BUS FPX 3007 Assessment 4 Corporate Social Responsibility BUS-FPX3007 Developing a Business Perspective Introduction: In a World Where You Can Be Anything, Be Nice NICE Corporate Responsibility Webpage
NICE is committed to making a positive and sustainable impact in the communities it serves. One key initiative is its focus on narrowing the gender gap in technology roles. The Code:Coda program, launched in Israel in 2019 and expanding to the United States and India by 2023, is designed to foster interest in high-tech professions among young women. Nearly 200 participants are enrolled in a multi-year coding development program, with 60% of initial participants opting for computer-based majors in high school.
The Problem
Women represent almost half of the global population but account for only 25% of the workforce in technology-related roles. Additionally, studies indicate that women who enter college for technology degrees are less likely to graduate in their field compared to their male counterparts (37% vs. 30%). Furthermore, women are 2.5 times more likely to leave tech roles than other occupations. This raises a critical question: if technology is intended to serve everyone, why is there such a low representation of women?
How the Problem Affects a Community and the Organization
The lack of diversity has far-reaching consequences, affecting both communities and organizations. A homogeneous workforce stifles innovation and creativity, potentially decreasing it by as much as 20%. Additionally, a lack of diversity can undermine psychological safety within teams and hinder thoughtful decision-making. This situation highlights that having a minimal level of diversity is insufficient, as true diversity fosters the introduction of new ideas, which are less likely to gain traction in an environment devoid of representation.
Table: Diversity and Its Impact
| Diversity Issues | Innovation Impact | Economic Consequences |
|---|---|---|
| Lack of diversity reduces creativity and innovation. | Creativity and innovation can decline by 20%. | Companies with diverse workforces tend to perform better financially. |
| Homogeneous teams experience lower psychological safety. | Discourages thoughtful decision-making. | Poor diversity metrics correlate with lower stock performance. |
| Insufficient diversity halts global growth, costing trillions. | A lack of representation stifles new ideas. | A study showed a potential $12 trillion increase in global GDP by 2025 with improved gender diversity. |
Advantages and Limitations of Possible Solutions
Expand Code:Coda Worldwide and Offer Additional Support
Expanding the Code:Coda program globally could allow more young women to participate while providing support throughout the program cycle. However, without existing female representation, the initiative may struggle to gain momentum and would require a significant financial investment.
Offer College Grants to Code:Coda Participants
Providing financial support through college grants can encourage more women to attend college for technology jobs. Nonetheless, grants alone do not address the larger issue of inclusion at these institutions.
Offer Guaranteed Job Placement at NICE for Code:Coda Graduates
Guaranteeing job placements for Code:Coda graduates at NICE can promote college completion and increase female representation in the workforce. However, if the workplace culture is not inclusive, retaining these women may become a challenge.
Recommended Solution
Guaranteed Job Placement in an Inclusive Work Environment
The most effective solution would be to offer guaranteed job placements for Code:Coda college graduates within an inclusive workplace at NICE. Operating in 30 countries, NICE can contribute to closing the gender gap in local communities worldwide. To foster a sense of belonging among women in tech, NICE should implement inclusive key performance indicators (KPIs), benefits, and perks, such as better parental leave policies, a women-specific support network, family-oriented networking events, flexibility in work location and hours, and mandatory diversity KPIs.
Code:Coda – Sustainability for the Future
Investing in women now creates a viable workforce for the future and contributes to robust succession planning. Improved inclusion methods benefit everyone, leading to happier and more engaged employees, thereby positioning NICE at the forefront of this movement.
Conclusion
Through the Code:Coda initiative, NICE has the opportunity to revolutionize the tech industry by expanding access to technol