We know that as the tech workforce continues to grow, that diversity is fundamental to fill the vital roles needed for companies to continue to thrive. It’s also becoming clear that having a range of talent on your team makes sense in business terms. According to Time magazine, five of the top 20 most influential people in tech in 2017 were women. Powerful female engineers are creating tech used by millions (or billions) every day.
As women seek out companies where they can achieve their professional goals, building an effective workforce means that all employees feel valued and supported wherever they are on their career path. Let’s talk about ways you can recruit women in tech and retain their talent for your company.
How to Recruit Women for Tech Jobs
It’s important to know where your company stands on the representation of women in your technical workforce. Ask questions of your leadership team: What does gender diversity look like in your company? Are there X number of women in leadership roles? How can we change this number to be more reflective of our goals?
If you’re choosing to make that a hiring focus right now, make sure you communicate the success measurements you’ll use with your recruiting team. If you work with a recruiting firm specializing in tech, be upfront with your staffing partner about your diversity goals and how your company is planning to achieve them. The Anita Borg Institute measured representation of women in the tech workforce at 22.95% in 2017, which represents an increase of 1.21% over the previous year. This may seem small, but it indicates growth in the right direction and the addition of more than 100,000 female technologist jobs.
Gallup found that companies with more diversity on staff have a 22% lower turnover rate, and if an organization has a more inclusive culture that embraces women, it’s easier to recruit a more diverse staff.
In 2015, Intel put their money where their mouth is by committing $300 million to workforce diversity. Bonus structures and manager pay have been tied to diversity and inclusion goals since 2016 for the chipmaker. This means that managers who wish to receive their full bonuses must meet certain targets with their hiring and retention rate for underrepresented groups. While it may be unrealistic for your firm to offer $4,000 bonuses like Intel for employees who refer women, minorities or veterans for positions at your company, it is possible to develop a referral program that focuses on increasing representation among your staffers.
How to Retain Women in Your Tech Workforce
Building an inclusive workplace culture requires understanding your goals, focusing on them, and an intentional, ongoing effort to attract and retain skilled tech workers of all types. Consider putting in place a formal, universal diversity education and training program to develop solutions that meet the needs of diverse audiences. How can you build gender inclusivity across your entire company?
Flexible working arrangements make jobs in tech a viable choice for more people. Because women are often the caregivers for children and elders in their family as well as other obligations, a range of options for work times and locations can improve both advancement and retention.
As mentioned, many studies have demonstrated that companies that place a priority on hiring women will see better organizational retention and higher financial performance. Is there a link?
Does gender diversity lead to higher profits?
Companies that commit themselves to diversity in staffing and leadership are more successful in a variety of ways:
Gallup found that companies with more diversity on staff have a 22% lower turnover rate, and if an organization has a more inclusive culture that embraces women, it’s easier to recruit a more diverse staff.
A 2012 study on women’s participation in IT patents found that patents with mixed gender teams were cited 30% to 40% more than similar patents with all-male teams.
In a study released by Catalyst, it was revealed that companies with the highest representation of women on their top management teams experienced better financial performance than companies with the lowest women’s representation.
According to Catalyst, “companies that understand the competitive advantage of gender diversity are smart enough to leverage that diversity.” They may also be better able to bring in top talent, improve employee satisfaction that in turn can lead to customer satisfaction, and all of this can lead to increased earnings.
“Correlation is not necessarily cause, but the correlation between organizational excellence and women’s participation in management bodies is nonetheless striking.”
from McKinsey & Company in Women Matter: Gender Diversity, a Corporate Performance Driver, 2007
Gallup found that companies with more diversity on staff have a 22% lower turnover rate, and if an organization has a more inclusive culture that embraces women, it’s easier to recruit a more diverse staff.
