Retention Strategy for Women Talent

Indian organisations trail behind their global counterparts when it comes to retaining talent, said a survey on human capital effectiveness according to an Economic Times report. According to the survey, 35 per cent of the workforce in India has tenure of less than two years while for the APAC region it was 30 per cent, followed by 15 per cent for the Western region.

Women executives are ambitious and, like men, say they are ready to make some sacrifices in their personal lives if that’s what it takes to occupy a top-management job. Many, however, are not sure that the corporate culture will support their rise, apparently with some justification. Although a majority of organizations we studied have tried to implement measures aimed at increasing gender diversity among senior executives, few have achieved notable improvements.

When women are insufficiently represented in the workplace, we lose out on 50 percent of the talent pool.”

In an environment where human capital makes all the difference between success and failure, this is a massive loss which countries and corporates can ill afford.

Increasingly, Indian companies are focusing on recruitment, development, and retention of talent to gain a competitive advantage—not just among other Indian companies, but also among multinationals with a presence in India. While India has no labour shortage, talent is in demand and in very short supply.

Promoting diversity helps companies increase revenue by attracting new customers, identifying new markets, improving success in cross-cultural negotiations, stimulating innovation, and boosting growth potential through non-traditional hires. Understanding this connection between business goals and diversity goals is the first step leadership takes when choosing to advance women or other underrepresented groups into leadership positions.

In an increasing changing world, it is important to keep revisiting our drivers for success. It is a known fact that retaining half of the women employee population is a necessity rather than a feel good need. To fully harness the power of all talent, organizations have recognized the business case for gender diversity.

Biz Divas Corporate Networking group hence would share the best practices of Retention Strategies & Solutions across India Inc. via round table discussion with Business, HR and D&I practitioners. The aim is to explore solutions on ‘Retaining Women Talent’ focusing the 3 categories – Junior & Middle Management Women, Women on Maternity and Senior Women leaders.

Based on research conducted across four cities, we have identified best practices and solutions which address the persistent issue of retaining women talent. We help organisations in implementing the best possible solutions in this area.

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