Some organizations pay little more than lip service to diversity and inclusiveness and,
as such, they are destined to remain behind the curve. For progressive organizations seeking financial
soundness and solid growth, diversity is a vital part of their commercial decision-making and strategic
planning. Success is measured by the Chief Executive/Leadership team's understanding and commitment to
integrating diversity into all aspects of their corporation's business. Today, it is widely recognized
that diversity occupies an increasingly prominent place in corporate America's business agenda and is
on every CEO's priority list.
For Bridge Partners, diversity-inclusion in the workplace is a commitment to recognizing, appreciating and
retaining the variety of characteristics that make individuals unique in an atmosphere that champions
individual and collective achievement. Examples of these characteristics include: age; culture; ethnicity;
gender; geographic background; language(s) spoken; race; and sexual orientation.
Given these statistics, effective diversity recruitment has become a crucial element of the strategy in
the war for talent, providing companies with access to the broadest possible pool of available candidates
and to positioning national and international businesses as
Employers of Choice for
both majority and minority groups.
The
cost to businesses of not being adequately diverse is very real. Research has shown that diversity
candidates actively eliminate from consideration companies that demonstrate a lack of ethnic or gender
diversity. Equally, organizations that fail to demonstrate commitment to diversity in upper management
have been shown to lose a significant number of their diversity hires to organizations that offer more
obvious opportunities for advancement. The cost of losing an employee is several times their annual
salary and, as a result, retention has become as important as successful hiring. It is clear that
many organizations still need to develop a better understanding of the specific developmental and
motivational needs of the various populations within their workforce.
Diversity in hiring is seen as an increasingly important factor in
improving corporate performance.
As companies around the world focus more and more on the issue of corporate social responsibility, their approach to
diversity will remain under public scrutiny. A recent series of well publicized discrimination cases, together with
the rapid growth in information available on organizations seen as leaders in diversity, will trigger a more critical
evaluation of performance in this area by external stakeholders and potential employees alike. If an organization's
wider social responsibilities are not reflected in its hiring policies, its status as an Employer of Choice, its
reputation in the business community and, ultimately, its financial performance will inevitably suffer.
The business case for diversity is particularly strong in the consumer marketplace. This is the result of an
explosive growth in ethnic populations. New cross-industry research also shows that women are now responsible for
up to 80% of consumer buying decisions. With an employee base that more accurately reflects their target customer
base, companies are able to develop a deeper understanding of the diverse needs and tastes of their end user's,
as well as a increased richness of ideas, which gives the
competitive advantage in their marketplace.