Close the Gender Gap data for 2024 reveals 38% rise in sexual harassment complaints

The Udaiti Foundation has revealed its latest findings from the Close the Gender Gap (CGG) Initiative, offering new data and insights for FY 2023-24.

The dashboard presents critical data and insights across various gender metrics such as Women in Leadership (Board of Directors and key management positions); gender pay gap (worker, employee, KMP, BoD); retention indicators; data on access to company well-being policies and sexual harassment and POSH data.

The data collated is based on annual and BRSR reports of 2,000+ NSE listed companies for FY 2023-24.

Findings for 2024 reveal that only 18% of formal employment in India is held by women. However, sectors such as healthcare (41%) and consumer services (30%) show stronger female representation, while industries like construction and power remain starkly male-dominated, with women comprising only 3-4% of the workforce.

Despite 98% of companies reporting at least one woman director on the board, the number dwindles to 46% in companies having more than one female director. In addition, only 10% companies indicate having more than one female in Key Management Personnel (KMP), signaling a critical gap in leadership roles for women.

The findings also reveal that women in construction and similar sectors are also facing significant pay disparities, with female KMPs earning up to Rs 2 crore less than their male counterparts.

Interestingly, sectors with higher women representation such as Consumer Services and Hospitals and Labs sectors also have the highest turnover rates at 34% and 33%, respectively, indicating a need for tailored retention strategies to maintain workforce stability.

The findings reveal a rise in reporting of sexual harassment complaints, with a 38% increase in cases reported compared to previous years. An accompanied rise of 36% in the number of unresolved complaints, is a call to expedite resolution and strengthen protocols.

The media and entertainment sector is the most affected, reporting the highest number of complaints per 1,000 women employees. This rise calls for stronger measures to ensure safe and equitable working environments for women.

The Close the Gender Gap platform includes a self-assessment tool to help companies track their progress in gender equality. By participating in the initiative, organisations can access valuable resources to improve their diversity and inclusion efforts, ensuring they adopt policies that foster a more equitable workforce, according to a press statement.

Pooja Goyal, CEO of the Udaiti Foundation said: “Our findings reaffirm the urgent need for companies to not only close the representation gap but also prioritise equal opportunities for women in leadership roles, pay equity, and workplace benefits. Gender equality should not just be a goal; it must be integrated into every aspect of organisational growth.”