Tag Archive for: STEM

Op-Ed: What I’ve Learned as a Woman in Technology

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Women-on-computerBy Avis Yates Rivers

As a woman and leader in technology over the past 30+ years, I have seen a lot. I have witnessed and experienced the tremendous progress we have made. Yet we still have a long way to go to reach an equitable playing field in attracting and retaining more women in technology. Not to mention, leading!

It is undeniable that women leadership has had a successful impact in the world of business. Currently in the US there are just over 9.4 million women-owned businesses generating revenues of $1.5 trillion — up 79% in nearly a 20 year period. According to Dow Jones Venture Source, analysis of more than 20,000 venture-backed companies showed that successful startups have twice as many women in senior positions as unsuccessful companies. Tech companies led by women delivered higher revenues using 30-50% less capital. They were also more likely to survive the transition from startup to established business.

Yet, the overall percentage of women in technology is woefully low. In 2015, women made up 25 percent of computing-related occupations. The retention rate is even more troubling. In the high tech industry, the quit rate is more than twice as high for women (56 percent) than it is for men.

The sad and hard truth is that Women in STEM also were more likely to leave in the first few years of their career than women in non-STEM professions.

I was fortunate that early in my career I got involved with technology. I worked for Exxon Corporation in NYC in various staff positions and then made the jump to sales — selling Exxon’s line of office technology on Wall Street. I immersed myself in the technology, early as it was, and found that I had a natural affinity to it.

More than any other role, Sales prepared me for 31 years as an entrepreneur in so many ways —-it taught me to be courageos and fierce every single day!

These qualities serve me well in my current role as the Chief Executive Officer of TCGi. It is my responsibility to craft the vision and strategy for the firm. I also am chiefly responsible for cultivating and managing excellent client and partner relationships.

Life as a CEO keeps me on the go 24/7, but it is the giving back that completes the circle. Sharing the experience of my journey, lessons learned, successes and failures with women who are entering the field will help them tremendously.

Being a successful woman leader in technology inspires me to want to see more women of color participate and succeed in this field as well. My work with NCWIT (National Center for Women & IT) supports this desire. I am an active Board Member as well as the National Spokesperson for the ‘Sit With Me’ Campaign.

Early education is key to attracting more girls, women and people of color to Tech. Another is mentorship and advocacy. Senior Leaders must actively advocate for and sponsor diverse candidates for leadership positions within corporations. With too few women in tech positions and tech leadership roles, it is impossible for girls and women to aspire to positions or cultures where they see no one who looks like her.

Women have made great strides in the workplace today, and we shouldn’t downplay this progress (0 CEOs of Fortune 500 in 1996 and 20 years later there are 21). But we need to accelerate progress—and I believe progress in increasing women in leadership goes hand-in-hand with increasing women in technology.

Conclusion

Technology is still a very male-dominated industry. What that means is the technology being invented by largely homogeneous groups (White and Asian males) isn’t as deep and rich as it could be. Once women and people from all cultures, ethnicities and backgrounds begin to fully participate in the invention of technology, we will solve societal problems in a mighty way and ultimately change the world!

Avis Yates Rivers is the President and CEO of Technology Concepts Group International, LLC, (TCGi), an asset, expense and procurement management firm. Ms. Yates Rivers has worked tirelessly to increase the development and utilization of minority and women-owned businesses in both the public and private sectors. She has held leadership positions in various supplier diversity advocacy organizations. Ms. Yates Rivers is also a staunch advocate for increasing girls’ and women’s participation in Information Technology. She is on the Board of Directors of the National Center for Women and Information Technology and serves as the spokeswoman for the organization’s Sit With Me campaign.

You can learn more about the lack of women in technology and Avis Yates Rivers by purchasing her book ‘Necessary Inclusion: Embracing the Changing Faces of Technology’ which will be in bookstores and online in early December.

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Women and STEM: Why We Need to Reclaim Our Belonging

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women in technologyBy Aimee Hansen

We are increasingly conveying a new message to our daughters and nieces when it comes to girls’ and women’s place in STEM (science, technology, engineering, mathematics): You belong.

“Ada Twist, Scientist” by Andrea Beaty held the top spot on the NYT best sellers among children’s picture books for four weeks as of October 16th (still in the top 10), joining Beaty’s “Rosie Revere, Engineer,” on the list for 76 weeks now.

In August, “Ada’s Ideas: The Story of the Ada Lovelace, the World’s First Computer Programmer” by Fiona Robinson was released. More of the books we give to our children to read are saying, STEM “is for girls” – and not only that, but they are exploring themes like passion, perseverance, and the value of failure.

Ada matters, and so does recognizing all the forgotten or overshadowed women in STEM, because it’s not that women are just entering these fields now, thank you very much. It’s that girls and women are being desperately courted back into them.

A Broken STEM Narrative

In an episode entitled, “When Women Stopped Coding,” NPR noted that women were a pioneering, rising presence in computer science until a stark turning point in 1984: when computers came into homes and the cultural narrative began glorifying them as toys for the boys.

From that year, the rising cultural narrative pushed girls out at home while talented women dropped out of tech in schools. In 1984, women represented 37% of computer science majors and despite the rising demand, today it’s 18%.

This was not the first time capable women were written out of the STEM story, just a recent one. The tired narrative that women don’t belong in STEM replays through the industry stereotypes and cultural dynamics that keep women away, throw an extra hurdle in their path, or drive them out.

Every time a new study (2016) shows that “woman” is still perceived by both men (even more so) and women to be incompatible with “successful scientist” (or programmer, or engineer, or executive, or leader), it’s proof that a limited narrative is still being internalized by our culture.

This “STEM is for men” narrative is dangerous, because it’s also written women right out of a rising proportion of high-reward, high-in-demand jobs. Bad for women, yes. And crippling for the U.S. economy.

Talent Shortage and Competitive Lag

A new report from Accenture entitled “Cracking the Gender Code: Get 3x More Women In Computing” calls the current lack of women a “national crisis with severe implications for America’s place in the global economy and for the future of women.”

Consider that women take home half of computing degrees in Malaysia and nearly half of engineering degrees in Indonesia. In the USA, women receive just 18% of computer science undergraduate degrees and 19% of engineering degrees.

The Accenture report states that job growth within the computer industry is growing at three times the national average, creating unmet demand. In 2015, there were over half a million open computing jobs in the U.S., but only 40,000 computer science graduates.

By 2018, it’s estimated that 2.4 million STEM jobs will be unfilled. The report points out that the shortfall of analysts in the U.S. is greater than the surplus of analysts in India and China combined. Increasingly these jobs are newly emerging jobs that haven’t existed before, requiring new specialized skills.

The glaring reality is that STEM needs women if the U.S. economy hopes to retain any leadership in digital innovation.

Women Sidelined Within Economy

An AAUW report states that engineering and computing represent 80% of the jobs in STEM, offering the highest return on investment and best job prospects.
Studies have shown that STEM jobs pay women better relatively to other jobs.

But women are least represented in engineering (13% of jobs) and computer science (26%), and the Accenture analysis showed that the gender pay gap within U.S. computing roles widened by 48% between 2011 and 2015, as women are missing out on the high-value roles.

Bringing women back into computer science isn’t just about progress in STEM. It’s about “bringing women back to the center of our economy.”

Encouraging Girls and Young Women In Tech

The Accenture report recommends a three-stage strategy to “more than triple the number of women working in computing in the U.S. to 3.9 million by 2025”, or 39% of the workforce. This would generate nearly $300 billion in additional cumulative earnings for women.

“The keys to improvement include: sparking the interest of girls in junior high school, sustaining their commitment in high school where early gains are often lost,” states the report, “and inspiring college undergraduates by reframing computer curriculums.”

Equal exposure is not enough, but actually re-tailoring educational programs towards girls, young women, and women – at all levels. Interventions at the college level would only result in 1.9 million in computing in 2025 (1.2 million now).

The first-ever technology and engineering literacy test in 2014 found that eighth grade girls (45%) were more proficient at engineering and technology related tasks than boys (42%).

A few years later, those same young women are less likely to take the related AP exams (only 20% of computer science exam takers) and less likely in their first college year to intend to major in these fields.

Accenture states that 69% of the potential growth in the computer pipeline is down to attracting girls at junior high age, as 74% of women in computing now were exposed in junior high.

This demands exposing girls to coding in more attractive ways (eg gaming), changing stereotypes, and increasing awareness of all parties (teachers, parents) about how computing can help change the world for the better.

Multiple initiatives here and globally are dedicated to recruiting girls and women into STEM- such as Million Women Mentors, the WISE campaign which seeks to bring one million women into STEM in the UK, and Girls Who Code.

At the high school level is when interest in computer science drops. The report recommends redesigning high school courses, creating grassroots campaigns around the difference STEM can make, and attracting more women teachers.

Supporting Women In Tech

At the college level, we’ve witnessed that strong, focused efforts can result in dramatic changes.

In 2016, Dartmouth graduated more female (54%) than male engineers, a first for a national research university. The program features more collaboration, a supportive network with diverse role models, and a “hands-on, project-based” approach, which exposes students to engineering who may not have chosen it.

In 2016, Harvey Mudd graduated a majority of women in computer science (54%) and physics (52%) for the first time ever, having already graduated a majority in engineering two years ago. Importantly, 64% of the 2016 computer science graduates who had accepted a full-time job had a position in the tech industry, compared to 30% in 2011. Only ten years ago, women were only 10% of computer science majors.

Under President Maria Klawe since 2006, Harvey Mudd has famously made three key changes that removed obstacles for women, such as reworking introductory courses to attract women and integrating research opportunities, and it only took a few years to quadruple CS majors and less than a decade to arrive to the landmark classes of 2014 and 2016.

At Harvey Mudd in 2017, six of the school’s seven department chairs and 38% of its professors will be women.

Biasing Recruitment towards Women

It’s not surprising that a slew of diversity apps designed to help to mitigate bias in hiring and promotion have been rising out of Silicon Valley, in many cases led by women who have faced bias in action in the tech industry.

These ideas help reduce the biases that keep women and minorities out of tech roles. But after such acute exclusion with such growing demand, it will take more than eliminating bias against women to address the massive talent gaps. It will take educational strategies that lean in towards girls and women.

Representation, visibility, and mentorship of women in these fields remains paramount. It starts to rewrite the broken cultural narrative and reminds both girls and women that we do belong – from our children’s books to our leadership.

Being visible is arguably the most influential thing an engineer, scientist, programmer, mathematician, and executive in any of these fields can do to encourage change.

Because it’s not just that girls and women belong. It’s that they are needed.

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Are Investors the key to increasing the number of women leaders?

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Elegant leaderThere are many ways to create change and arguably one of the most effective ways to get people on board with any concept, including gender equality, is to show them that doing the right thing can also be the most profitable path also.

For nine years theglasshammer has reported on the stagnant numbers of women on boards and in senior management. Yet there is an ever growing body of research the latest of which comes from McKinsey in January 2015 that shows that companies which commit to diverse leadership are more likely to have financial returns as much as 35 percent above their national industry median.

So, why is there still a disconnect? What can give companies the carrot or the stick that they need to do better beyond fluffy aspirational goals and lip service when it comes to promoting women?

One group that can help create change are investors. State Street’s newly launched ETF index fund – the SSGA SPDR SHE Gender Diversity ETF as well as the Sallie Krawcheck endorsed fund – the PAX Ellevate Fund allows for options when as an investor you want to see companies hire and promote women into senior leadership.

So what has changed?

Simply put, there are three things that are changing the game:

Firstly, data for who is on boards and in senior management team has only been relatively newly available. BoardEX and MSCI have dedicated teams to produce independent data on the gender breakdown of large companies’ executive teams.

Secondly, the continued bifurcation of the market is providing more choice for investors. ETFs and other passively managed and more commoditized products are in direct conjunction with more actively managed fund approaches and is certainly driving down costs and increasing transparency.

Thirdly, investors want to live their values and are more aware of what their values are

We aren’t just talking about a handful of aware women putting a few dollars into their pension plan. The California State Teachers’ Retirement System (CalSTRS) announced its initial investment of $250 million in the SSGA Gender Diversity Index, a large- cap U.S. stock index primarily tilted toward companies with a greater than usual number of women in senior leadership positions.

CalSTRS Chief Investment Officer Christopher J. Ailman. “We are entering a new era of impact investing — one based on looking for values or purpose that generate investment returns based on diversity of thoughts and perspectives, while also creating change with our capital. I believe it’s time to change the face of Wall Street and corporate America.”

What is the SHE index?

The SHE index itself is an index which is based on a methodology involving measuring the number of women at senior management levels in the largest firms.
The resulting product is an ETF that tracks a newly created, proprietary gender diversity index comprised of the largest companies in the US with senior women leaders relative to other firms within their sector. Rather than wait for companies to take action themselves or rely on legislation to be enacted, SHE provides a way for people to fight the gender gap directly by investing in companies that put a premium on women in leadership positions.

Jennifer Bender, Managing Director and creator of the SHE index explained to theglasshammer.com that prior to launching this ETF product, Statestreet has been working with rule based large data sets on the institutional side of the business. She comments that it seemed like a natural transition to provide retail investors with the same ability. She comments,

“If investors want to vote with their feet plus get the long term equity return they are looking for then this product allows them to do this.”

When asked about how the companies are picked for the index, Jenn Bender explains that top firms are picked to meet specific criteria using independent research. She explains,

“We want the index to be sector constrained so that we have similar sector weights as the US large cap universe which ensures we have a diverse group of industries represented. The companies in our index have the highest ratios of female senior managers in their sector. “

Walking the talk

Allison Quirk, executive vice president and chief human resources and citizenship officerat State Street believes that it is another way to tackle gender equality work.

When asked about the new SHE index, she sees the importance of reflecting the work State Street continues to do the inside to create that pipeline of female leaders with an external commercial product that aligns with the State Street culture. She comments,

“It is good for business to ensure women have what they need to navigate – it is our responsibility to engage the entire talent pool to ensure a sustainable pipeline of female leaders. We have eighteen female EVPs now who each sponsor other women just below them, this effort along with our male colleagues taking the lead also on mentoring and sponsoring women, means that we really believe we will see the rewards of paying it forward. “

With 27% of their SVP’s and 23% of their EVP’s being women, it seems that this firm is taking gender parity seriously.

State Street’s SHE fund also has an innovative charitable component to it that focuses on the next generation of women leaders. The company will take a portion of revenues and direct them to the newly created Donor Advised Fund, which will in turn support organizations that inspire and equip girls to be future business leaders – particularly in industries where women have low representation today, such as STEM (Science, Technology, Engineering and Math).

Pipeline at all levels is what more firms need to think about.

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