Why It’s Important to Have Women in Technology
Even though more women work in technology than ever before, in 2022 only 24 percent of computing jobs were held by women and only 19 percent of STEM majors are women. That underrepresentation does a disservice to the women, and also to society, as a whole. Women can bring a fresh approach and offer unique perspectives to meet challenges, solve problems, and design new products. They can also bring more women into the tech fold, and since technology often offers high salary opportunity, their presence in the industry can help reduce the overall gender pay gap.
There are many benefits to women in technology:
Need for a Woman’s Perspective in Technology and Research
Whether in technology, design, or medicine, there is danger when half the population is ignored. For example, the original airbag design that excluded women and children in its research resulted led to the death of 22 adults in 1997, most of them small women. Would this have happened if women were considered in the original design?
Equalize the Pay Gap
The American Association of University Women (AAUW) reports that in 2021 women were still paid 83 cents to every dollar earned by men. This fact affects women today and leads to women receiving less in Social Security and pensions. The retirement income of women is 70% less than their male counterparts. But in technology the gap is narrower. Instead of a 17 percent gap, there’s only a 3.5 percent gap for women in tech careers. The more women work in technology, the less the overall gender pay gap we will see.
Women Lead More Innovative Organizations
A study published by the Harvard Business Review, found that diverse teams develop more innovative ideas. When people of different genders and walks of life work together, they bring unique perspectives resulting in greater creativity. Innovation is a critical component in the design of any new technology.
Better Return on Investment with Women in Technology
According to the Boston Consulting Group, businesses started by women deliver higher returns on investment than those led by men. One possible reason is that venture capital investors place a higher threshold on women-owned startups, so women need to have especially strong business plans. By some estimates, $12 trillion could be added to the global Gross Deomestic Product by 2025, simply by advancing opportunities for women.
Women-Owned Businesses Hire More Women
When women-owned startups do get funded, they hire 2.5 times more women than men, according to an analysis done by Kauffman Fellows. Companies with a female founder and a female executive hire six times more women. This is important to help equalize the pay gap, gain a woman’s perspective when designing new technology, and achieve a higher level of innovation.
A Greater Focus on Social Contributions with Women in Technology
According to research published in the Journal of Entrepreneurship & Organization Management, women-led businesses are more likely to be focused on making a social contribution and building good relationships with their employees. Women in technology help society, innovation, and corporate earnings.
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