Financing the Future: Women, Innovation, and the Road Ahead – ET BFSI

Blog 4 min read Financing the Future: Women, Innovation, and the Road Ahead International Women’s Day serves as a powerful reminder of the progress made. However, the glass is less than half full. Until women’s representation reaches at least 35-40%, women who enter the corporate world will continue to carry the mantle of leadership to pave the way for generations to come. Now is the time to converge, to join forces. For those hesitant about the outcome, remember, a more equitable future will benefit everyone. It is a cause worth fighting for, at every level. In the vast landscape of finance, recognising the challenges and contribution of women isn’t merely an acknowledgment or appreciation. It is a compass guiding innovation, inclusivity, and growth. As Robert Frost’s “The Road Not Taken” reminds us, celebrating these pioneers signifies embracing the path less travelled, paving the way for transformation in the financial world. However, regardless of the progress, the path forward remains uneven. Survey data from the CFA Institute states that women comprise 21.7% of the financial workforce and hold 15.9% of key managerial positions, globally. At a cumulative level, these numbers are even more stark, with a mere 9% of women reaching the top. While a glimmer of hope exists, in the financial sector, statistics demand a dramatic shift. All women, who have risen to leadership positions, have shattered the glass ceilings. They have risen to the top, defying traditional norms, and pave the way for future generations to have a more enabling environment. Their journeys haven’t been easy; neither are the journeys of young women entering the financial services sector today. Integrating into male-dominated teams requires additional assertiveness to ensure their voices are heard. These women deserve our gratitude for pushing the cause of inclusivity, for challenging the status quo daily, and for navigating the double duties of excelling professionally while efficiently managing their homes. They are redefining standard norms of motherhood, raising children who value equality, and cultivating a generation with a more progressive perspective. This is not an easy task, when the metrics for judging mothers are at a physical presence level, for e.g., providing hot meals and being around to pick up/drop them from school. Corporate India must become cheerleaders for this cohort as they truly I do not believe that multi-tasking is a woman’s domain. I think women learn to identify tasks that can be done parallelly and sequentially, in order to cope with the multiple expectations and responsibilities that their own values & beliefs, the family and society place on them. The old age adage of “Necessity is the mother of invention” aptly describes the situation the expertise acquired by working women who want to have it all. Thus, women employ the most innovative ways of working to get everything done. The skill of parallelly juggling sales targets and grocery lists translates into deep strengths. Women become experts at resourcefulness, drawing on every available tool to get the job done. This fosters an environment where teams are encouraged to think outside the box and to explore uncharted territories with fresh perspectives. As women leaders challenge established norms, the very paradigms of finance are shifting towards a more innovative future. Women bring to the table strategic resourcefulness and innovative solutions, which are an asset in the world of finance where they continue to do their bit to # Leaders with empathy and an ability to understand perspectives and needs, International Women’s Day serves as a powerful reminder of the progress made. However, the glass is less than half full. Until women’s representation reaches at least 35-40%, women who enter the corporate world will continue to carry the mantle of leadership to pave the way for generations to come. Now is the time to converge, to join forces. For those hesitant about the outcome, remember, a more equitable future will benefit everyone. It is a cause worth fighting for, at every level. As leaders, it is our responsibility to pave the way for a more inclusive future. The benefits of gender diversity in leadership have been strongly established over the past few decades. Yet, boardrooms and C-suites in India remain largely homogenous. It is imperative that we actively work towards changing the narrative where most leadership roles are held by men. On this International Women’s Day, and every single day, we must determinedly ETBFSI now has its WhatsApp channel. Join for all the latest updates.

However, regardless of the progress, the path forward remains uneven. Survey data from the CFA Institute states that women comprise 21.7% of the financial workforce and hold 15.9% of key managerial positions, globally. At a cumulative level, these numbers are even more stark, with a mere 9% of women reaching the top. While a glimmer of hope exists, in the financial sector, statistics demand a dramatic shift. Breaking Through: The Power of Female Leadership All women, who have risen to leadership positions, have shattered the glass ceilings. They have risen to the top, defying traditional norms, and pave the way for future generations to have a more enabling environment. Their journeys haven’t been easy; neither are the journeys of young women entering the financial services sector today. Integrating into male-dominated teams requires additional assertiveness to ensure their voices are heard. These women deserve our gratitude for pushing the cause of inclusivity, for challenging the status quo daily, and for navigating the double duties of excelling professionally while efficiently managing their homes. They are redefining standard norms of motherhood, raising children who value equality, and cultivating a generation with a more progressive perspective. This is not an easy task, when the metrics for judging mothers are at a physical presence level, for e.g., providing hot meals and being around to pick up/drop them from school. Corporate India must become cheerleaders for this cohort as they truly #InspireInclusion . Innovation Beyond the Spreadsheets: The Power of Multitasking Marvels I do not believe that multi-tasking is a woman’s domain. I think women learn to identify tasks that can be done parallelly and sequentially, in order to cope with the multiple expectations and responsibilities that their own values & beliefs, the family and society place on them. The old age adage of “Necessity is the mother of invention” aptly describes the situation the expertise acquired by working women who want to have it all. Thus, women employ the most innovative ways of working to get everything done. The skill of parallelly juggling sales targets and grocery lists translates into deep strengths. Women become experts at resourcefulness, drawing on every available tool to get the job done. This fosters an environment where teams are encouraged to think outside the box and to explore uncharted territories with fresh perspectives. As women leaders challenge established norms, the very paradigms of finance are shifting towards a more innovative future. Women bring to the table strategic resourcefulness and innovative solutions, which are an asset in the world of finance where they continue to do their bit to # InspireInclusion . Building Bridges for a Better Tomorrow: The Power of Inclusive Leadership Leaders with empathy and an ability to understand perspectives and needs, #InspireInclusion and champion diversity, equity, and create clear pathways for women’s career advancement at all levels. Initiatives like offering sabbaticals for family care or ensuring clean, safe restrooms for women working in the field, or ensuring new mother returning to their field jobs are given territories close to home are testaments to this commitment. These leaders understand that supporting women creates a more resilient, well-rounded workforce. International Women’s Day serves as a powerful reminder of the progress made. However, the glass is less than half full. Until women’s representation reaches at least 35-40%, women who enter the corporate world will continue to carry the mantle of leadership to pave the way for generations to come. Now is the time to converge, to join forces. For those hesitant about the outcome, remember, a more equitable future will benefit everyone. It is a cause worth fighting for, at every level. As leaders, it is our responsibility to pave the way for a more inclusive future. The benefits of gender diversity in leadership have been strongly established over the past few decades. Yet, boardrooms and C-suites in India remain largely homogenous. It is imperative that we actively work towards changing the narrative where most leadership roles are held by men. On this International Women’s Day, and every single day, we must determinedly #InspireInclusion and demonstrate a commitment to diversity to foster a more equitable workplace with the right attitude and culture. Every decision, every promotion, every leadership opportunity then becomes a chance to demonstrate a commitment to diversity. This article is authored by R.M. Vishakha MD & CEO, IndiaFirst Life Insurance. All views expressed are personal. ETBFSI now has its WhatsApp channel. Join for all the latest updates.