We show you how to think about diversity more broadly and create an inclusive company where talented people want to work.
Demographic realities reveal why your company must embrace diversity and inclusion. Within the United States, the era of a primarily white workforce has ended. An article from CNN Money makes this clear. Out of 76 million Baby Boomers, 72% were white. Among the Millennials and Generation Zs, 56% of people in these age groups are white. A company that reflects the demographic makeup of its customers can create stronger relationships with customers. This can translate into greater brand loyalty and more dollars spent. As for hiring, the value that you place on diversity directly influences how job candidates perceive your organization. Surveys conducted by Glassdoor showed that 67% of job seekers take a company's diversity into account when considering a job offer.
Researchers have built a conclusive picture about how diversity pays off. A 2018 study in the Harvard Business Review showed that companies with the greatest diversity were the most innovative. They developed more products and services than competitors. When comparing companies within an industry, the most diverse companies earned above-average profits. A McKinsey report detailed the strong relationship between high-diversity workforces and higher earnings. Shareholders of organizations with a strong female presence in C-suite positions received 34% more returns according to Fast Company. Although the ROI of diversity is easy to see, you must not overlook the vital element of inclusion. Hiring people from different backgrounds is a great start, but, if those people do not feel included, then the benefits will be elusive. Diverse people throughout your company need to know that they are welcomed, valued, and heard. Under those conditions, they can improve customer relations and innovate. Sprinkling different people throughout a workplace accomplishes little when their views are dismissed. If they are just there to "check off a diversity box," they will feel uncomfortable and unable to contribute effectively. Our consulting services will make the difference on your journey to building an inclusive work culture.
Through employee surveys, focus groups, and interviews, we evaluate diversity, equity, and inclusion at your organization. Although we strongly believe that the greatest returns come from diversity and inclusion at all levels, we know that change starts with leadership. We conduct training for hiring managers, talent acquisition teams, and senior executives. We offer in-person training, one-on-one training, and online courses. Our training and conversations with your leaders and workers will result in a custom action plan for your business. We will show you how to develop a team that keeps your company competitive.
Our consultation services provide you with actionable ideas that will ultimately improve the bottom line. Do not assume that an off-the-shelf solution will unlock the results that you desire. To find out exactly what your company needs to do for diversity, contact us today.