[Exclusive Interview] Find Out How This Consulting Firm Empowers Women To Balance Work & Life With Flexible Working Environment

Recently, we interacted with Mr. Deepak Kewalramani, Partner & Founder – Virtual CFO, Flipcarbon, a management consulting firm that specializes in helping enterprises achieve their strategic goals through people-centric solutions.

Here are the interview highlights:

1. According to you, how can the rise in female enrollment in higher academic programs transition to an increased participation of females in enterprise leadership?

It is important to groom and train women for leadership positions early and the higher education programs will just ensure that. Hence increased enrollment of women in higher education programs is a prerequisite for increased participation in enterprise leadership roles, which further helps achieve gender parity. Over the years, an upward trend in female enrollment in higher education programs can be seen in India. For example, according to the All India Survey on Higher Education (AISHE), female enrolment in higher education programs had increased to 2.01 crore in 2020-21, as compared to 1.88 crore the previous year. 

Traditionally male-dominated spaces such as engineering have seen a rise in female participation especially via higher education institutes such as the IITs, (from 9% in 2017 to 20% in 2021-22) as highlighted in Flipcarbon’s ‘Women in Leadership’ report. 

Access to higher education empowers women, and equips them with the necessary skills and knowledge required to overcome barriers – traditional, societal, and more – in taking on leadership roles in enterprises. 

2. The report brings out the importance of organisational initiatives such as flexible working arrangements and gender-neutral recruitment. Can you share a few examples of successful initiatives implemented in the enterprise space that effectively promoted diversity and inclusivity in the workplace?

There has been extensive work that has gone into the process of addressing and tackling work environment gender disparity issues of magnitude. This focus has been the outcome of extensive efforts across polity and private. Whether those be government policies such as the Equal Remuneration (ER) Act, Maternity Benefit Act, or the Sexual Harassment of  Women at Workplace (Prevention, Prohibition and Redressal) Act, or several enterprise-level efforts that have been adopted to boost inclusion and diversity in workplaces, I would say there is so much more to be done, yet the proverbial first steps have been taken. 

At Flipcarbon, for instance, we have adopted policies that ensure equal opportunities irrespective of gender to develop and achieve growth; additionally we have launched targeted programs to address gender inequities in the workplace. These range from no bias in hiring, flexible work arrangements that enable employees to manage their careers and family in a balanced manner to taking credible action to reduce gender pay gaps, as well as ensure the elimination of bias in pay decisions to minimising the glass ceiling for women and other diversity groups. These initiatives have helped foster an inclusive and diverse environment at our organisation and we intend to continue with these efforts to further minimise.

A few other things that we have implemented at Flipcarbon are aspects such as menstruation not being considered a swept-under-the-carpet conversation, sanitary napkins being made available in offices, and flexibility on menstrual leaves.

3. As the report highlights, less than 25% female representation over three-quarters of corporate boards; what strategies/steps do you suggest for modern day corporations to address this gender disparity at the board level and within C-suite positions?

Organisations need to focus on creating an equal, diverse, and comfortable environment for women in companies and undertake necessary steps to ensure greater representation for women in leadership positions. In order to address gender disparity in workplaces, favourable policies that promote equality and the work-life balance, such as implementing diversity and gender-neutral hiring, providing equal opportunities for promotions and career growth, flexible working conditions, and providing paid paternity leaves and menstrual leaves, are a must-have, not a good-to-have, or a can-have. Additionally a focussed Strategic People Resource program should be created with access to mentorship and sponsorship programs tailored to the needs of female employees which can provide them with the required guidance, support, and opportunities to develop their leadership skills and boost their confidence. 

4. How can organisations make sure that they foster inclusivity and bridge the gender gap at every organisational level to provide employees with a holistic approach to gender equality and diversity? 

Adopting significant initiatives and ensuring proper implementation of these steps to bridge the gender gap and foster equality and inclusivity at an organisational level is necessary. However, in order to provide the employees with a holistic approach to gender equality and diversity, it is essential to sensitise them, help them unlearn their unconscious prejudices and stereotypical behaviour, and create the right mindset towards women empowerment and equality in the workplace. This can be successfully achieved by organising regular sensitivity training and workshops for personnel, as well as by giving female employees more opportunities to lead projects and teams, to prove their mettle. Further gender equality and diversity should be part of the value system of each organization and must be imbibed in the work culture.

5. Given your extensive experience and expertise, what is your advice to your fellow CEOs and leaders in order to create a more gender-inclusive and diverse work environment? 

Apart from adopting inclusive measures at the organisational level, it is essential for organisations to continue with their Diversity, Equity, and Inclusion (DEI) journey. Fostering a gender-inclusive and diverse work culture is an ongoing process and requires continuous efforts from employers and employees. It is important to seek feedback from employees on a regular basis, take their thoughts into consideration, and work towards introducing new initiatives and changes to bridge the prevalent gaps in one’s organisation. Further, we must learn from organizations who have successfully implemented DEI and adopt their best practices to create a more gender inclusive and diverse work environment faster.