It's Time For Women To Take Over The Boardroom

Having more women in the boardroom is simply good business—so why are Indian companies dragging their feet, asks Anindita Ghosh

- Anindita Ghosh

Consider industry leaders like TCS’ executive director Aarthi Subramanian, the chairman of SBI Arundhati Bhattacharya or the CEO of Crisil Ashu Suyash, and you might be tempted to think gender dynamics are changing in corporate India. But the ground reality is that these women are part of a small minority. According to the Securities and Exchange Board of India (SEBI), one-third of the top 500 listed firms in India don’t have a single woman on their board. Saba Ali, president of strategy and partnerships, North India Sotheby’s International Realty, says, “Only 14 to 19 per cent of board positions in Fortune 500 companies are held by women. The percentage is the same even in the Fortune 1000 list.” While there have been studies to prove that an organisation benefits greatly from having more women in the boardroom, this wisdom is not reflected in numbers as far as India is concerned.

According to Quazi Mohammad Shahed, chief human resource officer, Telenor India, “Gender-balanced boards are proven to result in greater business success. But a report of Equality and Human Rights Commission (2012) suggests that at the current pace, it will take more than 70 years for us to get there.”

WHERE ARE ALL THE WOMEN?

According to a Catalyst research report titled High Potentials Under High Pressure In India’s Technology Sector, high-potential women begin their careers on an equal footing with men when it comes to designation, pay and aspirations. However, within 12 years, women make approximately `3,80,000 less than men, receive fewer developmental opportunities, and carry more of the responsibility at home. Catalyst’s First Step: India Overview has shown that nearly 50 per cent of Indian women drop out of the corporate employment bracket between junior and mid-levels, compared to 29 per cent across Asia.