Women are underrepresented in leadership positions in different sectors In India: Mercer study
India Inc still has a long way to go to achieve true gender equality in the workplace, according to results from Mercer’s 2021 Total Compensation Survey (TRS) in India, highlighting the state of women’s participation in the Indian workforce and their representation in leadership positions and inclusion.
As part of the survey, nearly 80% of respondents reported gender ratios for their various jobs, with data indicating that companies are focusing on improving their diversity efforts.
This report has been published to mark International Women’s Day 2022 with this year’s theme focused on breaking down prejudice.
The Mercer survey gathers data from More than 900 companies, distributed in 5,700 positions and more than 14 lakh cumulative employees. The study analyzes how the insufficient representation of women in leadership roles continues to impact pay equity.
The data showed the continued trend of improving women’s representation at the professional level, ranging from 20-30% across all industries. In the tech sector, women’s representation was 43% at entry levels, but representation was drastically reduced to 12-17% at the executive level, and was 4-8% at the senior level. direction.
Industries with better female representation were IT, customer service, engineering and science, human resources, data analytics, and business intelligence, among others. Jobs such as Legal, Compliance and Audit, and Sales, Marketing and Product Management had low female representation.
Revealing an interesting insight while keeping all variables the same, the study showed that the ratio of female to male earnings was 95-99% at entry level. Unfortunately, this ratio dropped drastically when it came to female mid-to-senior executives who only earned around 87-95 percent of their male peers. Some of the reasons for the pay cut were slow promotions, development opportunities, and representation of women in roles that drive organizational value creation or P&L ownership.
In a press release, Mansee Singhal, Sr Principal, Rewards Consulting Leader India, points out:
“The concept of gender equality is entrenched in the Indian Constitution. Organizations are broadly committed to diversity and inclusion, but there seems to be a lack of accountability to drive progress internally. While new labor codes focused on improving women’s employment, pay and workplace safety are welcome, companies must make rapid progress to truly integrate and empower women. Our research shows that if women’s representation improves in roles closer to value creation, then equity would appear to be a more achievable goal.
The Mercer Total Compensation Survey was conducted in the second half of 2021 and can be used as a single source of data and market insights across industries and jobs. It includes information on salary trends across industries and sectors, premium on new hire salaries across tenures, and sectors that have had the most difficulty recruiting and retaining talent. The survey included responses from sectors such as technology, services, life sciences, automotive, manufacturing, logistics, energy and consumer, among others.