With top talent in life sciences, healthcare, and cybersecurity in such high demand, more and more companies are developing strategies to attract diverse candidates to their organizations. There are many business reasons why diversity recruiting is becoming a high priority for both small and large enterprises. Research shows that the most diverse enterprises are the most innovative, with 19% higher innovation revenues and 9% higher EBIT margins on average. Inclusive teams make better decisions as much as 87% of the time. Decisions made and executed by diverse teams delivered 60% better results. So, what are the techniques companies can deploy to create diverse candidate pools for their important roles?
In this blog, we will share some of our best practices and strategies that HR professionals and company leaders can use to build diverse candidate pools that are reflective of their communities, customers, and clients.
Celebrate Diversity
The organizations that recognize and celebrate the power of diversity to create positive change are those most likely to foster an internal workplace culture that values differing backgrounds and perspectives and are willing to do the work needed to develop a truly effective diversity recruiting strategy. That includes acknowledging and disrupting unconscious biases in the hiring process, emphasizing cultural competence and humility, and striving to foster an engaging and inclusive workplace where all voices are heard and respected.
Source Broadly
One of the most important things organizations can do to create a diverse candidate pool is to go beyond their existing networks to cast a wide net and source broadly. By tapping into national organizations that track workplace race/ethnicity, disability, sexual orientation, and military status, companies can enhance their recruiting efforts. They can further expand their reach by engaging Historically Black Colleges and Universities (HBCUs) and other similar associations that help advance the career aspirations of diverse young people. Companies should also post their job openings on a variety of online job boards and social media platforms that will reach a large number of people. By sourcing broadly, you increase the chances of finding a diverse group of candidates who can bring unique perspectives and experiences to your team.
Go Beyond Your Established Networks
Your company’s existing and trusted networks are key partners in amplifying your reach when promoting job openings. Relationships do matter, so while it is therefore incumbent on HR and company leaders to reach out to respected peers to seek their input on potential candidates, the process can’t stop there. In the pursuit of building strong teams, companies must exercise caution when relying exclusively on referrals from existing networks as it may inadvertently perpetuate the hiring of individuals with similar backgrounds and experiences. By expanding their recruitment strategies outside existing networks, companies are proactively opening doors to a diverse pool of candidates. It is also important to engage your current diverse employees when seeking references for open positions.
Communicate Your Company Values
It’s incumbent on companies today to communicate their core values around diversity, equity, and inclusion (DEI) clearly and consistently on as many platforms as possible, including their websites and social media channels. By doing so, companies and their leaders send a clear message to myriad communities that they are vested in DEI and are prepared to make the investments necessary to advance their diversity recruitment efforts.
Foster a Culture of Inclusion
Finally, it’s important to create a workplace culture that is welcoming and inclusive. This means going beyond simply hiring diverse candidates by actively working to create and sustain a culture that values and celebrates differences. At Slone Partners, we ensure that all members of our team undergo training in cultural competence and unconscious bias, and we encourage ongoing education and discussion around inclusion and diversity. By fostering a culture of inclusion, we create an environment where all employees are valued and feel supported.
Conclusion
Creating diverse candidate pools is critical for any company seeking to capture the best talent who can help drive success. By celebrating diversity and communicating their core values, companies put a stake in the ground. By leveraging existing networks, sourcing broadly, and fostering a culture of inclusion, they can attract the wide pool of diverse talent they seek for important positions. Diversity, Equity, and Inclusion Strategies by Slone Partners can help your organization develop a customized diversity recruiting strategy, education and training programs, and leadership coaching protocols. Contact our Managing Director of DEI Candace Nortey for more information: candacen@slonepartners.com.