Returning to the Financial Services Workforce after an Extended Child-Rearing Leave: A Descriptive Study Regarding the Influence of Mentorship on Feelings of Identity and Self-Efficacy

Abstract

Objectives: To explore the experiences of women in the United States that have returned to the financial services workforce after an extended child-rearing leave and their descriptions of the transition back to the workforce, specifically regarding feelings of self-efficacy and identity and the influence of mentorship.

Study design/setting: This study utilized a qualitative descriptive research methodology to capture descriptions through semi-structured interviews and a focus group. Data were gathered by means of extensive one-on-one interviews with women throughout the country and an extensive focus group discussion. All study participants were currently working in the financial services sector after a minimum one-year absence due to child-rearing.

Principal findings: The findings imply that multiple factors influence the experiences of women transitioning back into the workforce summarized by five primary themes: 1) challenges, pressure and feelings of identity and self-efficacy, 2) merging personal and professional identities, 3) reinventing professional competencies and self-efficacy, 4) organizational intent to provide connection, goal-setting and path development through mentorship and 5) the unique value of mothers in a historically male-dominated industry and the importance of mentorship to support them.

Conclusions: The findings suggest that women returning to the financial services industry after an extended child-rearing find mentorship beneficial by: differentiating and/or merging professional and personal identities, combating imposter syndrome, balancing pressure from both home and work, highlighting value despite resume gap and minimizing self-doubt, heightening sense of belongingness in a historically male-dominated industry and developing a strategic career and development path to meet desired professional goals.