The Tech industry has always been perceived as a men's club due to the low representation of women in the Tech industry as compared to other industries. It shows the gender issue in Tech still lingers. We need more women in tech to balance this inequality.
Research has revealed that premium innovation and company productivity are achieved more in places where gender equality is typical. The research aids the notion that the Tech industry must be balanced on the issue of gender so that we can unlock hidden potential ideas for premium creativity.
Here are some reasons why we need more women in the tech industry.
Women have a high Purchasing Power.
Wharton Magazine reported that women control $20 trillion in annual consumer spending in the United States. Also, women outnumber men on all major social networking sites (excluding LinkedIn). It's safe to assume that women spend a considerable portion of that money on technology. However, men are primarily responsible for developing and designing technological items.
According to a Catalyst survey, women in the United States control a more significant percentage of expenditure. As technology continues to infiltrate the typical American home, this consumer base and how they spend their money could significantly impact the continuing or future profitability of some Tech-driven businesses.
It will help in closing the wage gap faster.
The wage structure in the US is unfavorable to women. Women in the United States earn 77 cents for every dollar earned by men, and the World Economic Forum estimates that the gap will take 118 years to repair. This gap exists because of the low representation of women in Tech. If we have more women in Tech, this gap will close faster; why? Tech jobs in the US pay more than the average wage in the private sector, and paying women the same rate as men are estimated to add half a trillion dollars to the US economy.
The Tech Industry needs Women's Insights on Product Design.
It is safe to have more women on the design and development teams in the Tech industry, to allow insights from a woman's perspective. This concept is seen in the design of automobile airbags. Airbags caused unnecessary deaths among women and children when they were initially introduced. The airbags were designed entirely by a male-dominated engineering team. If there had been at least one woman on the team, crash dummies of average female stature might have been considered.
Women's participation in both design and development results in a better and more comprehensive User Experience for most items on the market, which in turn leads to increased sales.