At Sharp Decisions, we know diversity is a powerful indicator of future success. Despite that, companies across the tech sector still struggle to build a diverse workforce. From small brands to large tech companies, pledges to improve women and BIPOC (Black, Indigenous, and People of Color) representation goes largely unfulfilled.
Tech companies have openly acknowledged the absence of diversity in their firms, hoping for improvements in the coming years. Yet their progress pales in comparison to the labor market as a whole. While Deloitte predicts that women will hold 33% of the jobs at large global tech firms by the end of 2022, women make up nearly 60% of the national workforce, as reported by the U.S. Bureau of Labor Statistics (BLS). Plenty of room remains for improvement.
Even with ongoing investments in diversity improvements, the top tech companies report that they’ve only managed to increase their BIPOC representation to less than 10%. The BLS states that the BIPOC population makes up 30% of the national workforce, it’s clear that there’s room to do much better here as well.
The push for diversity in the tech sector stems from the desire to make the world a more equitable and fairer place for all people; it’s also just good business. As revealed in a McKinsey report, companies that land in the top quartile for ethnic and racial diversity are 36% more likely to enjoy above-average profits. Furthermore, similar gender diversity achievements make companies 25% more likely to earn more than the national median.
One of the best ways to diversify your company is by selecting candidates from the most diverse population in the nation: United States Veterans – and Sharp Decisions is here to help.
Our award-winning V.E.T.S.TM Program finds veterans with tech backgrounds transitioning into the civilian workforce and pairs them with businesses that have critical needs for digital transformation projects. We proudly find meaningful employment for the most diverse population of workers in America – and that is something worth celebrating.