Companies with diverse teams are 35% more likely to outperform their competitors. As you can see from that statistic, diverse and inclusive hiring is an incredibly powerful thing. Not only are inclusion and diversity moral things to promote, but they also have really positive effects on businesses and even the economy.
Creating these diverse and inclusive workforces comes from hiring in a diverse and inclusive manner. If done correctly, this type of recruitment can attract top talent, improve employee satisfaction, increase innovation and growth, streamline hiring processes and enhance hire quality. With a list as comprehensive as that, it seems almost stupid to not consider implementing diverse and inclusive practices into hiring processes.
This article will address the future of diverse and inclusive hiring, talking about the tools and strategies available, and highlighting the multitude of advantages there are to this. Let’s get started!
The future of diverse and inclusive hiring:
1. Leveraging AI and machine learning
AI is becoming ever more present in so many elements of our lives, in a professional and personal setting, so it only seems right that it should have its place in the hiring process. AI can help with many elements of recruitment, but is perhaps most useful in its ability to analyse vast amounts of candidates in a short amount of time, carefully and accurately filtering out talent who may not match the required job description.
Whilst its efficiency might be its most useful element, it actually has the ability to completely revolutionise the way the hiring process works. It can help with reducing bias- something which would greatly increase diversity and inclusion. It can analyse profiles in an unbiased manner, conduct first interviews and provide constructive feedback to candidates. Companies using AI in recruitment see a 30% increase in diverse hires, showing just how effective this strategy is[1].
Day One is a great example of a company using AI to help companies hire better, verifying the skills of candidates and ensuring that bias is removed from the hiring process.
2. Employing Blind Hiring Practices
Blind hiring processes are potentially a less well known phenomenon than our first suggestion. They are when personal and identifiable information is removed from CVs and resumes to prevent unconscious bias from creeping into the minds of recruiters, allowing candidates to be evaluated based solely on their skills, values and aspirations.
Blind hiring can increase the chances of a minority candidate getting a role by up to 46%[2]! Don’t just take our word for it either, several influential companies have introduced blind hiring practices, such as Deloitte. It does make sense why- this HR practice of anonymising applications sees increased fairness and equal opportunities for everyone, regardless of background, and opens doors to a far more diverse talent pool.
3. Utilising diversity analytics
All of these measures can be put in place, but if companies are unsure of their diversity goals or how diverse their current business is, it will be hard to change and create a more inclusive future. It is imperative that companies track and measure the effectiveness of their initiatives to improve diversity and inclusion through quality data.
It’s not just about internal targets, 67% of job seekers consider workplace diversity when considering job opportunities[3]. With the figures that high, it only seems right that companies should be measuring and consistently updating their diversity and inclusion goals. Regularly reviewing these targets and using tools to help track changes is a great way to set up a diverse workforce for the future.
4. Promoting an inclusive culture
It is also important to really focus on creating an inclusive culture in the workplace through diverse hiring practices. This type of culture retains talent and fosters innovation, leading to a more valuable and creative group of employees.
Inclusive companies are 1.7 times more likely to be innovation leaders [4]. This shows the tangible impact that inclusive hiring practices and cultures can have on not only their own business, but their industry as a whole.
An inclusive culture can be built from both the ground up and the top down. If all new hires are recruited in a fair and equitable manner, they are likely to want to carry that forwards to their fellow colleagues. But it is true as well that company culture is built by the leadership team. If they are trained to create an inclusive culture, this is going to permeate throughout the entire company.
Training opportunities, education, employee resource groups and celebrations are all going to be integral in fostering that culture of success. This will not only increase employee engagement, but reduce turnover and drive business success.
5. Future trends in diverse hiring
It is hard to fully predict the future of diverse and inclusive hiring. This comes down to the ever changing nature of the world of work. However, we can make a guess that the phenomenon of remote work is only going to get more popular. This is not a problem for creating an inclusive culture, in fact it is almost the opposite, as remote work allows companies to access talent from anywhere in the world, removing geographical restrictions.
It is also important to look at the young people of today and see what matters to them. 83% of millennials are more likely to be engaged when working for an inclusive company[5]. This shows just how much inclusive environments matter to young people, and how creating a diverse company culture will enhance productivity.
Whilst we can’t predict the future, we guess that some of the future trends in diverse and inclusive hiring will include more use of AI and VR, but perhaps more importantly a resurgence in the necessity of soft skills. As technology becomes more intelligent and efficient, holding onto what makes us human will be integral in creating a better future for employers and employees alike.
Conclusion:
As you can see there are several different elements in the future of diverse and inclusive hiring. From creating inclusive company cultures, to using AI, to predicting the future- there is much to consider when it comes to thinking about the future, especially in terms of hiring.
If any of the points above interested you or made you want to learn more, visit dayonework.com to find out about how you can hire better, incorporating some of those diverse and inclusive practices from day one.
The future is now, it’s down to all of us to make it one where diversity and inclusion are at the heart of not only every hiring process, but every business.
[1] 12 Inclusive Hiring Practices You Should Implement - AIHR
[2] Reaching Diverse Talent Pools with DEI: A Guide to Inclusive Hiring - Aplin Blog
[3] Inclusive Recruitment: A Comprehensive Guide to Hiring for Diversity and Inclusion | Diversity Australia
[4] Inclusive Hiring - 8 Practices You Should Implement | Thomas.co
