What does increased participation of women mean for the tech industry?

Increased participation of women in the tech workforce has more profound benefits than sore detriments. Recent developments in the world since the outbreak of the pandemic humbled humanity and left the world in uncertainty.

Globally, many companies in almost all aspects of the economy had to close their doors leaving thousands and thousands of people out of the economic sector.

In almost all sectors of the workforce, unemployment has become the most devastating consequence of the pandemic negatively impacting the livelihood of people.

Despite this sore fact, the technology industry is rapidly increasing creating thousands of jobs in the world, demanding more skills, and opening doors for many people to pursue their careers in the sector.

But the tech industry is notably known for its gender disparity. A fact which over the years has been negatively impacting the industry. Issues of male-dominance, less female interest, toxic masculine culture, and the gender pay gap are more common in this sector.

A lot has already been done in the past to interest females in the science and tech industry.

Unfortunately, the number of females in the tech sector is only increasing at a snail pace while at the same time women are leaving the industry to work elsewhere.

In Europe, only a few women are interested in the digital sector. European Commission conducted a study in 2018, in which the findings were rather frustrating.

According to this study titled Women in Digital Age, women’s participation in higher education, entrepreneurship, and career in the digital industry was relatively low compared to men. A factor that has been increasing the gender gap over the years.

The report states that only six from the 24 out of every 1000 female tertiary graduates who studied ITC go on to work in the digital sector.

The number also confirmed a decrease in women’s participation compared to 2011. The study suggested that if more women were to enter the digital jobs market, it could create an annual €16 billion GDP boost for the European economy.

The Tech sector is one of the rapidly growing economic sectors in the U.S and almost impacts every aspect of society. Just like in a global arena the US is not immune when it comes to the under-representation of women in this industry.

Research by Accenture conducted in partnership with Girls Who Code identified that a computing workforce would shrink from 24% to 22% in the next 10 years. This also leaves the industry yearning for unique skills that are in dire shortage. The shortage of these skills was expected to damage the U.S economy.

A lot has already been done to include women in the sector. By 2015, there was a need to fill 500.000 computing jobs in the sector at a time when only just more than 40 000 new computer science graduates.

Research suggests companies with a diverse gender representation and inclusion of employees from different backgrounds are innovative, productive, contribute to the economy and boost the countries’ GDP.

Then what does increased participation of women mean for the tech industry?

1. Boost countries economics

Economies of multiple countries in the world are missing a massive potential of the female workforce. The skills of women in the tech and science sector could subsidize the gross domestic products (GDP) of many countries. Startups founded by female entrepreneurs in Europe are likely to succeed but the decrease in participation and investment in tech entrepreneurship is leaving many countries in the regions losing billions of euros due to annual productivity loss. The success of female-founded startups highlights the ever-needed gender-equal representation in the sector.

When successful startups contribute to the economy, countries will collect more taxes and positively impact the lives of their people. Reports have shown that since the advent of technology many countries have been benefiting from the innovations and improving the services of their people. The business had since massively the way they sell products and services and in return giving their customers an amazing experience. When females are at the forefront of the tech industry the distribution of services also appeals to a larger population. The Tech sector needs to be more inclusive as both males and females use technology to access government and private services.

2. A diverse group is more productive.

People from different cultural, sexual, and racial backgrounds are bound to bring new unique ideas to the table. This means that new ideas will lead to technological innovations that are more appealing to a greater market within our society. Our society is in severe need of diversified tech products. Women are more inclined to bring new perspectives to the digital sector.

In almost all disciplines of the workforce, diversified teams are more likely to be more profitable and increase the best overall performance of the company. Tech companies that are more diversified, specifically at the management level, are bound to be more successful and become leaders in the tech field. For example, many startups founded by women were likely to be successful.

The results of the study by Boston Consulting Group (BCG) have shown that the greatest gender diversity allows the companies to generate more revenue. The studies indicated that companies with huge gender diversity, specifically those that have females at the management level, were able to generate more revenue from innovative services and products. It is known that female employees are also responsible for most of the household chores and spending decisions. This means that their presence in the sector will allow space for products and services that include the needs of many households around the world.

3. A Positive and balanced work environment

A positive work environment gives employees a balance between work and personal life. The inclusion of women in the sector will give both men and women to function in an environment that is more welcoming and less frustrating. Working in a company that is full of one gender or race can be more pressurizing, place a burden on you, and often drives you to think that you don’t belong in the room. Although if you may need to exploit your new ideas, the fact that you are all alone by yourself with few people or without anyone from your background can be frightening. This is one of many factors that employees in almost all fields lookup for when they get the offer to start in the company. The success of a tech company that is inclusive of people from diverse backgrounds is inevitable.

4. Growth opportunities

Diverse tech companies will provide an opportunity for all their employees to have a platform to grow. The inclusion of women in the sector will help companies increase the number of women at the management level. This will provide female leaders who will be able to take on the pressure, understand the dynamics of the company and find solutions to many of the toxic habits that may have already been in existence. Women will then grow to mentor young people who are probably starting in the sector.

The availability of mentors that young girls and women can relate to will absolutely influence the greater path for development and nurturing. In return, this will provide multiple opportunities for women in the sector to grow their career trajectories and plan to sustain them and stay long in the industry that is known for pushing women out due to its work culture.

5. Role Models

The Tech industry needs to celebrate female leaders, give women a seat on discussion panels and tables. Give women opportunities specifically where important decisions are taken. This will influence role models that will make it their priority to ensure that young girls and women can easily access them. Celebrate women leaders, it will go a long way in encouraging young girls to take on the STEM subjects in schools and ultimately follow their careers in this field. Governments all over the world need to initiate public policies that will inspire employers to include more female roles in their companies.

The Tech industry needs to implement several actions to increase the participation of women in the sector. The European Commission which conducted one of the studies that included the European countries outlined strategies that tech firms can implement to increase women’s participation in the digital sector. It reckons there is a need to challenge the gender stereotypes, promote digital skills and education. The industry needs to empower females and advocate for the inclusion of women entrepreneurs.

It needs to be more receptive to women and provide a platform that will allow women entrepreneurs to easily start their business journey. Although entrepreneurs face challenges in their careers, if some of these challenges influenced by the tech culture are addressed, more women will start to get involved and found their tech startups without fear of failing.

Diversity and inclusion in the tech industry need to be an ongoing campaign and a work that is continuously maintained and improved. Tech companies and industry leaders should be more involved in these campaigns and champion women empowerment. Increased participation of women in the sector will allow us to ensure that businesses are prioritizing gender diversity.