How social enterprise TechDiversity turns the spotlight on Australia’s DEI wins
The technology sector is the third largest contributor to Australia’s GDP, employing nearly 900,000. With a workforce that plays a significant role in the nation’s economy, there remains the challenge of not only growing its size to plug a looming talent gap but also ensuring its diversity to be truly reflective of Australian society today.
One advocacy group is helping to move the needle on resolving this challenge of diversity, equity and inclusion. TechDiversity, a social enterprise leading action and collaboration in Australia’s tech sector, is making sure companies that are striving to promote DEI in their workplaces receive the recognition they deserve. By raising models of effective programmes and policies, the group is able to put the DEI agenda front and centre of conversations – from the boardroom to the frontlines of business.
TechDiversity holds the annual TechDiversity Awards, which provides an avenue for sharing best practices and success stories. “Finalists and winners often share their strategies, which can serve as valuable insights for other organisations looking to improve their DEI initiatives,” Jen Murray of TechDiversity told People Matters.
“Last year, we received over 100 nominations, which has been the highest level of nominations ever received. The awards are most certainly increasing awareness and offering a platform for organisations who are still sitting on the fence in relation to leveraging DEI for real business success.”
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A tough climate for DEI
This commitment to greater DEI comes at a time when large enterprises in other industries, such as Goldman Sachs and PwC, are re-strategising with their diversity programs.
This month, Goldman Sachs “quietly ended” its US$1bn Launch with GS fund, which supports ventures led by women and people of colour. Meanwhile, PwC in the US said it is recalibrating scholarship programmes that initially had race-based eligibility requirements in light of a new Supreme Court ruling against affirmative action.
In a tough climate where access to capital and growth opportunities are limited and an economic downturn appears to be on the horizon, DEI programmes often become the first casualty of companies’ cost reduction strategies.
“Big tech companies have not been immune to this trend, and many have been forced to make difficult decisions about which positions to cut, with many laying off over 10% of their workforces,” said Gyles Whitnall, managing director at Foundations Executive Search in the UK.
“One particularly troubling consequence of these layoffs is the impact they are having on diversity, equity and inclusion (DEI) within these companies. For years, many Big Tech firms have made public commitments to increase the representation of underrepresented groups in their workforces spearheaded by the creation of DEI departments and the hiring of dedicated staff members to lead these efforts,” he said.
“However, with the current economic climate, some of these companies are finding it hard to justify the continued existence of these teams with DEI departments are often seen as cost centres rather than revenue generators.”
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Action over words
As for the current state of Australia's tech sector in terms of DEI progress, Murray believes progress has been made, but there is still work to be done.
“Australia's tech workforce has increasingly recognised the importance of diversity and inclusion, with many organisations actively pursuing initiatives to address imbalances in gender, ethnicity, and other dimensions of diversity. However, challenges persist, and more comprehensive efforts are needed to achieve full DEI. There is still room for improvement in terms of representation, inclusivity, and equitable opportunities within the tech sector,” she said.
For 2024, TechDiversity’s focus turns to the lasting impact of DEI on businesses, individuals, and society as a whole. “Our high-calibre speakers will delve into the ongoing journey of change, exploring how DE+I initiatives continue to reshape industries, empower individuals, and create a profound societal influence,” said Murray, who is inviting companies in Australia to submit their nominations to the TechDiversity Awards.
“Recognising and celebrating trailblazers, these awards are not just about conversation; they're about tangible change. In a sector where diversity is crucial yet often overlooked, TechDiversity stands as a testament to the power of action over words. By honouring organisations and individuals who turn DEI principles into reality, we're setting new standards and building technology workforces that truly reflect the vibrant diversity of Australia.”