We have heard a lot of stories about the power of a diverse workforce, but how can a more diverse workforce help businesses be more successful?
Why is diversity recruitment important?
There are numerous advantages to implementing a diversity plan in your company, and by hiring a diverse pool of applicants and staff, you may reap these advantages for your business as well. However, you will need to employ diverse hiring tactics in order to take advantage of these benefits.
- Diverse perspectives
Diverse perspectives are the natural result of creating a more diverse talent pool. So when you hire diverse candidates, you’re ensuring that your company will benefit from the unique traits and backgrounds of each person.
A diverse team enables organizations to be more inventive, creative, and successful, according to the majority of recruiters and managers. Even without looking at the statistics, which are many, it is intuitively clear that hiring for diversity improves performance as a whole.
It’s obvious then that by having diverse talent, you’ll have a diverse workforce that reflects members with different experiences and viewpoints on your team. This in turn will result in fresher, more varied ideas that can be used to address issues and promote creativity.
- Boosted creativity
Numerous studies have demonstrated that diverse workplaces foster greater creativity because of the neurodiversity that happens. The creativity of your diverse talent will work its way into the work that you do and the impact you have in your market.
- Better decision-making
According to research, diverse teams performed up to 87% more effectively than lone decision-makers when making business decisions. This study was based on data from a white paper produced by Cloverpop, an online decision-making tool.
- A rise in productivity
The more we can build a diversified workforce that emphasizes talents, skills, and abilities, the more beneficial an effect it will have on productivity.
- Increase in revenue
The financial risks that companies incur when they overlook diversity at the top has been underlined in one of the most recent papers from the consulting firm Mckinsey, titled “Diversity Wins.” According to their study, businesses with boards that were more racially diverse did 36% better than those with boards that were less diverse.
Other studies show that diversified businesses have cash flows that are 2.3 times larger than those of businesses with more homogeneous workforces. Companies with a diverse workforce have a 70% greater chance of snatching up new markets than organizations that don’t aggressively seek out and promote talent from underrepresented groups.
- Decreased staff turnover
A company culture that is typically more accepting of various personal traits and viewpoints enjoys better retention. Employees feel more respected and accepted as a result of increased inclusiveness. Low turnover rates are correlated with workplace diversity.
- More engaged employees
The fundamentals of engagement are very similar to those of decreased turnover. The more diversified the teams, the better employee engagement is.
Diversity in recruitment
Many talent acquisition leaders and recruiters who are trying to enhance DEI throughout their whole employment pipeline feel frustrated when their diversity recruiting efforts don’t deliver results as quickly as they’d imagined.
However, while their objectives are admirable, they’re frequently also unattainable. This is due to the fact that many organizations hastily develop a checklist of objectives or diversity efforts rather than concentrating on a plan that will ultimately benefit everyone.
Put simply, many hiring teams are doomed to failure by viewing DEI as a one-time project. They think, “hey, we’ve got this diversity recruitment strategy that we’ve put together so all we have to do is go out there, find a diverse candidate pool, hire a lot of diverse talent and we’re good to go.
While your job postings, interview process, and in fact, your entire hiring process should absolutely consider the need to recruit diverse candidates, there’s a lot more that goes into truly building an inclusive workplace.
Diversity recruitment strategy
To build a diversity recruitment strategy that helps your organization achieve true workforce diversity it’s important to start with the end in mind and be prepared to change the recruiting process you’re using now if it’s not working.
While connecting with job seekers and expanding your pool of individuals with diverse backgrounds is crucial, many talent acquisition leaders, human resource management teams and other HR professionals believe they lack the time to find and engage with diverse talent.
They also believe they don’t have the time to fix what exactly is wrong with their recruitment strategy or their hiring process to reach more diverse job seekers.
Thankfully, this is not the case.
Your recruitment process most definitely can – and should – include a focus on increasing workplace diversity, but if you don’t start with an open and honest dialogue about where you’re at and where you want to be, nothing will change.
What is your employer brand? Is your leadership team on board with your plans for increasing diversity? What about your employees? Have you successfully created an inclusive workplace? Would people from under represented groups be responsive to outreach from your talent acquisition leaders?
The greatest strategy to increase diversity in your applicant sourcing may be to naturally build an employer brand that values individuals and points of view from a diverse range of backgrounds. With your team, discuss the advantages and significance of diversity, win their support, and integrate these ideals into your business culture.
Do you have a diverse workplace?
Although there isn’t a true benchmark for assessing workplace diversity, there are ways to do so in accordance with your specific needs.
Begin by comparing who applys for open roles to who is actually hired. Teams might easily consist of several members who share the same age, background, ethnicity, etc. This can reveal a bias in hiring, thus it’s not only quantifiable as a statistic but also something you can immediately correct.
Second, take a look at your leadership team. This is the point where many organizations’ lack of diversity can be more clearly seen. You should develop diversity programs that aid in recruiting for these senior leadership positions if your junior or management teams are more diverse than your board of directors.
The third category includes inclusion and job satisfaction. Although they are not always related, there are specific subject areas that you may measure to help you better understand if people feel at home at work.
Building a diverse workforce
Diversity in the workplace has emerged as a contentious subject and a top concern for hiring teams.
According to a survey by the Society for Human Resource Management (SHRM), 57% of recruiters claim that their talent acquisition tactics are created to draw in candidates from a variety of backgrounds.
However, diversity in the workplace should be prioritized for reasons other than compliance.
The increase in diversity is tied to how team-oriented and collaborative modern organizations have become. It is clear that businesses who can successfully hire and manage a diverse workforce have a distinct competitive advantage.
Increased workplace diversity is a goal for all recruiters and talent acquisition leaders. Why then is it so difficult to make a difference?
Is it a pipeline problem, as is frequently claimed? Is unconscious bias the problem, influencing hiring decisions? Like with any complex problem, it’s all of the above. However, recruiters and other HR professionals can help their organization gain an edge in the market by helping them successfully achieve their diversity hiring goals.
Obtain leadership support
Including leadership in the entire diversity and inclusion conversation is crucial. Hiring managers and the entire C-Suite must be dedicated to creating a more diverse workplace and they must also understand the benefits a diverse workplace will offer. Leadership also needs to be aware of the distinction between culture add and culture fit.
Diversity in the workforce cannot be achieved without altering the hiring process, which will inevitably alter the selection criteria for internal hires and promotions as well.
It will probably require a lot of resources to change the way you recruit and keep employees, and there may even be resistance from your current workforce. You can handle these changes more easily if you have senior executives on board.
It’s just as critical, if not even more so, for your newly hired diverse employees to feel encouraged and welcomed by all. When they see representation at all levels of the organization, people are more likely to stay.
The only way to guarantee both time and financial resources is to have leadership support, which also positions your new plan for long-term success. This buy-in enables your team to possibly take bigger risks, such as altering how you recruit, the applicant pool you typically use, or adding DEIB specialists to your human resources department.
As a result, you will start to establish a reputation as an employer who values diversity.
Ask your diverse employees for their honest opinion about their experiences, and use that feedback as a component of your diversity recruitment strategy while promoting your employer brand.
Diverse applicants will look for employers who genuinely uphold these principles, and organic growth is the only way to properly reap these rewards.
Use data to empower your recruitment practices
DEI is a continual, constantly-evolving activity that engages every employee at a company and affects almost every element of work, rather than a project or issue to be resolved. We must keep pushing forward, measure results, draw lessons from prior results, and modify our course as necessary if we want to achieve long-term progress.
This entails paying close attention to the facts and insights that highlight your team’s gaps and issues, as well as your strengths and limitations. Examine your recruiting data, which focuses on candidate diversity, EEO surveys, candidate feedback, and your hiring pipeline to glean these insights.
This information can assist you in determining how diverse your hiring methods actually are, allowing your team to make more fact-based decisions as opposed to assumptions.
There is no way to qualify your efforts or identify which initiatives are truly having an impact throughout your business without tracking the development of your DEI initiatives. But because DEI affects every element of your organization, it can be challenging to quantify these efforts because some sectors may present more chances for growth than others.
Employers should also give more weight to additional indicators, such as offboarding interview insights, promotion and pay rise rates, and retention rates, in addition to the metrics already mentioned.
Target diverse candidates
Reach out to numerous platforms to gain a wider selection of prospects rather than focusing on hiring from a single source, such as an online recruiting platform.
A simple job posting on social media platforms such as LinkedIn or even Instagram might provide a larger sample than you may realize in addition to web recruitment.
You must choose the appropriate channels to publicize job openings to diverse individuals. For instance, there are a lot of offline and online groups for women in technology. This would broaden your search and focus it further on this kind of prospect.
Avoid unconscious bias
When it comes to a variety of subjects, we are all inherently biased. The types of music we enjoy, the friends we spend time with, the products we choose to buy over others, and so forth. The majority of the time, unconscious bias determines how we act, and when it comes to creating, and implementing a diversity and inclusion recruitment strategy, we want to reduce its influence as much as we can.
Unconscious bias training is one of the actions that may be taken for everyone involved in the recruitment process. When selecting candidates, from the C.V. stage through putting out a job offer, this will help to reduce some of the more human-prone errors.
Blind resumes are resumes where all personal information is “blacked out.” These are other tactics that can be used. Even if it’s not done intentionally, information like names, schools, dates of birth, certain places, and so on can all influence to some extent an assessment of the candidate.
Blind interviews are a different measurement that can be employed. It functions similarly to a resume but digs further into a candidate’s talents and competencies using text-based questions and several recruitment platforms.