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February 2018

Silicon Valley Companies Working to Improve Diversity and Inclusivity

Don't Believe Secondhand Rumors: The Truth About Outplacement Services

Silicon Valley has been a tremendously successful tech hub for the last about a decade. Google, Facebook, Uber, and dozens of other popular companies all began as Silicon Valley startups and eventually grew to enjoy worldwide success. In recent years, however, an unflattering light has been cast down on this tech hub as being discriminatory towards women and people of color.

Despite McKinsey Global Institute (MGI) research showing that gender-diverse companies are 15% more likely to outperform their peers and ethically-diverse companies are 35% more likely to outperform similar companies, Silicon Valley has been overwhelmingly dominated by white males.

The Ascend Foundation released a new study that shows Silicon Valley's minimal effort to improve diversity and inclusion among its workforce.

"When we used the Executive Party Index to compare the numbers of minorities as executives to their numbers in the workforce, it was clear that that efforts to promote more Asians, Blacks, and Hispanics have made no meaningful impact to the minority glass ceiling," said Buck Gee, former vice president at Cisco Systems and study co-author. "That said, we progress made by white women, so we know tech companies can change. Now it’s time to do the same for minority men and women."

Although working with quality and experienced HR executive search consultants can help these tech companies improve their workforce diversity, simply hiring more women of color and providing internal promotion opportunities to these women will undoubtedly improve company inclusion and workforce morale.

According to Digital Trends, a new venture capital community called The Help is hoping to improve diversity within the tech sector.

The Help is a company that offers seed-round funding to female founders in the tech industry. Dedicated to spend $2 million this year in hopes of making the pipeline of capital available to women in tech. Currently, female founders earn just 2.5% of all venture capital dollars in the United States.

"The Helm wholly addresses two distinct problems at both ends of the VC spectrum by rethinking the role of community as a driver of investment capital. By expanding access to unbiased capital we aim to create a long-needed shift in the culture of startups, technology, and innovation -- a space that critically needs women to help shape its future," said Lindsey Taylor Wood, CEO of The Helm.

Though Silicon valley needs to improve its workplace culture, there are organizations all over the country that are working with HR executive search consultants to find qualified candidates for various positions. If you want to get in touch with experienced HR executive search consultants and improve your own company, contact Frederickson Partners today.