Women in Tech: Boosting Innovation and Profitability
More and more women are entering the tech industry every day, and their presence is being noticed. And while it’s no secret that gender equality in the workplace has been hard-won for women, progress is being made. The overall representation of women in tech has grown over the past few years, from under 26% to nearly 29%. Of course, this means there is plenty of room to grow, and there is good reason for companies to increase their gender diversity.
Gender diverse companies see better results
According to McKinsey, research has proven that companies with gender-diverse teams are more innovative. This is because diversity makes these teams better able to anticipate changes in what consumers need and want in their technology products, ensuring new products and services are continually being created to meet market demand. Ultimately, this makes diverse companies more competitive.
McKinsey also reports that gender diversity increases a company’s profitability. In 2019, companies in the top 25% for gender diversity had a 25% greater chance of reaching above-average profitability. When it comes to women in executive roles, companies with the most gender diversity were 48% more profitable than those with the least gender diversity.
Add to the above benefits of innovation and profitability, there are a whole host of other benefits to having gender-diverse tech teams. These include:
- A bigger talent pool from which to pull qualified tech workers
- More vision and greater problem-solving skills, for improved decision-making at all levels of the company
- Improved employee satisfaction and motivation
- A better company image on a regional, national and international level
How to embrace gender diversity in tech
Increasing gender diversity within a company means bringing women onboard at every level. For startups, this means hiring women in leadership roles, as well as other roles within the company, right from inception. This sets a precedent for gender diversity within the company.
Established companies can begin hiring more women in all roles and promoting women to all levels of management. The value of women seeing other women in management roles will only help to increase gender diversity because it will encourage more women to apply for jobs.
Other ways companies can increase gender equality in the workplace is to:
- Increase their recruitment of women from universities, colleges, and other sources
- Assign strategic, high-value tasks to the women they employ, making sure they are able to contribute to the innovation and success of the company in a concrete way
- Create a culture of inclusion to eliminate discrimination in the workplace
- Provide equitable compensation at all levels within the company
- Support a work-life balance that makes it easier for women to juggle the responsibilities of work and home
Tangentia’s commitment to women in tech
At Tangentia, we are committed to gender equality and supporting women in tech. This is why we have worked hard to reach a 50% representation of women in all roles and at all levels within our company. Plus, we have received the Great Place To Work India Award for 2022.
One of the amazing women we have working at Tangentia is Ashwini Hedge, Practice Head of Delivery and Automation. Ashwini is an integral part of our team, working closely with her colleagues and with clients to achieve the very best results. In addition, Ashwini does public speaking events highlighting automation and the future of the workplace.
If you are interested in applying for a position at Tangentia, visit our career page to view the opportunities we have available. We can’t wait to hear from you!