"Indra Nooyi earns 81 times more compensation than Warren Buffett"
screams a New York Times headline... and we tout that the Indian woman has arrived on the world's business map... While numbers belie all the time on how miserable a representation we have in the top management given the increasing number of women in offices today.
Indian companies seem to be only "testing-the-waters" to see if senior women executives are able to perform to the companies’ needs — without a real commitment in bringing them quickly into the mainstream of top-management positions. There is a continuous glass ceiling that keeps women away from core business driving roles in a company. We are beginning to see some programmes in place for identifying women on the corporate ladder in Indian companies, but there are no discernible results that companies have understood this as a true business need. As a result, the number of women in high positions has not improved substantially over the years. While some functions which are considered "Soft" - like HR, Corporate Communication, PR - have a large female workforce, male candidates are still preferred for top roles.
Inspite of the growing trend of have a dedicated "diversity" HR specialist there is little increase in participation of women at the board and leadership levels. Women account for barely 5% of Board positions in India, and initiatives are limited to policies which instruct hiring partners on ensuring that 25% of all candidate recommendations should be women. There is no effort to encourage women friendly work policies (like flexi - timings, childcare facilities etc) which would ensure that women continue to contribute effectively to the company.
Most women at the leadership level would agree that they have had to work much harder and prove their commitment to a long term career repeatedly while men are seen to naturally take their jobs seriously. I have come across many instances when companies have been apprehensive on hiring deserving woman candidates as many men are uncomfortable reporting into a female Boss. Women bosses are often labeled "cranky" and "frustrated" (if divorced or single) and termed "poor managers" if they are hard task masters. The single most important barrier in developing women in leadership roles seems to be the "stereotypes" and preconceptions of women’s roles and abilities in the company – especially when it comes to core functions like finance, audit, legal, economics, business security and technology.
Companies that aspire to gain the competitive advantage will need to leverage the tremendous and virtually untapped resource of smart women executives and look beyond narrowly- defined "high-potentials" in the organization in the search for globally inclusive leadership teams.
The best global companies are also recognizing that recruiting, retaining and advancing women is no longer a matter of social responsibility. Successful corporations have understood the strategic and economic significance of women as executives, investors, customers and clients in the global economy, and make a clear "business case" for diversity and inclusiveness in the organization
