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34% of Women Exit Firms Over Work-Life Balance

In Business, News
February 24, 2024

KOCHI:
The Udaiti Foundation (TUF), in collaboration with the Center for Economic Data & Analysis (CEDA), unveiled “Women in India Inc (WIIn) HR Managers Survey report, that highlights a significant contrast between rhetoric and action in gender diversity initiatives in corporate India. The study was showcased at the Women in India Inc. Summit, curated by The Udaiti Foundation in partnership with Godrej DEi Labs, Centre for Economic Data & Analysis, Ashoka University and Dasra to drive impactful data-backed conversations on gender inclusivity in the corporate sector.

The esteemed speakers included Nisaba Godrej, Executive Chairperson Godrej Consumer Products; Prabha Narasimhan, Managing Director, Colgate-Palmolive India Ltd.; Shyamala Gopinath, Former Chairperson, HDFC Bank; Sunita Cherian, Chief Culture Officer & Senior Vice President, Human Resources, Wipro; Dr Ashwini Deshpande, Professor of Economics and Founding Director Centre for Economic Data and Analysis (CEDA), Ashoka University, among others.

“At Udaiti, we are committed to driving action for women’s economic power and agency, through data-backed evidence and purposeful collaborations with India Inc. The Women in India Inc. Summit is a crucial platform that aims to bring together industry leaders to spark actionable conversations that help move the needle on the ground towards gender inclusive workplaces”, remarked Pooja Sharma Goyal, CEO, The Udaiti Foundation.

The Women in India Inc (WIIn) project is focused on strategic partnerships with private sector firms to adopt best practices and shape policy, thereby transforming women’s Recruitment, Retention, and Advancement. The WIIn study administered online surveys to 200 senior Human Resource Managers across various sectors, including FMCG, Pharma, Retail, IT/ITeS, and BFSI, to comprehensively understand the landscape of gender diversity policies and practices across the employment spectrum.

“Data is the cornerstone of gender diversity in the workplace. It enables us to attain and uphold global standards and industry best practices. The WIIn Report and Udaiti’s Close the Gender Gap data platform, along with their sectoral and organisational scorecards, offer invaluable insights, and empower strategic action.” — Nisaba Godrej, Executive Chairperson, Godrej Consumer Products Limited.

The study also stated that despite commendable efforts, such as 48% organizations using mixed-gender interview panels and 52% employing gender-neutral job descriptions, training for hiring managers, crucial for gender diversity (30%), remains under prioritized.

Dr Ashwini Deshpande, Professor of Economics, Ashoka University, added, , “The WIIn report highlights the critical necessity for fundamental change in corporate attitude towards gender diversity. We find that even organisations with stated gender diversity goals often lack actual mechanisms to ensure a female-friendly and gender diverse work culture. Employers can play a huge role in attracting women into formal paid work. The right mix of policies at the workplace will enable women to stay on, advance in their careers, and contribute to the growth of the organisation.”

To further enable this movement from rhetoric to action, the Centre for Economic Data & Analysis (CEDA), Ashoka University and The Udaiti Foundation (TUF) have launched the ‘Circle of Champions (CoC)’ initiative. Our CoCs represent a distinguished group of trailblazers, fostering gender transformative change within their organisations, sectors and spheres of influence. Through our collaborative, data-backed actions, we aim to accelerate action towards gender inclusive workplaces,and collectively drive to achieve tangible outcomes .