Intel announces landmark diversity program to achieve ethnic parity with the US population by 2020

Establishes $300 Million Diversity Investment Fund

LAS VEGAS, NV (Tell Us USA) - This week during the 2015 Consumer Electronic Show Intel CEO Brian Krzanich announced that he has committed the company to a bold new hiring and retention goal to mirror the face of America in its U.S. workforce by achieving full representation of women and under-represented minorities at Intel by 2020.

Intel's workforce is currently 4 percent black; if the company were to adjust its numbers to reflect the number of qualified workers in the tech industry, that number would increase by 48 percent (reaching about six percent overall).

Krzanich challenged his own company to have a workforce fully representing the population by 2020 yesterday. He also said the company will hold its managers accountable by tying their pay to progress. "This isn't just good business," he said. "It's the right thing to do. When we all come together and commit, we can make the impossible possible."

Reverend Jesse Jackson and the Rainbow PUSH Coalition applaud Intel’s landmark diversity announcement to transform their workforce to achieve parity, or full representation of Blacks, Latinos and women, relative to the US population available by 2020. Jackson, stated, “RainbowPUSH argues that companies must set measurable diversity and inclusion goals, targets and timetables. Intel has done just that, and more."

Jackson, who met with CEO Krzanich and Intel’s leadership team at their Santa Clara offices on December 11, added that Intel has always been a leader in data transparency for over a decade, by regularly released their EEO-1 and workforce diversity data, long before other tech companies did so last year. Now, Intel is putting a budget behind its vision by committing $300M over the next 5 years.

Rosalind L. Hudnell, Intel’s chief diversity officer, cited statistics showing that just 18 percent of undergraduate engineering degrees go to women. That makes it especially difficult to improve diversity at Intel, which leans more heavily on technical employees than other tech companies.

And yet, even with fewer qualified female and minority candidates for jobs at the company, Intel says it can do more to recruit employees from those groups. For instance, the company estimates that if the black population with the appropriate technical skills was fully represented at Intel today, the company’s current population of black workers would grow by about 48 percent.

This new program will foster an expansion of collaboration with the HBCU”s, strengthening their infrastructure to teach CS and prepare students to enter the tech industry. In short the $300M Intel “diversity” fund has the potential to seed the next generation of innovators, creators and hackers.

RainbowPUSH will also encourage the utilization and inclusion of minority financial, legal and professional services firms, and the adoption of a robust multi-cultural marketing and advertising initiative to reach the new, emerging markets of America.

Jackson stated, "They have now set the standard by which all other companies will be measured. Brian and Intel are creating a big tent, taking creativity and underutilized markets out of the margins.”

Innovation is more than driverless cars, cloud computing, and the latest “wearable” device. There must also be innovation in the inclusion and diversity space. Intel is now driving diversity and inclusion in technology, setting a high bar for it and the entire industry to meet. That’s innovation.

RainbowPUSH is excited to join with Intel and partner with them to implement their “parity 2020” initiative to connect with people, businesses and communities of color to change the face of technology,” said Rev. Jackson.

Jackson added, “It is our hope that the participation of African Americans and Latinos will be greatly accelerated in the next five years. Participating fully and equitably in this world changing, innovative tech economy is the civil rights imperative of this generation. We must all be included and none left behind. Intel’s Parity 2020 commitment today is the boldest action yet taken by any tech company to make this dream a reality.”

African Americans, Latinos, people of color and women: we represent money, market, talent and location. Of the 320 million people in the US, over 45 million or 14% are Black; 52 million or 17% Latino; 5% Asian, and 51% women. By 2040 people of color are projected to be the majority of the US population. African American buying power is projected to be $1.1 trillion by 2015; $1.5 trillion in consumer power for Latinos. That is the new reality for the new America.

There is no talent deficit, but an opportunity deficit. Intel’s “parity 2020” plan demonstrates a desire to tap the unfound talent, untapped capital and underutilized markets in communities of color. There is nothing that the tech industry needs, that we can’t supply. Looking forward, the technology industry can unleash a new era of economic opportunity and innovation and growth.

The business imperative is clear: diversity and inclusion leads to growth and when there is growth everybody wins. At the turn of this new year, Intel has issued a clarion call to the industry. Let the push to parity begin in 2015!


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