2. Recruit promising talent, then teach it tech
Business can do much to support the longer-term talent pipeline in education, but it should also act to bridge the STEM gender divide in the here and now. As disruption accelerates, innovation today is the highest priority for most businesses. It’s diversity of experience, perspective and thought processes in your innovation team that’s often the catalyst for developing disruptive new products and services.
So why wait on the STEM talent output from educational institutions when that diversity can be kick-started within the business itself? Etsy’s founders began investing in young talented women not trained in programming, and sent them on three-month scholarships to the Hacker School. Within a year, Etsy increased the number of women on its engineering team by five-fold.
3. Encourage new ways to work
We need to encourage new ways of working and forging connections that empower women in the global workforce. The rise of the digital platform economy, in particular, represents a major opportunity for women who are looking for more flexibility. Many STEM projects or careers are now location agnostic. If you have a digital connection you can work, and network too. The next project or rung on the career ladder can now be reached through adept use of social media networks, rather than through membership of an old boys club.
And for women who live in countries where social barriers make it harder for women to participate in the traditional economy, the opportunity is revolutionary. The digital revolution is a chance to unlock the economic potential of millions of women around the world. Unfortunately, the OECD recently reported that “most of the participants in the online platform economy are men.”
Given that the world of work is changing and we’re shifting to more entrepreneurial, self-reliant, portfolio careers, we need to create more and better opportunities for women to participate in the new “platform economy.” Our own new recruiting platform, GigNow, will give freelancers a chance to join our team on a project basis that allows them to work flexibly in a way that suits their lives.
It’s also important to help skilled women re-enter the workforce after breaks to raise children or support their family. That’s why we’ve introduced initiatives like EY Reconnect in the UK, which provides a 12-week program to ease skilled women and men back into business after taking anywhere from two to 10 years off.
Speeding up the path to parity
While the expansion of the gender gap is likely to generate negative headlines, the good news is that we know progress is possible. We’ve seen it in STEM over the past decade. For example, in 2016, women made up more than a third (40.1%) of scientists and engineers in the EU-28, an increase of more than 20% since 2007.
And more broadly across the global economy, there are more encouraging signs on gender parity. The 2017 Women Leaders Index shows a rise in women’s leadership among G20 nations, with women now accounting for more than 40% of public-sector leaders in Canada, Australia, South Africa and the UK. In Australia, the proportion of women board members on the ASX 200 has increased from barely 8% in 2009 to more than 25% today. Meanwhile, EY is on its own journey to eliminate the gender gap: for the second consecutive year nearly 30% of our new partner class were women and we are continuing to build our pipeline of female talent.
We should all celebrate this progress – but the WEF report is a stark reminder that this is just the beginning. We still have a long way to go to make gender parity a reality.
A big step towards that goal can be taken by concentrating our efforts getting women into leadership and into STEM disciplines. Given the rate and extent of change being driven by digital innovation, greater diversity of talent in STEM industries and roles is more critical than ever before. To create a shared future in a currently fractured world, take action now.
Summary
Organizations need to collaborate, manage recruitment and encourage new ways of working to help close the gender gap.