How Shifting Demographics Are Impacting The Recruitment Process
Minority groups and the recruitment process
How Shifting Demographics Are Impacting The Recruitment Process
The US population and workforce are becoming increasingly diverse, with minority groups growing at a rapid pace. Yet, some companies are still failing to implement diversity and inclusion within their teams.
There is no doubt that America is a wonderful melting pot of racial and ethnic minority groups, which have been steadily growing over the past decade. In 2000, there were around 35.81 million African Americans living in the U.S. Now this group represents over 43.5 million Americans. Hispanic Americans represented 17.79 percent of the US population in 2016, and this minority group is expected to reach 27 percent by 2060. While Non-Hispanic White Americans remain to be the largest group in the country, it’s important to build a team of professionals from all walks of life and from different minority groups, or risk becoming outdated as a business.
Let’s be honest, if you only hire like-minded individuals with a similar background and level of experience, how can you expect your business to grow? Diversity and inclusion in the workplace is one of the most effective ways to understand and represent different minority groups and therefore optimize the way you target U.S customers as a business. But if you’re still struggling to hire professionals from minority groups, your in-house recruitment process might be holding you back!
In this article, we’re going to take a closer look at how U.S demographics are changing, and how your recruitment process can be improved to help create a workforce that can better represent modern-day America.
Shifting U.S Demographics & Ethnic Minority Professionals
Findings from The Biopharmaceutical Industry: Improving Diversity & Inclusion in the Workforce report reveal a striking imbalance between the demographics of the United States’ population and corporate leadership in the science, technology, engineering, and mathematics workforce. Despite minority groups growing and more professionals of color being recruited thanks to diversity and inclusion recruitment processes, the percentage of minority groups holding senior roles in the biopharmaceutical industry is still very low. Yet, for better economic performance, stronger internal teams, and increased talent attraction, diversity and inclusion are of great importance to this industry.
As the nation’s population continues to change and diversity is supported by younger generations, something needs to change when it comes to the recruitment process for senior-level roles. Otherwise, how can a company claim to be inclusive and diverse, if no one in a position to make a significant change or has a level of influence within a company is from a minority group?
According to the report, companies do recognize that diversity is key to driving innovation needed to fuel the U.S economy, and so over 1,000 corporate executives across the country have signed the CEO Action for Diversity and Inclusion Pledge, a commitment to advance diversity and inclusion within the workplace. This promise has been designed to actively encourage more companies within this industry to reconsider their recruitment process and roll out new strategies to make professionals of color feel included, valued, and equal at work.
US Demographics & Hiring To Reflect Modern Day Society
While progress has been made to provide more inclusive work environments, there is still much to be done, especially in relation to women of color. Black and Latinx individuals are still underrepresented in corporate leadership positions and STEM careers across the U.S. Women represent over 50 percent of the U.S workforce, but only account for 26 percent of science, engineering, and STEM roles. But, according to The Peterson Institute for International Economics, female-led teams can be more profitable, with 30 percent of its leaders being female and earn 6 percent more than those without female leaders.
Now consider Black African Americans and Hispanic ethnicity within the biopharma industry. Only 8 percent of STEM managers are Black, and Hispanic ethnicity is lower still. Not only are minority groups unable to easily gain senior roles in these industries, but there are also disparities in earning potential too.
Diversity and Inclusion Can Enhance Your Team
“Throughout my career, I’ve seen the value of bringing together diverse teams—and the profound impact they can have. They bring new ideas and perspectives to the table which often leads to incredible innovation. In the life sciences industry, this innovation ultimately benefits the patients we serve each and every day. It is for this reason that we have made diversity and inclusion part of our business strategy.”
– Richard Paulson, CEO, Ipsen North America, Ipsen Biopharmaceuticals
To give minority groups and professionals of color an equal chance to apply for senior-level positions within your company, you need to optimize your recruitment process. Consider the first phase, a blind resume application process, where experienced candidates with the right level of skills, can submit their resume but without their name, age, gender, and ethnicity. This helps remove any unconscious bias from your recruitment process and gives everyone the opportunity to secure an interview and climb the career ladder.