Diversity in the Tech Industry

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Diversity in the Tech Industry
Historically, the tech industry has struggled with inclusion and diversity. Majority of the founders in this sector has failed to undertake practical steps to improve diversity in the workforce even though they know the significance of such practice. Some examples include Google where 70 percent of employees are male, and 72% of Twitter executives are white. Even though tech companies acknowledge that diversity brings creativity and innovation in the workplace, the evidence on the ground shows otherwise. Only a small percentage of tech founders employ staff from diverse backgrounds. Additionally, half of the tech firms have taken proactive action to combat diversity hence the need to do more. In the last half decade, the tech industry has used more than a billion dollars to improve diversity, but this has just scratched the surface. More needs to be done as nothing has changed in the last ten years. The tech industry continues to trail in the American private sector regarding diversity because those at the top are not motivated to change the system.
It is crucial for the tech industry to increase diversity in the current business climate. If tech companies increase the number of employees from diverse backgrounds, they will generate additional revenue of about $300 billion annually (Lindzon, 5). A staff composed of people from different racial or ethnic background is filled with a lot of talent that contributes to the company`s creativity and innovation.

Additionally, gender diversity is essential to boost employee`s performance by 15 percent. Tech firms that embrace racial diversity are better financial performance than others in the industry. Furthermore, companies are focusing more on diversifying as a way to stay ahead in the market and deliver personalized consumer expectations.
Lindzon`s recommendations have various drawbacks. One major setback of increasing diversity in the tech industry is that minorities tend to leave the workplace at a higher rate than others. Furthermore, once hired, minorities tend to get promoted less often and are paid less than their colleagues. This is brought about by the unconscious bias training exhibited in the tech industry (Lindzon, 7).
Work Cited
Lindzon, Jared. “Is It Time For Investors To Tie Executive Compensation To Diversity Goals?” Fast Company, Fast Company, 9 Feb. 2017, www.fastcompany.com/3067987/is-it-time-for-investors-to-tie-executive-compensation-to-diversity-goals.