Corporate sector witnesses women leaders soar from 19% to 37% in 3 years

Women's day 2024: India's corporate sector is witnessing a surge of women rising to leadership positions, with a notable increase in the hiring of women at mid-management to senior levels.

In 2021, women constituted 19 per cent of hires for these positions, a figure that rose to 26 per cent by 2022. This momentum is reflected in the representation of women in senior leadership roles among participating companies, reaching 37 per cent in 2023, according to experts citing The DivHERsity Benchmarking Report.

India surpasses global norm

Businesses led by women not only contribute to diversity but also gain a strategic edge in understanding the expanding female consumer base. According to Grant Thornton's International Business Report, India stands out on the global stage with a 36 per cent representation of women in senior management roles within mid-market businesses, exceeding the global average by 4 per cent.

From education and tech to automobiles, fashion, real estate, travel, and banking, women have taken centre stage. Leaders like Sudha Murthy and Kiran Mazumdar Shaw have made their mark, showcasing the diverse impact women are having across sectors.

IndiGo, with a 44 per cent female workforce, stands out with one of the highest percentages of female pilots globally and an all-female cabin crew.

Breaking family business norms

The shift in attitudes toward passing on family businesses to daughters is evident, with examples like Isha Ambani contributing majorly to the growth of the Reliance Group. Roshni Nadar, heading HCL Technologies, stands amongst one of India's wealthiest women, challenging traditional norms.

The infusion of gender diversity in corporate leadership has become a driving force behind creativity, innovation, and inclusive work environments. Shalini Lambah, CEO of Migrate World, DUDigital Global, highlighted how women leaders bring invaluable skills, fresh perspectives, and cultural diversity to enhance problem-solving and foster empathetic leadership.

"Women leaders bring diverse perspectives, empathy, and strong problem-solving skills to the table. Their emotional intelligence drives success, and they uniquely address challenges, potentially narrowing the gender pay gap and promoting equality," Lambah added.

Women set tech standards

Despite progress, a leadership gap persists, prompting organisations to refine policies and structures. Lynette D’Silva, VP and Head-HR Regions, Amdocs, stressed the importance of inclusive hiring practices and awareness-building to enhance diversity, equity, and inclusion.

"As an equal-opportunity employer, our focus is on recruiting, developing, and retaining diverse talent. Our strategy stresses inclusive hiring, fostering belonging, and ensuring pay equity. We're making good progress, particularly in tech roles, where women excel in software testing (45 per cent) and product management (35 per cent), setting new standards for inclusivity," D’Silva said.

What do women bring to corporate culture?

Women leaders play a vital role in identifying opportunities and challenges, contributing to more innovative and effective teams. Ekta Bhaskar, Global Head – Corporate Communication, BLS International, highlights the collaborative ethos and commitment to employee development that women leaders bring to the table.

"Women leaders emphasise collaboration, communication, and inclusivity, fostering trust, respect, and teamwork. They prioritise relationship-building and invest in the personal and professional growth of their teams," Bhaskar added.

As more women ascend to leadership positions, the corporate world is witnessing the emergence of a more dynamic, inclusive, and forward-thinking future.