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Celebrating Women

Renjini Liza Varghese


Every International Women’s Day, I am invited to some unique programs or initiatives. This year, I received an invite to a forum hosted by NuernbergMesse India.  The company and NM Health hosted an event to celebrate successful women in Mumbai. The thought of putting together such a program deserves well-deserved appreciation.

A room full of successful women from various segments filled the atmosphere with laughter,  enthusiasm, hope, and a chance to connect with like-minded people, to say the least.

Bernhard Steinruecke, Member of the Board, NuernbergMesse India, mentioned in the opening remark that even in a country like Germany, of the 40 top companies, only one has a woman CEO. He added that though women are represented equally at various levels, the gap widens for the top spot.

As a person working in the ESG/Sustainability space, with a special focus on DEI, I want to mention a couple of facts here.  India’s image is more encouraging. According to Grant Thornton’s International Business Report for 2023, the percentage of women in senior management roles in mid-market Indian businesses is 36%, which is higher than the global average of 32%.

Rahil Shah, Managing Director of NM Health, spoke about the unique all-women diagnostic centre in South Mumbai. This was established to make the female patients feel comfortable as the number of women visiting centres has increased.

Anju Kish, Founder & CEO, UnTaboo – A Safety & Sex Education company, spoke about the need to make people aware of safety. She also touched upon the changing approach to sex education, especially at the grassroots level.

Let me reiterate that in sex education, Mumbai was way ahead. In 2002, the efforts of Brihanmumbai Municipal Corporation (BMC), the Mumbai District Aids Control Society (MDACS) & Dr Prakash Sarang culminated in Antarang – Sex Health Information Art Gallery (Antarang Museum) to educate the young and old about the human body, sexuality, and AIDS. It was the first sex museum in Southeast Asia. Unfortunately, it shut down in 2013.

Evidently, the women at the event had climbed to the top position, toiling through tougher terrain. Each woman had an inspiring story. I came back with renewed vigour to empower more women around me.

 


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The Paradox of Women’s Leadership

Renjini Liza Varghese


Every year, International Women’s Day sparks a flurry of women-led activities. These include special news coverage, initiatives, awards, and recognition ceremonies. I want to draw everyone’s attention to the recurring euphoria of increased attention to women’s issues and gender diversity, and then a decline in focus throughout the rest of the year.

One of the latest initiatives involves the role of women in leadership and the corresponding antithesis. The increase in women in leadership roles is accompanied by a surge in gender-related jokes and memes, highlighting the superficial nature of progress.

While celebrating the increasing number of women in senior leadership positions is crucial, a more sustainable approach is needed. Implementing environmental, social, and governance (ESG) practices has led to a positive shift in the male-female ratio at leadership levels.

According to a McKinsey report:

a) 26% of women hold C-suite positions, 32% are VPs, and 28% are senior leaders (McKinsey, 2023).

b) Only 1 in 4 C-suite executives is a woman, and only 1 in 20 is a woman of color.

India’s image is more encouraging. According to Grant Thornton’s International Business Report for 2023, the percentage of women in senior management roles in mid-market Indian businesses is 36%, which is higher than the global average of 32%.

Furthermore, India’s share of female leadership positions in 2022 was 39%, higher than the global average of 31%. What’s interesting is that women are driving sustainability initiatives in the corporate sector.

The emphasis needs to be on appointing more women as Chief Sustainability Officers (CSOs) while recognizing the important role they play in corporate social responsibility (CSR) initiatives. This change is important for a number of reasons:

a) Empathy and environmental protection: Since women are generally seen as having greater compassion, businesses may place a greater emphasis on environmental protection.

b) Prior CSR experience: A large number of women occupy leadership roles in CSR, which equips them with the necessary skills to incorporate sustainable practices.

c) Emphasizing the social component of ESG: Women in CSO positions would guarantee that the social component of ESG gets the attention it deserves.

Today’s blog is about promoting a just and progressive change. We are by no means demanding out-of-turn promotions or unregulated reservations. Companies can gain access to a diverse range of perspectives and experiences by actively promoting women across management roles. These are essential components for creating truly inclusive leadership and a strong corporate culture.


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