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 Tech Services Stats

Revenue per employee has been steadily increasing in SAAS companies. It serves as a great longitudinal measuring stick to understand the increasing or decreasing efficiency of the business

The very best SAAS companies keep monthly revenue churn at around 0.58%, that’s only about 7% revenue churn a year

How to Reduce Churn

More than two thirds of SAAS companies experienced annual churn rates of 5% or higher

Unlike many other industries, if a software company grows at only 20%, it has a 92% chance of ceasing to exist within a few years

The average company gets 16% of new ACV sales from up-sells and expansions, though companies with revenue between $10MM-$40MM are relying more heavily on up-sell and expansions

In 2018, the U.S. imported aerospace products worth about 53.98 billion U.S. dollars.

83% of China’s digital shoppers made an online purchase in the past month

51% of large (revenue >$2.5million) SaaS companies use field sales as their primary method of distribution

For a SaaS business of almost any scale, the valuation impact of better retention is in the tens of millions over time

More Culture Stats

The venture-backed companies that were acquired most often had a 7 percent share of female execs, as opposed to 3 percent at unsuccessful (unacquired) firms

At Facebook, 15 percent of tech roles are staffed by women

Google only has a 30 percent female workforce

in 2016, women-led companies received $1.46 billion in investments from venture capitalists. Male-led companies, on the other hand, received $58.2 billion

It’s been reported that women who work in computer and mathematical fields earn 80 cents to the dollar that men earn doing the same job

63 percent of the time, women receive lower salary offers than men for the same job at the same company

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

Women in western countries use the internet 17 percent more than their male counterparts

Women-led companies have historically performed three times better than those with male CEOs

At Twitter, 10 percent of tech roles are staffed by women