“Innovation is crucial for any tech company and diversity plays a significant role in this.”
– Sanjay Malhotra, co-founder and CTO of Clearbridge Mobile.
Companies that truly embrace diversity are also reaping rewards. A recent study done by Harvard Business Review found diverse companies, especially in leadership and management roles, are 70% more likely to capture new markets and 45% more likely to attain market growth. 69% of executives in a Glassdoor survey saw diversity and inclusivity in the workplace as a high-priority issue.
But diversity should go beyond race or gender, argues Meetesh Karia, CTO and Chief Data Officer of The Zebra. “It’s about background, perspective, age, education, and so much more.” Diverse backgrounds, upbringings, and cultures bring new ideas which in turn boost productivity, innovation, and morale. “Diverse teams who work cohesively encourage new ways of thinking and problem solving,” said Ofer Garnett, CTO and co-founder of YouAPPi Inc.
Generational diversity should fall under a company’s diversity strategy, as one’s background and upbringing are often influenced heavily by the generation in which they grew up. Each generation in today’s workforce brings different values, beliefs, and worldviews with them that influence how they work, view authority, respond to change, and communicate. Therefore, it is important to understand these differences to not only attract employees of varying generations but also retain them.
RELATED POST: Attaining Career Durability Through a Diverse Tech Portfolio
Sourcing our youngest workers
Born after 1996, Generation Z is the second-fastest growing generation in the workforce. They are the first truly digital generation, and theirs is the most globally connected world in history, where ideas and thoughts can be shared with virtually anyone from anywhere.
This means Gen Z embraces technological advancements and is adaptable in a demanding environment. They value communication and expect feedback from their managers regularly. A study by The Center for Generational Kinetics found that 60% want constructive communication with their managers at least a few times a week, with 40% of those wanting it daily. And, interestingly enough, they want the communication to be face-to-face. Through constructive communication, they do not simply want to know they are doing a good job, they want to know where they can improve and how they can learn new skills.
The same CGK study found that Gen Z prefers managers from prior generations rather than someone from their own. They value generational knowledge, and most want a manager that is also a mentor.
Employers looking to recruit a