According to the report - Women in Tech: How Skills and Talent Diversity Drive Business Success by RMIT Online and Deloitte Access Economics - - women who successfully transition into tech can benefit significantly, with estimates that they can earn $31,100 more annually, representing a 31% average salary boost to the individual and a $4.3 billion positive wage impact overall.

The report notes that reskilled workers also generate additional profits of $16,400 each on average - and 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.

“Australia is set to have by 2030 and on how tapping into the current women workforce can help close this gap”.

Key insights from the report include:

• Australia faces a digital skills shortage, with over a third of businesses lacking expertise in generative AI and digital transformation.
• By 2030, the country will need 1.3 million tech workers, but the government’s target is — leaving a shortfall of 100,000, or 10% of the current workforce.
• Women are key to closing the digital skills gap. While they make up 44% of the broader workforce, they hold just 30% of tech roles. Increasing female participation would boost diversity and help solve the tech talent shortage.
• Businesses prioritising tech workforce diversity see clear benefits — over half report better team dynamics, performance, creativity, and innovation.

According to an Australian Computer Society (ACS) analysis, the country's businesses will need 1.3 million tech workers by 2030, or 100,000 more than the government’s target for 2030.

The report also explores the views of Australian business leaders on gender diversity and its impact on business performance.

One of the report's main conclusions is that upskilling or reskilling women to work in technology is a practical and fast solution to bridging the skills gap by improving gender diversity within the industry from its current 30% female versus 70% male split.

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.

In addition to identifying the potential for higher revenue and salaries, the data shows that “among the Australian businesses that achieved higher diversity in technology roles, more than half (59%) have experienced improved team dynamics and performance, and 58% have seen improved creativity and innovation as a result of diverse workforces”.

RMIT and Deloitte say that despite the positive views, most business leaders (67%) interviewed believe the tech sector should do more to encourage women to enter the field, and 68% say the government could also do more to support these efforts.

Nic Cola, CEO of RMIT Online, said: "Australia's tech talent shortage is a growing challenge, and reskilling women presents a practical, high-impact solution. 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."

Rhiannon Yetsenga, Deloitte Access Economics, explained: "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. 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.”

Other findings from the Women in Tech rerport include:

Benefits of gender representation, according to business leaders:

59% experienced improved team dynamics and performance.

58% experienced improved creativity and innovation.

56% were able to attract higher-quality staff.

52% experienced greater customer satisfaction rates.

Barriers to gender representation, according to business leaders:

68% say the government could do more to support efforts to attract women into the tech industry.

67% of business leaders believe the tech sector should do more to encourage women to enter the field.

How business leaders are overcoming barriers to gender representation:

62% have a DE&I policy to promote gender diversity in their tech workforce.

56% have a fair and inclusive hiring process designed to minimise the impact of unconscious biases.

45% offer reskilling and upskilling opportunities to promote gender representation in their tech workforce.

44% of business leaders say they’re aware of — and actively addressing — the need for greater representation of women in tech roles.