Around 30% of employers reported a higher-than-average attrition rate for women. Most micro (43%) and small/medium enterprises (42%) have a lower-than-average attrition rate of women.
On the other hand, large multinational corporations (40%) and startups (41%) have a higher-than-average attrition rate for women, which suggests the need for better retention strategies and support for women’s career growth in these organizations, found the report.
The report found that 62% of employers intend to hire more women in STEM in FY 2023-24 vs FY 2022-23, and 38% of employers plan to increase their STEM women’s representation by up to 20% Further, 58% of employers think that gender diversity can lead to higher revenue growth and the acquisition of top talent.
Notably, nearly 31% of employers plan to initiate programs to attract women returning to the workplace, boosting gender diversity. According to industry estimates, globally, India ranks second in terms of the number of female online learners.
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ETtechIt also indicates that the proportion of women enrolling in online STEM courses in India rose to 32% in 2021 from 22% in 2019.The number of women hired in leadership roles in India has increased significantly over the past eight years, shooting up to 24% in 2022, which is 1.36 times higher than in 2015.
In 2022, gender diversity ratios in executive leadership and senior management roles were 17%, and 36% of organizations are looking to increase these ratios.
India’s share of women in senior management is higher than the global average in 2022 38% vis-à -vis 32%.
The World Economic Forum’s 2022 Global Gender Gap Report showed that the share of female founders in India grew by 2.68 times between 2016 and 2021, compared to 1.79 times among men.
