Diversity, equity, and inclusion are the three components that should be part of every company’s hiring strategy. Basically, DEI hiring is the recruitment strategy where candidates are picked based on their talents instead of age, race, gender, sexual orientation, and other unrelated aspects to their job performance.
According to a study, resumes with white-sounding names are more than twice as likely to get a call back as those with black-sounding or foreign-sounding names. DEI culture aims to introduce equality by removing potential prejudices in sourcing, vetting, and selecting candidates. Besides, diverse companies perform 35% better than their non-diverse competitors.
How do diversity, equity, and inclusion help businesses maintain and retain great teams?
Various surveys state that diversity and employee retention are directly proportional to each other. When employees feel connected to the company, they are more likely to contribute toward its success and stay longer. According to a Deloitte study, 83% of millennials showed higher work engagement after believing that their employees supported inclusive workplace culture. Also, a 2019 Yellow survey states that 70% of workers consider switching companies if their employers don’t support DEI culture. If you are searching for an effective way to reduce employee turnover and boost your brand’s performance, diversity and inclusion may help you move forward.
How do diversity and inclusion impact a workplace?
An inclusive workplace culture goes a long way in helping employees feel safe, confident, and included. If employees feel they can voice their ideas without fear of rejection and negative repercussions it creates a remarkable increase in productivity.
Workplace diversity and inclusion are a great way to breed productivity because when people from different backgrounds, cultures, and countries sit together in a room, they feel connected to the company. They put forward diverse ideas leading to a variety of solutions that ultimately leads to a more connected and productive team.
This is exactly why a Gartner study predicts that 75% of companies with the diverse workforce will exceed their financial goals by 2022. Considering all this, it’s clear that diversity and inclusion significantly impact businesses, and more companies should focus on adopting DEI culture.
What are the challenges involved in training and managing diverse teams?
While workplace diversity has many benefits but there are a few challenges that HR teams and training departments face.
Communication problems are common for companies with diverse workforces. For example, you may find someone doesn’t speak English, or doesn’t speak it well. There are cultural and religious aspects that need to be accommodated and some special needs technology so everyone on the team is fully included. Human resources will generally all levels of DEI are incorporated within the organization.
While different ideas and perspectives are great for innovation, they can also slow down the progress toward goals. Managers will want to evaluate the various opinions and options before making decisions.
Diversity in the workplace has many values but can also lead to some groups not feeling supported and valued. Ensuring everyone is included and feels valued is no small task. It starts at the executive level and should be heavily promoted by the HR department and the entire management team. It should be incorporated as part of the company culture.