november cover story - banking on women
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The rising trend of women leaders in the Indian financial sector has broken the myth of the glass ceiling. We explore the reasons behind the rise, their challenges and what other sectors can learn from BFSITRANSCRIPT
www.peoplematters.in
www.peoplematters.in
www.peoplematters.in
Women hold only 14 per cent of the board seats at S&P Composite 1500 Index companies, according to Ernst & Young. Women in Asia occupy just 1.1 per cent of CEO, CFO, country head and related positions, according to a 2012 Catalyst study
The demand for top-level women executives for the seniormanagement is growing among India Inc. Companies have realized that hiring women leaders has massive benefits and makes good business sense. Companies with female board representation routinely outperform those with no women on the board, as per a recent study by the Credit Suisse Research Institute
Organizations need to make sure that recruitment is merit-based, with no concern for gender & no typecasting of jobs. It should be a search for talent and not gender
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One of the major growth constraints that women face in the BFSI sector is mobility as you get transferred from place to place, at least once in two to four years.
We already have a good number of women in BoI, but not at the top level. All the board members are men apart from me. There is no gender diversity there. I would like to change that.
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Banking is building relationships with trust and women have that adaptability. Women easily adapt to their surroundings compared to men. By nature, they take initiatives,drive goals, like to develop andnurture people.
I push women to take up promotions, Itransfer them. When you travel and seethe world, it changes your life. Womenmust take up a lot of initiatives and be innovative in their approach as it will givethem visibility.
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Support systems among women colleagues are a big motivator. People who have moved up to middle and senior management levels are able to nurture & talk to some of their younger colleagues.
A lot of financial institutions start and grow in urban centres where the social strata are definitely more accommodative than a rural location. Diversity ofviews and personalities keeps an organization a lot more agile.
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Mentorship contributes 50 per cent to a woman’s development. The other 50 per cent is her own talent.
Though women constitute 17 per cent of the workforce in banks, their representation at the executive cadre is quite low at 2.66 per cent.
Banking on WomenNovember 2013
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