4 November2022Editor NoteMNCs Began the Trend of Working Women but Gender Balance is Still A Long Way to go After 1991 the India economy underwent liberalization and experienced massive change. One of the major changes was the entry of MNC in India not only as new-age brands but also as employers. Gradually, circa 2000, the Indian economy experienced even more change. As the IT industry picked up pace the employment landscape in the country evolved too with the entry of more and more women in the workforce. The IT services sector was seen as a 'women friendly' industry and it greatly contributed to more women joining the workplace. This change has been rather gradual over the last two decades. Unfortunately the statistics of the World Economic Forum Gender Gap report 2015 told a different tale. India ranked 139th out of 145 countries in terms of Economic Participation and Opportunity pillar. India was ranked 136th when it came to labour force participation.In 2015 there was a long way to go in terms of achieving gender-balance in the workforce. Its 2022 and not much has changed. We no longer need to make the business case for achieving gender equality in all spheres of life and work. There is enough research material out there to prove the tangible benefits that a gender balanced, diverse and equitable workforce can bring about. Much more than a moral or ethical goal, a gender balanced workforce with equal participation from women in the workforce & leadership roles positively impacts productivity and profitability of organizations. Other than aiding performance, more women leaders facilitate a better quality of work environment for all.Women who form nearly half of the world's population are one of the most underutilized demographic when it comes to economic growth. More women in the workforce and positions of power holds the potential to contribute greatly to the global GDP. This is a no-brainer; more working women is a win-win for us all. Unfortunately the current reality of life is far removed from achieving gender balance in the workforce. If anything the global pandemic pushed more women to step back from the workforce. Although MNCs have done a fair bit to bring more women into the workforce yet there is still a long way to go. A few steps that can promote a positive change include, positive discrimination to increase gender diversity at lower levels, the mid career break and return from it, providing developmental opportunities for women to sharpen their skills, investment in identification and development of senior women in leadership, investing in women in technical leadership, creating a male sponsor network which allows women to leverage the networks, role models and women mentors. We are hopeful that with time and some effort we can bridge this gap and build a more gender-balanced workforce. Rachita SharmaManaging Editor
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