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Diversity is no longer a buzzword. It’s business-critical.
Most of us would agree that diverse hiring is a positive thing for the economy, however, it goes without saying that for many, it’s still a highly contentious topic. Hiring with diversity in mind is no easy task: among those businesses who have embraced it, hiring managers continue to struggle with meeting the diversity quotas they’ve been set. Ironically, as recruiters we also find ourselves considering fewer candidates when we know there’s a quota to fulfil.
Despite all this, global thought leaders agree that there are great benefits afforded to businesses who adopt diverse hiring, and that those benefits far outweigh the challenges faced in the process.
1. Improved employer branding
Recruiting a range of candidates from various backgrounds is still, unfortunately, an unusual practice. However, the advantages of diverse hiring will position you as a market leader who thinks beyond traditional stereotypes.
For example, it’s a fact that emerging generations like millennials are actively seeking more diverse workplaces; understanding this and their motivations will help you in your recruitment communication; using the right tools to engage them will strengthen your employer branding and position you ahead of your competitors too.
2. It makes you a better hiring manager
We are, sadly, influenced by unconscious and conscious bias daily. Embracing diversity when hiring will encourage you to challenge yourself because you’ll be pushed to stretch traditional boundaries and think outside the square. In doing so you’ll also need to seek new and innovative methods of hiring great talent!
3. It makes our job easier
Culturally, organisations that embrace inclusivity and diversity within the workplace are ones that tend to prize respect and collaborative practices. It goes without saying that when we’re speaking to candidates – whatever their ethnicity, sexual orientation, age or background – if we’re able to speak about those values that are intrinsically embedded into the business culture, it will undoubtedly make you a more attractive employer.
And it’s both attraction and retention of talent that promises to be improved. McKinsey’s Diversity Matters report  shows there to be a real correlation between stronger diversity and increased employee satisfaction.
Finally, if we’re opening the doors to more candidates from a range of backgrounds, we’re much more likely to win the war for talent and overcome the hurdles to finding suitable candidates.
4. Good for business
McKinsey’s report explains how ‘companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians’. Put bluntly, if you’re making more money, it’s better for you and better for the economy. Embracing diverse hiring means you’ll be working more innovatively too which will also contribute to enhanced company performance.
Recruiting diverse talent future-proofs your businesses as you’ll strengthen your long-term management pipeline. To maintain levels of success, your future leaders will need to develop and equip themselves with the tools required to deal with varied ways of thinking.
If you’d like to speak to us about your next recruitment drive, don’t hesitate to get in touch.