But the future for STEM-related ventures remains hot.
What’s happening? Diversity in STEM simply doesn’t exist. The US Bureau of Labor Statistics predicts a 17% growth rate in STEM (science, technology, engineering, math) jobs through 2024, 5 points higher than non-STEM jobs. Yet the National Science Foundation reports that 80% of current STEM professionals are white or Asian males.
Ouch. As a result, private and public sector groups are committing funds and launching initiatives to narrow the gap and prevent what could be a significant talent drought in the next decade.
Why should you care? Beyond the obvious right thing to do, your business bottom line and competitive edge may depend on it. Industry research indicates that organizations with more racial and gender diversity bring in more sales revenue, more customers and higher profits.
Who’s leading? Companies like HireHer, founded in 2016 by Ruth Chandler Cook, who was inspired by her late sister, Lynne, former NASA engineer and modern day “Hidden Figure.” HireHer streamlines the talent acquisition and management experience for job seekers, recruiters and employers and has posted over 87,000 full- and part-time STEM jobs to date.
What can you do? If you have a STEM-related business and want to diversify your talent pool, follow these 5 tips from Ideal. Mentor other women and create positive role models for women who may shy away from careers in STEM.