Why gender equality is the need of the hour: A Catalyst report
With UN adopting gender equality as one of the three key aspect of the Sustainable Development in the United Nations Sustainable Development Summit 2015, it has definitely become the centre of every conversation and organisation for good reason. Many initiatives are being taken by the Indian companies to minimize the gap in genders.
The Catalyst Research Centre that works rigorously for the equity of genders at the workplace has done some research and come across with insights. The report is called ‘India Inc.: From Intention to Impact’. “This study is based on a survey of 42 companies which collectively employ more than 400,000 people across India, as well as interviews with key business leaders and experts. Our findings indicate a gap between organizations’ well-intended corporate initiatives and the impact of those initiatives in creating more inclusive workplace,” as per the Catalyst report.
The insights of the report reveal that while Indian industries have the necessary strategies and policies to hire more women, they generally fall short in truly applying them and creating an inclusive environment at the workplace.
The Major Findings of Catalyst’s latest report ‘India Inc.: From Intention to Impact’:
- Men are three times more likely, on average, to be hired and promoted than women at every level
- Executive-level women leave at a rate (28%) double that of their representation (14%). This rate of attrition is higher than that of any other level.
- The executive level include only 14% women in comparison to 86% men which is far from equal.
- Potential for Deeper Impact- 80% companies offer anti-sexual harassment trainings yet over 40% do not hold leaders accountable for translating intentions into impact
The above listed findings give us an overview that India has come at par with the gender equality issue and taking baby-steps into embarking on it completely. However, it is a long way until intention are into actual ground level work and impact the society and growth of the country in a bigger way.
Gender Equality has always been the necessity for the development of a country. Several reports on how inclusion of both genders equally will affect the GDP tremendously have surfaced in the near past. This has boosted the planning, strategizing and implementing of programmes focussing on diversity and inclusion in the work place. Moreover, a McKinsey report suggested that Indian GDP can grow by a staggering 60% if more women start working. Also, it said that gender equality can add up to $12 trillion to the world economy.
Picture Credit- Huffington Post