Journal of Critical Reviews

ISSN- 2394-5125 Vol 7, Issue 6, 2020

Review Article

ACKNOWLEDGING GENDER DIVERSITY AND INCLUSION AS KEY TO ORGANIZATIONAL GROWTH: A REVIEW AND TRENDS

Navjeet Kaur1, Dr. Pallvi Arora2

1Research Scholar, International Centre of Cross-Cultural Research & Human Resource Management (ICccR & HRM), University of Jammu, Jammu, India. [email protected] 2Assistant Professor, International Centre for Cross Cultural Research and Human Resource Management (ICccR & HRM), University of Jammu, Jammu, India. [email protected]

Received: 17.02.2020 Revised: 10.03.2020 Accepted: 04.04.2020

Abstract Diversity refers to the existence of human differences on the grounds of colour, race, ethnicity, gender, identity, age, physical attributes, ethical values, nationality, education, personality, experiences and knowledge base. Inclusion, on the other hand, is the collaborative environment that enhances belongingness, participation and contribution as it provides respect to people across varying parameters of difference. Over the past few decades, workforce diversity and inclusive work practices have acquired the core position in several small, medium and large sized organizations whether national or international. Historical and current status of women workforce participation in Indian organizations reveals that a huge gap exists between the proportion of female labor force and their male counterparts. Presently, as companies have initiated to acknowledge that women constitute a significant source of human capital, it becomes essential to create female friendly workplaces to encourage gender diversity in organizations. The present scenario identifies gender diversity and inclusion of workforce as the key to business success and growth. This piece of research investigates the nuances of gender diversity and inclusion that bring out their true essence in terms of creativity and innovation, organizational reputation, productivity, decision-making, problem-solving and organizational performance as its several advantages. Additionally, the present research throws light upon the status of gender diversity in Indian organizations and the present global trends in the domain of gender diversity and inclusion as a key competitive advantage. It also attempts to bring out the reasons for acknowledging gender diversity and inclusion as a core of every organizations’ policy. Keywords: Gender Diversity, Inclusion, Workplace and MNC’s.

© 2019 by Advance Scientific Research. This is an open-access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/) DOI: http://dx.doi.org/10.31838/jcr.07.06.25

INTRODUCTION organizations, the initiatives have been commenced for a long Presently, the entire world is becoming a global village and the time but still only 28% of the entire organized workforce cross-border distances are reducing with a high pace with constitute women out of 48.5 % female of the entire population enhanced global interconnectedness of business operations and (Das, 2018). Das (2018) investigated that a 10% current increase people. As a consequence of such liberalized and globalised shift, in women workforce will result in an addition of more than workforce diversity and inclusive work practices have become $700Bn to India’s GDP by 2025. significant for organizational survival, growth and success. Wentling & Palma-Rivas (2000) asserted that diversity refers to Considering the long run organizational growth and profit the co-existence of employees with a wide variety of socio- generation as the major concerns of every organization to cultural, socio-economic and demographic attributes. Diversity survive in this competitive business world, gender diversity and can be defined as variations in observables such as age, gender, inclusion are now becoming the key ingredients that can lead to race, ethnicity and non-observables including cultural and achieving the same (Make it more than a mantra: Inclusion and technical characteristics of employees (Jackson, May, & Whitney, diversity survey, n.d.). Research indicates that a 1% increase in 1995; Milliken & Martins, 1996). workforce diversity leads to a 3% to 9% increase in the revenues (Bahl, 2018). After reviewing the literature, it has been extracted Inclusion, on the other hand, refers to the optimum utilization of that majority of the research work in the field of gender diversity differences of workforce for the growth and success of and inclusion has focused upon its beneficial influences upon organization (Employers Network for Equality & Inclusion, organizational overall growth. In light of the above, it becomes 2017). Inclusion talks about providing a sense of involvement, relevant to address how gender diversity and inclusion practices empowerment, recognition, integration and respect to the in the organizations can bring a positive transformation in the diverse workforce prevalent in the workplace (Daya, 2013). It organizations and strengthen work performances. also refers to enhancing and encouraging diversity at the workplace for fruitful and beneficial results (Global Diversity Accordingly, this piece of research explores the decadal trends Practice, 2017). across 2009 to 2019 associated with gender diversity and inclusion that highlight its growing relevance. This research A research from Bersin by Deloitte (2017) reveals that 77% of work also aims to address why gender diversity and inclusion the surveyed organizations aspire to be inclusive whereas 12% have become the top priority for organizations globally. of the surveyed organizations have achieved the objective of diversity with inclusion. As per the results of the study Subsequently, the following research questions are been ‘Delivering through Diversity’ released by McKinsey & Co. addressed: (2018), Australian companies (40%) achieve business leadership • How do gender diversity and inclusion influence the overall on grounds of gender diversity followed by companies of US organizational growth? (34%) and then UK (32%). To enhance gender diversity in Indian

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• What are the possible repercussions of promoting gender On one hand, while diversity and inclusion represent different diversity and inclusion in organizations? phenomenon, on the other hand, both the concepts are • Is there any collaborative impact of gender diversity and interrelated to each other as diversity focuses on acknowledging inclusion in the workplace? the different type of people working in an organization based on • What is the present status of gender diversity and inclusion age, gender, ethnicity, nationality etc., while inclusion stresses in Indian organizations? upon leveraging the workforce diversity for organizational Based upon a systematic literature review in the domain, the growth (Jordan, 2011; Arruda, 2016). However, it has been research paper focuses on the available secondary data and brought to the light through research that the influence of draws conclusion/inferences based on research papers, reports diversity and inclusion upon organizations are collaborative and and organizational websites. The data also facilitates in inconclusive in nature (Wright et al, 2014; Rohwerdr, 2017) as demonstrating the trends across the years. diversity alone is not sufficient for the holistic improvement of the organization (Arruda, 2016; Young, 2018). Bourke & Dillon DIVERSITY VS INCLUSION (2018) asserted that as per the Deloitte’s research, diversity Diversity means existence of differences among employees at without inclusion is not fruitful. According to Deloitte’s review, workplace based upon their colour, ethnicity, gender, age, social diversity and inclusion both in collaboration are effective in class, physical attributes, nationality, education, personality, achieving two times more financial targets, three times higher skills and knowledge. While both the terms ‘diversity’ and performance, six times more innovativeness and eight times ‘inclusion’ are commonly used interchangeable, there exists a better organizational outcomes (Bersin by Deloitte, Deloitte huge difference between the two concepts. Inclusion is different Consulting LLP, 2017; Deloitte Development LLC, 2018). The from diversity as it is a more active concept (Fresh Thinking collaboration between the two is absolutely essential for the Labs, 2017) and considered as a vehicle for embracing the overall organizational growth and development. As diversity is a difference that exists as a consequence of workforce diversity broader concept, we work at how gender diversity and inclusion (Young, 2018). Arruda (2016) asserted that diversity is about can be seen collaboratively. Infact, bringing together both the who and what (e.g., who is to be recruited, promoted, transferred concepts together essentially leads to more promising outcomes and so on) but, on the other hand, inclusion revolves around how for the organizations. (e.g., how to embrace and energize diversity in an effective manner). Jordan (2011) stated that “diversity means all the ways SIGNIFICANCE OF GENDER DIVERSITY AND INCLUSION IN we differ. Some of these differences we are born with and cannot ORGANISATIONS change. Anything that makes us unique is the part of this Diversity and inclusion are the key principles of the mission definition of diversity”. “Inclusion involves bringing together and strategy of 21st century organizations (The 2018 diversity best harnessing these diverse forces and resources, in a way that is practices inclusion index, 2018). Diversity and inclusion help in beneficial. Inclusion puts the concept and practice of diversity acknowledging and understanding differences among people and into action by creating an environment of involvement, respect leveraging its influences for the profitability of the organization and connection – where the richness of ideas, backgrounds, and (Folick, 2019) as diverse and inclusive teams take better and perspectives are harnessed to create business value” (Jordan, more effective decisions (Larson, 2017). This type of diverse and 2011). Hence, inclusion is like a rainbow of different colors, as it inclusive workforce performs twice faster decision-making galvanizes diversity. While diversity talks about the differences, within half of the meetings as diversity and inclusion go side by inclusion talks about synergizing those difference to bring more side (Larson, 2017). With the help of existing literature, Table 1 meaning and collaboration. demonstrates the numerous positive influences of gender diversity and inclusion upon several aspects of organizational DIVERSITY AND INCLUSION: A COLLABORATION growth.

Table 1: Significant and positive influences of gender diversity and inclusion upon several aspects of organizational growth Source Units/Companies under Reasons behind adoption of gender diversity by Results study the units/companies under study Grafstein (2019) Study based on secondary For reducing turnover and achieving the targets of It has been concluded that gender diversity and data/previous research world-class performance inclusion significantly improve the overall studies performance of the organizations including cost Greesonbach (2019) Study based on secondary For better and higher returns on income and equity. reduction, talent management, products and data/previous research services, company’s reputation, innovation and studies creativity, productivity, decision-making, problem- Rohwerder (2017) European Listed companies To improve the overall performance of the firm. solving, financial performance, relationships with stakeholders, satisfaction, commitment and empowerment of the workforce, increased feeling of psychological security. McKinsey (2018) 346 companies (mostly For strengthening employee empowerment, Gender diversity and inclusion are positively based in the USA and UK) organizational performance, cordial relationships, interrelated with employee empowerment, decision-making, company image, innovation, organizational performance, cordial relationships, talented workforce management. decision-making, company image, innovation, talented workforce management. Boston Consulting 171 German, Swiss and Increase in revenues from innovative products and Currently, for high level of innovation and profits, Group (2017) Australian Countries services using gender diversity. gender based diversified and inclusive manpower has become the necessarily of organizations. Larson (2017) Approximately 600 business For better and faster decision making. The combination of gender diversity and inclusion decisions made by 200 results in better decision making which ultimately different teams in a wide influence the organizational growth. variety of companies PwC & NASSCOM Indian IT-BPM industry For building current women middle managers as (2016) they are responsible for delivering organizational results and will strengthen future executive-level pipelines. Crouch (2015) Hospital Health System To raise and improve productivity levels. For achieving the targets of high productivity, gender located in the southeastern diversity and inclusion have become urgency of part of the US. present business practices. Forbes Insight 321 executives at large To improve the organizational level of innovation. Gender diversity and inclusion are considered as the

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(2011) global enterprises (having major forces to boost organizational innovation more than $500 million in level. annual revenues) Phillips, Kim-Jun, & Study based on secondary For better problem-solving, enhancing creativity and High profits, effective problem-solving, enhanced Shim, (2010) data/previous research innovation. creativity and innovation, high company reputation studies and talent management are the crucial outputs of Acquavita, Pittman, Subscribers of Social Work For raising the employees’ job satisfaction level as it gender based diversified and inclusive workforce. Gibbons, & Today Magazine helps in retaining talent. Castellanos-Brown (2009) The above table indicates the trend in gender diversity and the Pacific (68.5%), Sub-Saharan Africa (68.0%), South Asia inclusion literature from 2009 to 2019 indicating that the (66.1%) and middle East and North Africa (61.2%) subsequently. concept of gender diversity and inclusion has taken up Table 2 reveals the list of top 5 countries and bottom 5 countries immensely since the period for which this research is concerned. on the grounds of gender gap including economic participation, Recognizing the growing relevance of gender diversity and education attainment, health and political empowerment. inclusion, both concepts are here to stay. Also, the increasing need for organizations to address gender diversity and inclusion Table 2: List of top 5 countries and bottom 5 countries on issues brings forth its essence in terms of bringing advantages to the grounds of gender gap WEF’s Global Gender Gap Report the organizations that pursue it as a core value. As per the list 2020) issued by the Times Top 50 Employers for Women (2019), Top-Five Countries Bottom-Five Countries Accenture, Barclays, BP, Deloitte, McKinsey & Co., Shell, Vodafone Rank Country Score Rank Country Score and Sky, just to name a few, are the companies across the globe 1 Iceland 0.877 149 Congo, DR 0.578 which are highly diversified on the grounds gender diversity. 2 Norway 0.842 150 Syria 0.567 These and many other global organizations seek to address 3 Finland 0.832 151 Pakistan 0.564 gender diversity and inclusion and imbibe relevant practices for 4 Sweden 0.820 152 Iraq 0.530 the holistic growth and success of the organizations. 5 Nicaragua 0.804 153 Yemen 0.494 A statistical look at the data provides an indication of how the organizations are taking it up for their overall growth. A study No country has achieved the target of complete gender equality conducted by Boston Consultancy Group (2017) reveals that with yet but Iceland (88%), Norway (84.2%), Finland (83.2%), the increase of 20% proportion of female managers, innovation Sweden (82%) and Nicaragua (80%) are closest to achieve jumps to 25% from 15%. The Enterprise Decision-Making gender equality at workplaces (WEF’s Global Gender Gap Report, Platform: Cloverpop (2017) found that gender diversity and 2020). It has been investigated that 29% of senior management inclusion at workplace results in 73% better decision-making roles are held by women and 87% of businesses have at least one which further leads to 60% better outcomes. Knowledge Centre, women in senior management worldwide (Grant Thornton, Catalyst (2004) and The Business Case for Gender Diversity 2019). Such recent statistical figures are a clear indication of the (n.d.) released the results of a study conducted on Fortune 500 growing relevance of diversity and inclusion in organizations companies whererin a 25% of presence of women or gender worldwide. diversity in senior management helps to yield 30% higher returns. Infact, numerous studies have reflected that revenue of STATUS OF GENDER DIVERSITY AND INCLUSION IN INDIAN the company increases by 3% with every 1% increase in gender ORGANIZATIONS diversity (10 Companies around the World that are Embracing Low representation of women at the workplace is a global Diversity in a BIG Way, n.d.). McKinsey & Co. (2018) investigated predicament but in India the picture of women at workplace is and reflected that gender and ethnic diversity respectively gloomy as gender inequality at workplace in India is highly generate 21% and 33% more returns above the targeted mean. prevalent (Bhardwaj, 2018). In Indian organizations, the status of Suzuno (2017), Harvard Business Review (2016, 2019) found encouraging gender diversity is at its initial stages emphasizing that 67% jobseekers consider gender based workforce diversity upon equality in hiring, remuneration and representation in and inclusion as an important factor while looking for job offers, leadership positions (Das, 2018). Gender diversity and inclusion 57% employees expect their companies to make more efforts to in Indian organizations reveals alarming statistics as top-listed encourage diversity at the workplace. Inclusive organizations are companies have only 20% female workforce out of their entire successful in yielding 2.3 times higher cash flows and are 1.7 permanent workforce (Bothra, 2019). According to the World times more effective on the grounds of innovation (Bersin by Economic Forum’s Global Gender Gap Report (2017) India Deloitte, 2017). Companies with at least 15% female senior ranked 108 out of 144 countries on the gender equality scale managers can yield 18% higher profitability and companies which has slipped from 87 in 2016 (Bhardwaj, 2018). In 2018, having a female CEO are capable of gaining 19% higher this gap has become more glaring as India ranked 142 among profitability (Business and Sustainable Development 149 nations (WEF’s Global Gender Gap Report, 2018). Despite Commission, 2018). Companies with higher gender diversity are the adoption of numerous initiatives and affirmative actions for better able to outperform to about 11% companies with lower boosting gender diversity and inclusiveness in Indian gender diversity (Business and Sustainable Development organizations, India has not achieved success to raise the status Commission, 2018). of women in top and middle level positions (Verma & Basu, 2019). Women constitute only 27% of the total workforce, 17% GENDER DIVERSITY GAP AT WORKPLACES – AN OVERVIEW of them are in senior management positions and only 3% women OF WORLDWIDE STATUS are CEO’s in India (The Economic Times, 2017). Since 2014, out As a consequence of growing relevance of gender diversity and of every 100 CEO’s and MD’s of companies listed in NSE, only 3 inclusion in present business world, companies have commenced are women and out of 1814 chief executives of NSE-listed to take strong and effective actions for closing gender gaps at companies only 67 are women (Verma & Basu, 2019). Table 3 workplaces. According to the WEF’s Global Gender Gap Report throws the light upon annual status of women in leadership (2020), gender diversity gap is smallest in Western Europe as position in India from 2014 – 2019. Western Europe has closed 76.7% of its gender gap, followed by North America (72.9%), Latin America and the Caribbean (72.1%), Eastern Europe and Central Asia (71.5%), East Asia and

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Table 3: Annual status of women in leadership position in lakhs in 2013 (Gupta, 2019). The year 2019 has recorded the India from 2014 – 2019 (Verma & Basu, 2019) highest increase in the percentage of women holding senior As on No. of No. of Total No. of % of Total management positions which is 29% (Ahmed, 2019). Also, India Marc MD/CEO MD/CEO MD/CEO No. of is ranked at 112 among 153 nations in global gender equality h 31 Women Women Directorshi MD/CEO index (WEF’s Global Gender Gap Report 2020). Accenture Director Directorshi p Positions Directorshi Solutions Pvt. Ltd., ADP Pvt.Ltd., Barclays in India, Credit Suisse, s p Positions p Positions Deloitte in India, EY, IBM India Pvt. Ltd., KPMG, Shell India 2014 39 40 1249 3.20 Markets Pvt. Ltd., TCS, Tech Mahindra, Pepsico India Holdings 2015 39 40 1304 3.07 Limited, Verizon Data Services are the top companies in India 2016 46 50 1408 3.55 that are committed to establish women friendly workplaces by 2017 57 61 1554 3.93 promoting gender diversity and inclusiveness (Bhardwaj, 2018; 2018 56 60 1717 3.49 List of Best Companies for Women in India 2019, 2019) and 2019 63 67 1814 3.69 taking initiatives to close the gender gap.

The figure indicates the status of gender diversity in India and REASONS FOR BOOSTING GENDER DIVERSITY – THE TOP demonstrates an upliftment in the same. Gender diversity and MOST PRIORITY OF THE ORGANIZATIONS inclusion have become the key factors of hiring and all other HR Healthy gender diversity at workplaces is not only a moral and social issue but it also has a critical and economic significance for policies to create safe and comfortable workplaces for women the organizations in the present world. Currently, companies (Bhardwaj, 2018). Now, companies are emphasizing more and cannot expect to acquire competitive advantage in the global more on greater gender diversity as they don’t want to lose talent and have become more aware about the fact that executive business landscape by ignoring 50% competitive and potential teams with high gender diversity generate 21% more workforce (Gant, 2019) as better business require better profitability and 27% greater value creation (Salis, 2019). leadership. Table 4 demonstrates the reasons extracted from the Dwivedi (2017) found that Indian economy can grow more than literature that why healthy gender diversity have become the top most priority of the organization. $150 billion in upcoming three years by bridging its 50% gender gap in workforce. The female workforce in Indian organizations represents a significant growth of 196 lakhs in 2017 from 98

Table 4: Reasons for boosting Gender Diversity – The top most priority of the organizations S.No. Source Reasons for boosting gender diversity/Characteristics of women 1 Lowen (2019) • More persuasive French (2012) • Learn from adversity • More risk-taking • Believe in inclusiveness and team-building style of leadership for decision-making 2 Zenger (2017) • Women leaders are highly qualified • More passionate to find out opportunities to learn, improve and develop throughout their entire future career • More productive and creative 3 Goldschmid(2016) • Higher level of competency in exhibiting leadership skills and motivating others. • Highly qualified and possess high-potential. • Better in comparison to their male counterparts in developing, motivating and inspiring others while creating a favourable work- culture. • Equally effective and efficient managers/leaders. • Better listeners and possess leadership qualities. 4 Cooney(2016) • Value work-life balance French(2012) • Empathetic in nature • Great listeners • Nurture and help others • Strong focus on teamwork • Good in multitasking • Motivated by challenges • Strong communicators • Dream big • Handle crisis situations well • Check their egos • High emotional intelligence • Flexible • Perform variety of roles • Lead by setting examples • Defying the odds • More adaptable 5 Madsen & Tanja (2016) • Think more holistically • Seek win-win solutions • More process-oriented • Ask different questions

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Al-Shamali, & Al- • Sensitive to nonverbal cues Khoury(2015) • Comfortable with ambiguity • Focus on teams and cooperation • Focus on developing and nurturing others • Make more ethical decision • Have higher integrity/honesty • Focus on self-development • More creative and innovative in nature • Have higher social sensitivity • Connects the group to the outside world • Communicate powerfully and prolifically • Builds relationships • Inspiring and motivating others • Take initiatives FINDINGS OF THE STUDY organizations it is essential to understand both the phenomenon After examining approximately 60 sources of literature including holistically for formulating an effective strategy to achieve high research papers, web sources and several reports released by profitability as both these concepts are considered as bywords different renowned organizations in the respective domain of for top most and successful organizations. research, the following inferences have been drawn: REFERENCES • Gender diversity and inclusion at workplace have become 1. 10 companies around the world that are embracing a top priority for overall organizational growth. diversity in a BIG way. 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