International Women’s Day 2024: Indeed, the global hiring and matching platform recently commissioned a global report titled, ‘Promoting Women for Better Work’. It aimed to provide a comprehensive overview of the experiences and perspectives of women in the workforce in India and across the world. Nine in ten Indian women (90%) identify pay as an important aspect of their jobs, the highest percentage of all 11 countries (global average 82%).
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The report also strived to identify areas where organisations and decision-makers can take action to create more inclusive and supportive work environments for women.
Key insights of the report;
- A Global Perspective on Salary Negotiation: Despite progress, over half of the women who requested a raise globally received less than they had hoped for.
- Unveiling Indian Wage Realities: Amid India’s economic surge, a stark reality surfaces as 56% of women who sought raises received less than expected, signalling persistent challenges in attaining equitable compensation within the Indian job market.
- Navigating the Gender Pay Gap: While women across surveyed nations perceive a glaring gender pay gap at the national level, Indian women express notably higher satisfaction within their organisational and sectoral realms.
Indeed’s report revealed that the pursuit of job satisfaction for women is influenced by a variety of societal, cultural, and economic factors. While financial independence is a key motivator, women also prioritise achieving a work-life balance that allows for personal interests, family responsibilities, and professional growth. Job security remains a critical factor in this pursuit, along with the desire to develop new skills that can unlock further opportunities.
The report found that 53% of women from India are confident in asking for a raise, which is higher than the global average of 30%.
India has the highest percentage of women who have asked for a raise (65%) compared to any other country, the report added.
Indian women feel that they are more likely to get a raise if they ask for one.
Although India has seen considerable economic growth in recent years, leading to greater competition and increased living expenses, over half of the women who requested a pay raise (56%) were granted less than what they had asked for. India has the largest number of young people in the workforce globally, which can result in a highly competitive job market and lower wages.
The gender pay gap is a global concern, with most perceiving it to be more conspicuous at a national level, rather than within their specific organisations or industries. This perception is most pronounced in Italy (70%) and France (68%).
However, Indian women feel that their country most closely resembles their views when it comes to the gender pay gap, followed by their industry and organisation.
To close the gender pay gap in India, women consider regular compensation reviews (39%), workplace flexibility (39%), and gender pay/salary audits (37%) as the top 3 ways.
Recognising the significance of these initiatives is crucial, as studies, including those by the Harvard Business Review, have shown that companies with more women in senior positions tend to be more profitable, socially responsible, and offer safer, higher-quality customer experiences.
Nishita Lalvani, marketing director, Indeed India & SG, said, “Creating an environment where all women feel empowered to negotiate, thrive, and achieve balance is not only ethical but also the key to unlocking innovation and organisational success on a global scale. The confidence of Indian women in pursuing their worth is truly remarkable, and it’s high time we fostered similar environments worldwide.”
“While it is motivating to see Indian women leading the charge globally, there are still many challenges that stand in the way of women landing equitable opportunities. At work and outside of work the importance is to create a world where every woman can confidently pursue her dreams and aspirations, irrespective of cultural differences,” Lalvani added.
Methodology
The data presented in this release is based on a survey conducted in November 2023 among 14,677 female respondents employed either full-time or part-time across 11 countries.
In India, 1,193 women were surveyed. The respondents in India were segmented on the basis of region (north, south, east, west), age group, generation, seniority, and more. Women were surveyed across large, medium, and small businesses, from industries like IT & telecom, financial services, marketing/advertising, retail, legal, hospitality, real estate and other sectors.
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