25,000 Female Employees exit Top 5 Indian IT Firms in FY24

By: WE Staff | Friday, 31 May 2024

Five of India's leading IT services companies namely, Infosys, TCS, Wipro, LTI, Mindtree, and HCL Tech have witnessed a net departure of 25,000 women in the year financial year end in March, according to a report by recruiting firm Xpheno. The diversity ratio has marginally increased by 0.9 per cent, rising from 374,000 in March 2020 to 540,000 in March 2023 and further decreased to 515,000 at the end of FY24, despite an increase in the overall percentage of women recruited by these firms.

The increasing hiring volume across genders post-pandemic underscores the need for ongoing efforts to promote gender diversity and create an inclusive work environment in the IT industry. Between 2020 and 2024, the number of women in IT firms increased by 38 per cent, but the diversity ratio grew by 0.9 percentage points, indicating a similar increase in hiring of male employees. the average diversity ratio fell 0.6 percentage points from 34.32 per cent to 34.26 per cent a year earlier. Pre-pandemic years witnessed a 1.56 per cent increase in diversity in five IT firms, while post-pandemic growth is largely due to increased hiring volume across genders.

Avtar group reports a significant gender disparity in leadership roles in the Indian IT industry, with a senior diversity ratio of 17%, less than 35% at the entry-level. Saundarya Rajesh, Founder-President of Avtar Group mentions, "This lack of progression can be discouraging for ambitious women. Imagine dedicating yourself to a field, only to face constant hurdles to advancement and fair compensation. feeling undervalued and passed over for promotions can be incredibly demotivating."