Indian Women in Banking Industry: Breaking the Glass Ceiling?

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Themes: HRM \ OB
Pub Date : 2009
Countries : India
Industry : Services

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Case Code : HRM0061
Case Length : 20 Pages
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India Inc.: The Changing Gender Composition. cont...

According to the Catalyst, the percentage of enrolled female tertiary students in 2005 was approximately 40%.⁸ "Education and exposure have led to greater societal acceptance of women participating in various walks of life, including business,"⁹ expressed Pradeep Mukerjee, founder-director of Confluence Coaching & Consulting (CC&C). Changes in the Indian culture favoring higher education for women helped the cause of women employment tremendously. The growing Indian middle-class shed apprehensions about educating the girl child and gave due importance for higher studies, which in turn changed the role of women, showing a way to progress in professional career.

With the economy being globalised and liberalised, even organisations tailored their management and organisational structures. There was a paradigm shift in the working system and workplace environment. Regardless of gender prejudices, companies started hiring personnel based on merit, talent and efficiency. This led to ample scope for women to siege the opportunities and paved a pathway to actively participate in the job market which was erstwhile reserved only for men.

The family-owned businesses have slowly started supporting their female members (wife, daughters and sisters) to participate in business operations. Having pursued higher/professional studies, the young women in their 20s are managing senior positions. The Economic Times commented, "Savvy girls in their twenties are new scions. They are their father's new right-hand men."¹⁰ Some examples of women holding senior positions in family-owned businesses - Roshni Nadar, (27), daughter of HCL Technologies founder Shiv Nadar, who did her MBA from the Kellogg Graduate School of Management, was appointed as CEO of the group's holding company. Likewise, Ashni Biyani, daughter of Kishor Biyani, chief of Future Group joined as a director at the age of 24. Even Lakshmi Venu (26) daughter of Venu Srinivasan, head of TVS Motors is holding a senior position in the company. Devita Saraf (28) joined their family-owned business, Zenith Computer headed by her father Raj Saraf.

In the corporate world too, Indian women have redefined their limits and emerged as equally capable to male executives and CEOs. With changing times, the potential of women has been recognised and they are no more perceived as only homemakers, rather they are regarded as fortunemakers. In boardroom, courtroom, on-screen, from sports to space exploration, warriors to politicians, women have scored distinctions. Notably, 21% of India's software professionals and 25% of science and engineering graduates are women.¹¹ Nearly 77,210 of the 6.38 lakh village panchayats are headed by women.¹²

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8]"Women in Emerging Markets", http://www.catalyst.org/file/179/qt_women_in_emerging_markets.pdf, 30th April 2009
9]"New ‘Right-hand Men": The Growing Role of Women in Indian Family Business”, http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4424, November 5th 2009
10]"New 'Right-hand Men': The Growing Role of Women in Indian Family Business", op.cit.
11]"Power Goddess", op.cit.
12]Ibid.