Let’s Discuss DEI in Hiring
“We should indeed keep calm in the face of difference, and live our lives in a state of inclusion and wonder at the diversity of humanity.” – George Takei
You know at DyNexus Recruiting & Staffing, we try to stay current and relevant with our blog topic selections. You also know we don’t shy away from the hot issues. So let’s get right into it. Let’s discuss DEI (Diversity, Equity, and Inclusion) in Hiring.
WHAT IS DEI?
Wikipedia defines DEI (Diversity, Equity, and Inclusion) as organizational frameworks which seek to promote “the fair treatment and full participation of all people”, particularly groups “who have historically been underrepresented or subject to discrimination” on the basis of identity or disability.
These are three distinct arms. As Indeed points out, “without diversity in your employees, inclusion and equity aren’t that difficult. It becomes more challenging and more rewarding when your employees come from diverse backgrounds.”
Some of the main categories of diversity include race, ethnicity, age, socioeconomic status, gender, gender identity, sexual orientation and physical ability. Publicly, everyone would proclaim they hire the best applicants for the job based on merit and experience. But take a look at your workforce. Ask yourself if it’s possible that some biases played a factor in hiring decisions. Is the lack of diversity holding your business back?
According to NonProfit Quarterly, across the United States, Diversity, Equity, and Inclusion initiatives, programs, and offices are under attack. Measures targeting DEI have advanced in state legislatures across the country. A report by the Associated Press found that at least 30 bills similarly targeting DEI measures at colleges and universities have been advancing with lawmakers.
The Supreme Court recently ruled Affirmative Action in colleges and universities to be illegal. According to Work Life News, “The idea behind affirmative action is to level the playing field so that everyone has opportunities and equal access to higher education and then that feeds into the employment sector. When you start to remove this affirmative action, now the playing field is even less level than it was before. Employers now have to compensate for that lack in order to then continue to prioritize diversity, equity, and inclusion.”
Basically, certain groups have consistently had less access to basic education and financial resources. Those groups then have less access to college education, which hinders their job prospects. Removing Affirmative Action could potentially negatively impact the diversity of graduating students, making it even more difficult for companies looking to diversify their workforce.
According to the US Chamber of Commerce, there are 10.1 million job openings in the US with only 6 million unemployed workers. That means there are already not enough workers for the jobs that are available. Making diversity a priority in hiring can be challenging in today’s labor market. And it could get even more challenging in the future. But it is worth the effort. According to Marketsplash.com, Companies that prioritize diversity in hiring see a 19% increase in revenue. Oh, did that grab your attention? Well, you’re going to want to keep reading.
There are many benefits to making a concerted effort to implement DEI in your hiring process. As we just pointed out, one of these includes a 19% increase in revenue for companies that prioritize diversity in hiring. According to Globis Insights, that’s just the tip of the iceberg. Other benefits include:
- 2.3 times higher cash flow per employee
- Improved performance by up to 30%
- 87% better decision making results
- 25% greater likelihood of being more profitable
- 75% of companies surpass their financial goals
- Employees are 9.8 times more likely to look forward to work
- They are 6.3 times more likely to take pride in their work
- Stronger brand reputation
GETTING STARTED WITH DEI IN HIRING
If you already have DEI in hiring as a focus in mind when hiring, but you’re looking to improve the results, the US Chamber of Commerce has some suggestions. Make sure your policies reflect your goals for DEI. Educate managers about inclusion. Offer diversity training. Communicate your DEI goals and measure your company’s progress.
If you don’t already have a DEI initiative in place and you want to make that a part of your company culture, Jobvite has 5 great tips to get you started:
- Set DEI goals and identify underrepresented groups
- Engage stakeholders to incorporate them in decision making
- Modify your hiring practices to better reach diverse candidates
- Implement dedicated DEI training and inclusion programs
- Measure the success of your DEI efforts
Look, we get it. In this labor market, it’s hard enough to find good talent to fill job openings. Making a conscious effort to incorporate Diversity, Equity, and Inclusion into your hiring process seems daunting. And no ERP solution or job position is immune from the challenge. Acumatica Consultants, Sage Developers, Business Central Administrators, and Odoo Sales Executives are all in the same boat. But it’s not only fiscally beneficial to your company and your employees, it’s just the right thing to do. And we here at DyNexus Recruiting & Staffing would love to help you with your hiring needs and to assist you in focusing on DEI in your hiring process.