Demand for digital talent growing faster than supply.
The participation of women in technology in Southeast Asia is slightly higher than global averages, and about 65 per cent of respondents agreed that the tech sector does better than other industries in offering programs specifically tailored to recruit, retain, and promote women.
The Boston Consulting Group (BCG) has partnered with SG women in the (SGWIT) and Infocomm Media Development Authority (IMDA) on a new study which surveyed 1,650 women in tech in Southeast Asia.
With demand for digital talent growing faster than supply, the report identified three critical junctures for intervention to boost the number of women in tech. These “moments of truth” are (i) the choice to pursue higher education in tech, (ii) the selection of their first job, and (iii) the decision to remain in tech over the long term. Based on these, the report has also identified areas where companies, policymakers, and academic institutions, and even women themselves, can work on, to further attract, retain and develop more women in tech.
BCG’s global leader for the Technology, Media & Telecommunications practice, Vaishali Rastogi said, technology is radically disrupting businesses and industries, driving an urgent need for more digital talent across the region as demand for such profiles rises faster than supply.
“Women need to be part of the long-term solution,” she said. “Our research shows that gender diversity can make companies more innovative and agile. For example, companies where women account for more than 20 per cent of the management team have approximate 10 per cent higher innovation revenues than companies with male-dominated leadership”.
BCG’s research identified three key moments of truth that play a key role in women pursuing long-term careers in tech.
Their choices:
- Major at college: Influenced by their interest predominantly and their previous exposure (or lack thereof) to tech-related topics.
- First job: Influenced by their educational path as well as the perceived difficulty and narrower career prospects in tech.
- Continuing with a tech career: Influenced by compensation, attractive career opportunities, along with a reasonable work-life balance and role models. At each moment of truth, specific interventions can lead to increased gender diversity. A list of interventions can be found in the full report across proven (baseline) measures and hidden gems (initiatives that are not as widely available but perceived to be most effective).
Stakeholders must have:
- A holistic end-to-end approach spanning all three moments of truth in collaboration with various stakeholders (companies, governments and schools and women themselves) is needed to tackle the challenge.
- Companies: Set up thoughtful diversity programmes, build the pipeline creatively and start at the top.
- Governments and schools: Include tech topics as part of the education curriculum, provide the right supporting guidelines and foster industry collaborations.
- Women: Develop both hard and soft skills, fight the right balance for oneself and support others and bring one’s male colleagues / partners / friends along.
Gender diversity is that rare issue in which the solution benefits everyone. For tech companies in SEA, recruiting, hiring, and promoting more women will unlock value and improve performance. For countries, diverse workforces will lead to more vibrant economies and faster growth.
