Startups often come under pressure to grow their teams quickly to scale their business. In an industry like tech with a male-dominated talent pool, the urgency to grow teams could put diversity in the backseat.
The numbers are telling. Research from McKinsey & Company has shown that company profits and share performance can be as much as 50 per cent higher when women are well represented at the top.
I’d go as far as to say that a diverse and inclusive work environment is a critical building block for success. Fundamentally, most startups live by the ethos of building products and solutions that address existing gaps and challenges in their communities and society.
Thus, a startup team should be a microcosm of the communities it serves so it can better identify and solve crucial pain points. Teams without adequate female representation, for example, might not be able to empathise with and address the needs of half of their audience.
Not to mention, diversity of thought nurtures two key elements that fuel innovation, creativity and empathy.
Walking the talk: Where do we begin?
The business case is clear enough to see. But how exactly should aspiring founders and fresh startup teams build truly diverse and inclusive teams?
Firstly, recognise that diversity is a long-term investment. There are no shortcuts, only deliberate planning and nurturing to unleash the true potential of a diverse team.
It starts during the hiring process. Consider having a diverse slate of candidates and practising inclusive hiring to find the best person for the job. This includes well-qualified individuals who might be apprehensive about applying.
For instance, a survey by the Nanyang Technological University found that only 58 per cent of women who graduated with a STEM diploma or degree went on to work in a STEM field, compared to 70 per cent of men, despite expressing equal career interests around STEM jobs.
Also Read: International Women’s Day – Breaking the bias
Look beyond your usual talent pool, and connect with individuals that might have different educational qualifications and work experiences. Many core competencies, like problem-solving and effective communication, are transferable across sectors and especially valued in tech.
At Twilio, we have a dedicated Early in Career (EIC) team focused on recruiting talent from universities, colleges and non-traditional backgrounds. We expanded Hatch, our global apprenticeship programme, in India and sought to recruit first-generation STEM learners.
Putting your startup’s commitment to DEI in black and white can help instil accountability and equitable access in how the team grows. These commitments should be embedded in company-wide policies for consistency. In addition, maintaining healthy pay parity and providing promotion opportunities for all employees should be a given, regardless of gender or race.
Equally important is thoughtful engagement across leadership and employees to ensure that DEI becomes part of the culture’s DNA. I believe in cultivating a learning culture that encourages everyone to think and act more inclusively.
This can be accomplished in many ways. Employee resource groups (ERGs) can support, promote, and celebrate the shared life experiences of typically underrepresented and marginalised communities.
Organisations can also establish safe spaces for employees to come together and have vulnerable conversations about what’s happening in and out of the workplace.
While company-led initiatives are in need, contributions at the individual level matter just as much. We should hold ourselves accountable by taking the initiative to learn and reflect on our own biases and how they might show up in our personal and professional lives.
Measuring success
In measuring DEI, companies commonly report representative data to show transparency into their internal makeup. Unfortunately, this data is often used to prove whether or not a company is doing well.
Instead, startups should use data to examine how they can move these measures and improve. We call this our “move, not prove” philosophy at Twilio. We share our data for transparency, but as a team, we are more focused on how we can use this information to guide and refine our DEI programmes continuously.
Startups should also look into the full employee lifecycle, including hiring rates, promotions, comparative attrition, and representation, to get a fuller picture of where they stand.
Ultimately, founders need to recognise the value of building gender diverse teams as a matter of social obligation and as a mission-critical factor for business success.
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