To be fair, there are some positives from the initiatives aimed at bringing more women into the workforce. A report by LONGHOUSE Consulting showed that 39% of the companies surveyed employed women in CXO positions. This overshot the global average of 32%.
In an exclusive interaction with ETHRWorld, Sarita Tripathi, CHRO, Finolex Industries, talks about some concerns and challenges in the manufacturing sector, the pros and cons of the industry at large and Finolex in particular, some hiring trends and practices, and retention strategies that make employees leave or stay at an organisation.
As part of its commitment towards gender diversity, MG Motor India presently runs the ‘Drive Her Back’ initiative, an employment program that aims to empower experienced and qualified women to re-enter the workforce. The brand launched the 'Drive Her Back' campaign in 2019 to provide women with inclusive and equal professional opportunities across various verticals of the company.
Research demonstrates the positive correlation between gender diversity at the leadership and improved financial performance. Women bring different experiences and skillsets to the table, fostering more creative problem-solving, strategic planning and innovative thinking. Showing a commitment to gender diversity enhances an organisation's reputation as progressive and socially responsible, attracting top talent and earning customer trust.
Women are also getting a smaller chunk of the promotion budget. Of the entire promotion budget that companies have, women are paid Rs 88 for every Rs 100 that men are paid, according to data from global professional services firm Aon, shared exclusively with ET. This indicates that women are not getting higher-paying jobs or are getting fewer high-paying roles.
Despite their substantial contributions, women often find themselves relegated to supporting roles or excluded from crucial decision-making positions. This lack of representation not only perpetuates gender biases but also impedes the industry's capacity to innovate, compete, and flourish in an increasingly competitive market.
In an exclusive interview with ETHRWorld, Amrita Padda, Chief People Officer, Airtel, shared various initiatives that have helped Airtel increase its gender diversity from just about 10 per cent to 16.5 per cent in a year and a half? Among other things, Padda talked about staking a claim, de-averaging the targets, widening the talent pool, taking jobs to women’s home and setting the necessary infrastructure.
Only 4% of executive directors at Nifty 50 are women, and across NSE-listed companies that figure drops to 3%. CEOs and directors attribute this to multiple factors: Lack of enabling policies to retain highpotential women in the workforce as well as conscious and unconscious biases that persist. Companies need to address the issue of attrition and many women leaving mid-career and during key life stages.
Overall, Allcargo Group along with GATI in India employs over 10,600 people. Out of this number, about 4,600 are on-roll employees and about 6,000 are off-roll or contractual employees.
This study engaged with about 3000 women pan-India to understand and evaluate their insights on representation and engagement of women workforce in modern IT teams. It unveiled critical insights, showcasing a colossal difference between perception and reality, and highlighting the gaps in gender stereotyping during interviews to a perceived absence of clear pathways for career advancement into leadership roles.
In a trend catching up fast, India's top law firms are playing fair in gender diversity and promoting an increasing number of high-potential women lawyers to partner level and are going extra mile to retain them, industry insiders said.
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