One of the highlights of the Digital Enterprise Show in Madrid this past 21st-23rd of May was a lecture by Sheree Atcheson, Deloitte UK’s Technology Respect & Inclusion Manager, on the importance of diversity in technological companies. She shared some staggering statistics about inclusion in the workplace: women in the tech field are outnumbered four to one; only 15% of employees in the UK’s tech industry are from BAME communities (black, Asian, and minority ethnic); 83% of tech executives are white men; and 72% of workers are over 35 years of age, combatting the stereotype that the tech industry is dominated by youth.
Ms. Atcheson also highlighted the difference between equality and equity, as presented by the Deloitte Review’s article titled The Diversity and Inclusion Revolution. Equality is when “everyone benefits from the same support.” When “individuals are given different support to make it possible for them to have equal access”, they are being shown equitable treatment. These terms are based on the idea that individuals, depending on a series of factors that make them diverse, do not have the same access in the workplace – whether it be to salary, to a promotion, or to opportunities. This is where allyship comes in. The idea behind allyship is that people have varying levels of privilege; an ally, therefore, is a more privileged person who takes advantage of their condition to help someone who is less privileged.
We know that inclusion is the right thing to do and there’s no question that it’s good for your company’s image, but just how profitable is it? Apparently, very. According to Ms. Atcheson, there is a business behind embracing diversity:
- Just one woman on the executive board can lower bankruptcy risk by 20%.
- An organization that respects diversity is two times as likely to go beyond their financial targets, three times as likely to perform at a high level, six times more likely to be flexible and innovative, and eight times as likely to improve its business performance.
- A company whose believe “their organisation is committed to and supportive of diversity, and they feel included” sees an 83% in profits from innovation.
- The top 25% most gender-diverse companies are 15% more likely to perform better than the competition. The top 25% most ethnically-diverse companies are 35% more likely to perform better than the competition.
At Gedeth, we are #internationalnatives, and we appreciate the value of cultural diversity. Our team boasts 6 nationalities and speaks 8 languages. We have all lived and worked overseas. In an increasingly globalized world, it becomes necessary to define our approach to diversity. Deloitte and Gedeth have made their policies very clear: inclusion is the only way to go.