Women are more ambitious than ever, and workplace flexibility can be instrumental in fueling their ambition and success. But, despite some hard-earned progress, women's representation is still lagging. That’s according to the latest Women in the Workplace report from McKinsey, in partnership with LeanIn.Org. It also revealed a few myths around women such as women becoming less ambitious, the ‘glass ceiling’ being a barrier in women’s advancement, that it’s mostly women who benefit from flexible work etc. Hybrid or remote work allows women to experience fewer microaggressions and enjoy greater psychological safety. Moreover, this is what we as organisations must defeat – to offer maximum flexibility and opportunities to women to propel women empowerment in the workplace. Despite progress, gender disparities persist in the workforce. According to the World Economic Forum’s Global Gender Gap Report, it will take an estimated 135.6 years to close the gender gap completely. Till date, women continue to face barriers in career growth, pay gaps, and underrepresentation in leadership roles.
What can companies do in adapting the HR policies to propel women empowerment?
1. Keep A Track of Performance Using Gender-Neutral Tools
Analysing outcomes is vital in creating successful business initiatives. Most companies track outcomes consistently to achieve their business objectives. It’s imperative to use data to fix problem areas. This includes gender-neutral hiring, negating gender-bias in processes & promotions, and promoting a growth mindset. HR teams must invest in organizing more career development discussions, have inter-intra team discussions, performance ratings, and analyse employee sentiments keeping in mind date privacy. The inputs might help towards necessary organizational change.
2. Pay Equity
As per the 2023 Women, Business and the Law (WBL) report, laws and regulations affect women’s economic opportunity in 190 economies. Further, as per the World Inequality Report of 2022, Indian men earn 82% of the labour income, whereas Indian women earn only 18% of it. Ensuring that women receive equal compensation for performing the same tasks and holding the same responsibilities as men is vital for achieving gender equality. To sustain pay equity, HR policies should regularly assess compensation plans and address any disparities within the organization.
3. Inclusivity & Flexibility
Balancing work with caregiving responsibilities can be particularly challenging for women. Flexible work options, such as telecommuting, flexible hours, and job-sharing, can enhance work-life balance, job satisfaction, and retention rates among female employees. By embracing shift in mindset and offering various work options, organizations can attract and retain the most competitive, diverse talent pool. Further, creating a more inclusive work environment increases a sense of belongingness leading to better motivation, retention rate and productivity.
4. Anti-Harassment and Anti-Discrimination Guidelines
A survey conducted by The Udaiti Foundation among 200+ senior HR leaders in Indian companies revealed that over 59% of respondents reported their organizations had not established the internal complaints committees required by the POSH Act. Despite the existence of policies such as the POSH (Prevention of Sexual Harassment) Act, there remains a significant gap in compliance, which presents a major obstacle to retaining and promoting women employees. HR policies must include clear guidelines against harassment and discrimination. Employees should feel encouraged to report any incidents without fear of retaliation. It's crucial to conduct thorough investigations and take appropriate actions to ensure a safe and respectful work environment.
5. Employee Resource Groups (ERGs)
ERGs focused on gender diversity can create a supportive and inclusive environment for women in the workplace. HR policies should support the creation and active participation of these groups, as they can foster communication, mutual support, and advocacy among women. Additionally, ERGs provide valuable feedback to help organizations better understand and address the unique needs of women.
6. Mentorship & Role Models
Organizations should actively promote women's career development by offering mentorship and sponsorship programs. HR policies can establish clear pathways for career advancement, ensuring that women have equal access to opportunities as their male counterparts. One of the many ways to encourage women at the workplace is to create and give them access to more women role models in a male-dominated labour force.
7. Training and Development
HR policies that prioritize leadership and confidence-building training can help women overcome barriers and seize growth opportunities within the organization. Ongoing training and development programs should be a priority to empower women with the skills and knowledge necessary for career advancement.
The Country’s Resolve
India is undergoing a transformative shift as the nation continues to champion the empowerment of women across all sectors of society. Reflecting this commitment, Union Budget 2024 marks a significant milestone in India's pursuit of gender equity by dedicating ₹3 trillion, specifically aimed at women. Through Budget 2024, the Indian government has made substantial strides in advancing gender inclusivity and empowering women within the workforce. By investing in skill development, entrepreneurship, and promoting a work-life balance, the government is working towards creating opportunities for women to excel across industries. This budget represents a pivotal effort to shatter the glass ceiling and move closer to achieving gender parity in the workplace.
In nutshell, as the country advances, women will increasingly play a crucial role in the nation's growth and its vision of becoming a $5 trillion economy by 2027-28 - making gender equity not just a dream but a reality. Hence, this is the perfect opportunity for the companies, organizations and respective HR leaders to lay the foundation for a systematic change, now, more than ever.
(The above article has been written by Ranjini Chakraborty- People Leader with Giesecke + Devrient MS India, exclusively for BW People publication)
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