Owing to their inherent emotional intelligence, women in the workplace add to the much-needed empathy and sense of social responsibility, said various leaders from the startup world that Moneycontrol spoke to. They also talked about the initiatives startups are undertaking in order to offer a more supportive workspace for women.
Recently, the Gender Balance Study released by Sodexo, a facilities management firm, found that gender-balanced teams led to a 4-point higher global engagement rate, a 5-point increase in brand image, a 12-point jump in client retention, and an 8-point rise in employee retention.
Additionally, a McKinsey study noted that companies in the top quartile for gender diversity are 25 percent more likely to have above-average profitability.
"Startups have become a major engine for job creation in the past decade. They are creating new types of jobs that did not exist before, as well as enabling new ways of working," said Aakanksha Gulati, Director at ACT Capital Foundation, a non profit venture philanthropy platform.
Women in power instil a sense of respect among the male employees for the rest of the female workforce.
"One realisation is that having just a couple of women, or even just a single woman, in a position of power changes and radically improves how much respect the male counterparts show towards the rest of the female workforce," said Lakshit Anand, Co-Founder, Wendor.in, a manufacturer of smart vending machines.
Startups have also played a pivotal role in investing in hiring women, and also been able to retain them, said Gulati.
"Many of the stereotypes around startups being aggressive, unpredictable spaces that are unfriendly to women are slowly being dismantled," Gulati added.
The work culture at startups offers greater scope for the appreciation and recognition of one’s efforts, said Shivakshi Sharma, who works as a software engineer with a startup.
"One’s efforts are appreciated and one is given credit for the work done, and this is the biggest motivating factor which helps us put in more effort and do more. Every person feels they belong to the company and do the work as if it's their own," she added.
Better work conditions for women
Companies like, Swiggy, Zomato, BYJU's, Wendor, Scaler, and more have been undertaking initiatives to offer a more positive work culture for women.
"As a strong advocate of building support systems for women, there are several policies in place for the same at Byju's, such as period (menstrual) and childcare leave," added Divya Gokulnath. Co-Founder and Director, Byju’s.
Startups have started to recognise the need for flexibility and a culture that enables a productive workforce, according to Midhula Devbhaktuni, Co-Founder and CMO, Mivi, an electronics firm.
Women-friendly policies can lead to a better work-life balance for the female workforce. "Our policies ensure that we provide equal opportunity to all, with a special focus on the challenges faced by women. We recognise the challenges faced by our female employees with young children, and offer more generous leave policies to women with children under the age of 10," Devbhaktuni added.
Sharma believes that period leave is one of the best initiatives she has witnessed. "Thinking of the women in the organisation and ensuring their well-being is something all firms should practice," she added.
"Startups typically feature smaller teams and flatter hierarchies, giving women employees more opportunities to make their mark and have their voices heard. Women can take on challenging assignments and have the chance to make a perceivable difference in the company," said, Srividya Kannan, Founder & CEO of Avaali Solutions.
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