THE IMPORTANCE OF HIRING FOR DIVERSITY TODAY

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2 THE IMPORTANCE OF HIRING FOR DIVERSITY TODAY The latest census results substantially confirm that the global ethnic makeup of the workforce is changing at a rate faster than anyone has anticipated. The data tells us that by 2050, there will be no racial or ethnic majority in the United States, and North America and Europe are only expected to produce 3% of the world s new labor force over the next 10 years. Minorities are the fastest growing part of the labor force. By 2014, white men will only be 43% of the labor force with woman and minorities making up 57% Hispanic labor force is projected to grow 34% by 2014 Asian labor force is projected to grow 32% by 2014 African American labor force is projected to grow 17% by 2014 As a vital part of any thriving organization, what must be understood about Diversity is that it goes beyond color. Diversity is centered around understanding and embracing each other s differences: The where, why, and how of the way people look at things differently. Diversity & Inclusion must go hand in hand for a truly cohesive work environment. Diversity fosters creativity. We need to generate the best ideas from our people in all levels of the company and incorporate them into our business practices. - Frederic Roze, CEO of L oreal USA, told Forbes Recruiting for Diversity 2

3 Companies with an inclusive workforce have shown reduced costs associated with turnover, absenteeism, and low productivity. Inclusive work teams have a broader base of experience from which to draw when problem solving. This presence of varying views creates a higher level of critical analysis, increasing creativity, innovation, and revenue. Studies have shown time and time again that diverse professional teams produce scores higher than non-diverse teams. According to a recent Forbes study: Recruiting for Diversity 3

4 HOW DO WE ATTRACT DIVERSE TALENT? Try following these steps to accelerate your organization s Diversity Hiring Initiatives: 1. Include Diversity Efforts in your overall company policy. Emphasizing your stance on the importance of a diverse workplace, including an anti-discrimination policy, is crucial to the organization s overall commitment to its efforts 2. Establish minimum requirements for positions and keep them regardless of color or background, exemplifying your organization s commitment to diversity 3. Identify publications, local and national organizations, and community networking events that will help you connect with diverse candidates both online and offline 4. Continue to ask employees for referrals, including staff members from minority groups who may know someone who is qualified for the position 5. Emphasize your organization s commitment to a diverse workforce, emphasizing details that will attract a more diverse candidate pool in your recruiting efforts 6. Provide diversity training in your workplace, with an understanding that each position is filled with the best candidate regardless of race, ethnicity, background 7. Be accommodating to the needs of diverse candidates such as observance of holidays and other cultural offerings offer flexible scheduling to accommodate these needs 8. Establish a Chief Diversity Officer within your organization to achieve consistency with the organization s overall diversity message. This individual will drive diversity throughout the company 9. Update your company website and materials to reflect the organization s emphasis on diversity and inclusion, emphasis on the importance of these beliefs 10. Be up front about your organization s diversity initiatives when interviewing candidates let them know this is the organization they are looking for in order to feel comfortable as a diverse employee. Recruiting for Diversity 4

5 COMMON ISSUES WITH DIVERSITY INITIATIVES A lack of honest criticism toward Diversity programs is what often causes these initiatives to fail; instead, honest dialogue regarding Diversity is needed to truly understand its importance. In addition, a lack of clearly outlined goals, a lack of support, and a lack of training and organizational development can lead to failure of diversity hiring initiatives. According to Americanprogress.org, minorities and women only represent about 14.5 percent and 18 percent of corporate boards among the senior management of Fortune 500 companies. Additionally, 41% of companies do not have an executive-level employee in any of the following demographics: African American, Hispanic, Asian. Recruiting for Diversity 5

6 A CHANGING GLOBAL WORKFORCE Businesses must continue to adapt to a changing world to remain competitive in today s industries. Many organizations are beginning to understand how crucial Diversity really is It s no coincidence that these organizations are the ones operating at full speed. Diverse organizations generate profits and create new products at a greater rate than those who don t embrace Diversity and Inclusion. These organizations do not fear focusing on differences and have acknowledged that understanding Inclusion is the responsibility of the company. Recruiting for Diversity 6

7 About Qualigence Qualigence International is the largest Recruitment Research and professional search firm in the United States, and proudly serves as a unique alternative to traditional retained or contingent recruiting models. Recruiting for Diversity 7