What would happen if 50% of the workforce in the world and in India were women?
. The world could add $12 trillion to GDP in 2025, doubling the contribution of women to global growth in the coming decade
. India alone can add $2.9 trillion to its GDP by fully bridging the gender gap in the workplace
. This means a 60% increase in GDP, than business-as-usual in 2025
What does this mean for Indian society?
. Gender equality in society
. Better education for future generations
. Improved family well being
Through our primary and secondary research, we have found that there is significant business value in hiring women, especially in customer experience roles.
. Gender-diverse business units have 14% higher revenue in retail and 19% higher average quarterly net profit in hospitality, as compared to less gender-diverse units.
. Women account for 85% of all consumer purchases including everything from autos to health care
Having quality talent in customer facing roles has become a priority for the high growth industries with a B2C focus.
. 89 percent of companies worldwide expect to compete mostly based on customer experience in 2016, versus 36 percent just five years ago
. The same is true for India as well, where 74% of the CXOs indicated that the importance of customer experience is growing within their company
Sattva embarked on a mission last year, along with Global Development Incubators and Trust for Retailers and Retail Associates of India (TRRAIN), supported by J.P. Morgan, to provide a high-quality pipeline of female candidates in customer experience roles for bridge-to-luxury retail brands.
Over the past year, we trained 100 women and placed 77%. However, the learnings were significant and we observed multiple demand-supply mismatches that were systemic by nature and cannot be solved by skill training alone.
There is a need for disruptive, holistic solution over and above skilling. Sattva is looking to solve this problem by moving the needle from a skilling-only solution to a systemic solution engaging stake-holders across the value-chain.
Key Tenets for SelectHER Phase 2:
. High-growth industries with future-focused customer-experience roles
Employer as Partner through the candidate life-cycle, over and beyond the “training” period alone
. On-the-Job employability skills to be the significant differentiator
. Leverage technology to reduce friction, information asymmetry
Stay tuned for more updates on the programme!
