Need more women in tech to turn the wheel of the digital wave and have gender equality at work
In non-tech companies, where technology serves as more of a supporting role rather than the driving force behind innovation, 79% of Indian women employees in tech roles are employed, according to a recent Skillsoft Women in Tech research. In addition, as we move up the ladder, the representation of women entrepreneurs declines rapidly.
While 13% of female employees held managing director-level positions, just 7% of women held executive-level positions (CIO, CXO, CISO). Men outnumber women in leadership positions in their organization by a ratio of two to one or more, according to 66% of the female respondents. A clear sign of the absence of gender equality in the workplace.
According to NASSCOM, India’s technology sector experienced its highest-ever growth rate of 15.5%, growing to $227 billion in sales in 2022. The overall number of direct employees also surpassed 5 million, with a record-breaking net addition of 445,000.
These figures suggest a thriving market, but additional examination reveals that the sector suffers from a gender gap issue. Even though there are much more women working in the technology sector in India (34%) than in any other private sector, the gender gap in the talent pool is too vast for comfort.
Sheryl Sandberg, a former COO of Meta and one of the most successful women in technology has motivated millions of young women to break down barriers and make a name for themselves in what is generally considered to be a “male-dominated” field.
According to her famous quote, “We need women at all levels, including the top, to shift the dynamic, reshape the debate, and ensure that women’s perspectives are heard and taken seriously rather than being neglected and disregarded.” The historical underrepresentation of women in the field of technology prompted Sheryl to issue a clarion appeal.
Is it a paradoxical situation where India Inc., wants to close the skills gap and develop a talent pool for the future of technology yet continues to ignore the chance to develop female tech expertise?
According to a ManGroup analysis of talent scarcity, 63% of Indian businesses cite a shortage of qualified workers, mostly in the fields of IT, technical services, and sales. Leaders in the technology sector are constantly searching for qualified people to fill the growing gap in digital skills and support innovation within their organisations.
By investing in more female talent, this skill gap can be closed in several ways. Women represent an underutilized talent pool that can cover the gap between the talent available and the abilities required to remain competitive.
It is crucial that women are represented more fairly in technology. 70 to 80 percent of all consumer purchase decisions are made by women. The presence of women on design and development teams results in more robust, better user experiences, which increase sales. Better and alternate perspectives are made possible by a gender-diverse staff. Men and women have different perspectives on the world, which leads to different opinions. Better problem-solving is made possible, and business unit performance is increased as a result.
In both emerging and established countries, research from Boston Consulting Group (BCG) and the Technical University of Munich has shown that expanding the diversity of leadership teams promotes better innovation and increases financial success. Additionally, the survey revealed that businesses with the highest levels of gender diversity received roughly 34% of their revenue from new, creative goods and services.
To build gender equality on all fronts, there needs to be a solid foundation of large and little, all-encompassing acts. And right now, there is a greater demand than ever, especially in the wake of a pandemic that made it particularly difficult for women to find work.
Despite the fact that numerous organizations have acknowledged the problem and are making concerted attempts to fix it, we are still far away from where we ought to be. Although it will take time, it is essential to eradicate gender biases and instill diversity and representation throughout every company if we are to achieve a gender-equal workplace. An essential step in achieving equal representation is giving women the equal opportunities and support systems needed to climb the corporate ladder.