Union Minister for Finance, Defence and Corporate Affairs Arun Jaitley unveiled the ‘Gender Parity Index, a tool kit to evaluate gender diversity and empowerment of women in the formal sector in India at the 33rd Annual Session of FICCI Ladies Organization (FLO).
FLO has developed this first of its kind index to measure the extent of gender parity in the formal sector. It is a broad and holistic index which will assess where an organization stands vis-à-vis other equivalent or comparable formal sector organizations. At the same time it presents a step-by-step guide to achieve higher levels of gender parity in different dimensions. It is designed to encourage change in the way organizations think and work and in the process provide women fresh opportunities, promote economic empowerment and provide them with tools to tackle new challenges.
Vinita Bimbhet, president, FLO said, “FLO Gender Parity Index is a first of its kind in India. It measures the extent of gender parity in the formal sector, it is broad and holistic and addresses gender parity at a micro level, in the formal sector: the building blocks of an organized society. It is designed to encourage change in the way organizations think and work and in the process provide women with unprecedented opportunities, promote economic empowerment and provide tools to tackle new challenges.”
Research and case studies have made a business case for gender parity at the workplace which improve chances of business success. However, over and above such benefits, gender justice is a morally desirable social goal. In India though, there is still some distance to be covered considering the World Bank data which indicates declining female labour force participation rates over the past three decades, from 35 percent in 1990 to 27 percent in 2014.
To achieve parity, men and women must have access to the same resources and the same opportunities, so that they can earn the same rewards and attain the same heights, while enjoying the same levels of physical and financial security. This is not only just and equitable, it has its economic benefits which have been described earlier.
By setting the right tone at the top, an organization can open several doors for women, enabling them to work side-by-side with men. In the process the organization will not only break that ever elusive glass ceiling but will in turn have access to a wider talent pool.
The Indian Constitution grants all citizens "Equality of status and of opportunity." India has also acceded to or ratified several international conventions related to various aspects of gender equality. However, social and economic development indicators show that we are far from attaining gender parity.
