Enhancing Gender Representation in Banking and Financial Services

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Posted by admin on 2025-01-15 06:23:50 |

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Banking andFinancial Services (BFSI) has traditionally been a sector with a relativelyhigher percentage of women in the workforce compared to other industries.However, disparities persist in women’s participation across various roles andlevels, highlighting challenges that require attention.

Aatash Shah, SVP andHead – Business at the Manipal Academy of Banking and Financial Services,shared insights into the current state of gender representation in BFSI and thegaps that remain.

Current State ofRepresentation
Over the last decade, the representation of women in BFSI has improved, withwomen constituting about 24% of the overall workforce. Women are predominantlyfound in customer service and operational roles. However, their presence dropsto 15% at mid-senior levels, reflecting barriers in career progression andwork-life balance, especially for married women.

Leadership Roles
While more women are assuming leadership roles in areas like operations, IT,compliance, and HR, their presence is limited in branch banking, sales, andinvestment banking, which remains male-dominated. This raises concerns aboutdiversity fatigue, where organizations slow their diversity efforts afterinitial progress. Sustained focus on inclusivity and diversity initiatives iscrucial to fostering women’s advancement.

Key Challenges
Factors such as workplace flexibility, mentorship programs, and organizationalsupport for work-life balance significantly influence female representation.Companies that address these issues tend to retain more women employees.

Future Steps
Achieving greater gender diversity requires targeted recruitment strategies,enhanced workplace flexibility, mentorship opportunities, and clear pathwaysfor career growth. These steps will not only create a more equitable workforcebut also drive innovation and organizational success.

While progress hasbeen made, ongoing efforts are essential to ensure women thrive at all levelsin the BFSI sector, promoting a more inclusive and dynamic industry.

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