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Why scaling tech firms with diversity matters

Similarity kills innovation. When team members are too alike, things can get missed and overlooked. Diverse teams win more often and more persistently. You can think of it like your firm is serving all customers, not just themselves.

So, why does scaling tech firms with diversity matter?

Consider your DEI Plans Continuously

If tech firms want to scale responsibility, diversity, equity and inclusion, it can't just be a side project. Your DEI should bring together your organisation's direction, from marketing, customer strategies through to talent acquisition, CSR, rewards and learning.

To set a direction, Create arrangements and generate commitments to DEI initiatives in the workplace to kickstart the process. Top leaders should take the plunge. Articulate their individual and collective perspective, values, and culture; consider how experiences of power and privilege may affect their approach. That of others; evaluate how dynamics of DEI may affect their marketplace and business strategy.

It's always good to remember that DEI initiatives are about more than just focusing on the figures. Employees’ perceptions of equity and inclusion are driven by organisational culture and the behaviour of leadership. Every DEI initiative should begin with an assessment of the organisation’s culture. 

Understanding Unconscious Bias

Unconscious bias is when we make a judgement/ decision based on our prior experiences, our own personal Deep-seated thought patterns. The majority of the time we will not be aware we are doing so.

Understanding unconscious bias is rooted in recognising it at the start, and accepting that unless it's addressed, it will be difficult to attract, hire and scale your company with a diverse workplace. 

What can HR leaders do to address unconscious bias in the workplace?

While HR cannot eliminate unconscious bias, they can definitely boost awareness within HR processes, employee relations and the workplace culture. 

Lead by example and look inwards

HR leaders can impact their work community by modelling the behaviour they want to see in the workplace. Treating others fairly by judging people and coworkers based on their characters and abilities. Not on their external appearance or physical traits, can set the scene for minimal bias.

Incorporate practical training. Bias is part of human nature. Yet, HR leaders can plan a training program that can encourage individuals to examine their natural instincts and determine whether their notions stem from solid reasoning or perceived stereotypes. The training can guide people in practising active listening, mindfulness, and treating each other as a unique individual.

Are you looking to scale up your tech team with diversity, check out our other blog.

The Absence of Diversity Prevents Innovation

When diversity is absent at the decision making table, teams risk being irrelevant to the customers and communities they wish to serve. Asking what/whose perspective are we missing or how are we mirroring the community and the consumers we want to serve? It helps teams recognise the lack of diversity as an opportunity. If there are perspectives missing or leadership is not representing those we want to serve, then there is an opportunity to get better.

Innovation. The lifeblood of progress and growth, thrives on diversity. When we bring together people from different backgrounds, cultures, and experiences, we unlock a world of creativity and potential. Unfortunately, the absence of diversity can act as a formidable roadblock to innovation. By limiting perspectives, stifling fresh ideas, and perpetuating narrow-mindedness, a lack of diversity hampers our ability to push boundaries and find ground-breaking solutions.

At the core of this issue lies the limitation of perspectives. When a group lacks diversity, it also lacks a variety of viewpoints and insights. Innovation requires us to look at problems from multiple angles, challenging the status quo and finding new paths forward. Without diverse voices at the table, ideas become stagnant, recycled, and devoid of the transformative power that comes from embracing different worldviews.

Better Talent Acquisition and Retention

In today's competitive business landscape, talent acquisition and retention are crucial for the success and growth of tech firms. One of the key reasons why scaling tech firms with diversity matters is the ability to attract and retain top talent. By fostering a diverse and inclusive work environment, companies can tap into a wider pool of candidates, ensuring they have access to a diverse range of skills, experiences, and perspectives.

When tech firms prioritise diversity, they send a clear message that they value and welcome individuals from different backgrounds. This inclusive approach not only attracts a more diverse applicant pool but also helps create a sense of belonging for employees. People want to work for organisations that respect and celebrate their unique identities, as it enhances their job satisfaction and overall engagement.

Meeting the Needs of Diverse Customers

Global marketplace diversity is not limited to the internal workforce of tech firms. Customers themselves come from diverse backgrounds, cultures, and demographics. Scaling tech firms that prioritise diversity are better positioned to understand and meet the needs of their diverse customer base.

A diverse workforce brings a range of perspectives and insights that can enhance the company's ability to develop products and services that resonate with different customer segments. By having employees who can relate to and understand the unique challenges and preferences of diverse customers, tech firms can tailor their offerings to better meet those needs.

So, for example a tech firm with a diverse team may have employees who have first-hand experience with specific cultural norms or preferences. This knowledge can help the company design products that are culturally sensitive and inclusive. It allows for the customisation of user experiences to accommodate different languages, accessibility requirements, or cultural nuances.

In conclusion, the importance of scaling tech firms with diversity cannot be overstated. Embracing diversity brings a multitude of benefits that will positively impact every aspect of your business. From enhanced creativity and innovation to improved decision making and risk management, diverse teams provide a competitive edge in the rapidly evolving tech landscape.

Scaling tech firms with diversity is a win-win situation. It enhances creativity, improves problem solving, expands market reach, attracts top talent, fosters customer satisfaction, and contributes to a more equitable society. Embracing diversity can help  companies unlock their full potential.
For more advice on how to scale up your company and learn more about diversity, get in touch with a member of the Scalability team! Call us on 0208 157 1710 or email us on [email protected]

A Proud
Chester: 01244 739 390     Manchester: 0161 394 1770    London: 0208 157 1710