4 October2022Editor NoteThe Business Case for Gender Balanced Workforce Has Long Been Made; Its Time Now to Act Management consulting has been a key ally of the global business landscape for years. The nitty-gritties of running and growing a business require deep subject matter expertize, which is often not found within the organization. This is where external business consultants come into the picture to help organizations improve their business performance and solve any specific business challenge. We often hear a stereotype surrounding consultants; `what do consultants really do?' All jokes aside, they do quite a lot; right from analyzing existing organizational challenges to understanding the competitive environment to creating a detailed action plan addressing the challenge at hand.The management consulting industry has been a valuable asset to business of all stature and thus the industry has also grown significantly over the years. The Indian management consulting landscape was estimated to be worth Rs. 30,000 crore and has been growing at a CAGR of 30 percent in the last few years. Although consulting has been said to be man's field yet the times are changing and so is the contribution of women in the field of consulting. Today we see more and more women becoming consultants, especially in the top companies. It is the very consulting and stagey firms that urge their clients to embrace diversity & inclusion who are at the forefront of bringing more women consultants on board. They are making conscious effort to have more diverse, inclusive teams where all genders are represented equally. This approach helps organizations greatly and makes great business sense as well. But there still remain mountains to be climbed; a 2019 survey found that women make up only 20 percent of the top partners in top consulting firms in India. It's disheartening to see that the higher we go in the ladder, the lesser is the number of women. We shouldn't have to make the business case for diversity at this point because enough has been said and written about the benefits of having a gender balanced workforce. The focus now must be on the steps firms can take to attract more women into the workforce and eventually in leadership roles. The key factors is supportive structures within workspaces by way of incorporating flexible working hours, emphasis on emotional & physical well-being and exemptions from un-planned travel. The key lies in empathy. And that empathy can only be achieved when there are more women decision makers at the top. We must do everything in our power to reinvent the wheel and build a gender balanced workforce in the Indian consulting world. Do read on and let us know your thoughts. Rachita SharmaManaging Editor
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