Diversity, equity and inclusion are no longer just buzzwords thrown at the modern workforce. The term has matured over the last few years to become a de facto requirement for companies. Glassdoor’s survey found that 76% of job seekers and employees say a diverse workforce is an important factor when evaluating companies and job offers. A further 50% of current employees are demanding their employers do more to enable DEI programs.
The long-term benefits of implementing diversity in your company are immense. A McKinsey analysis confirmed this by finding that “companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the fourth quartile”; for ethnic and cultural diversity it was 36%.
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The question isn’t whether you should be investing more into your DEI strategies, but how you can do it more efficiently. Below, we’ll be looking at five evolving trends shaping the future of work, in 2022 and beyond.
Remote work is creating more opportunities for inclusive hiring
It’s no secret that the pandemic has massively impacted the workforce and changed the typical “in-office” landscape.
Whether a company’s location is in an area with a diverse population or not, virtual work is bringing more DEI opportunities to the table. Talent pools are no longer limited to one location, and hiring managers can find underrepresented candidates across the country. I predict that we’ll see more companies pursuing this opportunity to leverage the virtual landscape for a more diversified workforce.
Companies are exploring more inclusive hiring processes
Long gone are the days of companies using diversity, equity, and inclusion as an empty mission statement. Today we’re seeing more companies investing in DEI and creating a reality of inclusion for underrepresented talent. This is not only a trend in 2022 but an initiative that benefits both businesses and candidates worthy of opportunities.
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Companies are finding new ways to address their unconscious biases during the hiring stage. From using more gender-inclusive language to creating an equalized interview experience, there are new ways to
Declining ageist hiring biases
Although Millennials and Gen Zers are becoming the majority of the workforce, older generations still face ageism in the workplace. While it’s true that
To combat this, Congress passed an
Weaving employee health and wellness into DEI practices
The dynamics of the COVID-19 pandemic have highlighted employee mental health as an issue, with global uncertainty and anxiety continuing to impact everyone. The Society for Human Resource Management took a survey that showed
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Business leaders are finally awakening and finding ways to
AI for HR tech 2.0
AI-based technology for HR got a shaky start, as algorithms were accused of reinforcing, rather than countering, biases. However, with more efficiency and proven ROI, AI-enhanced HR tech is making a comeback, today enabling companies to streamline their DE&I strategies and procedures.
Diversity recruiting platforms empower talent acquisition teams to remove biases in their hiring process and scale their diversity recruitment pipeline. Other platforms are helping teams analyze their language biases for more gender inclusivity.
Looking ahead
Employers need the varied perspectives and talents of a range to thrive in an increasingly complex business landscape. As the trends above demonstrate, diversity, equity and inclusion initiatives will only continue to grow in the years ahead, and will remain a significant business imperative in the larger scheme of things.
With everything from remote working opportunities opening the door to a wider talent pool, to an increased focus on employee wellbeing changing the workplace, a company that reads the map correctly, embraces inclusive workforce transformation as an anchor for success and actually enforces and true organizational change, will be a strong company that survives the years ahead.