For decades, empirical evidence has shown that companies where women were well represented in the workforce typically outperformed their peers with low gender diversity. One of the reasons for the beneficial outcome is that a strong diversity of perspectives facilitates better decision making.
Corporations around the globe have recognized the advantages of gender equality and diversity. Diverse workforces led by agile leaders who adopt a holistic approach are better positioned to tap employees’ full potential.
To achieve this goal, companies need to build teams that truly represent diverse groups and local communities across India.
Organizations that promote diversity are also able to attract young talent eager to work in democratic environments with a transparent work environment.
ISSUES AND ADVANTAGES OF GENDER EQUALITY
Significantly, NASSCOM’s March 2020 report on diversity and inclusion trends in India’s technology industry reveals that women constituted more than 35% of the technology segment workforce in FY2020. The increase in the number of women in the workforce may not be a coincidence, as many companies are making concerted efforts to increase gender diversity through various means, including the use of technology, to eradicate bias from their recruitment process.
According to a report by the McKinsey Global Institute, promoting women’s equality could potentially increase annual global GDP to $12 trillion by 2025. However, to achieve this goal, the public, private and social sectors must act to overcome the gender gap in the workplace and in society. .
Besides being a fundamental social issue, women’s empowerment and gender equality are basic human rights. Recognizing the criticism of gender equality, one of the objectives of the UN Sustainable Development Goal is dedicated to Gender Equality.
INITIATIVE FOR PROMOTING GENDER EQUALITY
Therefore, the Women’s Empowerment Principles (WEP) have been formulated as guidelines for businesses to promote gender equality and empower women in the marketplace, workplace and community.
Promulgated by UN Women and the UN Global Compact, the WEPs are established as international labor and human rights norms, based on the recognition that businesses have an interest and responsibility in promoting gender equality and women’s empowerment.
WEPs are a key tool for corporations to deliver on the gender equality aspects of the UN’s 2030 SDGs agenda. By participating in WEPs, companies demonstrate their commitment to working collaboratively with multi-stakeholder networks of interested in nurturing favorable business practices that empower women.
Additionally, companies promoting women’s empowerment have curated programs focused on retaining female staff returning to work after a long layoff, providing maternity support and encouraging women’s career development.
Digital literacy and skills are being promoted by many organizations because technology is now perceived as a game changer for women’s empowerment.
Among other technological devices, computers and smartphones have facilitated the participation of girls and women in various personal and professional activities, helping them overcome family and social constraints.
THE BENEFITS OF ICT flow
The key role of ICT (information and communication technology) in gender empowerment is a globally accepted fact. ICT is considered to be an enabler that increases women’s economic empowerment in terms of earning power, standing in society and greater participation in decision-making at home and in the workplace.
However, these steps do not mean that barriers against women’s empowerment in the workplace have been eliminated. Many reports note that although men and women may start their careers at the same age, career progression among women is typically slower. Typically, men holding senior positions are younger than their female counterparts in similar roles.
Given the various initiatives of multiple entities like the UN, NASSCOM, the corporate world and the Central Government, there is hope that higher representation of women in the workplace along with greater gender diversity will happen soon. a fundamental reality.
Article by: Midhula Devabhaktuni, Co-Founder and CMO, Mivi
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