Studies have found that women in entry-level positions are promoted to management roles at significantly lower rates than men. McKinsey and LeanIn.Org noted that for every 100 men promoted to manager, only 86 women receive promotions. This disparity has a ripple effect across higher organizational levels, leading to a disproportionately low number of women in senior leadership positions. In a sector such as technology, where women in leadership positions have been traditionally low, addressing this gap is extremely important for a number of reasons.
So what do women bring to the table in the technology industry and how can this representation be increased?
Diversity of perspective
Having more diversity and women in tech leads to better problem-solving and innovation. Women leaders in IT companies bring their unique experiences, perspectives, and insights, which are crucial for developing new ideas and solutions. In fact, studies have shown that diverse teams gave better ROI, took more considerable risks, and drove better profitability.
Inclusive work culture
Organizations must implement a proactive approach to consciously hire women talent and develop them by building an inclusive work environment and improving women’s representation in senior leadership roles. Initiatives must be implemented across the organization, from management to human resources to initiate mentorship programs and directly assist women in preparing for the boardroom.
Positive impact on the bottom line
Promoting women leaders in IT companies has a positive impact on profitability. Studies have shown that companies with 25% of women in decision-making roles had a 4% higher average return on investment, and companies with 50% of women in senior leadership had a 10% higher cash flow return on investment.
This Women’s Day, rather than paying mere lip service, let us as organizations, and leaders take concrete action to attract women to tech early and encourage them on their path to leadership.
