As Australia faces a digital skills shortage, increasing women’s participation in tech could deliver a $6.5 billion benefit to businesses, a new report has found.
Transitioning women into the tech industry benefits individuals as well as the broader economy, according to the Women in Tech: How Skills and Talent Diversity Drive Business Success report by RMIT Online and Deloitte Access Economics.
Estimates show women who successfully transition into tech can earn $31,100 more annually, representing a 31 per cent average salary boost to the individual and a $4.3 billion positive wage impact overall.
Reskilled workers also generate additional profits of $16,400 each on average. Together with the wage premium, this suggests medium-sized businesses stand to gain a benefit of $278,700 annually, while large companies could see a $1.8 million dividend per year by attracting women into tech roles.
The report’s survey was fielded to 436 business leaders across Australia during December 2024. At the time of the interviews, the respondents were executives, board members, owners, directors or managers of companies with 100 or more employees.
Over a third of businesses lack expertise in generative AI and digital transformation. By 2030, the country will need 1.3 million tech workers, which is 100,000 more than the government’s target, according to an Australian Computer Society (ACS) analysis.
Currently, women hold just 30 per cent of tech roles, compared to 70 per cent of men. And yet, women are key to closing the digital skills gap, with the report revealing that upskilling or reskilling women to work in technology is a practical and fast solution.
“The emergence of Generative AI and other technologies presents an enormous opportunity for Australia. Yet, Australian businesses cannot capitalise on the benefits of new and emerging tech without access to the right skills,” said Rhiannon Yetsenga, Deloitte Access Economics.
“Reskilling women would help fill an urgent and growing skills gap while improving gender diversity in the tech workforce. This in turn will support economic growth and productivity across Australia’s economy more broadly.”
RMIT Online and Deloitte’s analysis identifies 661,300 women in Australia who, based on their current occupations and careers, could reskill into tech roles within approximately six months through short courses or on-the-job training.
Along with focusing on how to solve Australia’s tech talent shortage by tapping into the current women workforce, The Women in Tech report also explores the views of Australian business leaders on gender diversity and its impact on business performance.
The data shows that among the Australian businesses that achieved higher diversity in technology roles, more than half (59 per cent) have experienced improved team dynamics and performance, and 58 per cent have seen improved creativity and innovation as a result of diverse workforces.
Despite the clear benefits, most business leaders (67 per cent) reported they believe the tech sector should do more to encourage women to enter the field, and 68 per cent say the government could also do more to support these efforts.
“Australia’s tech talent shortage is a growing challenge, and reskilling women presents a practical, high-impact solution,” said the CEO of RMIT Online, Nic Cola, who adds that “gender representation drives profitability, innovation and performance.”
“With over six hundred thousand women in roles that could transition into tech with the proper training, the opportunity is clear. However, businesses can’t do it alone. The data shows an urgent need for greater collaboration between industry, educational institutions and government to accelerate upskilling efforts to attract women into tech.”