Stock to Watch: Facebook (NASDAQ FB) suffers from a lack of Workforce Diversity

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Facebook Inc (NASDAQ FB) recently released its diversity figures for the first time, showing that the world’s largest social network is run by mostly white and Asian men. Facebook released the data on the heels of similar reports from Google, Yahoo, and LinkedIn that came out in recent weeks. The latest figures should come as no surprise to anyone looking at the past reports, since Facebook’s demographic breakdown was consistent with those other companies.

The reports highlight many tech companies’ persistent inability to diversify their ranks to include more women and underrepresented minorities, especially in senior-level positions. For its part, Facebook admitted Wednesday that it has a lot of work to do to become more diverse, but said it’s committed to that goal.

Facebook said it is implementing several programs to help diversify its staff, including developing new recruiting strategies to attract minority candidates and expanding its “Facebook University” internship program for college freshmen from underrepresented groups.

Facebook Inc: Workforce Diversity

The recent report stated that Facebook is 69 percent male, with 57 percent white and 34 percent Asian employees. Hispanic employees make up 4 percent of the total and black employees make up 2 percent. The gender and ethnic breakdown in tech jobs is even more pronounced, and senior-level positions are held by white and male employees by a large majority.

The companies in Silicon Valley have started paying more focus towards the lack of workforce diversity for the past few months. The workforce diversity data is closely guarded by companies, which makes it difficult to make an exact estimate of the problem of diversity. The current report makes the situation look even more grim, Facebook should look to make amends by recruiting a more diverse workforce.

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Facebook Inc (NASDAQ:FB) Business News

Facebook (NASDAQ:FB) too has similar workforce diversification like other Silicon Valley tech firms, as revealed by the report.Most of the high-profile tech firms based in the Silicon Valley have been disclosing the workforce diversity data and there are huge similarities among all of them. Facebook would like to distinguish itself from the group by making its workforce more diverse. It remains to be seen if they are successful in their venture.

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