65% of Indian Working Women are Self-Employed finds Careernet Report

By: WE Staff | Friday, 22 March 2024

In terms of the composition of the workforce, there has been a noticeable increase in the proportion of women during the past 12 months. More particular, women now hold 2-3% more positions in junior professional jobs and executive boards than they did in 2022 (statistics).These numbers, which were derived from a Careernet study, shed light on the overall hiring practices for female candidates.

"The State of Women's Employment in India," 2023 edition, states that the majority of Indian women who work for themselves are self-employed. Of the 69.2 crore women in the population, about 25.6 crore, or 37 percent, work full-time. These working women are divided into different groups: 17 percent are salaried workers, 65 percent are self-employed, and 18 percent are contractual or daily wage workers.

Moreover, the distribution of women in salaried employment points to a greater concentration in urban areas. Interestingly, there are 2.7 crore salaried women in cities and towns and 1.6 crore in rural areas. The cities with the largest gains in female employment are also listed in the report. Pune and Chennai have increased by 33 and 29 percent, respectively, and Hyderabad has increased by 34 percent. Conversely, hiring rates for women in Delhi NCR decreased by 2%, reaching 20% in 2023.

Findings from a review of the cities that saw this trend showed that Hyderabad led the pack in terms of hiring more women, with a 34 percent rise, followed by Pune at 33 percent and Chennai at 29 percent. By comparison, Delhi NCR saw a 2 percent decrease in 2022 and a 20 percent increase in 2023.

The survey also shows a significant shift in the percentage of women employed, with a 3-5 percent increase in 2023 over 2022. This rise is particularly apparent in junior professional roles and executive boards. The majority of women hired by corporations were freshers out of all age categories.

Moreover, women with 0–3 and 3–7 years of experience made up 20–25 percent of all hiring in each band. Interestingly, the data indicates that over the past two years, the proportion of women hired at the mid-managerial level has remained constant at 23%. However, women occupying senior-level positions saw a decrease in this percentage to 17%, lagging behind those with less experience.

The BFSI industry in GICs or GCCs exhibited the largest preference for hiring women, with employment rates for women increasing from 40% in 2022 to 43% in 2023. There was a notable improvement in the ratio of women hired by startups from 22% in 2022 to 30% in 2023.

Furthermore, from 24% in 2022 to 25% in 2023, women's representation in the domestic BFSI industry increased slightly. In a similar vein, the percentage for domestic enterprise increased to 30% in 2023 from 28% in 2022.

According to the data, hiring is increasing in all industries, indicating that women are becoming more common in the workforce, and the gender wage gap is narrowing. These outcomes show how hard effort is still being done to support diversity and inclusivity in the workplace.