Women are underrepresented in STEM industries, with women only holding 20% of tech jobs. This presents a huge gender gap in the science and technology fields and it’s not only a disservice to women, but to the industry and humanity as a whole.
Here are some reasons why it is so crucial we encourage more women in tech.
Diversity Generates Innovation
Decades of research have shown us that the more diverse the team, the greater the results. If you have a room full of similar minds, trained the same way to approach problems, in the same way, then there is not much innovation.
When you hire diversity you are onboarding different methods and strategies of thinking and those different minds challenge each other to think outside of the box. By bringing together individuals of different genders, sexual orientations, backgrounds and ethnicities, you can suddenly have a much more dynamic atmosphere where creative thought can flourish.
Closing the Gender Pay Gap
Women are offered lower salaries, which isn’t just in the tech industry. A UK gender pay gap study found men are 18% higher paid than women. However, when it comes to high-tech fields, the figure rises, with men earning 25% more than their female counterparts. As women enter the field and move up in leadership roles, they can be instrumental in creating a more transparent environment.
Diversity Generates Impact and More Revenue
Women not only drive innovation, but they also drive impact and revenue. Research conducted by the Peterson Institute stated that companies which were more gender-diverse were more profitable. The study showed that companies with a 30% female share experienced a 15% increase in profitability in comparison to those with little or no gender diversity.
More revenue means more profit and more funding for research and development, which benefits all.
To Close the Talent Shortage
In certain tech areas, there is a serious lack of qualified talent, meaning that companies often struggle to hire. According to a study by Robert Walters, “over 70% of technology employers are experiencing skills shortages”. Talent shortages hurt the companies and the industry, impacting the economy and slowing down the rate of tech development.
The tech shortages relate to the lack of graduates in certain fields. PWC reported that the gender gap in technology starts at school and in further education.
PWC interviewed A-Level and university students and found that 16% of females had been suggested a tech career compared to 33% of males. Only 30% of females had opted for a STEM subject at university, compared to 52% of the males.
If we attract more women at a study level, you have more graduates in areas where there is a deficit.
Impact Tech for Women, by Women
The tech industry exists for the needs of the people. If women are not present in it from the core, their needs are unlikely to be represented in its results. If viewing this from a business point of view, it is clear that the tech industry is missing out.
When women make up almost 50% of the population, this section of the market is ignored by the tech industry. Having more women leading in tech research and development means greater impact and opportunities to meet the needs of women and tap into an economic force.
For Future Generations
One of the most important reasons for more diversity in STEM is to provide active role models for future generations. To inspire, and encourage girls and those marginalized to pursue careers in the tech industries. There are initiatives like Girls Who Code, which reach out to women and show them tech roles are viable careers. They also help to break down the stereotypes within a longtime male-dominated industry.
Diversity for Strength
Having more diversity adds to and strengthens the tech industries and propels innovation for the betterment of society. In order for more women to join those in tech, we need greater visibility of those already making waves.
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