“Technology jobs are for men” – this outdated yet still prevalent prejudice has been creating an invisible occupational barrier for women in many countries. As the world is witnessing unprecedented advancements in the digital era, demand for qualified STEM personnel is predicted to increase exponentially. However, among the major tech giants, women currently make up only 13-24% 13-24% of the tech-related jobs, and 17-30% ascending to leadership positions. According to Cisco, Vietnam is forecasted to experience a shortage of 500,000 IT engineers by 2020.
GE recognizes that if women are better represented in the industry’s workforce, this talent crisis can be resolved. In addition, gender balance also provides significant benefits for companies. One study showed that more gender diverse companies performed 53% better than lesser ones, including a 35% increase in ROE and a 34% increase in total returns, and MIT economists found that a gender shift could increase revenue by 41%. On this basis, the “Balance The Equation” campaign was officially launched by GE this year with the goal of having 20,000 women to fill STEM roles at GE by 2020 and obtaining 50:50 representation for all our technical entry-level programs. The program will significantly increase the representation of women in its engineering, manufacturing, IT and product management roles - a strategy necessary to inject urgency into addressing ongoing gender imbalance in technical fields and fully transform into a digital industrial company.
In Vietnam, the “Balance The Equation” campaign has been deployed effectively and thoroughly, from recruitment, compensation policy to training. For example, GE Hai Phong – one of GE’s 7 Brilliant Factories in the world- has the first female General Manager in Vietnam and many excellent female engineers. With talent and unyielding determination, they have confidently pursue their passion for technology and sciences and above all, gradually eliminate gender biases and inspire other women to pursue a career in STEM.
The stories about work and life that they share in this “GE Balance The Equation in Vietnam” video is the inspiration, encouragement and best wishes from GE to a Vietnamese girls and women on their special day – October 20th.
STEM stands for Science, Technology, Engineering and Mathematics