The Ellevest Dictionary is a series where we dig into popular money trends and parse them out — what they are, how they came to be, and what it can all mean for you. 

You’ve seen the commercials. Every year, as we near Mother’s Day, they start. Often drenched in pastel hues, these commercials celebrate and venerate the mother. Companies put out touching or funny tributes to working moms, stay-at-home moms, moms who cook and clean and also go to a 9-to-5. 

You’d think, based on these commercials, that these companies must have stellar parental leave policies, exceptional child care resources, and flexible work schedules that let them work from home when they need to. 

You’d think. But for some number of them, you’d be thinking wrong. That’s something we call “momwashing.”

What is “momwashing”?

Momwashing is exactly what you think it is. Like “greenwashing” or “pinkwashing,” momwashing is about corporations producing grand but insincere marketing campaigns for progressive causes — but not actually implementing those values in their work. 

In this case, we’re talking about companies that are eager to post saccharine mom content every Mother's Day — but don’t provide their own employees with all the things we discussed above. Like a decent parental leave policy. Or WFH flexibility. Or child care resources. 

Like the way one company repeatedly showed up on Working Mother’s 100 best companies list — while in the midst of a $250 million lawsuit that alleged they denied promotions ‌and wages to pregnant women because they were women. 

Or the way many companies who cash in on Mother’s Day marketing campaigns are asking employees to return to the office — even though the new WFH reality has made it so more moms are working than ever before. 

In the succinct words of our very own CEO Sallie Krawcheck, momwashing is “when you pay lip service while not supporting moms at work.” 

The Ellevest take  

Well, you already know we hate it. Really, really, hate it. It’s part of the reason we built Ellevest in the first place. Because when women have more money, they have more power to change the status quo in boardrooms — as well as, ultimately, government offices. 

It’s also why we’re big, big fans of gender-lens investing, which is when we intentionally consider gender data, analysis, and impact to uncover risks and opportunities. It means asking how an investment might impact women, whether it supports, advances, or worsens gender balance, diversity, and inclusivity — and then using the findings in making investment decisions. 

It means investing toward companies that have women in the C-suite, because research shows that companies with women on leadership teams are not only better for everyone — but they also outperform those led by men. 

What we can do about it 

Structural change is slow. Too slow. Which means, as individuals, we have to try to move the needle as much as we can in our own way. Creating equitable, women-friendly workplaces starts with putting women in leadership roles, which is going to take some time — in 2023, women made up only 10.4% of Fortune 500 CEOs. (But, at least, we finally outnumber men named John.) 

How else do we move the needle? Here are some tips: 

Vote for women (and men) who support federal funding of child care. The expiration of pandemic-era child care funding initiatives worsened a child care crisis for the country. It has never been more crucial to support — and vote for — progressive child care policies and paid family leave. 

Advocate for changes in your own workplace. Even if you’re not a parent — and never plan to be — advocating for fair pay, parental leave, flexible WFH schedules, and employer-provided child care in your own workplace can make a massive difference. And it makes the workplace better for everyone.

Sometimes, all it takes is asking for it, because it’s never occurred to any of the people (usually, men) at the top that you may want it. You can also negotiate these kinds of agreements in your contract, which helps normalize it for the next person in your role. 

Invest your money with impact. At Ellevest, we offer the option to invest your money with impact — through gender-lens investing — for both our automated investing and Wealth Management clients. 

Hire moms and/or older women. For those of you in hiring positions, don’t overlook the resumes of older women, even if they seem “overqualified” for the job. Some women decide to take on less demanding roles after they have children — and that’s OK!

No more momwashing. Let’s create a society that doesn’t just love moms, but supports them, too. Because what is love if it’s not expressed through action?

Want support from an all-women team that understands your needs? Book a complimentary 15-minute call with an Ellevest financial planner. 

Disclosures