CHICAGO /PRNewswire/ — Built In, a software platform designed for tech professionals, today released its annual report about the state of DEI in the technology industry, which surveyed technology professionals and employers.
In keeping with findings from the three consecutive years of producing the report, this survey shows the tech industry has work to do to improve its DEI outcomes. Findings show more than half (51 percent) of employees feel their company either needs to improve on DEI or is making a very poor effort. One reason for this lack of positive change is that 30 percent of the tech companies we surveyed stated DEI is not at all vital to the overall success of their company.
Almost half of surveyed employees and employers believe resistance to improving diversity efforts is rooted in not seeing the value of diversity, as well as this mindset: “Things were going just fine before; why change?” Of those who note this resistance, 40 percent say it stems from not wanting to pull resources, time or energy from other parts of the business.
“Certainly companies need to be strategic about resource allocation,” says Sheridan Orr, Chief Marketing Officer, Built In. “But they can’t afford to take a short-sighted approach in determining where or whether to direct resources to DEI. For more than a decade, study after study has shown diverse companies outperform other companies. Moreover, the next generation of candidates, the people we need to innovate, are increasingly intolerant of companies that neglect DEI. Only companies that invest meaningfully in DEI, making a long-term commitment to creating inclusive cultures and dismantling systemic discrimination, stand to reap rewards from an innovation and revenue perspective — but, most importantly, from a human and historic perspective.”
The state of DEI in tech is also marked by a misalignment between employees and organizations. Tech employers say they feel they are doing a good job at providing equal opportunities for all employees, but professionals disagree. When asking workers to rank statements about their workplace experience, this came in last place: “I have just as many opportunities to secure promotions and better pay in their organization as others in their company.”
If tech companies want to retain and recruit top talent, they make good on the DEI promises they made as far back as 2020. A majority of tech professionals (77 percent) stated they want to work for an organization where they feel respected and valued by their peers and managers, and 38 percent of candidates prioritize applying for jobs at companies who offer wage transparency and equitable pay.
Employers also shared factors that made their past DEI investments a success (or not): budget and employee buy-in are critical. No initiative will succeed without its full-scale adoption by your entire workforce. Companies indicated it’s a team effort between leadership, employee resource groups (ERGs) and their entire workforce to make DEI investments happen.
To read the report, download it here.