Fringe-Benefits and Work-Life Balance as Interventions in Black Women's Wealth Disparities

Jan 31, 2023
  • Description

Increasing Black women's earnings is not enough to amend their economic vulnerabilities. The difficulty of balancing one's work life and personal or family life complicates the challenge of wealth disparities facing Black women. Using the mixed-methods approach of an online questionnaire, individual interviews, and data analysis, Taylor and colleagues find that Black women stand to benefit when they, their partners/spouses, and their extended family members all have access to three core areas of fringe benefits and policies: (1) universal work-life balance supports, such as flexible work schedules, remote work options, paid time off, mental health days, and family medical leave; (2) holistic dependent care resources and family discounts; and (3) legacy benefits such as employee-share ownership, tuition reimbursement, pension, credit union access, financial/retirement counseling, and legal counseling. They conclude employers could play a progressive role in supporting Black women's efforts to strike a balance between work and home life and close the racial wealth gap.