It’s no secret that the tech space is overwhelmingly male-dominated, but a handful of women have made their way to the top of major businesses within the sector:
- Lynn Lucas has over 20 years of experience working as CMO at companies that specialize in cloud software and SaaS business models, she now works as CMO of Cohesity
- Hannah Fitzsimons is the European Executive Vice President & General Manager at Elavon Inc. she has worked for the global payments specialist for 14-years
- Tech entrepreneur and founder of Tech Women Today, Cecilia Harvey, is the former COO of Citigroup Markets and Securities Services Technology and has over 20 years of experience working on Wall Street
I spoke to all three of them to find out what their advice is for women looking to break into the sector.
Dishearteningly for Lynn Lucas, during her time at the top of the industry, there has been very little change in the number of women reaching peak positions in the technology sector. Lynn first became VP of Proxim in 1996, and since then the number of female IT leaders worldwide has remained around 9%. I asked her about her experience of changes in the industry and how women can make a mark in the sector.
Has there been a palpable change for you as a woman in business (and particularly tech) from when you started out?
Speaking from personal experience, I don’t think there has ever been a more exciting time for women to embrace leadership positions at companies that can truly change the world. A diversity of all kinds has been proven in many studies to make businesses more innovative and able to attract better talent. Recent events have prompted this discussion, and I remain hopeful that it is a sustained conversation. Even 10 years ago, there wasn’t nearly as much focus on women in positions of leadership, including in Silicon Valley.”
Are you seeing more women trying to break through into the industry?
I do see more women making huge gains in tech. Think about Girls Who Code founder Reshma Saujani, Susan Wojcicki, CEO of Youtube, or Ginny Rometti at IBM. Women want to work for companies that are progressive, innovative and visionary in nature. I don’t think you can confine that desire to one specific category, whether that be the future of the automotive industry, healthcare, retail, energy or aerospace.”
What do you think the solution is for attracting and retaining more women in the tech industry? Particularly getting more women to board level?
Certainly, continuing significant investment in STEM for girls through school is key. In our digital and data-driven world, every business is becoming a tech business if they aren’t already. At the board level, I believe companies that treat the board room in the same way that they treat innovation, with a modern approach and a willingness to think differently, will be more successful.”
For Hannah, the solution has to be those in the same boat support each other she says:
It is crucial that women inspire, advise and mentor each other. I am a mentor for the Women in Payments Network who bring women together in Cards & Payments through networking events and workshops. Having supporters in the business who are your allies and backing you, is also a key ingredient to success particularly the higher up the ladder you go. Ensuring you have the right mentors inside and outside your business to guide you on your career path and give an alternative perspective.
I do get very frustrated when I hear women ruling themselves out of the next opportunity before they have even considered it. My advice is to take every opportunity that comes along when it happens, don’t worry about tomorrow."
What is on the horizon for women in fintech in the future?
Unfortunately, in payments, there are still very few women in C-level positions.. I am often still the only, or one or very few, women in the room at senior events or director meetings. Fintechs are helping to change the reputation of the financial services industry by employing more women at the top. The industry is becoming much more appealing to the next generation and I believe providing flexible working is the key to the progression of women in the workplace.
The more that women are celebrated in the workplace the more it enhances confidence and makes other women more aware of the opportunities that are available. Moreover, our industry demands a curious and open mind-set, we can’t afford to make assumptions because business and consumers needs and wants are changing. In my experience this is more often a natural strength for females in our industry and the conditions are ripe for acceleration of women into more senior roles."
As founder of the influential organization Tech Women Today, Cecilia interviews some of the most prominent female tech entrepreneurs to bust myths and give advice to women looking to build a career in technology. I got her to share her 5 top tips for women in tech today:
- Don’t view yourself as being different because you are a woman.
- Help other women in the industry. This is a great way to establish yourself as an industry leader.
- For example, FinTech is a broad area, however, if you specialize in a specific area, such as payments technology, colleagues will view you as a valuable resource.
- Focus on Security and Controls. Cybersecurity, data protection, and IT risk management are realities that all professionals must have an awareness about in order to be taken seriously. Champion efforts that focus on improving security and controls.
- Know Your Competition. Ask clients, colleagues, and industry peers about their views on the competitive landscape. Understand who are the leading players and why they are leading the industry.
So, while it may seem as though the industry is standing still, there are still waves to be made as a woman in the tech sphere.
