In many workplaces, Diversity, Equity & Inclusion (DEI) are often just treated as buzzwords. But we think it’s time for a little less conversation and a little more action.
It’s no secret how incredibly beneficial diversity in the workplace is. Not only for boosting company culture, but for achieving better performance and profitability. But, if you’re not putting the right processes in place while recruiting, how can you be sure you’re building the best teams?
This is why we’ve created our introductory DEI Hiring Toolkit: Less Talk, More Action. Covering key stages of hiring, we've taken our DEI learnings as a global recruiter to uncover the basics of hiring the right people for your roles - creating more diverse, inclusive & successful teams as a result.
Because hiring with DEI at the forefront of your process matters. Not just for improving your company culture and productivity - but because it’s the right thing to do.
We've also collected valuable insights from those who truly know what they're talking about. In our 'Stories' section, you'll discover first-hand experiences and advice.
Diversity refers to differences within a given setting. In a workplace environment, this usually involves physical, social, and psychological differences that occur between individuals. A diverse organisation is one in which multiple social and cultural characteristics exist.
Equity means making sure everyone has access to the same opportunities and advancements. In the workplace, this should involve providing support based on the specific needs of the individual, ensuring everyone has equal opportunity to succeed.
It’s easy to make the mistake of thinking equity and equality are the same, but they are different. For example, take this analogy: Three children are trying to look over a fence, but they are all different heights. The tallest child can easily see over, whilst the other two can barely see anything because they are shorter. Equity will only be achieved if the two shorter children are given something to stand on - therefore increasing their height and giving them the same opportunity to see as their taller classmate.
Workplace equity must identify and eliminate barriers that prevent everyone from having access to the same opportunities.
Workplace inclusion typically centres around three main elements: support, respect, and belonging. When combined and achieved properly, your employees should feel like they truly belong in their workplace environment - with access to the support they need to thrive, while feeling respected regardless of their background.
Vernā Myers, Founder & President of The Vernā Myers Company, VP of Inclusion Strategy at Netflix & leading DEI expert.
We get it, hiring can be hectic and busy. And if you bring changes into the mix, it could feel like yet another time-consuming task added onto your list. Is it really worth it?
The simple answer is yes, 100%. Not just because it’s the right thing to do ethically, but hiring a more diverse range of people (and building a more inclusive company culture) will deliver a wealth of value to your organisation.
This McKinsey report found gender-diverse teams are 25% more likely to have above-average profitability than less gender-diverse teams, and companies with ethnically-diverse teams have a 36% higher chance of being more profitable than less diverse companies.
A diverse working culture statistically increases job satisfaction for employees, and improves levels of trust and openness when communicating. The happier your people are, the more likely they’ll stay - helping solidify your teams and increase staff retention.
Diverse management teams lead to higher revenue. A study by BCG found management teams with above-average diversity achieved 19% more innovation revenue than companies with below-average leadership diversity.
This People Management study found that when diverse teams made a business decision, they outperformed individual decision makers up to 87% of the time. This demonstrates a direct link between inclusive decision making and better performance.
A Deloitte survey of 1,300 full-time employees found that 80% of respondents see inclusion as an important factor when choosing a new employer. If you’re not working to improve your DEI efforts, you could lose out on today’s top talent right from the get-go.
Research from Harvard Business Review shows diverse companies are 70% more likely to capture new market opportunities.
Our DEI toolkit is a great place to start if you’re looking to implement some fundamental changes in your recruitment processes but if you are truly committed to making tangible changes in both the short and long term, Talent can help.
We are partnering with global organisations across multiple industries to help them unlock the power of increasing diversity within their digital teams. Truly impactful DEI recruitment strategies and policies need to be uniquely tailored to your organisation and company culture. Find out how Talent can help with a free informal chat with one of our local experts.
So, can you truly say you’re walking the talk?
