India’s ranking stumbled 21 places on the Global Gender Gap Index 2017, a report from the World Economic Forum states. India’s position is far below the global average and even lags behind neighbours’ like China and Bangladesh. India’s poor performance is due to lower participation of women in the economy and a glaring gender pay gap.
In India, as per available data, only 27% women are part of the workforce and about 50% women leave their jobs mid-career. To address the issue of missing women in the workforce, GCWL is
leading a campaign, #CEOs4Women: A 3½ Point Gender Equality Pledge, to ensure equality for women in the workplace by working with organisation leaders in the corporate and development sector.
The initiative, through its 3½ Point Gender Equality Pledge, aims to create an impact by engaging and deriving investment from leaders to address gender gaps at all organisations levels. It is a collective action to reform policies that will stop gender-based attrition and foster women’s leadership.
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The 3½ Point Gender Equity Pledge will create equal opportunities and conducive workplaces for women. The initiative will not only ensure accountability among organisations, but also bring together sectors across the board to address the gender gap in the work force.
The Pledge requires the CEOs to commit, establish and strengthen policies and practices in their organisations to ensure equal access to opportunities. The CEOs also track their progress on gender indicators. #CEOs4Women is built on the foundation of a strong business case which will derive investment from organisation leaders in the campaign.
In specific, the CEOs commit to:
1. Disclose gender data through the pipeline annually.
2. Foster women’s leadership.
3. Reduce attrition of the female workforce.
3½. Commits to get another CEO to sign the gender equity pledge to expand the network.
Research proves that companies with higher gender diversity scores have higher economic returns and improved access to a diverse talent pool. Furthermore, women also represent a large section of the customers, clients, and partners for many businesses, making a gender-balanced workforce critical to business growth.