The tech industry spends up to $16 billion annually on systematic bias and mistreatment costs, according to a 2017 Kapor Center report. These costs at exploring company diversity, however, don’t necessarily lead to progress. Here are the main points that such companies overlook in their pursuit of greater diversity.
Misconceptions of Turnkey Solutions for Diversity
Diversity and inclusion are goals that can make an enterprise more in touch with its market and the world beyond, leading to greater success. It’s easy to see why companies want to be known as diverse since it helps boost their global image. At the same time, it’s not an easy goal to achieve, since the nature of diversity is much more complex than just matching demographics based on census data.
Some firms invest in fellowships as an attempt to help minorities, but this strategy only leads to progress if participants find full-time work. In other words, throwing money at problems doesn’t always lead to solutions. A more reliable approach is finding minorities that are active in their communities.
Misconceptions About Winners and Losers
One of the major myths surrounding diversity is that one group’s gain is another gain’s loss. This limited view should be replaced with the idea that everyone can win. In the world of advertising, the key is to reach a specific target market, which can be blurred when trying to force diversity into the equation. A marketing team and its brand ambassadors need to reflect the population that will buy the product.
Misconceptions on Goals of Diverse Workplaces
A diverse workplace brings a lot of power to an organization, allowing it to grow in different directions. But companies that think all it takes to achieve diversity is to have a diverse staff are mistaken. The bigger focus should be on the combination of employees, customers, suppliers and decision-makers.
Diversity and inclusion should be treated as core business practices from the beginning. Diversity goals should be reflective of individual contributions and performance. In other words, all individuals, regardless of background, are unique by nature. A company needs to constantly find ways to broaden diversity, not just with the hiring process. Ultimately, success at diversity and inclusion is less of a numbers game and more of an ongoing commitment to open-minded decision making that allows for increased diversity and inclusion.
