Sectoral dashboards have been prepared by analysing data of NSE-listed companies from the annual reports for the financial year 2022-23. The data shows that banks, financial services, information technology and service companies have a higher representation of working women than other sectors, but there were some interesting points to highlight at different levels of function, in retention and the implementation of enabling policies to help more women find meaningful career paths.
The report notes that leading global and Indian companies have initiated several programmes for women employees, but the IT sector continues to face a significant gender gap in leadership positions. The report highlights that women in leadership positions and on boards account for 22%, which is lower than the 34% at the overall employee level. Retention rates and return to work after maternity or paternity leave are closer to the average for NSE companies.
According to the report, it is important to focus on developing specific talents and planning for the advancement of female employees. This could include implementing two-way feedback sessions, providing learning opportunities and facilitating networking with senior leaders. Additionally, creating tailored sponsorship or mentoring programs can help support women’s career growth.
In the financial services and insurance sector, the proportion of women in management positions is 21%, but at employee level it is only 18%. This highlights the need for flexible working policies, family-friendly initiatives, reintegration programmes and the creation of employee resource groups that can help address challenges related to attrition.
In the banking sector, the gap at the leadership level is most visible. The overall representation of women at employee level is 25% and the retention rate is also high. But at management level, it is just 10% and at board level, 14%.
In this regard, the report highlights policies that could help career progression. Companies can introduce leadership training programmes, skills enhancement initiatives and certifications to facilitate women’s progression in the sector, with the aim of increasing the presence of women in key management positions and on boards of directors. In the services sector, while female employment overall is at 19%, representation is higher at the management level (26%) and at board level (21%). One of the key areas highlighted by the report is safety. It mentions that since sales and operations are key areas for progress and growth, companies in the services sector need to address the challenges that can lead to women leaving these positions. This includes addressing safety issues while travelling and providing the necessary infrastructure support such as transport and accommodation facilities.
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