Given how scarce certain skill sets are, in the technology sector especially, keeping hold of valuable employees is crucial to the long-term growth of many businesses. You have to invest in staff, you have to give them freedom. That much we know. However, now you also have to consider the ethical practices of your business, according to research published last week by Doteveryone.
The headline stats are that 28% of UK tech workers are concerned with the ethical actions of the company they work for, and feel strong enough to consider quitting as a consequence. In fact 18% do resign, so this isn’t just grandstanding!
It ties neatly into the narrative of a shift away from moving fast and breaking things. The damage done to the reputation of big tech in the past year has caused the industry to have a long, hard look in the mirror. Is this really a surprise? Greed is good was the 80s, but profits and a hunger to grow trumping all other ends has prevailed long after Wall Street hit cinemas. I don’t even think the global recession and bank crisis dented that business outlook.
However GenZ and millenials do view the world differently, and they’re taking over the workplace. Soon they won’t be just entering business, but make up the majority of them. Just as Conversative leaning liberal parts of the country are embracing the Greens, politics (with a small ‘p’) is influencing business.
The message for technology companies couldn’t be clearer. Continue to move fast and break things and you’ll be left behind and pay the price. You will lose out in the ongoing battle for valuable talent as they seek out businesses that support employees who innovate responsibly.
I only need to look at the success of companies such as Wagestream, Olio, Birdie and Safe & The City as examples, testifying to the success of this approach. The passion and clarity their leaders bring to Tech Talks is a core strength.
So, have you considered your purpose? Are you a business with responsibility as a guiding principle? If not it may be time to reassess your message.
For more information check out https://doteveryone.org.uk/project/peoplepowertech/
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