Celebrating International Women's Day: Leading Business Sheroes Speak About Challenges And Hopes

March 8, recognized globally as International Women's Day (IWD), has a history deeply rooted in the fight for women's rights. While the United Nations officially marked the day in 1975, its origins date back to the early 1900s. The first National Woman's Day, observed in the United States on February 28, 1909, was designated by the Socialist Party of America in honour of the 1908 garment workers' strike in New York. This strike saw 15,000 women marching for improved working conditions, shorter hours, better pay, and voting rights.

International Women's Day serves as a poignant reminder of the ongoing struggle for women's empowerment in all spheres of society, particularly in the corporate world. The debate surrounding the underrepresentation of women at senior levels continues to gain momentum globally. A study by McKinsey & Company has underlined the business case for gender diversity, revealing that companies with more women in top executive roles tend to achieve 25% higher profitability.

This study not only underscores the economic benefits of gender equality but also projects a potential contribution of $12 trillion to the global GDP by 2025. Despite these promising statistics, the harsh reality persists, with only 29% of senior management positions worldwide held by women. This stark underrepresentation highlights the need for concerted efforts to break down barriers and pave the way for more women to ascend to leadership roles.

In a bid to shed light on the transformative impact of inclusive practices, industry leaders have shared their perspectives. These narratives emphasize the collective responsibility to drive meaningful change, urging organizations to embrace diversity and foster environments where women not only participate but lead.

Cauvery Devika Dharmaraj

In a candid interview, Cauvery Devika Dharmaraj, a prominent businesswoman, shed light on her perspectives regarding Women's Day, her journey as a businesswoman, and expectations for women's empowerment schemes post Lok Sabha elections.

Reflecting on the significance of Women's Day, Dharmaraj emphasized that people often forget the foundational contributions of women. She traced the origins of Women's Day back to the early 1900s when women marched for equal pay and voting rights during the labour movement. Dharmaraj stressed the persistence of patriarchy and the need for a robust messaging platform to challenge inequities.

When questioned about expectations from post-election schemes, Dharmaraj expressed a wishlist with a focus on women's health and wellness. Referring to a Deloitte survey, she emphasized the greater health challenges faced by Indian women, particularly during menopause. Dharmaraj hoped for government support to address these issues and foster an environment where more women could participate in the workforce.

Offering valuable advice to young girls entering the corporate world, Dharmaraj stressed the importance of compassion and prioritizing what matters. She shared her life lesson of not hesitating to ask for or offer help, emphasizing the significance of building alliances. Dharmaraj acknowledged the challenges posed by social media to this generation, advising awareness and appropriate use to maintain a healthy work-life balance.

Nirupama Subramanian

Nirupama Subramanian, Co-Founder and Managing Partner of GLOW opened up about the significance of Women's Day, her challenges as a businesswoman, and expectations for women's empowerment schemes post Lok Sabha elections.

Subramanian initially expressed conflicting feelings about Women's Day but later recognized its importance, tracing its origins to protests against unhealthy working conditions for women. Acknowledging progress from marginalized positions, she emphasized that true gender equality is still distant. Citing a United Nations estimate of over 280 years for gender equality, Subramanian highlighted the low women's labour force participation in India, scarcity of leadership positions, and rising crimes against women. Women's Day, for her, reinforces the need for conversations about justice, inclusion, and collaboration between genders.

Sharing her journey, Subramanian detailed the challenges faced as a team lead and the pivotal shift when she became a mother. Without familial support, she depended on hired help, experiencing guilt for managing work and childcare. This transition prompted a reevaluation of priorities, leading her to champion support for other women. Subramanian advised aspiring leaders to ensure they are the CEOs of their lives, viewing leadership as possessing personal power.

Subramanian commended the government's current initiatives for women and advocated for schemes like "Bete Ko Sikhao, Bete Ko Samjhao" to educate children about respect. She emphasized the need for gender sensitization and bias awareness, urging the education of men to handle empowered women. Subramanian stressed the importance of balancing responsibilities and enabling men to break societal norms.

Encouraging young girls entering the corporate world, Subramanian urged self-change and breaking personal barriers. Her advice echoed the sentiment of claiming one's power, believing in one's potential, and living up to that power both personally and professionally.

Bhavana Issar

Bhavana Issar, the visionary Founder & CEO of Caregiver Saathi Foundation, shared her unique perspectives on Women's Day, the challenges of being a businesswoman, and her expectations for women's empowerment schemes post Lok Sabha elections.

Growing up in a gender-neutral environment, Issar initially viewed Women's Day as tokenism, emphasizing her belief in equal opportunities. However, a deep dive into history led her to appreciate the celebration as a tribute to the struggles of brave women. Issar now underscores the importance of commemorating those who have paved the way for gender equality.

Issar highlighted the significant hurdle for women in unpaid care work, emphasizing the need for government support in the care economy. She called for representation and recognition of this vital aspect of political discourse. Issar believes that addressing unpaid work is crucial to unleashing the full potential of women in the workforce.

Issar provided advice for young girls entering the corporate world, emphasizing long-term career planning. She encouraged them to consider financial freedom as a priority, plan for a sustained career, and involve friends and family for emotional support. Issar stressed the importance of staying relevant in the workforce while maintaining a work-life balance.

On International Women's Day, the narratives of these industry leaders serve as a powerful call to action. The urgent need for more women in leadership roles is not just a matter of equality but a strategic imperative for global economic growth.