Gender inequality has been a longstanding issue in the workplace. Despite steady progress over the years, women still have to jump over some significant hurdles in their careers before getting that elusive promotion and receiving pay that's at par with what men earn. Breaking down these barriers is crucial for creating a more inclusive and considerate workplace that benefits everyone. It's time to take action and prioritise gender equity in our workplaces.

The most noteworthy barrier women face in the workplace is gender bias. This bias can take many forms, including unconscious bias, stereotyping, and discrimination. An IBM Corporation-sponsored study in 2007 stated that gender stereotypes lead to misinterpretation of the actual talents of women leaders and can potentially result in undermining the contributions women make to their organisations and their own advancement. While women leaders want to advance just as men, they face more resistance. As per the 2022 Women in the Workplace report by McKinsey, in partnership with LeanIn.Org, for every 100 men who are promoted from entry-level roles to manager positions, only 87 women are promoted. Men outnumber women at the manager level as a result, and there is no way women can catch up. Simply put, there aren't enough women to advance to senior leadership positions. Only 4% of Fortune 500 CEOs and 2% of S&P 500 CEOs are women at the moment. And these numbers are declining across the globe.

Other studies have shown that women are often judged more harshly than men on their performance, leadership style, and ability to balance work and family. Indeed, lack of support for family responsibilities, limited opportunities for advancement, and the pay gap are also significant issues. Addressing these barriers is crucial for creating a more diverse and inclusive workplace that benefits everyone. Implementing fair compensation and promotion procedures, family-friendly policies, and providing training and mentoring programs on diversity and inclusivity to sensitise employees is a step in the right direction to building an inclusive company culture. These initiatives can promote awareness, eliminate bias, and support women's career growth, leading to a more diverse and successful workplace.

According to a CNBC and SurveyMonkey Workforce Survey on happiness in the workplace, around 80% of those surveyed consider diversity and inclusion to be significant at work. Nonetheless, almost a quarter of respondents felt that their employer is not taking sufficient action in addressing these issues. Workers desire a workplace that appreciates and treats them equitably. By emphasising diversity, equity, and inclusion, we can attract and retain exceptional employees to create a workplace that is productive and successful. Let's all come together to work towards ensuring our workplace truly values and supports women.

Impact of women on the Indian economy

Women's economic empowerment is essential for the growth and development of any nation, and India is no exception. In recent years, there has been a growing recognition of the important role that women can play in driving economic growth. According to a report by McKinsey Global Institute, if women's participation in the Indian economy is increased to the same level as men's, it could add $770 billion to the country's GDP by 2025.

Improved opportunities for women could increase the contribution of women to the GDP, which currently stands at 18%. The majority of the Indian economy is still dependent on agriculture, at least in rural areas, and women's contributions have helped the agrarian economy prosper. Women also contribute more to labour-intensive manual labour than men do. 97.6 million women, or about 37% of all agricultural workers, are employed in the sector, according to the 2011 Census.

Despite the potential benefits, women in India still face significant barriers to economic participation. According to a study published on Statista in 2022, there were approximately 1,020 women for every 1,000 men in India as of 2021. This was the first time, according to the source, that women outnumbered men in the nation. While the female labour force participation rate in India stands at just 23.3%, one of the lowest rates in the world, there are signs of progress.

The number of women-owned businesses in India has been steadily increasing, with a growth rate of 58% over the past decade. Today, more women are entering fields such as technology and entrepreneurship that were once dominated by men. Programs such as the National Rural Livelihood Mission and the MUDRA Yojana are providing financial assistance and relevant training to women entrepreneurs.

To fully realise the potential of women's economic empowerment in India, there is a need for further policy initiatives and social changes. This includes promoting gender equality, providing better access to education and training, and creating an enabling environment for women entrepreneurs. By doing so, India can not only drive economic growth but also promote gender equality and social development.
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