Mumbai, June 13th, 2024.
Herkey, India’s largest career community for women today announced the launch of the 6th edition of the DivHERsity Benchmarking Report 2023 – 2024. The DivHERsity Benchmarking Report is an industry-standard report on women’s representation and diversity in Corporate India. The report provides a comprehensive compilation of data collected from over 300 + companies across India between January 2023 and January 2024.
Trends observed in DivHERsity Benchmarking Report 2023 – 2024 based on the DivHERsity Survey Readings- The DivHERsity Survey revealed that women constitute 34% of the workforce in the surveyed companies. This figure improves slightly to 36% in startups and SMEs, underscoring the importance of inclusive recruitment practices. Notably, large enterprises lead with a 38% participation rate at the entry-level. However, this drops significantly to 19% at mid-management and senior levels, indicating a “broken rung” in the corporate ladder that needs urgent attention. The share of women hired in the C-suite has fallen to 24%, down from 37% in 2022. This drop points to a pressing need for more robust interventions to support women’s progression to the highest echelons of corporate leadership.
Statistics demonstrate that 84% of companies surveyed have dedicated initiatives for recruiting women and 98% of large enterprises have committed to gender diversity goals in hiring, with a noteworthy 88% successfully achieving these objectives. Startups and SMEs are also following suit, boasting a success rate of 97%.
Despite a consistent increase in companies offering paternity leave from 86% in 2020 to 91% in 2023, a concerning dip was observed in 2023, with 12% of companies failing to provide paternity leave compared to last year’s 6%. This trend underscores a persistent lack of attention to the role of fathers in caregiving, highlighting the ongoing need for greater support in balancing professional and caregiving responsibilities.
The report indicates that 82% of large enterprises and 67% of SMEs/Startups now conduct women returnee-specific hiring drives. Survey data shows that the success rate of these returnee programs is very high and 93% of women in large enterprises and 83% in startups/SMEs who go through the returnee programs are then hired into full-time roles at the company.
It’s heartening to note that 96% of large enterprises and 94% of SMEs/startups prioritise flexibility in work arrangements, followed by work-from-home policies practised by 90% of participating companies.
“Women don’t face a constraint on ambition—they face a constraint on opportunity. The DivHERsity Benchmarking Report underscores the need for continued efforts to elevate women to leadership roles. Through campaigns like #strongHERtogether we would like to foster a supportive community where women can share experiences, gain strength, and inspire each other”. said Neha Bagaria, Founder & CEO, Herkey.
The survey highlights the progress made in creating inclusive environments while also shedding light on the challenges that remain. As companies continue to implement and refine their D&I strategies, the focus on elevating women to leadership positions and ensuring equal opportunities will be crucial for sustained success.
The report also includes stats and interesting findings on the following topics: Trends in women’s involvement in the workforce, diversity policies, the effectiveness of programs aimed at helping women return to work, programs focused on the learning and development of women, programs for developing women’s leadership skills, initiatives related to diversity and inclusion, and programs aimed at promoting gender sensitization.
