Fostering a diverse and inclusive working environment has emerged as an imperative for businesses due to its massive transformative potential. By 2025, achieving gender equality alone could contribute a staggering $12 trillion increase in global GDP.
Inclusion means actively engaging people from diverse backgrounds and perspectives to create a workplace where everyone can thrive. Diversity celebrates the unique strengths and characteristics that each individual brings, fostering a sense of belonging. Both inclusion and diversity recognize and value differences, enabling everyone to contribute and participate fully at work.
Inclusive hiring can increase creativity, innovation, and problem-solving capabilities. Research shows that companies with diverse workforces are 87% more likely to make intelligent decisions and have a more significant impact on customers. Therefore, diversity hiring is more than just a trend.
Bringing together teams through inclusive and high-impact hiring from different cultures, genders, and backgrounds can make a real difference. Businesses can reap many benefits by embracing Diversity & Inclusion (D&I) initiatives.
Access to Varied Talent
Inclusive hiring offers businesses diverse perspectives and skillsets, providing access to talented individuals from different backgrounds, experiences, and viewpoints. Gender-diverse companies and teams tend to outperform counterparts with less gender diversity.
By actively seeking and recruiting candidates from underrepresented groups, businesses can reap the rewards of tapping into a pool that might otherwise go unnoticed. This opens up opportunities for increased creativity within the workforce, as employees with diverse skills and outlooks bring fresh perspectives to the table that enhances the collective problem-solving and innovation quotient of the organization.
Maximizing Business Opportunities
Creating a workplace where everyone feels accepted and empowered to contribute their unique ideas and talents is essential to fostering innovation and fueling success. Recruitment diversity fosters a creative workforce necessary for creating innovative solutions and maximizing business operations.
A recent Harvard Business Review report discovered that businesses with diverse teams generated 19% more revenue from innovation. Many customers are also likely to connect with companies they can relate to, which requires having a diverse team.
By embracing diversity and inclusion, organizations can distinguish themselves as socially responsible entities and stand out as an attractive opportunity for investors and potential employees. This, in turn, can contribute to a strong brand identity and generate even more business opportunities.
Enhanced Employee Engagement
Inclusive recruitment practices can profoundly affect employee satisfaction and the workplace atmosphere. When individuals feel respected and appreciated in the workplace, they are more likely to be enthusiastic about their jobs and devoted to their organization’s success. A McKinsey study revealed that 39% of people had declined job opportunities because they felt their presence would not be welcomed or appreciated within the company’s culture.
Companies can take steps to foster greater inclusion in the workplace, from providing training on cultural sensitivity to establishing an employee resource group for diverse individuals to creating a culture of openness and respect that encourages employees from all backgrounds to share their ideas and perspectives.
Companies should emphasize the importance of diversity and inclusion in their policies and practices. Committing to hiring a diverse workforce, setting diversity goals and actively monitoring the composition of their staff are critical steps in achieving this goal.
How Can Taggd Help With Diversity Hiring?
Taggd recognizes the importance of inclusive hiring and is committed to ensuring an equitable assessment process for all candidates. We have developed enriched candidate profiles that assess each candidate on various parameters, such as technical skills, industry knowledge, and behavioral skills. Additionally, our stringent checks ensure that we consider candidates without prejudice.
We assess candidates at various stages, utilizing a sophisticated scoring model. With this approach, organizations can find the most suitable candidates for their roles without any potential bias, especially while executing high-impact hiring strategies.
Taggd is dedicated to helping their clients create a safe, comfortable, and diverse work environment for everyone. To ensure this, we annually survey employees from 1000+ organizations in India to gain insight into their needs, wants and expectations from their workplace.
With the feedback collected through these surveys, we empower companies and provide them with advice and strategies they need to make meaningful changes within their organizations to become more diverse and inclusive.
Get in touch with Taggd to improve your talent base through diversity hiring.