The Changing Face of Gender Diversity in Leadership: Progress and Gaps to Address

The conversation around gender diversity in corporate leadership has evolved significantly over the past decade. Recent findings not only validate this progress but also shine a light on the work that still lies ahead.

A Shift in the Boardroom

Until 2015, women often felt the weight of representation in boardrooms, carrying the unspoken responsibility of proving that they belonged. Fast forward to 2024, and the landscape looks quite different. A recent NCAER study shows that women’s share on corporate boards in India has surged to 15.7% — more than tripling since 2015.

This statistic represents more than just a number. It reflects the collective impact of countless conversations, initiatives, and courageous steps taken by women and their allies to drive this transformation. But beyond representation, there’s a more exciting trend emerging — companies with women on their boards are demonstrating healthier finances, increased stability, and lower risk profiles. This validates what many have long believed: diverse perspectives lead to better decision-making and stronger business outcomes.

Progress Stalls in Senior Management

However, the journey is far from over. While boardroom representation has improved, the executive suite tells a different story. The same NCAER study highlights that women’s presence in senior management (CXO) roles has grown marginally — from 13.8% in FY2014 to 21.8% in FY2023.

This resonates with observations across industries. Despite more women joining boards, senior operational roles often remain dominated by men. Barriers such as unconscious bias in succession planning, limited mentorship opportunities, and fewer sponsorships continue to hinder women’s advancement into top leadership positions.

Challenging Assumptions: Surprising Insights

The study also revealed unexpected findings that challenge long-standing assumptions. Companies with diverse leadership are not only outperforming financially but are also perceived as more resilient and innovative. These organizations are creating cultures where inclusion isn’t just a checkbox but a driver of sustainable growth.

Paving the Way for Future Leaders

Reflecting on the progress so far, it’s impossible to ignore the role of mentors, sponsors, and supportive networks that have enabled women to rise through the ranks. As seasoned leaders, the responsibility now lies in mentoring the next generation of women leaders — equipping them with the tools and confidence to thrive in spaces where they are often the minority.

Closing the Gap: The Road Ahead

To truly bridge the gap and elevate more women into executive roles, organizations must:

• Establish Clear Pathways: Develop structured career progression plans that actively prepare women for senior leadership.
• Address Unconscious Bias: Review succession planning processes to ensure they prioritize diversity and merit.
• Promote Inclusive Leadership: Cultivate environments that value different leadership styles and foster psychological safety.

A Call to Action: How Do We Move Forward?

As we celebrate the progress made, it’s essential to remain focused on addressing the gaps that persist. The question now is: Have you witnessed this shift in your organization? What challenges have you faced or observed? And most importantly, how can we work together to accelerate this momentum?