1 In 2 CEOs Admit Their Companies Are Behind On Diversity

Business leaders have acknowledged that their companies are lagging behind in their diversity efforts, according to a new report by The IN Group.

The “UNLOCKED: Tech and the Boardroom” report surveyed 705 C-level executives in the UK, US, Germany and Netherlands.

In today’s competitive business environment, diversity, equity, and inclusion (DEI) have become critical components of organizational success, however companies are falling behind.

We’re falling behind, Say C-level execs

In the report, 3 in 4 (76%) respondents confirmed that they have a diversity and inclusion strategy in place when it comes to hiring technology talent into the business.

However, almost 2 in 5 (40%) companies admitted to falling behind as a whole in terms of diversity.

The US was the most concerned about this issue, where half (48%) of C-level executives and over half (52%) of CEOs felt their organization was falling behind on diversity.

Overall, the general sentiment within the group was that diversity initiatives are ‘getting there’ but there’s still more to be done on the journey to increase diversity as it remains a focus across all organizations.

“The findings of the survey also address the challenges of diversity in tech recruitment. Despite successes in strategy implementation for tech talent recruitment, there remains a notable percentage of executives who believe their companies are falling behind in fostering a diverse workforce,” said Prof Alexeis Garcia Perez.

“This disconnect points to the complexities of implementing effective diversity and inclusion policies and the need for more focused efforts in this area.”

Strategies for Enhancing Diversity

To implement and retain a diverse workforce, the report states that firstly, companies must assess and revise their hiring practices to eliminate biases. 

This involves utilizing diverse hiring panels, leveraging technology to screen candidates fairly, and fostering an inclusive workplace culture that supports all employees. 

Furthermore, companies should offer mentorship programs and career development opportunities specifically designed to support underrepresented groups in tech.

It’s crucial for companies to establish clear DEI goals, regularly measure their progress, and hold leadership accountable. 

Involving tech leaders in DEI initiatives can also be beneficial. More than 3 in 5 (63%) business leaders in the “UNLOCKED” report noted that their tech leaders report directly to the CEO, highlighting the influence these leaders can wield in driving DEI efforts.

Feature Image Credit: Executive Network