International Women’s Day: Report says women in senior management see decline since 2021 in India

By:
on Mar 8, 2024
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  • There are only 34 percent of women in senior management roles in India.
  • Evolution in work models across industries is a key factor in the decline of women in senior roles.
  • Satya Jha, Chief Business Officer of Grant Thornton Bharat suggests hybrid and remote work as a solution.

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The representation of women in senior management positions within mid-market companies in India, with revenues ranging from $10 million to $1 billion, has shown a concerning decline.

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According to Grant Thornton’s recent “Women in Business Report,” released yesterday, there are only 34 percent of women in senior management roles in India, down from 36 percent the previous year.

This decline has been consistent since 2022.

The changing landscape of work models across industries is identified as a significant factor contributing to the decline of women in senior management roles.

There has been a steady decrease in hybrid work arrangements, with employers increasingly expecting more physical presence in the office from their employees.

Why has female representation declined?

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In 2024, the percentage of businesses offering hybrid roles dropped to 56 percent, down from 62.3 percent in 2023.

Similarly, the proportion of employees being asked to return to the office increased to 35.7 percent, compared to 27.4 percent in the previous year.

The number of employees working from home also saw a significant decrease to 1.8 percent in 2024, down from 5.3 percent in 2023.

Additionally, the report highlights that the percentage of women in senior roles in India surpasses the global average of 22 percent.

What Grant Thornton’s expert says

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Satya Jha, Chief Business Officer of Grant Thornton Bharat, suggests that adopting hybrid and remote work models could offer a solution to this issue.

Senior management plays a crucial role in addressing this gender disparity.

Roles with higher percentages of women include Chief Finance Officer at 40 percent, Human Resource Director at 38 percent, and Chief Executive Officer/Managing Director at 34 percent.

However, it’s notable that in 2004, there were only 12 percent of women in senior management roles, and only 14 percent in 2004.

In India, 53.4 percent of Chief Executive Officers (CEOs) and Managing Directors (MDs) are undertaking various efforts to enhance diversity and inclusivity.

Additionally, 19.6 percent of Chief Operating Officers (COOs), 18.2 percent of Chief Financial Officers (CFOs), and 17.2 percent of Chief Diversity Officers (CDOs) are actively involved in promoting inclusivity and diversity in the country.

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