The world needs more women in science, technology, engineering, and math (STEM) to solve global challenges and inspire the next wave of innovation, revealed the latest MetLife research.
According to MetLife’s annual TTX report on women and STEM, most employees at US companies express concern over the impact of global socioeconomic challenges. They also think that progress towards identifying solutions is too slow.
Employees say having more women in STEM is critical to moving the needle on this. Yet, many women in STEM continue to struggle with barriers to their career progression. This comes on the heels of MetLife’s 2021 and 2020 research, which found women left the workforce at an alarming rate during the pandemic and faced roadblocks when trying to return.
“There’s a tremendous opportunity for employers to forge a more equitable path forward,” said Bill Pappas, Head of Global Technology and Operations at MetLife. “Industry leaders and STEM workers believe it could take 20 years or more for women to be equally represented in these fields, but we don’t have nearly that long. Women are critical to inspiring the next wave of innovation.”
UNCERTAINTY FOR WOMEN IN STEM
While the industry has seen some progress over the past year, obstacles for STEM equality remain. STEM women are almost twice as likely as non-STEM women to say they are considering leaving the workforce. They attribute this to a lack of diversity at their companies, in addition to stress and burnout.
Compounding the issue, there are fewer women in STEM leadership positions today than just a year ago. The survey also found that women in STEM leadership ranks – including people managers, team leaders, and executive leadership – fell 14% over the past year. This indicates a widening representation gap.
OPPORTUNITY FOR EMPLOYERS
Despite these challenges, nearly half of women see STEM as an innovative and impactful field that can contribute to solving major societal challenges. This presents a significant opportunity for employers to improve how they attract, develop and retain female STEM talent.
“Often, women are simply overlooked,” said tennis champion Serena Williams, who has faced many barriers in her various careers. “It starts with just giving women opportunities because we’ve had to work harder for what we achieve and we won’t disappoint.”
The MetLife research shows there are several different ways employers can encourage women to continue pursuing careers in STEM. This includes increased flexibility; career progression opportunities; a purpose-driven culture; and creating a more inclusive workplace. “The time to act is now,” said Robin Gordon, Chief Data and Analytics Officer at MetLife. “It’s clear that bringing more women into STEM will have a profound impact on changing our world.”
That’s why it’s so critical for women to be “given the opportunities and support they need to thrive at every stage of their careers”, added Gordon. To discuss the opportunities around women in STEM, MetLife’s 4th annual Triangle Tech X Conference, “Inspiring the Next Innovation Wave”, will convene top technology and business leaders, including companies such as IBM, Microsoft, Dell, SAS, and Cisco on 30 November and 1 December.
Global cultural icon Serena Williams – who is not only one of the greatest tennis players of all time, but also a success in business, venture capital and fashion – will be the keynote speaker. Other thought leaders presenting at TTX include futurist Amy Webb, Project Include CEO Ellen Pao and Emmy-nominated TV host Emily Calandrelli.
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