Ellevest CEO champions remote work, advances gender equality
NEW YORK, UNITED STATES — As many companies push for a return to office (RTO), Sallie Krawcheck, CEO of Ellevest, stands firm in her commitment to remote work.
Ellevest, a virtual investment and financial literacy platform designed for women, has embraced a fully remote work model since the pandemic began.
Krawcheck recently shared her insights on Fortune and why this decision continues to benefit both the company and its employees, particularly women.
Remote work: A catalyst for gender equality
With 85% of the company’s workforce being female, the flexible policy is seen as a crucial step towards advancing gender equality in the workplace.
“Ellevest is sort of the inverse of Wall Street in terms of the makeup of our company,” Krawcheck explained.
“Men are more likely to move for a job. And particularly for women who have kids, [it’s valuable to] keep the kids at school in whatever city they’re in.”
Data from FlexJobs revealed that 68% of women prefer remote-only schedules compared to 57% of men.
Virtual environments can also reduce women’s exposure to workplace harm, according to a 2022 McKinsey study.
Balancing flexibility and productivity in remote work
While Krawcheck acknowledges that remote work has its drawbacks, such as potentially hindering creativity, she remains confident in its overall benefits.
Krawcheck said that Ellevest has experienced significant gains, such as recruiting top talent nationwide, leading to enhanced overall effectiveness.
“We were hiring people from all over the country without really asking them where they were from. Our productivity was really strong, and we found that we weren’t really losing anything in culture,” she stated.
As the debate on the future of work continues, Ellevest’s stance serves as a case study for how remote work policies can foster gender equality and drive business success simultaneously.
