BENGALURU: Women can contribute significantly across industries, but at present, their participation in the organised sector is below 30%, say experts. With International Women’s Day around the corner, experts reiterate the need for more women participation in the organised sector for the country to prosper.
NLB Services says the country needs 50% more women in the workforce to achieve its goal to become a $7 trillion economy by 2030. It points out that millions of Indian women are employed in the unorganised sector as daily wage labourers.
Sachin Alug, CEO, NLB Services, said, “Industry reports indicate India can achieve a GDP growth rate of 8% provided women account for nearly half of the new workforce set to be created by 2030. Increasing women’s participation in traditionally male-dominated sectors is essential for bridging the gender gap and driving India’s goal to become a $7 trillion economy by the end of this decade.”
As per the December quarter Periodic Labour Force Survey (PLFS), labour force participation Rate (LFPR) in urban areas increased from 48.2% in October – December 2022 to 49.9% in October –December 2023. While for male, LFPR increased from 73.3% to 74.1% during this period, for female, LFPR increased from 22.3% to 25.0% during this period. In July-September 2023, it was 24%.
However, unemployment rate for female remains at 8.6% from July to December 2023. A recent CIEL HR Services study reveals a noticeable disparity in female workforce participation. While women’s participation in
ITES at 31%, in start-ups and MSME sectors, it is 24% and in EV and Aviation, the participation rate stood at 8.6% and 8%, respectively.
“Notably, e-commerce firms are actively engaging women for roles in warehousing and delivery. Companies across sectors are revising their recruitment strategies to increase the proportion of women in their workforce. Additionally, there’s a pressing need for organisations to address the challenge of retaining women at middle management levels and provide tailored leadership training to foster their advancement within the organisation,” said Aditya Narayan Mishra, MD & CEO of CIEL HR Services.
Another survey by the talent solutions provider reveals that women entrepreneurs continue to face some of the biggest challenges, including their struggle to raise capital, lack of
professional network and lack of mentorship as the top challenges.
NLB Services said that the recent government measures including reducing women employees’ EPF contribution to 8% for the first three years and extending fixed-term employment across all sectors to stimulate job creation bridge the divide.
ITES at 31%, in start-ups and MSME sectors, it is 24% and in EV and Aviation, the participation rate stood at 8.6% and 8%, respectively.
“Notably, e-commerce firms are actively engaging women for roles in warehousing and delivery. Companies across sectors are revising their recruitment strategies to increase the proportion of women in their workforce. Additionally, there’s a pressing need for organisations to address the challenge of retaining women at middle management levels and provide tailored leadership training to foster their advancement within the organisation,” said Aditya Narayan Mishra, MD & CEO of CIEL HR Services.
Another survey by the talent solutions provider reveals that women entrepreneurs continue to face some of the biggest challenges, including their struggle to raise capital, lack of
professional network and lack of mentorship as the top challenges.
NLB Services said that the recent government measures including reducing women employees’ EPF contribution to 8% for the first three years and extending fixed-term employment across all sectors to stimulate job creation bridge the divide.