Challenges for Women in the Workforce
Despite efforts to celebrate women’s achievements, the reality for women in the workforce remains tough, especially as DEI (diversity, equity and inclusion) programs face setbacks.
Recent rollbacks of DEI programs in the U.S. threaten women’s representation, leading to possible identity erasure.
The global impact of these changes affects the broader corporate workforce, as women’s exclusion has worldwide consequences.
Global Impact of DEI and Women’s Representation
DEI programs provide initial entry but don’t significantly boost women into leadership roles.
In India, women make up 35.9% of the workforce but hold only 12.7% of leadership roles in 2024.
The exclusion of women from leadership roles can be seen as a result of both systemic and structural barriers that continue to hinder real progress.
Legal Mandates and Benefits of Women in Leadership
Legal mandates like the Companies Act 2013 and SEBI regulations have increased female participation in senior roles.
Companies with women in leadership roles tend to perform better, with benefits in areas such as corporate governance, risk management, and strategic decision-making.
The presence of women in leadership enhances the talent pool, broadens professional networks, and fosters a participatory leadership style that drives better corporate outcomes.
True Change Requires Real Power and Parity
Tokenism in corporate diversity initiatives is insufficient for long-term impact.
True change requires that women hold genuine power and responsibilities, particularly in the C-Suite/KMPs (top-level executives in an organisation and Key Managerial Personnel)
Women should not just fill quotas but must be allowed to shape corporate strategies, oversee committees, and make critical decisions.
Gender pay parity is a crucial indicator of real progress, reflecting the true value women bring to the workforce and ensuring their leadership roles are sustainable and impactful.
Achieving real change means recognizing women as equal contributors, not just as a measure of diversity or political gesture.
Their contributions must be meaningful and help improve corporate governance, stakeholder relations, and overall business success.
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