Woman increasingly interested in STEM, MetLife survey

Woman increasingly interested in STEM, Metlife survey

October 8, 2024 4:34 PM

Several people standing together in front of a screen that reads MetLife Triangle TechX. — Keynote speaker Sylvia Acevedo surrounded by fans

Women are considering careers in science, technology, engineering and math (STEM), according to MetLife's annual Triangle Tech X (TTX) report. Sixty percent of women are likely to say they find a STEM career attractive.

Bill Pappas, MetLife's global head of technology and operations, shared to Digital Insurance via email that more women in STEM would impact industries like insurance.

"Greater representation of women in tech roles can have a positive impact not only on the employee experience for those working in the industry, but also the industry itself. Greater representation of women can foster innovation, create more inclusive products, address ethical concerns in AI and contribute to a more balanced, diverse, and successful workplace.

"It could also help to encourage a more inclusive culture that attracts future generations of girls and young women into STEM and subsequently helps address the talent shortage. Our survey this year found more than seven in 10 employees, 72%, say having more women in STEM would inspire future generations of STEM professionals. Attracting more young women to the industry can help fill the pipeline at a time when an impending talent shortage is already an issue at the front of employers' minds."

Along with the survey, MetLife held its annual TTX conference October 1 and 2.

Naomi Johnson, head of strategy and transformation at MetLife focused on Latin America, led a panel on the future of education.

Andrea Stevenson Conner, principal at Stevenson Conner Global Strategies and past President & CEO of ATHENA International, said during the session that she is an advocate for the gender multiplier effect.

"It's an economic term that talks about the quantifiable ripple that when women and girls are educated and economically empowered, it has a great impact for the rest of us in society," she said. "I have long been a champion for that, but underrepresented students in STEM fields, it's still a persistent challenge, and how we go about supporting them from the classroom to the boardroom is kind of that key piece that is needed. … It's really important to make sure that women and girls are included in the conversation."

MetLife shared comments on women in STEM with Digital Insurance.

Responses have been lightly edited for clarity.

What was most surprising about the survey results?

The survey revealed several compelling insights—but there were two key takeaways.

The first was that disruption can be a catalyst for positive change, creating opportunities for greater inclusion and innovation. Through the survey, we learned that women in STEM are particularly optimistic about the potential of disruption to create more opportunities for inclusion in the workplace (76% said this). STEM employers echo this view, with 82% believing that disruption can power a more equitable and inclusive workplace for women.

The second key takeaway is that women are increasingly attracted to careers in STEM. Our survey found 60% of women find careers in science, technology, engineering, and math appealing, a 6% increase from last year. This surge in interest arrives at a crucial time when nearly 9 in 10 STEM employers report an anticipated talent shortage. By leveraging this increasing interest, employers can not only tackle talent shortages but also foster a more inclusive workforce that fuels innovation.

Why do you think more women are contemplating STEM careers?

The short answer is: disruption. Our survey shows women prefer to work for a company, manager, or with colleagues that embrace disruption and STEM industries are more likely to encourage that kind of forward-looking culture. This is yielding an abundance of opportunities because it's a field where they know they can lead, innovate, and make impactful contributions – and that's incredibly appealing. STEM also provides a unique opportunity for women to work with new and emerging technologies, providing them with a unique skillset and the democratizing knowledge that may otherwise be harder to come by.

What are the barriers for women entering STEM fields and how can organizations retain and attract women to these roles?

Stress, burnout, lack of mentoring, and need for more flexibility are some of the biggest challenges women in STEM face in 2024.

Cultivating a culture of disruption can help. Our survey found that embracing disruptive technologies and innovative practices can create a more inclusive and appealing work environment for women. In fact, 66% of women see disruption as advantageous in the workplace and 64% prefer to work for a company and with colleagues and leadership that embrace it. By embracing disruption, employers can ensure they both attract and retain women in STEM – ultimately supporting a more inclusive environment where individuals can thrive and providing younger generations of girls with female role models and mentors.

How can insurers promote the industry as having STEM-related careers?

MetLife has been at the forefront of this transformation, leveraging these technologies to provide innovative solutions. One of the ways insurers can promote the industry as having STEM-related careers is by engaging with educational institutions to share the opportunities for young STEM talent. MetLife convenes academia and industry in a series of salon-style dinners focused on shaping the next generation of STEM talent in the Research Triangle. We also promote our STEM careers through engaging programs that activate our employees while attracting new talent. For instance, our MetLife Asia team has successfully used hackathons as a recruiting tool to attract top talent. What's more, we just held our 6th-annual Triangle Tech X conference – a free, virtual conference aimed at exposing women and young girls to STEM and attracting more of these cohorts to the industry.

We further engage with the tech industry by cultivating partnerships to advance and accelerate the next pipeline of STEM talent. For instance, we recently partnered with NC TECH to develop the Center for Workforce Innovation. Moreover, we encourage employee ambassadorship, empowering our team members to be brand advocates and share their experiences, thereby strengthening our community and enhancing our corporate culture.

How may emerging technologies like AI and data analytics impact women in STEM?

Our survey found that in 2024, 52% of women in STEM expressed optimism about AI's impact on their jobs, up from 37% in 2023. Since women are particularly optimistic, they're poised to lead a balanced approach to AI application – especially in STEM fields, which are ripe for disruption. With women in STEM driving a lot of these technological advancements, there is a greater opportunity to address bias in tech development – leading to the creation of a more equitable innovation landscape. Furthermore, AI-powered learning platforms can provide younger women with greater access to educational resources, enabling them to acquire new skills and knowledge more easily and effectively. This increased access to learning can help bridge the gender gap in STEM and empower more women to pursue and succeed in these fields.

Anything else you would like to share?

MetLife's Triangle Tech X (TTX) Conference significantly influenced the dialogue surrounding these topics. By highlighting the connection between disruption and inclusion, the event empowered participants to break barriers and take the lead in shaping the future of STEM. Initiatives and events like TTX demonstrate that the future of STEM is not only about technology but also about creating a diverse, inclusive workforce ready to address tomorrow's opportunities and challenges. With more women interested in STEM careers, the future is looking promising.