intelligent
// FEATURE //
HE UK TECH INDUSTRY is
T booming , from AI start-ups to fast-building FinTechs . But the UK is still struggling to attract and retain a diverse workforce to power this level of innovation .
The data speaks for itself . A 2023 report by BlackRock found that companies with the most diverse workforces outperformed their country and industry group peers with the least-diverse workforces in terms of return on assets by 29 % per year , on average . Similarly , research from global non-profit , Catalyst , revealed organisations with inclusive cultures see a 59 % increase in innovation , creativity and openness . Imagine the untapped potential and the groundbreaking ideas waiting to be born from a wider range of perspectives .
Unfortunately , the current landscape presents significant obstacles . According to the Tech Talent Charter , only 9 % of tech workers come from lower socio-economic backgrounds . The lack of access and opportunity creates a substantial barrier to achieving true diversity in the industry . That said , some companies resort to performative DEI initiatives that offer the illusion of progress without addressing the systemic issues that hinder real inclusion .
By investing in DEI efforts today , SMEs can unlock the full potential of their workforce , drive innovation and build a competitive edge in the ever-evolving tech landscape . At Thoughtworks , we prioritise genuine , datadriven approaches and remain committed to dismantling barriers to foster a culture of equity and belonging .
Mind the gender gap : a persistent challenge
Studies by Deloitte Global show that companies with strong gender diversity have a significant profitability advantage ( 21 % higher ). The tech sector , however , struggles to achieve this diversity . According to analysis from BCS : the Chartered Institute of IT , in the last quarter of 2020 women made up 19 % of the UK IT industry . This lack of representation not only hinders innovation but also perpetuates a culture that discourages women from pursuing tech careers . Here at Thoughtworks , over 40 % of our tech roles are occupied by women or gender diverse
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THE LACK OF ACCESS AND OPPORTUNITY CREATES A SUBSTANTIAL BARRIER TO ACHIEVING TRUE DIVERSITY IN THE INDUSTRY .
Intelligent SME . tech 29
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