Power in Numbers: How HubSpot Achieved Record Diversity in 2023

The tech industry is notorious for its lack of diversity. Despite some progress in recent years, women and people of color are still vastly underrepresented, especially in technical and leadership roles. According to the latest data from the Equal Employment Opportunity Commission, the high tech sector employs a larger share of whites (63.5%), Asian Americans (20.8%) and men (64%) and a smaller share of African Americans (7.4%), Hispanics (8%), and women (36%) compared to the private sector overall.

But amidst this landscape, some companies are proving that building a diverse workforce in tech is possible with the right strategies and commitment. HubSpot, a leading customer relationship management (CRM) platform, has emerged as a shining example of diversity and inclusion done right. Let‘s take a closer look at the numbers behind HubSpot‘s impressive diversity gains and the key initiatives driving its progress.

Inside HubSpot‘s Workforce Diversity Breakdown

As of 2023, here is the demographic makeup of HubSpot‘s global workforce of over 7,000 employees:

Demographic Percentage
Gender
Women 48.2%
Men 51.6%
Non-binary 0.2%
Race/Ethnicity (U.S.)
White 61.2%
Asian 16.1%
Black/African American 9.3%
Hispanic/Latino 8.2%
Two or more races 4.7%
Native Hawaiian/Pacific Islander 0.2%
American Indian/Alaska Native 0.2%
LGBTQ+ 15.4%
Disability 11.2%
First-generation college student/graduate 48.7%

Source: HubSpot 2023 Diversity, Inclusion & Belonging Report

To put these numbers in context, let‘s compare HubSpot‘s diversity to some other major tech companies that have released demographic data (as of 2022):

Company % Women % Black/African American % Hispanic/Latino
HubSpot 48.2% 9.3% 8.2%
Google 33.7% 4.4% 6.9%
Facebook 37.0% 4.0% 6.3%
Microsoft 29.7% 4.9% 7.0%
Salesforce 33.6% 3.4% 5.2%

Sources: Company diversity reports/websites

As you can see, HubSpot outperforms its peers across gender, racial and ethnic diversity. The company has nearly reached gender parity and employs a significantly higher percentage of Black and Hispanic/Latino talent compared to the other tech giants.

So how did HubSpot achieve this level of workforce diversity? It took a multi-pronged approach with visible leadership commitment, strategic initiatives, and an inclusive culture. Here are some of the key factors behind HubSpot‘s diversity success:

Initiatives Driving Diversity & Inclusion at HubSpot

Inclusive Hiring & Recruiting

To attract more diverse talent, HubSpot has implemented inclusive hiring practices such as:

  • Using structured interviews and diverse panels to minimize bias
  • Partnering with organizations like Hack.Diversity, INROADS and Resilient Coders to source underrepresented candidates
  • Offering internship and apprenticeship programs focused on women and people of color
  • Auditing job descriptions for gendered language and requirements
  • Considering candidates from non-traditional backgrounds and career paths

"We‘ve worked hard to expand our networks and build relationships with diversity-focused organizations," says Andrew Quinn, HubSpot‘s Director of Global Executive Recruiting. "By being proactive and creative in our sourcing, we‘ve been able to hire incredible talent we may have previously overlooked."

Employee Resource Groups

HubSpot has a thriving network of employee resource groups (ERGs) that provide community, support, and advocacy for employees from diverse backgrounds. The seven ERGs are:

  • BlackHub for Black employees
  • Families@HubSpot for parents and caregivers
  • People of Color at HubSpot (PoCaH) for employees of color
  • Pride@HubSpot for LGBTQ+ individuals
  • Vets@HubSpot for veterans
  • Women@HubSpot for women
  • Women in Tech@HubSpot for women in technical roles

These ERGs are more than just social clubs – they play an important role in driving inclusion at HubSpot. Each ERG has an executive sponsor and budget for programming, which includes networking events, learning workshops, community service projects, and cultural celebrations. ERG leaders also regularly advise HubSpot‘s Diversity, Inclusion & Belonging team on policies and initiatives.

"PoCaH has been a game-changer for me at HubSpot," says Basha Coleman, a customer onboarding specialist. "It‘s empowered me to embrace my identity as a woman of color in tech. I feel more confident bringing my ideas forward knowing I have the support of this incredible community behind me."

Leadership Development Programs

To increase diversity at the top levels, HubSpot has invested in several leadership development programs for underrepresented groups. One standout example is The Charted Path, a 6-month program for high-performing Black and Latino employees.

The Charted Path includes:

  • 1:1 coaching with an external executive coach
  • Cohort-based learning sessions on topics like executive presence, strategic thinking, and self-advocacy
  • Senior leader mentoring and sponsorship
  • Stretch project assignments
  • Promotion and compensation planning

"The Charted Path was transformative for my career," says Chester Pearce, a sales manager and program alum. "It gave me the tools, confidence, and exposure I needed to take my leadership to the next level. Since completing the program, I‘ve been promoted twice and am now managing a team of 15. I‘m grateful HubSpot invested in my potential and carved out a path for my advancement."

In the first year of The Charted Path, 90% of participants were promoted or expanded their scope. The program has become a model for developing and retaining diverse talent at HubSpot.

Pay Equity Practices

HubSpot regularly conducts pay equity analyses to identify and close wage gaps across gender and race/ethnicity. In 2023, women at HubSpot earned 99 cents for every $1 earned by men in comparable roles, and employees of color earned $1 for every $1 earned by white employees.

To achieve pay equity, HubSpot has implemented:

  • Compensation bands and standardized job levels
  • Clear guidelines for merit increases and equity refreshes
  • Regular training for managers on bias in performance reviews and pay decisions
  • Proactive pay adjustments for employees below their target pay
  • Ending the practice of asking candidates for salary history

"Pay equity is a fundamental part of our diversity and inclusion strategy," says Katie Burke, HubSpot‘s Chief People Officer. "We know that women and people of color have historically been undercompensated for their work. By proactively analyzing and correcting pay gaps, we can ensure all our employees are receiving fair compensation for their contributions, regardless of identity."

Inclusive Benefits & Policies

HubSpot offers a wide range of benefits and perks designed to support employees from diverse backgrounds and life stages. Some key inclusive benefits include:

  • Generous paid parental leave for all parents (20 weeks birthing parent, 12 weeks non-birthing parent)
  • Family forming benefits covering adoption, surrogacy, and fertility treatments
  • Extensive mental health support including unlimited therapy sessions
  • Gender neutral bathrooms in all offices
  • Prayer and meditation rooms
  • Flexible/remote work options (pre-COVID, 10% of HubSpotters were fully remote)
  • Floating holidays that can be used to celebrate personal cultural traditions
  • Donation matching and VTO (volunteer time off) for all employees

HubSpot also has progressive policies around inclusion, such as:

  • Adding pronouns to email signatures and introductions
  • Encouraging the use of gender inclusive language
  • Mandatory bias prevention and allyship training for managers
  • Allowing employees to expense items that make them feel included (e.g. special adaptive equipment, attire for cultural celebrations)

The Business Case for Diversity at HubSpot

Beyond being the right thing to do, HubSpot sees clear business benefits from building a diverse and inclusive workplace, such as:

  • Better innovation and decision-making: Research shows that diverse teams bring more creativity, perspective, and critical thinking to their work. At HubSpot, product teams with greater diversity consistently outperform less diverse teams on innovation and customer impact metrics.
  • Deeper customer connection: With customers in over 120 countries, HubSpot needs a workforce that reflects the diversity of its global user base. Diverse employees can better empathize with different customer segments and tailor solutions to their unique needs.
  • Stronger talent attraction and retention: In a competitive hiring market, diversity has become a key factor in where top talent chooses to work. Over 70% of job seekers value a diverse workplace. At HubSpot, employee resource group members have a 5-7% lower attrition rate than their peers.
  • Positive brand reputation: Companies known for diversity and inclusion tend to have better brand affinity and customer loyalty. HubSpot‘s commitment to diversity has helped it earn recognition as a best place to work from Comparably, Glassdoor, Fortune, and the Human Rights Campaign.

"Diversity isn‘t just a metric we‘re trying to hit. It‘s a mindset and a way of doing business," says HubSpot CEO Yamini Rangan. "When we embrace diverse perspectives and create a culture of belonging, we make better decisions, build better products, and better serve our customers. Diversity is one of our greatest competitive advantages."

The Path Forward for Diversity at HubSpot

While HubSpot has made major strides in diversity, the company acknowledges it still has room for improvement. Some key areas of focus include:

  • Increasing representation of Hispanic/Latino employees at all levels (currently 8% vs. 19% of U.S. population)
  • Improving the retention and advancement of women in technical roles (currently 24% of tech workforce)
  • Expanding diversity efforts globally beyond the U.S.
  • Building the pipeline of diverse talent through expanded partnerships with HBCUs, HSIs, and community organizations
  • Strengthening allyship and anti-racism training for all employees

"We‘re proud of the progress we‘ve made, but we know diversity and inclusion work is a continuous journey," says Rangan. "As we grow as a company, we‘re committed to growing in our diversity – at every level and in every function. I firmly believe our long-term success depends on it."

Actionable Diversity Tips from HubSpot

For other companies looking to emulate HubSpot‘s diversity success, here are some key tips and strategies:

  1. Embed diversity into your mission and values. Make it clear that diversity and inclusion are core priorities, not just nice-to-haves. Set clear goals and hold leaders accountable.

  2. Take an honest look at your data. Conduct a diversity audit of your workforce demographics, hiring pipeline, pay, and promotion rates. Identify areas of underrepresentation and bias to target.

  3. Rethink your recruiting. Expand your sourcing networks, use inclusive job descriptions, provide unconscious bias training for interviewers, and consider candidates with non-traditional backgrounds.

  4. Support and develop underrepresented talent. Create employee resource groups, mentoring programs, and leadership development opportunities tailored to the needs of diverse employees.

  5. Foster an inclusive culture. Encourage open dialogue, provide ongoing training, offer inclusive benefits, and celebrate diverse traditions. Make sure everyone feels like they belong.

  6. Partner with diversity-focused organizations. Build relationships with nonprofits, schools, and community groups that support diverse talent. Collaborate on events, recruiting, and skill-building.

  7. Communicate your commitment internally and externally. Share your diversity numbers, initiatives and progress with employees, candidates, customers and the public. Be transparent about your goals and learnings.

By following these practices, more companies can cultivate diverse and inclusive workplaces where all employees can thrive. As HubSpot has shown, diversity isn‘t just the right thing to do – it‘s an essential strategy for business success in today‘s global market.