A lot has happened in the last century to advance women in society. In 1965, French Civil Code reforms allowed married women in France to practice a profession without their husbands’ permission. In 1970, the UK Equal Pay Act went into effect to eliminate wage disparity between men and women for the same work. In 1974, women in the US were finally allowed to open a bank account or secure a loan without a male co-signer. In 1975, the UK Employment Protection Act expanded maternity leave provisions. In 1977, West Germany allowed women to work without their husbands’ permission.
Many might look at these advancements and say that gender inequality is no longer a major issue. Women have more rights than ever before. Women have gained many legal rights, but societal and psychological constraints are rooted even deeper. The glass ceiling may be invisible, but it remains very real.
A recent report by the World Bank Group revealed that the global gender gap for women in the workplace is far wider than previously thought. The report, Women, Business, and the Law, examined the difference between legal changes and real outcomes for women in 190 economies. They found a significant implementation gap. While laws suggest women have two-thirds of the rights of men, countries have set up less than 40% of the needed systems. For example, 98 economies require equal pay, but only 35 have measures to enforce it. Gender pay disparity is illegal, yet the gender pay gap persists. Austria has one of the highest gender pay gaps in the European Union at almost 19%. This disparity continues into retirement, with women’s pensions being, on average, 38.7% lower than men’s. Sure, we’ve made some progress, but we still have so far to go. I know because I’ve experienced the impact of these shortcomings on my journey as a female founder, where I’ve observed venture capital for female-led startups steadily decline from 2.8% in 2019 to 1.8% in 2023 (see PitchBook, WEF Forum, PitchBook, TechCrunch). It’s easy to read these numbers and feel discouraged.
Cathedral thinking: A long-term perspective
In the Middle Ages, architects and artisans embarked on ambitious projects to construct cathedrals, structures of such grandeur and complexity that they often took centuries to complete. These visionaries laid the foundations of buildings they knew they would never see finished, a testament to their faith in the future and their commitment to a cause greater than themselves. Today, leaders of the women in tech movement are modern-day cathedral builders, striving to create a better future that they may never get to fully experience in their lifetimes.
Here are 3 practical steps we can work on today to lay the next bricks and empower women in tech:
Understand that gender equality drives profitability: Companies with gender-diverse leadership teams are 21% more likely to experience above-average profitability, enhancing job security and growth potential for all employees, including men. Andrey Doronichev, former Director of Product Management at Google, emphasized that diverse teams build better products: ‘If you are building a product for everyone, everyone must be in your team.’ During the development of Google’s VR Daydream glasses, his team initially consisted only of men until they finally hired a female PM. She immediately identified a problem: the rubber band on the glasses tangled her long hair. For half of their potential users, that was unacceptable.
Stop demanding excellence and let women embrace failure: Women often face harsher scrutiny and higher standards than men. Studies have shown that identical work performance is rated lower when attributed to women compared to men. Marina Davidova, GP of DVC, a venture capital firm, encourages female-led startups to fail more. Yes, you read that right.
“Since most startups fail, the venture capital model is built on power laws where a small number of outlier successes drive overall returns. VCs expect the majority of their portfolio to fail and are seeking “fund returners” – the rare startups that can deliver 100x outcomes. These startups are often moonshots requiring bold risks and pattern-breaking ideas. But since women are often socialized from a young age to avoid failure and seek security, women founders less often choose to work on disruptive models and instead often replicate. While this can lead to steadier performance, it also means we may be less likely to swing for the fences.”
The huge paradox in all of this is that studies show that on average, women-led tech companies deliver 35% higher ROI than those led by men. So Marina’s challenge to women in tech: “Take bigger risks and embrace failure as a learning opportunity, understanding that failure is part of the journey toward innovation and success. In startups, there are second (and third) chances. Failure is not a verdict. It’s just an experiment that didn’t work out, one in a long line of experiments we are going to make”.
Share Family and Caregiving Responsibilities Equally: Nobel Prize-winning research by Claudia Goldin found that much of the gender pay gap arises from differences within the same occupations. This gap is often due to women’s reduced working hours and career interruptions related to family responsibilities. Both parents should be required to take equal parental leave to share caregiving responsibilities. Studies show that 89% of fathers believe it is important for employers to provide paid paternity leave and 90% of men who took leave reported increased bonding with their children and a better understanding of their role as parents. This measure would help close the gender pay gap and reduce discrimination in hiring, as employers would know that both men and women have equal chances of taking parental leave at some point.
A vision beyond our lifetimes
The path forward is challenging, but cathedral thinking offers a powerful framework for women in tech. Just as medieval builders invested in projects they wouldn’t see completed, today’s female tech leaders are creating long-term solutions. These efforts lay the groundwork for future generations, built not with stone, but with innovation, patience, and a commitment to making the world a better place.
Read the orginal article: https://www.eu-startups.com/2024/08/cathedral-thinking-why-we-still-need-to-talk-about-women-in-tech/
