In logistics, where female participation has been low, Mahindra Logistics is pioneering change. Its Community Centre of Excellence aims to train over 500 individuals, including women, in FY25 alone. Programmes such as Udaan (for returning professionals) and Ignite U (for young hires) focus on hiring and upskilling women across functions. “One of our women leaders turned around service levels for a luxury automaker in under three months, earning 80% dealer appreciation,” says MD & CEO Rampraveen Swaminathan. “Our diverse teams have fuelled innovation and agility, enabling us to adapt better to evolving customer needs.”

Being an enabler

The intent to build diverse teams can be fulfilled only when organisations walk the talk on creating an enabling environment. Had ReNew not arranged for transportation, accommodation, and security of its women employees on remote locations, having a diverse workforce would have remained a mere dream.

Shiprocket’s "Aarambh" initiative provides funding and mentorship for women. "Women entrepreneurs are a significant force in India's MSME sector, owning 39% of registered businesses. They leverage e-commerce to break barriers and drive growth, supported by government initiatives like the amended Public Procurement Policy and Yashasvini. Yet, they face challenges like limited funding and societal biases. At Shiprocket, we support women-led ventures through Shiprocket Aarambh, offering a platform to pitch ideas and access resources, driving a new wave of entrepreneurship," says Saahil Goel, MD & CEO of Shiprocket.

Meghna Agarwal, Executive Director & COO, co-working space company IndiQube, believes a diverse workforce brings new perspectives, experiences, and ideas to the table, enabling a better understanding of clients' needs. "In commercial real estate industry, where customisation and client-centric solutions are key, this diversity allows us to create spaces that resonate with enterprises," says Agarwal. She says women leaders and team members have brought a unique perspective to problem-solving and decision-making in IndiQube.

She believes in todays world, promoting gender diversity is no longer necessary. "We have women who are equally capable, have the right set of skills and are passionate about what they do. We just need to create conducive environments that enable these women to thrive."

ReNew’s Sinha says D&I should be a leadership agenda. “One of the criteria that our board evaluates our CEO on is the impact he has made on diversity and inclusion. The top management reporting to the CEO is also assessed on their D&I contribution in line with the company’s overall D&I target. Our target is to have 30% women by 2030.”

FMCG major Hindustan Unilever has built hostels for its women employees on the campus of its Sumerpur factory in Eastern Uttar Pradesh. This enables women employees to work night shifts. For those coming from nearby villages, there are buses with security to pick them up and drop them off. These initiatives have resulted in an over 40% diversity rate on the shop floor of that particular factory. Similarly, L&T pays an allowance to women engineers posted in remote locations to hire caregivers for their toddlers. In the electronics division of L&T Precision Engineering & Systems’ Talegaon factory near Mumbai, women make up for around 80% of the workforce in the assembly section. They assemble critical circuit boards for missiles, which are then dispatched to different missile manufacturing facilities under the Defence Research and Development Organisation.

Mahindra Group’s five-year maternity policy, launched in 2023, supports a woman employee right from the day she decides to have a baby till her child goes to playschool. The company also supports women opting for IVF. “We cover 75% of the cost and offer a week of paid leave. We give 26 weeks of maternity leave in case of adoption or surrogacy. We offer 45 days of leave to support recovery after a miscarriage,” explains Kharga.

The greatest worry a woman has after she is back from maternity leave is whether she will have a meaty job to do. “The five-year policy includes a ‘three-year support at work’ after a woman is back from maternity leave. We offer flexible roles and sabbaticals for up to a year. Career assurance is central to our maternity policy. If a woman employee is eligible for a promotion during maternity leave, she receives it or is offered the same role or an equivalent one upon her return,” Kharga adds.

India needs to add 145 million “missing” women into the workforce by 2047 to achieve a 70% female labour force participation rate [FLFPR] and reach its GDP goal of $30 trillion. Without intervention, the country is projected to add only 110 million women, with an FLFPR of 45%, leaving a huge gap, according to an October 2024 study by Magic Bus India Foundation and Bain & Co.

India’s growth story is unlikely to play out fully without enhanced women’s participation in the labour force, believes Navneet Chahal, partner, Bain & Co. “The country can unlock $14 trillion in economic value from women alone, making a significant impact on its journey to a $30-trillion economy by 2047.”

Is India Inc. ready to unlock its full potential by truly leveraging the power of gender diversity? Progressive organisations are surely making the right moves.

(With inputs from Ajita Shashidhar)

FLFPR

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