Tech has a diversity problem—and it’s one they’ve struggled to address. Despite platitudes and Ted Talks hailing the virtues of diverse teams, the leadership teams of many major Silicon Valley darlings are still overwhelmingly white and male.
According to their latest diversity reports, major tech companies such as Apple, Google, Lyft, and Slack have workforces that are more than 50 percent white. Women make up only 26 percent of the U.S. computing workforce. And the numbers are even more discouraging when you look at intersectionality—black women only make up 3 percent of the computing workforce, and Latina women, just 1 percent.
These numbers alone make the case for why diversity and inclusion (D&I) need to become more than just buzzwords—they need to become a disruptive, driving force behind the way tech organizations do business.
“I find that a lot of companies are shallow,” said Deirdre Joy Smith, founder and CEO of Power, an organization that promotes corporate leadership for women .“They say they have a D&I committee, and they do, but it’s one or two people. Can you imagine being in a Fortune 500 company, working across gay and lesbian issues, African American issues, women issues, and other affinity groups, with only two people? For a company that is spread out, it’s not appropriate.”
Scott Hoesman, CEO of inQUEST Consulting, explained that many business leaders desire to do the right thing, but they need more guidance. “There’s not a course on inclusive meetings that’s prevalent. We’re not taught about the things we need to be aware of when we’re in meetings or even when we’re making project team selections within our organizations. I think we have to do a better job of providing leaders these answers—not just awareness.”
The benefits of making a real change are clear: Organizations that take diversity seriously are tapping into the knowledge, creativity, and ingenuity of previously under appreciated sectors of the population, making them more prepared to handle the challenges of the digital age. According to a report by the Boston Consulting Group, companies that reported above-average diversity in their leadership reported a 45 percent average innovation revenue, compared to just 26 percent in companies with less diverse management.
Of course, the ROI on increased diversity goes beyond revenue bumps. Corporate diversity creates spaces where employees can feel more comfortable participating and sharing ideas, leading to better employee experiences and higher talent retention for their employers. According to Deloitte, 32 percent of millennials believe that businesses should work to improve society through addressing diversity, education, and inequality. And a Cone Communications study shows that three-quarters of millennials would take a pay cut to work for a socially responsible company. In the world of disruptive tech, where in demand skills are often hard to come by, this has never been more important.
