SAN FRANCISCO, June 9, 2020 /PRNewswire/ -- Companies in
the tech industry have an unprecedented opportunity to advance
diversity throughout their organizations and finally deliver on the
promise of a culture of equality with a diverse workforce.
Diversity continues to elude the Tech Industry according to
exclusive research on the Tech Industry's Diversity Hiring
Practices released today by Female Founders Faster Forward (F4) an
independent non-profit 501(c)/3 organization. The report reveals
that 95.5% of tech company job seeking candidates reported that
discrimination was the factor for not being hired. Since 71% of the
surveyed candidates are under-served minorities, it elucidates tech
companies' ongoing struggles to create an equitable hiring process.
The lack of diversity in hiring is reflected in the workforce
demographics across 30 Major Companies in the Tech Industry where
88% of employees are Caucasian and Asian and 64% are male. The
research also shows that ethnic minorities continue to be underpaid
compared to their Caucasian and Asian counterparts, demonstrating
that the culture of inequality persists even after under-served
minorities are employed by tech companies.
While current events reshape companies and industries, business
leaders need to think beyond survival and recognize opportunities
for growth. Never has diversity been more important to growth – the
new environment requires new ways of thinking and better
connections to customers. Visionary tech leaders can select
from a larger, more diverse pool of talent and lay the groundwork
for post-crisis recovery and growth. Unfortunately, most companies
make the mistake of uniformly freezing hiring in crises, instead of
taking advantage of the amazing hiring opportunity, sprinting away
from competitors, and never looking back.
"This is an extraordinary opportunity for business leaders in
the tech industry to lead for equality, act for diversity. The time
is now to hire diverse talent for lasting greatness," stated F4's
Founder June Manley. "As we emerge
from this unfolding tragedy, it will be the long-term visionary
leaders who invests and advances equality and diversity today,
their organizations who not only survive but thrive, tomorrow."
Related Materials:
Tech Industry's Diversity Hiring Practices
About the Research
The Tech Industry's Diversity Hiring Practice research was
conducted by F4 for the EQUALITY FOR ALL initiative
(www.equality4all.org), between March 5th
and March 12th, 2020. The research was conducted using an
online survey focusing on active job seeking candidates who had
interviewed for a job at a tech company.
About F4
Female Founders Faster Forward (F4) is an independent non-profit
research, policy and advocacy organization dedicated to championing
equal opportunity for all. www.f4capital.org
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SOURCE Female Founders Faster Forward