The pursuit of Diversity, Equity & Inclusion (DEI) continues to be an organizational priority in 2020. The majority of managers and employees participating in 24 Seven’s annual job market research indicate that their companies have well-defined diversity and inclusion policies. DEI isn’t just a noble cause grounded in the most virtuous of intentions; it also makes solid business sense. Our research finds that there seems to be a positive halo effect of business benefits for pursuing diversity recruitment through clearly stated and enforced policies. Here are some that appeared in our research on talent attitudes & behavior.
Employee Loyalty & Retention
Companies with well-defined and enforced diversity and inclusion policies have more loyal employees. Workers in these companies are one and a half times more likely to feel loyal to their employer than those working at companies with no formal approach to DEI. They are also twice as likely to say that their employer reciprocates loyalty. Employees at companies committed to diversity recruitment and inclusivity are less likely than those not working for such companies to be an active flight risk.
Safe, Job-Secure & Engaged
There’s a greater sense of job security among workers who identify their employer as DEI progressive. Almost nine in ten of those working at such companies also say that they feel safe to bring their whole self to work. This means that they feel like they can be their authentic selves, to share ideas, their uniqueness, to use their employee voice, without fear of retribution or reprisal. This makes employees more productive. Eighty-six percent of these employees say they are engaged at work.
Personally-connected & Passionate
Seventy-nine percent of those who work for DEI committed employers say that they connect on meaning, purpose, and passion at work. It’s no surprise that these workers are more engaged. This may be because at the core of D&I is to make people feel seen, supported, welcome, and valued. Their work matters. They matter. They understand how they fit. Who wouldn’t want to give it their all at a company like that?
The Employee Experience Matters
Seventy-four percent of employees who work for companies with a formalized approach to diversity recruitment see it as a sign of the employer caring about workplace happiness and the overall employee experience. Employees satisfied with their experience at work are a lower attrition risk, are among the most productive and loyal, and engaged. By pursuing a more inclusive and diverse organization, companies create happier employees engaged to produce higher value in the workplace. Our past research has shown that happy employees promote their companies. Diversity recruitment improves the company’s reputation as an employer and elevates its employer brand, giving them a talent attraction edge.
For more insights on talent behavior and hiring trends, click here.