Lately, we’ve been hearing from clients who are looking at diversity and inclusion (D&I) in ways that were simply not done in the past. Regulations and hiring quotas are only part of the picture. Today, companies are also focused on staying ahead in the battle for talent by translating a diverse workforce into a business advantage. But what does it take to attract, hire, and retain this critical part of the worker population? As experts in talent acquisition, we’re pleased to help our clients and other strategic planners take on that discussion, with the release of “Talent, Business, and Competition: A New World of Diversity and Inclusion.”
The report takes a talent acquisition view on the modern and rapidly changing environment for hiring and retaining diverse workers. We draw on more than three decades of talent acquisition experience, extensive research, and survey responses from 500 HR leaders. We identify the key drivers of D&I – the business case, the people involved, and the influences on talent acquisition and the employee experiences – and share insight on fighting the unconscious bias that underlies nearly every D&I challenge, recruiting for a diverse workforce, and building an inclusive employee culture.
“The report provides an informed foundation to help companies move the D&I conversation forward and overcome challenges,” said Andy Hilger, president of Allegis Group. “D&I should be more than just talk as it delivers real business benefits impacting areas from financial performance to innovation. Furthermore, it’s not just about hitting hiring numbers. The overarching goals of initiatives can only be achieved and sustained by implementing fundamental best-practices and cultivating inclusiveness.
“Decision-makers must understand the issues, ask the right questions and consider the implications on recruiting and talent management,” added Hilger. “While there’s no single formula for success, this report can be a valuable resource for exploring a critical area that should now be on every talent and business leader’s radar.”
As a part of our research for the report, we surveyed senior human resource (HR) executives on company D&I initiatives. Results show that despite claims of being committed to D&I, many companies are failing to “walk the talk” by falling short in key practice areas.
“For example, when it comes to progress on company D&I initiatives, 71.5 percent of respondents said “we have a strategy and are making progress” or “we’ve arrived.” Yet, only 37.2 percent reported having diversity hiring goals, with just 30.6 percent saying they have fairness in compensation as a goal for their organization. Likewise, only a small portion of respondents claimed D&I goals exist in other areas affecting the employee experience, including leadership and development nominations (11.4 percent), mid-level promotions (10.7 percent), and senior-level promotions (10.2 percent). Further, when asked what D&I best-practices their company has in place, 26.5 percent reported none, the leading response – indicating that no D&I best-practices exist for mentorship, training and awareness, employee resource groups, sourcing and recruiting for diverse groups, and tracking diverse employee pay and promotions.
Talent, Business, and Competition: A New World of Diversity and Inclusion” includes perspectives on what works and what does not in D&I, goals and metrics for program measurement, best practices for candidate evaluation and selection, addressing the culture behind pay disparity, and using inclusiveness to boost performance. Also, articles from Allegis Group experts address critical trends on how D&I commitment touches businesses, D&I and the C-suite, talent strategy for fighting bias, and technology innovations for eliminating bias.
Allegis Group’s “Talent, Business and Competition: A New World of Diversity and Inclusion” is available for free download at www.AllegisGroup.com/Diversity.