Whether it’s Facebook Inc (NASDAQ:FB), Google Inc (NASDAQ:GOOGL) or Yahoo! Inc.(NASDAQ:YHOO) the lack of diversity in the workforce is more than obvious. As the demographics of America continue to change, could this mean that this implicit discrimination is coming at the cost of innovation and thus possibly hurting the top line of these tech companies?
In an interview on Bloomberg, Tristan Walker, who is the founder and chief executive officer at Walker & Co Brands, shed light on how big a problem this lack of diversity in the workforce could become for companies like Facebook Inc (NASDAQ:FB), Google Inc (NASDAQ:GOOGL) and Yahoo! Inc.(NASDAQ:YHOO) in the future.
“[…] What is fascinating is that by 2040 folks of colour will be the majority of the country, right, so if you look at some of the most popular startups out there, or companies, Facebook Inc (NASDAQ:FB), Instagram etc. how would they be built in the year 2040, would it be Spanish language first, or would it be English first? Would it be Android first or iPhone first? And these are all incredibly strategic discussion points that need to be discussed […],” said Walker.
According to the data provided by Bloomberg, the lack of diversity in the above mentioned tech companies is staggering. Facebook Inc (NASDAQ:FB) and Google Inc (NASDAQ:GOOGL) rank the highest with 91% of their employees being either white or asian, while Yahoo! Inc.(NASDAQ:YHOO) is not too far behind with its 89% of employees in the same category.
Even if we look at the demographics in terms of the ratio of men and women employed at these firms, the demographics seem to be heavily skewed in the favor of men. According to the infographic shown on Bloomberg, just 30% of Google Inc (NASDAQ:GOOGL)’s workforce is comprised of women. For Facebook Inc (NASDAQ:FB) and Yahoo! Inc.(NASDAQ:YHOO) the numbers are slightly better and stand at 31% and 37% respectively.
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