Six Things to Know About the Latest Efforts to Bring Unions to Big Tech
Workforce diversity is increasingly seen as a strategy to help attract and retain talent, enhance intellectual capital, and drive long-term value creation.
Union Formation Is Picking Up in Publicly Traded Companies
Board Diversity Helps Stock Performance
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Sources: Fast Company, Reuters, Washington Post, BakerAvenue
In the boardroom, diversity also affects financial performance. According to a new study, which analyzed large-cap companies across the globe from 2012 to 2020, companies with greater board diversity may in fact be better stock picks.
The findings contribute to growing evidence on the positive performance of environmental, social, and governance (ESG) practices, of which diversity is a key component. As demand for sustainable investing continues to grow, investors should engage corporations about their diversity initiatives to help optimize the bottom line and work towards creating a more equitable future.
While federal law allows American employees the right to unionize without retaliation, tech giants have established a norm of fighting back hard against workers who have attempted to collectivize their workplaces. Even Microsoft called its decision to adopt a “neutral” stance toward a potential unionization effort “ground-breaking.”
Although demands for stronger policies against sexual harassment and more support for women and people of color have led to changes at some tech giants, the tech workers’ movement still faces a challenging road ahead.
Read the latest on unionization in Silicon Valley and Big Tech:
Six Things to Know About the Latest Efforts to Bring Unions to Big Tech
Sources: Morgan Stanley, BakerAvenue
The growing battle over equity, ethics and labor rights is one that goes well beyond wages and perks. While unionization has popped up among groups of blue-collar workers for years in publicly traded companies, labor activism is cropping up among more privileged employees of tech giants as well.
The first-ever national agreement provides members with significant wage improvements, higher semi-annual bonuses, a more flexible attendance policy, and a substantial increase in pension contributions, alongside other workplace benefits.
Read more on the new agreement: Teamsters Union Reaches National Contract With Costco
Read more on the impact of corporate board diversity: Does Ethnic Diversity on Corporate Boards Affect Stock Prices?
Average percentage of people of color on corporate boards by country: 2012-2020