51% of Indian listed companies still don’t have a woman on their boards, and the others are resorting to a short cut!
Fact 1: Did you know it was mandatory for all listed Indian companies to hire a woman director on board?
Fact 2: Did you know that as many as 755 of the 1469 companies listed in the NSE have still not adhered to this rule?
The Optimist in us sees signs of change in Fact 1 while the Pessimist is not at all surprised to hear about Fact 2.
Now, how’s this for another fact?
Fact 3: Of the 244 companies which have complied with the regulations in the last six months, as many as a fifth have given that directorship to a woman from the promoter family, starting all the way at the top with the Reliance Group‘s appointment of Nita Ambani. Frankly, we aren’t even sure that this is because its the easy way out. More likely, this is because of a culture that pays such little premium to grooming women leaders. In the long run, we can’t help hoping that instead of looking for loopholes India Inc. genuinely attempts to create a rich bench of women leaders to choose these Directors from.
Read more at the two links provided, and if you are a woman working in one of the 755 companies that need to comply with the legislations in the next 30 days, walk over to your manager’s office right now! Forget asking for a pay hike, you may just qualify for a seat at the board!
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