Despite the importance of diversity in the workplace, corporate America continues to struggle over one crucial question: How can companies do a better job hiring more diverse talent?
“Our clients, especially Fortune 500 companies, have consistently listed diversity as a metric for success,” according to Raines International Managing Director Josh Zigman. “As search partners,” he continues, “our goal is to provide balanced slates on 100% of our assignments. Here at Raines International, we have been successful in maintaining this standard by continuing to network and develop relationships with people from a variety of different backgrounds.”
Echoing Zigman’s sentiments, Gravity Media’s co-founder and CEO Yuriy Boykiv reminded us of the importance of diversity in the corporate world in a recent article for Inc. and laid out a few ways firms can attract diverse employees.
“In today’s world of infinite possibilities, the most agile and profitable organizations know that diversifying their employee base directly correlates to their bottom line,” Boykiv explains. “Understanding that our differences herald tremendous opportunities, large-cap companies are actively embracing a multicultural talent base making them more poised to ‘win’ as compared to other more homogeneous corporations.”
Pointing to how diversity helps innovation, happiness at work and relationships with consumers, Boykiv suggests companies support communities at work or recruit from diversity organizations on campus. Companies can take it a step further by offering actual, tangible benefits like paternity leave or mentorship opportunities.
Companies Boykiv highlighted for their diversity outreach efforts include AT&T, Apple, Marriott, Bank of America and Accenture. We checked out these companies to see how they incorporate and encourage diversity and inclusion.
For example, Apple’s diversity motto is “inclusion inspires innovation.” Apple broke down its new hires in 2015 to show its global hires were 35% women. In the U.S. last year, new Apple employees were 19% Asian, 13% Hispanic and 11% African American. Apple also partners with dozen of advocacy groups including the Human Rights Campaign and spent more than $3 billion in 2015 with “small and diverse suppliers.”
Bank of America has a Global Diversity and Inclusion Council to promote diversity strategy. The company also donated $300,000 to the OneOrlando Fund following the shooting at the Pulse nightclub and became a Legacy partner for the 2018 Special Olympics USA.
AT&T’s Diversity Council requires diversity be a part of its business strategy and hosts a number of nonprofit groups dedicated to helping various communities. These groups, according to AT&T, “provide support, advocacy, education, mentoring and more to groups ranging from culture populations within AT&T and our communities (such as African Americans, Asian Pacific Islanders, Hispanics/Latinos, Filipino Americans, Native Americans and Asian Indians) to military veterans, the disabled, members of the LGBT community, female employees, young and aspiring professionals within our company and those with years of experience.”
At the end of the day, according to Boykiv, one thing remains clear: if we want to win the war for diverse talent, companies must utilize and grow upon these strategies and success of companies like AT&T, Apple, Marriott, Bank of America and Accenture, which are “being proactive and genuine about creating scalable, inclusive and representative cultures.”
Click here to check out more of Boykiv’s thoughts on the “War for Talent: How Large-Cap Companies are Fighting for Diverse Workers.”