Women in business: How diversity can drive the tech sector

Having established a technology startup in the Middle East, I’ve been both an active participant and a keen observer of how the path for women in tech is evolving in our region.

The potential of technology to make life better is enormous: its potential to revolutionise, improve and streamline construction for everyone – from site owners to workers – is what attracted me to my current role in the first place.

But when I was growing up in India, I was conscious of expectations around me, and as a young woman focused on her career, I experienced encouragement, as well as the weight of more conservative expectations. Today, even though I work in an organisation that has women in several leadership positions, I see that the route for women in technology is still beset with barriers.

A 2023 McKinsey & Co report noted: “Across all industries and roles, women are promoted at a slower rate than men. Indeed, only 86 women are promoted to manager for every 100 men at the same level. The gender gap for women in technical roles is more pronounced, with only 52 women being promoted to manager for every 100 men.”

Societal norms in many cultures still see women gravitate away from sciences and the perceived ‘masculine’ industries such as construction. Overall, the figures are still cause for concern. Casual sexism in the workplace is still a reality for many women.

The United Nations noted in its March 2023 Commission on the Status of Women that women still make up only 35 per cent of students in STEM education. Women hold less than one third of positions in the technology sector and only 22 per cent of jobs in the artificial intelligence (AI) arena.

Societal norms in many cultures still see women gravitate away from sciences and the perceived ‘masculine’ industries such as construction. Overall, the figures are still cause for concern; as when women do ‘break’ into these industries, their contributions are often significant.

Technology needs to foster diversity and equality

Leading a company that is deeply invested in both construction and technology, I’ve seen how diversity fosters creativity, drives innovation, and ultimately leads to better business outcomes. However, despite the undeniable benefits, the representation of women in these fields remains disproportionately low.
International organisations such as Girls in Tech, or Women in Construction Tech play a vital role in seeing more women into construction technology (#contech as it is referred to within the industry), but meaningful change must be encouraged at a governmental level, as well as by active and involved participation in the private sector.

These initiatives aim to bridge the gender digital divide by empowering women and girls to participate fully in the digital economy. While significant progress has been made globally, there’s still much work to be done, especially in regions like the Middle East, where cultural norms and societal expectations have historically limited women’s participation in these sectors.

Thankfully, governmental initiatives in countries including Saudi Arabia and the UAE are paving the way for greater female representation in senior and leadership roles in general, including in construction and technology.

In recent years, both the kingdom and UAE have implemented policies and programmes aimed at encouraging women to pursue careers in STEM fields and providing them with the support and resources needed to succeed.

In Saudi Arabia, Vision 2030, a comprehensive reform plan aimed at diversifying the economy and reducing dependence on oil, has placed a strong emphasis on empowering women and enhancing their participation in the workforce. Similarly, the UAE government has launched various initiatives, such as the Gender Balance Guide and the UAE Gender Balance Council, to promote gender equality and empower women in all sectors, including construction and technology.

However, while these initiatives are a step in the right direction, real change requires collective action from businesses, government, and society. Companies that ignore the importance of diversity do so at their own peril, not only in terms of social responsibility but also from a business perspective.

Diversity helps teams perform better

Study after study has shown that diverse teams are more innovative, perform better, and are better equipped to adapt to an ever-changing business landscape. In the construction industry, for example, diverse teams bring different perspectives and experiences to the table, leading to more creative problem-solving and better decision-making. Similarly, in the technology sector, diverse teams are more adept at understanding and catering to the needs of diverse user bases, leading to more inclusive and user-friendly products and services.

Moreover, embracing diversity isn’t just the right thing to do; it’s also good for the bottom line. Research has consistently shown that companies with diverse workforces are more profitable and financially resilient than their less diverse counterparts. McKinsey’s Diversity Matters report found that companies in the top quartile for gender diversity are 15 per cent more likely to have financial returns above their respective national industry medians.

As leaders in the construction and technology sectors, we have a responsibility to inclusive environments where everyone, regardless of gender, can do well. This means implementing policies to attract diverse talent and fostering a culture of inclusivity from the top down. Let’s break ground and build a future where everyone has an equal opportunity to succeed.

The writer is the co-founder and COO at WakeCap, a construction technology company with offices in Dubai, Saudi Arabia and San Francisco.