Women in tech and finance are facing a daunting reality as AI and automation continue to chip away at job security. A recent report by the City of London Corporation has shed light on the stark disparity between men and women in these fields, revealing that female professionals are not only being left behind but also marginalized due to rigid hiring processes.
The study found that mid-career women with five or more years of experience are being overlooked for digital roles, despite their extensive professional backgrounds. The reason? Automated screening of CVs that neglects career gaps related to caregiving responsibilities, leaving many talented women in the shadows. This phenomenon is not unique to individual companies; a staggering 12,000 digital vacancies went unfilled in these sectors last year due to an acute shortage of skilled workers.
The consequences are far-reaching, with an estimated 119,000 clerical roles at risk of being displaced by automation over the next decade – predominantly occupied by women. This exodus could result in companies shelling out £757 million in redundancy payments. In contrast, upskilling staff would not only save employers from costly layoffs but also allow them to focus on candidates' potential rather than their past technical experience.
To mitigate this crisis, the City of London Corporation is urging employers to prioritize re-skilling female workers currently in non-technical roles, particularly those most vulnerable to automation. This targeted approach would enable companies to tap into a vast reservoir of untapped talent and unlock enormous value from underutilized skills.
However, the stakes are high, with up to 60,000 women in tech leaving their jobs each year due to lack of advancement, recognition, or fair compensation. The report's findings underscore the urgent need for employers to rethink their hiring strategies and invest in workforce development programs that focus on talent, adaptability, and opportunity.
The UK's workforce is bracing itself for a future where AI-driven job displacement becomes increasingly common. With an estimated £10 billion in economic growth at stake, companies must take proactive steps to upskill workers and stay ahead of the curve. As Dame Susan Langley, mayor of City of London, aptly put it, "Investing in people and supporting digital skills development will unlock enormous potential and build stronger, more resilient teams." The clock is ticking; time for employers to act is now.
The study found that mid-career women with five or more years of experience are being overlooked for digital roles, despite their extensive professional backgrounds. The reason? Automated screening of CVs that neglects career gaps related to caregiving responsibilities, leaving many talented women in the shadows. This phenomenon is not unique to individual companies; a staggering 12,000 digital vacancies went unfilled in these sectors last year due to an acute shortage of skilled workers.
The consequences are far-reaching, with an estimated 119,000 clerical roles at risk of being displaced by automation over the next decade – predominantly occupied by women. This exodus could result in companies shelling out £757 million in redundancy payments. In contrast, upskilling staff would not only save employers from costly layoffs but also allow them to focus on candidates' potential rather than their past technical experience.
To mitigate this crisis, the City of London Corporation is urging employers to prioritize re-skilling female workers currently in non-technical roles, particularly those most vulnerable to automation. This targeted approach would enable companies to tap into a vast reservoir of untapped talent and unlock enormous value from underutilized skills.
However, the stakes are high, with up to 60,000 women in tech leaving their jobs each year due to lack of advancement, recognition, or fair compensation. The report's findings underscore the urgent need for employers to rethink their hiring strategies and invest in workforce development programs that focus on talent, adaptability, and opportunity.
The UK's workforce is bracing itself for a future where AI-driven job displacement becomes increasingly common. With an estimated £10 billion in economic growth at stake, companies must take proactive steps to upskill workers and stay ahead of the curve. As Dame Susan Langley, mayor of City of London, aptly put it, "Investing in people and supporting digital skills development will unlock enormous potential and build stronger, more resilient teams." The clock is ticking; time for employers to act is now.
, it's crazy! I mean, companies need to think about why they're not even looking at mid-career women with experience - do they just assume all that experience is worthless cuz of career gaps? 
And 12,000 digital vacs go unfilled every year?! That's insane 
. We gotta make sure we don't lose talented women who are already experts in their field, but also need some training to stay current with AI 
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. The City of London Corp is on to something with this targeted approach 
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, and we should be celebrating them too! We just need more opportunities for underrepresented groups in the industry 
. So yeah, let's get to it and make sure we're not leaving anyone behind 
women in tech & finance are getting ROBBED 
AI & automation are chipping away at their jobs security 
mid-career women with 5+ yrs of exp are being overlooked for digital roles cuz of automated CV screening that neglects caregiving responsibilities 
it's not just individual companies, 12k digital vacancies went unfilled last yr 
and we're expecting 119k clerical roles to get axed by automation in the next decade 
. Meanwhile, 12,000 digital vacancies go unfilled each year because companies can't be bothered to re-skill the people who already know what they're doing 
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. The clock is indeed ticking – let's hope companies take action before it's too late 
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It's like we're sleepwalking into a world where women are being left behind in the tech and finance industries, just because they took time off to raise their families or care for loved ones. Career gaps from caregiving responsibilities are still seen as a major red flag on CVs? Come on! 
We need more flexible hiring processes that focus on potential over past experience. And can we talk about the economic impact of all this? £757 million in redundancy payments just because companies couldn't be bothered to upskill their staff? No thanks. 
The City of London Corporation is onto something with their re-skilling strategy, but it's gotta be a lot more than that. We need systemic change here. 
And the fact that 12,000 digital vacancies went unfilled last year just highlights how big this problem is.
Companies need to take proactive steps to upskill workers and stay ahead of the curve. It's not just about saving money on redundancy payments – it's about creating a more inclusive and resilient workforce that can drive growth and innovation in the UK economy. 
. We need to do something about this ASAP before even more women get left behind and have to take on an entire decade of job displacement 
. Up-skilling staff is the way forward, imo. Companies should be investing in re-training female workers in non-technical roles so they can tap into their vast skills and experience 
. It's time for employers to put people over tech for a change 
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i think companies need to prioritize re-skilling female workers instead of just focusing on tech skills we should be training women in areas like project management, leadership, and innovation so they can stay relevant in the workforce 
. We can't let career gaps due to caregiving responsibilities be a major obstacle 
just need the chance to show it 
or risk losing £757m in redundancy payments 
... and now we're facing 119k+ clerical jobs being automatted away