Where Is Your Welcome Sign?
Ideas On How To Become A More Attractive Employer
Some employers have welcome signs. And unfortunately, some do not.
When talented individuals are assessing their career options, they look for obvious “welcome” signs. These individuals want some assurance that they are genuinely supposed to be a part of any new organization. Like in any establishment, if we don’t feel welcome, we eventually leave.
As an African American male, I have always assessed organizations based on the diversity within their leadership teams (which in my case, also includes the organization’s board of directors). While there are many different criteria that I use before engaging with a new employer or vendor, assessing organizational diversity will always be among my top three.
I’ve also learned over the years that a homogenous work environment is usually a sign of intolerance. Quite frankly, in today’s political environment, it can also be a bit scary. Further, a lack of diversity can also signal inadequate strategic thinking, as most of us know that diverse workgroups offer wider experiences and sparks tremendous innovation over the long run.
Why then, do so many organizations – especially non-profits – fail to invest in diversity initiatives? While the answer to this question may vary, let’s focus on those firms who get it right. Their results are impressive.
A recent study by McKinsey & Company sampled the outcomes of approximately 1,000 organizations and determined that firms who invested in diversity had higher profits. Specifically, it was concluded that firms in the top quartile for ethnic diversity are 33% more likely to have above-average profitability, according to the report. The same is essentially true for gender diversity.
The least diverse companies are 29% less likely to perform. Go figure.
Diverse applicants in any talent pipeline can recite these statistics (and many others) without effort. These individuals almost always prefer forward-leaning organizations. And, during stronger than usual economic conditions, individuals in the talent pipeline can be a bit more thoughtful about their next career move. They will almost always opt to work in a welcoming environment.
Many firms unknowingly communicate to diverse audiences that they are not welcome. It only takes a small amount of effort, and potentially a little courage, to make positive change. As America (i.e., your customer) becomes more diverse, it just makes sense for organizations to start thinking more strategically.