Inclusivity is key

In a 2012 document on gender diversity in India’s workforce, Catalyst, a nonprofit, predicted that there will be a shortage of 750,000 skilled workers over the next

In a 2012 document on gender diversity in India’s workforce, Catalyst, a nonprofit, predicted that there will be a shortage of 750,000 skilled workers over the next five years. It suggested that companies can overcome this talent gap by engaging a “key component” of economic growth — The skills and talents of women. The news is far from positive: A survey by ProEves, a gender diversity consulting firm, reveals that woman participation in India Inc has been stagnant at less than 20% for the past three years. Compared to the US, India is at half the women participation across all employee groups.

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The reasons for such low participation of women in the workforce are well known: Discrepancy in policies and implementation (the survey shows that 61% of the companies have a stated goal on diversity but only a third have a number target and have no target association on inclusion for leaders), lack of flexible policies in workplaces and the larger issues of child care support system, commuting, infrastructure, safety concerns, education and training. Data also suggests that women in India are largely employed in the informal sector such as domestic work, where incomes are low and there are limited benefits or job security. Here is why it is important to bridge this gender gap: A McKinsey report shows the country stands to gain as much as $2.9 trillion of additional annual GDP in 2050 if it manages to get more women in the workforce. Along with education, bringing more women into the workforce also has another critical benefit: It can address pressing social issues such as patriarchy, gender discrimination and violence.

If the country is to become the world’s third largest economy in 2030, it can’t afford to bypass its women from equal opportunity in the workforce. Here’s what must be done to ensure this diversity: More effective measures such as greater investments in secondary and tertiary education, vocational and skills training, and developing and strengthening laws and policies to support working women.