With more women entering leadership roles, there is certainly a wave of change taking place in the corporate world. But, how do these leaders pave the way for other women to climb the ladder?
India’s corporate sector is seeing a narrowing of the gender gap in senior management roles in organisations. More and more women are entering top leadership roles, signalling a change in the business world.
The Grant Thornton Women in Business 2021 report says that with 39 percent, India ranks third in the world when it comes to women representation in senior management positions. It adds 47 percent of Indian mid-market businesses now have women CEOs.
The report suggests that companies are increasingly becoming conscious of the importance of having diversity and inclusion programmes. Today, the push towards gender diversity by Indian corporations is unprecedented.
While the pandemic and the resultant economic slump has been damaging to various sectors, the growth in work from home opportunities proved to be a boost for women joining the workforce or relaunching their careers.
Unsurprisingly, one of the reasons for the steady upward curve in companies recruiting more women in leadership roles is that these companies are also led by women. A recent US report revealed that, without discounting merit for gender, women supporting women is the real reason for the growing number of women in the top rung of many organisations.
US-based Corporate Women Directors International (CWDI) surveyed nearly 3,000 companies in 55 countries and found that on average, the 143 companies with a woman CEO had significantly more women both on their boards and in executive positions.
Representation matters
Apollo Hospitals Group, one of the largest organisations in the medical sector, sees a major chunk of its top leadership positions being headed by the Reddy daughters.
On women CEOs leading to more women in top management, Preetha Reddy, Executive Vice Chairperson, Apollo Hospitals Enterprise Limited, says that there is an “increased commitment” by companies with women CEOs to hire women in key corporate leadership positions.
“A woman CEO is also more likely to implement programmes to encourage women with potential through specific skilling and training to become ready to take up more responsibilities at a higher level in the organisation, including revenue-generating roles. A female CEO is more likely to be empathetic towards challenges faced by women and propose conducive policies such as menstrual [leave] policy, extended maternity leave, adoption policy, and crèche facilities in or near office premises and so on,” she added.
