., 2021).
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Findings in the study disclosed participants with children living at home during the
pandemic experienced daily disruptions during regular office hours due to external factors in a
women’s microsystem such as schools and daycare closures or additional caregiving to family or
elders living in or outside the household. Participants found themselves not only being a parent
and care providers but assumed a new role of homeschool educator, tutor, playmate, and
therapist. Interviewees experienced blurred boundaries. The unclear boundaries result from the
interviewee’s additional time and attention to work demands and family commitments. The
outcome created an imbalance and conflict with no time for women to devote to themselves for
self-care (e.g., fitness, meditation, sleeping), hobbies, or interests (e.g., book clubs, social
gatherings with friends, crafting). The onslaught of work-life demands and overarching barriers
that prevented women from having time for themselves further exasperated feelings of burnout,
exhaustion, stress, anxiety, and depression.
Another new work-life balance phenomenon for women during the pandemic was
external environmental factors other than COVID-19 itself residing in the exo-system layer of
the ecosystem. Factors included changes in the workplace culture that affected women’s social
ability to connect and network at work, access to resources such as office equipment and training
and office environment such as shifting from an office to working from home. Literature
suggested favorable and unfavorable outcomes affecting work-life balance experiences for
women during COVID-19. Positive results included time and money saved and productivity
gained at work by eliminating employee commute to the office (Abdullah et al., 2020). Another
positive outcome is that work-life conflict slightly diminished when women could allocate time
for family when working from home (Abdullah et al., 2020; Coban, 2021; Kaushik & Guleria,
2020). Adverse outcomes affecting women’s work-life balance during the pandemic include
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inability to access alternate office workspace, lack of social connection with peers or wellbeing
resources, insufficient office equipment or supplies, and virtual training and development
resources for job support and growth (Addullah et al., 2020; Carnevale & Hatak, 2020).
Findings revealed participants felt their organizations did not provide well-being or
adequate well-being support programs, leaving many feeling the absence of psychological safety
at work. Over 50% of participants stated that their organization‘s culture or leadership team was
“oblivious“ to what employees working from home during COVID-19 were experiencing or
feeling about their work-life balance challenges and conflict. Employers’ well-being support
programs were either outdated, a one-size-fits-all schedule, and did not address the current
workplace changes during COVID-19, such as managing work-life balance demands in a work-
from-home environment. Women also found that their work-life balance conflicts manifested
their physical health and well-being challenges and simultaneously exasperated emotional
wellbeing struggles, such as stress, anxiety, exhaustion, burnout, and depression. Participants
reported that they needed to choose between taking time for self-care practices or “just push
through” to maintain some work-life balance. Women shared that their physical well-being
manifested in weight gain, poor eyesight, and COVID-19-related illnesses and cancer recovery
treatments. These physical ailments heightened their emotional wellbeing, affected by fatigue,
exhaustion, anxiety, depression, and burnout.
Despite stay-at-home orders due to COVID-19 in the community women lived in, some
women felt “compromised”and “at-risk,” when their manager required single employees with no
families at home to report to work, so coworkers with families at home could work from home.
Few participants said their organizations provided training and development support to help with
work-life balance when shifting to a work-from-home environment during COVID-19. The lack
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and limited amount of virtual training led to women’s emotional well-being associated with
work-life balance to feel disengaged, uncertain, and that the employer didn‘t care. Participants
expressed a noticeable absence of social connections with their peers at work when they
transitioned into virtual home offices during COVID-19. Some women associated relationships
at work with how they identified themselves (e.g., role), perceived value at work, networking
opportunities, advancement or development, and overall support and camaraderie.
Of particular interest is an emerging theme of boundaries, learning to advocate for
themselves, and not feeling guilty when responding to work or family demands with the
simplicity of just saying no. All 20 women emphasized that because work-life balance is
essential to them, they began to recognize the connection between having healthy boundaries and
how their interpretation of work-life balance became present during COVID-19. Interviewees
strongly agreed that work-life balance becomes a minor challenge when boundaries are current.
The literature reviewed in Chapter 2 did not address the boundaries as a paradigm associated
with women’s work-life balance during COVID-19.
Participants said they noticed a significant change in their workplace culture that alluded
to leaders lacking trust when offices shifted to a work-from-home environment. Boundaries once
present at the office no longer existed at remote office locations. Participants felt micromanaged
by managers scheduling accountability check-in meetings to determine if they were working at
home. Participants tried to diplomatically negotiate with their managers to establish boundaries
and eliminate unreasonable work demands such as absorbing extra work due to employee
shortages. Also, interviewees used boundaries to gain time back into their day, when commuting
to offices no longer existed. Consequentially, employers took advantage of the spare time and
filled work calendars with meetings throughout the day, leaving no time built in for scheduled
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breaks or lunch. When participants asked for a change in their workplace culture, one
interviewee, LSG, shared her supervisor said, “You’re an adult. Figure it out on your own.”
Other interviewees, like SEW, continued to have her request for boundaries ignored. Her
manager scheduled meetings before the workday began and throughout the weekend. Although
the interviewee’s workplace culture and work-from-home environment for these participants did
not create boundaries, when interviewees reached their emotional and physical capacity, they
became the agents of change.
Participants empowered themselves to create boundaries, learn to say no, and become
self-advocates to express their personal needs associated with the individual and environmental
factors in their ecosystem. For many, it was a way for women to regain control and establish an
equitable balance when simultaneously managing work, life, and family demands during
COVID-19.
Finally, all 20 participants were asked, “What do you wish you had done differently to
manage your work-life balance during COVID-19?” Several ideas and concepts emerged from
the participants when answering this interview question. The lessons learned from their
responses helped ground the following three proposed solutions to the financial services industry
(e.g., companies, leadership teams, employees).
Recommendations for Practice
There are three recommendations identified in the following section to address key
findings. These recommendations are not turn-key solutions, but a conceptual framework of any
size organization can use to manage and customize their workforce’s individual work-life
balance needs. Although this study focused on women’s lived experiences of work-life balance
during COVID-19, work-life balance challenges are present in women’s lives, not just when
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environmental factors such as COVID-19 or changes in the workplace location (e.g., work from
home). Also, work-life balance challenges are not just one gender’s issue over the other. It is a
human capital issue in the workplace. Work-life balance addresses an individual’s basic needs of
work, home, family, and themselves. When organizations build a strong workplace culture that is
inclusive and equitable for all individuals employed regardless of tenure, role, or gender, it
creates a path to building a solid organization and a healthy workplace environment.
Recommendation 1: Work-Life Balance Integration Policies in the Workplace.
The first recommended solution to address work-life balance for employees is to develop
equity and inclusion programs that address work-life balance integration policies in the
workplace. When supported by the organization’s mission, work-life balance integration
dissolves the have or have not mentality between tenured staff and ranking positions throughout
the organization’s structure. At a systems level, an organization’s diversity, equity, and inclusion
(DEI) policies and processes must address and incorporate robust work-life integration strategies
for the entire workforce (i.e., part-time or full-time, working remote, or office locations)
regardless of tenure or position (Molefi et al., 2021). When implementing equitable and inclusive
benefits, best practices include flexible work schedules, family, child, or eldercare
reimbursement, extended family leave considerations beyond legal requirements, and PTO
accommodations for religious practices and disability care (Molefi et al., 2021; Wei & Villwock,
2021). Work design plans to develop and implement work-life integration policies and processes
must inspire organizational leaders to think outside the traditional workplace norms and benefit
offerings and do so with their employees’ footprints and lived work-life balance challenges and
experiences in mind. Work design plans need to include personal goals (i.e., establish and solicit
employee input) and professional goals (i.e., provide clear expectations on performance
111
expectations and strategic plans). Both individual and professional goals must support one
another’s objectives and be conducive to success (Bailyn, 2011; Gade & Yeo, 2019).
Organizations that incorporate a work-life integration policy must be strategic and prescriptive to
establish healthy boundaries between the employee-employer and prevent unintentional
consequences such as increasing work-life conflict for employees (Eddleston & Mulki, 2017).
The work-life integration policy and processes are a living document that mirrors the
individual and external environmental factors in each person’s ecosystem (e.g., self, home,
community, family, work, cultural and social norms) regardless of the presence or absence of a
pandemic. Organizational leaders and employees must honor and live into the agreed-upon
work-life integration policy and review it every quarter to address changes in the employee’s
home, family, or work demands that may affect their work-life balance.
Organizations employing women in the financial services industry will benefit from
implementing work-life integration practices into its workplace culture. Such practices will help
negate any unconscious gender role biases.
Recommendation 2: Provide Individualized Wellbeing Programs to Help Employees
Manage Work-Life Balance Challenges While Working From Home
The second recommendation addressing work-life balance for employees is for
organizations to provide individualized well-being programs to help employees manage work-
life balance challenges while working from home (or in the office). Equitable and inclusive well-
being programs need to consider employers’ input from individuals at work to identify how to
best support their needs when work or life demands overlap or simultaneously occur (Autin et
al., 2020). Organizations must adapt their culture by creating new workplace expectations to
support employees transitioning to a remote work environment (Autin et al., 2020; Nayal et al.,
112
2022). New norms such as managing work-life conflict at home must be established and
communicated to avoid confusion (Nayal et al., 2022). Organizations implementing wellbeing
programs need to consider how they will support individual needs when working from home to
address any work-life challenges employees may experience (Lulli et al., 2021).
Further, wellbeing programs need to provide coping strategies for employees working in
unsafe home environments, and organizations must deliver the flexible time required for
employees attending wellbeing programs (Lulli et al., 2021). Organizational leaders must help
create a culture of boundaries and a culture of resilience to maintain employee morale, well-
being, and motivation for employees working from home (Naval et al., 2022). Active and regular
communication will minimize employees’ emotional and psychological safety and well-being
when working from home and always safeguard employees’ well-being (Naval et al., 2022).
The recommendation addresses an individual’s wellbeing when managing work-life
balance challenges while working from home and can be supported by collaborative efforts
between human resources and the DEI teams. An individualized well-being program from a
design perspective removes a general one-size-fits-all approach, such as all employees receiving
the same well-being benefits, regardless of needs (Caperchione et al., 2016). Instead, the
organization provides access to wellbeing resources to its employees that address and focus on
their dynamic emotional, financial, social, community, and career, physical wellbeing factors in
an individual’s ecosystem. Individual well-being programs have a continuous loop to ensure
work-life balance challenges are addressed to recalibrate individuals’ work-life balance, as
change occurs over time in the employee’s ecosystem. Team leaders can ensure sensitive and
confidential information shared by the employee remains anonymous to the organization, and
measures to monitor and support the employee’s wellbeing are not intrusive or overbearing.
113
Well-being programs create and ensure the safety of each receiving well-being support for
employees experiencing emotional, physical, or psychological safety concerns at their workplace
location. To ensure the effectiveness of the program, and motivate employees to use the
wellbeing programs, the organization must seek to understand each employee’s individual needs
and wants to be associated with areas seeking to improve on when working from home (e.g.,
reduce stress and feelings of isolation, improve time or money management, establish
boundaries). Individual well-being programs have a continuous loop built to ensure work-life
balance challenges are addressed to recalibrate individuals’ work-life balance as change occurs
over time in the employee’s ecosystem. All individuals receive access to wellbeing programs as
a paid benefit and in the preferred delivery method (e.g., virtual, in-person). Organizations
employing women in the financial services industry will benefit from providing individualized
wellbeing programs to help employees manage work-life balance demands while working from
home.
Recommendation 3: Develop Work-Life Coaching and Training Programs for
Organizational Leadership Teams to Provide Employees with Equitable Social Support,
Knowledge Capacity, and Resources While Working in a Home Environment
The third recommendation addressing work-life balance for employees is to develop
work-life coaching programs for organizational leadership teams to provide employees with
equitable social support, knowledge capacity, and resources while working in a home
environment. Organizations need to recognize work-from-home challenges their employees are
experiencing (e.g., workspace resources, family dynamics at home, access to technology or the
internet) before implementing organization or social support interventions that will be
meaningful to everyone (Wang et al., 2021). Organizations must promote new skill sets through
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training initiatives (e.g., technology) to remain relevant and achieve performance outcomes in a
work-from-home environment (Hafermalz & Riemer, 2020; Naval et al., 2022). Organizations
need to understand the employee’s work environment at home, coping skills related to social
engagement and feeling isolated, and resources required such as home office supplies and
workspace when creating organizational and social support strategies for remote work (Donati et
al., 2021). Organizations can use a generational archetype while designing training programs as a
guide to creating an organizational culture that is led by inclusive leaders to support the cognitive
and social-class diversity of its employee population at work (Howe & Strauss, 1992; Usher,
2018). Leadership’s regular communication efforts with employees working from home
strengthen employees’ social bonds among work colleagues and reduce emotional exhaustion
and work-related stress (Gillet et al., 2022).
The recommendation of developing work-life coaching and training programs for
leadership teams managing employees working from home addresses the knowledge, social
support, resources, and performance evaluation gaps at the organization while addressing
employees’ work-life balance needs when working from home. Before developing work-life
balance coaching and training programs, the design team will assess the organization’s
leadership team for prior knowledge by having leaders assess their own prior knowledge and
look for patterns of responses in former surveys taken by employees. Also, organizations need to
assess employees’ work-life needs to ensure the coaching and training programs include targeted
resources to cultivate work-life balance and to help them perform their job while working in a
home environment.
Thereafter, several areas will focus on the organization’s providing knowledge, social
support, resources, and performance evaluations for employees working from home. First, the
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work-life balance coaching and training program will support the organization’s leadership
team’s knowledge capacity gap in the delivery of new skill sets or support resources (e.g.,
mentoring and career development) employees need when working at home. Additionally, the
work-life balance coaching and training program for leadership teams will provide knowledge on
employees’ learning preferences (e.g., virtual, on-demand, or classroom learning) when an
employee’s accessibility and disability concerns are present. Next, work-life coaching and
training initiatives for an organization’s leadership team will enhance social support (e.g.,
mentoring, social connections with peers) employees need to help improve their work-life
balance by increasing their emotional and physical wellbeing. For example, leaders and
managers can encourage accountability buddy partners to mentor and stay socially connected for
peer-to-peer engagement. Reducing employees’ anxiety and depression associated with
wellbeing will help them achieve their performance-based expectations when working from
home while decreasing feelings of social isolation at work.
Work-life balance coaching and training programs will include guidelines on how to
support an employee’s work-life balance intrinsic needs with equitable resources for employees
to use in their work-from-home environment to achieve optimal performance-based outcomes
and goals at work. Leadership will be coached on how to evaluate and determine guidelines to
establish equitable resources and monetary investments to install technology or internet use,
office supplies, and equipment (e.g., desk, chair, laptop) for employee’s work environment at
home. Because employee workspace at home for each individual will vary, organizational
leaders will learn how to analyze and assess any space restrictions at home that can inhibit
performance or morale and offer alternative accommodations that do not conflict with other
work-life conflicts and challenges, such as home or family demands. Last, the recommendation
116
for work-life balance coaching and training programs for organizational leadership teams
addresses performance evaluation gaps. Leadership will learn how to align new performance
evaluation standards without using the measurement of time (e.g., transition from the number of
required hours to actual hours needed to accomplish the same goal).
The program will support both the employee’s work-life balance needs without
compromising their psychological safety (e.g., fear of losing their job due to the perceived
amount of time needed to work each day) and the ability of the organization to achieve its
performance-based goals. Organizations in the financial services industry will directly benefit
from investing in the development of work-life coaching and training programs for leadership to
support employees working from home.
Limitations and Delimitations
The research is subject to a few limitations. First, a purposeful sample size of 20
participants representative of the target population of the study may not reflect the general
population (i.e., women), who may hold vastly different experiences or perceptions due to
factors such as social class identities not represented in the study, employment in other
industries, or geographic locations in the United States or abroad. Another limitation to this study
is prior literature is relatively limited and newly emerging. Therefore, it may present an
opportunity to identify new gaps and the need to develop the area of study focusing on the long-
term implications of challenges and changes women experienced while navigating work-life
balance during the COVID-19 pandemic.
There are two delimitations in this research study. First, the sample population was
gender-specific and did not include men’s work-life balance perspectives and experiences during
COVID-19. Also, this study did not include c-suite or higher decision-makers to compare work-
117
life balance experiences with employees in nonexecutive roles at companies in the financial
services industry during the pandemic.
Implications for Future Research
Several future research considerations can build and expand on the literature used and
findings reported in this research study. Several questions remain in the following implications
for future research:
1. To what extent do organizations place value on work-life balance for employees in
their workforce?
2. How do organizational leaders help women embrace their work-life balance without
women sacrificing one realm over the other? How do leaders help employees create
boundaries and provide equitable support for women to prevent their work-life
balance phenomenon from unraveling and falling apart?
3. How do decision-makers bridge equity across the entire organization and create a
pathway for women’s work-life balance to lead to positive emotional, physical, and
psychological wellbeing outcomes?
First, this study revealed women’s work-life balance challenges, in part, are systemic
from organizations directly or indirectly using pre-pandemic guidelines to manage time spent at
work and access to support resources (e.g., PTO, training and development, wellbeing programs)
expectations. Further, participants, when left to establish boundaries on their own, managed their
work-life balance demands on an as-needed basis to align with the individual and external
environmental factors residing in their ecosystem. Future research can explore work-life balance
experiences between women employed in the financial services industry and their c-suite or
118
higher contemporaries to identify differences in each person’s ecosystem that contribute to or
prohibit equitable access to organizational resources and support.
Next, findings revealed when work-life balance is absent or imbalanced, the demise of
women’s emotional and physical wellbeing leads to burnout, exhaustion, anxiety, stress, and
fatigue that affect each factor in their ecosystem. Since the inception of the COVID-19
pandemic, women employed in the financial services industry have experienced an increase of
stress-related emotional strain of upwards of 44% that has incrementally impacted feelings of
burnout, fatigue, and pure exhaustion—emotionally detached at work (Burns et al., 2021;
Jackson, 2022; Ockerman, 2022). Further, 9% of women feel they are thriving at work, and 19%
report being miserable. Almost 60% have hit their capacity limits of simultaneously navigating
work-life balance demands during the pandemic and find themselves emotionally detached at
work (Burns et al., 2021; Jackson, 2022; Ockerman, 2022). Future research can explore how
organizations value work-life balance and the correlation between employees’ behavioral and
performance-based outcomes at work. In doing so, future findings can build a robust case for an
organization’s mission to incorporate work-life balance initiatives that meet the intrinsic needs of
its generational employee population and extrinsic motivation and incentives that drive employee
behaviors and performance-based outcomes.
Lastly, findings revealed the disruption of COVID-19 created challenges for
organizations and women’s work-life balance. Women reported work-life balance varied and
depended on their current life cycle stage and the ever-changing factors in their ecosystem. The
dynamic changes that ebb and flow in each person’s interconnected layer in their ecosystem
drove the intrinsic needs associated with women’s work-life balance and the reactive approach
organizations ensured by either supporting women’s work-life balance needs or overlooking
119
extrinsic opportunities to help women stabilize their work-life balance. Using the conceptual
framework of boundary theory, future researchers can understand leadership styles to manage
and support the generational cohorts’ work-life balance needs to model behaviors related to
work-life merge and equitable work-life integration models in its organization’s culture.
Conclusion
This research study aimed to learn more about women’s lived experiences related to
work-life balance during the COVID-19 pandemic to offer recommendations to the financial
services industry. The study seeks to understand women’s lived experiences related to work-life
balance during the pandemic, individual and environmental factors that influence work-life
balance challenges for women, and support to foster work-life balance at home and work. The
aim is to understand how women can feel empowered when navigating work-life challenges
during the pandemic and offer recommendations for the financial services industry.
As organizations in the financial services industry shifted from pre-pandemic
organizational structures, policies, and processes, leadership continues to grapple with governing
rules and regulations imposing COVID-19 guidelines. In the organization’s culture remains an
unsettled acceptance that work from home environments for some of its workforce is here to
stay. It is uncertain what the short- or long-term ramifications for women working from home on
their emotional, physical, and psychological wellbeing, and for the organization’s employing
them such as performance or culture, and employee morale and retention. Work-life balance
conflict for women employed in the financial services industry will continue to ensue and evolve
over time when change occurs to one’s individual (e.g., community, home, family, schools,
childcare) or external environmental (work environment, COVID-19, gender, employer, or
gender, social and cultural norms). Through self-discovery and reflection, participants strongly
120
acknowledged they are committed to all realms of responsibility and demands set forth by work,
family, and themselves and should not have to sacrifice one over the other, especially
themselves.
Regardless of social class identity, work-life balance is subjective and is as unique as
everyone employed in the workforce. There is no one-size-fits or streamlined approach to work-
life balance, yet participants reported otherwise when seeking work-life balance support at their
organizations. Until work-life balance is emulated by leaders and embedded into the
organization’s culture, work-life balance for the female workforce will be in conflict or
nonexistent. We are all leaders of our domain (e.g., work, family, life, self). Organizations fail to
recognize the one domain they cannot control is those that reside in the employee’s home and
intrinsic needs. Participants expressed a call to action for organizations and their leadership
teams in the financial services industry: to resolve and dissipate work-life conflict and find
harmonious work-life balance for women employed in the financial services industry. Women
need to be the change agent and guide leadership to support and champion individual work-life
balance initiatives for all engaged in the workplace. When organizations lead with their
employment-population, success for both the company’s performance-based goal and
individual’s intrinsic need outcomes will take form.
121
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Appendix: Interview Protocol
Introduction to the Interview:
Hello_______. My name is Karolyn Rubin. Thank you for agreeing to participate in my study of
research and for talking with me today. The purpose of the study is to understand the
perspectives and experiences of women who have experienced workplace disruptions due to
COVID 19. Financial services industry, for the purpose of this study, is defined as insurance,
banking, wealth management or credit and collection companies which provide a product or
service to the consumer public. Your identity will remain anonymous, and all answers and
information shared will be kept confidential and only be used for the purpose of this study.
I will be taking notes and recording today’s interview to ensure I capture your perspective
accurately and will be the only person reviewing the notes and recording of our conversation. If
at any time you want me to stop the recording, we can do so. Do I have your permission to take
notes and record our conversation? At the end of our interview, I will be happy to answer any
question you have and let you know of the next steps. Does this sound okay to you?
Interview Question Research
Question
Addressed
Conceptual Framework
Addressed
What year were you born? N/A Individual
How would you describe your
race/ethnicity?
N/A Individual
What is your marital status? N/A Individual
Microsystem
What is your family status (i.e., children
living at home, no children living at
home, elder care at home)?
N/A Microsystem
What is your background in the financial
services industry?
N/A Exosystem
What does it feel like to be a woman
employed in the financial services
industry?
R1 Individual
Exosystem
141
During COVID-19, how did it feel to shift
from working in an office environment to
a work from home environment?
R1 Exosystem
What adjustments did you make to
accommodate working from home?
R1 Microsystem
Exosystem
How does working from home compare to
working in an office environment?
R1 Microsystem
Exosystem
How would you describe ways that you
interacted with your work colleagues
while in a work from home environment?
R2
Exosystem
What were your career goals prior to
COVID-19?
R2 Exosystem
To what extent if any has your career
goals changed during the pandemic?
R2 Exosystem
How did your manager/supervisor provide
support to you in achieving your career
goals during the pandemic?
R2 Exosystem
How would you define gender equity at
work?
R2 Exosystem
How did you balance work and home
responsibilities when working from home
during the pandemic?
R3 Microsystem
How would you define stress while
working from home during the pandemic?
R3 Exosystem
What wellbeing resources if any does
your company provide you during the
pandemic?
R3 Exosystem
During the pandemic, what benefits did
you experience when working from
home?
R3 Exosystem
How do you feel about working in an
office environment again?
R3 Individual
Macrosystem
Conclusion to the Interview:
Thank you______, for speaking with me today and participating in my research study. Before we
leave today’s interview, do you have any questions for me? (if answer is no). Okay, again thank
you and have a nice day (if answer is yes, stay engaged and address participant’s question).
Abstract (if available)
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Asset Metadata
Creator
Rubin, Karolyn Ilene
(author)
Core Title
The great balancing act: women seeking work-life balance during COVID-19
School
Rossier School of Education
Degree
Doctor of Education
Degree Program
Organizational Change and Leadership (On Line)
Degree Conferral Date
2022-08
Publication Date
08/03/2022
Defense Date
07/08/2022
Publisher
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committee chair
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)
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Tags
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psychological safety
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