Mathematics, computer science, natural sciences and technology (MINT) specialists are desperately needed. However, despite the excellent career opportunities and good earning potential, it is not possible to recruit enough young people as offspring. Women in particular are reluctant to pursue and successfully complete relevant studies. The misery is now even noticeably slowing down economic development.
This is according to a study by consultancy firm McKinsey. According to this, the EU labor market will lack between 1.4 million and 3.9 million workers in the technological environment by 2027. This increasing demand in Europe cannot be covered by the current talent pool, which consists mainly of men. “The lack of gender diversity in the European technology landscape leads to significant disadvantages for workers, innovation and European society as a whole,” explains co-author Sven Blumberg.
To date, only 22 percent of STEM jobs in the EU are held by women. If we succeed in doubling the share of women in technical positions to 45 percent by 2027, Europe’s gross domestic product could increase by €260 billion to €600 billion.
guys no better
In elementary and secondary education, there’s no evidence that boys are better at math or computer science than their female classmates, says co-author and McKinsey consultant Melanie Krawina. But when it comes to enrollment in a MINT discipline at university, there is “an initial dramatic drop” to 38 percent. Only 19 percent of young women therefore opt for the technically oriented courses of information and communication technology.
Even the numbers from the universities are sobering in terms of gender equality from an economic point of view. But after graduation, the share drops again. The McKinsey analysis shows that 23 percent of college graduates take on a technical role when they enter the workforce. This is 44 percent for men. The advisers recommend that companies better promote women in the technology sector and, for example, offer more flexible working models or better childcare. Companies need to retain women better and give them a reason to stay in technology. Retaining female talent should be introduced as a key performance indicator for executive assessment.
Higher expectations with less support
McKinsey consultant Krawina sees the main reasons for the uneven development of stereotypes and misrepresentation of girls’ STEM skills compared to boys. “Girls are often attributed lower STEM skills than boys.” In combination with the influence of general stereotypes and the lack of female role models, these prejudices led to more expectation pressure. At the same time, girls and women receive less support from teachers, fellow students or parents.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
