How diversity benefits tech SMEs

Written by Lauren Wyatt, UKCloud

Many believe that diverse workforces are a concern of large companies, and that diversity is too hard to create in small tech SMEs, but as a company grows and disrupts new markets, a diverse workforce can bring a wealth of benefits.

UKCloud is proud to support the advance of diversity in technology, and recently sponsored a Digital Leaders event which encouraged those involved within central government to share their thoughts on the matter.

It is generally understood that companies with diverse workforces are more likely to have a better understanding of their customers. Due to this many companies are encouraging diversity as it could potentially give them a competitive edge. This insight can also help companies when selling to minority groups. A diverse workforce can perhaps enable better sales, and potentially enhance business revenue. You can read more about the financial benefits of diversity in organisations in this 2018 CIPD report.

Tech SMEs are a driving force for innovation. As a company grows, teams that are diverse are more likely to generate new ideas as they are built on different ways of thinking, according to this 2013 Deloitte report. This innovation can additionally help drive revenue and business success. Not only this, but a diverse team is often a better and happier team, which can assist with employee retention — you can read more about the human resource benefits of diversity in the workplace in this Employment & Social Affairs report.

Many talented members of the workforce seek out diversity as a key selling point when deciding on an employer and a new job role. Encouraging diversity from an early stage can ensure companies employ the best people as they expand and progress.

So, how can you encourage diversity in your organisation? Companies can be conscious of the requirements of minority groups, and can also ensure job descriptions and cultures are not tailored to one homogenous way of thinking.

Tech SMEs can also get involved with events such as Pride Month and International Women’s Day. Overall, diversity in any company starts with a change of mindset, and with the benefits it can bring, this should be a priority for any company irrespective of size.

Originally published at digileaders.com on July 10, 2018.