The trend of advancing women in technology is not mainstream because they aren’t given enough details on what working in the field entails, and no one is presenting it to them as a viable choice.
A lack of female role models contributes to the belief that a career in technology is not for them. Just 22% of students can name a well-known woman in the field of technology. Two-thirds can name a prominent figure in the field of technology.
Over a quarter of female students claim they’ve been discouraged from pursuing a technology career because men dominate it.
If technology companies want to recruit more female employees, they must emphasize how technology can be used for good. When it comes to choosing a potential career, half of the females claim that feeling like their job makes the world a better place is the most crucial aspect.
In the tech industry, diversity is critical because it allows companies to create better and safer products that consider everyone, not just one segment of society. Furthermore, according to a McKinsey report from 2020, diverse companies outperform, hire better talent, have more engaged employees, and retain workers better than companies that do not reflect priorities diversity and inclusion. Despite this, women continue to be underrepresented in the IT field.
There is proof that the lack of technology is impacting business efficiency. According to a 2016 survey conducted by IT outsourcer Harvey Nash and auditing company KPMG, 65 percent of chief information officers (CIOs) and other business leaders believe that recruitment problems hinder IT modernization efforts.
Increasing the number of women working in technology is an easy solution. According to tech chief Judith Spitz, who spoke at an innovation conference, technology is the only STEM discipline in which women’s participation has decreased in the last 22 years. The need for engineering professionals is not the only justification for improving gender diversity in technology, nor is it the most compelling point.
A lack of women in technology will result in lower productivity and earnings, resulting in a lost opportunity for those companies.
The need for and impact of getting more women in technology is illustrated by literature exploring the impact of women in the workplace — specifically women collaborating on teams and leadership roles. According to Morgan Stanley’s research, greater gender diversity in technology can impact businesses‘ bottom lines.
Demands for greater female economic involvement have grown stronger, often based on political or cultural concerns based on justice.
However, a convincing case for diversity and inclusion can be rooted in the bottom line, where ensuring that more women work and lead in the workplace is simply good business, particularly for investors who care about ethics as well as income.
Gender diversity is particularly relevant in industries where employee engagement and satisfaction are measured by the quality of the product or service. That statement applies to financial, retail, leisure, and business services, as well as technology.
In terms of the proportion of women workers, a horizontal bar graph shows businesses’ success in the top, middle, and bottom thirds.
Consider the return on equity (ROE) of corporations over the last six years. Companies with more gender diversity had a 0.7 percent higher ROE on average than their regional business peers. As compared to firms with low female representation in the workplace, the number increased to 1.1 percent higher ROE. Teams with more gender diversity have not only higher returns but also lower volatility. Over the last five years, some firms have outperformed firms with low diversity or sector peers.
Morgan Stanley’s report is backed up by other studies as well. According to a survey by management consulting company McKinsey, firms in the top quartile for gender diversity were 15% more likely to have higher financial returns than industry medians. According to a field experiment published in Management Science, teams with an equal gender balance had more significant revenue and income than male-dominated teams. Gender diversity was related to higher sales income, more clients, and higher relative earnings.
According to Topics in Cognitive Science, researchers use the word “common collective intelligence” to refer to a group’s ability to perform well over a broad range of activities. The idea is similar to general intelligence metrics for individuals. According to research published in Science, the number of women in a group increased the group’s collective knowledge. One theory is that having more women in the room increased joint social sensitivity, resulting in higher collective intelligence.
The moral of the story is that gender diversity will improve income and productivity. Increasing the number of women employed in technology can have a direct effect on achieving business objectives.
Women are often better leaders than men, according to research conducted by strengths-based leadership company Zenger Folkman. The findings were based on a survey of over 7,000 high-performing business executives.
Advancing Women in technology were particularly well-represented. In information technology, where women had a percentile score of 52.1 compared to 42.0 for men, the difference in leadership effectiveness between men and women was the most pronounced. Many male-dominated roles, such as engineering, research and development, legal, product development, and sales, had the most significant differences in addition to information technology. In 12 of the top 16 work functions surveyed, women were ranked higher.
Female leaders were rated higher than male leaders in other findings. This was true of leadership effectiveness by rank as well as top competencies. It’s worth noting that females scored significantly higher on 36 of 49 competency survey items than two things for men. The remainder of the survey questions were all neutral.
Zenger Folkman’s results were backed up by a survey from financial services firm Credit Suisse. Credit Suisse analyzed over 3,000 companies from 40 countries and all major industries and discovered that companies with more women on their boards of directors had higher returns on equity, higher dividend payouts, and better stock results.
Companies with more than 15% of women in top management positions, for example, received a 14.7 percent average return on investment. As compared to businesses where women make up less than 10% of top management positions, ROE is 9.7%.
Based on female representation, a visual chart depicting the percentages of return businesses receive is shown.
“Whatever the more qualitative judgments as to the advantages of greater diversity might be, there appears to be a material quantitative consideration for investors,” Credit Suisse said after detailing data points in the study.
The message is clear: women can lead more effectively, which has a direct impact on employee growth and success, as well as company income. Technology firms, among other fields, should take note and concentrate on recruiting more women in leadership roles.
How will corporations entice more women to work in technology and leadership positions? According to Gianna Scorsone, chief operations officer at staffing agency Mondo, this is a daunting challenge, but there are a few ways to boost gender diversity in technology. Focus on implicit biases: Hiring and management practices can lead to inequity and unconscious biases. If left unchecked, they can make workers defensive about how things are. Companies should review work advertisements for gendered language and anything else that might send the wrong message.
Involve women in the hiring process: Having women interview and recruit candidates will eliminate sexism in the hiring process. Another advantage is that good female representation will encourage female workers to want to work for that company.
Increase the number of laws regulating work-life balance: Inflexible work arrangements overwhelmingly affect women, with childcare being the most common example. Non-traditional work arrangements are becoming more common in the technology sector, and this can be a relatively simple way further to increase the number of women in the workplace.
Convenient educational choices may also help women obtain the education required for a variety of lucrative and in-demand occupations. An online B.S. in Computer Science or an online IT degree will train you for positions such as database administrator, software developer, web developer, IT manager, information security analyst, and more if you’re interested in a technology career. With an online master’s in IT, you can seek a higher pay opportunity and more advanced positions if you already have a bachelor’s degree.
The opportunity for technology to better the lives of women and girls worldwide is too big to give up. “If we combine the best of the global technology industry with the creativity and resourcefulness of women on the ground to overcome the digital divide problem, we will unleash a gigantic wave of human potential and freedom for future generations,” says World Pulse founder and global women’s empowerment chief Jensine Larsen.
Amazing things will happen when there is no gender discrimination. Professional careers advance at a rapid pace. That is the focus of Advancing Women in Technology.
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