Diversity, Equity, and Inclusion in Hiring

Diversity, equity, and inclusion, or DEI, has become an increasingly important and talked-about topic of late.

Noted as one of the top 5 HR trends and priorities for 2022 by Gartner, organizations are facing growing pressure to incorporate DEI initiatives into their workplace culture and operations. Along with the growing emphasis on employee wellbeing and flexible working conditions, DEI should be one of your top priorities for this year – if it isn’t already.

What is DEI, and why should you care?

Diversity is the presence of differences within a setting. This might include differences that are visible, such as those in race, age, or ethnicity, as well as ones that are not – gender identity, sexual orientation, or religious beliefs, for instance. 

Equity is the act of promoting fairness and impartiality within procedures, programs, and processes for everyone within the organization.

Inclusion ensures that diversity is made to feel comfortable – it’s when all employees have a sense of belonging and support and feel respected in the workplace. Of course, it’s possible to have a diverse group of people in your organization, but that doesn’t automatically mean they feel included. 

While a good DEI strategy may sound like it only benefits the employees, the truth is that happier employees translate into advantages for your organization and bottom line, too. 

As an article in the McKinsey Quarterly from 2020 states,

Over the past five years, the likelihood that diverse companies will out-earn their industry peers has grown. So have the penalties for companies lacking diversity

Why DEI matters in recruiting

DEI is at the heart of a company’s culture. Even before the pandemic changed the types of benefits that companies would offer (free snacks and ping pong tables aren’t much use when most employees are working from home), Glassdoor found that over 77% of adults surveyed across the US, UK, France, and Germany would take a company’s culture into account before applying for a job. In fact, over 50% of respondents even prioritized company culture over salary when it came to job satisfaction!  

Making DEI a priority during the hiring process is key to having happier employees overall.

The very real advantages of committing to DEI

Hire and retain top talent

As Forbes found in this study on global diversity and inclusion,

A diverse and inclusive workforce is crucial for companies that want to attract and retain top talent. Competition for talent is fierce in today’s global economy, so companies need to have plans in place to recruit, develop, and retain a diverse workforce.

The flexibility of remote work has widened the talent pool in certain ways. For example, single parents may find they have more opportunities for work that would have been difficult previously. A good DEI program, particularly when hiring, will ensure that nobody is overlooked in the talent pool.

Improved leadership and innovation

86% of millennials feel that differences of opinion allow teams to excel, yet only 59% felt their leaders share this point of view.

The same study found that 83% of millennials are actively engaged when they believe the organization fosters an inclusive culture, as opposed to only 60% that are actively engaged when they feel the organization does not have an inclusive culture. DEI leads to better levels of engagement, which in turn means higher productivity. 

Not convinced yet? Well, as stated in an article in the Harvard Business Review,

“Leaders who give diverse voices equal airtime are nearly twice as likely as others to unleash value-driving insights, and employees in a “speak up” culture are 3.5 times as likely to contribute their full innovative potential.”

So the question is, have you incorporated DEI initiatives into your hiring process yet?