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By Traci Wade | February 2021
Of course, boosting diversity and inclusion is the right thing to do. But at Oracle, we realize it is a business imperative, and the best way to increase innovation. Research has repeatedly shown that welcoming, inclusive workforces attract—and retain—the best talent. Talent from diverse communities brings with it valuable insights into how to reach more diverse customer sets.
For example, companies with more ethnically and culturally diverse workforces are 33% more likely to outperform their less-diverse peers in terms of profitability, according to research from consulting firm McKinsey & Company. The message is clear: A diverse and inclusive culture makes us better and more successful.
The execution of diversity and inclusion is a marathon, not a sprint. We are committed to accelerating our current diversity hiring, going deeper with our retention and promotion programs and adding more inclusive training. We will do so transparently, in part by sharing our hiring data.
One early step in this effort was launching our Executive Diversity Council led by Oracle CEO Safra Catz. By bringing together diverse executive leaders within Oracle to work on strategies to help solve important diversity and inclusion issues, we aim to build deeper connections with our employees, customers, and future talent.
Additionally, we created a diversity and inclusion blog which I am excited to announce is now live. The blog features voices and perspectives from all parts of Oracle’s ecosystem as well as the latest news and initiatives.
We will also continue to foster our internal employee communities and encourage employees to volunteer in outside projects that support these diversity and inclusion goals.
“By bringing together diverse executive leaders within Oracle to work on strategies to help solve important diversity and inclusion issues, we aim to build deeper connections with our employees, customers, and future talent.”
Oracle will continue its investment in STEAM (science, technology, engineering, arts, and math) internship programs and provide scholarships that assist with building a more diverse workforce for the future. We have also started an initiative where our executives have become sponsors of Historically Black Colleges and Universities and Hispanic-Serving Institutions. As part of this initiative, our executives engage with curriculum development, funding, speaking, and sitting on advisory boards.
Although Oracle has already done much to foster diversity and inclusion, we know we must redouble our efforts and communicate the results we see both internally and externally. This is mission-critical if Oracle is to have success into the future.
Because we’re in the unique position of providing HCM software to businesses worldwide, we are able to help our customers as they continue to build a diverse culture that drives business impact. Oracle Cloud HCM helps infuse diversity and inclusion functionality along the talent management lifecycle, such as allowing recruiters to expand diverse candidate pools using built-in tools and fostering connections between employees with mentorship opportunities.
At Oracle, we remain dedicated to increasing the number of employees from under-represented communities at all levels, from intern to senior management.
We will continue to update and release information on our diversity and inclusion efforts—and you will be able to track our results. We know change will not happen overnight, but we believe that accountability is key to progress.
Illustration: Wes Rowell