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Gender Wage Parity
Gender Wage Parity
Concerns
India’s overall female labour force participation (FLFP) rate has dropped from 35% in 1991 to 27% in 2014 while the world average is around 50%.
India is ranked among the worst of 48 countries in terms of female leadership as per a nonprofit researcher, the Conference Board’s extensive survey.
Way forward
Without deep organisational beleif, the effect of all policy measures will remain superficial and even counter-productive
A widely covered IMF estimate points out that shrinking the gender differences in employment could expand India’s GDP by 27%.
. Societal change will be the largest needle mover, but a constant push through the government, organizations and individualsis critical to bend societal norms for the
better.
ECONOMIC BENEFITS
In terms of abilities and skills women are second to none. Their addition into workforce raises the quality of workforce. It also brings in competition necessary for
efficiency and effectiveness in economic sphere.
Women participation also need some pre-established infrastructure like roads, transportation facility, electricity and security. All these have direct impact in boosting the
economy
Analysis
Because of criticality of women's role in family, the system of gender parity has to be evolved through its own pace and not in dictated terms. Otherwise, there could be
unforeseen implications of gender parity, such as - breakdown of family, improper parenting, are few to name.
When we look at west and appreciate the gender parity, we also have to appreciate the way it was evolved through time, They have been modernised and democratised
2 or 3 centuries before us.
We also have to look at the fragility of institution of family, especially in USA. Rates of divorces and cases of single parenting are rampant.
Thus, it is prudent to facilitate gender parity in Indian society through a steering mechanism and adding fuel wherever it requires. It will require a judicious mix of pro-
women legislations, such as Hindu Marriage Act, Succession Act, Anti-Dowry Act, Protection of Women at Workplace Act, etc
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it is not just the moral or the constitutional requirement but also the necessity of time to stop neglecting this tremendous reservoir of potential and assimilate them whole
heartily into the socio-economic setup of the nation.
Women in banking
In India, only one in 10 companies across all sectors have a woman at the helm, but more than half of these are from the financial services sector
Reasons:
Women tend to be more conservative, more structured, more careful about money, good leaders and better team players
Banking requires sound instinct and intellectual capability to analyse businesses.Women are better at it.
Banking requires a lot of reliance on external network and research suggests women are very strong in external networking and more objective and performance-
oriented in their roles within the organisation
banking does not present women with the challenges and stereotypes other sectors such as manufacturing pose. Unlike in manufacturing, banking in a way, did not have
a shop-floor (and therefore no problem of women having to do night shifts)
banks started to intentionally build diversity much earlier than other sectors.
Banking as a career offers women the opportunity to better balance their family and professional careers,
Other sectors has to do many things to create enabling environment for women to reach top posts and promoting women empowerment-
Flexible benefits like during maternity, work from home options, providing child care centres at work places.
Majority of women being in unorganized sector, proper facilities like rest rooms, full pay, benefits like health and life insurance etc are denied. Sectors like MSMEs can
thrive if these facilities are provided.
Strict Implementation of laws like Prevention of Sexual harrassment at work place, 2012 etc would help in creating a positive environment. Creating special women cells
to handle such problems would help in empowering women and curbing such issues.
Equality in areas of pay, perks, assignment of work, career opportunities etc can help in better and quicker development of their career profiles on par with men.
In public sector areas like law and order maintenance etc it is creating of reservations in jobs and new women wings can help in both capacity building along with
bringing gender parity.
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