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The Work Before the Win: Women Beyond Representation on Boards
As more women take up leadership positions, the true progress of boards will not be representation alone, but influence.
Over the past decade, Indian boardrooms have witnessed a greater number of women occupying board seats. The narrative has successfully shifted from “if only” to “how meaningfully?”
Indian corporate regulations like the Companies Act, 2013, and the Securities and Exchange Board of India's (SEBI) requirements have played a crucial role in opening doors that were once firmly shut.
The progress is visible. However, numbers alone do not tell the complete story. A deeper look reveals that, even today, most companies resort to tokenism and hire only one-woman director to comply with the mandate. For many women, a seat on the board marks not the culmination of effort, but the beginning of a more challenging phase - one where influence, voice and trust must often be re-established, regardless of experience and credentials.
Quite often, women appointed to boards find themselves navigating quiet constraints. Despite their wider experience, they are frequently steered towards “safe” oversight areas such as HR or people-related functions. A majority of organisations still have a homogenous pipeline of leaders and fall back on promoter or personal networks to fill board and management positions. This creates a paradox that persists across sectors: many capable women struggle to reach strong boards, while many strong boards struggle to find women with the right experience.
When women's seat at the table is equally valued
Boards function best when assumptions are questioned and refreshed, not reinforced. Women often bring differentiated perspectives shaped by varied professional and life experiences, enriching the boardroom dialogue. This shows up in the questions asked, the scenarios explored, and the attention paid to second-order implications.
1. Expertise across domains: Contrary to the belief that women are only suited for people functions, many bring deep expertise across banking, technology, risk, operations and governance. Their contributions influence capital allocation, digital transformation and enterprise resilience. When boards actively draw on this breadth of experience, the quality of debate and decision-making improves.
2. Culture of inclusivity: Board composition has a direct bearing on organisational culture. The presence of women at the top drives more inclusive thinking across policies and governance structures. It signals that leadership is defined by merit and capability, not conformity. Companies with diverse boards tend to better understand workforce expectations, improving talent retention and employee engagement.
3. Diverse perspectives: The presence of women in boardrooms is accompanied by diverse perspectives. Women are often more willing to challenge consensus, examine issues from multiple angles, and question groupthink. Their perspectives, shaped by different professional and personal journeys, enhance boards' ability to navigate complexity with greater emotional intelligence and stakeholder sensitivity.
4. Risk management: Gender diversity plays a vital role in strengthening risk oversight. Women often bring a more deliberate, long-term view of risk, particularly where reputation, trust and social impact are concerned. This results in more rigorous ethical considerations, sustainability, and unintended consequences, strengthening board-level risk governance.
The work that precedes the opportunity
Securing a board seat is rarely the result of a single achievement or milestone. It is the outcome of sustained preparation, visible leadership, and deliberate positioning well before the opportunity arises.
1. Power of networking: The value of a good network cannot be overemphasized. Board opportunities often emerge through trusted circles. Women who invest early in building cross-industry and cross-functional relationships increase their visibility and credibility over time. Meaningful networks ensure that when opportunities arise, there are advocates ready to vouch for them.
2. Credibility building: At senior levels, performance is assumed. What differentiates leaders is their engagement with the broader business ecosystem. Speaking at industry forums, contributing to thoughtleadership, and building a visible point of view help establish board-level credibility. A measured media presence can further amplify expertise and reinforce personal brand.
3. Diverse experience: While functional depth matters, boards increasingly value leaders with enterprise-wide understanding. Women benefit from seeking exposure beyond their core domains – leading crossfunctional initiatives, managing complexity and developing a holistic view of business operations. Candidates with broad, integrative perspectives stand out in board evaluations.
4. Intent counts: Progress requires intent. For women, rising to the top often means raising their hand for stretch roles, articulating aspirations with clarity and stepping into unfamiliar challenges. Sharing their ambitions with mentors, colleagues and leadership networks is critical to being considered when board opportunities arise.
As more women take up leadership positions, the true progress of boards will not be representation alone, but influence. Offering a seat at the table is only the first step; boards must ensure that every voice is heard, respected and meaningfully shapes decisions. The work before the win is demanding – but it is precisely this work that prepares women not just to join boards, but to lead within them.
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Ms. Shefali Goradia
She is the Chairperson of the Deloitte South Asia Board and has over 35 years of experience advising on international tax and governance matters. Based in Mumbai, she leads the Deloitte Boardroom Program in South Asia and also serves on Deloitte's Asia Pacific Board. She is a member of the CII Corporate Governance and Regulatory Affairs Council and is widely recognised by Who's Who Legal and Lexology as a leading global thought leader.
Owned by: Institute of Directors, India
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