Rate of attrition among women at the top management posts is 4 percent, as compared to 8 percent attrition among men
A study has revealed that the rate of attrition of men in top management posts is nearly twice the rate of attrition of women.
The Working Mother and AVTAR Best Companies for Women in India study said that the current attrition rate of women in C-Suite Level stands at 4 percent, half of the 8 percent attrition among men at the same level.
The study further revealed that the average attrition rate of women across levels remained significantly lesser than men.
At the entry level, it was 28 percent for women and 34 percent for men. At the managerial level it was 12 percent and 16 percent, while at the senior managerial level it was 8 percent and 12 percent for women and men, respectively.
However, hiring of women saw a 2.5 percent dip between 2017 and 2018. While in 2017, 36 percent of all hires were women, in 2018 it went down to 33.5 percent.
While the promotion rates of men and women were at par at C-Suite level (at 5.3 percent and 5.6 percent, respectively), at the mid-management and senior management echelons, men were 3 percent more likely to be promoted than women.
The Best Companies for Women in India (BCWI) study aimed to identify best practices and policies followed by companies for increasing women's workforce participation.
The third edition of the study in 2018 was conducted among 345 employers in the country and listed the 100 best companies for women in India.
The report noted that there has been increasing focus among participant companies in the holistic well-being of their employees, specifically women.
To help the returning mothers reintegrate themselves to their workplaces, 71 percent of the 100 best companies have Formal Phase-Back Programmes (structured reintegration programmes for returning mothers).
Also, 49 percent of companies provide formal support to counter post-partum stress and depression (up 11 percent from 2017) through innovative practices like Buddy Mother Networks and pre-scheduled Stay-in-touch days. Such programmes help in containing maternity attrition.
Saundarya Rajesh, Founder-President, AVTAR Group, said, "Women hiring has seen a dip between 2017 and 2018; at mid-management levels, men continue to be more likely to be promoted. Consistent focus to ensure osmotic reach of the inclusion intent is the way to go."
The selection was based on data of highest order granularity spanning seven key policy clusters, namely, workforce profile, flexible work, women's recruitment and retention, benefits and work-life programmes, parental leave, company culture and safety, as provided by the applicant companies.The top 10 best companies for women in India (2018) are listed below (in alphabetical order):
- Accenture Solutions
- Barclays Global Service Centre
- Deloitte in India
- IBM India
- Shell India Markets
- Tata Consultancy Services
- Tech Mahindra
- Verizon Data Services India