Diversity, Equity and Inclusion policies in the workplace are becoming more and more important, impacting employee retention rates and putting companies without them at a competitive disadvantage. Companies with a lack of, or an unfair Diversity, equity and inclusion policy risk losing employees. More than two-thirds of workers say they will look for a new role in those circumstances. Ethnic minorities, women and the younger workforce are those most concerned over poor policies and procedures and are the most likely to turn roles down for this reason. It’s important for companies to move with the times and appeal to the younger generation – the future of our workforce- if they don’t want to risk a drain in talent.
A third of UK workers have said that their current employers do not actively have a gender pay equality or diversity, equity and inclusion policy despite them openly talking about their importance. Upper management and HR teams are responsible for driving DEI policies within their respective companies. However, a quarter of employees say that no one is currently driving it or that it has become the responsibility of the employee.
Companies should be looking to increase their transparency around diversity, equity and inclusion policies and start to take accountability if they want to progress in the modern market. Leaders should act as role models and lead by example. Moreover, management and HR teams need to take charge and lead the DEI policy processes. Management and HR have the resources to align processes and systems with their core principles, policies and company culture, making it easier to adopt throughout the company.
The current recruitment market remains candidate driven. Meaning employers will want to ensure that they are doing everything they can to attract and retain workers. Over the last couple of years we have already seen a dramatic change in how employers now approach recruitment to be able to compete in the market. Flexible working styles, increased salaries and improved additional benefits now flood the market, putting those lacking at a competitive disadvantage. However, candidates are no longer interested in the amount of benefits in the package but moreso the type of benefit and how it aligns with them and their daily life. For example, flexible working is more important to those who are unable to undertake traditional full-time or work-place jobs than additional leave or discount packages.
Candidates are able to pick and choose and can not only dictate the type of role they apply, for but the type of company they want to work for too. They are no longer complacent and are looking for companies that reflect them as a person, aligning themselves with the ethics of their prospective employers. With everything moving online now, employees want to work for a company they can share on social media with friends/family/the world with pride.
Moving forward, when trying to attract talent, employers should look at their policies and procedures in addition to and alongside their benefits packages. Particularly useful to consider for employers who are struggling with recruitment even after reviewing and improving their benefits package.
Need help with your Recruitment? For over a decade Allstaff Recruitment has provided an unrivalled Recruitment service in the Bedford and Milton Keynes area. We aim to find you the best match, ensuring that not only the candidates’ skills, competency and experience match your requirements, but their personality and work ethics match too!