47% of millennials want to work at diverse companies, according to a recent study.

Statistic Info

Silicon Valley may be the world’s leading hotbed of innovation and genius, but it struggles with diversity and unconscious bias. Culture wars at shareholders’ meetings and recent lawsuits against tech titans such as Google and YouTube over its lack of diverse hiring practices highlight the festering problem. Left untreated, this may be the Achilles’ heel that topples the technology industry’s supremacy as an entrepreneurial center of excellence. That’s because having a diverse workforce is a competitive advantage that drives productivity and profits as companies sell their products and services to a broad population.

Lack of diversity in Silicon Valley is an old story. Nineteen years ago civil rights leader Jesse Jackson first launched a campaign to encourage the region’s tech companies to hire black and Latino workers. At the time, he was accused of “terrorism” by Scott McNealy, the co-founder of early Silicon Valley giant Sun Microsystems.

Tech leaders may have changed their tune in the intervening decades — all the top CEOs today loudly proclaim a commitment to “diversity and inclusion” — but in other ways not much has changed in almost two decades. A study released in May by the National Urban League sparked criticism of the tech industry. It revealed that at companies like Uber, Twitter, Google and Facebook, fewer than 3 percent of tech workers identify as black.

More SaaS & Tech Growth Strategy Stats

If your Net Revenue Churn is high (above 2% per month) it is an indicator that there is something wrong in your business; which may have a dramatically negative effect on your company’s growth. Source: Mckinsey

Customer Segmentation analysis will help point out which are your most profitable segments

Companies that spend more on sales and marketing (as a % of revenue) generally grew at a faster rate than those that spent less

Increases in revenue growth rates drive twice as much market-capitalisation gain as margin improvements for companies with less than $4 billion in revenues

The statistic shows the worldwide IT spending on enterprise software from 2009 to 2020.

The boom in the industry is creating more jobs for techies. Data reveals there were 627,000 unfilled positions in tech in April 2017

To generate a single dollar of new customer revenue, Field Sales strategies have an average Customer Acquisition Cost (CAC) of $1.14

55% of SaaS companies rate Customer Retention as the key metric to measure

Growth rate accelerates in the expansion stage ($2.5M – $10M ARR)

Between the SMB and Enterprise customer types, the top-quartile performers not only have net-revenue churn that is 14% to 23% percentage less than the average performers but also have net-revenue churn that is negative in an absolute sense