A report by an HR solutions provider, reveals that the BFSI (banking, financial services and insurance) sector in India has a major disparity in job postings across the country.
As compared to other sectors in the country BFSI has only 18 per cent of female employees in the total workforce with only 10 per cent in leadership positions. This data emphasises the need to address such inequalities and lack of diversity in the workforce.
On the other hand, as per the data, BFSI is experiencing significant growth and transformation in overall performance.
As the COVID-19 pandemic increased the industry reliance on technology, digital financial transactions accelerated in the banking operations which resulted in high growth and better engagement. Additionally, segments like software development, cybersecurity, data analytics, and digital marketing experienced great success.
Data reveals that the most number of job openings are for sales roles in the BFSI sector as it helps in driving revenue and customer engagement.
The survey was done with 60 major companies in the sector from different states and cities. Mumbai ranked as the leading city with over 20 per cent of job openings while Bengaluru was declared as the emerging region with over 19 per cent of job openings because of its robust IT infrastructure which attracts banks to establish their digital platforms.
Overall, the report emphasises the need for organisations to address gender disparity, focus on sales functions, and tap into the potential of technology and innovation.