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much more than what we dole out today, or promise during election times. The global GDP could rise by as much as US$ 28 trillion by 2025 if women play an equal role to men in labor markets, for instance. India’s GDP will certainly get impeded by not letting a major part of its 1.3 billion compete equitably. With a huge number of marginalized women at the bottom of the pyramid gaining economic empowerment, our GDP could get almost a trillion dollars annually towards the 5 trillion economy dreams. Businesses can play a more involved role in supporting the government efforts towards inclusion and can learn from global enterprises that have made solid business cases working to close gender gaps. Companies with more women representation have
| July 2021
achieved 22 percent higher productivity, 40 percent better customer retention, and 27 percent more profitability. With less attrition, women employees can bring in major cost savings and reliability. Why is it then that the HR heads not pushing for faster gender equity and helping themselves? Here are a few things HR must do to drive women empowerment and establish it as a true business partner: • Develop an equal opportunity employment policy. Use technology and AI to remove bias on gender, caste, etc., and select employees at all levels based on merit and fit for the position. Numerous studies have found that women have a better chance to land up jobs when their gender is not known (women coders and orchestra auditions).
• Push for a gender sensitivity culture. Review the current practices, and make a conscious shift from gender-neutrality to gender sensitivity. Insist on diversity and inclusion at almost all levels and promote more women internally to next-level roles. Break down the silos to allow women to grab potential opportunities in hitherto maledominant roles. WFH has shown how efficiently women can handle flex timings and productivity issues. In sexual harassment issues, take the side of the woman to protect her rights. • Appoint more women in research and development roles. A study of
Companies with more women representation have achieved 22% higher productivity, 40% better customer retention, and 27% more profitability. With less attrition, women employees can bring in major cost savings and reliability
