WOMEN IN TECH & THE GENDER GAPPOSTED:
How Companies like Loop Are closing the gap in the industry
International Women's Day 2023 is here, with the theme of "DigitALL: Innovation and technology for gender equality".
While the current market is composed 47% by women, a roughly 24% of women are holding jobs in the tech industry. Are women not interested in this industry? Is this why only 31% of bachelor degrees in this field are obtained by women?
Let's look at some stats:
According to the National Center for Women & Information Technology, women make up only 26% of the computing workforce in the United States.
In 2020, women held only 20% of tech jobs in the top 75 Silicon Valley companies.
According to a report by McKinsey & Company, women in tech are 1.5 times more likely than men to leave the industry.
The percentage of women earning computer science degrees has declined since the 1980s. In 2019, women earned only 21% of computer science degrees at the bachelor's level, down from 37% in 1985.
According to a study by Girls Who Code, 74% of young girls express an interest in STEM fields, but only 18% of computer science degrees are awarded to women.
Women in tech also face a gender pay gap. According to the 2020 Dice Tech Salary Report, women in tech earn, on average, 81 cents for every dollar earned by men.
The gap is undeniable and large. This is not a small feat for women, when it comes to considering a career in tech, but we should not be discouraged. Companies that seek inclusivity exist. They are listening to our voices and helping us breach this massive gap.
We'll take a look at the current ecosystem and the prevalent gap that still exists. But don't worry, we'll also be highlighting the companies that are doing their part to make tech a more inclusive space for everyone. So, let's kick this off and show the world that women can tech just as well (if not better) than anyone else!
The Current Ecosystem
Do you remember Madeleine Albright, the former Secretary of State who advocated for women's empowerment? She was a true superhero and a symbol of smashing glass ceilings. Let's take a moment to appreciate her and all the other badass women who paved the way for us. Although we celebrate Women's History Month every March to remind people that women deserve equal access to jobs and education, women should be celebrated throughout the year. It's 2023, and we're still talking about gender inequality??? Come on, world, get your act together.
It's no surprise that the tech industry is falling short on gender equality. Despite the industry's potential for innovation and progress, statistics show that only a small percentage of women see a career in technology as their first choice, with just 16% of women having had a career in tech suggested to them, compared to 33% of men. Additionally, a staggering 78% of students can't even name one single famous woman working in the field. And even for those women who do manage to break into the industry, only 5% of leadership positions in technology are held by women. These numbers paint a discouraging picture and indicate that gender inequality is still prevalent in the tech sector, perpetuating lower pay, fewer opportunities, and yes, sexism.
Statistics show that women applying for tech jobs in 2020 were offered 2.5% less pay than their male counterparts, and between 2018 and 2020, the increase in female employees in tech was only 2.9%. Even with new maternity leave reforms, 50% of women leave their tech jobs by the age of 35. It's as if the industry is saying, "Hey, thanks for your work, but your uterus is getting in the way of our innovation. Bye!" In Israel, a land of startups and venture capitalists, women only make up 33% of tech employees, and in the US, women made up only 32.2% of employees in large tech companies in 2021, according to Deloitte.
Fortunately, some people are making an effort to address this issue. Elie Wurtman, Managing Partner at Pico Venture Partners, created PICO Kids to teach children, both boys and girls, 21st-century skills within a value-based framework. It's like teaching kids to be mini superheroes who solve problems and see challenges as opportunities. And, surprise, surprise, he maintains an environment where equality and gender balance are the norm.
Dr. Gila Aloni, an expert in DEI and belonging (DEI&B), knows the importance of diversity. Studies have shown that hiring a diverse team is actually beneficial for business. It's like having a potluck where everyone brings a different dish, and you end up with a smorgasbord of deliciousness. When we see only one kind of success story or role model, it's easy to think that's the only way to succeed. Let's embrace diversity, folks. It's not just the right thing to do; it's also the smart thing.
10 companies that bridging the gender gap
- Abbott - The medical supply company has had women leaders since its inception, and it provides a structured year-long mentorship program to support women in achieving their potential at work.
- Aramark - Recently named a Winning "W" Company, Aramark has made huge strides in being more inclusive and supportive of women. It offers a business resource network for women employees and has a corporate board made up of 30% women.
- Avanade - A global professional services company providing IT consulting and services, Avanade is dedicated to investing in the future of women in tech. It even earned the title of 2020 Employer of the Year from the Women in IT Awards.
- Bank of America - The company's initiative, Investing in Women, rebuilt its practices from the ground up, starting with mandatory diverse hiring guidelines. The bank also has regular conversations and employee surveys to ensure careers are on track.
- Bumble - As a woman-founded company, Bumble takes women's leadership and growth seriously. Employees have sit-downs to discuss their career trajectories every few months and are encouraged to work flexible schedules that meet their needs.
- Carbon - The 3D printing technology company is led by female-empowering CEO Ellen Kullman, who was named to Comparably's "Best CEOs for Women" list. Carbon is leading the way to increasing representation with many majority-female teams.
- Citrix - As a leading software company, Citrix is proud of its efforts to empower young women in tech. The company has an extensive partnership with Girls Who Code and is a founding member of the College Loop program.
- Cognizant - Through Women Empowered, Cognizant employees can attend networking events, forums, and a book club, all specifically designed to bring women together and provide insight into the workplace. Cognizant has pledged to close the gender gap and is aiming to employ 100,000 women by the end of 2020.
- Deutsche Post DHL Group - Winner of a 2019 Catalyst Award, Deutsche's Women in Management initiative identified four main barriers to women's advancement and created concrete solutions to those obstacles.
- Unilever – Unilever is a company that makes products for people while trying to make the world a better place. They're really into making sure their employees are happy, and they've already achieved their goal of having half of their management team be women. They're also working on getting more women in departments that usually don't have many, like Supply Chain and Tech.
And last, but not least, Loop Mobile. Our company was founded with progressiveness at heart. Our founders firmly believe in not only fighting the climate crisis and erasing our carbon footprint, but also in human rights issues, especially those of women.
This is why, Loop has begun closing the gender gap; making us one of the fastest, male-dominating company, to deliver on its promise. And just in 2023, we are already led by amazing talent, such as Diana Cholakova, our CFO, Nhora Murillas, our Global E-commerce Reconciliation Supervisor, Daria Kotlowska, our fabulous UX designer and product engineer, Fernanda Foster, our creative visual graphic designer, amongst many, many, many exceptional professional women.
Whether it’s taking up a STEM subject in school, joining a “Women in Tech” group, or creating sustainable tech solutions, every action counts. We need to break the stereotype that tech is just for men and show the world that women have the creativity, intelligence, and drive to innovate in this field too. So, let’s raise our glasses (or our keyboards) to the women in tech who are leading the way towards gender equality and sustainable solutions. Cheers to a brighter and more inclusive future!