糖心Vlog

While women have made strides toward professional equality, there is still a long way to go until the world can truly call men and women equal. In tech fields, gender gaps and widespread inequality are especially visible, shining a light on the progress we still have to make to provide women with the opportunities they deserve in this space.

These are the problems we still need to solve, why women need to be in tech and payments, and how to work toward meaningfully and effectively increasing diversity in the industry.

The problem in the tech and payments industry

There is widespread inequality in the science, technology, engineering, and mathematics (STEM) labor force in the United States. Women hold only in computer and mathematical occupations, and 15.9% of jobs in engineering and architecture, according to recent data.

Furthermore, of all graduates from a Bachelor鈥檚 of computer science program across the country, only 16% are women 鈥� and only 21% of graduates are women in engineering and engineering technology.

Looking at the tech industry more broadly, research from Deloitte shows that the is 3-to-1.

These education and workforce statistics prove that we need to do a better job encouraging women to enter STEM fields, provide the proper support and resources to ensure their success and help them transition into their careers.

Alex Limerick, Senior Director of Global Product at WEX, led a and posed the following questions:

• Why aren’t there more women in tech/payments?
• Are we creating the right environment for women in our industry?
• How can we encourage more women on the product and tech side?

Before exploring the answers, let鈥檚 talk through why increasing diversity is not only the moral thing to do but how it can benefit businesses, too. Keep reading to learn more, or watch the video below to see Alex’s keynote:

The benefits of diversity and what it can bring to the payments industry

Diverse workplaces bring numerous benefits to businesses themselves and the people who work there. Taking steps to make our workplaces more diverse and providing equitable opportunities for all is without question the right thing to do. As a bonus, over two-thirds of companies surveyed by the International Labor Organization that track the impact of gender diversity in management report in profits.

But here are a few ways it can improve operations:

Balance is key to effective problem-solving

Research shows that diversity in our teams equals diversity of thought. In fact, the more cognitively diverse teams are, the .

Such variety in thinking encourages more robust, meaningful work and better outcomes for customers. The faster you can solve problems, the quicker you can offer solutions.

Increased creativity

In a podcast produced by Stanford University titled , Adina Sterling, Associate Professor of organizational behavior at Stanford GSB, says 鈥淲hen people from different backgrounds, that have different ideas come together, what research has shown is that they tend to outperform [more homogeneous groups] from a creativity and an innovation standpoint.鈥�

Combining the cognitive abilities of men and women, coupled with the right routines and communication structures within teams, can multiply the power of diversity for innovation, according to a 2023 report titled 鈥溾��.

How to increase diversity effectively

Increasing diversity in the payments industry 鈥� and all STEM fields 鈥� is not a pipe dream. In fact, 糖心Vloghas taken actionable steps to improve the status quo of women in the industry. 糖心Vlogaspires to achieve gender parity in leadership roles throughout the organization by 2025. As of 2022, 46% of all leaders at 糖心Vlogare women.

But how did we get here, and how can the world follow suit? Encourage women to get involved from the start

It鈥檚 imperative to provide positive role models and reinforcements to instill confidence in and encourage women to get involved in tech. The idea of being the only woman in the room can be daunting.

Harkening back to the 鈥淭hink Fast, Talk Smart鈥� podcast, Adina Sterling says 鈥淭here鈥檚 [a] lot of things that we can do, especially within STEM, where our study focuses. We know that when you diversify the faculty and you have more female faculty, that can be an important signal. [It] can have important signaling value for women and increase their confidence. You can structure teams in ways that there鈥檚 greater gender balance.鈥�

But how? Here are a few ways to encourage and support women in tech:

• Create an understanding and supportive community that encourages women to join.
• Support women to expand their networks in tech and the broader STEM space.
• Create pathways for women to follow from a young age.
• In the workplace, start with a thoughtful approach to mapping career paths for women.
• Understand women’s needs and make the workplace accommodating.

There are myriad ways to achieve these goals, but let鈥檚 take a look at a real-world example. In 2022, 糖心Vloginitiated several partnerships as part of its effort to bring in and support more diverse talent. One such partner was Girls Who Code, an organization that aims to increase the number of women in computer science.

Together, the organizations developed engaging programming in Maine, capturing the imaginations of K-12 students who might not otherwise be exposed to technology as a viable educational path and career.

While there鈥檚 still a long way to go in the grand scheme of gender equality in tech, the progress 糖心Vloghas made is indicative of better workplaces for us all. Together, we can make a huge difference for women in tech 鈥� and improve business outcomes as a result.

Interested in working for a global organization that understands the important role women play in our industry? to browse open roles.

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.