Quote 30 July, 2016

Advancing Women in Tech

Jul 18 2016 : The Economic Times (Bangalore)

ET By Invite - 5 Ways Indian Cos can Boost Women in Technical Roles

TELLE WHITNEY CEO, Anita Borg Institute





Recruiting, retaining and advancing women in tech is not just an aspiration; it's a business imperative

In India's IT and BPM sector, women fill 51% of entry-level jobs, according to Nasscom.On average, women fill 35% of tech roles in India, compared to only 21% in the US.

But a looming problem remains -50% of Indian women leave the technical workforce at junior and mid-level positions. This dropout is problematic for companies because recruiting, retaining and advancing women technologists isn't just an aspiration; it's a business imperative. Here are five areas Indian companies must focus on to boost women in technical roles:

CHANGE STARTS FROM THE TOP DOWN

Many company programmes and policies are designed to attract more women into technical roles, but these efforts won't add up to real change.

The only way to create real change is to connect diversity efforts with a business's top and bottom lines. Indian business leaders must view diversity as a strategic imperative and as a priority across the organisation.

MEASURE AND ESTABLISH CONSISTENT DEFINITIONS OF SUCCESS

I firmly believe that what you measure, you will change. Indian tech leaders must establish a consistent definition of the technical workforce, something we have accomplished in the US with ABI's Top Companies for Women Technologists, the only nationwide programme that provides a consistent definition of the technical workforce and benchmarks organizations for their representation of women technologists.

It is crucial for business leaders to have common measurements for success and ensure that women and advance through the ranks.

PLUG THE LEAKY TALENT PIPELINE WITH SENIOR ROLE MODELS

Women in senior technical roles are critical to recruiting and retaining younger female technologists and to fix the leaky talent pipeline among Indian women.

Unconscious bias, stereotyping and work-life balance issues exist everywhere, but unique cultural challenges facing Indian women make it harder for them to stay in the technical field.

So, what's the solution to this female brain drain? It's important for young women technologists to see role models who they can relate to at their organisation.

TAKE MEASURABLE STEPS TO COMBAT UNCONSCIOUS BIAS

Professional women all over the world experience unconscious bias.

Rather than going the way of questionably effective training programmes, Indian leaders can take actionable steps, like ensuring women are well represented on hiring teams and in the pool of technical candidates across all levels.Again, having women in senior technical roles is key to ensuring unconscious bias isn't reflected in the company culture.

AVOID PUSHING WOMEN LEADERS OFF THE GLASS CLIFF

The “glass cliff” is another obstacle for women technologists in India. The glass cliff phenomenon suggests that women tend to be offered leadership roles during times of crisis and volatility, so they're essentially set up to fail.

Unfortunately, leadership opportunities come along less frequently for women than men, so some believe this might be their chance to take on a significant leadership assignment.

For business leaders, it's important to give employees (women and men) ample opportunities to show their potential. This can help prevent situations where women are seen as a last resort for a leadership position, one where she can easily become a scapegoat if things don't go as planned.

Plan for Retirement

Jul 18 2016 : The Economic Times (Bangalore)

GUEST CORNER - Women need to plan retirement better

Abhimanyu Sofat





Higher life expectancy, lower pay and fewer work years necessitate thorough planning.

The United Nations Department of Economic and Social Affairs, in India, the life expectancy of women is 69 years and, of men, it's 66 years.Due to this, a woman will need an additional `55 lakh to manage her living expenses (see table).

Besides, usually, women work fewer years compared to men to take care of children and family.Further, a recent study by Korn Ferry Hay Group shows that women in India earn 18.8% less than men. Not to mention, a higher life expectancy can also mean higher medical expenses as the likelihood of health ailments such as diabetes, high blood pressure, joint pain etc. increases with age.

What to do?

Women should invest a substantial part of their income regularly, right from the early years of employment in order to build a sizeable retirement corpus. A young woman should allocate a major part of her portfolio to equity mutual funds in the early stage of her career. Financial knowledge is key. Women should increase their financial know-how. This will help them make the right investment decisions and generate better returns on investments.

They should make retirement planning top priority, it is important that a woman starts investing in financial instruments. They should also work for a longer period to accumulate greater wealth as the benefit of compounding is at its best during the later years of one's accumulated corpus.