25,000 Female Employees Exit Top IT Firms On FY24, Reveals New Study

A recent study indicates a decline in the female workforce in the country’s top IT companies amid the high attrition rate in the industry. Around 25,000 female employees have exited top IT firms, including TCS and Infosys, in the financial year 2023-24 (FY24), according to a study by staffing firm Xpheno.

The drop in the number of female employees was reported across all top Indian IT players like Infosys, TCS, Wipro, LTI Mindtree and HCL Tech, among others.

The study, undertaken by staffing firm Xpheno, highlighted the gender diversity in the top IT firms in the country. Since the Covid-19 pandemic, a significant increase was observed in the total number of women employees in the industry. However, the gender diversity ratio remained stagnant.

According to the report, from March 2020 to March 2023 an increase was seen in the total number of female employees, within the top IT companies. The numbers showed an increase from an approximate 3,74,000 to 5,40,000. However, in March 2024, the number of female employees in leading IT companies dropped to 5,15,000.

Between FY2020 and FY2024, the total number of female employees increased 38 per cent to 1,41,000. However, the gender ratio increased a mere 0.9 per cent. From FY2018 to FY2020, an increase of 1.56 per cent was observed in female employment.

The study showed that there has been a major drop in number of women in leadership roles in the Indian IT sector. The founder president of Avtar Group, Saundarya Rajesh said, “This lack of progression can be discouraging for ambitious women. Imagine dedicating yourself to a field, only to face constant hurdles to advancement and fair compensation.”

According to her, the lack of opportunities for newly employed women, while belonging to diverse backgrounds, can be incredibly discouraging.

In IT companies, around 26 per cent of women are reportedly forced to resign, the study indicated.