By Shobana Rajasekar
India has traditionally viewed its women through the lens of duality. On the one hand, they are revered as deities with infinite powers of wealth, wisdom, and courage. The other view is diametrically opposite – their existence is cloistered with the belief that they need to be protected and they possess limited economic autonomy. In this scenario, when studies reveal abysmally low figures for women’s participation in the organised workforce, it shouldn’t come as an unusual stance on how society perceives the women in workforce.
Let us now focus on India’s economic growth story. The country is among the fastest-growing economies in the world today, with significant advancements, especially in the areas of science and technology, and innovation. Our media including social media are replete with testaments of women contributors in various fields, including the areas of science and technology, innovation, global fashion, academia, arts and culture, and business.
And, as the economy keeps growing, it is imperative that women’s engagement in the workforce is encouraged even further. Today, one of the biggest challenges our country faces is underutilising the potential of its female workforce, which can prove detrimental in the long run. A study by Bloomberg has shown how closing the employment gap between men and women could facilitate India’s GDP expansion by close to a third by 2050.
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Recognising this, several business entities are taking proactive steps to promote gender equality and empower women in their workforce. The rise of the gig economy and advancements in technology also presents new opportunities for women to enter and succeed in the formal sector. By investing in women workers, India can unlock its corporate potential and drive sustainable economic growth.
Promoting Gender Equality in SMEs
SMEs play a crucial role in economic development by driving innovation, creating jobs, and promoting entrepreneurship. These enterprises are recognising the inherent potential that gender equality brings and are championing initiatives to empower women. One notable example is the UNDP’s women@work campaign, which highlights the success stories of SMEs that are investing in a women-led workforce.
Gig Economy and Tech Advancements
The Covid-19 pandemic has accelerated the rise of the gig economy, offering flexible and freelance work arrangements that can benefit women. According to a study by UNDP and FICCI, the gig economy has the potential to expand women’s employment by providing opportunities for remote and online work platforms. As digital workspace becomes more prevalent in industries such as sales and distribution, women can enter fields where interactions are managed through apps and phone calls.
Reskilling and Technology Adoption
To fully harness the corporate potential of women workers, reskilling becomes crucial. Reskilling, especially in the formal sector, will play a significant role in shaping the future of work for women. Providing training in computer programming and other relevant skills can equip women to adapt to new technologies and keep pace with industry advancements. By ensuring women have the necessary skills, India can bridge the gender gap and create more employment opportunities. Further, keeping in mind that a huge percentage of working women had either taken a break period due to various personal reasons, upskilling support from employers can act as an accelerator in increasing women’s participation in the economic contribution.
The Wage Code, 2019 – a big step
The Wage Code, 2019, is a significant move towards empowering women in the labour market. Consolidating and simplifying labour legislation, the Code ensures equal pay, timely payment, and favourable working conditions. It also addresses issues related to minimum wages, equal remuneration, and protection against unfair labour practices. By providing a unified framework, the Wage Code promotes gender equality and supports the advancement of women workers.
It is also an advantage that the new Labour Codes expands the scope of labour laws to unorganized workspace. Apart from women engaged in executive-level work, a large number of working women are a part of an unorganized workforce and thereby their contribution to the overall economy of the nation gets lost. With the protection of the labour laws extended to the unorganized workforce, their roles will be recognised and protected.
Also read: Over 3,000 MSMEs led by women entrepreneurs shut post Covid: Govt data
Towards an Empowered Future
Unlocking India’s corporate potential through women workers requires a whole-of-society approach. Government, civil society, and communities must collaborate with businesses to create an enabling environment for women to enter and succeed in the workplace. Policies and initiatives that promote equal pay, equal opportunities for training and career advancement, and measures to prevent discrimination are crucial. Additionally, documenting best practices and sharing knowledge across industries can help develop supportive policies that foster women’s empowerment.
The potential of a female workforce is unfathomable. If tapped to the full extent, it can yield immensely impressive results. It will also enhance India’s corporate potential and enable more women to participate in the labour market as they should. While SMEs are leading the way in promoting gender equality and empowering women workers, technological advancements and the gig economy are also offering newer avenues for women to enter the formal sector. The corporates can take a leaf from the success stories emerging from these centres and show more faith and support to the women.
Lastly, by investing in reskilling, adopting inclusive policies, and addressing societal barriers, India can unlock the potential of its women workers, driving sustainable economic growth and fostering a more equitable society.
Shobana Rajasekar is the Chief Technology Strategist at labour, industrial, and financial compliance solutions provider Aparajitha. Views expressed are the author’s own.