Press release from Business Wire India
Source: naseba
Monday, May 03, 2010 11:53 AM IST (06:23 AM GMT)
Editors: General: People, Social issues; Business: Business services, Media & entertainment
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Grant Thornton's Report 'The Mascots of Change' Explores Women in Leadership
Bangalore, Karnataka, India, Monday, May 03, 2010 -- (Business Wire India) -- A report by Grant Thornton India reveals that while there have been huge changes in the perception of a woman's role in society and women today enjoy more opportunities than ever before, they still haven't managed to break the glass ceiling, in India or elsewhere.
The report, entitled Women in Leadership -The Mascots of Change presents a clear overview of women in the community today. In addition to presenting global and national statistics, it features encouraging personal perspectives from Indian women at the top of their game.
According to the report, the key challenges for women lie in balancing their professional and family lives. Karishma R. Phatarphekar, partner for Grant Thornton India commented, "Though an increasing number of women are in senior most positions today, it's still male dominated at the top since most women have to cope with multi-tasking and striking a balance between personal and professional life."
Indeed, the percentage of women in senior management roles in India is on the rise increasing from 14 to 15 percent in the last year, however, the country still ranks in the bottom five on a global scale. Additional statistics show that in India, women constitute more than half the population and represent 36 percent of the labour force. With this in mind their significance and contribution to the economic and social development of the country cannot be underemphasised. Dr. Linda Spedding, International Lawyer and Founder of Women in Law, elaborated, "There is some evidence that companies with three or more women on their boards had an 83 percent greater return on equity than companies with the lowest representation." They also have a 73 percent better return on their sales and a 112 percent higher return on invested capital.
Statistics such as these are encouraging women in corporate India to advance in the career of their choice be it finance, engineering, communications, manufacturing, police or civil services. According to Nidhi Maheshwari, Director - Markets, Grant Thornton India, "India Inc. is more receptive. Owing to their academic and professional competence, urban women have more job opportunities than ever. Rural women, on the other hand, ought to be given more assistance. It is the need of the hour that women get a seamless access to quality education and healthcare. A holistic approach in this matter can boost the ongoing reforms in the country at all levels."
In rural India, women still have some way to go, but this is more to do with lack of opportunity than lack of determination. Nirmala Buch, former Chief Secretary of Madhya Pradesh and Founder of Mahila Chetna Manch commented "Our rural sectors have unbound energy, talent and willingness to drive the entire country towards a better tomorrow, and it is only the absence of a platform and support system that they do not fulfil their abilities."
These and other contradictions are apparent across the board. For example, according to the Women, Business and Law database of 2009, women in India enjoy excellent employment rights, and are equal to men, by law, in most capacities. Their maternity benefits include being paid 100 percent of their salary for a minimum of 84 days by their employer and the retirement age for men and women is the same. However Indian women still do not enjoy equal inheritance laws as their male counterparts, despite having the same property ownership rights.
Women clearly still have some way to go in many respects and complacency cannot be allowed to set in as it is not just legal challenges that women face but internal conflicts.
Kiran Majumdar Shaw, Chairperson and Managing Director, Biocon Limited, said, "I do believe that women are being provided greater opportunities to participate in strategic area of management. The major concern that continues to plague women managers is mobility and transferability." She elaborated, "Women are forced to give up senior management responsibilities if their spouses are transferred...women are also less willing to undertake extensive business related travel and both these put them at a disadvantage."
This and other issues will be addressed in more detail during power panels, presentations and focused discussion groups at the Women in Leadership Forum, India from May 6th - 7th at the Sheraton Hotel, New Delhi. The forum is hosted by business information group naseba in partnership with Grant Thornton India.
About naseba
naseba group produces promotes and hosts commercially oriented congresses and forums targeting executive level attendees across multiple vertical industries. Each event is focused on re-education, networking - and most importantly - creating a 'deal-flow' platform for all participating organisations. Whether the 'deal' is capital raising, vendor sales contracts or sourcing a strategic partner, naseba provides clients with an unprecedented, high-ROI environment for conducting business. An in-house team of experts conduct extensive research in conjunction with recognised thought leaders to ensure that all events are relevant, timely and at the forefront of market and industry trends.
naseba works in partnership with leading media, industry and local authorities such as International Data Corporation (IDC), TIME, CNBC Arabia, BBC World, zawya, Council of Saudi Chambers, SAGIA, Principality of Monaco, Singapore Tourism Board, Abu Dhabi Health Authority, Egyptian Ministry of Civil Aviation, Ministry of Economy - UAE, Ministry of Environment and Water - UAE, Qatar Civil Aviation, the Government of Dubai and many others.
naseba is listed on the Paris Stock Exchange and since inception in 2002 has organised over 350 events and played host to 52,000 executive delegates globally. Operating from five strategically located offices across the globe, naseba has on-the-ground presence in Monaco, Dubai, Bangalore, Singapore and Cairo.
At naseba, we make it happen.
For more information on naseba, please visit www.naseba.com
About Grant Thornton India
Grant Thornton India is a member firm within Grant Thornton International. The firm was established in India in 1935 and is one of the oldest and most reputed accountancy firms in the country.
Today, the firm has grown to be one of the largest accountancy and advisory firms in India with nearly 1000 professional staff based out of New Delhi, Gurgaon, Mumbai, Bangalore, Chennai, Hyderabad, Pune, Chandigarh, Ahmedabad and Kolkata.
The firm organises its client services teams internally in the following business units:
. assurance services
. tax & regulatory services
. advisory services
For more information, visit www.wcgt.in
CONTACT DETAILS
Mitha Ittycheriah, naseba, +91 (80) 30222017, mithai@naseba.com
KEYWORDS
PEOPLE, SOCIAL, BUSINESS SERVICES, MEDIA
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