Most hires are made with a reactionary mindset – leadership detects a vacancy, then HR scrambles to find a fit. Quality people are brought into the fold, but organizations rarely broaden their perspectives or change internal functions in meaningful ways unless pushed. Without knowing it, these companies are missing out on a simple way to increase overall profitability: diversifying talent.
The ongoing McKinsey & Company studies of diversity find that when organizations increase diversity by 10%, profitability grows by 8%. The intentional commitment to diversity hiring and hiring people of distinct cultural experiences, varied backgrounds, and different genders brings together a variety of unique perspectives that are shown to push boundaries and innovate.
That said, hiring for diversity and inclusion is nuanced – we’ve put together a few tips on how to hire more intentionally (AKA how to ensure any bias gets checked at the door during the hiring process).
Start by assessing the marketplace – how does your business compare to demographic averages in the industry?
Gauging benchmarks is an important first step to driving greater diversity and inclusion at every level of your organization. There are a number of excellent resources that provide reliable statistics on demographics in the workforce and their inclusion across different organizational levels – let’s look at the McKinsey Women in the Workplace 2020 as one example.
In this report, white women make up 26% of managerial positions and 19% of C-suite positions, both lower than their 38% representation in the overall U.S. population. Women of color have even less representation, with only 12% working in management roles and 3% in C-suite.
Mapping out your current representation based on gender, ethnicity, age, religion, nationalities, and physical abilities allows you to identify where to prioritize intentional actions in your diversity hiring process. From there, you can take steps to retain and broaden your workforce.
Greater diversity and inclusion depend on deliberate action at the top of the recruitment funnel. Limiting your focus to the local talent pool can harm the growth of your business – when and where you’re sourcing talent could drastically alter the demographics of the professionals available to you.
There are a couple intentional sourcing strategies that we’ve seen growing in popularity:
To effectively attract talent, it’s important to develop a candidate experience that meets the unique needs of diverse individuals. You need to understand their perspective and what they require to flourish within your organization. For instance, here’s some insight on:
One way to improve the candidate experience and get the attention of strong candidates? Deploying a structured interviewing process to ensure that hiring decisions are consistent and made based on a candidate’s ability to demonstrate the competencies required for the role, rather than on snap judgements made by interviewers during the interview process.
Remote hiring software like interviewstream also enables businesses to reach talent all around the world, offering a candidate experience that’s consistent, interactive, and convenient.
With it, we’ve seen companies improve their impression on candidates by 90%. Not only does the platform help you find and attract diverse employees, it can ensure that you’re standardizing your processes across the board to avoid bias at the same time.
Diversity hiring is not a single step, nor is onboarding and supporting diverse employees – these few strategies are just a kickoff point to help you move in the right direction.
When it comes down to it, what’s really important is cultivating an environment, starting from an employees’ very first interaction with your business, that drives growth and improvement. In doing so, your organization is bound to see your people, and your success, soar.
Take the first step right now when you learn more about the importance of hiring the right candidates for your organization, how to recruit and hire ideal team players, and what really happens when you hire the wrong candidates.
Monique Mahler is the VP, Marketing & Partnerships at interviewstream. She is an avid researcher of facts, a self proclaimed marketing geek, and an equestrian in her spare time.