Streaming service Netflix says it has made progress in areas of inclusion and diversity with more women and minorities among its workforce, according to the company's first report on diversity and inclusion published on its site on Wednesday, January 13. The findings look at its numbers from 2017 to the end of 2020.
The report shows that by the end of 2020, women made up 47 per cent of the company, an increase from 40 per cent in 2017 – and made up almost half the workforce including at leadership level with 47 per cent of directors, 43 per cent of vice presidents and 47 per cent of senior leadership.
Nearly half of the company's US workforce (46 per cent) are made up of people from one or more underrepresented racial or ethnic background. By the end of 2020, 8 per cent of its employees were black, which is more than double the number from 2017. Black staffers also made up 9 per cent of Netflix's US leadership team, including directors level and above.
In a short video released along with the report, Verna Myers, VP of inclusion strategy for Netflix said, "What we have learnt about diversity and inclusion is that, while it's the right to do, for sure, it is also responsible for our ability to innovate."
Myers said that Netflix could do more to recruit Hispanic or Latinx and other underrepresented people into all areas of the company, as well as learning about topics of inclusion and representation outside of the US.
"We’ve started by adding Cassi Mecchi to the inclusion team to lead this work for our Europe, Middle East and Africa teams. We will add team members in the Asia Pacific and Latin America regions in 2021," she said.
You can read the full report here.
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Defined benefit and defined contribution schemes explained
Defined Benefit Plan (DB)
A defined benefit plan is where the benefit is defined by a formula, typically length of service to and salary at date of leaving.
Defined Contribution Plan (DC)
A defined contribution plan is where the benefit depends on the amount of money put into the plan for an employee, and how much investment return is earned on those contributions.
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