How Women are Excelling in IT Space  

Women make the world go round. From building successful companies to enabling innovation, women in IT are unstoppable. As the Indian IT industry is making strides globally, its women have proved their worth in the sector with their talent and technological expertise. From recent developments in artificial intelligence to reforming technology in the banking and auto space, well-known Indian-origin female leaders are leaving no stone unturned to leave their mark.  

According to a March 2023 study by Chartered Financial Analyst (CFA) Institute, the Indian IT sector showed the highest female participation rate of 30 percent, followed by the female workforce in financial services companies at 22.4 percent during the financial year 2022. For the study, 134 companies voluntarily disclosed their Business Responsibility and Sustainability Report analysis.   

It is pertinent to mention that the IT sector has the highest representation of women in the workforce. While men still dominate the C-Suite in leading technological companies, the world is seeing more women taking up leadership roles. A recent study suggests that there has been an increase of 2 to 3 percent in the number of women in C-suite and board-level positions from 2021 to 2022. With a 5.4 million-strong workforce, the IT industry is estimated to create 2,90,000 new jobs and add USD 19 billion in revenue in FY23. This figure also includes 2 million women employees and a net addition of over 1,40,000 women employees in FY23, per a recent NASSCOM report titled ‘Strategic Review 2023’. 

The female workforce is integral to various industries in India. The IT sector, which is the largest employer of the country’s white-collar workforce, benefits the most from its women workforce. Here are four ways in which the women have transformed the IT space: 

Diversity in the organization leads to profit 

McKinsey & Company, in a 2020 study, revealed that companies in the top quartile for gender diversity on their executive teams were 25 percent more likely to experience above-average profitability than companies in the bottom quartile.  

More gender diversity promotes innovation 

Organizations that have more gender diversity in technical roles lead to higher levels of innovation. In addition to this, enterprises with a more balanced gender ratio in technical roles have improved operational and financial performance, better problem-solving, and enhanced company reputation. 

 Women are endowed with skills of communication, collaboration, and empathy 

Women are great multi-taskers. They bring unique perspectives, experiences, and skills that can help technology companies understand and meet the requirements of their diverse customers. Moreover, women have been shown to excel in communication, collaboration, and empathy skills, which are essential to building successful teams and effective leadership in the IT industry.  

Promoting gender equality leads to empowerment of women  

Organizations addressing the gender gap in tech can help promote gender equality and empower women in other fields. Women working in the technology sector can serve as role models and mentors for other women interested in pursuing careers in traditionally male-dominated fields. 

To conclude, we can say that the relationship between the women workforce and the success of the IT industry goes hand-in-hand. As women continue to excel in this space, IT companies hold their heads high with innovation, better decision-making, profit, and tremendous success. 

The article has been written by Runki Goswami, Global Marketing Head, Newgen Software