September 19, 2017
Amid advances, innovations and cutting-edge developments, the technology spotlight continually swings back to display a lack of diversity in the field. With large companies such as Facebook falling behind on their diverse hiring goals, mastering how to promote inclusion in the technical field is an uphill battle.
As new Bay Area companies gain funding, many are building diversity goals into their core concepts at every level, from making mindful hiring decisions to every day company culture and employer branding. Companies putting this at the forefront of their focus are not only setting the bar for inclusive and diverse hiring, but also proving to be successful ventures.
A 2015 McKinsey & Company study found that companies with greater gender diversity and ethnic diversity are 15 percent and 35 percent more likely to have financial returns above the national industry medians. Having a variety of decision makers at the table leads to forward thinking business solutions – as well as recognition from the industry through top awards in tech.
While hiring workers from diverse backgrounds seems like a simple directive, putting it into practice requires determination and education. San Francisco-based software company Lever is notorious for having a 50:50 gender ratio, and they’re paying it forward by hosting annual summits to educate other businesses on how to achieve the same.
Large companies like GE have set similarly aggressive goals, like having 20,000 women working in technology roles by 2020. Conscious hiring practices are a great beginning to an even staffing ratio and ensure no one is excluded from reaching their potential. Another Bay area rising star, Clover Health, is challenging the attitude around healthcare and inclusion by implementing diverse hiring practices – and was valued at $1.2 million after their most recent funding.
While diverse and inclusive hiring decisions are important, strategizing how to retain diverse talent is also essential to a positive work culture from the top down. Ensuring that women and minorities are represented in leadership roles is a big focus for ThoughtWorks, which has grown to boast 23.8 percent female leaders – nearly double the national average. One of Silicon Valley’s fastest growing startups, PagerDuty, made headlines last year for hiring their first female CEO and has since secured its largest round of funding yet. Having relatable leaders and mentors contributing to diversity in the workplace has a positive impact on overall employee satisfaction.
While the diversity issue is still far from solved, many companies are doing their part to make the tech industry more inclusive. Bringing further light to these initiatives, events such as the Annual Timmy Awards aim to recognize top employers like these for their accomplishments in creating top work environments. The Timmy Awards take place in September 2017 across 10 cities and include four awards pertaining to work culture, breakout startups, inspiring tech managers and tech workplaces that encourage diversity. Through recognizing company workplace achievements, thought leaders will be encouraged to continually innovate through both cutting-edge technology and progressive company cultures.
Read more about inclusion practices at TechCo
This article is brought to you in partnership with Tech in Motion. To find out more about Tech in Motion events click here.
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