The Realities of Building an Inclusive Workforce

Innovators commonly agree that complacency is the sworn enemy of progress. Innovate or perish may seem a bit draconian, but the reality is history will favor the companies that were able to keep up with their time.

Diversity (or lack thereof) in the startup world has long been an issue, we know this. While there have been strides made in improving the discrepancy in representation, there is an increasing risk that these improvements are being misinterpreted and even ignore what we at Calculate view as more important to long-term success: Inclusion. 

Yes, having a diverse group will get a mosaic of perspectives in the room, but it will be difficult to reap the benefits of this diversity without providing specific avenues for expression. As an advisor, we encourage our clients to remain ambitious in not only increasing workforce diversity but also to offer a wholly inclusive workplace. Because it brings out greater financial performance for companies it is an absolute necessity in preparing your company for the future.

What do you think the workforce will look like in 10, 20 or 100 years? The days of monochromatic board rooms are surely numbered, but what does that look like in action? It is estimated that by 2044, groups formerly recognized as “minorities” (Asian-American, Hispanics and multicultural) will be the majority group. Another study states that by 2065 there will be no single racial or ethnic majority group in the USA. These projections by the Census Bureau and Pew Research Center imply that it will almost be impossible to not have a diverse employee population in the near future, fantastic!

Today, it seems to be generally assumed that companies are pressing towards greater heights in terms of diversity and inclusion. However, according to a Silicon Valley Bank study, only 26% of startups are actively trying to increase diversity in their management teams. Ignoring the increase in cash flows and profits having a diverse team can bring, it is also harmful to a company in the long term as well as the short term. If we knew that 20 years from now Windows computers would vanish from this planet, it is probably safe to say that more than 26% of startups would start practicing excel on a Mac. The companies that bring the same fervor to a changing workforce as they would to a changing computer system will be those who thrive.

To reiterate, the increase in diversity in the workforce is imminent, each company will soon, as they should, have employees with a wide array of life experiences. Diversity means little if the community is not sufficiently empowered to feel equal, valued and included by their peers. Those who learn to offer a wholly inclusive environment today will not have to play catch up later on and can reap the benefits of a more engaged workforce and greater revenue today.

You may not know where to start in becoming a wholly inclusive workplace, and that is okay. It is intimidating to knowingly have uncomfortable conversations that interrupt the ebbs and flow of the status quo. Think of the network effect, which examines how the utility and value of something increases as more people use it, like social media. Practicing inclusivity with your colleagues is included in this phenomenon. The more uncomfortable, and important, conversations you are willing to have with your diverse colleagues, the more willing others will be to do the same. It is important that you and your peers understand that this is a group effort that we will do together.

As the population becomes more and more diverse, institutions will have to become more and more inclusive. It is the companies that begin challenging themselves today to become both more diverse and inclusive that will be the strongest. To those who expect to be working in 20 years, I invite you to explore what it looks like to be wholly inclusive with me. I hope to provide you with guidance over a multi-post series on how we can learn more from one another.

Have a happy Black History Month.

This article was written by Marlon Primous.