News: India outperforms world in leadership with 50% HR directors & 40% CFOs as women: Survey


India outperforms world in leadership with 50% HR directors & 40% CFOs as women: Survey

Currently, women hold 12% of board seats in India. The report underscores the importance of gender diversity in C-suite positions, revealing that 30% of such roles actively require female professionals to promote workplace equality.
India outperforms world in leadership with 50% HR directors & 40% CFOs as women: Survey

The pervasive issue of women's underrepresentation in leadership roles persists across industries worldwide, despite strides made in gender equality initiatives. Women still encounter substantial barriers to reaching leadership positions. Notably, in India, 39% of companies have women occupying CXO positions, surpassing the global average of 32%.

According to LONGHOUSE consulting report titled The State of Women Leadership Hiring in India indicated that 98% of Indian businesses have at least one woman in senior management roles, exceeding the global average of 90%. 

Additionally, 40% of Chief Financial Officer (CFO) positions and 50% of HR Director positions in India are currently held by women, signalling a significant departure from traditional norms and stereotypes. 

The historical trend indicates a noteworthy increase of 2% in women's representation on executive boards year-on-year in 2023. Presently, women occupy 12% of the board seats in India. The report highlights the significance of gender diversity in C-suite roles, indicating that 30% of these positions actively seek female professionals to foster workplace parity. 

Encouragingly, 49% of companies are proactively nurturing an inclusive environment through mentoring and coaching programs aimed at enhancing women's skills. Despite these positive initiatives, the proportion of women in senior-level positions remained at 20% in 2023, lagging behind lower experience levels. 

However, the overall workforce data in the report demonstrated a positive trajectory, with women's employment reaching 37% in the fiscal year 2023. This marks a significant absolute increase of 13.7% and a robust 58.8% rise from 23.3% in 2018. 

This upward trend, largely attributed to governmental initiatives, underscores the national effort to enhance employment opportunities and empower women through progressive policies and schemes. 

Women at the mid-managerial level who aspire to leadership positions often encounter various challenges, which can lead to career stagnation or even departure from their current employment. 

The report highlights that around 80% of working women in India are opting for career breaks, with 45% attributing their decision to childcare and household responsibilities. Challenges such as resume gaps, skill obsolescence, lack of confidence, bias, stereotypes, and insufficient support are significant hurdles faced by women reentering the workforce after a hiatus. 

However, there are positive developments as companies are taking proactive measures to address these challenges. Initiatives such as extended childcare leave policies, remote and flexible working arrangements, gender-neutral caregiver leaves for new parents, and opportunities for upskilling are being implemented to facilitate the reintegration of women into the workforce.

“For India Inc., inclusive leadership is more than a goal; it's a commitment to unlocking the full potential of every individual, irrespective of gender. Promoting women in leadership requires a ground-up approach, with male leaders playing a pivotal role. Encouraging aspiring women leaders through dedicated mentorship and skill development initiatives is essential. This report is a testament to the fact that we have taken our step towards this SDG goal,” said Mr Anshuman Das, CEO and Founder of LONGHOUSE Consulting. 

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Topics: Diversity, #HRTech, #HRCommunity, #InternationalWomensDay

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