Deloitte Women @ Work Report 2024 finds out that only 10% of women in India believe that their organization is taking concrete steps to fulfil its commitment to gender diversity and 30% of women in India say they don’t want to progress into a more senior leadership position.
Why?
The top reasons why women don’t want to progress into a more senior leadership position in India:
- 24% – don’t like the culture within their organization
- 21% – believe they would be paid less than a man doing the same role
- 18% – don’t believe they will have the opportunity to progress into a senior leadership role
Women as leaders play a crucial role in promoting gender justice, equality, and overall societal progress. When women are actively involved in leadership bodies whether it is community councils, legislatures, executive boards the outcomes tend to be more inclusive, representative, and considerate of diverse viewpoints.
Gender diversity in executive roles correlates with increase in profits. Companies in the top quartile for gender diversity outperform the national average by 21% demonstrating the importance of inclusive leadership for business success and innovation.
Decades of research have shown that women leadership enhances collaboration, increases productivity, inspires organisational dedication, and improves equity.
Research suggests:
- Women leaders demonstrate more transformational leadership styles.
- Women are now seen as equally or more competent as men.
- Women rank better than or equal to men in seven of eight traits relevant to leadership.
- The mere presence of a female leader relative to a male leader led perceivers to anticipate fairer treatment.
Despite these advantages, only 10% of Fortune 500 Companies are led by women.
Despite women constituting nearly 50% of the global workforce and significant strides, they continue to face difficulties on their journey to the summit.
Women leaders face a variety of challenges in the workplace, including gender bias, limited opportunities, and the struggle to navigate male-dominated fields. These challenges are exacerbated by imposed domestic responsibilities, posing significant obstacles for female leaders seeking success.
While there are several factors that contribute to the disparity, one major factor is the lack of tailored support and development opportunities specifically designed for women leaders. The traditional leadership training programs often overlook the unique challenges women face and strengths they bring to the table.
A dedicated leadership training program designed specifically for women leaders addresses these challenges head-on. Moreover, they provide a safe space for women to network, share experiences, and mentor one another, fostering a supportive community of female leaders.
Organizations that place high priority on gender diversity and inclusion tend to outperform their competitors. For instance, Nykaa prioritizes gender diversity and empowerment, with 45% of its employees being women. This commitment fosters a high-performance culture, supported by women holding 40% of board seats and 67% of committee chairs. Such leadership enhances innovation and inclusivity, boosting Nykaa’s market competitiveness and workplace engagement.
By tapping into the diverse perspectives and talents of women leaders, companies can drive innovation, enhance decision-making processes, and create a more inclusive workplace culture. Leadership training programs tailored to women not only cultivate a pipeline of future female leaders but also contribute to overall employee engagement and retention.
To summarise, empowering women in leadership positions through tailored leadership training programs is more than a matter of equity; it is a strategic need for organisations seeking to survive in today’s competitive landscape. Companies that engage in the development and growth of women leaders can unlock latent potential, stimulate innovation, and create a more inclusive workplace for everyone. Together, let’s build a future where women have equal opportunities to lead and succeed.
“Getting a seat at the table is not enough. It’s time for women and diverse leaders to be at the head of the table in leadership roles if we’re going to have a future moving forward together.”
In this journey towards gender equality, InspireOne’s ‘SHINE – She Inspires’ leadership training program has been designed to specifically meet this need. SHINE can help the female professionals enhance key competencies, focusing on developing a positive internal script, building a personal brand, creating an executive presence, managing emotions, networking, influencing stakeholders, and managing change. By empowering women with these skills, SHINE acts as a catalyst for breaking through barriers, enabling women to rise to their full potential in leadership roles.
