Tech industry requires proper women empowerment. More women in tech are needed by 2030
Less than 25% of STEM (science, technology, engineering, and mathematics) professionals in the US are female, which is a shocking statistic for women in tech. The number of women earning computer science degrees actually decreased between 2006 and 2014, according to data from the US National Science Foundation.
Even if the proportion of women in the STEM field has increased to 46%, it is still far lower in the technology industry. The fact that the tech industry is still dominated by men is due in part to a dearth of female role models, gender inequality in the STEM field, and a lack of practical STEM expertise. So, we clearly see why women’s empowerment is needed in the tech field. Here are three reasons why we need more women in tech.
1. Diversity Increases Revenue
High-gender-diversity businesses outperform their peers in terms of returns, and over the past five years, they have outperformed less diverse businesses on average. Companies that not only hire more women but also manage to keep them on board automatically have a competitive edge, which benefits all parties involved.
A study was done by the Technical University of Munich and Boston Consulting Group (BCG) to better understand the relationship between diversity in management. According to the findings, both emerging and established countries benefit from more and greater innovation as well as superior financial performance when leadership teams are more diverse. According to the survey, businesses with the highest levels of gender diversity (those with 8 out of every 20 managers being women) received around 34% of their most recent three-year revenue from innovative goods and services.
With an estimated $5 trillion in purchasing power, Fortune 500 companies with at least three women in leadership positions witnessed a 66% improvement in ROI. We all make purchases of cars, computers, and other consumer products with that power. Furthermore, it is difficult to argue against the fact that women make the majority of household purchasing decisions. It seems like a risk that most firms shouldn’t take to ignore the existence of women in the workforce.
2. Female Thought Process
Interacting with a diverse team naturally requires people to be more prepared and anticipate different points of view. The presence of women causes people to expect differences in viewpoint and perspective and makes them believe that it will take more effort to reach an agreement. That kind of pressure is advantageous for all of us.
Men and women each have distinctive perspectives and thoughts to offer. This makes it possible to solve problems more effectively, which can improve business unit performance. Imagine all the purchasing power you will be able to access by combining a diversity of genders and backgrounds and nationalities. Even better, you will have access to a very effective recruiting tool after your company develops a reputation for having a more diverse workforce.
3. Women Need More Role Models
Recognizing female tech pioneers, will ideally inspire more girls to pursue their passions and careers in computing, broadening the diversity of the recruiting pool. We must make sure that young girls have great role models in other accomplished women in STEM fields and that women have a seat at the table so they can discuss gender equality with males.
Being a woman in the IT industry is not always simple, and there can be invisible pressure on women when they are the only ones in the boardroom. Accountability encourages behavior, and we require public regulations to make sure employers are acting ethically.
We need to prioritise gender diversity as a business issue if we want to support an organization’s potential growth. No one ever makes a personal decision in a vacuum. Obstacles in the form of economic, cultural, organisational, and policy influences both men’s and women’s possibilities and choices. By creating inclusive goals and making all managers responsible for diversity and inclusion, leaders should identify those business units that are currently less diverse and create a complete hiring strategy without lowering merit.
The solutions are already available: provide girls with role models, educate them on the necessary skills, inspire them, and demonstrate to them how a career in technology would improve the world. In order to use this change to advance our global society by 2030, women can and will play a crucial role.