During the FICCI Women in Workforce Summit and Awards held on Thursday, FICCI President Anish Shah announced an ambitious target to create opportunities for 4 million women in the workforce over the next three years. This initiative is part of FICCI's four key focus areas for Viksit Bharat. He urges corporate India to examine policies and support systems for gender equity, emphasizing equality as a cornerstone and fostering a culture of inclusion.
McKinsey & Company's "Women in the Workplace" shared a glimpse of its report during the FICCI event. Based on a comprehensive study of 325 companies, the report reveals India's formal workforce underrepresentation of women, with C-suite representation below 20 per cent. Vivek Pandit, Senior Partner at McKinsey & Company mentioned "While women's under-representation in the formal workforce is a near-universal problem, the findings reveal that solutions must account for vastly different starting points." He added, "By recognizing unique challenges Indian women face and the true starting position of your own organization, you can bridge the representation gap and unlock the full potential of your talent."
The McKinsey study revealed that women make up only 33 per cent of entry-level positions, decline to 24 per cent at managerial levels, and 17 per cent in C-suite positions. Men are more likely to advance, while women are 1.3 times more likely to leave their jobs.
