In the latest ‘Stories from the Cloud’ podcast, Jason Williamson, Vice President of Oracle for Startups and Zara Nanu, CEO of Gapsquare, talk on the current state of diversity in business and the ways in which technology can help close the gender pay gap.
Gapsquare builds software to help automate pay equality and has been part of the Oracle for Startups program since 2018.
The discussion examines why hiring diverse teams are good for business. Research from both Harvard University and McKinsey have highlighted how more diverse businesses perform better.
Despite these findings, unconscious bias makes hiring talent more complex. Gapsquare’s solutions help overcome these biases to hire and retain the best talent.
It is possible for algorithms to actually reinforce biases through AI and machine learning, accelerating inequality. Therefore, Nanu asserts companies should be aware of existing data bias, and leverage experts to monitor the process to ensure a more equal outcome.
To create a diverse and equitable workplace, leaders can also examine their own underlying principles.
Williamson reflects on how his value system has been shaped by raising a daughter with special needs. “Seeing how she has had to battle to be on the same playing field as others has helped me think of this topic on a more fundamental level.”
As Nanu noted, when people think of hiring, they often consider how new hires will fit in the company culture, leading people to hire someone similar to them. Gapsquare’s experts encourage hiring based on the required skills and values for the role, which can lead to a much more diverse team. Value-based hiring allows companies to bring in people with differing points of view, contributing to disruption of the status-quo and encouraging new ways of thinking.
While fundamental views can take a long time to examine and change, leaders are encouraged to let the results of a more diverse team speak for themselves. And technology can help drive towards a more diverse, fair and valuable workplace.
Listen to the Stories from the Cloud podcast here.
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