Ceri Scott
28th March 2022
The tech world is notoriously male-dominated. In Europe, women occupy less than 7% of technology jobs. This number is frightening, especially since technology is more important than ever today as companies and our society rely on computer-based systems and the online world.
Women in tech are striving hard to establish their presence and motivate others in the industry. We recently hosted a live podcast, which focused on 7 entrepreneurs in Berlin and their founding journeys. Only 15.7% of founders in Germany are female, according to the Female Founders Monitor 2020. Even in the current modern world, women face unique obstacles and decisions stemming from long-term underrepresentation.
There has been an increased focus on gender parity in new hires and on greater equality in executive roles. But companies may be missing another critical moment: diversity in product.
In a nearly 70% male function, the female experience is undoubtedly unique. Women, in general, are shown to have high emotional intelligence balanced by humility, which makes them well equipped to communicate effectively with clients, customers and c-suite executives and be persuasive and effective leaders.
While many female product managers come from technical backgrounds (like engineering), the less-technical skills (like emotional intelligence, creativity, and persistence) propel a PM’s career forward.
Great product leaders have significant stamina. To see a product through from idea to go-to-market requires a tremendous amount of patience and persistence. As more and more companies begin to implement inclusion and diversity goals, the prospect of more women in product (and in tech in general) is looking up.
Product management can be the next career step for women in engineering and quantitative roles.
Across all industries and roles, women are promoted at a slower rate than men. Indeed, only 86 women are encouraged to be a manager for every 100 men at the same level, according to McKinsey’s Women in the Workplace 2021 report, co-authored with LeanIn.Org.
McKinsey’s research has also shown a strong relationship between diversity on leadership teams and the likelihood of financial outperformance for companies: the most gender-diverse companies are 48 percent more likely to outperform the minor gender-diverse companies.
There is ample opportunity for companies to focus on the early-career development of women in technical roles and to deepen a talent pool that is integral to their success.
Gender diversity in product should be a given rather than a goal.
Female product managers play a vital role in the tech landscape due to their ability to bring a different perspective to the table.
The best women product managers are often those who never thought about doing the job, but are natural fits by how they feel, work and act. Find them. Actively recruit them into the discipline. Train and invest in them. Your product teams, your company, and ultimately the entire tech industry will be better.
If you are looking to diversify your product teams and empower the tech women of the future, Transition Partners are D&I advocates and would love to help you amplify your dynamic teams.