In an era where diversity, equity, and inclusivity (DEI) are increasingly recognised as essential pillars of success, the global telecommunications industry stands at the forefront of embracing these principles.

As the tech sector undergoes rapid transformation and innovation, prioritising diverse talent acquisition has become paramount for leading companies. With a focus on creating more inclusive work environments, telecommunications firms are not only fostering a culture of acceptance but also reaping significant financial rewards in the process, says GlobalData, a leading data and analysis company.

With the tech sector being driven at high pace by change and innovation, recruiting teams that more closely resemble the world at large has become more of a priority amongst leading companies. It is telling that 60% of Fortune 500 companies were founded by immigrants.”

Robert Pritchard, Principal Analyst, Enterprise Technology and Services at GlobalData. 

GlobalData analysis reveals that more balanced (by gender, race, and disability) workforces are emerging over time, often led by the C-Suite and the Board, but also in the wider employee base.

Pritchard adds:

With Indian-born CEOs at Google and Microsoft, ever more women CEOs across telecoms and tech companies, and a gay man in charge at Apple, the sector is again leading the way.

“DEI has largely moved from a tick-box exercise to a key strategic management consideration. The companies that are more advanced have been proven to be more successful, with their customers preferring brands and organisations that align with their values and identities.”

Studies by Boston Consulting Group and Harvard Business Review have found that companies with more diverse management teams have 19% higher revenues and 9 percentage points higher EBIT margin. In addition, in the battle for scarce talent in tech, DEI is seen as a key deciding factor for potential recruits – especially amongst Generation Z.

Pritchard concludes:

In terms of rebalancing the overall workforce, it is a long journey as most employees stay in post for over four years. Nevertheless, the demonstration of a cultural shift and a more inclusive approach is vital. This can be helped in the short-term through training, mentoring, cross-team building, volunteering and commitment to employee wellbeing. Success in DEI is reflected in commercial success in the long-run.”

The global telecommunications sector’s proactive embrace of diversity, equity, and inclusivity (DEI) principles signifies a pivotal shift towards greater organizational success and innovation. This industry’s commitment to mirroring the diversity of the world at large in its workforce is not just a moral or ethical stance; it’s a strategic one that has been shown to drive significant financial gains. With the tech landscape rapidly evolving, the ability to attract and retain diverse talent has become a critical factor in staying competitive. The leadership of companies with Indian-born CEOs at Google and Microsoft, women helming tech and telecom firms and a gay CEO at Apple showcase the industry’s progress towards inclusivity.

The importance of DEI extends beyond the boardroom, influencing customer preferences and enhancing brand alignment with societal values. The evidence is clear: companies with diverse management teams report higher revenues and better profit margins. DEI initiatives are crucial for attracting the next generation of talent, with potential recruits, particularly from Generation Z valuing inclusive workplaces.

The journey towards a fully balanced and inclusive workforce is ongoing and requires persistent effort and commitment. It involves not just hiring practices but fostering an environment where diverse voices are heard and valued through training, mentoring, cross-team collaboration and a focus on employee wellbeing.

Call to action

Organisations across all sectors must intensify their DEI efforts, recognising the inherent value of building a workforce that reflects the diversity of the world. By doing so, we not only enhance our companies’ financial and innovative capabilities but also contribute to a more equitable and inclusive society. Let’s commit to making DEI a central pillar of our strategic planning, ensuring our workplaces are welcoming for all and setting a standard for industries worldwide.

Together, we can pave the way for a more diverse, equitable and successful future.