Financial Services

Innovation thrives on diverse perspectives. Yet, women still hold only 27% of STEM (Science, Technology, Engineering and Mathematics) jobs , despite them making up nearly half of the workforce. That’s a massive gap, and if your business isn't working to close it, you're missing out on untapped potential, fresh ideas and a stronger competitive edge. But don’t worry – we’re here to help! We’ve been catching up with inspiring women in the STEM and diversity and inclusion space, asking them that one question the STEM industry has grappled with since its foundation – what can businesses be doing to attract more females into the sector? So here it is, a guide for women in STEM – by women in women in STEM. Sure, we’ve come a long way (back in 1970, only 8% of STEM roles were held by women), but progress has slowed, and serious challenges remain. Women in STEM earn only 74% of what men in similar roles do, and many face roadblocks like pay gaps, fewer leadership opportunities and unconscious bias. As progress in closing the gender gap has slowed, businesses must take decisive action to attract and retain more women in STEM roles to foster a more inclusive and innovative environment. It’s time for businesses to step up. So, without further ado, here’s what women in STEM say are vital for attracting more females to the industry: 1. “Implement female mentors” Attracting female talent is only half the battle - keeping them engaged and helping them grow is just as important. Racing TV Sports Presenter and Women in Tech advocate, Sophie Brown, says, “I would encourage businesses to implement mentors, but also encourage women to find external mentors too. While an internal mentor can give you confidence and leadership skills, there is serious value in having an external mentor, giving you more freedom to explore advice with zero bias ” . “More female mentors in the STEM space means creating a warmer and more welcoming environment for women entering the industry. I had to go out and find mentors for myself when I first started out, but now there are incredible mentorship programmes available to businesses”. Sophie is also known for her appearance on the Channel 4 show, Married at First Sight , where she stood up to body shaming contestants and spoke out about the misogynistic side of fame. “As females in the industry, we need to speak up more about our experiences and anecdotes,” Sophie says. “More visibility of inspiring women in STEM will encourage others to take the leap and explore.” It’s clear that implementing mentorship programs for women is essential for businesses to give females a voice, support their career growth, and foster a more inclusive and innovative workforce. Businesses should also work harder to highlight the success of female colleagues to inspire others into the industry.  2. “Rethink your culture” Justine Craston, former Diversity, Equity and Inclusion Practitioner at Dojo , says her number one piece of advice to businesses is to, “be VERY intentional about how you are driving ‘Inclusion’ in your Diversity, Equity and Inclusion practices ” . Building a more inclusive workplace in the Science, Technology, Engineering and Mathematics sector doesn’t happen by accident. It takes active work. Justine maintains this starts by curating a culture of psychological safety. “Be curious”, Justine says. “It’s much better to ask about an employee’s experience than to avoid the subject… It never hurts to give someone the opportunity to be listened to”. Businesses that actively support diverse voices will attract, retain and inspire female talent. Justine also suggests working with Employee Resource Groups (ERGs) to “drive belonging and inclusion”, as well as being a great platform to connect and share experiences. 3. “Redesign ‘flexibility’ and parental benefits” Biased hiring processes often unintentionally deter women. Flexible work options like remote roles or flexible hours can make a big difference for women balancing career and family. Joan Iwuoha, Product Manager at HNG Tech , says, “Mothers in STEM are constantly juggling work alongside family. To accommodate them, businesses should have options like flexible work hours and remote work ”. Companies including Next , Morgan Stanley and Toyota even have on-site nurseries charging competitive rates, some via a salary sacrifice scheme. This work benefit is currently extremely rare, despite 71% of working mothers having children under 4. Joan says that on-site childcare “takes away the stress from mothers in STEM and will encourage more females who plan to have a family into STEM roles ” . 4. “Build a clear pathway for growth and leadership” Women are more likely to pursue STEM careers if they can see themselves succeeding. Promoting and celebrating female leaders - both inside and outside your company - creates visible proof that the future of STEM is diverse. Former Client Operations Manager in the SaaS world, Luciana Alemanno-Frankson, says, “Many women look for opportunities where they see a strong possibility of progression, mentorship and leadership development. It’s not just about hiring more women, but ensuring they have the tools and support to thrive and grow within the organisatio n” . Authentic role models are bound to inspire current employees and the next generation of female innovators. Luciana says on the topic, “Providing access to female role models in senior positions and ensuring diverse voices are actively included in decision making can be a strong draw for women considering a career in STEM ” . By creating an environment where growth and leadership are accessible, companies can create a lasting impact, empowering women to envision and achieve long-term success in STEM fields 5. “Close the pay gap” Women in STEM make around $66,200 annually compared to men’s $90,000 in the US, and in the UK, on average, females in STEM earn around 19% (or £12,000) less than men. Presenter, Sophie Brown, says on the subject, "For businesses, transparency from senior leadership is important so that everyone knows where they stand, and more conversations around salary negotiations and instilling confidence need to be had. To female candidates – know your worth and schedule in a pay review as soon as you accept the role to make sure it’s solidified in. Your salary is your livelihood – it should never be underestimated!” Empowering women to advocate for their worth begins with a culture of transparency and support. When businesses actively promote equal pay opportunities and encourage open conversations about compensation, they create an environment where every woman feels valued and confident in asking for what she deserves. 6. “Inspire future generations” “It’s our responsibility to engage Gen Z and Gen Alpha by showcasing pathways to fulfilling STEM careers ” , says female Director at an IT talent solutions firm. “We need to create workplaces that align with their values, making STEM roles more attractive and relevant to their priorities.” If businesses want more women in STEM, they should start at the source. Partnering with schools and universities to support scholarships and internships will help to target young women. Sponsoring coding boot camps, summer programmes or apprenticeships can also build excitement about STEM careers early on. She also points out that, “Commitment to change needs to start from the top. Businesses need to ensure representation at all levels of leadership in order to inspire young women entering the STEM workforce. Lily Spokes and Clara Schmitz, from IT Services and Consulting business Pace Integration , agreed, stating that their "number one piece of advice to businesses is to hire more women into leadership positions. Having great role models will inspire future generations into STEM.” So, there you have it. The talent gap in STEM is real - and closing it is more crucial than ever for businesses that want to be industry leaders. Creating an inclusive workplace, addressing pay gaps, and investing in the development of female talent aren’t just the right things to do - they’re smart business decisions. Now’s the time to lead the change. What will your business do to enable women to thrive in STEM? Interested in learning more about how to attract more women in STEM? Talk to our Client Services Consultant in Tech, Amy Glynn today! -------------------- We're committed to enabling our clients and candidates to thrive in a constantly changing world. By helping businesses grow and supporting people in leading more fulfilling lives both at work and beyond, we aim to make a lasting impact. Our ultimate goal is to become the world’s most valued and trusted workforce solutions company, trusted by our people, our clients and our communities. References: Home of Technology News Pew Research Center https://www.census.gov/library/stories/2021/01/women-making-gains-in-stem-occupations-but-still-underrepresented.html https://www.stemwomen.com/job-market-for-women-in-stem https://yulife.com/blog/top-10-companies-for-childcare-and-working-parents/ https://www.aauw.org/resources/article/fast-facts-working-moms/ https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/familiesandthelabourmarketengland/2021#:~:text=4.,employment%20than%20full%2Dtime%20employment .