Women in Finance: Lack of visible role models, unequal opportunities remain hurdles, says Schneider Electric India's CFO

Preeti Gupta Mohanty, the Chief Financial Officer (CFO) of Schneider Electric in Greater India, acknowledges that the lack of visible role models and unequal opportunities for reaching senior roles are major hurdles for women in finance.

She emphasizes the need for immediate action to bridge the gender gap in managerial positions, implement policies advocating for a balanced workforce, and cultivate an empowering culture where women can flourish.

Highlighting troubling statistics, Mohanty points out that out of 2,257 NSE-listed companies, only 45 are led by women CFOs or Directors of Finance.

"Lack of visible role models and unequal opportunities remain significant challenges," Mohanty asserts. "It's crucial to urgently address these issues and create an environment where women feel valued and empowered to succeed," Mohanty told ETCFO.

The CFO notes improvements in middle management roles but points out the scarcity of women in CXO positions. She advocates for providing aspiring female professionals with the necessary coaching, mentoring, and opportunities to take on decision-making roles.

Schneider Electric CFO's Strategic Approach to Advancing Women in Finance

Mohanty outlines strategic initiatives at Schneider Electric aimed at fostering gender diversity and inclusion. These include actively seeking and developing female talent, maintaining gender balance in the workforce, and ensuring gender pay parity. Programs such as the URJA Development Program equip women with essential skills for corporate success. Moreover, progressive policies like gender-inclusive parental leave and flexible work arrangements challenge traditional gender roles and promote work-life balance.

"As CFO, ensuring equal opportunities for women is a top priority for me," Mohanty affirms. "Mentoring is instrumental in helping women advance in their careers, and our URJA Development Program has been well-received, equipping female colleagues with the tools and skills needed to excel."

The Challenge of Balancing Professional and Personal Responsibilities

Mohanty highlights the challenge of balancing professional and personal responsibilities, particularly in the Indian context, where societal expectations often prioritize women's roles as homemakers. She emphasizes the importance of a supportive family environment in overcoming such challenges and advises budding finance professionals to have confidence in their abilities, commit to continuous learning, and embrace opportunities with dedication.

"When a woman is backed by a family that encourages her professional growth and respects her ambitions, it significantly contributes to her overall success and well-being. This kind of supportive environment can empower women to confidently pursue their career goals while maintaining a fulfilling personal life," she said.