Women entering the workforce in more significant numbers are breaking the glass ceiling of corporate designations which were once male-dominated. Awareness and educational facilities reaching out to more women enable them to reach great heights in every field be it sports, business or politics. This empowers them to break stereotypes and achieve great success.
One such area in which women are making their presence felt is in the top designation of Multinationals, commonly called as the C-Level or CxOs roles. CxOs are corporate executives like CEOs, COOs, CFOs, etc, who hold high-ranking titles within the organization. These executives ensure that the company’s strategies, decisions and day to day work align with the company’s strategic goals.
These CxO positions vary from company to company with larger companies having more executive positions to distribute the large workload. These variations also reflect the company’s maturity and goals.
The CxO Mandate
According to The Companies Act of 2013, certain companies should have at least one woman in their Board of Directors.
Women gaining such important and influential positions within the corporate sector are bringing a lot of positive changes in the organizational structures. This makes the working environment more women-friendly, giving them an equal opportunity and removes obstacles that were prevalent before.
Organizations too are conducting training programs that are meant to sensitize male co-workers on the importance of being gender-sensitive. Increasing the women workforce is also making amends in the organization’s structure to retain women workers by introducing facilities like crèches facility, more maternity leaves, etc.
Women occupying such high positions have made them stronger as individuals and as a community. This has also given women the financial freedom they always deserved. The last decade has seen a rise in the number of women investors and thus, banks have come up with financial instruments, investment portfolios, and banking facilities specially designed for women.
Women can enjoy special facilities like a women savings account, preferential rates while availing a loan, higher interest rates when it comes to fixed deposits or savings accounts. However, the financial product most popular among women is the women’s savings account.
Banks have come up with a savings account which is specially curated keeping in mind the lifestyle of the modern woman. Some of the features include higher interest rates on their balance, waiver of fees, discounts and offers on debit card usage, reduced minimum balance required, etc.
The benefits and offers differ from bank to bank and thus, you must always compare all the banks before choosing one. Consult the relationship manager of these banks, understand the benefits offered by them in details and then make an informed decision so that you get the maximum benefit.
Being financially independent gives a boost to your confidence and lets you reach even newer heights.