-Sheryl Sandberg, COO of Facebook
“We need women at all levels, including the top, to change the dynamic, reshape the conversation, to make sure women’s voices are heard and heeded, not overlooked and ignored.”
A recent law in California stipulates that all publicly traded companies in the state must have at least one female board of directors member. The hope is that this will both increase female representation on boards of directors, but also change the perception of how people view women as candidates for these roles. The implications of this legislation are also supported by empirical research: a 2009 research study Powerful Women: Does Exposure Reduce Bias? examined the impact on female leadership quotas in Indian villages. The researchers found that after ten years of these quotas it was more likely for women to both run in and win elections.
Diversity will also leads to a better bottom line. A 2018 BCG report showed that companies with above average diversity on their management teams reported innovation revenue of 19% more than average.
Whether we are talking about how black workers are underrepresented in Silicon Valley, underrepresentation among women in leadership roles, or how men are less likely to be in healthcare and early childhood professions, these disparities make it less likely for certain groups to see themselves in particular roles. On top of this, because people don’t see certain groups in these roles, they tend to believe it is because they can’t be effective. While legislation like that in California is a start, companies and other organizations must lead the the charge in combating bias.
Organizations must proactively hire, promote, and appoint more underrepresented individuals. Inclusive hiring and talent management takes a true organizational effort and is not something that can simply be relegated to diversity initiatives. Diversity and inclusion must be part of the DNA of every organization.
AI technology removes the subjectivity of human arbiters and allows objective AI to identify authentic talent, free of bias. Knack is at the forefront of this technology, as our predictive algorithms are intentionally designed to eliminate bias according to gender, age, race, and ethnicity. Remember, inclusive hiring is not only the right thing to do, it also pays off.
Want to learn more about how Knack has powered inclusive hiring?
Check out how Shell created an inclusive innovation pipeline.