Forty percent of STEM + women leave their careers within 5 to 7 years. We don’t have to imagine what makes them leave, we know the root cause of the leaky funnel. Women leave or stagnate early in their careers because they feel undervalued, marginalized, and under-supported by managers.
Time to Stop the Leaky Funnel
Research shows that companies with more women in senior positions are not only more profitable and more socially responsible, but also more open to change, embrace transformation while seeking to reduce the risks associated with it, and more focused on R&D.
While technology companies attempt to make inroads into addressing the lack of women in leadership positions at the top, if talent isn’t retained during early years of employment, the pipeline of diverse leaders who will boost the bottom and top line will never bear fruit. Executive leaders who can attract, retain, and grow diverse talent from college graduates to the boardroom will not only make a bigger impact on their organizations and customers, they will also create momentum for their own careers. Ignoring this leaky funnel will be at the peril of all.
Stock Prices are Down, Investment in Diverse Talent Can’t Follow
As the economy has changed in the last six months, some technology leaders may feel pressure to deprioritize retaining and accelerating women’s careers. Whether a CTO, a VP of engineering, or a VP of R&D, many are facing hiring freezes and cost reductions, while still being asked to do more with less. Some may believe that there are more pressing issues, but now is not the time to push DEI efforts to the back burner. Retaining the best talent, who are ideal targets for other companies looking for their skills, is even more critical to deliver on your goals with less.
The demand for STEM + talent continues to be high while the supply is low. Organizations are turning to new and creative ways to recruit, retain and grow talent. Necessary investments in DEI that address the root cause of attrition with measurable ROI cannot be discretionary if technology leaders want a competitive edge. Investing in the right areas will pay huge dividends in the future, akin to organizations that invested during the 2008 crash and came out ahead.
Gotara’s Career Growth Platform Can Help
If you’re a technology leader who needs to quickly scale and measure your ability to attract, retain and grow your coveted women in STEM + talent, especially those with 5-7 years of experience, it’s important to explore how you can stop the leaky funnel.
Analyzing thousands of questions, skills, challenges, and customer data on our AI/ML career growth platform, Gotara provides insights into what STEM + women really want from their employers to stay and grow in their careers.
Our unique approach uses career sprints to reimagine upskilling, mentoring, and coaching into nanolearning in a safe, timely, and supportive environment. Our customer base, which includes companies like Cisco, Trellix, Experian and more have seen 20-80% skills improvements for 96% of the participants with 100% of participants and their managers recommending the program, and 100% of the participants apply nanolearning multiple times or at least once in just 8 weeks.
There has been no better time for women to take leadership roles in STEM + fields than now. We’re here to help.
