Do Candidates Now Value Diversity, Equality, and Inclusion Over Salary?
Diversity and inclusion in the workplace and job recruitment
Do Candidates Now Value Diversity, Equality, and Inclusion Over Salary?
Diversity, equality, and inclusion are now considered the most important elements candidates look out for when searching for new opportunities. While salary might be an effective way to attract highly experienced professionals to apply for a position at your company, recent data suggests that diversity and inclusion in the workplace are what most candidates now value over a higher pay package.
In this article, we’re going to discuss why experienced and highly skilled professionals seek diversity and inclusion in the workplace, and why creating a diverse and inclusive workplace can help your business grow.
Professionals Look For Diversity, Equality, and Inclusion Within The Workplace
The world has never been so connected thanks to the ease and affordability of international travel, and highly skilled professionals can now relocate to another city, state, or country with ease. This makes it more difficult to hold on to talented and experienced individuals, especially if you’re in the biotech or pharmaceutical industry.
While offering an employee more money can keep someone from jumping ship in order to climb the career ladder, it’s often not enough to hold onto them for longer than a couple of months. Usually, unhappy professionals are searching for a better work environment and a better work-life balance over a higher paycheck.
70% of job seekers want to work for a company that demonstrates a commitment to diversity and inclusion, according to a recent survey by The Manifest, a business news site. But, if a candidate accepts a job offer, but then finds that the company is not actively practicing diversity and inclusion in the workplace, they are likely to leave or look for a new opportunity within 6 to 12 months. Not only does this mean a high staff turnover, but it also can cost a business more time and money, in relation to job recruitment.
Since people spend most of their adult lives at work, feeling a sense of achievement, progression, and respect is important. Highly skilled professionals now look for companies that value and want to hear their opinions, thoughts, and ideas. We’re not robots after all and our life experience, creativity, and ideas are what make us all unique. So, if your staff turnover is higher than you’d expect, your HR department really needs to uncover the real reasons why employees are looking elsewhere, and start implementing ways to improve diversity, equality, and inclusion within the office, before it’s too late. A high staff turnover can significantly damage your reputation as a company and your competitors will be quick to steal talented candidates from under your nose!
Diversity and Inclusion In the Workplace Is Key
During the job recruitment process, diversity and inclusion in the workplace can help you attract candidates from minority groups and those who value a more diverse workplace. However, putting your words into action is essential to optimize your employee retention rate.
Here’s are a couple of ways to demonstrate workplace inclusion;
● Create a supportive sense of belonging that helps encourage individuals to voice their thoughts and ideas. By making people feel comfortable enough to share their true opinions, you can build a diverse yet inclusive place to work.
● Provide opportunities for everyone to contribute and on a regular basis. Consider who you invite to internal meetings, and who is given a chance to speak. How do senior members of the team include others when making decisions? When an employee feels that their voice is being heard and taken into consideration, you are successfully nurturing your team and practicing inclusivity at work.
● Be open, honest, and transparent as a business by allowing your entire team to communicate freely. No one is off-limits to talk to, no matter how new to the company they are, or senior position they hold. This breaks down communication barriers between professionals and teams and enables people to freely talk, share ideas and discuss issues without fearing they are going against the cultural norm or corporate tradition. Removing this internal inequality is a great way to demonstrate that you offer diversity, equality, and inclusion as a business.
● People naturally react with fear and distrust when their beliefs are challenged, but you can use this to your advantage as a company and create training days and inclusive workshops to shake up your team. Giving everyone an insight into each other’s roles and responsibilities within a business helps to form newfound appreciation for colleagues within a company.