“After publicly setting diversity goals in 2015, Pinterest, for example, boosted hiring rates of underrepresented people of color by 8 percentage points for technical roles and 5 percentage points for non-technical roles.
The American tech industry remains a bastion of white, male privilege.
Even a cursory look at voluntary disclosures to the Equal Employment Opportunity Commission by American tech firms reveals huge racial disparities in the tech workforce compared to the private sector overall.
Adobe’s workforce is 69 percent white and Apple’s 56 percent. Google? 59 percent. Microsoft? 58 percent. The list goes on. Black people, Latinos, and Native Americans are underrepresented in tech by 16 to 18 percentage points compared with their presence in the US labor force overall.
Tech companies and investors should be concerned: Evidence strongly suggests that a racially diverse tech sector could translate into stronger financial performance. A McKinsey report showed a linear relationship between racial and ethnic diversity and a company’s financial performance. “For every 10 percent increase in racial and ethnic diversity on the senior-executive team,” the report stated, “earnings before interest and taxes (EBIT) rise 0.8 percent.”