Cyferd’s Strategy to highlight equality and diversity in tech.
Despite its focus on innovation, the technology industry still struggles with diversity. Despite the digital economy having a worldwide impact––research from Accenture and Oxford Economics estimates that it makes up 22.5% of Global GDP––women in technology are severely underrepresented. Research by PwC found that only 5% of leadership positions in technology companies are held by women, while the Guardian suggests that women make up just 17% of IT specialists in the UK.
UK company Diversity in Tech states that the technology industry is growing almost 3 times faster than the whole economy and is contributing around £200 billion a year to the economy, making it critical for companies to improve their inclusion approaches.
Women often leave tech companies earlier than men, in part due to being more actively discriminated against. A report from Harvard Business Review even suggests that tools used in workplaces to combat inequality, such as unconscious bias training, can even exacerbate unconscious bias itself. Additionally, the COVID-19 pandemic has exacerbated gender inequalities in the workforce, as many women were forced to shoulder the burden of childcare.
When you consider ethnic diversity factors, the statistics are simultaneously bleak––currently, only around 4% of the entire UK tech workforce identify as BAME (Black, Asian and minority ethnic), and 74.5% of boards in the UK tech sector had no BAME members. Meanwhile, a report from Builtin found that Black and Hispanic women were less likely to be hired into tech roles than their white counterparts. These numbers point towards major changes that need to occur for diversity in tech, and a mass overhaul of current inclusion practices within the tech sector.
Ranjit Bahia, the CEO of Cyferd, recognizes that current practices need to change, and notes that equality of opportunity is integral to Cyferd’s business operations. ‘Creating visionary companies require diverse thought,’ Ranjit notes. For him, diversity in tech has never been simply a box to tick off for promotional purposes. ‘Everyone deserves an opportunity and even more to work in an environment that’s free from discrimination.’
Bahia states that equality has always been integral for Cyferd, noting that Cyferd actively works to hire female developers and champion female voices. As of October 2021, 38% of Cyferd employees identified as female, and that number is set to increase by the end of the month. Cyferd is currently working on a company-wide diversity project that will improve monitoring and responsibility on diverse hiring and equality of access, citing a commitment to transparency and accountability above all things as a driver.
‘A diverse workforce is absolutely necessary to build and sustain a collaborative environment,’ adds Anne-Louise Bee, Chief Operating Officer at Cyferd. Bee is right; research shows that diverse and inclusive companies are more innovative––a necessary component for any company in the tech sector. Bee notes that diversity in technology leadership positions is a top priority for Cyferd’s recruitment team, and constantly looks to innovate new avenues for sourcing diverse talent. Cyferd constantly looks toward the future; as the company grows, so will its impact on diversity in the tech sector.
Learn more about Cyferd’s diversity & inclusion here.