Changing times call for enlightened leadership, new business models and innovations. One such initiative is taking place in Tata Global Beverages Ltd, which has decided to focus on a theme in its annual report. This year’s theme is women in business.
Writing to shareholders for the first time as Chairman of Tata Global Beverages Ltd, Cyrus Mistry has dwelt upon this “very special and relevant” theme, given the widespread discourse on gender sensitivity in the country and abroad.
Harish Bhat, CEO and Managing Director, Tata Global Beverages Ltd, said, “We will be delighted if this annual report and its theme sparks many positive conversations on recognising and enlarging the roles that women play in organisations.”
Another company official said that “a call was taken at TGB that the company would speak and communicate on a topic of relevance,” adding that may not be a norm across all Tata Group companies, but is set to be an annual feature at TGB.
Titled ‘Celebrating women in business - a manifesto for our times’, Mistry says in his foreword, “When women are insufficiently represented in the workplace, we lose out on fifty per cent of the talent pool. In an environment where human capital makes all the difference between success and failure, this is a massive loss which countries and corporates can ill afford.”
Mistry says “It is, however, equally clear to me that in our company, as well as in most industry sectors across the world, we have a long way to go if we are to truly celebrate women in our businesses.”
The Chairman goes on to add that often, “women bring management styles which are quite complementary to those of men and that workplaces that celebrate women naturally benefit from better decisions, as a result of such diversity.”
Though the annual report focuses on women, the theme aims to flag the wider issues at play, such as opportunities for women, security issues and other professional challenges that women face.
Questioning the role of corporate managements, Mistry asks, “While all of us hunger for faster economic growth, are we giving adequate thought to the subject of appropriate representation of women in the corporate world?”
Claiming that talented women drop out of the workforce “creating a porous pipeline of talent,” Mistry adds that companies need to do much more to retain, develop and grow their women.
This year's annual report’s theme has a precedent. The 1995-96 Tata Tea annual report also celebrated the ‘unique spirit’ of its women - their quiet strength, adaptability and workplace commitment.