Every four women out of five is not working in India. The rising technological exclusion, changing labour trends and social barriers are declining women’s participation rate. Only 9 countries after India reports poor women participation. Moreover several recent studies give some really thought provoking facts which clearly highlights that women have an important role to play in economics.
- Of the approximately 432 million working-age women in India, about 343 million are not in paid formal work.
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Discussing women economy in COVID a report by Mckinsey states that senior level women, working mothers and racially distinguished women are the largest category who are facing the pressure of the pandemic. The same study reports that companies are on a very high risk of losing women at the leadership level because the work from home profile is definitely creating an imbalance.
However these challenges are not new rather the intensity has increased where women are exhausted at a higher rate than men. Since the financial role of men have always been important therefore, keeping in mind the emotional, social and family front, women are ready to give up their professional life. This somewhere have been sensed by the companies as well where more than women are being asked to leave or furlough or the hiring is more for male candidates than female.
In India, a report by Linkedin states that female participation has increased by 7% from April till July, 2020. Where work from home has proven to be a hidden boon for women to rebuild their career and start fresh. Improving their overall positioning in the job market but this is only visible skills pertaining to advance and basic digital skills.
This can simply mean that Board Search for women is going to be a difficult task for recruiters as women now wants to have a profile and career which accepts that work from home involves work for home as well.
Moreover with the financial impact of the pandemic on the companies there is going to be a definitely withdrawal of women from workforce. As currently companies are more directed towards strategies that can improve their financials than employee based benefit programs. Surely some organizations will show a different picture where diverse leadership board will be further strengthened and will wave a path for others to follow.