What’s the state of play for women in tech in 2023?
In Britain we have a thriving tech industry. Over 95% of placements Brookwood work are tech related, and according to Tech Nation, Britain’s tech firms attracted more than £6bn of venture capital funding in 2018, so it’s a big industry!
Yet, women are still massively under represented within this sector. Why?
Although there have been some changes and improvements when it comes to gender diversity in the technology sector the changes are often still too slow.
Data from 2022 revealed that if the pace of change continues at the same rate, a 50/50 gender split in the technology industry will not be achieved until 2060. But there are still several initiatives and groups pushing for change
Currently, just 19% of UK tech workers are women and only one in ten women are currently taking A-Level computer studies.
A survey of 500 employees in the UK tech sector found that about 60% think their companies could do more to create a more diverse and inclusive work environment.
Women in work: 2023 and beyond.
There has been significant improvement in the overall representation of women in two key areas: leadership (in a few key sectors, not all); and traditionally male-dominated roles like tech, logistics and construction.
- One-third (37%) of new entrants into the UK construction Industry from higher education are women”.
- A survey of 1500 women working in technology found more than half of those aged 18 – 39 reported good opportunities to advance their career.
- Deloitte Global predicts that large global technology firms on average, will reach nearly 33% overall female representation in their workforces in 2022.
- In 2022, women account for 19% of C-level positions in the average supply chain organisation, up from 15% in 2021.
Whilst improvements have been made, in some sectors there is not enough momentum, and work still needs to be done.
- Only 5% of leadership positions in the technology sector are held by women
- Only one in four C-suite leaders is a woman
- Analysis of data from approximately 2500 firms classified in energy-related sectors, women make up just under 14% of senior managers.
Are any industries outperforming others regarding female representation?
There are some silver linings, and the attention raising by consistently knocking on the gender pay gap door is starting to shift our workplace cultural brackets to the good.
Contemporary reports – such as The Times Top 50 Employers for Gender Equality – shine a light on companies that are breaking the glass ceiling for their communities and their workers.
Enterprises such as MI5, Enterprise Rentals, Burges Salmon LLP, PepsiCo UK & Ireland, Lloyds Banking Group and Fujitsu are leading the line for better workplace representation.
The case for equality in finance sector
In an industry that we recruit in to – financial services, there are multiple reports on the state of gender parity that we urge everyone to read, such as the PwC Gender Pay Gap and Diversity report, The Gender Pay Gap in the UK Banking Industry 2022 report by TIC Finance, and ongoing reporting by Bloomberg.
In short – it’s better for business if there are equal opportunities in the workplace.
Research has shown that firms with more women in senior positions are more profitable, more socially responsible, and provide safer higher-quality customer experiences.
The bottom line.
It’s widely known that a more equal, representative workforce results in better business outcomes, better staff retention, better performance, and better recruitment pipeline management. It’s clear that visibility matters. The time has come for everyone to do what they can to erode legacy ways of thinking about gender-based impacts on work and help everyone equally.
More businesses are trying to address gender imbalance, and a government backed initiative Tech Talent Charter invites companies to sign up and commits participants to adopt recruitment and retention practices to create a more diverse tech workforce, setting clear goals and being transparent about results. The charter now has 700 plus signatories, with big names including Capgemini, Vodafone and Lloyds Banking Group, as well as many medium-sized tech firms and start ups.
It’s clear from the stats that we still have some way to go, however things are changing and companies are far more aware of the issues within the tech industry.
At Brookwood all our job adverts are fully optimised to avoid gender bias and make them fully inclusive, ensuring our clients reach the best and most diverse talent pool.
If you would like to see how we tailor your latest job advert please just drop us an email to info@brookwoodrec.com and we’ll send you a fully optimised advert to compare against your current one.
References;
https://www.quanta-cs.com/blogs/2022-4/5-reasons-why-2022-is-the-year-for-women-in-tech
https://www2.deloitte.com/uk/en/insights/industry/technology/women-tech-leadership.html
https://www.pwc.co.uk/who-we-are/women-in-technology/time-to-close-the-gender-gap.html
https://www.mckinsey.com/featured-insights/diversity-and-inclusion/women-in-the-workplace
https://www.mckinsey.com/featured-insights/diversity-and-inclusion/women-in-the-workplace
https://www.bitc.org.uk/the-times-top-50-employers-for-gender-equality/
https://sifted.eu/articles/startups-gender-pay-gap/
https://www.ticfinance.co.uk/the-gender-pay-gap-in-the-uk-banking-industry-in-2022/
https://www.bloomberg.com/graphics/2021-uk-gender-pay-gap/
https://www.ie.edu/uncover-ie/women-finance-chipping-away-glass-ceiling/
https://hbr.org/2021/04/research-adding-women-to-the-c-suite-changes-how-companies-think#:~:text=Research%20has%20shown%20that%20firms,top%20management%20teams%20(TMTs).
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