India Ranks 12th In Presence Of Women In Boardrooms, Finds Study
India ranks 12th in presence of women members on board, globally, according to a recent study called ‘Women On Board 2020’. The study was jointly conducted by the global recruitment tendering platform MyHiringClub.Com and Sarkari-Naukri.Info. Of 7,824 listed companies who participated in the study, 628 were from India. The study covered employers from around 36 countries. It was found that of 628 companies from India, 55 percent have women directors.
- India ranks 12th in presence of women member on board according to a study.
- Of the 628 companies from India that participated in the study, 55 percent have women directors. This figure is 14 percent more than last year.
- About 54 percent of employees in Asia are women, while the figure stands at 39 percent in India. Also, only a fraction of this number makes it to the middle or senior level.
- Globally, 14.87 percent of companies have women directors. This is more than double as compared to the last two years. However, of these, 29 percent of companies have two women directors while 63 percent have only one woman director.
The study also pointed out that there’s a huge gap in the maximum tenure of men and women on board. 46 percent of women onboard have been a director for less than a year.
Norway Tops The List
According to the study, Norway tops the list, with 40.72 percent women board members. Sweden follows with 30.84 percent and Finland at 29.91 percent women on board. The US has 20.41 percent women board members. Globally, there are 14.87 percent, women members present on board. This is more than double as compared to the last two years. Moreover, in all, of the total employees in India, 39 percent are women, says the study.
Huge Gap In Tenure On Board
The study also pointed out that there’s a huge gap in the maximum tenure of men and women on board. 46 percent of women have been a director for less than a year. Though all the companies say they want diversity in boardrooms, it is unclear why women haven’t made greater inroads yet. Among the companies in India that have women board members, only 29 percent have two women directors while 63 percent have only one woman director.
Why Less Women In Management Roles
In April 2019, 51 of the top 500 companies in India failed to get independent women directors, adding more fuel to the dialogue on lack of gender diversity in the upper echelons of corporate companies as only a fraction of women professionals are actually making it to the middle or senior-level management roles. According to HBR research, women need to be comparatively more qualified to be considered for the same role as men. Moreover, the research also found that many women, who form a part of the corporate boardrooms, are not really treated as full-time members. Talent is not really enough, when it comes to women in boardrooms, they do have to keep on proving that they are worth the position.
The study also pointed out that there’s a huge gap in the maximum tenure of men and women on board. 46 percent of women have been a director for less than a year.
Despite the efforts that companies seem to be putting in, we need to be asking why do women have to constantly prove that they are worthy of the chair they have been offered? Is their appointment token representation? Or a step taken just to pacify those who have been calling out gender inequality in upper echelons of power? Is putting women in boardrooms enough or more needs to be done to ensure that they are taken seriously in their position and their talent gets due respect?
Picture Credit- Livemint