by Samara Lynn
Originally published: February 15, 2017
Yes, we know diversity and inclusion in Silicon Valley is bad. However, a new study from OpenMIC shows the tech industry remains incessantly white and male, despite over a billion dollars invested to create a more diverse workforce.
The report shows a diverse company is a profitable company. Businesses in the top with more racial diversity among its staff have 35% higher financial returns that the “national median in their industry.” Analysts predict that a more diverse tech sector can generate an additional $300-$370 billion per year.
Companies are heeding these financial forecasts as well as calls for diversifying from politicians and thought leaders. The industry’s investment in diversity is estimated at $1.2 billion in the last five years.