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Intel invests $300 million for New Year’s Resolution

Intel invests $300 million for New Year’s Resolution

Posted January 10th, 2015 in Career Advancement.

While most companies are coordinating “biggest loser” challenges within their offices in order to promote health and teamwork within the workplace, Intel publicly announced its 5-year $300M commitment to diversity and inclusion across all levels of their company. With most New Year’s resolutions beginning January 1st and ending 30 days later – if that long – Intel has clearly raised the bar by committing to what in essence is a cultural overhaul.

For anyone who knows anything about how change works, it actually takes time, practice, and long-term commitment, repeated over and over and over again. As the anecdote goes for how to get to Carnegie Hall: practice, practice, practice applies to every goal, change, and achievement.

So what’s all this have to do with women?
Businesswomen in a MeetingAt this year’s International Consumer Electronics Show (CES – details at hr 1:03) in Las Vegas, Intel’s CEO, Mr. Brian Krzanich, made public Intel’s commitment to diversity and inclusion. “It’s not good enough to say we value diversity, and then have our workplaces and our industry not reflect the full availability and talent pool of women and under-represented minorities.”

With the announcement of its Diversity and Technology Initiative, Intel ups the ante within the industry. The initiative has three concrete purposes:

  1. to increase the representation of women and under-represented minorities in the workplace and our industry;
  2. to have full representation in Intel at all levels by 2020;
  3. to increase hiring, progression, and retention

By investing $300,000,000 over the next five years, Intel plans to:

  1. grow Intel’s diverse population
  2. fund initiatives to support more participation and positive representation of women and under-represented minorities in technology and gaming
  3. increase the pipeline for women and diverse candidates to enter the field

How do they know it will work?
womanandpaintingIn a 2013-2014 UC Davis School of Management research study of 400 California companies, 34 of those 400 firms were identified as having the greatest gender diversity among executives and board members. These companies were associated with earning three times more revenue and having 50 percent higher profit than the average company with fewer female leaders.

Companies realize not only are they not benefitting from the intellectual capacity of our country’s population by not diversifying their workforce, they also realize they miss the input from a sector of society that represents the market they are targeting when it comes to consumer spending.

If they haven’t already, companies ought to take this kind of New Year’s resolution-making to heart. Striving to strategically and conscientiously change corporate culture to better reflect the broader social culture can, and does, increase revenue, which in turn bolsters the economy.

“Remember…whatever can be done, can be outdone.”
– Gordon Moore, Founder, Intel
Clearly, it is time to act. It no longer serves anyone to default to the excuse of “this is how it has always been done.” If your business is not in the process of coming up with the how, then you have already fallen behind.

This is why Women Evolution was created. Cost effective, scalable, skill-based: we help women take ownership of their career, teaching tangible skills to be more confident, engaged and equipped. Join us, and be part of the evolution. Be a part of Women Evolution – be a part of WE!