It’s no secret that technology has long lacked diversity. White people comprise 83% of tech-sector executive roles — more than Asian Americans (10.6% to 19.5%), Hispanics (3.1% to 5.3%), African Americans (2% to 5.3%) and other minority groups, according to the Equal Employment Opportunity Commission. Tech business leaders have a great opportunity to recognize the value of inclusion and prioritize efforts for greater diversity.
Companies that embrace diversity in terms of gender, ethnicity and race are often more creative, innovative and profitable. McKinsey & Company recently examined more than 1,000 companies across 12 countries and found that firms in the top quartile for gender diversity are 21% more likely to experience above-average profitability than those in the bottom quartile. Additionally, companies in the top quartile for ethnic diversity are 33% more likely to score more profits than those in the lowest quartile.