Small Business News: Indian MSMEs Bolstering Failing Workforce By Hiring More Women
25 July 2022
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Indian Micro, Medium, and Small Enterprises (MSMEs) are notably changing the narrative when it comes to the hiring of women to man their businesses.
As reported amid other small business news by the Economic Times (ET) of India, which spoke to many Indian executives, the desire for women is born out of loyalty and a better workforce retention rate, among many other unique features.
MSMEs are one of the most valued parts of the business economy. Because every organization has the potential to grow in the future.
What Are The Opinions Of Expert Company Founders?
Speaking to ET, Raghavendar Gupta, the founder of Phone cover manufacturer, Tweak Mod, explained how the majority of staff left on his payroll were women when he faced a massive exodus of experienced workmen from his company amid a tight operating schedule and the need to meet demands.
Gupta said Tweakymod was able to get its production numbers back up with the help of the few women in his team at the time. Since then, he said, “Over 60% of our people are women now; for day shift, this number goes up to 80%.”
The global economic onslaught has largely been more unfair to women across the board. This global onslaught has even contributed to the imbalance between the number of men and women in the workforce.
What Does The Ministry Report Say?
According to the MSMEs ministry’s report for 2021-22, there are 111 million employees in the sector, of which 76% are male and 24% female. In addition to this wide disparity, India has over 63 million MSMEs, of which 15 million (over 23%) are owned by women.
The place of women in the sector is gradually being shored up today as approximately 2 out of 3 firms in the industry are looking to employ women, a trend that can bridge the imbalance gap over the next few years.
Reasons Indian MSMEs Are Looking To Employ Women
Most MSME executives that spoke to the Economic Times have their own specific reasons why they prefer to add women to their respective teams.
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“With every increasing the challenges for finding the proper talent then ensuring employee’s retention, tackling the increasing trend of sudden job quitting, employers, especially those in MSMEs, the leaning towards is nothing but a hiring more women,” said Rituparna Chakraborty, executive vice president, Teamlease Services.
The changes to the workplace is now been modeled to help women fit in appropriately. This move was confirmed by Akash Suresh, proprietor of the Ahar, which makes a range of cookers and other kitchenware. He said his company is retooling such that women will be able to run heavy machinery.
To Deal With The Labour Shortages
“This is a time when every company is facing a tide over labor shortage. And every small company is training women to run heavy machinery in our plant…We’ve taken up some of the re-tooling and converted these machines in a more women-friendly way. Nearly 40% of the small-scale industry employees are women now,” he said.
The place of women in the Indian MSMEs and the entire labor market is becoming more appreciated. With wages becoming attractive to these classes of workers, more are incentivized to join the workforce with no defined barriers to entry.
The Indian marketplace is undoubtedly working its way to becoming a hub for both men’s and women’s equality in the job market.
Is It A Good Idea Or Not?
By seeing the effect of the actions, we can determine whether this step is worth it or not. The facts are elementary. Now we all can see that hiring women is really worthwhile, hence maybe hiring women is not appropriate for heavy machinery work.
But women who are not spoken at times have better technical knowledge. And hiring women are always going to profit the country and the organizations.
The country can only grow when every different race takes part in it. And recruiting women is part of this game. Women empowerment is the biggest achievement of this step. When women earn as men in society, the country’s financial growth will also improve.
This recruiting process is becoming a very stable step that the company founders are taking. The pandemic loss will be overcome, and the growth rates will be more stable for the Indian MSMEs.
Wrapping It Up:
What is your opinion about the Indian MSMEs’ growth? Do you agree with us? Fingers crossed that economic growth is always possible with MSMEs growth.
The Indian economic growth is always associated with the growth of the men’s and women’s financial situations. What are you thinking? Are we missing any of the points? Then comment back to us and let us know your opinion.
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