Retaining and developing women leaders: Encouraging more women to enter leadership roles
The skills gap faced by women in the workforce, especially in technology and leadership roles, remains a critical challenge for Global Capability Centers. Despite significant advances in promoting diversity and inclusion, many organisations still struggle to unlock the full potential of women in leadership positions.
As we work towards building a more inclusive and equitable workforce, it is essential to focus on the persistent barriers that prevent women from assuming leadership roles. These challenges are not just about skills but also about creating an environment where women feel confident, supported, and encouraged to lead.
Understanding why the skills gap persists
While great strides have been made to empower women to enter the workforce, the gender skills gap remains a pressing issue, particularly in leadership and technology roles. Common barriers that hinder women’s career progression include a lack of confidence, limited networking opportunities, and the challenge of returning to work after maternity leave.
It is clear that addressing this gap requires more than offering generic training programs. Organisations must create a supportive culture that encourages women to take on leadership roles and equips them with both technical and soft skills. Women may have strong technical abilities but often hesitate to assert themselves in decision-making processes. Building confidence is as crucial as technical upskilling to overcome these barriers.
Bridging the gap through targeted development
At MassMutual India, we conduct an annual analysis to assess the training needs within teams, ensuring that development opportunities are tailored to address specific skills gaps. This targeted approach focuses not only on technical training but also on soft skills such as communication, leadership, and networking.
Our 'Evolve Her' leadership development program is designed to empower women managers to step up in their careers. This initiative includes mentorship from senior leaders, peer learning opportunities, and executive coaching. The impact of 'Evolve Her' has been profound, with many women who once doubted their leadership abilities now thriving in senior roles.
Supporting women returning from maternity leave
Returning to work after maternity leave is one of the most significant challenges many women face. To support their transition back into the workforce, we’ve implemented a buddy system where returning mothers are paired with a mentor. This system helps them reintegrate smoothly, providing the guidance and confidence they need to catch up on what they missed during their leave.
Offering flexibility and ongoing support is crucial to retaining women in the workforce. It’s not just about providing a job; it’s about making sure they feel empowered and valued every step of the way.
Measuring success: Key metrics
At MassMutual India, we believe that retention rates and representation in leadership positions are key indicators of success in closing the skills gap. Today, women make up 41% of our total workforce, with 40% of leadership roles held by women—well above industry averages. Our overall attrition rate is just 9%, and it’s even lower among women, showing that our initiatives are having a lasting impact.
Our goal is not just to meet diversity targets but to create a robust pipeline of future female leaders who can drive the business forward.
Overcoming cultural and operational challenges
Despite progress, there are still cultural and operational challenges when it comes to attracting women to specific roles, especially those requiring late-night shifts or frequent travel. However, focused recruitment efforts, clear career pathways, and a strong culture of diversity, equity, and inclusion (DE&I) have helped us achieve 40% female representation even in these departments.
We actively encourage leaders within the organisation to act as allies. This means not only supporting their female colleagues but also actively mentoring and promoting them. It’s about fostering a workplace culture where everyone feels like they belong.
Building confidence: Encouraging women to lead
One of the most critical areas where organisations can make a difference is in building women’s confidence to apply for leadership roles. Many women hesitate to apply for senior positions, even when fully qualified, because they feel they need to meet every criterion.
At MassMutual India, we are working to build confidence through mentorship programs and by creating a safe environment where women feel encouraged to take risks. Our approach goes beyond traditional training programs—it's about shifting mindsets and fostering a cultural transformation that empowers women to recognize their potential and step into leadership roles.
A shared responsibility for change
Ultimately, addressing the skills gap for women in the workplace is not just an organisational commitment—it’s a shared responsibility. By implementing targeted development programs, offering robust support systems for working mothers, and fostering an inclusive workplace culture, organisations can create environments where women can thrive.
Investing in women is not just a moral responsibility, it’s a business imperative. When women succeed, the entire organisation benefits, and we’ve seen the positive effects of this firsthand. By continuing this journey of empowerment, we can build a more equitable and prosperous future for all.