4 November2022Editor NoteToday's Women Are Not Just Homemakers; They Are Also Money-MakersWomen form roughly half of the world's population. But is their presence & impact on the business world equivalent to their population? The answer still remains a hard NO! Closer home the challenges are steeper. According to data, women's participation in the workforce fell lower post the pandemic. Women are also underrepresented in top leadership roles and board positions as well. On that front there is good news and bad news. The good news is that we are making progress, the bad news is that the progress is extremely slow paced. Let's look at the proportion of women in board positions across India. According to top consultancy EY's report, "Diversity in the Boardroom: Progress and the Way Forward", India achieved considerable and progress in expanding women's presence on boards from 6 percent in 2013 to 18 percent in 2022. India still lags behind various nations such as France, Sweden, the US, and the UK. The report found that although organizations have expressed a strong commitment to expanding board diversity, the rate of change is not up to mark. The report begs the blame on the corporate law mandate in India. Stringent and well intentioned regulatory actions have been the backbone behind the expansion of women's participation in board across the world and in India too. Moving beyond board positions, women also lag behind when it comes to being promoted to top leadership roles. According to data men are 42 percent more likely to be internally promoted to leadership roles as compared to women. This is a major factor behind the lack of women's representation in decision making roles across industries and sectors. But women are known for their tenacity and grit. Indian women are not bowing out of the race. Instead, they have turned this challenge into opportunity and are turning into business owners & entrepreneurs at a fast pace. According to LinkedIn statistics women are currently looking for more entrepreneurial possibilities than men. According to data from the World Economic Forum's 2022 Global Gender Gap Report, the proportion of female founders increased 2.68 times between 2016 and 2021 compared to 1.79 times for men. During the pandemic, the years 2020 and 2021 saw the highest growth rates for female entrepreneurs. This comes as great news for women everywhere. We hope it motivates more women to build successful career as business leaders and entrepreneurs. Do let us know your thoughts. Rachita SharmaManaging Editor
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