Women in the Tech Industry: Growing Role of Women in Tech
As automation makes its way onto processes across many work streams, there is one troubling statistic that we must all work towards changing. Women face a 11% risk of losing their jobs due to automation in comparison to 9% of men. This means, a global number of 180 million women’s jobs would be irrelevant.
This can change and is changing by training women to master skills in science and technology. Technology is influencing the way the world economies function and by getting work women in the tech space, equality in the workplace is bound to improve.
Read on to learn more about the current scenario in the tech industry and the various ways in which you and your business can propagate this change.
Let’s Talk Numbers
A study by the BCG and the Technical University of Munich suggests that companies that have at least 8 out of 20 female managers generated 34% of revenues from innovative products and services in the last three years. Also, Fortune 500 companies with at least three women in leading positions saw a 66% increase in ROI & have a purchasing power of an estimated $5 trillion. These numbers are proof enough that more women in leadership roles tends to boost performance and innovation.
A Diverse & Inclusive Workplace
Diversity is critical in the tech industry as only diverse hiring can lead to the creation of products and service that is inclusive of everyone in the society. In today’s world where it is still an uphill climb for women and especially women of colour, diverse hiring gives a business the competitive advantage. It inevitably leads to higher retention and generates new talent interest.
What’s more, it enables better problem solving. How? Simply because of the unique perspectives women and men bring to the table.
Retaining Women in Tech
30% of women leave tech jobs due to low salary, long work hours and no clear progression. 27% leave for the lack of a work-life balance and 17% leave due to disparity in the work culture. Retention rates hold a chance of improving by working on these gaps.
By building better mentorship programs, having mentors who are interested in their personal development and a flexible workspace, women can thrive in the tech industry. It is a crucial priority to change these numbers as women need more women in leadership roles to be inspired and driven to someday get there too.