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How To Go Beyond “Pipeline Problem”: Building a Diverse Tech Workforce with Actionable Strategies

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By Taggd Editorial Team

February 6, 2024

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Introduction

The tech industry stands as a powerhouse, contributing substantially to the economy with a market size totaling $245 billion and employing over 5.4 million individuals directly and indirectly, with a 5% YOY Change in hiring in 2024. 

Based on this positive outlook, Shefali Desai, Global Head TA, Bristlecone, noted – “Approaching 2024, the IT industry is cautiously optimistic yet anticipates a substantial hiring surge. Recognizing the pivotal role of retention and upskilling, a seamless interface between Talent Management, Talent Acquisition, and Training will be emphasized.”

By 2030, India is projected to host a minimum of 10,000 deep-tech startups, according to projections derived from Taggd’s India Decoding Jobs Report 2024.

However, despite its vast scope, the sector grapples with a persistent challenge: the pipeline problem. In India, where the tech landscape is rapidly evolving, there’s an escalating demand for skilled professionals adept in cutting-edge technologies like AI, machine learning, cybersecurity, and cloud computing. 

Unfortunately, the current education system and training programs fall short of meeting this demand, resulting in a glaring skills gap hindering the industry’s progression. Moreover, fierce competition from sectors like finance and healthcare intensifies the struggle for top talent. 

To tackle this dilemma, tech companies must reimagine their approach to talent acquisition, and one major way to do this is to build more inclusive work environments. In this article, we delve into actionable strategies for tech firms to surmount the pipeline problem and foster diversity within their workforce.

Impactful Strategies to Build a Diverse Tech Workforce

In the pursuit of cultivating a diverse tech workforce, employing effective strategies is paramount. This is evident by the fact that companies with diverse teams experience a cash flow per employee that is 2.5 times higher.

Studies have also shown that by cultivating diversity within the workplace, you can promote enhanced teamwork among employees, resulting in productivity levels that are at least 1.32 times higher.

Below, we delve into actionable approaches that tech companies can adopt to foster inclusivity and innovation within their teams.

  • Conduct a Comprehensive Diversity Sourcing Audit

Before implementing any diversity initiatives, it’s crucial to gain a comprehensive understanding of the current state of diversity within the organization. Conducting a diversity sourcing audit involves assessing various aspects such as recruitment processes, hiring metrics, representation across different demographics, and inclusion practices. 

This audit provides valuable insights into areas for improvement and informs the development of targeted diversity strategies tailored to the organization’s specific needs and challenges.

  • Forge Strategic Institutional Collaborations

Collaborating with educational institutions, industry associations, and diversity-focused organizations can significantly enhance diversity initiatives. By partnering with universities, colleges, and vocational schools, tech companies can establish pipelines for diverse talent, offer internships, mentorship programs, and sponsorships for underrepresented groups. 

Additionally, collaborating with diversity-focused organizations provides access to resources, networks, and best practices that can support recruitment efforts and promote a culture of inclusivity.

  • Harness the Power of Employee Referral Programs

Employee referral programs are an effective way to tap into existing networks and attract diverse talent. Encouraging employees to refer candidates from underrepresented backgrounds can help expand the candidate pool and bring in individuals who may not have otherwise been reached through traditional recruitment channels. 

To enhance the effectiveness of referral programs, companies can offer incentives, provide training on unconscious bias, and ensure transparency and fairness in the selection process.

  • Leverage Technology and AI for Inclusive Hiring Practices

Technology and AI can play a crucial role in promoting inclusive hiring practices by facilitating data-driven decision-making, reducing bias, and ensuring fairness in the recruitment process. This involves leveraging AI-powered tools for resume screening, candidate sourcing, and interview scheduling to streamline workflows and minimize human bias. 

Additionally, companies can utilize data collection and analysis to monitor diversity metrics, evaluate the effectiveness of diversity initiatives, and identify areas for improvement. It’s essential to incorporate ethical guidelines and regular evaluation processes to mitigate potential biases and ensure that technology is used responsibly and inclusively.

  • Foster Inclusivity Across Company Culture, Career Platforms, and Social Channels

Creating an inclusive culture where all employees feel valued, respected, and empowered is essential for attracting and retaining diverse talent. This is evident by the fact that when selecting a company to apply to, 46% of job seekers emphasize the significance of a positive and inclusive company culture. 

Creating an inclusive company culture and brand involves fostering a sense of belonging through inclusive language and communication, promoting diversity and cultural awareness training, and providing support systems for employees from underrepresented groups. 

Additionally, companies can ensure that career platforms and social channels reflect diversity and inclusion values by showcasing diverse employees, sharing diverse perspectives, and highlighting inclusive initiatives and events.

What Lies Ahead?

In the face of formidable challenges, the IT sector persists in its dedication to advancement and innovation, bolstered by forward-thinking government policies. This collective effort sets the stage for the industry’s remarkable trajectory, aiming to reach a staggering $500 billion mark by 2030. 

Crucially, diversity and inclusion initiatives are positioned as integral drivers of this growth. With women’s participation projected to increase from 33% in 2023 to 36% in 2024, the landscape holds promise for even greater diversity and inclusivity. As the industry embraces diverse perspectives and talents, it not only meets the demands of a rapidly evolving digital landscape but also fosters a culture of innovation and resilience essential for realizing its ambitious goals.

In addition to the insights previously highlighted, the India Decoding Jobs 2024 report serves as a treasure trove of data-driven insights specifically tailored for recruiters in the IT sector. Laden with actionable information and emerging trends for 2024, this report equips IT recruiters with the tools needed to make timely and strategic decisions, steering their organizations toward a workforce and culture ready to tackle the challenges of tomorrow.

Crafted through meticulous surveys and deep conversations with esteemed talent acquisition professionals spanning various industries in India, this comprehensive report has emerged as a coveted repository of invaluable data and insights. It stands as a pivotal resource, illuminating the path for recruitment decision-makers, providing nuanced comprehension of the landscape, and empowering recruiters to sculpt agile and forward-thinking teams.

To download your exclusive copy of the report, click here or write to us at contact@taggd.in.