Atleast 39 per cent of Indian companies are employing women in CXO positions, outpacing the global average of 32 per cent, according to a report by LONGHOUSE Consulting.
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The survey report titled, “The State of Women Leadership Hiring in India” showed 98 per cent of businesses in India have at least one woman in senior management roles, surpassing the global average of 90 per cent.
Further, 40 per cent of Chief Financial Officer (CFO) positions and 50 per cent of HR Director positions in India are now held by women, showcasing a departure from traditional norms and stereotypes.
The historic trend suggests that year-on-year, women’s representation in executive boards increased by a significant 2 per cent in 2023. Currently, women hold 12 per cent of the board seats in India.
The report underscores the importance of gender diversity in C-suite roles, revealing that 30 per cent of these positions actively require the presence of women professionals to establish parity in workplace opportunities. Encouragingly, 49 per cent of companies are proactively building an inclusive culture through mentoring and coaching initiatives aimed at upskilling women.
Anshuman Das, CEO and Founder of LONGHOUSE Consulting, said, “For India Inc., inclusive leadership is more than a goal, it’s a commitment to unlock the full potential of every individual, irrespective of gender. Promoting women in leadership requires a ground-up approach, with male leaders playing a pivotal role. Encouraging aspiring women leaders through dedicated mentorship and skill development initiatives is essential.”
Despite these encouraging trends, the share of women in senior-level positions remained at 20 per cent in 2023 and trails behind lower experience levels. The overall data on women’s workforce in the report showed a positive trajectory in women’s employment, reaching 37 per cent in the fiscal year 2023 — representing an absolute increase of 13.7 per cent and a rise of 58.8 per cent from 23.3 per cent in 2018.
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This upward trend, attributed largely to various initiatives by the Government of India, reflects a nationwide push to improve employment opportunities and empower women through progressive policies and schemes.