Australia’s technology industry, as in most other developed nations, has soared in recent years. Driven by rapid innovation and an exciting start-up ecosystem, demand for tech talent is at an all-time high.
Despite this, the harsh truth is that for all of the tech industry’s advances, it remains lacking in a key component of the modern business ecosystem – DEIB (Diversity, Equity, Inclusion, and Belonging).
So, here at Project F, we hope to change that.
In this article, we’ll examine the changes in the prioritisation of DEIB from 2020 to 2024 and also discuss how to prioritise DEIB and gender diversity in the tech workplace with a practical step-by-step guide.
Join us as we build a stronger tech industry that thrives through unity and inclusivity.
Defining DEIB (Diversity, Equity, Inclusion, and Belonging)
DEIB stands for Diversity, Equity, Inclusion, and Belonging.
It represents an approach to fostering workplace and societal environments that embrace and celebrate differences, ensure fairness, prioritise gender diversity and seek equal opportunities.
The goal of DEIB is to cultivate a sense of belonging, and actively include diverse perspectives to create more equitable and inclusive spaces for individuals of various backgrounds and identities.
The role of DEIB in the technology industry
In today’s age, the demand for tech skills is growing rapidly, however, the same cannot be said for the supply of tech skills, which, though growing, is doing so at a slower rate. As a result, a significant labour gap exists in the technology industry.
So, what can be done to resolve this?
Well, the industry urgently needs to tap into gender-diverse talent pools, which are currently highly underrepresented.
In fact, despite women making up 51% of the Australian population and therefore being far from a minority group, women make up just 29% of the tech workforce in Australia.
What’s more, is that when it comes to software engineering more specifically, female representation is just 12%, and in IT just 23.3% of grads are women. We also know that over 50% of women leave tech mid-career which is more than double the exit rate for men.
Clearly, change is required, but, before we get into some more practical steps to achieve DEIB outcomes in tech, let’s first take a look back at how the issue has been treated in recent years.
Changes in the prioritisation of DEIB from 2020 to 2024
From 2020 to 2024, there has been a significant shift in the prioritisation of DEIB initiatives within organisations in Australia, though, genuine results are still lacking when it comes to the tech industry.This increased prioritisation is largely fuelled by increased awareness about the importance and value of fostering diverse and inclusive workplace environments, with a 2019 study by McKinsey finding that:
“Companies in the top quartile for gender diversity within executive teams were 25% more likely than companies in the fourth quartile to have above-average profitability.”
This, in combination with societal calls for equality, has led major Australian tech companies like Canva to make significant commitments to DIEB.
Unfortunately, this has only led to a dismal 1% growth from 28% in Female tech representation in four years. What’s more frustrating is that, in a 2022 report by McKinsey, it was found that only 86 women are promoted to manager for every 100 men across every industry, but when isolated for tech, that number drops to 52 women for every 100 men.
These statistics paint a bleak picture of the tech industry at present, even despite a recent shift in DEIB prioritisation. However, the long-term future is looking brighter, with 50% of Canva’s US hires being women, and 32.2% of leadership roles at Google being held by women as of 2021.
The evolving corporate landscape indicates an improving (though far from ideal) commitment to DEIB, but future success in this area lies in the hands of current tech companies and their leaders.
How (and why) to prioritise DEIB in the tech industry
As the McKinsey study suggests, prioritising Diversity, Equity, Inclusion, and Belonging (DEIB) is crucial for fostering innovation, productivity, employee engagement and achieving sustained business success.
Diverse perspectives, when allowed to flourish, establish a more dynamic workplace, improve decision-making, and ensure a fair and equitable working environment that attracts and retains top talent in an increasingly diverse global market.
With so much to gain, here is a step-by-step list to improving DEIB outcomes:
- Assessment: Begin with a targeted evaluation of your organisation’s current Diversity, Equity, Inclusion, and Belonging (DEIB) initiatives and identify the key outcomes that need to be improved. The fundamental goal is to make clear commitments that shift your organisation’s perspective from reactive to proactive.
- Share the commitment: Communicate these outcomes and commitments to DEIB throughout your organisation. This will foster a culture that understands and embraces DEIB, ensuring that these values are embedded into the everyday ethos of the company and communicated effectively to all stakeholders.
- Embed DEIB in every department and operation: Integrate these DEIB principles into every facet and level of the organisation. This involves updating company policies, hiring practices, and general operation behaviours to match your organisation’s DEIB goals and create a holistic approach to fostering a more inclusive environment.
- Develop standards for measuring progress: Create and communicate a set of measurable standards to gauge the progress of your organisation’s DEIB initiatives. These could include key performance indicators (KPIs) and benchmarks, enabling the quantifiable evaluation of your organisation’s advancements.
- Continuous Evaluation: Implement a dynamic and ongoing evaluation process to regularly assess the effectiveness of your organisation’s DEIB strategies. This ensures that your organisation remains agile, responsive, and committed to continuous improvement.
The Big Picture: DEIB in tech for the future
Despite a shift in mindset from 2020 to 2024 and improving efforts toward DEIB outcomes in Australia’s tech sector, particularly among the nation’s larger tech companies, female tech representation remains appallingly low.
It is now incumbent upon organisations to adopt a proactive approach and commit, communicate, and embed DEIB principles into their policies and practices to drive this movement forward.
Just remember that there are significant benefits beyond just social goodwill that can come from encouraging openness to greater diversity in the tech workforce.
So, how do you get started? It begins with a DEIB pulse which – and Project F is here to help.
Conduct a DEIB Pulse Check today
Project F is a for-profit, social impact business with a laser focus on solving the problem of poor gender diversity in technology.
To start this process, we offer a fast and simple “Pulse Check” to help you find out how your company ranks on Project F’s Tech Diversity Equity & Inclusion (DEI) Maturity Scale.
In other words, we help you identify what you’re doing well and what measures need to be taken to improve your organisation’s DIEB outcomes.To get a pulse check for your organisation and assess your Gender Diversity outcomes, complete the questions here and we’ll send you a report that shows where you sit on our DEI maturity scale.
