Passline August 2010 by passline magazine

2 The economic

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empowerment of women has been one of the most remarkable revolutions of the past 50 years: millions of people who once were dependent on men have taken control of their own economic fates. It is remarkable also because it has produced so little friction as it has been widely welcomed by men as well as women.

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Passline News Service

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feminization of the workforce has been driven by the relentless division. Wipro Technologies, rise of the service sector (where women can compete as well another IT giant, has appointed as men) and the equally relentless decline of manufacturing Ms Sunita Rebecca Cherian, here is a new theory (where they could not). General Manager of Talent running around that Lehman Demand has been matched by supply: women are Engagement and Development, Brothers would never have increasingly willing and able to work outside the home. The one of the topmost positions a happened if it had been Lehman expansion of higher education has boosted job prospects for woman can aspire to occupy. Sisters. This is put forward by women, improving their value on the job market and shifting In Technopark, many in the corporate world in the their role models from stay-at-home mothers to successful Thiruvananthapuram, there are context of the recent financial professional women. The best-educated women have always about 28,000 IT/ITES disaster that shook the globe to been more likely than other women to work even after having professionals working, out of stress the point that ‘womanly children. whom nearly 45% are women, qualities’ are becoming ever more V P Nandakumar The trend towards more women working is almost certain according to Mr Mervin Alexander, Dr. V A Joseph MD & CEO valuable in business. The financial to continue. In the meantime, women have certainly performed Chief Executive Officer. In Chairman, Manappuram Group South Indian Bank crisis, they argue, proved that the better over the past decade than men. In the European Union Thrissur-based South Indian Bank, out of the nearly 5,200 sort of qualities that men pride themselves on, employees, the percentage of women is 35.46, women have filled 6m of the 8m such as risk-taking and cut-throat competition, says Dr V A Joseph, Managing Director and Chief jobs created since 2000. In can lead to competition and ultimately to crises. Executive Officer. Mr V P Nandakumar, Chairman America three out of four people What are these ‘womanly qualities’? “Women of the Valappad (Thrissur)-headquartered thrown out of work since the are less aggressive and more consent-seeking, Manappuram Group of Companies, feels proud ‘mancession’ began have been less competitive and more collaborative, less that women constitute 39.39% of the workforce male. By 2011 there will be 26m power-obsessed and more group-oriented,” say in his companies. It is 30% with the Sterling more female than male university social scientists. They insist that women excel at Group, Kochi, the total number of employees students in America. ‘transformational’ and ‘interactive’ management. there being 80, says Mr Shivdas B Menon, A recent study shows that They are ‘better lateral thinkers than men’ and Managing Director. within the next few months ‘more realistic’ into the bargain and that some of In Synthite and V-Guard Industries, Kochi, women will cross the 50% the best companies are favouring ‘collaboration’ the percentage of women employees is less than threshold and become the and ‘networking’, skills in which women have an that in the companies quoted above. Whereas majority of the American inherent advantage. It has also been established workforce, Women already make Kochouseph Chittilappilly Synthite has only 12% women, V-Guard has still George Paul that, on average, women have a ‘higher Director, Synthite Industries Founder & MD, up the majority of university less—only 11%, according to Mr George Paul V-Guard Industries Ltd emotional intelligence quotient’ than men. graduates in the Organization for and Mr Kochouseph Chittilappilly, Director and There are also companies using the unique management Economic Cooperation and Development (OECD) and they earn Chairman, respectively, of the companies. wisdom of their female employees. Several consultancies, at almost 60% of university degrees in America and Europe. They A frustrating factor found by the WIL study is about the least in the US and Europe, teach firms how to listen to women run some of the world’s best companies. pace of women’s progress in business at the middle and the and exploit their special abilities. Many of the most successful Women’s economic empowerment is perhaps the biggest top levels. This is to say that women are still unrepresented at women are to be found in hard- social change of our times. Just a generation ago, women these levels. The study found that edged companies, it is pointed out, were largely confined to the kitchen, to repetitive, menial jobs. though the entry-level inflow has rather than the ‘soft’ organizations Even if they were employed, they were expected to abandon been as high as 40%-50% in firms of the feminine imagination. Areva their concerns when they married and had children. Today like Wipro, the number was (nuclear energy), Anglo-American they are running some of the organizations that once treated decreasing towards the middle and (mining), Archer Daniels Midland them as second-class citizens. the top, driving organizations to (agribusiness), DuPont India Inc is not lagging behind. Though substantial progress think why women were leaving (chemicals), Sunoco (oil) and Xerox in retraining women on top has not been achieved, companies midway. “Women constitute just (technology) all have female are increasing representation of women at almost all other 5% of the boards of companies in bosses. Among the very few ‘soft’ levels. Women in Leadership (WIL), a forum set up in 2007 by India. This means that at the companies headed by women 1,000 women professionals from 150 companies, finds that 9,000 listed firms in the country, stands out PepsiCo, whose Indian companies like TCS, Zenzar, Tata Steel and JSW Steel there are only 400 women board Chairman and CEO is Indra Nooyi, had 5%-6% more women in senior positions in 2009 than in members. These figures may not an Indian. 2008, and multinational companies in the country such as present a complete picture as 200 Mervin Alexander Shivdas B Menon Modern business firms have PepsiCo, KPMG, Citigroup, GE and Pfizer increased it to 15%- of them belong to family-owned CEO, Technopark MD, Sterling Group seen a growing demand for 20%. firms. So, the number of women women’s labour. When brute strength mattered more than A recent report said that companies like Titan, where 10% who have actually climbed the ladder is just a sad fraction,” brains, men had an inherent advantage. Now that brainpower of the employees are women, employ more women in senior says the report. has triumphed the two sexes are more evenly matched. The positions. IT major Infosys has a woman heading its Australian To page 5

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Aug 31-Sept 30, 2010