One of the most frequently asked questions during our monthly Q&A sessions is why employees leave and how Diversity and Inclusion can help companies attract top talent. Here is how your organization can transform its brand and culture and forever improve Talent Acquisition efforts through Diversity and Inclusion.
The war for talent starts (but definitely doesn’t end) with branding.
Companies around the world are increasingly leveraging their culture as a differentiating factor, ensuring their external branding reflects a culture that appeals to top talent. According to LinkedIn, 80% of talent acquisition managers believe that employer branding has a significant impact on the ability to hire great talent.
With that said, 50% of candidates say they wouldn’t work for a company with a bad reputation – even for a pay increase. Many companies fail to ensure their leaders are leading inclusively. This results in high attrition rates, particularly among diverse demographic groups, which quickly begins to undermine diversity recruitment efforts.
A Columbia University study shows that the job turnover at organizations with a strong company culture is a mere 13.9%. Compare that to the staggering rate of 48.4% turnover at companies with a poor culture.
Good Talent Acquisition is the product of a strong brand that is upheld by a stronger culture
Research aside, it’s generally harder to attract top talent if an organization is struggling to retain its current talent. A positive external brand will only get you so far if organizational culture is not inclusive. Inclusive leadership positively impacts employee engagement, satisfaction, productivity, and retention.
Employees that are happy create the strong backbone of organizational culture. They become your organization’s most credible advocates and establish the authenticity of your external branding.
As always, we would love to discuss this topic with you and answer your questions in the comment section below. Our team also hosts monthly Q&A sessions where we go in-depth on a variety of relevant issues and give attendees the opportunity to share their thoughts and experiences with other professionals in the space. You can learn more, or sign up for updates via our events page.