Yet tech suffers from quite an imbalance when it comes to another kind of diversity: among employees themselves. Often there is a clear lack of women or gender diverse identities in technology companies, a problem not only for HR’s employee statistics but for the company’s bottom line. According to a five-year Morgan Stanley report, highly gender diverse tech companies returned an average 5.4% higher profit each year than the average yearly returns of their less gender diverse peers.
Are diverse teams really more innovative? Can diversity be something more than just a legal requirement? Most importantly, do gender diverse tech companies actually gain a real competitive advantage? BCG’s Rocío Lorenzo certainly thinks so—and the research backs this up.
Lorenzo advises telecommunication and media companies on their strategy and how to transform their businesses in times of digital disruption. She has been involved in an ongoing collaboration with the Technical University of Munich researching hundreds of companies in Germany, Austria and Switzerland based on their innovation and diversity. The aim of the project is to find out once and for all if diversity really is a help or a hindrance.
To measure innovation, companies were asked to share their revenues from new products and services in the last three years. To measure diversity, they looked at six different factors: gender, country of origin, age, education level, career, and industry.
Lorenzo’s data shows that gender diversity can have a direct, positive impact on the quality and consistency of innovation within a company, but only if two conditions are met: Companies need to have more than 20 per cent women in leadership positions, as well as a gender diverse workforce.
With companies like SAP already consciously exceeding this 20% minimum and pledging to achieve even greater gender diversity, it’s time every tech company put some effort into reassessing how they hire and who they promote. When successful innovation can be so clearly linked to diversity, it boils down to this: If you want to promote financially lucrative innovation—hire more women.
At Signavio, our intention is to do that. We are currently expanding across all regions and teams, with 26 new jobs posted on our jobs page. Signavio offers an exciting and constantly evolving working environment, and is ranked as one of Berlin’s favorite employers.
Signavio faces similar challenges to other companies in the tech sector. We are aware of this and determined to do better. As well as being a flexible and supportive employer, it’s important for us to actively seek out talented women—which is one of the reasons why we host meet-ups especially for women in tech, and why Signavio attends career fairs especially for women—for example, herCAREER.
Helene Grimm, Head of HR
We offer flexible working hours, with the opportunity to regularly work from home. We invest in our team, and that doesn’t just apply to full-time senior staff, but to working students and interns too. If you want to know more about paid-for lunches, team events, weekly office yoga, and free German classes, drop us a line at email@example.com.
Haven’t found exactly the role you’re looking for on our job page but think you’ve got what it takes? We also take open applications and are always looking for applicants who bring us skills we didn’t realize we needed—in fact, the writer of this post did just that.
If Signavio sounds like a good fit for you, then drop us an application. We can’t wait to hear from you!