How can Tech Companies Embrace Equity in the Workplace?
Diversity, Equity, and Inclusion are the three core elements of team resilience and the key to accelerating the Industry. It is reported that in 2021, US businesses spent, on average $8 billion per year for DEI training, and hiring diverse talent has been at the forefront of recruitment conversation.
Yet, 68% of young employees feel a lack of support from managers considering their diverse backgrounds (gender, socio-economical, and neurodevelopmental aspects).
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Many companies are focused on driving Diversity and Inclusivity but what about Equity?
Embracing equity and inclusivity goes beyond diversity programs. In order to truly embrace equity in the workplace, people need to understand the meaning of achieving equity and how to apply it.
Equity recognizes that each person has different circumstances and allocates the exact resources and opportunities needed to reach an equal outcome.
It's about giving something in line with individual needs so that everyone can be successful.
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Women and people of color are underrepresented in tech - and there has long been a call to action to encourage more women to enter tech and STEM, yet with little effort from companies.
In celebration of International Women's Day 2023 – we are embracing equity and encouraging companies to take action.
There are many ways that tech companies can start to embrace equity in the workplace:
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Eliminate gender pay disparity by encouraging wage transparency in the workplace. 63% of the time , men are offered higher salaries than women, as the wage gap for Black and Hispanic women continues to expand in tech.
Compassion is key to understanding and openness. As stated in the data above, there is a need for employers to listen to under-represented groups and provide specific support. Have regular 1-1 meetings, implement anonymous surveys to maintain team well-being, and consider setting up Employee Resource Groups. ?
Encourage easier access for underrepresented talent to enter the workforce by auditing and revising your job adverts and interview process to ensure you are providing an equitable opportunity for all.
Offer flexibility policies for employees with other responsibilities such as primary caregiver and elder care. Implement a scheme that allows remote working and flexible working hours.
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At Engtal, we continuously support companies in their diversity, equity, and inclusion efforts.
We support DEI hiring strategies with our initiative – Diversify the Future Foundation. For every diverse candidate that Engtal places, we l donate a minimum of $1000 to fund STEM scholarships.
Be part of our mission – contact our team at [email protected].