Wall Street Journal writer Georgia Wells reported this week that, “As tech firms compete in an escalating battle for talent, some are targeting what they consider an undervalued source: women returning to the workforce.
“Companies including International Business Machines Corp., Google parent Alphabet Inc. and PayPal Holdings Inc., as well as smaller startups, are using internships and other programs to help women get back to work and up to speed on the latest technology they need to be competitive in the workplace.”
The Journal article explained that, “The tech industry has a shortage of qualified job candidates. The unemployment rate in Silicon Valley is less than 4%, lower than the California and national rates, according to the Silicon Valley Institute for Regional Studies.
“‘Every company today is dealing with how to bring in good talent,’ says John Donahoe, chairman of the board of PayPal and former chief executive of eBay Inc. Hiring women returning to the workforce ‘is a source of competitive advantage.'”
Ms. Wells added that, “Tech lags behind other industries in welcoming women back. In financial services, Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Morgan Stanley formed midcareer re-entry programs years ago. Consulting firm McKinsey & Co. contacts former female employees to see whether they are interested in returning.
“By targeting this population, tech companies also are trying to fix a weakness in the industry: the under-representation of women. Tech companies have among the lowest participation of women of any sector, according to data from LeanIn.Org and McKinsey.”
