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Business News/ Companies / Services, healthcare, realty see surge in women employment
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Services, healthcare, realty see surge in women employment

IT, FMCG remain stagnant despite firms across sectors overhauling their retention and hiring strategies to get more women on board

Better educated women from wealthier families aren’t encouraged to work and it’s usually when a man’s salary falls short that women seek jobs. Photo: MintPremium
Better educated women from wealthier families aren’t encouraged to work and it’s usually when a man’s salary falls short that women seek jobs. Photo: Mint

The number of women working in permanent roles has increased in services, healthcare and realty sectors, while those in IT, packaged consumer goods and financial services remained flat in 2022-23.

The stagnation comes despite firms across sectors overhauling their retention and hiring strategies to get more women on board.

 

A study of 2,000-plus companies listed on the National Stock Exchange reveals that the IT sector, for instance, has seen women’s participation in the permanent workforce hover around 34-35% over the past three fiscal years compared to the services sector, where the women participation has increased from 12% in 2020-21 to 20% in 2022-23.

The study, Close the Gender Gap, done by The Udaiti Foundation, an NGO, noted that the number of permanent women employees in the formal sector has increased by 3 percentage points from 2020-21 to 2022-23, showing signs of slight rebound in women representation after the pandemic.

During the covid-19 pandemic and immediately after that, a large number of women from across the permanent and temporary workforce had started dropping as pressures of the hybrid work regime prompted more women to quit. However, the marginal increase is not captured in the senior levels where the struggle to get women candidates on board remains intense.

“We find that as the employee size rises, there is a fall in the representation of women in key management positions (KMPs). This shows that large corporations are able to attract women talent at the early career stage, but women find it difficult to break the glass ceiling and move up the ladder," the study noted.

Interestingly, the smaller organizations are offering a better stage for women leaders to perform.

The study found that the share of companies with more than one woman in the board of directors is 43%, but this plunges to 11% in companies with more than two women directors. On the other hand, 97% of firms have more than two male members on boards. The highest number of female directors on board is found in the media, entertainment and publication sector, at 25%, followed by healthcare at 22%.

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ABOUT THE AUTHOR
Devina Sengupta
Devina Sengupta reports on the shifts in India Inc’s workplaces, HR policies and writes about the developments at India’s biggest conglomerates. Her stories over the last decade have been picked up and followed by Indian and international news outlets. She joined Mint in 2022 and previously worked with The Economic Times and DNA-Money.
Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
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Published: 11 Dec 2023, 06:14 PM IST
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