According to the latest CNBC Survey conducted among 8,233 workers across the U.S., workers think companies can do more about DEI (diversity, equity and inclusion). Events such as George Floyd’s and Breonna Taylor’s death, anti-Asian violence, and voting right conflicts have forced business leaders to engage in heated issues in a public way. Almost 80% of the surveyed candidates want to work for a company that values DEI issues, and a third stated that their companies are doing a lot of work in this area. There is a positive correlation between workers who are happy with their company’s DEI efforts, and job satisfaction.
In the aftermath of the pandemic, one of the biggest challenges that tech companies face is finding the right talent. This has been an ongoing challenge in this sector, and the skills gap remains a significant obstacle. It is thus crucial, in this talent ‘war’ to keep employees happy and meaningfully engaged.
The survey found that employees’ perception of the company’s DEI efforts impacts on job satisfaction and, in companies where workers felt not enough was being done to prioritize inclusion and diversity, the Workforce Happiness Index score was significantly lower. Employees are seeking out companies with clear value systems and behavior that reflects transparency, inclusion, and fairness.
Reasons to Run Your Business on DEI Principles
Having a work environment with people of different backgrounds and experiences will lead to an increase in creative and innovative ideas. Employees will feel more comfortable sharing their ideas and point of view in an environment that values diversity as opposed to a conservative business that rules autocratically.
It has also been found that a diverse workforce increases productivity because a wider range of skills and experiences enables workers to learn from each other, and work well together. It’s not only employees who benefit, but customers too. You will be able to market your business to a wider range of people, as some of your employees have a similar background to the target audience.
The positive impact of DEI on productivity and employee job satisfaction has led to a number of companies hiring diversity professionals whose role is to ensure that practices of inclusivity are upheld. They also run educational sessions on diversity, root for the use of an inclusive language, and manage complaints of harassment and discrimination in the workplace.
Tools You Can Use To Identify Workplace Issues That Require Change
One of the ways in which bias can be rooted out is by using AI to improve on diversity and inclusion. Experts in the field at Diversio note that AI can produce reports on retention rates, hiring goals, and demographic data. The data will identify areas that need to be changed, and this will lead to a better understanding of demographics and groups that need more attention. AI collects talent data from multiple sources, helping businesses to increase their chances of finding the right candidate for the role. AI can eliminate descriptions from the profiles of candidates ensuring that they are selected based on their merits alone, and that any potential for bias is eliminated.
News events during 2020 highlighted the drastic need for systemic change in the workplace and elsewhere. It exposed the necessity for organizations to make radical changes in combatting discrimination and the need to change company values and policies. Tokenism is not acceptable: DEI has to be practiced with mindfulness and intentionality in order for everyone in the workplace to feel safe and valued.