Three Ways We Can Empower Women In 2024 Workforce Dynamics

To establish a flexible work environment, it's always a solid idea to reflect on the narratives surrounding women in our societies and economies. While the role of women as caregivers and nurturers is deeply ingrained and often taken for granted, the recognition of women as individuals with talents and ambitions in employment and leadership remains a work in progress.

The challenges are multifaceted, spanning across all levels of society and economy. Women continue to face inferior income opportunities compared to their male counterparts, with global workforce participation rates for women significantly lower than men. Furthermore, when women do engage in the workforce, they often encounter wage disparities.

Addressing these disparities not only fosters equality but also fuels economic growth, as studies suggest that closing the gender gap in workforce participation positively impacts GDP. Importantly, research indicates that a significant majority of women desire to be part of the workforce, emphasizing the importance of creating conducive environments for their participation.

While the global representation of women in STEM stands at 28%, the figure drops significantly to a mere 14% in India. Highlighting these statistics isn’t about assigning blame; rather, it’s about emphasizing the urgent need to embed gender inclusivity into all facets of our endeavours. If we are to achieve the United Nations’ Sustainable Development Goal of Gender Equality by 2030, it requires a concerted effort from all stakeholders at an accelerated pace.

Here are some strategies that can make a difference

• Starting Early: Encouraging girls to pursue careers of their choice.

Breaking gender stereotypes begins at a young age. By encouraging girls to explore careers based on their aptitudes and interests, rather than societal norms, we can pave the way for a more diverse and inclusive workforce. Our Corporate Social Responsibility initiatives focus on promoting STEM careers among girls from underprivileged backgrounds, providing them with the necessary support and encouragement to pursue their passions.

• Creating Supportive Workplaces: Recognizing the need for work-life balance.

Women often face the burden of balancing caregiving responsibilities with their professional aspirations. As employers, we can create environments that accommodate flexible schedules, hybrid work options depending on their profiles, and supportive policies for maternity and childcare. By offering robust support systems, we can empower women to thrive in both their personal and professional lives.

• Empowering Women for Leadership: Creating pathways for career advancement.

In addition to fostering a diverse workforce, organizations must actively groom women for leadership roles. Providing access to training programs, mentorship opportunities, and cross-functional experiences can help women develop the skills and confidence needed to assume leadership positions within their organizations.

While these solutions may seem straightforward, they require sustained commitment and investment from all stakeholders. As drivers of economic growth, organizations bear a responsibility to champion inclusive practices that empower women and drive societal progress.

Authored by Kavita Desai Head of Corporate Communications, Corporate Social Responsibility and DE&I India Leader at Covestro (India) Private Limited