Diversity pays: companies with higher levels of racial and ethnic diversity are more likely to have higher earning
The technology industry suffers from a diversity problem – fact. Industry reports show that while 60pc of technical roles are filled by white people, a mere 1-2pc are filled by black people. Another recent study by the British Computer Society (BCS) found that just 17pc of technical roles in the UK are filled by women.
But does any of this actually matter? The simple answer is: yes, for two key reasons. For one, the UK Commission for Employment and Skills showed that 43pc of science, technology, engineering and maths (STEM) vacancies are currently hard to fill owing to a lack of skilled candidates.
Second, diverse workforces have been proven to improve a company’s bottom line. According to management consultancy McKinsey, companies in the top quartile for racial and ethnic diversity are 35pc more likely to have higher earnings than the national industry average. Similarly, those in the top quartile for gender diversity are 15pc more likely to outperform their competitors financially.
So what can businesses do to encourage a broader range of individuals into the technology sector? Read full article on The Telegraph