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More Companies Need To Focus On Diversity And Inclusion

oakstone international executive search more companies need to focus on diversity and inclusion

It comes as no surprise that tech start ups are not as diverse or inclusive as most would like – what comes as more of a surprise is that 72% of start-up founders rated diversity as ‘extremely important’.  So why isn’t more action being taken to make the start up world more diverse and inclusive?

There is the major factor of finding talent that prevents diversity in the workplace – the struggle to find great talent is one of the top challenges hiring managers face and finding diverse talent outside of large cities is even harder.  This is where remote working comes in useful – not only can you attract talent from all over the world you can attract a much more diverse workforce!

Offering remote working isn’t the only thing you can do to encourage a diverse workforce…

  • Ensure interview panels are diverse and minority groups are represented

  • Ensure online assessments and access to interviews are fair

  • Create employee forums, mentoring programmes and a great culture

  • Educate your employees on inclusions and diversity and the benefits it brings

But what are the advantages of having a diverse workforce?

  • 81% of founders say diversity enhances creativity and innovation

  • 67% of all founders say that diversity improves problem solving

  • 63% of all founders say that a diverse workforce provides greater access to talent.

There does however seem to be a discrepancy between belief of improved financial performance and improving diversity. Although founders see the advantages of having a diverse workforce, they struggle to see improved financial performance.  However, research has clearly shown that tech companies led by women are more capital efficient, achieving 35% higher ROI and 12% higher revenue.

If you want a more creative, innovative, problem solving team with improved financial performance then working towards a more diverse and inclusive team should be actioned!