Why Gender Diversity Will Make or Break Silicon Valley

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By EmployDiversity

 

There is a stark difference between the number of men and women employed at tech companies. This is no surprise given that the number of male students enrolled in computer science programs is more than double the female enrollment. The statistics of gender diversity in tech are more than just an academic study. The implications of this gender gap have major implications for tech companies’ bottom lines and beyond.

 

Financial Success

Many studies have shown the positive relationship between diversity and ROI.  One study by Morgan Stanley clearly shows why all company stakeholders should be concerned with diversity: workplaces that are more diverse deliver higher returns and less volatility.  Another study showed that organizations in the top quartile for gender diversity are much more likely to outperform their less diverse competitors. This is just a small part of a growing body of evidence to show that companies who care about diversity reap financial rewards.

 

Workforce Requirements

The tech industry is a major economic driver for the U.S. and employs millions of people. To keep up with the expansion of the tech industry, more people need to be educated in tech. Tech companies and tech programs need to engage women to build their talent pool. Without an increase in the number of women in tech, many jobs will go unfulfilled and companies will not be able to meet their workforce requirements.

 

Economic Equality

Employing more women in technology leadership positions will help close the economic gender gap. Highly paid technical positions are typically held by men while women occupy lower paying, less technical roles. Tech companies and society should be interested in providing women with equal opportunities in the tech sector to provide reduce financial inequities.

 

The Human Factor

Technology and the decisions made by tech companies impact nearly every element in our daily lives. Technology’s influence over people is so great that tech companies have a responsibility to represent the diversity that is the human race. Diverse ideas and contributions are needed to strive for equal representation. As biology and technology become increasingly intertwined, there are significant implications for the human race. Having the future of the human race determined largely by men to the exclusion of women paints the picture of an unequal and unrepresentative future.

 

Gender diversity in tech is an important issue that all tech companies should address. The goal should not only be to achieve more balance in a male-dominated industry, but also to encourage the development of women in tech. To do this companies need to look at their recruitment and hiring practices. There may be underlying biases, policies, or processes that are limiting their ability to recruit female candidates. Tech companies that hire more women will not only reap financial rewards, but will contribute to the overall workforce, the economy, and the future of technology development.