India’s female labour force participation rate (FLFPR) has seen a significant rise, jumping from 23.3% in 2017-18 to 41.7% in 2023-24, as per a recent Economic survey. However, the leadership pipeline is still leaky Women hold only 23.3% of board seats globally.
In India Inc., women occupy just 18.3% of board seats. The Grant Thompson Women in Business report puts the number of women in senior leadership at 33.5%, up from 19.4% 20 years ago.
While there is some progress an increase of around 14% in leadership roles in 20 long years can’t be called as a great achievement so there is a long way to go.
Women are still underrepresented in leadership positions across various sectors. Organizations that prioritize the development of women leaders gain access to diverse viewpoints, enhanced innovation, and better financial outcomes.
However, it’s not easy and challenges are on various fronts. Developing women leaders requires a comprehensive strategy rather than just tokenism.
We need also to understand that we can’t just work with equity but we need to include equality to achieve equity. Here are some practical strategies for nurturing and supporting women in leadership roles,
1. An Inclusive and Supportive Culture
When the organization’s culture is not inclusive even the start performer may find it challenging. Inclusion is an everyday effort and it must be lived in everything that the company does and not just a few events or programs
- Addressing Unconscious Bias: Training to mitigate bias in hiring, promotions, and evaluations can help create a level playing field for women.
- Encouraging Varied Leadership Styles: By accepting and valuing emotional intelligence, collaboration, and empathy, organizations can help women lead authentically, countering stereotypes about leadership behavior that it must be aggressive and masculine
- ERGs: Focus groups and open dialogues regarding gender equity can help create a supportive culture. Employee resource groups (ERGs) for women can offer mentorship and advocacy within the organization.
2. Offer Mentorship and Sponsorship
Mentorship and sponsorship are vital for assisting women in navigating their career trajectories and securing leadership opportunities. These two are generally understood to be the same but they are different and each plays an important role.
Mentorship provides guidance, sponsorship is about actively advocating for women’s advancement. Organizations can enhance these efforts by:
- Implementing Structured Mentorship Programs: Pairing emerging female leaders with seasoned executives can help them gain insights and develop essential skills.
- Encouraging Senior Leaders to Sponsor Women: Sponsors advocate for high-potential women, helping them access growth opportunities that might otherwise be out of reach.
- Highlighting Success Stories: Showcasing the achievements of women in leadership can inspire others and normalize their presence in executive roles.
3. Invest in Leadership Development Initiatives
Targeted investment in women’s growth is crucial for developing future leaders. Organizations should implement programs tailored to address the specific challenges faced by women, including:
- Providing Skills-Based Training: Training in leadership, negotiation, and executive presence equips women with the necessary skills for senior roles.
- Offering Executive Coaching: One-on-one coaching helps women tackle challenges like imposter syndrome and self-doubt.
- Facilitating Networking Opportunities: Encouraging participation in leadership conferences and professional associations helps women expand their influence.
4. Implement Flexible Work Policies and Support Systems
All said and done, women still have a much higher burden of caregiving and taking care of home, and kids.
According to National Statistics Office (NSO) survey, female participants in caregiving activities spent about 140 minutes in a day compared to 74 minutes by male respondents of the same age group.
It is important to understand that since they have double the burden, there should be flexibility for them. Organizations that accommodate these needs create a more inclusive leadership pipeline. Strategies include:
- Offering Flexible Work Arrangements: Options such as remote work or flexible hours allow women to manage work-life balance effectively.
- Supporting Parental Leave and Reentry Programs: Paid parental leave and childcare support facilitate smoother transitions back into the workforce after career breaks. Also, many women come back to the workforce through back-to-work programs and some of these have turned out to be a great success
- Normalizing Work-Life Balance: Promoting work-life integration for all employees fosters a supportive environment conducive to career progression.
5. Establish Clear Goals and Measure Progress
To cultivate a strong pipeline of women leaders, organizations must set measurable objectives and hold themselves accountable. Without clear benchmarks, diversity initiatives may lack focus. Companies can take steps such as:
- Setting Diversity Goals for Leadership Roles: Establishing targets for women’s representation in management helps track progress.
- Conducting Regular Gender Equity Audits: Reviewing pay gaps and promotion rates identifies areas needing improvement.
- Holding Leadership Accountable: Tying diversity metrics to performance evaluations incentivizes senior leaders to foster a diverse talent pipeline.
Developing a robust pipeline of women leaders is not just a DEI initiative but it is essential for business success. The future of leadership is diverse and companies must double down their efforts.
We are already late and as per the Global Gender Gap report released by the World Economic Forum (WEF)at the current rate, it will take 134 years to reach full parity so action is needed today.
There have been many positive stories and initiatives but we must increase the pace of change and that’s precisely the theme of this year’s Women’s Day Accelerate action to collectively forge a more inclusive world for women. Together, let’s #AccelerateAction for gender equality.
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