The responsibility of tech companies on International Women's Day: A time to reflect and act

Within the tech industry, women have been underrepresented for far too long. Even though the sector has made great strides in addressing the gender gap, the numbers and experiences of women worldwide highlight that there’s still a long road ahead toward true gender equality. 

The state of gender equality in tech 

The statistics present a sobering reminder of the gender disparity that remains within the tech sector. According to a study by WomenTech Network, women make up only 28% of the tech workforce, which is still an improvement on the early 2000s when that figure was just 9%.   

The same study found that in Europe, about 1.7 million women work in tech roles, comprising only 19.1% of the ICT labor force. In the U.S., the numbers are slightly better at 3.7 million, representing 23% of the labor force. However, these numbers don’t reflect true parity. 

Gender diversity isn’t just a ‘nice-to-have’ 

For tech companies, achieving diversity is more than just an HR metric. It creates a work environment that encourages diverse perspectives, critical for innovation. 

And the stats back this up. Research from Forbes shows that gender-inclusive companies are more profitable, innovative, and achieve better financial returns.

Here are a few statistics that underpin the significance of gender balance in tech: 

• 60.2% of gender-diverse companies report increased profits and productivity 

• 56.8% report an increased ability to attract and retain talent 

• 54.1% report a better ability to gauge consumer interest and demand 

• 54.4% report greater creativity, innovation, and openness 

Despite these findings, gender diversity in tech remains challenging. It’s not just about hiring more women; it's about creating an environment where women can excel, lead, and contribute their best to the tech industry. 

Tech is shaping the future, so leaders have a huge moral responsibility 

But gender equality doesn’t just affect your bottom line. Tech companies need to consider how their products can continue, or break, inequality cycles globally. Especially when faced with a future dominated by Artificial Intelligence (AI) and Machine Learning (ML). 

Exclaimer’s CTO, Vicky Wills, has the view that we all lose when technology creates further inequality in the world. This is usually made worse when non-diverse groups are leading innovation. How we design and build technical products has an impact on equality and societal divides. 

At Exclaimer, we see gender diversity as crucial for ethical product creation due to several reasons: 

• User experience: When our products are designed by gender-diverse teams, they’re more likely to address the varied needs of our audiences. By considering a wide range of perspectives, we can create products that are more accessible and have a wider range of features. 

• Avoiding bias and stereotypes: Gender diversity reduces the risk of unconscious bias in product design and marketing. By bringing together different backgrounds, our teams can challenge assumptions and create inclusive solutions. 

• Social impact: In the context of ML and AI, the impact of non-diverse teams designing products can have a harmful social impact. Without gender diversity, biases inherent in the data used to train algorithms can be perpetuated. This leads to biased outcomes and discriminatory practices. Diverse teams are crucial for identifying and mitigating biases, ensuring that ML and AI systems are fair and inclusive. 

The path ahead for Exclaimer 

We recognize the importance of gender balance and are committed to creating an inclusive work environment. We understand that identifying and addressing the systemic barriers that limit the progression of women in tech is a complex issue that requires sustained effort and investment.  

Our approach to addressing the gender divide within our own company is threefold: 

1. Policies and practices 

We’ve built diversity into the very growth of our company, by including increased diversity as key OKRs. This means that our teams are all set up to smash this goal. Just this month, we’ve improved our maternity package and have successfully developed recruitment streams to increase diversity in our teams, including Engineering.  

2. Community engagement and advocacy 

We’re engaged with communities like She Can Code, contributing resources and participating in events that promote gender diversity in tech. We advocate for broader industry change, supporting efforts to close the gender gap within tech companies. 

Check out our CTO Vicky Wills, on why educators play a crucial role in shaping tech leaders of tomorrow, and our CMO Carol Howley on why you don’t need a technology degree to get into tech. 

3. Data-driven decisions 

We use data to drive our diversity and inclusion efforts, identifying areas for improvement and measuring the impact of our initiatives. Here are some examples of key metrics that we use to keep us on track. 

• New hires over the last 12 months: Our hiring approach has resulted in us significantly increasing the proportion of women we hire, bringing us to a 50:50 split across all our new hires over the last 12 months. 

• Our current headcount: We’re continuing to close the gender gap; 37% of our teams are now women, up from 31% at the same time last year. 

• Promotions and mobility: We’re promoting more women than ever before. The number of women managers within Exclaimer has increased as a proportion of the overall number of managers. Female leaders now make up around 38% of our management cohort. 

While we’re incredibly proud of how far we’ve come over the last year, we realize that we still have lots of work to do to achieve true gender equality. We’re also a signatory in the Tech Talent Charter, meaning we’ve made a commitment to increase the diversity and inclusion of our workforce in a measurable way. 

This IWD, we aim to inspire inclusion 

International Women's Day serves as a powerful reminder that the fight for gender equality is far from over. For tech companies worldwide, it's a call to action to reevaluate their practices, policies, and mindset.  

The IWD 2024 theme, ‘Inspire Inclusion’, means to celebrate diversity and empowerment this year and beyond. It underscores the crucial role of inclusion in achieving gender equality, calling for everyone to break down barriers, challenge stereotypes, and create environments where all women are valued and respected.  

Head over to our LinkedIn page, where some of our incredible female colleagues are sharing their experiences and advice in celebration of IWD 2024.