Please say it’s not so! Analysts again are warning of an upcoming recession due to recent market behavior and various financial factors. Whether you believe their assessment of the economy or not, the fact is we are due for a recession at some point. The American economy is cyclical in nature, and considering we are in the longest bull market in history, a recession seems to be due sooner rather than later. I am not speaking as an economist or financial adviser, but as a recruitment partner who has weathered these economic fluctuations with my clients in the past. History has proven that there are ways to weather a recession, and maybe even thrive until the market starts to pick up again.
1) Hire the Perfect Team Early
We are in a booming economy right now. Use it! Build your dream team now that way you can increase your budget and secure funding now before it is too late. Once a recession hits, your ability to ask the company for a bigger budget to hire someone you need is almost impossible. On average, budgets will remain stagnant or even decrease a little bit. However, if you go into a recession already having built your recession-proof team then their salaries have already been accounted for in the budget planning meetings and their job should be secure going forward. This being said, don’t go overboard by hiring people you don’t need or whose jobs are too similar. This is when you’ll be forced to slim down and let good people go.
2) Prioritize Your Marketing
During a recession, marketing is often the first thing to go. Marketing is essential in a recession to keep your brand remembered and fighting for consumers. When you decrease marketing and your competitors don’t, you have already lost consumers. However, if you keep marketing strong while your competitors lapse you have an opportunity to win market share. It is possible to grow during a recession, and marketing is the key to doing so. Instead of cutting marketing entirely, create a ranking for campaign importance. The most important and effective campaigns remain funded while other costly or overly risky campaigns get put on hold if the market goes sour.
3) Add Value not Price
A big trend we saw during the 2009 recession was that prices go up and never come back down. While consumers may choose your brand for a number of reasons, you can be sure that during a recession price is a huge factor of if they keep choosing you or try someone new. Increasing your price will turn away loyal consumers who are looking for a cheaper alternative, therefore boosting your competitors and making you lose market share. Instead, focus on adding value that doesn’t cost much such as excellent customer service, satisfaction guarantees, and loyalty programs to convince your consumer that your existing price is worth it.
4) Develop Short Term Goals
A volatile market can make long term goals tricky. The economic conditions that exist at the beginning of a recession may not exist in a month, or even a week, after. Therefore, make your goals reflect the volatile nature of the market by adopting challenging yet achievable short term goals. A 30-day goal that can adapt to market volatility from month to month is a good way to keep realistic expectations and act quickly when the market begins to change.
5) Utilize Partnerships
You aren’t the only one going through the recession. Every one of your partners is feeling it too. Incorporate Co-op marketing campaigns with retailers or other brands. You marketing dollars will be stretched by bringing partners into a campaign. You should focus on preserving your partnerships because you and your partners are able to do a lot more together than each of you can do alone. To go back to economics 101, like nations, companies have comparative advantages. An advertising firm can do advertising for much less than it would cost you. Similarly, a recruiter can recruit talent for much less than it would cost you. Therefore, by utilizing each of your partners' specialties each of you are able to benefit from gains of trade and produce much better than you would be able to alone.
A recession can be nerve-wracking but you will get through it. Make preparations now before you are left scrambling when the market begins to slow. It may be in a month, a year, or 5 years but it is always better to be ready for anything. DCAProSearch is proud to be your recruiting partners throughout good and bad, and we are always ready to help you build your corporate dream team to help you ride out any storm.
Diversity in the workplace has been praised as not only being ethical but a smart business decision. However, the main question that stumps passionate diversity advocates is, “How will investing in diversity make us money?” In, a perfect world, arguing that investing in diversity is the ethical thing to do would be enough for any hiring manager. Unfortunately, most of us live in the business world where nothing is done unless it helps raise the bottom line, and now it is up to you to prove that diversity does exactly that.
Admittedly, it’s a difficult argument to quantify. Saying that adding diversity initiatives would add X amount of dollars to the bottom line would be oversimplifying the benefits of diversity because the exact benefits are hard to trace. Lucky for you, we’ve put together the business case that you have been looking for. Whether you are a skeptic of diversity or a diversity devotee, the numbers prove that diversity works.
Diversity is an Expectation for Top Talent
Job seekers are beginning to expect companies to have a diverse workforce and value diverse employees. According to Glassdoor, 2 in every 3 active and passive job seekers said that a diverse workforce is an important factor when evaluating companies and job offers. According to a Glassdoor study, when asked how important a diverse workforce is when evaluating companies and job offers 67% of respondents indicated that diversity was important or very important to their decision. When broken down, the numbers were even higher among women (72%), African Americans (89%), Hispanics (70%), Asians (80%), and millennials (86%). However, nearly 6 out of 10 employees think their company should be doing more to increase diversity. Therefore, by not investing in diversity efforts you are actively persuading top talent to look elsewhere for the diversity of thought they are looking for.
Higher Financial Performance
McKinsey & Company published a study in 2018 correlating higher gender and ethnic diversity to higher earnings before interest and taxes (EBIT). The study concluded that companies in the top quartile of gender diversity had a 21% higher likelihood of above-average financial performance than companies in the bottom quartile. Similarly, companies in the top quartile of ethnic diversity saw 33% higher likelihood of having above-average financial performance than companies in the bottom quartile. This is in part to diverse teams having more innovative R&I, enhanced group think, greater insight into real-world perspectives, quick access to cultural ambassadors, new product concepts, and introduction to new markets.
Boston Consulting Group (BCG) came out with a similar study concluding that there existed a statistically significant correlation between the diversity of management teams and innovation. Companies that had higher diversity within management saw 19% higher innovation revenue than companies with below-average diversity. A Harvard Business Review study tied this correlation to the fact that diverse teams understand diverse market needs, leading to more relevant product development that meets real-world needs versus non-existent problems. A 2017 Harvard Business Review report found that teams with higher cognitive diversity were 53% more effective and efficient in completing cognitive tasks than less diverse teams. From being able to identify sore spots in brand marketing to revealing new product and research opportunities, multicultural talent brings new perspectives and solutions.
Racial Minorities are only Getting Larger
The Brookings Institute estimates that minorities will make up the majority of the United States population by the year 2045. The Hispanic community is set to see the fastest growth in population. However, all minority groups are forecasted to see steady growth as well. By 2045, whites will make up 49.7% of the United States population, while Hispanics will make up 24.6%, African Americans 13.1%, Asian’s 7.9%, and all other racial minorities 5%. If we look at the racial demographics by age in the table, minorities will be the majority of the workforce even sooner. Therefore, by delaying diversity initiatives you are isolating young talent and simply delaying the inevitable.
Not only is diversity the right thing to do, but it would be a mistake to ignore or delay the benefits of diversity in the workplace. Although many skeptics still believe the financial benefits of diversity are non-existent or not proven, hundreds of companies around the world have proven that diversity initiatives are beneficial, if not necessary, to grow in today’s consumer-driven market. That is why DCAProsearch is dedicated to diversifying the marketing and advertising space with top diverse talent because we believe that diversity isn’t only the right thing to do, it is the way of the future.
Resignations happen all the time. People find better opportunities, life happens, and people move on for all sorts of reasons. Good talent leaving isn’t something to be alarmed about, but when multiple resignations occur in close proximity to each other it is time for alarm. A mass exodus of talent can happen for a number of reasons: loyal employees following a good leader, an ethical scandal that has shaken the moral compass of employees, a bad financial report that tests the confidence in the future of the company. Whatever the reason, the top priority for top executives and HR should be to limit the number of employees who jump ship to avoid losing good talent. De-escalate the conflict quickly and most times the company will come out stronger on the other side.
1) Don’t Counter. Listen and Ask
When you see your best employees leaving, your instinctual move is to create a counter-offer to make them stay. It makes sense, give them an offer that you think they can’t refuse. However, don’t be so hasty. At the end of the day, a counter-offer is a power play and an unwise one at that. Most counter-offers are like throwing a dart in a dark room. Most will offer a raise or promotion, but few will hit the reason the employee is actually leaving. The reality is your employee is the one in power, and you shouldn’t exert your power to sway their decision until you know what it is they need. Instead of designing a counter that you think would sway them, listen to the reasons they are leaving and ask if there is anything that could influence their decision.
2) Call your Recruiter Immediately
Whenever you battle a crisis there is always a risk for casualties. You cannot be so naïve to think that everyone will stay with you. Identify loose links and call your recruiter immediately so they can start a search for replacements. This minimizes the loss to the company and to the morale of your employees if you do lose some talent. Hiring a replacement quickly after you lose talent keeps your employees from feeling overworked for extended periods of time, fills the empty desk feeling of the office place, and brings new ideas to a stagnant workplace that can actually serve to improve the business.
3) Secure Top Talent
People follow people, and there are some people you simply can’t afford to lose. You have to act quickly to make sure top talent has no inclination of leaving the company or taking other talent with them. Talk to them personally out of the office to eliminate any intimidation or pressure they may feel when talking about such issues with their boss. Make them feel comfortable and ensure them about the future of the company and the future of their career. Sometimes it may even be necessary to offer them incentives to stay such as more vacation time or a raise to sweeten the deal, but it’s worth it if it means they’ll stay.
4) Promote Worthy Employees
No one is going to leave a job they just started. If you are nervous about employees following a leader then make them a leader, but only if they are ready. On average, an employee will wait at least one to two years after starting a new job to even consider leaving their position. Promoting worthy employees will inspire loyalty to the company, and even keep lower-level employees from jumping ship because they see their colleagues staying and thriving.
5) Create a Challenge
The saying goes that an idle mind is the devil’s playground. From a career standpoint that rings even more true. Ambitious employees don’t like to feel stagnant, and no overachiever wants to leave loose ends. Therefore, by constantly challenging your employees to find new solutions, reach further, and follow unique ideas you are inspiring them to remain with their jobs regardless of company politics, changing leadership, or newsroom events. Keeping your employees engaged and invested in their work gives them a reason to stay on even through turmoil that may have demotivated them in slow seasons.
An exodus of top talent can have far-reaching effects within the company, but quick action can easily stop a crisis if you take the right steps. However, the fact is at some point or another you will lose good talent. Keep DCAProSearch in the loop to minimize the effects of losing good employees and find talent that may even exceed what you thought possible before. Any crisis can be averted with good planning. Do you have a plan?
When it comes to what an executive recruiter does, not many people can give you a solid definition. If you ask a client, they will tell you that we find them top tier talent for their hard to fill positions. If you ask a candidate, they will tell you we find them jobs. However, if you ask a recruiter. we will tell you that we create an ever growing talent network consisting of skilled active and passive candidates that we use to uniquely identify top candidates within that network who meet and exceed client talent needs.
Because clients and candidates alike can’t identify exactly what an executive recruiter does for them, they also miss out on so many benefits that we are able to provide. If you think that you are only getting one service out of your recruiter, think again because we are able to provide so much more. We are experts in our industry, and clients and candidates alike should be utilizing their relationship with a recruiter for more than just finding new talent or a new job.
Recruiter as an Industry Insider
Having a recruiter on your side is like trading with insider knowledge, except legal. We are always on top of industry news and are tracking trends on the daily basis. After all, the signs of big industry news can always be traced back to what companies are hiring, who they are hiring, and who they are letting go. Recruiters know how to read the tea leaves, all you have to do is ask.
Recruiter as a Confidant
While we are ready to tell you the news on the industry, we will never spill your news. We are proudly bound by client privilege, which means you are able to confide in us about upcoming changes in leadership, a new department opening up, or other office news that you need talent for. We then are able to silently seek out candidates for you to look at before the news even breaks.
Recruiter as an Ambassador
Your job boards are likely to only bring you lackluster candidates who have been sending their resume to anyone who will take it. However, a recruiter is your ambassador to the passive candidate network. These are professionals who are already proven and successful in the prime of their career, but who are not actively looking. Let us be your ambassador instead of relying on outdated resume books and job boards.
Recruiter as a Hiring Guide
Believe it or not, according to leadershipIQ a staggering 46% of new hires are considered mis-hires within the first 18 months. The reason, faulty hiring practices. An executive recruiter can guide on improving how you screen candidates and lead you to the right choice. For example, at DCAProsearch we created our Diversity Recruiting Guide to help companies with recruiting and retaining diverse talent.
Recruiter as a Magnifier
There is a difference between being an applicant and a candidate. You’re an applicant if you simply submit your resume via on online link and hope for a response. With a recruiter vowing for you, you are instead a highly sought after candidate who has more legitimacy in the eyes of potential employers because you are being backed and talked up by a recruiter.
Recruiter as a Mentor
Who else is going to take the time to sit down with you and go over your resume, formulate a perfect thank you letter, or review interview success tips? When you trust us throughout the entire application process we are there for you to answer any question no matter how dumb it may feel. However, that does come with a catch. The only way we can help you is if you confide in us before, during, and after the hiring process. Why, because the application process doesn’t end with the interview, there are countless other factors you need to know that we can only tell you when you build a relationship with us throughout your career.
Recruiter as a Career Guide
Would you want to stay held back in the 10th grade even though you’re ready to graduate to 11th? Of course not. However, that is what too many professionals do within their careers. They remain stagnant in one position, not knowing they are ready to move up in their career progression. Recruiters know where you should be in your careers and what you should be seeking as your next strategic move. Ask a recruiter if you have stayed too long, and how you can advance your career.
DCAProSearch specializes in recruiting premium multicultural and general market professionals in advertising and marketing who excel in the contemporary reflection of today's diverse cultural and digital landscape. At DCAProSearch we strive to give our clients the Distinctive Client Advantage, meaning we only present premium candidates that we are certain will strengthen your power teams. Culture Marketing is leading the way, and DCAProSearch understands that these changes require a unique talent. This is why our executive recruiters are dedicated to finding professionals with experience and passion in multicultural advertising and diversity marketing to target your specific culture market needs.
This week DCAProsearch released an all-encompassing 36 page guide about recruiting and retaining diverse talent in order to create a more multicultural workforce. This valuable guide is split into three concise sections that clearly address the state of diversity in the workplace and methods in which hiring managers, HR, and corporate leaders can take to recruit and retain multicultural talent through effective DEI policies. While the full guide is only a thirty minute read, I wanted to provide a quick executive summary for professionals to read on-the-go while commuting to work or taking a quick break from the office. For the full guide feel free to download it here.
A Business Case for Diversity
When it comes to business decisions, it all comes down to the numbers, and diversity is no exception. Whether you are a skeptic of diversity or a diversity devotee, the numbers prove that diversity works. McKinsey & Company published a study in 2018 correlating that companies in the top quartile of gender diversity a 21% higher likelihood of having above average EBIT and companies in the top quartile of ethnic diversity had a 33% higher likelihood of above average EBIT. A separate Boston Consulting Group found that there exists a statistically significant correlation between the diversity of management teams and innovation. Companies with higher management diversity saw 19% higher innovation revenue than companies with below-average diversity. The Harvard Review also found that teams with higher cognitive diversity were 53% more effective and efficient in completing cognitive tasks than less diverse teams.
Pt I: The Current State of Diversity
A common misconception of multiculturalism is that it consists of only racial and ethnic identities. However, multiculturalism consists of various identities from age, gender, sexuality, and ethnicity each of which consists of different cultural norms and values. Having teams that encompass multicultural perspectives has proven to allow companies to innovate R&I, enhance groupthink, foster cultural ambassadors, reach new markets, incorporate real-world perspectives, and design more relevant product concepts.
While many companies have already recognized the value in investing in multiculturalism there is still a lot to be done. By 2045, racial minorities will be the majority of the nation. If we look at the numbers by age group, it is even sooner. Minors under 18 will be majority minority as soon as 2020, and twenty year olds as soon as 2027. Although minority communities are growing quickly, corporate America still has a long way to catch up. Out of all Fortune 500 CEO’s only 11 are Hispanic (2.2%) and 5 are African American (1%). There are more Fortune 500 CEO’s name David (4.5%) than there are female Fortune 500 CEO’s (4.1%). The average woman gets paid only $0.78 for each dollar earned by a white man, and women of color make even less with Hispanic women getting the least at only $0.53 per dollar. However, regardless of all the shocking statistics, 41% of managers say they are “too busy” to implement diversity initiatives. To say it bluntly, the state of diversity in America should be viewed as unacceptable for any company that strives to be diverse, equitable, and inclusive (DEI).
Pt II: Recruiting for Diversity at Work
Diversity has become expected in today’s workplace. According to glassdoor, 67% of job candidates believe that a company having a diverse workforce is an important factor when evaluating companies and job offers, and 57% of employees believe their company should be doing more to increase diversity. Who exactly is responsible for diversity though? The number one answer was hiring managers, followed by the CEO and HR. However, 1 in 4 people believes that employees have a large role to do with recruiting diversity as well. This makes diversity a responsibility for everyone in the company, but especially those who make the hiring decisions.
When it comes to achieving diversity, companies have taken varied approaches from matching the diversity of the company to diversifying all levels of management. However, the most effective means were to create a team dedicated to DEI and invest in a Chief Diversity Officer who sits with other top-level executives in making decisions. This officer should be tasked with understanding the current state of diversity within the company and identify areas where diversity needs to be improved. Look at whether diversity is integrated across all departments and leadership levels within the company, and that you are also working with diverse vendors and partners such as multicultural ad agencies or diversity recruiters.
When it comes to actually recruiting diverse candidates, there are a number of ways that a company can attract multicultural talent that is more engaging than typical recruiting efforts. Start by diversifying where you recruit for talent. This can mean appearing at Historically Black Colleges or Universities (HBCUs) or Hispanic Serving Institutions (HSIs), sponsoring cultural celebrations, or hosting networking events for minority communities. Additionally, you should be showcasing your diverse talent on social media and award employee referrals to assure diverse talent that your office is a place they can excel and grow.
Consider hiring a diversity recruiter to handle your diversity recruiting needs. Diversity recruiters are experienced in finding top diverse talent and abide by the golden rule of recruiting: less is more. Experienced recruiters will only send you a max of 5 resumes rather than overwhelming you with bad candidates, thus letting you make a more informed and attentive decision.
Pt III: Retaining Multicultural Talent
If your focus is on diversifying your workforce, then you should know that hiring for diversity is not enough. Research by the Association of National Advertisers (ANA) identified four main reasons for diversity efforts failing: management disconnect, macroaggressions, cultural illiteracy, and workplace integration dissonance. To put it more simply, nobody took the time to enforce equitable and inclusive policies. When looking to see whether your company is inclusive look at policies that are relevant to minority employees and ensure that policies address their needs as well. Allow them to submit concerns anonymously, and ensure that all employees are respected as valuable individuals.
Various techniques have been utilized around the country by business big and small to foster inclusive work environments. Various companies seek to amplify minority voices by establishing Diversity Group Think Tanks (also known as employee resource groups, ERGs) and encouraging company leaders to mentor lower level employees who have different points of view and perspectives. Additionally, having multicultural teams and management gives employees the ability market brands to multicultural audiences that they are familiar with. To avoid employees not understanding each other’s points of views and backgrounds, invest in cultural brokers on your teams and stress the importance of valuing diverse points of views to ensure that all ideas get heard and considered.
It is important to also note that not all employees have the same experiences, skills, or definitions of success. Many employees may benefit from systematic advantages or unacknowledged bias while putting others at a disadvantage. Therefore, it is important to ensure that all policies and practices within the company are equitable. Not to be confused with equal opportunity which provides equal resources and equal assessment to all employees without regard to previous advantages or setbacks, equitable policies stress fairness by recognizing what is/was needed to be successful based on previous skills, tasks, or abilities.
Equitable policies focus on acknowledging the role of systematic privilege in the success of some employees over others due to underlying bias and seek to bridge the gap between marginalized groups of employees while addressing and eliminating corporate bias. Companies should provide development resources, such as optional quarterly training, for employees who want to improve their skills and company leaders should diversify performance matrix to recognize various forms of success within the company. Furthermore, establish clear promotion tracks to take out the ambiguity and bias that exist when choosing who gets promoted and standardize pay brackets based on task and level within the company to eliminate large gaps in wages while still allowing room for wage negotiations and raises.
A successful DEI strategy has proven to be beneficial for the productivity, success, and well-being of your employees. Employees who work in diverse workplaces reported feeling happier and more likely to stay with the company than employees who work in homogeneous environments. Constantly review your DEI practices and hold quarterly meetings with your Chief Diversity Officer to identify ways in which the company can grow and continue to promote DEI.
At DCAProSearch we want to share the diversity that exists within the workforce with you and your company. We recognize that diverse mindsets bring about new solutions, new ways of thinking, and new opportunities that make our world better. We thank you for being a part of this movement and challenge you to continue to redefine what it means to be a diverse, inclusive, and equitable company.
We hope you enjoyed this executive summary of Diversity Recruiting. If you want to get the full 36 page report that goes into detail about the various methods used to recruit and retain diversity plus ways to establish DEI policies in your company download the full report at https://www.dcaprosearch.com/diversity-guide-request.html
This is going to be hard hitting on some people, but we need to stop relying on the words Diversity and Inclusion. Why? Because the modern institution of diversity and inclusion allows companies to pat themselves on the back for doing a few things, while allowing them to fall short on the promise they made to minority employees. Simply relying on D&I is limiting us on how we look at recruiting and retaining diverse talent. Although I firmly stand behind the values and meaning surrounding D&I, the institutions companies have created around D&I need to be redefined and expanded to the point where current definitions of diversity and inclusion are considered obsolete.
As an executive recruiter, I specialize in the area of diversity recruiting. However, my goal is for the candidates and clients we match to grow together through their career and business practices. What we've realized is that diversity initiatives alone may not be enough to ensure success. Companies may be able to attract multicultural talent, but when there is no real effort in transforming culture, D&I policies and initiatives that exist to make diverse voices feel valued and respected are bound to fail. Diverse employees will not be able to thrive within the company and will leave the company within a year or two at most. Whereas clients that actively promote, celebrate, and empower diversity, equity, and inclusion (DEI) are where we see our clients and candidates thrive and grow together for years to come.
If the culture isn’t already inclusive, you’re not ready for diversity
When companies start seriously thinking about diversity and inclusion, it is typically an afterthought based on complaints by unhappy employees, or an exodus of minority employees. Even the name “Diversity and Inclusion” seems to imply that the order is diversity THEN inclusion. However, a design set up on securing vast amounts of diversity talent before establishing a culture of inclusivity is already designed to fail. Before companies seek to expand in hiring diverse mindsets, they should observe the diversity that already exists within the office and ensure that inclusive practices already exist within the workplace for current employees (ex: parents, age groups, gender). When the company then seeks to attract new forms of diversity, they can simply expand on those practice already in place and create new policies as needed rather than scrambling to create something from scratch.
‘Diversity first’ puts the burden on minorities to create inclusion
For many companies the reality of ‘diversity first’ has already hit and they are scrambling to create inclusion programs. Unfortunately, this is putting an undue burden on minority employees who have been tasked with either learning to adapt to a non-inclusive environment or with designing inclusion for themselves and others like them in the company. Both of these tasks require minority employees to take on responsibility above and beyond what their job calls for. This can have long lasting effects on their performance, efficiency, and longevity within the company.
D&I means nothing if the corporate system isn’t equitable
Equity within the workplace starts with understanding that there are underlying, and often unacknowledged, biases built within organizations that favor some groups of people over others. Furthermore, equity is acknowledging the role of systematic privilege in the success of some employees over other employees due to underlying biases. Therefore, equitable policies are those that help to bridge the gap between marginalized groups of employees while addressing and eliminating corporate bias by recognizing what was/is needed to be successful based on previous skills, tasks, or abilities. Equitable policies should seek to provide supplemental training for all employees who need to refresh their skills, diversify performance matrix by recognizing multiple forms of success, establish clear promotion tracks to eliminate bias in management, and establish pay brackets across management levels to eliminate wage gaps for similar work.
D&I shouldn’t be limited to a department in Human Resources
When many people think of diversity and inclusion they think it’s admirable, but it’s also not their problem. D&I has been reduced to a department out of HR rather than a movement within the company. In reality, DEI should be an ideology held by all members of the company that affects every business decision from hiring, to expanding a product line, to finalizing a marketing campaign. When D&I is siloed within HR, employees and hiring managers are able to brush it off as a responsibility that only exists for HR when they should be the ones at the forefront to create an inclusive and equitable environment for employees and colleagues.
Diversity is a movement, not a mandate
A movement serves as a force that revolutionizes the values and decision making process of a company, leaving no process untouched. Although hiring multicultural talent is beneficial toward improving diversity of thought, if companies do not take active steps to foster a multicultural movement then diverse thinkers will feel marginalized and excluded, stifling your employee’s ability to fully participate in the culture of the company. Therefore if companies want multicultural talent, they need to take the time and resources to ensure that multiculturalism is fully implemented into the vision and culture of the company to ensure the promise of diversity, inclusion, and equity is fulfilled.
The problem with modern D&I is that companies will stop at creating a D&I department thinking that is enough without changing company culture, practices, and values. The movement toward valuing diversity has to extend further than the work that has already been done in modern day D&I departments and needs to extend far past diversity and inclusion to ensure an equitable work place as well. Companies need to step away from the siloed D&I model in HR and begin transitioning a DEI corporate culture that transforms the values held within the company, within management, and within employees. It isn’t until we embrace the movement that is diversity and ensure the success of all voices that we can really begin to say that the American corporation has succeeded in creating a diverse, equitable, and inclusive workplace.
You might be wondering why an Executive Recruiter is so hung up on the DEI issue, it is because we want our clients to thrive and they will thrive when they set themselves up for it by incorporating a successful DEI process in which the STAR Diverse Talent we recruit for them will shine and be able to bring all they have to the company including their diverse thought process, ideologies and new product ideas to serve other markets. This is only part of a 30 page guide which will be made available to prospective clients within the month on how to ensure DEI. If you would like to receive this guide the second it comes out, please sign up at www.dcaprosearch.com/diversity-guide-signup.html
Albert Einstein defines insanity as trying the same thing over and over again and expecting different results. The same thing goes for your hiring practices. If you continue utilizing the same hiring process you will continue to hire the same type of employee. Hiring diverse employees has been a goal for most Fortune 500 companies. However, only a few have succeeded in truly diversifying their workforce and experiencing the benefits that diversity brings. If you want to attract diverse talent, the first thing you need to do is diversify your hiring practices.
1) Recruit in Diverse Places
This goes without saying, but if you want to attract multicultural candidates then recruit in places that attract multicultural professionals. This includes Historically Black Colleges and Universities (HBCUs), Hispanic Serving Institutions (HSIs), diversity conferences, job fairs in minority communities, and online social media pages or forums serving minority communities. Not only do you meet a diverse set of candidates, but you also position your company's brand to be one that values diverse talent. When candidates feel like they are being sought out by a company they are more likely to want to work for the company because they feel wanted and valued. Therefore, continuously seek out diverse talent and they will seek you out in return.
2) Sponsor Cultural Celebrations
Sometimes the best recruiting happens when you are not trying to recruit at all. By creating a reputation for your company as an ally to diversity you are attracting top talent without even having to ask for a resume. Diverse candidates like to see their potential employer champion diverse causes and show their support for cultural activities. It makes potential employees feel that your company is a place that they could feel at home and valued. There are thousands of events that you can sponsor: Cinco de Mayo Parades, Dia de los Muertos Celebrations, Black History Month Exhibits, Pride, Women's March, ect. It is also a fun event just to take some friends from the company and enjoy a day celebrating diversity. Who says you can't have fun at work.
3) Showcase Diverse Talent
You are proud of your employees. There is no shame in letting the world know too. People want to work at places that they know they will feel challenged and where they will succeed. When companies showcase that diverse talent has thrived within their workplace, it attracts other diverse voices to join the team. No one wants to work at a place where they do not feel represented or where their voices won't be valued. When showcasing your team on social media, ensure that the diversity of your team is represented. Avoid only sharing images that consist of only one type of gender, race, age, etc. Showcase the diversity of your workplace and be proud of the teams you have put together.
4) Host Networking Events
Who doesn't love Friday happy hours? It is great getting together with members of the company after a long week, but what about bringing together top talent from various companies to mix and mingle? Large companies are often coming together to empower minority groups within the industry to meet each other and share ideas. Events such as 'Women who Code,' LGBTQ+ Marketing mixers, and Society of Hispanic Engineers events happen throughout the country. Team up with other companies and host an event at a local brewery or park and get all of your employees to meet people from other companies. Your employees create connections and mentorships that will attract talent to your company because of how well your employees were admired.
5) Empower Minority Youth
Representation is one of the most important things when creating a spark in young talent. Teens and college students want to work at a place where they see themselves. Organize outreach missions that empower the youth and inspire them to reach for their dreams. No kid will ever forget the first time they felt like they could be the next CEO or create the big viral ad. Create opportunities for minority youth to engage with your brand such as Hackathons, school events, company tours, and other fun events that allow students to see themselves working for your company in a few years. Investing in students and continuously engaging with them year after year is the best way to capture young talent and develop them throughout their career.
6) Hire a Diversity Recruiter
If you want diverse employees, diversity should also exist within the vendors and partners you choose to work with outside the office. These can include advertising agencies, freelancers, contractors, but especially executive recruiters. Diversity recruiters are experts in identifying talent that will expand your company’s capabilities by finding the right talent to build your power teams. At DCAProSearch we have placed diverse talent within top agencies and companies for over 24 years and can confidently say that diverse talent is essential to tapping the benefits of multiculturalism.
The fact is simple, if you want to attract diverse talent you have to reevaluate your hiring practices to market your open positions to attract that diverse talent. If you continue using your old hiring practices, you will continue to hire the same type of employees you have always hired. Therefore, switch things up and diversify your hiring process and you will see the types of candidates you attract begin to differ as well.
Finally! The open position you’ve had on your team for the last few weeks has been filled. You feel like you found the perfect candidate after countless interviews and resumes and your new employee is in their office setting up their desk. Little did you know, this employee is about to cost you hundreds of thousands of dollars and endanger your teams productivity and morale and maybe cause you to lose a major client. Why? Because you hired a lemon.
According to leadershipIQ a staggering 46% of new hires are considered mis-hires within the first 18 months. These mis-hires can have far reaching effects on your business that you couldn't prepare for.
What can you do to try and fix the problem? Although firing them seems like a good option, it means you have to give them a severance package and invest more money into a new search. Unless you make some changes in the way you screen and train new hires you are bound to hire another mis-hire at some point. Instead of engaging in the go nowhere cycle of hire and fire, take these steps to rehabilitating your mis-hires and review your hiring practices to make sure you avoid hiring another lemon later on.
Make them a follower
Every leader needs followers and who better to be a follower than an employee who has no ability to be a leader within your company. Followers keep the leaders within your company from engaging in a power struggle by allowing each leader to have the workforce that will allow ideas to come to fruition.
Let them do the busy work you were avoiding
People hate sitting around doing nothing. The same goes for your mis-hires. They’d rather sit at their desk doing busy work than sit around and spin in their chair. That makes them the employee of choice to do those time consuming tasks that take up the time of your best performing employees.
Train them with incentives
Have you ever thought about implementing incentives to encourage your worst employees? These incentives are nowhere near the rewards you give your best employees, but they can consist of letting your employee go home thirty minutes early once they completed their tasks, or letting them sit out of the mind-numbing financial meeting as long as they complete their sales graphs without extensive help.
Give them a Mentor
Although you and your employees may not have hit it off with your mis-hire, another leader in the company who doesn’t know their lack of work ethic may hit it off better. A mentor can encourage the mis-hire to better themselves and inspire them to change how they engage with your team
Identify their Strengths
Maybe your mis-hire really isn’t a bad employee, but they are just bad at their job. Their strengths simply don’t align with what they were hired to do. Therefore, find them a job within the company that does align with their strengths. Introduce them to other people within the company and reinforce them that it is okay to leave your team to join another team.
Review Your Hiring Techniques
Albert Einstein famously defined insanity as doing the same thing over and over again and expecting different results. If you continue to use the same hiring techniques you are going to continue to hire the same bad lemons. That’s why companies are increasingly beginning to hire outside recruiters: to add another layer of screening to filter out bad candidates. Not only do recruiters allow another layer of screening, but they are able to get you passive candidates that are already high achievers. Recruiters get you invested candidates who turn into invested employees.
There is a Solution
Don’t lose hope if you hired a lemon. Bad employees can often be rehabilitated to become your best achievers and future leaders within the organization. However, this comes with a warning. Too many lemons will come at a cost.
That is why companies invest so much in getting their hiring practices right. DCAProsearch has proven time and time again with our hires that the right employee can increase profits, productivity, and morale of the entire office. Companies have recognized that our recruiters get it right. That is why we boast a 92.8% repeat business and referral rate for the quality of our work. Stop hiring lemons and start hiring a recruiter to lower your chances of ending up with a lemon.
The push toward multiculturalism has revolutionized how many companies view potential new hires. Rather than enforcing congruency in how they require their employees to think, companies are finding the value in diversity of thought and various points of view that come with multiculturalism. Multiculturalism has become the buzz word among HR departments and hiring managers as they strive toward hiring employees from different cultural backgrounds and disciplines of thought. However, multiculturalism cannot remain simply a mandate from the Human Resources that only affects the hiring process. Rather, multiculturalism has to become a transformative movement within the company that reinvents company culture.
A movement serves as a force that revolutionizes the values and decision making process of a company, leaving no process untouched. After all, diversity and inclusion is a two-step process. Diversity cannot sustain itself without inclusion. Although hiring multicultural talent is beneficial toward improving diversity of thought, if companies do not take active steps to foster a multicultural movement then diverse thinkers will feel marginalized and excluded, stifling your employee’s ability to fully participate in the culture of the company. Therefore if companies want multicultural talent, they need to take the time and resources to ensure that multiculturalism is fully implemented in every process and task that occurs within the workplace. It may sound like a huge process, but there are actually proven ways that companies have supported the movement toward true diversity and re-imagined what it means to be a multicultural workplace.
1) Develop Diversity Group Think Tanks
Most large corporations consist of thousands of employees each coming from various backgrounds. With so many people, minority voices can often be muted by the thousands of other voices within the company. Diversity groups serve as a means to unite similar voices into a force to promote inclusion for marginalized employees. L’Oréal has landed itself a top 20 spot on the Thomson Reuters Diversity & Inclusion Index for their incorporation of diversity groups within the workplace. With think tanks such as disABILITY, Out@Loreal, and Women of Color L’Oréal employees are empowered to speak out for new inclusive corporate policies and develop product for under served consumer groups. This strategy has resulted in significant growth for the brand, increasing their sales in emerging and multicultural markets by nearly 10% versus 7.1% overall according to the recent financial statements made public in their 2018 annual report.
2) Encourage Diversity Mentoring
Mentoring is often praised for developing new talent, but it also serves as an opportunity for both parties involved to learn from each other. Part of Pricewaterhouse Cooper’s (PwC) Diversity & Inclusion strategy is to encourage their employees to participate in diversity mentoring and sponsorship. Upper-level management is often eager to mentor lower-level employees who come from different backgrounds and bring different points of view. This not only develops management from within but it encourages employees to develop open minds and find solutions that they may not have seen before.
3) Incorporate Multicultural Teams and Management
Every year the group Working Mothers releases their list of “Best Companies for Multicultural Women.” Consistently on the list are companies like IBM, Deloitte, P&G, and Accenture. A Forbes report looked into what these companies all had in common and found that the CEO’s of these companies actively promoted three things: They all provide an annual update on diversity to the board of directors; they all require a dedicated diversity executive to update them on diversity metrics; and they all meet regularly with a diversity executive to review goals and performance. These companies invest in diversity at all levels of the company and integrate it into all teams. These are key actions that companies can take to achieving their goals for Diversity and Inclusion.
4) Measure Diversity Initiatives
The French hospitality company Sodexo was recently recognized in France for having the greatest gender balance within their board consisting of 53% women and a female chair. Sodexo Chair, Sophie Bellon, attributes their stride toward representation on setting goals and measuring. “What gets measured gets done,” said Bellon. Many companies have adopted similar strategies, setting goals to have their company diversity match the demographics of the nation or city they reside in. While goal setting can be a good way to motivate diverse hiring practices, it is important to recognize the difference between a goal and quota. The difference being that goals recognizes the value of diversity and encourage diverse hires while a quota forces hiring practices without valuing what diverse talent brings.
5) Serve Multicultural Audiences
Having a multicultural team also makes it easier to expand into multicultural consumer spaces. Multicultural advertising agencies will all be quick to tell you the secret toward targeting multicultural audiences is to hire employees who mirror your audience. A Harvard Business Review case study revealed that cosmetic giant L’Oréal actively seeks to hire multicultural talent in their product development teams to find opportunities in new markets and to serve a diverse consumer base.
6) Value Diverse Points of View
The very nature of multiculturalism in the workplace is to develop diverse points of view and gain an understanding of solutions that differ from what your company was doing before. P&G Chief Brand Officer, Marc Pritchard, told an audience that “If you aren’t doing multicultural marketing you aren’t doing marketing” at the 2018 ANA conference. Therefore, valuing and empowering multicultural voices is the first step to being able unlock the benefits of a multicultural team.
7) Invest in Cultural Brokers
Although multiculturalism has been recognized by most Fortune 500 companies to be beneficial to the workplace, often times, multicultural teams develop the Tower of Babel Syndrome where team members talk past one another without understanding and teamwork breaks down. That is where cultural brokers come in. Sujin Jang, assistant professor of Organizational Psychology at INSTEAD, recently published research revealing that in multicultural teams cultural brokers can be useful to navigate and translate the different points of view. She writes in her research that “[Cultural brokers are] team members who have relatively more multicultural experience than others and who act as a bridge between their monocultural teammates.” Therefore, investing in cultural brokers can help with team morale and efficiency within the office.
Multiculturalism brings substantial value to any company, but it cannot remain simply a mandate from HR. Multiculturalism is a state of mind and a movement that has to be adopted by every member of the company and woven into the company culture. Therefore, if you are looking to promote multiculturalism in your workplace, be sure to create a plan that also involves inclusion initiatives. Utilize multicultural recruiting agencies to source multicultural talent and provide tips on how to implement inclusion strategies. Hiring diverse talent is great, but without promoting proven inclusion programs your talent will leave you as fast as they came in.
You walk into work and on your desk you find that one of your best employees has just handed in their two week resignation. It’s upsetting news, but unfortunately every hiring manager will have go through the process of replacing talent. The question is, where do you find this talent? As a recruiting specialist with over 23 years of experience, I can tell you that it’s not via job boards or your corporate careers website. In fact, those are actually one of the worst places to post your open positions because anybody and everybody can apply, qualified or not. Job boards are not everything they are cut out to be for a few reasons.
You Don’t Have the Time
Let’s be honest. Are you actually going to look through every single resume? The honest answer is no, because you just don’t have the time. The average job posting receives 75-250 resumes. While more resumes may seem like a good thing because you can screen more candidates, it is also a time consuming task that neither you nor HR can devote your time to. Although, many companies have attempted to speed up the process by utilizing programs that scan resumes and send back any that have matching keywords, the truth is the program can never replace a human when it comes to finding great talent. Resumes are a story of growth and experience. Robots aren’t programmed to find potential between the lines, therefore they will miss things that you might find valuable. So either way you are going to lose great talent for one reason: you don’t have time to do it yourself.
The Applicants are Cheating on You
The resumes you get on job boards are from what we call, professional job searchers. While you’re working, their 9 to 5 consists of applying to job after job. There may be a valid reasons for this, and being temporarily unemployed is not a bad thing. However, you know without a doubt that you are not the only one they are sending their resume to. They are not invested in you and your company, they are instead focused on landing any job that will call them back. As a hiring manager, you should want the candidates that you are recruiting to be invested in you and excited to work for you, not any company out there. Invested candidates become invested employees, and you only deserve employees that are invested in the success of your company.
The People You Want Don’t Look at Job Boards
You want professionals who have a proven track record of success and who enjoy coming to work. Hate to break it to you, but those professionals already have jobs and they are not going to be looking at your job posts. However, that doesn’t mean they aren’t interested in a new opportunity. If you want passive candidates you are going to have to find them and approach them yourself. This means asking your network, scouring around LinkedIn or candidate boards, or attending networking events. All of which are very time consuming tasks that don’t guarantee that you’re going to find the talent you are hoping to find.
Your Resume Database is Outdated
When was the last time you collected resumes? It was likely the last time you posted an open position. Therefore, your resume database is going to be out of date. As time goes on people progress in their careers. The marketing director who submitted their resume two years ago isn’t going to want to apply for an open marketing director job now because they are further in their career now. Furthermore, candidates who used to be unqualified have likely completed tasks and projects that would make them qualified now, but you don’t know about it because you don’t have an updated resume. Therefore, if you aren’t regularly updating your resume database the candidates you pull do not exist anymore, and any resume will be old and inapplicable to your current search.
You Want an Outside Opinion
Hiring from a job board usually follows the standard hiring process of resume, phone interview, in person interview, fly in, and hire. The process is typical among most companies, but it offers hiring managers very little time to really get to know the applicant. As a result, according to LearshipIQ only 19% of all new hires are considered successes by hiring managers, whereas, 46% were considered to be mis-hires. The hiring process does not give hiring managers enough time to evaluate whether a candidate would be successful or not. Therefore, you want another invested party involved in the hiring process so they can get to know the candidate outside of the typical process and give their second opinion.
If not on job boards or the corporate career site where should you find applicants for your open positions? The answer is simple: use a recruiter.
Recruiters are devoted to finding you the best talent based on your needs. We not only get to know you and your company, but we become your ambassadors to the passive candidate network. The candidates we send you are unavailable on job boards, and we are able to get to know them on a more personal level than the typical hiring process allows ensuring that they have the skills and qualifications that you need. Furthermore, when we contact qualified passive candidates, as your ambassador, we pitch your company for you, thereby building their interest in your position.
Recruiters do what a job board fails at. We provide candidates that resonate with you and your company. While only 19% of employees hired from typical hiring methods are considered a success, DCAProSearch has a 92.8% repeat business rate due to the success of our candidates. Recruiters are invested in their clients and we find talent who are just as invested. The majority of our candidates rise up the ranks to become directors, VPs, and managing partners. Therefore, while job boards find resumes, recruiters find talent that is invested in your company and your success. So stop posting your open positions on job boards and call a recruiter, because you deserve talent that is just as invested as you.