Diversity & Inclusion in Tech 2018

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Diversity & Inclusion in Tech 2018 Diversity & Inclusion in Tech A Practical Guide for Entrepreneurs 2018 Contents FOREWORD 3 INTRODUCTION 8 THE GUIDE 15 Understanding bias and building consensus 16 Planning your D&I strategy 26 Building and implementing 36 Diverse and inclusive hiring 37 Creating an inclusive workplace 43 Creating inclusive products and services 47 Case studies 54 Tools and resources 66 METHODOLOGY & GLOSSARY 71 CONTRIBUTORS 72 2 | Diversity & Inclusion in Tech Foreword Diversity & Inclusion in Tech Niklas Zennström FOUNDING PARTNER AND CEO AT ATOMICO 2018 has been an enormous year for The environment is not changing fast the global technology ecosystem, enough. 93% of capital invested in with new initiatives, companies and European companies this year went to technologies emerging that truly all-male founding teams. We cannot have the potential to change the measure the imbalance in funding world. Karma raised its Series A to allocated to other underrepresented continue its fight against food waste; communities, but those figures would Zinc, the company builder solving certainly be tough reading also. Venture the developed world’s toughest investment has the privilege of granting social issues, launched its second companies runway with which to mission to help people hit hardest build the future. It is a scary thought, by automation and globalisation; particularly as technology’s impact on Zola, The RealReal, 23andMe and humanity accelerates, that this future ClassPass raised some of the largest is in the hands of an undiverse minority. funding rounds of 2018; Stitch Fix stock is currently up 80% since At the root of this culture are its IPO last November; the first long-standing, deeply entrenched CRISPR clinical trial began in Europe stereotypes and misconceptions sewn for people with blood disorders; into the fibres of tech over 40 years Entrepreneur First expanded into ago. We cannot shy away from how Berlin and Paris… There is so much to difficult it will be to turn this tide, but be excited by. with initiatives like this guide we can become increasingly conscious of The common thread connecting each the forces that hinder us, and equip of the companies above is that they ourselves with the practical skills and all have female founders. This was not mindfulness needed to allay them. intended to shock or amaze. Such a range of achievements - from running It is difficult to quantify how much talent public companies, to developing life- and value has evaporated away from our changing biotechnology, to hyper- industry because of diversity inertia. scaling tech businesses - can be Only once people of all backgrounds, expected of any high achievers. Yet abilities, and perspectives feel safe and the reality today is that these women confident to participate will we truly are an exception to the rule. Other realise the potential we are collectively underrepresented groups - minorities capable of. I am confident that there are across race, class, education, sexual a majority of good souls out there who orientation, self-identification, and are aligned to win and engaged to make a physical and cognitive ability - are still difference. Together, we can cultivate an not even a small part of the overall environment that equalises opportunity narrative, sadly. and accelerates outcomes for all. 3 | Diversity & Inclusion in Tech Francesca Warner CO-FOUNDER AND CEO AT DIVERSITY VC The uncomfortable truth is that This practical guide2 is intended the technology industry today is to help anyone leading, working or not a place in which everyone, investing in technology companies of any gender, race, disability, promote diversity and inclusion in their religion, sexuality, socio-economic businesses. It’s not a silver bullet and background, can thrive and succeed. there is no ‘one-size-fits-all’ solution. This is one of the most significant Instead, this guide is intended to challenges we face, and the increase understanding of the complex damaging impact of excluding so and nuanced subject of diversity and much talent compounds with each inclusion in business more fully. It’s year that passes. also intended to be a living resource for founders to continue to add to as At the current rate of progress, it they create and discover new answers will take hundreds of years to reach (at www.inclusionintech.com). As an a point where women get an equal investor in very early stage companies share of funding to men. Less than and running a small organisation myself, 0.2% of funding is raised by women I understand that implementing best of colour in the US, and we have no practice isn’t always straightforward. idea how many LGBTQ+ or founders However, this resource should make with disabilities there are in the it easier to make a start. I hope it tech industry, as this has yet to be prompts thinking and initiates progress measured at scale. in advancing diversity and inclusion in tech, which will further our collective Technology, and the architects of understanding as an industry as to how that technology, have tackled some to enact continuous positive change. of the world’s biggest problems: they’ve helped eliminate diseases, Creating this toolkit has been a and even landed robots on Mars. collective effort. It draws on the work of By connecting people all over the VC Toolkit created by 10 Diversity VC the world, technology has helped volunteers and contributors published to disseminate education and earlier this year. I’d like to thank all the increased our understanding of people who have volunteered their one another as human beings. I’m time and expertise; we are extremely convinced that together, and in grateful for the contributions from spite of the challenge facing us, we everyone who took part. can tackle the lack of diversity and inclusion in our companies. 1 British Business Bank, Diversity VC & BVCA Study, 2018 2 This guide is part of the wider body of work at Diversity VC, a non-profit group co-founded by a group of individuals in 2017 who work in the VC industry. Our mission is to promote diversity and inclusion in the tech and venture capital industries. 4 | Diversity & Inclusion in Tech Creating a fair and inclusive workplace in the tech industry There are clear business benefits to meet your business requirements a diverse and inclusive workplace. and successfully achieve your It promotes staff loyalty, efficiency, objectives can be a challenge. creative output, and attractiveness However, by clearly managing and to new talent to name but a few communicating expectations, examples. When you combine these obtaining buy-in and resource, or factors together, we frequently see simply getting your colleagues and Dr Victoria Bernath that diversity and inclusion leads to employees excited and on board can Editor-in-Chief, enhanced performance. Indeed, recent all impact the long-term success of Diversity VC research shows us that companies in your D&I strategy. Get it right, and a the top quartile for gender and racial D&I policy could transform how your diversity perform better financially,1 business collaborates or works. and inclusive workplaces are proven to attract and retain the brightest talent,2 Whether you already have a fully- as well as demonstrate improved formed strategy, or you’re thinking channels of communication and about D&I for the first time, this improved social capital.3 simple guide will help you to plan, deploy, monitor and improve your When successful, Diversity & Inclusion strategy – for tech companies big and strategies are proven to bring real small. bottom-line benefits to business; whether by improving efficiency, increasing productivity, driving employee engagement, or shaping an outstanding employee experience in an age of fast-growth and continuous innovation. Creating a D&I strategy that will 1 Hunt, V et al. Why Diversity Matters. McKinsey and Company: Our Insights (January 2015), accessed on October 01, 2018. 2 Keller, S et al. Attracting and retaining the right talent. McKinsey and Company: Our Insights (November 2017), accessed on October 01, 2018. 3 Heffernan, M. The secret ingredient that makes some teams better than others. Ideas. Ted.Com (May 05, 2015), accessed on October 01, 2018. 1 British Business Bank, Diversity VC & BVCA Study, 2018 2 This guide is part of the wider body of work at Diversity VC, a non-profit group co-founded by a group of individuals in 2017 who work in the VC industry. Our mission is to promote diversity and inclusion in the tech and venture capital industries. 5 | Diversity & Inclusion in Tech Summary Diversity & Inclusion in Tech Overview An overview to understanding, UNDERSTANDING BIAS AND BUILDING CONSENSUS planning and implementing new D&I strategies. Start by learning about bias Evaluate all aspects of your workplace (including any Educate yourself and actively engage existing D&I strategies) with the topic of bias. As a start, try watching Facebook and Google You can evaluate your workplace Ventures’ videos on bias. through discussion groups, surveys and perhaps independent Educate others about bias consultants. Share this guide, or run bias training Write a Diversity & Inclusion within your firm. For small companies, document you may involve you entire office Use the document to write down from the start; for larger companies company values, expected outcomes this might be a small, core team of of a D&I strategy and projected stakeholders. Do note that not all bias timeline. training is created equal - read this guide and choose carefully. PLANNING YOUR D&I STRATEGY Map out communities within Give each community ‘ownership’ in your company contributing to their own D&I strategy Your communities might be groups Ownership could be obtained through with the same social situation (e.g. surveys, or setting up voluntary employees with kids) or specific ‘task forces’.
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