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Wipro Ltd has lent its support to strengthen women’s role in corporates by signing up for Women’s Empowerment Principles (WEPs).
It has joined six other Indian firms including CARE India, Global Compact Network and UN Women who are encouraging Indian private sector companies to become signatories to these principles. The consortium will conduct research to identify gaps within current corporate policies that limit women’s participation and involvement in the workplace.
According to a McKinsey report, ‘Women Matter 2011: An Asian Perspective, Harnessing Female Talent to raise corporate performance’, India has the greatest gender gap between university graduates and entry-level professionals: 42 per cent of graduates are female but only 29 per cent of entry-level professionals are female.
India’s declining women’s labour force participation rate, which is currently 24 per cent (NSSO, Govt. of India, 2009-10), is one of the lowest in the world. In such a scenario, businesses need to proactively implement policies that ensure the inclusion of women’s talents, skills and energies — from executive offices to the factory floors and supply chain, according to industry watchers.
“This move will encourage others to follow suit and ensure better working conditions and opportunities for women,” said Anne F. Stenhammer, Regional Programme Director, South Asia Sub-Regional Office, UN Women.
“It is imperative that organisations are equal opportunity employers both in spirit and practice as this helps us do business better,” said T.K Kurien, CEO, IT Business and Executive Director, Wipro Ltd.
The six signatories in India have committed to creating women-friendly workplaces, ensuring equal opportunities for women and investing in skills training. Since the inception of the WEPs, over 466 companies globally have signed the UN Women CEO Statement of Support and have set their own priorities, goals and programmatic approaches to achieve their mandates.
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