Best Workplaces in Retail 2024 report highlights gender equity imperatives
By Retail4Growth Bureau | March 05, 2024
According to the report, the perception of equity and impartiality among female employees remain low as compared to their male counterparts as 71% women feel that their organizations are impartial as compared to 78% male coworkers and 75% women experiencing equity at workplace as compared to 82% male counterparts.
The Best Workplaces™ in Retail 2024 report has been released, which offers insights gleaned from the voices of 1.8 Lakh employees, painting a fascinating picture of the industry's trajectory towards inclusivity and growth.
According to this list, some of India’s Best Workplaces in Retail industry 2024 (alphabetic order) include, Barbeque-Nation Hospitality Limited, Celio Retail Private Limited, Reliance Retail Limited, Shoppers Stop Limited and in E-commerce industry 2024 (alphabetic order) includes Flipkart Group (Flipkart Internet Private Limited, Cleartrip, Flipkart Health+), Myntra Designs Private Limited and REA India Pte. Limited (Housing, PropTiger and Makaan). The report, while celebrating the achievements of the retail sector, also sheds light on crucial gender equity imperatives.
While overt gender bias may not be prevalent in retail workplaces, the perception of equity and impartiality among female employees lags their male counterparts by almost 7%, says the report. Key areas of concern include fair pay, equitable profit-sharing, management favoritism, and workplace politics. In addressing these disparities, the report underscores the importance of fostering a more inclusive workplace culture. It highlights the need for retail organizations to identify and develop plans to close the gender pay gap, ensuring that women receive equitable compensation for their contributions.
According to data from Pew Research, women across industries earned an average of 82% of what men earned in 2022, highlighting the urgency of action in this regard. Moreover, the report emphasizes the significance of leadership in recognizing and nurturing the potential of all employees, irrespective of their credentials or experience.
Leaders are encouraged to offer a warm welcome to women joining their organizations, ensuring that they feel valued and supported from the outset, says the report. Additionally, it is imperative to provide women with visibility within the organization, enabling them to access opportunities for growth and advancement. Yeshasvini Ramaswamy, Serial Entrepreneur & CEO of Great Place To Work®, India, stated “The retail landscape continues its dynamic evolution, shaped by a vibrant Indian middle class, technological advancements, and the ever-evolving needs of our workforce. This year's Best Workplaces in Retail 2024 list paints a fascinating picture, one where 1.8 Lakh employee voices resonate, offering invaluable insights into building a stronger, more inclusive industry. While technology revolutionizes the customer journey, the human element remains our core strength. The report reveals both strengths and areas for improvement in our approach to human capital. Notably, a pronounced dip in employee perception among women makes us self-reflect on the initiatives we should introduce and sustain to foster a truly inclusive environment. There is still a lot of work to be done in addressing perceived bias based on gender and sexual orientation. This is crucial, as scores in key areas like equity and impartiality lag behind their male colleagues.”
The report also identifies key drivers of workplace satisfaction for retail industry: opportunities for career growth (with alignment to personal aspirations) and the availability of responsible, responsive management who can steer their growth trajectory. “I encourage all our leaders to address the workplace culture concerns highlighted in the report for their respective organizations so that we can move a step closer to nurturing every workplace to become a great place to work for all,” added Yeshasvini.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “I am heartened by the progress showcased in the ' Best Workplaces™ in Retail 2024 Report'. This report not only reflects the evolving retail landscape in India but also underscores the imperative of gender equity in our industry. The disparity in perceptions of equity and impartiality is a call to action for all of us. We must commit to developing and executing comprehensive strategies that ensure fair compensation, transparent career growth opportunities, and a supportive environment for all our employees, regardless of gender. Congratulations to all the winners on setting a benchmark for excellence. Your efforts in creating progressive and fulfilling work environments are commendable and serve as an inspiration for the entire industry."
