The programs attract corporate sponsors because they provide an important pipeline for recruiting talent. This could become increasingly important to corporations as the Baby Boomers retire and companies face a shortage of seasoned talent, say business educators.
And the market is wide open. A study of high-achieving women conducted by the Center for Work-Life Policy and the National Parenting Association in 2001 found that two-thirds of women who had left their careers would like to go back to work.
“A lot of women want to come back to work and the path is not very clear,” Karen Sumberg, Assistant VP of Communications and Projects at the Center for Work-Life Policy in New York City.
Tuck’s Sundaram says their program fills an important need.
“It is well known that many talented women (and some men) with MBAs put their careers on hold for family reasons. Often, they leave behind high-potential jobs,” Sundaram said. “Yet, when they seek to get back in the game, avenues for reentry are limited.”
Sumberg says university programs aimed at professional women re-entering the workforce are a step in the right direction.
“We think these programs are really great because they address some of unforeseen things that companies themselves might not address,” Sumberg says. “They also help women rebuild their network.”
And there’s another extremely important benefit.
“It’s not as much learning what the innovations are in your field, but it’s more about the confidence building that ‘you can do this,’” Sumberg says. “Sometimes after being at home you need to reminded of what you used to do and that you can do it again.”
The results look good so far. About two-thirds of the participants from Tuck’s charter class of 2006 have found positions commensurate with their skills and aspirations, Sundaram said. The 2007 class just graduated in December, so they are in the midst of job hunting.
Allan, who attended the first class of Back in Business in 2006, is thrilled with her new job. She is the interim chief financial officer of Museum of Contemporary Art (MOCA) in Los Angeles. She also had an opportunity to go back into large banking but says she wanted to gain different experience.
