As our country becomes increasingly more diverse, workplaces are beginning to reflect that. It is no longer acceptable for employers to have a linear approach to hiring. Candidates are looking for workplaces where they can feel respected and valued. Most importantly , they seek employment at companies that they feel represented in. Additionally, employers are seeking to compete in an increasingly competitive global market, and will have to hire a staff that reflects that. According to The Brookings Institution, minorities are now projected to be the majority by 2045 in the United States. This means that it will no longer make sense for employers to continuously exclude people of diverse backgrounds. Prioritizing diversity in the workplace is now a requirement. Increasingly employers are starting to realize the value in employing people who are diverse because they bring different lived experiences to the table. Employees who are diverse in thought as a result of their cultural differences, can elevate your team, and take your company to the next level. This can be achieved because diverse new hires typically offer new ideas, and a different approach to researching and completing the duties of their respective jobs.
It's not Just about Race
Diversity and inclusion encompasses a multitude of categories, including religion, gender, socio-economic status, and physical ability. Even though many companies believe they only have to be inclusive when it comes to race and gender, these other categories are just as important. It is key for many companies to note that demographics are changing, and millennials now make up the largest portion of the job force, and Gen-Zers will soon follow. Data shows that millennials increasingly want to work for companies that have visibly diverse and inclusive hiring practices. Younger job seekers value work environments that foster inclusivity and positivity. This also means that your company should do more than just hire people based on their race for face value. Catering to the needs of your employees in an empathetic and understanding way, and being cognizant of and addressing issues that may arise head on. Initially , it can be hard for your organization to adapt to an inclusive work environment because your team may ideologically differ on a variety of topics. When you foster a healthy work environment, these differences can be handled properly. When hiring, don’t focus too much on the numbers. This means that you shouldn’t come up with an arbitrary number of people to hire based on their race, because qualification still matters. Building a staff of people who are diverse that make the hiring decisions will increase the likelihood of a multicultural and multiracial team.
Studies have also found additional benefits of fostering an inclusive work environments. The overall quality of life is improved if stress levels are lowered. One of the biggest indicators of a successful company is measured by the job satisfaction of the employees. Many employees report feeling stressed and uncomfortable in working environments that cater to the needs and wants of one group as opposed to the collective. In short, people care just as much about equity and equality, as they do about diversity.
How Diversity Can lead to Company Profitability
According to Forbes, companies with culturally and ethnically diverse teams saw an increase in profits by 33%. Additionally, there is some evidence of women lead organizations increasing their profitability margins by 21% and having 24% higher revenue growth. There are many reasons attributed as to why companies that are diverse fare better fiscally. Overall, there is an increased internal and public awareness and appreciation for diversity and inclusion. Generally, people are more inclined to support companies that make an effort to be inclusive. A diverse staff can have a positive affect on your company’s reputation, and can increase the likelihood of broadening your consumer base. With a diverse staff, companies lower the risk of tone-deaf marketing and advertising campaigns, that may be interpreted as insensitive. As an added bonus, racially motivated internal disputes can be handled effectively in-house.
How to Combat Implicit Bias
To combat implicit bias, companies can implement a number of training programs, including training geared towards racial sensitivity. In fact, Starbucks closed all of their stores in April of 2018, after two black customers were racially profiled and asked to leave by a white Starbucks manager. Many customers appreciated Starbucks initiative and willingness to learn from their mistakes. As a result, they recovered from the scandal. Companies can learn from experiences like this, and properly manage a crisis by acknowledging and learning from the mistake. Upper level management needs to reflect the values of the company, and act in alignment with those values. Large companies like Pepsi and Johnson &Johnson are hiring in house consultants to implement effective diversity initiatives. These initiatives are designed to prevent misunderstanding and cope with the reality of unconscious and implicit bias.
(PAUSE model)
How NN Tech makes Diversity in the Workplace a Priority
At NN Tech, we take pride in the diversity of our team. Hailing from all over the world, our team consists of individuals from all backgrounds and ethnicities. We pledge to provide programs and services that support an inclusive work environment. Even though our team is small and growing, we are committed to listening and learning about any concerns our team members may have.