Breaking the Glass Ceiling: Women and Web3 Careers
Despite the growing demand for technology professionals in the Web3 industry, women are still underrepresented in this field. However, recent advancements in technology and industry efforts to promote diversity and inclusion have created new opportunities for women to pursue Web3 careers. In this blog post, let’s take a closer look at the fastest-growing fields and opportunities for women in Web3 careers and how could European tech companies attract and retain more women in order to fix the growing tech talent gap.
Blockchain: Closing the Gender Gap in Blockchain Careers
Blockchain technology is at the heart of the Web3 industry, and it has become an important field for women to explore. According to a report by the World Economic Forum, women currently represent only 22% of blockchain professionals. However, this presents an opportunity for women to break into a growing field. For example, Melanie Mohr, the founder of WOM Protocol, is a leading female voice in the blockchain industry. Her company's blockchain-based advertising platform has already attracted high-profile clients like Samsung and Lamborghini.Decentralized Finance: Women Taking on DeFi and Thriving
DeFi is another rapidly growing field in the Web3 industry, and women have an opportunity to play a significant role in this field. According to a report by ConsenSys, women make up only 14.5% of the DeFi workforce. However, there are many women who are making strides in this field. For example, Camila Russo is a journalist and author who has become a leading expert on DeFi. She is the founder of The Defiant, a media company focused on DeFi news and analysis.Non-Fungible Tokens (NFTs): Women Making a Mark in the NFT World
NFTs have taken the art and entertainment world by storm, and women have a chance to make an impact in this field. According to a report by NonFungible.com, women account for only 14% of NFT buyers. However, there are many women who are creating and selling NFTs. For example, Mad Dog Jones is a Canadian artist who has become one of the most successful NFT creators. Her work has been sold for millions of dollars on various NFT marketplaces.Web3 Infrastructure: Creating More Accessible Blockchain Technology
Web3 infrastructure is another important field that women can explore. According to a report by Outlier Ventures, women make up only 10% of the Web3 infrastructure workforce. However, women are making strides in this field. For example, Amber Baldet is the CEO of Clovyr, a Web3 infrastructure company that is focused on making blockchain technology more accessible. She is a well-known figure in the Web3 community and has spoken at various conferences and events.
Despite the low representation of women in the Web3 industry, there are many opportunities for women to break into this field. The blockchain, DeFi, NFTs, and Web3 infrastructure are all rapidly growing fields that women can explore.
I live in Europe and the under-representation of women in technology roles across European companies is a major issue that needs to be addressed in order to close a talent gap and stimulate economic growth, according to McKinsey insights. Women occupy just 22% of tech roles, and while women's graduation rate in STEM disciplines during higher education is declining, the share of women in tech roles in Europe is heading towards a decline to 21% by 2027.
McKinsey suggests companies can increase the number of women in tech roles by 480,000 to one million by providing them with more support to thrive in today's digital workforce:
Women can fix European tech’s talent challenge, but only if and when companies address the issues that keep more women from joining and staying in the tech workforce can Europe hope to build its competitive edge. - McKinsey
So, how do we close the European tech talent gap? What is it that women really want from their technology employers? Let’s have a look:
Mentorship and Sponsorship: Women who are mentored or sponsored by senior executives are more likely to succeed and stay in their tech careers.
Inclusive Work Culture: Women in tech want to work in an inclusive and supportive environment that promotes collaboration, creativity, and innovation.
Flexible Work Arrangements: Women want work arrangements that offer them the flexibility to balance their professional and personal responsibilities. This includes working remotely, flexible work hours, and childcare support.
Professional Development Opportunities: Women in tech want access to training, mentoring, and professional development opportunities that can help them build new skills and advance their careers.
Equal Pay and Benefits: Women want to be paid fairly and equitably for their work, regardless of their gender.
Role Models and Representation: Women want to see other women in leadership roles and in technical positions within their organisations. Having female role models and representation helps to inspire and motivate women to pursue their careers in tech.
Addressing Bias and Discrimination: Women want tech companies to address biases and discrimination within their organisations. This includes ensuring that hiring, promotion, and pay decisions are fair and equitable, and that there is zero tolerance for any form of harassment or discrimination.
Purpose-Driven Work: Women want to work on projects that align with their values and purpose. Tech companies that are committed to making a positive impact on society and the environment are more likely to attract and retain women in their workforce.
Closing the gender gap in the technology industry is not just about doing the right thing, it's about tapping into a vast pool of untapped talent that can help businesses thrive and drive economic growth. With the demand for tech talent projected to grow exponentially in the coming years, companies that want to remain competitive need to take a proactive approach to attracting and retaining women in tech roles.
So tech companies should take note and stop pretending that they’re doing women some kind of favour when statistically, they should recognise the benefits of hiring and retaining women’s talent.