Empowering Women in Retail: Best Workplaces in Retail 2024 Report Reveals Gender Equity Imperatives
- Female employees report a lower positive experience in micromanagement compared to their male counterparts
- Fair pay, equitable profit-sharing, management favoritism, and workplace politics remain some of the crucial concerns
- 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.
- It is observed that the best workplaces do a better job of avoiding politicking and backstabbing in the workplace (8%) and GenZ employees perceive this more strongly than their peers.
The retail landscape in India is witnessing a dynamic evolution, propelled by a burgeoning middle class, technological advancements, and the evolving needs of our workforce. In this ever-changing scenario, the Best Workplaces™ in Retail 2024 list offers invaluable insights gleaned from the voices of 1.8 Lakh employees, painting a fascinating picture of the industry’s trajectory towards inclusivity and growth. 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). List of India’s Best Workplaces in Retail 2024 can be accessed at < https://www.greatplacetowork.in/indias-best-workplaces-in-retail>.
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%. 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. 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 our retail industry: opportunities for career growth (with alignment to personal aspirations) and the availability of responsible, responsive management who can steer their growth trajectory.
As leaders, we must use these insights to build talent density that is holistic, inclusive, and a true representation of the aspirations of our youth for the retail industry, which thrives on innovation, economic growth, inclusion, equity, and employee well-being. 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.
To the winners of this year’s Retail ranking list, congratulations on your outstanding achievements! You are leading the way in creating a more progressive and fulfilling retail ecosystem. Let us continue to learn, adapt, and evolve together, building a future where retail thrives on the strength and satisfaction of its people.”
Mr. Kumar Rajagopalan, CEO, Retailers Association of India (RAI) added, “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. “
The Best Workplaces in Retail are leading the charge in fostering gender equity, with significant strides made in areas such as avoiding micromanagement and workplace politics. However, there is still room for improvement, and the report calls upon retail organizations to redouble their efforts in creating truly inclusive and empowering environments for all employees.
As building gender equity at the workplace emerges as the need of the hour., the report also captures top five actions to make the workplace inclusive:
- Development and execution of a plan to ensure fair compensation for all employees.
- Empowering individuals to reach their full potential
- Creating a welcoming environment for women who joins our organization
- Ensuring women have visibility
- Help women to share their experience with the larger organization
About Great Place To Work
Great Place To Work is the global authority on workplace culture. Our mission is to help every place become a great place to work for all. We give leaders and organizations the recognition and tools to create a consistently and overwhelmingly positive employee experience, fostering cultures that are proven to drive business, improve lives, and better society. Our recognition is the most coveted and respected in the world for elevating employer brands to attract the right people. Our proprietary methodology and platform enables organizations to truly capture, analyze, and understand the experience of all employees. Our groundbreaking research empowers organizations to build cultures that retain talent and unlock the potential of every employee. Our coaches, content, and community connect the boldest leaders, ideas, and innovations in employee experience. Since 1992, our Certification, Best Workplaces Lists, and global benchmarks have become the industry standard, built on data from more than 100 million employees in 150 countries around the world.
