Majority of companies in India Inc. have introduced a series of initiatives aimed at Young Mothers at Workplace, reveals the first edition of Best Companies for Women in India (BCWI) study 2016 conducted by AVTAR Group- India’s first diversity advocate and workplace inclusion expert and Working Mother Media, a celebrated gender-parity champion in the United States. With a growing percentage of adoption and surrogacy in India, 70% of studied 350 companies in India offer an average of 4.7 months paid leave for adoptive mothers and 15% of studied 350 companies in India sponsor their women employees for infertility treatments, reveals the study.
The Best Companies for Women in India Study 2016, instituted by Working Mother in partnership with AVTAR Group, aims to identify best practices and policies followed by companies for increasing women’s workforce participation. The study was conducted amongst 350 participated, biggest employers in the country and lists the 100 Best Companies for Women in India.
The study further reveals that 86% of companies have introduced paternity policies at workplace as an aid for Young working mothers. An average of seven days paid paternity leave is the most sought after policy of the year 2016 states BCWI Study 2016.
With 30% of companies introducing strong formalized returnship programs, second career programs stand out to be the most effective initiatives for helping young mothers in rejoining the workforce. 52% of Companies allow for an average of 6.3 months of phase-back (in addition to paid maternity leave) for young mothers rejoining after their maternity breaks.
Day care services, tuition reimbursement and sponsored care are some of the best in class practices adopted by India Inc to retain women in workforce. The study further states that 60% of companies rate Remote work, flexi-time , partial work and partial pay as the most favored flexible working arrangements for working mothers.
Commenting on the increasing focus on young mothers at workplace, Dr. Saundarya Rajesh, Founder – President, AVTAR Group said, “The 100 Best Companies for Women in India have exemplary policies that can plug the women talent drain. These policies cushion the career paths for women professionals during key life events such as maternity and help in the retention and growth of these women. We salute these visionary companies whose policies are rightfully compassed towards gender balance! I’m confident the insights from this first edition will set a benchmark for companies to further strengthen their Women inclusive HR policies.”
Ms. Subha Barry, Vice President & General Manager , Working Mother Media commented, “We are very proud and excited to recognize these extraordinary companies who excel in their progressive policies and leadership programs to advance women here. The winning companies are models of excellence, not only to attract the best employees, but to retain and promote them as well.”
The Best Companies for India is the first global expansion of Working Mother’s 100 Best Companies, which has been published in the U.S. for 31 consecutive years.
Other Key findings of AVTAR & Working Mother Media Best Companies for Women in India 2016 Study are:
1. 32% of the workforce in the Top 10 Best Companies for Women in India are Women and 25.25% of the workforce in the 100 Best Companies are Women
2. 37% of all the managers in the Top 10 Best Companies for Women in India are Women!
3. The average attrition rate amongst women is less than a third (20%) of that of men (68%) in the Top 10 Best Companies for Women in India.
4. The ‘BEST IN CLASS’ representation of women on boards is 22% in India Inc.
5. 100% of the Top 10 Best Companies for Women in India have programmes for returning women, 30 % of the 100 Best Companies have second career programmes.
6. Mentoring, executive coaching and networking platforms are the three most effective initiatives for women’s career advancement, says the BEST IN CLASS.
7. The 100 Best Companies for Women in India regularly conduct opinion polls amongst their women employees to assess effectiveness of their women centric initiatives.
8. Zero Tolerance to Sexual Harassment is the norm in the 100 Best Companies for Women in India!!
9. 100% of the 100 Best Companies for Women in India provide Flexible Working.
10. All the Top 10 Best Companies for Women in India provide flexi-time work options to their employees; 90% provide remote work
11. Remote work, flexi-time and partial work, partial pay are the most favoured flexible working arrangements in the 100 Best Companies for Women in India.
12. Flexible Working is a gender agnostic policy across Corporate India; With a surging millennial representation this has become the new normal
13. The BEST IN CLASS maternity leave in the 100 Best Companies is 6 months – 18 of the 100 Best Companies offered 6 months of paid maternity leave in the year 2015.
14. 86% of the 100 Best Companies and 100% of the Top 10 Best Companies offer paid paternity leave. The BEST IN CLASS for paid paternity leave is 20 days.
15. 70% of the 100 Best Companies offer paid leave to adoptive mothers. The BEST IN CLASS leave was 28 weeks.
16. The 100 Best Companies allow for an average of 6.3 months of phase-back (in addition to paid maternity leave) for young mothers rejoining after their maternity breaks!
17. 40% of the TOP 10 Best Companies provide day care services for their employees’ children.
18. 70% provide tuition reimbursement and 50% provide sponsored care for their employees!
19. 50% of the TOP 10 Best Companies for Women in India sponsor infertility treatments for their employees!
20. 100% of the TOP 10 Best Companies train their managers to help advance women, 90% train their managers to understand the work-life issues of their employees.
21. 60% of the Top 10 Best Companies train their managers to effectively supervise flexible workers.
As part of the Best Companies for Women in India 2016 study report, AVTAR Group in association with Working Mother Media also revealed the 100 Best Companies for Women in India list. The Top 10 Best Companies for Women in India are listed below (in alphabetical order):
Ø Cummins India,
Ø Deloitte in India,
Ø EY India,
Ø Hindustan Unilever Limited,
Ø IBM India,
Ø ICICI Bank,
Ø Intel Technology India,
Ø Mindtree Technologies,
Ø Morgan Stanley,
Ø People Combine Educational Initiatives.
The selection was basis data of highest order granularity spanning seven key policy clusters, namely, Workforce profile, Flexible work, Women’s recruitment and retention, Benefits, Paid-time, Company culture and Safety and security, as provided by the applicant companies. With two companies scoring exactly the same over all parameters, there has been a tie and the inaugural edition of the 100 Best Companies for Women in India lists 11 Companies in the Top 10.