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Study says attrition rates lower for women in corporate sector

Chennai | Updated on September 17, 2018 Published on September 17, 2018

Saundarya Rajesh, founder-President, Avtar Career Creators   -  BusinessLine

The attrition rate of women in C-Suite (CEO, CFO, COO and CIO) level stands at 4 per cent, half that of men’s, according to the third edition of the Best Companies for Women in India (2018 BCWI) study, conducted by the city-based AVTAR group and the US-based Working Mother Media.

The study found lower attrition rates among women at all levels of corporate hierarchy.

‘Invest in women’

At the entry level, attrition level among women stood at 28 per cent in comparison with 34 per cent of their male counterparts. In managerial and senior managerial levels too, women employees fared better at 12 and 8 per cent, respectively. For men in this category the rates stood at 16 and 12 per cent.

“The 2018 BCWI data tells us just that — invest in women, they will leave you less!” said Saundarya Rajesh, founder-President, AVTAR Group.

The study also showed companies that invest in developing leadership qualities of women are more likely to retain their talent.

Despite lower attrition rates, hiring of women saw a 2.5 per cent dip between 2017 and 2018. While 36 per cent of all hires in 2017 were women, it was 33.5 per cent in 2018.

The study found that the promotion rates of men and women were at par at C-suite level. At mid and senior-management levels, men were three per cent more likely to be promoted than women.

Parameters in focus

The study conducted among 345 employers across the country also listed the 100 best companies for women in India.

Some of the prominent companies to figure in the top 10 list include Accenture, Deloitte, Ernst & Young, IBM, TCS and Shell India.

The study, aimed at identifying best practices and policies followed by companies for increasing women’s participation, focussed on parameters such as workforce profile, flexible work, women’s recruitment and retention, benefits and work-life programmes, parental leave, company culture, and safety and security.

Subha Barry, Senior VP and MD, Working Mother Media   -  The Hindu

 

“The exemplary companies that made the 2018 — 100 Best Companies for Women in India list represent the most progressive companies for women. We applaud their vision and efforts to create and sustain a work environment where women can advance and thrive,” said Subha Barry, President, Working Mother Media.

Published on September 17, 2018
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