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Diversity, equity, and inclusion hiring strategies have become increasingly more important to companies over the past few years. In fact, a 2020 survey showed 51% of employers surveyed have formalized a DEI strategy for their company and 44% have made changes to their hiring policies. DEI can benefit a company from many different aspects, and investing in DEI hiring strategies can broaden the talent pool and increase employee retention.
By addressing DEI collectively, organizations can foster a more equitable and inclusive work environment that benefits employees, customers, and the overall success of the business.
Investing in DEI helps foster creativity, invites fresh perspectives, and increases overall talent and employee retention. An important component of company growth is being able to think differently and be open to diverse viewpoints. And utilizing talent from different backgrounds can give an organization an edge over its competitors.
When it comes to creating a DEI hiring strategy, it is crucial to move beyond mere box-checking. Simply recruiting individuals from underrepresented groups out of necessity is not a sustainable approach. Instead, organizations should strive for a holistic strategy that genuinely aligns with the values of the business. By embracing authenticity, businesses can cultivate a diverse and inclusive workforce that fosters long-term success and empowers individuals from all backgrounds.
To help you achieve your DEI hiring goals, here are some great questions to ask yourself as you prepare to interview potential job candidates:
Keeping these questions top of mind during the interview process helps create a positive experience for the interviewee and reminds you to prioritize what is authentic to your organization.
Benefits play an important role in supporting and reinforcing the DEI strategies at your company. Providing health and wellness benefits for diverse needs of employees helps demonstrate your company’s commitment to their well-being. These benefits could include healthcare services, mental health support, and resources for diverse identities and backgrounds.
Also, offering family-friendly benefits and flexible work environments can support and accommodate those who may need parental leave, childcare support, or employees with caregiving responsibilities.
To identify positive outcomes of a DEI hiring strategy, first think about where you are today in terms of DEI investment and your hiring process, and think about what steps you can take to reach positive outcomes.
“It’s important to start with a baseline of where you are today [in the hiring process],” said Laura Shen, chief diversity and inclusion officer at WEX, on our Benefits podcast. “When I think of the talent acquisition process, there’s the search, the interview, and then the offer. Within each of those three, you can think about the tactics you have for each one and what you can tangibly take from the process.”
Having a clear line of communication throughout the whole company can also help give you a better understanding of what components of the strategy are working and what parts might need some improvement along the way.
The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.
WEX receives compensation from some of the merchants identified in its blog posts. By linking to these products, WEX is not endorsing these products.
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