8 FEBRUARY2024INFOCUSINFOCUSArecent survey by ANSR and Talent500 revealed that 42 percent of women in India feel underpaid in the tech industry as the Tech Pay Gap persists in the industry. According to 70 per cent of survey respondents, DEI activities in the tech sector need to be integrated into fundamental business values rather than being used primarily for marketing.Gender diversity is a crucial business requirement that influences company cultures and promotes success, not just an HR function. Gender diversity is greatly supported by Global Capability Centers (GCCs). Diversity is a top priority for these institutions, as seen by the ratio rising to over 35 per cent after four to five years of operation. Due to the infusion of more female entrepreneurs and tech innovators, 41 per cent of women in India are confident about the future of the tech sector.When asked about gender diversity policies, 70 per cent of respondents said that they are majorly utilized for marketing rather than actual work. While recognizing genuine attempts, 61percent point towards slow development. Diversity initiatives are perceived by 30.8percent as either nonexistent or superficial.According to 60percent of respondents with five to ten years of experience, the firms need to be held responsible for fair recruiting procedures. In interviews, 45percent of respondents claim to have encountered gender stereotypes, and 30percent believe their technical talents are underappreciated in comparison to those of their male counterparts. 42percent of women in tech believe that there is salary inequity. 45percent of respondents mentioned non-diverse hiring panels due to biased recruitment practices. According to Aon's predictions, in 2023 there was an unresolved gender pay disparity of 28­30percent in the technology sector and 8­10percent for junior management. As the Vice President and Head of Commercial & Money Movement Solutions (CMS) for India and South Asia, Visa has appointed Shruti Gupta. She will manage all business and corporate solutions for Visa in this role, including integrated money supply, commercial, and Visa government solutions. Her responsibilities include working with the leadership team in South Asia and India to plan and implement a multi-year growth strategy.Shruti provides significant experience to Visa's team and has a broad background in banking and finance, specifically in commercial solutions and strategy. Group Country Manager for Visa India and South Asia, Sandeep Ghosh, welcomed Shruti with joy and emphasized her extensive background. Developing and implementing a multi-year growth strategy working together with the leadership team in India and South Asia is one of Shruti's primary duties.According to Shruti, Visa's persistent leadership in payment ecosystem advances is consistent with her view that business development with commercial clients benefits greatly from a strategic approach. Having worked at Citi for more than 20 years, Shruti worked in a variety of roles in strategy, risk management, and commercial, serving MNCs, regional corporations, and the startup community. Shruti began her career with Citi India in 2000 and served as Managing Director for the multinational Citi commercial banking segment. 42PERCENT INDIAN WOMEN FEEL UNDERPAID IN TECH INDUSTRYVISA APPOINTS SHRUTI GUPTA AS VP FOR CMS INDIA & SOUTH ASIA
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