Geethaa George is a seasoned leader and has over three decades of experience in Human Resources & Business Management. At HDFC Bank, she heads the HR delivery team managing Regional HR Business Partnering, Talent Acquisition, HR operations, HR Analytics, HR Shared Services and a Strategic Centre for Excellence team engaged in Organizational Effectiveness, Diversity, & Inclusion and Wellness. Prior to HDFC Bank, Geethaa held CHRO and Talent and OD Leadership positions at Raymond Limited, Raheja Universal, RPG Group and AIG India. She started her career and spent her first 9 years as a Sales and Business Development professional.
In a recent conversation with the Women Entrepreneurs Review Magazine, Geethaa talks about gender diversity and inclusion in the banking industry. She also sheds light on the challenges in terms of the industry’s gender dynamics. Emphasizing on understanding employee perspective, she also talks about the various gender diversity initiatives being undertaken by HDFC Bank and the key metrics to gauge the initiatives’ success.
Read on to know more…
How do you perceive the current landscape for gender diversity and inclusion in the banking industry, especially in light of recent societal shifts and economic changes?
India has seen significant social changes in recent times. Women make up 49% of the country’s population. We now have more girls in all levels of education -primary school, secondary school, college and university than boys with higher pass rates. Also, as per the Central Bank data, in urban and metropolitan areas, women have more bank accounts than men. The missing piece in the workplace representation. 65% of India’s GDP is Service Industry – Financial Services, Media, Hospitality etc. Published data shows that 80% of purchases and purchase influence are made by women. The banking sector comprises roughly 23-27% women. Women make for great resources in these sectors because of their suitability to be in service industry, education and understanding of customer needs. Consequently, the scope and opportunity for educated young women to be employed is better than ever before.
Organizations have a big role in bridging the gap. Diversity at workplace is a business imperative, not just a moral obligation. Research shows that diverse organizations perform better, have more engaged workforces, and are more innovative. Organizations must acknowledge unconscious biases and educate both men and women to be more accepting of differences in thoughts, opinions and styles of leadership. Organizations have a responsibility to correct equity imbalances in performance ratings, pay and promotions. In fact, large organisations can have a significant influence on social change because of the way it sensitises, trains and equips its employees on conscious and unconscious biases that come in the way of true inclusion.
While the industry has made steady progress, there is still a long way to go.
Can you share a pivotal career moment where you navigated a significant challenge related to gender dynamics? How did you approach it, and what were the outcomes?
I believe, my generation faced more challenges than younger women who entered the workforce 20 years later. When I started working in the 90s, acceptance of women at workplace was far lower, and often, I was the only woman in the meeting room.
I recall a personal experience after my second child was born. At the time I was holding a Business Head position. Just before returning from my 90-day maternity leave, the management suggested that I take a quality assurance position for a few years because of my new responsibilities as a mother and that I may not be able to do justice to my current role. This certainly wasn’t what I wanted to do and was preparing to resume my previous role and looking forward to getting back in action. Eventually, I had to step back for a short time, but returned to a business role sooner than suggested.
Looking back, I wonder if I should have challenged this more, but those were different times. Today, organizations are more sensitive to these choices. It certainly should be a woman's decision to step back and not a pre-concluded assumption. Organisations can enable for both.
What are some effective initiatives or programs you've seen or implemented within organizations to support the advancement and retention of women in senior leadership roles in banking?
The Companies Act, 2013 mandates that the board of directors of listed and unlisted companies should include at least one woman. This move has been fundamental to the DEI agenda in the country. Today it has gone far beyond the mandated representation and organisations are recognising the value of diverse perspectives. HDFC Bank’s board comprises of 30% of women.
Inclusion has always been intrinsic to the Bank. With9,092 branches in 4,088locations as of September 30, 2024, our Bank reflects India’s social, ethnic, regional diversity in its entirety. About four years ago, HDFC Bank formalised its Diversity, Equity and Inclusion (DEI) journey.
As part of this, a three-tier governance framework, involving leadership at all levels was instituted under the sponsorship of our Deputy Managing Director Mr. Kaizad M Bharucha, to anchor the DEI journey. In FY 20we were at 19% gender ratio. By the end of last financial year, we have moved to 26% women which translates to over 50,000 women employees at the Bank.
This has been a result of deliberate and intentional effort on various aspects that impact this. For example, we have a sharp focus on hiring women at the entry level. One in three entry level hire at the Bank is a woman. Enabling periods of transition for women when their personal life events like maternity take precedence, is pivotal to creating a conducive environment to retain women employees. This is the time when organisations globally and in India lose maximum women and is often called the broken rung. In order to address this, we have instituted the Pleasant Parenthood policy that covers all major touch points before, during and after her maternity leave, including rating protection during the time she is away, ensuring flexibility when she returns, sensitising managers and ensuring role options as desired by her – even in case of adoption. Further, we offer flexible paternity leave for our male colleagues.
Another initiative, the Bank Again programme, invites women who have taken career break to rejoin without compromising on seniority and compensation. These initiatives have driven significant progress in the last few years.
Over and above this, where it matters most i.e equity in pay, promotion and growth opportunities, the Bank has a laid down process to review and ensure fairness across levels.
What innovative strategies or practices do you believe organizations should adopt to foster a more inclusive and supportive environment for women at all levels?
To ensure an environment where women can thrive, flexible work arrangements are crucial. While flexibility is important to all, for women who are often the primary care givers and hold the lion’s share of household responsibilities along with their work responsibilities, this is a game changer.
While it is challenging for us to provide flexibility in customer facing roles, we try and accommodate request for role changes and flexibility options are given as needed, for example, for returning mothers and in case of personal exigencies.
Mentorship and guidance for young women is another important enabler, especially since career and life milestones for young women often coincide, causing pressure, doubt and uncertainty. Mentors can provide the support and guidance that is crucial at this juncture, helping women navigate these important career decisions and transitions.
Organisations should invest in leadership development programmes to help prepare themselves better for leadership roles. These programmes can help women navigate organisation dynamics and hold their own in high stake discussions. Transparent promotion practices, pay parity, and unbiased performance ratings are also essential. Regular audits further help in ensuring that no disparity exists between eligible men and women.
Progressive and inclusive policies legitimise employee requests, creating an equal playing field for all.
When assessing the success of gender diversity initiatives, what key metrics or outcomes do you believe are most indicative of progress within an organization?
One metric that is most indicative of progress is the proportion of women in leadership roles. This has many upstream and downstream impact: upstream impact in terms of the strategic direction of the organisation; downstream impact as these women leaders become aspirational role models and leave an example behind them that makes it easier for younger women. Therefore, a key metric for success in an organisation's DEI agenda, especially regarding women, is the proportion of women in leadership roles.
The overall gender diversity ratio is an important metric. For example, our Bank’s gender diversity ratio increasing from 18% in FY21 to 26% by FY24 signifies significant progress for us. Another important indication is women’s engagement scores and attrition ratios. Seeing a reduction in the gap between men’s and women’s engagement and attrition ratios comparatively, is a significant indicator of progress made on DEI agenda.
As a leader committed to gender diversity, what legacy do you hope to leave behind in terms of advancing opportunities for women in the banking industry?
I would like to see us getting closer to our vision of 50% of our leadership being women and to create an environment where this is possible in the foreseeable future. Women naturally bring elements of Nurture, Care and Collaboration in the way they lead and engage. This is an essential aspect of building a workplace where young people – The millennial and Gen Z, who will soon become the majority in the workplace, can thrive. If women encompass 50% of the managerial hierarchy, the chances of this nurturing environment becoming a way of life within the organisation is higher.
Message for Readers
I do think that women in leadership should not shy away from sharing their journeys. They will never know, who out there is struggling with a dilemma in her career or life, and that one conversation could make all the difference. By putting themselves out there and telling their stories, they could impact a young woman somewhere.
To all the young women, know that you can have what you want. Ambitious women who want both a successful career and a strong family need to build a solid support system around them. Be okay to ask for help, occasionally let others in your support system take the credit, slow down when you need to so you can surge forward. Your life will be the sum total of the choices you make…so make them with awareness and responsibility.
