Between 40,000 and 60,000 women leave the tech industry each year, costing the UK economy up to £3.5bn annually, according to new Lovelace report Unlocking £2-3.5 Billion.
Despite women making up just 20% of the UK tech workforce, the report finds a broken career framework is driving experienced talent out of the sector.
More than three-quarters of women with 11-20 years of experience have waited over three years for a promotion and over half earn below-average pay for their level.
While 90% of women surveyed said they want to lead, only one in four believe they can. The report estimates an annual cost of £1.4bn to £2.2bn from women leaving the industry, plus a further £640m to £1.3bn from churn as women move between tech employers.
The release of the report coincides with Ada Lovelace Day, which takes place every second Tuesday in October. It celebrates the pioneering mathematician widely regarded as the world’s first computer programmer and the achievements of women in science, technology, engineering and mathematics (STEM) fields.
“With women being 14-22% more likely to be in digital poverty than men, Ada Lovelace serves as an important reminder of the need to close the gender gap in access to technology,” says Elizabeth Anderson, CEO at Digital Poverty Alliance.
“Without the right tools, connectivity and digital literacy, many women face a self-perpetuating cycle of exclusion that limits their ability to participate in the workforce. We must work together to ensure that digital access is recognised as a fundamental right, and that no one is left behind in the digital age.”
As the UK aims to scale the national AI workforce twentyfold by 2030, the sector already faces a talent shortage of 98,000-120,000 professionals across AI, cybersecurity and digital infrastructure.
