Gender-diverse companies are 15% more likely to outperform their peers as per McKinsey’s research and 70% likelier to capture a new market as per HBR. There are many other proven advantages of diversity, from attracting the best talents to low attrition rates. Diversity is the foundation for success and should be one of the biggest strategic considerations while building and growing an organization. Without a culture of inclusion, it is difficult to build a diverse team. An inclusive environment is a precursor to building a diverse organization.
We believe that Diversity and Inclusion initiatives by organizations cannot be treated as one size fits all. Every organization’s gaps, progress, capabilities and roadmap in building a diverse organisation are different.
At Khatabook, we currently have a 21% gender diversity. We want to take an ambitious target of 35% gender diversity over the next 2 years. On this International Women’s Day, I would like to talk about the identified areas of focus while shaping up Gender-diversity at Khatabook.
Increasing Diversity in Job Applications
There are certain aspects where evaluating and incorporating organization policy and practices may bring changes. And then, there are certain aspects driven by the social environment. That’s where we need to walk an extra mile. The biggest challenge for us is to achieve diversity in our talent pipeline while hiring, which happens to be low, especially on the tech side.
We intend to address this challenge by making sure that we source talent with a 30:70 female to male applicant ratio (to begin with) at an organization level by implementing a well-thought-out talent sourcing program.
At the same time, we do understand that this gap comes from the foundational social fabric. We have way higher number of male engineers in the workforce graduating every year than women engineers. So it is also important to tell stories of successful women in tech and inspire the future generation of women to pursue a career in tech without any inhibitions which brings me to our second area of focus.
Upward Career Mobility for Women
The talent pipeline at the top is even more skewed. Over the career span, we see women drop out of the workforce or find it challenging to reach leadership positions due to biases, personal inhibitions, etc. Hence, a focused approach is needed to nurture and encourage women employees to aim for leadership positions and create an environment for them to do so. We are working on creating dedicated programs to facilitate strong upward career mobility for women employees at Khatabook.
From the beginning of our journey, we have been mindful that Khatabook is the organization of people – All genders, orientations, caste & religions, regions and differently-abled. Hence, our people practices always focus on what’s best for all. We have unlimited leaves, primary and secondary caregiver policy, hybrid work environment – all the practices which provide complete control to employees on how to plan their work at the company. On the D&I front, we have achieved some success in our 3-year journey but we understand that we have a long road ahead of us.
We are and will always remain committed to building a diverse organization and providing an inclusive work environment.
Happy International Women’s Day, and Thank you for your contributions.
CEO, and Co-founder, Khatabook