Women in Business - India ahead of global average: Grant Thornton’s global research
India ranks third in the world for women working in senior management positions, according to the Women in Business 2021* report by global accounting and consulting firm Grant Thornton. The percentage of women in senior management for India stood at 39%, as against the global average of 31%, which signals the changing outlook of Indian businesses towards working women.
The percentage of women leaders across key positions in C-Suite in the country also emerged higher than the global average in the report. While globally, businesses with at least one woman in the senior management role increased to 90%, the same stands at 98% in India. In fact, 47% of mid-market businesses in India now have women CEOs compared with 26% globally.
Sharing her views on the report findings, Pallavi Joshi Bakhru, Partner, Grant Thornton Bharat, said: “Under the challenging circumstances of 2020, the boundaries between work and home have blurred. In this scenario, it is good to see action being taken by businesses to ensure employee engagement and inclusion. ”
As per Vishesh C. Chandiok, CEO, Grant Thornton Bharat, the findings from the report reflect the willingness of businesses to adapt, innovate and create a diverse culture. “It is heartening to note India ranks higher than its global counterparts in creating a gender inclusive culture. We are third with 39% women in senior management positions. With more women taking on leadership roles and diversity on board, businesses will open new opportunities for growth.”
The report also covers the impact of COVID-19 in the workplace, especially on women. 88% respondents in India believe new working practices will benefit women’s career trajectories in the long term compared with 69% globally. ‘Innovative’, ‘adaptive to change’ and ‘courageous to take risks’ will emerge as top leadership traits in 2021.
Actions organisations have taken to promote gender balance
Source: Grant Thornton Women in Business 2021
For more than 15 years, Grant Thornton has been reporting on gender diversity in senior management among the world’s mid-market businesses. In 2019, we used that data, and knowledge gleaned from a global campaign, to set out the Blueprint for Action. Composed of six pillars, the Blueprint is designed to give companies the tools to deliver positive change in creating gender parity. These pillars comprise: championing the business case; knowing your diversity data; identifying and sourcing talent; opening up development and enhancement opportunities; retaining diverse employees; and creating an inclusive culture.
*Women in Business: Data for the Women in Business report is taken from Grant Thornton’s International Business Report (IBR) - a survey of both listed and privately held businesses. Launched in 1992, the IBR now provides insight into the views and expectations of around 10,000 businesses across 29 economies.