Workplace diversity has long been a prominent topic of discussion among business leaders, and rightly so. With organizations working towards creating an inclusive environment, things are inevitably changing for the good.
According to diversity and inclusion insights from McKinsey, reducing the gender gap by 2025 could boost GDP by an additional US$ 12 trillion. But there’s still a long way to go. And there are many areas to focus on. For instance, McKinsey outlines how vital Latinos are to the US economy’s revenue, but only 5% of Latinos are found in positions of power within corporations, and only 1% of these are Latina women. The numbers for other minorities and vulnerable groups are not too different. Whether taken individually or together, these numbers are alarming because they show how corporate culture develops and is carried on for succeeding generations.
There are serious steps that need to be taken to create a diverse workplace in order to close the likely revenue gaps and increase inclusivity.
Challenges in Creating a Diverse Workplace
Hiring Challenges
The hiring challenges can be the biggest obstacle to establishing and growing a diverse workplace. Finding the best talent that balances potential without compromising on diversity is critical but can be difficult. Then there are well-documented problems with biased selections and the associated lack of inclusivity.
Let’s face it, selections occasionally suffer from biases due to the subjective opinions that individuals in hiring positions may have. This creates problems for the workplace and can hinder certain groups from being hired and subsequently represented in the workplace.
Such biases may pertain to age, familial status, ethnic background, gender identity, socioeconomic background (SES), or sexual orientation. One example of a bias could be the fact that women are less likely to be considered for more technical or strategic roles. A McKinsey study found that only 52 women are promoted to the managerial level for every 100 men.
Inability to Nurture and Exhibit Inclusivity
People stop applying for particular roles or institutions as a result of negative experiences in order to avoid conflict or unpleasant scenarios. People need to trust before they invest their time and effort in the hiring process, and companies fail to demonstrate their true intentions by being unable to brand themselves as inclusive. Google is a great example of a company that values inclusivity because the candidates know what to expect there.
These obstacles prevent the companies from achieving DEI objectives. However, there are many ways to deal with these difficulties.
Let’s take a look at five ways in which modern corporations address the inclusivity challenges.
5 Ways in Which Modern Corporations Can Address These Challenges
Changing the Hiring Process
If the DEI objectives are not being achieved, then there may be a problem with the hiring procedure and how the diversity issues are being handled. The hiring process needs to be thoroughly improved. That’s where working with a managed services partner can be beneficial in a variety of ways – from bridging the talent gap to bringing together diverse talent looking for the right opportunity.
Focusing on Supplier Diversity
Businesses must welcome diverse suppliers who can meet their needs better than what is already out there. Supplier diversity is a hot topic, and a survey by The Hackett Group outlines that supplier diversity spending can increase by 50% by 2025. Not only does this open avenues for increased innovation and creativity, but it also provides a blueprint for moving towards creating inclusive workplaces.
Data-Driven Selection Process
It’s critical to introduce an objective selection procedure. Random beliefs ingrained in the interviewer’s subconscious can put the applicant on edge, and they may not prefer working for a business that is insensitive to diversity. A data-driven selection process can do wonders for the best outcomes and overcome this challenge.
Promote and Publish Inclusivity Data and Opinions
The best way to make people feel safe working for you is to present yourself as an inclusive workplace. By providing such a summary and developing such a brand image, a business will be inspired to encourage more people from diverse backgrounds to apply for the open positions. A study found that 64% of millennials are uninterested in working for organizations that don’t prioritize CSR. This demonstrates how crucial it is for businesses today to put effort into making everyone feel comfortable at work.
Mentorship Program
To keep up with changing workplace demands, corporations are pursuing gender-neutral activities. The mentors guiding an organization through the same assist in staff mentoring and gradually improve the overall work culture. These programs are very good at making people feel safe at work and improving inclusivity and diversity on the whole.
Wrapping Up
The challenges associated with diversity or inclusivity affect a sizeable portion of the talented and qualified workforce. That’s why it’s crucial to rely on a staffing partner who excels at providing a top-notch, diverse workforce across a range of verticals.
Finding the right talent to meet the demands of the organization’s primary goals while upholding DEI commitments is our area of expertise at Trinus. To learn more about our solutions, get in touch with us.