Diversity, equity, and inclusion (DE&I) have become central pillars in the world of work, with organizations worldwide setting ambitious diversity and inclusion goals to foster more diverse and inclusive workplaces. While these goals are well-intentioned and earnestly declared, there is often a stark separation between what is stated at the head office and what is achieved. Many businesses face challenges in translating their DE&I aspirations into tangible outcomes, particularly when it comes to global applicability and their readiness to support diverse groups.
Join us as we explore the gap between DE&I goals and reality and discover how Recruitment Process Outsourcing (RPO) can play a crucial role in helping employers bridge this divide.
The Gap Between DE&I Goals and DE&I Success
It’s hard to imagine a business, large or small, who does not have some form of stated diversity and inclusion goal, whether it’s reducing the gender pay gap to improving representation in their corporate mission. So why is it that achieving those goals is proving so difficult?
Setting Ambitious But Disconnected Goals
Many organizations set DE&I goals without fully understanding the nuances and challenges specific to each location or demographic group. Those goals may be disconnected from the practical needs and expectations of employees, making it challenging to gain buy-in and achieve real change. They may also be disconnected from what’s going on in the employment market in their industry.
What works in the headquarters, or in one region may not be effective or applicable in a different cultural or geographic context. A lack of localization can lead to a one-size-fits-all approach that falls short of addressing the unique challenges in each location.
Tokenism in Hiring
Achieving your DE&I goals isn’t as simple as hiring diverse candidates to meet a quota. It requires being adequately prepared to integrate candidates into the business and provide the necessary support for them to achieve success. Being unprepared for these important steps can result in underrepresentation or a lack of retention, defeating the purpose of DE&I efforts.
As we’ve seen in the tech industry, it isn’t enough to say you want to improve. Organizations must take serious steps to increase diversity.
RPO: A Solution for Bridging the DE&I Gap
Bridging the gap between diversity and inclusion goals and reality requires a strategic, localized, and pragmatic approach. By partnering with RPO experts who understand the nuances of DE&I, you can take meaningful steps towards achieving your diversity, equity, and inclusion goals in ways that benefit both your employees and your bottom line:
1. Understanding the Market Reality
RPO providers, like Pierpoint, have specialized knowledge of the labor markets they serve, providing you valuable insights into the availability of diverse talent pools. By closely examining these markets, we can spot unique trends and challenges in various regions, allowing you to set DE&I goals that are not only realistic but also tailor-made to suit the specific dynamics of each location. This localized approach ensures that your DE&I initiatives are finely tuned to resonate with local cultures, laws, and talent ecosystems, for a more inclusive and diverse workforce that truly reflects the communities in which you operate.
2. Creating an Actionable Plan
At Pierpoint we excel at translating our insights, technology, and expertise into actionable DE&I strategies that seamlessly line up with your unique objectives and the realities of your market and industry. These strategies take a holistic approach, going beyond filling hiring quotas. Through targeted sourcing, workforce planning, diversity mapping, and culture-building initiatives, we help you build an inclusive workplace and strong talent pipelines for future growth.
3. Implementing Strategy
There is no universal formula for DE&I success. A skilled RPO provider, like Pierpoint can help you implement customized strategies that are sustainable and impactful. Because we are a minority owned business, we understand the importance of creating a welcoming and inclusive workplace culture, which goes hand in hand with recruiting diverse talent. By helping you build talent pools that incorporate various elements of diversity, such as ethnicity, nationality, gender, cultural fluency, sector experience, and global exposure, we help you implement talent acquisition strategies that meet your goals.
A Case Study for DE&I Success
Finally, we wanted to highlight a case where an organization was able to successfully make and meet its diversity and inclusion goals. Hopefully it will inspire your organization to do the same.
In 2017, Bank of America established ambitious racial-ethnic workforce goals aimed at mirroring the diversity of their clients and communities at all organizational levels. As of December 2022, the results speak for themselves – Bank of America not only achieved but surpassed its DE&I objectives.
With a current workforce where people of color account for 50%, it is evident that the bank’s commitment to inclusivity is more than just words; it’s a tangible reality. Their dedication is particularly highlighted by the fact that Black American employees now constitute 14.5% of their total workforce, and Latino Americans make up 18.8%. These numbers are a testament to the bank’s unwavering dedication to fostering an inclusive environment that mirrors the diversity of their client base.
Bank of America’s DE&I success story serves as a beacon of inspiration for organizations everywhere, showcasing the profound impact of setting bold goals, backed by sincere commitment and action.
For one of our own success stories, read how our multi-lingual team helped Microsoft make 1,200+ annual hires in their North America, Latin America, Europe, Middle East & Africa locations.
If you are looking to make your diversity, equity, and inclusion goals a reality, Pierpoint can help. As a minority owned certified business, we have unique insight into what it takes for organizations to achieve unbiased talent representation and to recruit underrepresented talent. Speak to one of our dedicated consultants today.