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Leaders from companies like Allcargo Group, Comviva, Virtusa, PhonePe, Kenanga Investment Bank and others spoke about expanding women’s participation in the economy and liberating them from social expectations.
– Written by Tracy Chan, with input from Aditi Sharma Kalra
Promoting gender equality and DEI should not be limited to the workplace but should extend into daily life. Therefore, society, businesses, families and most importantly everyone needs to change their mindset.
In the final installment of our IWD 2024 series, nine leaders from India, Malaysia and the United States share insights from their real-life experiences.
While this year’s series may be coming to an end, the journey to create a more diverse, equal and inclusive world is an ongoing process that requires collective effort and intention to move it forward.
Echoing this year’s theme, let’s do our part to #InspireInclusion in all aspects of our lives.
Review all the stories from HRO’s IWD 2024 series here.
Indrani Chatterjee, Group Chief Human Resources Officer, Allcargo Group
If the country aims to achieve inclusive and sustainable economic growth, there is a need to increase career opportunities and options for female professionals at all levels. According to a report by McKinsey & Company, only 25% of India’s workforce are women, and women contribute only 18% to the country’s GDP. A study by the International Monetary Fund shows that as women’s labor force participation rate equals that of men, India’s GDP could grow by 27%.
As India strives to increase GDP to $7 trillion by 2030, gender equality in the workforce needs to be prioritized. The government is rightly committed to developing female labor force participation and female entrepreneurship to achieve far-reaching economic growth. Supportive policies, liquidity and infrastructure support are all welcome measures.
However, when we are able to liberate women from social expectations, we can truly expand women’s participation in the economy in a meaningful way. Families and communities must reach out to enable women to continue working without any guilt, and this support system is vital for female professionals in all walks of life.
Pratiti Bhaumik, Senior Vice President, Corporate Human Resources, Virtusa
Empathy, inclusion, and collaboration are essential characteristics of impactful leadership. They foster a culture of equal opportunity and respect regardless of gender, race, age, etc.
At Virtusa, we believe in cultivating a growth mindset in our employees and actively ensuring that every voice is heard, every idea is valued, and every woman can thrive. As a female leader, I strongly believe that growth isn’t just about career and salary advancement, it’s about being able to free up your hands to create an impactful environment for a young workforce – that’s how we pave the way for future generations of women way leaders.
This year, as we celebrate International Women’s Day with a focus on inspiring inclusivity, female leaders must unite. Through their work, they inspire others, break down barriers, challenge stereotypes, innovate and pave the way for diversity as the key to our success.
P. Rajendran, Chief Sales and Marketing Officer, Shapoorji Pallonji Real Estate (SPRE)
Historically, women have often been seen as influencers in real estate transactions and investments, rather than decision-makers. However, there has been a significant shift, with women emerging as powerful decision-makers in real estate. We are witnessing a major shift, with the once male-dominated real estate industry now welcoming a significant female presence and influence. The shift is becoming evident as women increasingly take a leading role in financial choices, moving away from traditional investments such as fixed deposits and gold and towards real estate. This shift provides them with a greater sense of stability, independence and the opportunity to generate returns through rental income or capital appreciation.
From understanding the intricacies of financial nuances to reshaping the dynamics of real estate choices, women are rewriting the real estate narrative. Various factors such as lower stamp duty rates, concessions on property registration fees, participation in schemes like PMAY, higher loan eligibility, specialized loan products from banks and financial institutions, and incentives offered by developers to women home buyers are playing a role in encouraging women to buy homes. play a key role. Women invest in real estate.
We are also witnessing an increasing number of female investors in all our projects. With rising incomes and increased access to resources, women now view real estate ownership not only as a practical option but also as a strategic means to secure their financial future and facilitate wealth creation.
Vaishnavi Shukla, Head of Human Resources, Comviva
We recognize the exceptional achievements and unwavering dedication of women in the rapidly evolving technology and telecommunications industries, and we are extremely proud of the resilience and valuable contributions of our female employees. Our dedicated programs ensure that women are supported at every key stage and milestone in life and that they have equal opportunities to grow and contribute meaningfully to the success of our organization.
We are continually working to accelerate the careers of female leaders and create a workplace where every voice is valued and heard. From our comprehensive campus recruitment programs to internal growth and promotions to holistic wellness interventions at every stage, we ensure a bias-free mindset. So our gender diversity is up about 4%, which we’re really excited about.
Comviva has made great efforts to create a conducive environment for female employees to grow and improve their skills despite the challenges they face every day, and we have taken every step in this direction. We demonstrate our commitment to supporting working mothers through comprehensive maternity leave benefits and on-site nursery facilities in our offices. At Comviva, we are committed to creating an inclusive environment where every woman can thrive and contribute meaningfully to our collective achievements.
Archana Jahagirdhar, Managing Partner, Rukamu Capital
It’s heartening to see more and more women starting businesses, with many successful women creating successful businesses that provide outstanding value to all stakeholders. Regardless of gender, everyone in the startup ecosystem faces significant challenges, but women’s contributions are unique and their capabilities are critical and provide an additional edge to the entire team across different functions.
As India’s growth story continues to move forward, we do see women making a greater contribution to Indian business and entrepreneurship.
Keisha Bell, Managing Director, Head of Talent Management and Diversity, Equity and Inclusion (DEI), DTCC
On International Women’s Day, we reaffirm our commitment to a workplace where every voice is heard, every talent is recognized, and every woman has the opportunity to advance.
At DTCC, we are deeply committed to diversity, equity and inclusion. It is through the collective power of all voices that we drive innovation, inspire change, and shape a brighter future for generations to come. Our vision is clear: create an environment where every voice is welcomed and valued.
One area of focus is the concept of addressing the “broken ladder” phenomenon, which can hinder women’s progress up the career ladder. Through initiatives like DTCC’s Emerging Women Leaders (EWL) program, we work tirelessly to provide women with the support, mentorship and networking opportunities they need to excel. Our efforts are already yielding tangible results: Our analysis shows that participation in mentoring events and programs like EWL is directly linked to increased network diversity and career growth.
Additionally, through initiatives such as the Girls Who Code program and DTCC Future Stars program, we aim to provide young women with opportunities to learn, network and explore future career opportunities. Through enhanced mentoring, education, and support, we believe we can create a more equitable and inclusive environment where women can thrive and contribute their talents to our collective success.
On International Women’s Day, we reaffirm our commitment to pursuing gender equality and empowerment in the workplace and beyond. Together, we can continue to drive positive change and build a future where everyone has the opportunity to thrive in an equitable workplace.
Manmeet Sandhu, Head of Human Resources, PhonePe
At PhonePe, we are committed to creating an environment where diversity, empathy and collaboration drive organizational excellence. Emotional intelligence is a core skill for creating an inclusive and collaborative environment. Being able to recognize and regulate emotions is empowering and like any other skill, it can be developed.
This Women’s Day, we at PhonePe are demystifying the term and bringing it to light. We are hosting panel discussions and workshops to recognize the critical role emotional intelligence plays in creating a workplace where women can thrive. By building emotional intelligence, we not only empower women to excel, but we create an environment where diversity, empathy and collaboration drive organizational excellence and success.
Rupa Roy, Marketing Director, Hexagon Manufacturing Smart ASEAN, Pacific and Korea
As the global economy changes, 75% of jobs in the fastest-growing industries such as Hexagon Manufacturing Intelligence require a workforce with STEM skills. Due to technological advancements, automation and new jobs are emerging every day. To empower more women in STEM fields, we have made our mentorship program part of our culture within Hexagon.
Within my team, I create opportunities to encourage my teammates to use problem-solving, creativity, and critical analysis skills to enhance communication and teamwork in their daily work lives.
Promoting female STEM requires joint efforts at all levels including education, industry and policy development. By creating inclusive environments, providing support and advancement opportunities, and challenging stereotypes and biases, we can empower women to thrive in STEM fields and contribute to innovation and progress.
Nik Hasniza Nik Ibrahim, Chief Human Resources Officer, Kenanga Investment Banking Group
Kenanga is helmed by a visionary and formidable female founder, Tan Sri Tengku Noor Zakiah, and despite being in a traditionally male-dominated industry, the percentage of its employees is female 51% Kenanga’s commitment to diversity, equity and inclusion is deeply embedded in our corporate culture. Vibrant workplace culture. Our approach to inspiring inclusion includes bringing everyone together, fostering unity through strong employee engagement programs, and proudly celebrating cultural celebrations that reflect the rich diversity within our organization.
Additionally, our commitment is reflected in our efforts to secure diverse representation in key management positions, ensuring diverse voices contribute to our decision-making processes. These efforts demonstrate our commitment to creating an equitable and empowering workplace where everyone has an equal opportunity to succeed and thrive.
All photos/provided
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