It looks like some (most) parts of the tech industry have a culture problem. Tech companies go out of their way to show a happy & shiny face to the world. However, underneath this is undermined by some of their employees and bosses. We say some, rather than all – but the some can have a disproportionate effect on any business. Negative headlines can undo many months and years of carefully cultivating culture, whether it is the Uber CEO getting into an argument with one of his drivers, or Tesla failing to address sex discrimination.
There are other deep-rooted issues in tech firms, such as a lack of diversity. This can have long-term commercial implications for many companies. If your workforce is predominately white & male and drawn from the same narrow field of universities, there is every chance you will miss nuances in products, product development, and services simply because your frame of reference is so limited.
You Only Sell To Bros
If you employ a very distinct cohort, they, in turn, will employ more people in their image. There is a very real risk that this circle of events will tighten further. Your employees may well have the same views and refer to each other in both everyday and key decisions. Even when people are employed in key foreign markets there is a tendency towards centralised decision-making, so commercial decisions are referred back.
How To Benefit
So how as a business do you benefit from your competitor’s myopia? The simple answer is to employ, mentor, foster and promote the workers they do not employ or under-employ.
This should never be seen as a chance to hire on the cheap, quite the contrary – pay industry levels of pay and always do so, do not be tempted to go cut-price because people need work – all this leads to is a disgruntled workforce.
By offering a more diversified workforce the same benefits and opportunities your business will flourish. Not only will you have a better chance of making better products & services, but your products & services will also likely appeal to a broader customer base or have greater appeal in more territories.
Furthermore, gaining a reputation as a better employer will allow you to attract and retain more employees – dramatically reducing recruitment costs and reducing staff turnover. The greatest commercial weapon for any business is a secure and motivated workforce – particularly when your competitors are regularly going through embarrassing and distracting convulsions.