Remember January 2024? That’s when I participated in a panel at the HFM Future of Fund Tech Summit, discussing “Strengthening your technology team through diversity.” While prepping, I uncovered fascinating research... but it never saw the light of day! The panel went in a different direction. It’s a shame because this info is gold for anyone building a diverse tech team. Want a peek? Keep reading...
I have shared some additional material with readers already.
The conversation naturally shifted during the panel discussion, which proved incredibly insightful. However, I didn’t want these initial four key areas I prepared – exploring building diverse tech teams – to be forgotten. I’m sharing them with you today as they still offer valuable perspectives.
1. Key Barriers for Underrepresented Groups in Tech:
Limited Talent Pipeline: Lack of early exposure to STEM fields through education, role models, and mentorship opportunities.
Unconscious Bias: Biases in recruitment, promotion, and performance evaluations leading to unfair disadvantages.
Homogenous Company Culture: Cultures that feel unwelcoming or exclusive to individuals from different backgrounds and experiences.
Lack of Support Networks: Insufficient access to mentors, sponsors, and career development resources within the industry.
Microaggressions and Exclusion: Unintentional or intentional behaviours that create hostile or uncomfortable work environments.
2. Mitigating Challenges for Fund Managers:
Proactive Outreach: Partner with diverse universities, colleges, and tech boot camps to attract talent from broader pools.
Blind Hiring Processes: Implement anonymised resumes and skills-based tests to reduce unconscious bias during candidate selection.
Targeted Mentorship Programs: Create mentorship and sponsorship programs connecting underrepresented talent with experienced leaders.
Diversity & Inclusion Training: Develop mandatory training programs for all employees to address unconscious bias and create inclusive workplaces.
Invest in Employee Resource Groups (ERGs): Support ERGs for different underrepresented groups to foster community and belonging.
3. Using Technology to Combat Bias in Hiring:
AI-powered Recruitment Tools: Utilise tools that analyse skills and qualifications rather than traditional resumes, mitigating bias based on factors like name or university.
Structured Interview Processes: Implement standardised interview questions and rubrics to reduce subjectivity and opportunities for bias.
Diversity Dashboards and Analytics: Track hiring and promotion data to identify and address any disparities or biases in decision-making.
4. Importance of Culture and Facilitating Change:
Leadership Commitment: Visible and vocal commitment to diversity and inclusion from top leadership sets the tone for the entire organisation.
Inclusive Language and Policies: Review company policies and communication to ensure inclusive language and remove exclusionary practices.
Celebration of Diversity: Actively celebrate and highlight the contributions of diverse employees in meetings, events, and internal channels.
Psychological Safety: Foster a culture where employees feel comfortable expressing their perspectives and concerns without fear of reprisal.
Regular Feedback and Measurement: Conduct regular audits of company culture and diversity initiatives to identify areas for improvement.
With over 25 years of dedicated leadership in the corporate, feminist, and LGBTQ+ realms, with a profound commitment to LGBTQ+ and women’s rights, I’m thrilled to be recognised by the British Diversity Awards. I stand ready to support, consult, educate, and advise on your next gender diversity challenge. Your journey towards inclusivity begins with a conversation. Reach out to me at cynthiafortlage@cynthiafortlage.com with any inquiries.