Episode 3: Study Shows Diversity and Inclusion Programs Helps Recruit and Retain Top Talent
Over 75% women require or highly desire diversity and inclusion programs when considering a job offer. Interestingly, men were four times more likely than women to indicate that these programs were not critical over four times more than women. Additionally, only 15% of all men polled indicated that diversity and inclusion programs were required in accepting a position. As the data depicts, diversity programs are appealing to those it effects, which can not only attract potential employees, but maintain a high employee retention rate.
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Diversifying the workplace can also boost your company’s performance: Trailhead claims that gender-diverse companies are 15% more likely to outperform, and ethnically diverse companies are 35% more likely to outperform. Diverse executive teams are important to employees now, but are crucial for employees to see that they can advance no matter their gender or ethnicity.
What Does Diversity Mean, Exactly?
Differences comes in many forms, so how do you know who will benefit most from these programs? Below is a list of many types of diversity to keep in mind:
- Sexual orientation
- Religious affiliation
- Personality type
- Thinking style
This list can seem overwhelming, especially when applied to an entire workforce. Some types of diversity, such as personality type and thinking style, may not require extra training to benefit employees. However, consider training on other types of diversity as you seek to create an inclusive culture. Being able to participate in professional programs is advantageous to employees without much of a voice in professional settings.
A Closer Look at Diversity Inclusion Programs
Conferences are one of the main ways to communicate important information to large numbers of groups. They can also allow like employees to come together and become a community. Among other organizations, colleges (like Ohio State University and Rochester University) are stepping toward a more diverse future by organizing conferences specifically geared toward recognizing the value of race. Conferences like these increase diversity awareness within the industry. Other companies which put on diversity inclusion conferences surrounding include the Society for Human Resource Management, The Conference Board, and Diversity Abroad.
Employee Resource Groups
DiversityInc claims that there are four key reasons companies need employee resource groups (ERGs): recruitment, retention, talent development and market outreach. Working mothers, LGBT+ business workers, and thousands of others have all found positions which enabled them to continue in a way best suited to their needs. Employees that benefit from ERGs are less likely to feel disconnected from their work and collaborate on career roadblocks, all leading to a higher retention rate. These groups can also host networking events or attend job fairs— a vital asset for recruiting top-performing workers.
These programs can have a massive impact on the employees they help. As one of the most desired elements of a workplace, these programs make your company enticing to top talent.