(10 min read)
I’ve been beating the drum of the business value of diversity and inclusion (D&I) in tech since 2015. Many moons later, still every time I engage in this discussion with business leaders, they invariably default to either the diversity of their workforce or the McKinsey reports correlating the gender and ethnic makeup of their leadership teams to increased financial returns such as higher earnings before interest and taxes (EBIT).
In my experience, it’s hard to use correlation to convince the skeptics or to support D&I champions. On the flip side, through my professional and personal path, I’ve witnessed innumerable instances where D&I has played a crucial role in the success and failure of initiatives and organizations.
How did I come to witness all that evidence? I’ve been a unicorn all my life. I became an emigrant before I was a year old and I’ve had the opportunity to live in 6 countries and 3 continents. As a woman, my professional path is “atypical” by Anglo-Western standards. I studied engineering and computational chemistry, which are considered typically male occupations. Beyond academia, I’ve worked for chemical and tech companies. I don’t have children. I still remember talking to colleagues in December 2015 about the need to put in place a strategy to retain women in tech as half of the young women who go into tech drop out by the age of 35 [source]. To my surprise, often my puzzled interlocutors would ask me if “diversity and inclusion was an American thing”.
Fortunately, nowadays there is much more awareness about diversity and inclusion in business, including the tech sector. Also, there are some companies that are getting tangible value out of understanding the value of developing solutions for underserved populations. As I’ve written in the past, people with disabilities and their families constitute a market the size of China ($8 trillion/year). Closer to home, the UK’s 12 million people with disabilities have a spending power of £120 billion as per AbilityNet, a British charity focused on the digital inclusion of people with disabilities.
But how to go beyond preaching to the converted? Moreover, how to engage with organizations that don’t have the budget for a Head of D&I?
What business leaders want to know about the value of D&I
Early June this year, I launched a survey asking business owners, managing directors, CXOs, and board members their top question about the business value of diversity and inclusion. In return for answering the survey, I offered respondents to email them my answer to their question.
I categorized the 50 answers I received into four buckets. Even in such a small sample, still we can trace a roadmap for how organizations approach D&I at workplacesContinue reading