Diversity helps companies achieve business goals and, in an inclusive environment, 20% more employees state that they will stay at their organization, according to Corporate Executive Board (CEB) research. These findings and others were reported by Jean Martin in a recent “Harvard Business Review” article.
Martin observes that diversity initiatives such as mentoring, diversity councils and affinity groups are supported by management even during tough economic times. But is this investment paying off?
There are few firms with particularly diverse and inclusive populations. CEB research identifies bias, whether unconscious or conscious, as one of the key problems in moving qualified diverse candidates into leadership roles.
Innovative Processes to Counter Bias
Martin cites two examples of companies that utilize “objective-fit analysis” tools. These organizations succeeded in modifying their promotion processes to build diverse candidate slates and neutralize biases.
At Charlotte’s Duke Energy, managers prepare a candidate list for a specific position. At the same time, HR prepares its own slate by querying their data against a detailed position profile. Both lists are used to create the candidate pool. The combined list of qualified candidates may include some not known by the hiring manager.
CEMEX, a cement manufacturer headquartered in Mexico with 42,883 employees worldwide, developed a data tool to analyze employee profiles. Four factors in the profile – experience, knowledge, potential and performance, and personal – are created through lengthy testing and assessment processes. These leader profiles are matched against detailed position profiles to create a candidate slate.
EEOC and OFCCP Compliance Software
Duke Energy and CEMEX’s solutions are good innovations, but the newest technology in compliance should also be considered. EEOC (Equal Employment Opportunity Commission) and OFCCP (Office of Federal Contract Compliance Programs) compliance software can automate and streamline the hiring process, with functions such as recording voluntary EEO information (race, gender, ethnicity) as well as capturing a wealth of information needed during compliance audits, like applicant logs and flow data.
Take Advantage of Compliance Tech to Assess Candidate Diversity
When you’re ready to create your short list of candidates for interviews, a report from your compliance software will show qualified candidates (measured against minimum job requirements) with their EEO characteristics. If the candidate pool shows few or no benchmarks of diversity, you’ll know in advance that more work is necessary before the interviews start; for example, explore diversity job boards.
