This is a comprehensive study on data related to the gender issues for listed Indian companies across sectors and market capitalization. We have analyzed trends on women participation in the workforce and remuneration data across different levels.
Report Overview
In March 2023, we published Mind the Gender Gap: Analysis of Women’s Participation, Pay, and Other Measures in Indian Public Companies. This is a follow up report in which we look at data for the subsequent year and in addition, a) we have expanded the coverage of companies from 134 to 300, b) the sample set has reasonably diverse representation in terms of sectors and market capitalisation, and c) we did a deep dive on remuneration data across different levels.
Our key findings are, a) Women constitute less than 20% in the overall workforce and their representation of women is not very different under the categories of differently abled workforce, and Board of Directors (BoDs). The disparity is more pronounced among key management personnel (KMPs), where only ~10% are female, b) Female Board Members and KMPs receive significantly lower compensation compared to their male counterparts, and c) the median remuneration for an overall category such as employees, masks systematic differences among job roles, and hence, the analysis of gender pay parity is challenging due to the lack of role-specific data.
We recommend, a) the Companies must improve disclosures, related to remuneration and we recommend additional granularity within employees based on hierarchy of roles and clear definitions on what those job levels mean, b) beyond board diversity, there is a need to improve diversity within senior management. We also recommend additional granularity within BoDs and KMPs on job levels to understand significant difference in remuneration between men and women.