Market Intelligence Live: Promoting diversity in tech a 'no-brainer'

The pandemic has forced many businesses to take a hard look at what steps are needed to promote a more diverse and inclusive workplace, according to executives interviewed during the latest episode of Market Intelligence Live, an interview series from S&P Global Market Intelligence.

Speaking during the June 15 virtual event, S&P Global Market Intelligence Global Head of News and Research Sarah Cottle and 451 Research Director for the Cloud and Managed Services Transformation Melanie Posey said the digital transformation spurred by COVID-19 underscores the need for technology companies large and small to develop more programs geared toward recruiting and developing diverse talent — including women and underrepresented racial and ethnic groups. Failing to do so, they said, will not only negatively impact companies' ability to attract and retain top employees, but could also prove detrimental to their bottom lines. 451 Research is part of S&P Global Market Intelligence.

"Not having these programs in place will cost you more in the long run than what it costs you to put them in place," Posey said.

Citing a recent Voice of the Enterprise survey by 451 Research, Posey noted that women remain proportionally underrepresented in IT organizations, especially in leadership positions. But the survey also pointed out that women have become better represented in transformation-centric IT roles, including application management and application development, as businesses and consumers rush to adopt many technologies dictated by the pandemic.

Posey during the June 15 event said digital leaders are "significantly more likely" than their counterparts to explore ways to expand female leadership in their organizations, calling the link between digital advancement and diversity and inclusion a "linear relationship."

Cottle said the push toward remote work makes it even more crucial for companies to seek out additional ways to help minority groups find their voice and achieve leadership positions.

"When we talk about the value of diversity, equity and inclusion ... it's just a no-brainer in terms of making the business successful," Cottle said. "When people, from all groups, feel that they belong, feel that their concerns are being taken seriously, that is when we see people at their best, at their most creative, at their most dynamic, for finding solutions for our customers."

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To access the Voice of the Enterprise: Digital Pulse, Diversity & Inclusion 2021 report mentioned above, please contact 451ClientServices@spglobal.com.