Recent social and political changes have motivated conversations around diversity and inclusion, especially from leading global organizations.
Although tech titans like Alphabet, Apple, Facebook, Microsoft and Twitter started tracking their diversity efforts with annual reporting in 2014, progress has been slow. Six years later, these organizations reported a single-digit increase in their percentage of Black tech employees.
Last year, in the aftermath of the killing of George Floyd and the subsequent rise of the Black Lives Matter movement, major tech companies came together to address diversity gaps.
Here are some tips for enterprises to help them achieve their D&I goals:
1. Recognize that D&I Goes Beyond Race and Gender
The global shift in the perception and understanding of diversity and inclusion has enabled leaders to recognize that D&I are about more than gender and race, including sexual orientation, disabilities and age. There is a growing emphasis being placed on not just having diversity but also leveraging it to produce better outcomes.
2. Create an Inclusive Environment
A study by McKinsey & Co. on why diversity matters suggests that in the United States, for every 10 percent increase in racial and ethnic diversity on the senior-executive team, earnings before interest and taxes (EBIT) rise 0.8 percent. In the United Kingdom, for every 10 percent increase in gender diversity, EBIT climbs 3.5 percent.
This suggests that enterprises should create seats at the table for diverse voices. Creating an inclusive environment which is ingrained in the company’s culture is the beginning of this journey.
3. D&I Should Be Made a Constant Initiative
Diversity and inclusion should be considered as a constant effort and work in progress. It should be followed up by a series of initiatives which are ever evolving and growing. D&I initiatives should not be considered as ‘one-off’.
Initiatives like global mentoring programs, employee resource groups, multicultural talent management, and online learning and development modules can be great solutions to manage and retain diverse employees.
4. Leadership Should Lead By Example
Senior leadership should act as a role model for diversity and inclusion. It helps to set the tone for the entire organization. When senior leaders own D&I initiatives, it also helps to minimize bias and drive accountability in the organization.
Bring Your Diversity and Inclusion Goals in Practice
It’s high time that companies start to bring their D&I goals into practice. Udacity announced various scholarship programs— including Pledge to Equality, Black in Tech Scholarship, Scholarship sponsored by Nokia and Blacks in Technology and Women in STEM Scholarship — to upskill and enable underrepresented communities to bridge the skills gap and enter the tech workforce.
If your company would like to explore new scholarship opportunities by partnering with Udacity, , reach out to our corporate social responsibility team.
