diversity & inclusion – Page 2

5 proven strategies to improve employee retention in 2022

Posted on June 23, 2022 by naveen

The pandemic spurred on remote work models and for most, this was a welcome change from the ways of old. However, despite the autonomy and enhanced productivity, issues like burnout stayed a concern. In fact, burnout numbers increased significantly in 2021 with 52% of employees experiencing it as per an Indeed report. This comes as no surprise, especially with regard to the Great Resignation and the factors that led to it. With millions of employees leaving their companies, low pay and insufficient growth opportunities were two of the top reasons for 63% of employees quitting their jobs. Even in 2022, the issues persist, with 88%of employees on the fence about their company.

For those who quit, things weren’t grim. In 2021, 61% found a new job with ease, with 33% finding a new opportunity fairly quickly. Much of this success is attributed to companies adapting to the need of the hour. By offering better perks in line with evolving needs, employees found a better fit. In fact, over 50% of the employees who quit now have better pay, more flexibility, career growth opportunities, and more, according to a PEW report.

Revised strategies gave companies a competitive edge, and the same goes for retention too! The models of yesteryear are no more suitable in a digital landscape, and to retain talent, leadership must think outside the box.

To shed insight on trending winning strategies, here are tried-and-tested strategies for enhanced retention.

Maintain transparency to build trust

Trust and transparency are key to retaining employees and also building organizational culture. While both these elements exist in many forms, when it comes to retention, work responsibilities and salaries come into question most often. Companies looking to retain their talent must realize that trust and transparency can only be established if it is uniformly enforced across all operational verticals.

Netflix, on the other hand, established trust by assigning responsibility. Through the ‘No Vacation Policy’, Netflix offers unlimited paid leaves to its employees, and trusts its employees to do what’s best for the company. As a result, it has an under average turnover rate of just 11%.

Encourage self-expression and identity

A toxic work environment is a major reason why people quit companies. Naturally, the fix here is to build a healthy environment, one that focuses on employee satisfaction and engagement. One effective way is to encourage employees to bring their whole authentic selves to work. A great example of a company that fosters this culture is Northrop Grumman Corporation.

Featuring amongst the Fortune 100 leaders in employee retention, their core philosophies are centered around diversity and inclusion (D&I). At the company, employees are encouraged to express themselves however they deem fit. In fact, this kind of messaging enjoys the support from upper management, as their CEO is vocal about freedom of expression. Northrop Grumman Corporation was even celebrated for its diversity in 2020. All of these factors combined help it enjoy the retention rate it does.

Invest in employee career development

When employees feel that the company is invested in their career growth, they are more inclined to stay. This is an undeniable fact, especially for millennial workers, 41% of whom say that it is a vital factor of job satisfaction. A key aspect of career development for employees is internal mobility. Companies can make internal mobility a key factor as it can help employees learn new skills and improve retention. Research reveals that companies can increase retention at twice the rate by implementing internal mobility.

One of the world-renowned companies, Google has an 80/20 program that allows employees to explore and do side projects. The program encourages employees to put 20% of their time into side projects to help them advance their skills and capabilities. A program like this also allows employees to break free from their routine and change things which helps boost innovation, critical thinking, and employee relationships.

Personalize compensation and benefits

Fair compensation and benefits that meet employee needs can help companies reduce attrition by 56%. This not only improves retention, but also helps attract the best of the best in the industry. One of the companies that have implemented this strategy is Haro Helpers. Along with a standard compensation package, the company also gives employees a range of benefits to choose from. This includes bonuses, streaming services, commission, mental well-being, and more. This helps employees decide what they want when it comes to perks and benefits, which in turn improves satisfaction and retention.

Another aspect in terms of compensation and benefits is paid time off and rewards. Rewarding employees helps keep them motivated as well as valued in the organization. Apple, among the top global companies, offers its employees additional paid time especially during holidays. The simple policy works wonderfully in conveying the message that Apple is working for their employees. Moreover, the company also offers rewards based on the job location and culture. This helps employees feel valued and gives them a sense of belonging.

Recognize and reward employee efforts

Recognition and rewards have a direct effect on employee motivation, 72% of employees would work harder if they felt appreciated in the company. Not only that, recognition also has an impact on retention rates. A survey in 2019 revealed that 63% of employees are less likely to leave the organization if they were recognized. Naturally, this means companies should focus on strategies that not only recognize their workforce, but also reward.

Fortunately, reward programs can be clubbed into the compensation package. TCS, a leading company in India had a retention rate of around 11% in 2019. Much of this success can be attributed to the fact that it invests in its employees. What’s more, TCS offers employees a retention bonus on a yearly basis. This incentivizes loyalty, and may even impact motivation for some. When it comes to recognizing its employees, Infosys has a promotion cycle that happens on a quarterly basis. These promotions double-dip into career growth for employees, while also ensuring engagement regularly. With one of the top places to work at, Infosys has an attrition rate of 20.4%.

Employee retention is among the top concerns of CEOs, but these strategies can enable organizations to better retain their top talent. A proven approach is to create an engaging environment where employees feel a sense of belonging. Research shows that when employees feel a strong sense of belonging in the company, there is a 50% reduced risk of turnover.

Ensuring this level of engagement is something that should be built into the culture, and enforced right from the early stages of recruitment. With Talent500, you can do just that and build engaged teams efficiently. Our AI-powered tools ensure the best fit from a diverse pool of pre-vetted talent. What’s more, our processes ensure 5x faster hiring, which translates to faster deployment of services in a remote setting. To know more about our talent management services and the solutions ready for deployment, request a consultation.

6 things emerging and established leaders can learn from the failure of startups

Posted on June 23, 2022 by temp

Learning from the success of unicorns is wise, but there’s equal, if not more, insight to glean from startups that crash and burn. A forerunner to success, failure is part and parcel of any undertaking and those that succeed usually learn from what went wrong. For leaders, whether it comes to policy reform, employee management, revenue generation models, or any number of business practices, startups are a goldmine of tested theories. This is mainly because a vast number of startups are launched every year, with nearly 90% failing. Quite a few don’t make it past the first year, and knowing why can give leaders an edge.

In many cases, the answer to the why of it all comes down to insufficient capital and dwindling market demand. If not these, company culture comes into question, which without the right ideals, is merely a buzzword. A lack of policies that reinforce company culture or poor employee management at senior levels can put viable startups on the path to failure. Further, as the millennial workforce grows and finds its footing in startups, newer enterprises can find it hard to adapt to the modern employee.

All of these factors pose a challenge for modern leaders, and to get the formula to success right, learning from those that have come up short definitely helps.

Here are a few learnings for leaders looking to thrive in the competitive landscape of modern business of startups.

Get the team right – From partners to employees

Building a team with identical values and goals as the company goes a long way to ensure success. A partner or a co-founder who is simply a ‘yes person’ does little. It is crucial to see that their skills and talent complement that of the other members of leadership. In fact, not having the right core team members is one of the top reasons why startups fail.

Besides management, having the team members on the same page is essential to ensure that problems do not escalate and lead to the company’s downfall. This is where diversity comes into play, as such teams are known to broaden the company’s horizon. Be it through professional opinions, innovative mindsets or simply fresh perspectives on a number of problems, leaders stand to gain a lot from team building appropriately.

Balance the finances, business model, and product/service

The business model, finances, and product/service of the startup are vital aspects that build the foundation for success. As a result, balance and harmony between these aspects are non-negotiable, yet many companies fail to establish them. Research reveals that 38% of the startups fail because of insufficient or improper management of the capital gathered. Similarly, if the business model is not functional, it will hinder internal processes too. Further compounding the issue, the product or service may also fail to hit its mark. All of these combined inhibit startups and it all stems from imbalance. Modern leaders ought to assess their frameworks to see if there’s balance, and fix where there isn’t.

Encourage innovation to stay competitive

Innovative enterprises will often find success more easily than their counterparts, but achieving it is easier said than done. Most startups are built on innovative advances and there’s no doubting the fact that it is key to getting ahead and staying there. However, failure on this front can lead to massive losses, especially if the competition innovates at a faster pace. As a matter of fact, nearly 20% of the startups are defeated by their competitors, and innovation, in one aspect or another, has a huge role to play.

An effective way to organically ensure innovation is to focus on diversity and inclusion (D&I). A diverse and inclusive workforce creates an environment where people can freely think out of the box. Moreover, their different backgrounds provide new outlooks on various problems. Research shows that organizations who practice and excel at establishing D&I can deliver almost twice the economic profit.

Ensure that there is a demand for the service/product offered

As mentioned above, dwindling demand is among the top reasons why most startups fail. In fact, many start out with the determination to “stick through the rough patch”, even when there’s no sense in doing so as the market demand isn’t there. Data suggests that nearly 35% of the startups fail because there is no need for the product or service offered. Innovation for innovation’s sake shouldn’t be the end goal.

Create a company culture that promotes longevity and stability

The company culture is a critical aspect of any enterprise, and especially so for fast-paced startups. Unfortunately, startups can struggle with this, and failing here has dire consequences. For one, it comes across as a failure on the part of leadership, as a large part of the responsibility to influence company cultures rests on their shoulders. Secondly, in the nascent stages, unfavorable practices of bullying, misconduct, or disregard for policy can be disastrous.

This oversight should be an eye-opener for leaders as should noting the importance of establishing a company culture. One that looks out for its workforce is key. It can help avoid other pitfalls common that come naturally with time, and help with more serious issues like burnout. In fact, a strong culture can help avoid the failure caused by burnout, which nearly 5% of the startups experience.

Focus on employee satisfaction along with customer satisfaction

Employees are just as crucial to the mission as customers, especially in the pursuit of success. This is because engaged employees increase productivity as well as customer and employee retention. For startups, this means lower costs and better margins. In addition, satisfied employees can help improve employee engagement. Increased and improved employee engagement can lead to a 10% increase in customer loyalty, an 18% increase in productivity, and a 23% increase in profitability.

Considering what we’ve learnt, leaders ought to take a few plays from the startup playbook when looking to increase employee satisfaction. These smaller enterprises are often more willing to experiment with policies and come up with winning formulas to attract and retain the best talent.

Failure is a part of achieving success, but leaders don’t have to fail all the time to get there. Learning from those that have been there and done it helps, while being cost-effective too! Remember, enterprises that succeed do so because they bounce back and learn from their mistakes. According to research, the timing of execution plays a pivotal role in ensuring the success of a startup. What’s more, the team that executes is just as important, and building an agile team capable of rising to the task is easy with Talent500.

Equipped with AI-powered solutions, we can help you build global teams quicker and more efficiently, all the while ensuring employee engagement. Besides this, we offer talent management services to establish diverse remote teams and in adherence to country-specific regulations. Request a consultation to know more about the solutions on offer.

Top 5 strategies to attract Diverse Talent

Posted on June 23, 2022 by shanthamurthy

The impact of the COVID-19 pandemic and the Great Resignation offered a new perspective on what the modern employee values most when it comes to their job. From pay equity and clear career development paths to hybrid work models and work-life balance, organizations need to adapt to these progressive needs in order to achieve success. Another crucial aspect in this mix is diversity and inclusion (D&I), which quickly emerged as a priority for top talent, and one not many are willing to compromise on. So much so that research has found that 76% of job seekers consider it an important factor in evaluating job offers, and 32% of employees are less likely to consider working at companies without D&I policies.

Introduced in the mid-60s, D&I is not a new concept but is still a major factor that organizations lack. According to a study, 78% of the employers believe that their organization is inclusive, only 32% of the employees think the same. A primary cause for this gap may be organizations misinterpreting diversity as inclusion. Because even though D&I are interconnected, they are not interchangeable. Misunderstandings here can be costly, and leaders ought to be clear about the distinctions.

What is diversity and inclusion?

Diversity is when an organization’s workforce includes people from different groups and ethnicities. Inclusion is how well an organization values the efforts, contributions, thoughts, and ideas of its diverse workforce. If an organization has a diverse workforce but only certain groups’ perspectives are valued or have authority, then the workforce is diverse but not inclusive.

One of the major reasons why organizations need to focus on D&I is because it is a key employee attraction differentiator and its value in talent retention is undeniable. Besides that, organizations stand to reap many other benefits such as improved performance, enhanced brand image, and increased cash flow and revenue. Thankfully, embracing D&I isn’t a herculean task as it once was, with digitalization has paving the way forward. Now, companies need only adopt the right recruiting strategies and drive policy reform to create a diverse and inclusive workforce. For more insight into these strategies, read on.

Reflect D&I in organizational culture by making it a top-down priority

Hiring candidates from different walks of life and nationalities isn’t the be-all and end-all of creating a diverse and inclusive workplace. Companies have to make D&I a part of their workplace culture and this effort starts at the top. Inclusion-first policies must be put into place and practiced, while also enabling diversity in leadership.

In fact, a lack of diversity in leadership roles can create challenges for the organization in terms of client expectation, employee satisfaction, and innovation. According to a study, gender and cultural or ethnic diversity in the executive roles of an organization were 21% and 33% more likely to outperform in profitability.

Organizations must also ensure that the entire workforce understands and supports the purpose and values of the company. This can start with training and campaigns that help educate leaders about D&I, and how to foster it into the organizational culture. When done right, this shines through during the early interactions, be it the interview or onboarding. Inclusion training can help employees be more aware of unconscious bias and other barriers that can inhibit D&I from setting in. It can also help them recognize these barriers and take the necessary steps to eliminate them.

Keep job descriptions free of biased and exclusive language

Job descriptions are usually the first point of contact, and like with any first impression, companies must get it right. If the language in these postings is outdated and exclusive, it deters candidates. This then compounds the problem as it can become much harder to build a diverse workforce.

According to study, women are less likely to apply for a job if the posting consists of male-centered words. This is because it implies that the organization has a male-dominated workforce and women may not feel that they belong. This inadvertently stifles efforts to have gender diversity and inclusivity right from the get-go.

To eliminate this, organizations should ensure that all job descriptions are properly vetted for language and tone. Going one step further, check for bias or exclusion towards one group and be proactive about inclusion. Organizations should also remember that bias in job postings is not always in the form of gender exclusion but may also exclude age, culture, ethnicity, and more.

Leverage sourcing platforms and channels that lend themselves to D&I

Apart from job descriptions, talent sourcing channels platforms are just as important in ensuring a diverse pool walks through the door. This is particularly key now, amid the talent crunch, as visibility in the diverse talent pools can give organizations a competitive advantage.

Among the strategic routes to consider is to leverage referral programs. Existing employees should be encouraged to refer candidates to help create a diverse talent pool. This is backed by the fact that professionals are more likely to refer candidates who have similar backgrounds to their own. While this has the potential to cause an imbalance, this is where upper management can step in and ensure that D&I objectives aren’t muddled. While often the simplest route, referral programs should be leveraged carefully and are more likely to work well when the existing workforce celebrates D&I at every turn.

Employ a perk package in tune with variegated needs

Non-monetary benefits are still among the key factors that employees look for in an organization. Given the current environment and nature of the digital workforce, the one-size-for-all model simply does not work. It is important for organizations to offer a tailored perk package, one that caters to the evolving needs of a diverse workforce. This inches into inclusion territory and is a tell-tale sign of how much a company cares about D&I as a whole.

Here, optimizations can help organizations effectively target an underrepresented and untapped talent pool. By offering a customized package, these professionals feel heard, understood and are more likely to engage. Apart from diversity, tailored perk packages can instill a sense of pride in the workforce, as it suggests that they are part of an inclusive work culture.

While it can be challenging to create a package that caters to every individual, organizations can start off by supporting people from different cultural and regional backgrounds. An example of this can be floating holidays, where employees can use the holidays as they deem fit instead of mandatory leaves during a certain time. This helps employees celebrate and honor their culture or religion, while also celebrating the freedom granted to them by their organization.

Bridge the gap between the employee’s and organization’s perception of D&I

While employers feel that the organization celebrates D&I, employees disagreed by a noticeable margin. One of the ways to eliminate this gap is by actively taking steps to ensure that organizational values are represented widely throughout the workforce. This can help make employees aware of the efforts made by the organization to bring about D&I. Subsequently, organizations can also ask for employee feedback on areas that are lacking and need to be worked on. Re-evaluating company policies also helps organizations track the progress of their efforts to institute D&I.

Actioning change based on feedback sent by employees provides the opportunity for an organization to show its commitment. It also helps ensure that employees from all groups are heard and that their opinions are valued. This organically promotes D&I in the organization and delivers results. Apart from this, organizations should clearly define the accepted practices to help foster an inclusive and diverse environment.

The positive impact of having a diverse and inclusive workforce is immense. According to a 2017 study, inclusive teams make better decisions twice as fast and in half the number of meetings 87% of the time. The decision and execution of diverse teams delivers better results too. It is important to remember such outcomes are only possible if diversity and inclusion go hand-in-hand. One way to ensure diversity in the talent pool is to partner with Talent500. We offer talent management solutions and help create diverse, global teams.

With automated recruitment tools, we tap into developer communities, peer networks and more to help companies reap the rewards of a diverse workforce. What’s more, with AI-powered insights, we can find the right fit for you and ensure engagement all through. To know more, request a consultation to build diverse teams that deliver.

How organizations can create trust and transparency to attract top talent

Posted on June 23, 2022 by naveen

As the Great Reshuffle gathers steam and shifts the power into the hands of the modern employee, it is imperative that organizations double down on their efforts to attract and retain the best talent. The demand for skilled talent is now higher than ever before, and these professionals demand transparency at every turn. According to a survey, transparency was a top factor for employees when it came to assessing job satisfaction. Another survey suggests that 87% of the employees hoped that their future employers would be transparent.

Naturally, this suggests that companies with a culture of transparency and trust have an advantage over those that do not. Other than strengthening employee retention, trust and transparency bring other benefits to the surface. This includes increased loyalty, camaraderie between employees, productivity, and enhanced brand image. However, in a digital day and age, what does it mean to be transparent? How can organizations approach policy reform? And is being completely transparent the best way forward?

Read on to find out.

What is transparency in an organization?

Transparency in the workplace refers to the efforts made to freely share information that can help benefit employees. This includes executives sharing vital information for better operations and can be either on an interpersonal level, or on a larger scale through media and digital communication tools. In a simpler sense, transparency can be thought of as having a culture of being honest and open with the people of the organization.

For organizations, transparency has now become a critical aspect in most processes, right from the early hiring stages to exit interviews. However, to ensure that such openness is effective, the intent must be made clear to all stakeholders. This negates instances of transparency without any boundaries, which can have detrimental outcomes. In fact, when left unchecked, too much transparency can create a toxic environment. Even if done in the name of honesty, it can fuel hostility and build distrust internally.

Establishing balance is key, but this is easier said than done. To better understand the effective ways to weave transparency and trust into the organizational framework, follow these strategies.

Practice what is preached

Historically, a leader who leads by example has always been the preferred choice. This holds true even today, as employees want to work for companies that practice what they preach. It isn’t enough to simply say that the company believes in fairness and transparency in all dealings, if the actual policies or even day-to-day norms suggest otherwise. The concept of good-to-have transparency policies is damaging and works counterproductively.

Leaders must exhibit behaviors that align with the core values. This sets the stage, exhibiting the desired culture and also clearly defines what is expected from employees. Further, it is vital that upper management commit wholeheartedly. Any lacks or mixed signals pertaining to transparency will breed mistrust in the workforce. According to a survey, 82% of the employees consider leaving the organization because of their boss.

This implies that employee-manager relation is key, and among the key driving factors is trust. When employees see leaders embrace transparency in their work, it encourages employees to do the same. There’s no mistaking that this bond is beneficial and this isn’t to say that there must be a friendship, but rather a professional relationship built on trust.

Build relations through frequent check-ins

Frequent check-ins with employees can foster open and honest dialogue that can ultimately build trust. These check-ins also serve as means for leaders and managers to get feedback and listen to what the employees have to say, be it about the leadership, their experiences, or even pain points. Research suggests that giving feedback after listening to the employees is more impactful than the traditional approach of simply giving feedback. Moreover, when employees are heard, they are more likely to trust the organizations and engage better.

Apart from the above, frequent check-ins can help establish boundaries and enlighten employees on what’s expected from them. Impactful feedback also leads to course correction, which then leads to better performance. With the help of check-ins, high-performing managers can drive engagement, build better relations, and hold employees accountable for their performance. All of this establishes a culture of transparency, which in turn lends itself to better retention.

Eliminate micromanagement

While check-ins are good, too many of them can lead to micromanagement. In the short-term, micromanagement may be able to increase productivity, but in the long-term it is harmful. Continued micromanagement can not only decrease productivity, but also cause a loss of trust between employees and the management. In fact, one of the reasons why employers and managers resort to micromanagement is because they either don’t trust their employees or are withholding information that employees should be privy to. This ultimately boils due to a lack of transparency, and such problems have a rather simple solution.

Micromanagement can also create an environment where employees do not go beyond their comfort zone due to fear of failure. This has an adverse impact on innovation – a known contributor to organizational success. To address this potential bottleneck, management should be vocal and expressive when encouraging experimentation. Top companies in the world have policies in place that allow for this kind of brainstorming, with tech leader Google going as far to celebrate and reward failures.

The idea here is to build trust, and word of such policies and culture in the workplace can be a homing beacon to those with innovative inclinations. In fact, organizations that don’t encourage innovation are at risk of losing their top talent. Making matters worse, talent is also less likely to consider job offers, which leads to increased hiring and onboarding costs too.

Encourage employees to communicate

Communication is at the heart of any initiative meant to drive accountability or honesty in the workforce. As such, organizations should encourage two-way communication, wherein they request employees not only to speak up, but also create avenues or platforms that can help them communicate with the management effectively. Lack of such resources can lead to poor communication, which affects how transparent an exchange can be.

Additionally, better communication helps ensure that employees can come forward to share opinions and ideas even if they are outside the scope of their job. Research suggests that when employees speak up, a majority are more likely to stay at their jobs even if a comparable job offer is available. The same research also suggests that 95% of these employees would also recommend the organization as a great place to work.

Foster transparency as a core tenet of the organizational culture

The work culture is a core determining factor when it comes to talent attraction and retention. Company values define what the work environment is and will be. For instance, a company with transparency as a core part of its culture is more likely to have employees that communicate clearly and can be vocal about what’s valued and what’s not. When done right, employees will also learn to respect transparency and the benefits it offers. The earlier organizations implement this, the better are their chances of avoiding a workplace of evasiveness and uncertainty.

Vet new hires and pick those who respect transparency

For transparency to be truly present in the organization, all members should respect and understand its value. This is critical when it comes to the new hires because any misunderstandings here can cause problems. For one, they will not meet the standards of the organization and may find it harder to play their part.

Hiring employees who value transparency is key to promoting the transparent culture of the organization. Transparency among employees also ensures that a toxic environment doesn’t take hold in the organization. However, assessing this quality and a candidate’s ability to adjust to the culture can be challenging during the interview process. But it is possible to resolve this by having hiring managers ask pointed questions that require candidates to showcase their values and personality traits.

Transparency and trust are cornerstones of productivity and organizational success. According to study, organizations that are built on trust, outperform those with low trust by 286%. There’s no trust without transparency and inculcating these virtues becomes especially important with remote and hybrid workforces. This is because it equips employees with the intangibles needed to succeed in a competitive space, be it remote or in-office. For companies looking to build teams and engage with them right from step one, partner with Talent500.

Build and manage remote teams seamlessly with pre-vetted profiles and find the right candidates that can fit the culture and values of the company. Request a consultation today to know how we can help you build your next global team.

Why employee referrals are crucial for hiring in tech, and how to get them

Posted on June 23, 2022 by temp

Tech companies are in a tussle for talent like never before. Back in 2018, a LinkedIn study highlighted the industry’s Achilles heel: a chart-topping turnover rate, 13.2% at the time. With the pandemic easing, the problem seems to have resurfaced and compounded. Multiple sources now reveal Indian IT majors grappling with an attrition rate upwards of 20–25%. Nevertheless, the silver lining, experts suggest, is that the massive churn in the employee talent pool should settle down as 2022 progresses.

Hiring teams find themselves amidst considerable buzz and tension in the job market. Employees who may have earlier not considered changing alliances, now aspire for value in different shapes and sizes, be it a fatter paycheck or a flexible work schedule. They are open to jumping ship. Simultaneously, the rapid pace of digital acceleration juxtaposed with the sparse availability of highly-qualified, domain-specific talent means that hiring managers must act swiftly and smartly.

There may be no way to entirely ‘short-circuit’ the hiring process. However, treading the plank of employee advocacy has proven benefits: better talent, shorter hiring time, reduced cost per candidate – the works! Here’s why employee referrals are too crucial a hiring method to be left underutilized in 2022.

Why do employee referrals work?

Statistics show that employee referrals amount to a large percentage of any given company’s total hires. Data by Gary Crispin published on SHRM pegs this figure at 28–30%, and this can rise to about 45% if more emphasis is placed on the method.

From the perspective of the candidate, a referral establishes an element of trust. Job listings and company websites provide a minimal amount of data about working in the organization. Getting invited by someone who’s ‘been there, done it’ can create a crucial bond between the potential hire and the company. It’s similar to booking one hotel rather than the other, if for no other reason than the reviews. Candidates are likely to go where they have good reason to believe they will succeed.

From the perspective of the employer, a referral means the candidate is, to some extent, already pre-qualified. The fact that a candidate is referred to the company by someone privy to the work culture and demands can drastically improve the quality of the hire. In other words, candidates coming through employee referral programs are vetted by more than the HR team.

It’s a win-win for candidates and hiring teams, and this is reflected by the fact that referrals enjoy a much higher job-offer rate than regular applicants.

Top advantages of employee referral programs

88% of employers agree that employee referral programs are the best source of recruitment, backed by data from Zippia . Here are some reasons why:

Larger talent pool

An employee referral program grants instant access into the employees’ networks. The best talent may very possibly lie outside the company’s reach, and employee networks can help expand the talent pool exponentially. Moreover, many potential employees may be “passive” about wanting a new job and so, may simply not appear on job boards, search engine ads, career pages, and so on.

Higher conversion rate

Data from software company Jobvite shows that referred candidates enjoy a conversion rate of around 40%. Having such a high number of successful placements vis-à-vis the jobs available is extremely beneficial to the budget. It means spending less on the recruitment process. What’s more, compared to the copious amounts of résumés received through other channels, employee referrals are normally few in number. Companies have access to high-potential candidates through referral programs.

Quicker turnaround time

In a tech world of fierce competition and unrelenting product development deadlines, time is not just money – it’s survival. Here’s where a referred candidate can be gold. The fact that a referral makes candidates and recruiters confident of success translates into a more pleasant recruitment process. Statistics reveal that it implies a shorter recruitment time: 21 days versus the 39-day average, according to data from software company ERIN.

Longer service tenures

Statistics from ERIN also reveal that referred employees stick around longer. Compared to those who come through job boards, nearly double the amount stay committed to a company for double the time frame. Why do referred employees budge less easily? It is probably because they have the inside scoop before joining. They know what they are getting into and make an informed choice to join the company.

Better culture fit

Job listings seek to match technical skills with project requirements. However, will the candidate fit into the team? How will the candidate fare in the company in the long run? A current employee who knows both the company’s culture and the candidate’s personality can help bridge this divide. In fact, recruiters see this culture fit reflected in a high level of employee engagement.

Lower costs per hire

Multiple sources agree that employee referrals are less costly than other sources of recruitment. Companies sidestep the fees they’d encounter along the traditional hiring routes. More importantly, when putting together domain-specific skill, a low time to productivity, and a high retention rate, the result is a better quality employee – at a cheaper price tag!

How to inspire great employee referrals?

Invest in the program

Employee referrals are cost-effective, but they aren’t free! Here’s what companies can offer.

Cash bonus: Keep it attractive and inclusive. That is, the amount should incite action, and it may be beneficial to open the program up to all levels of employees, be it executives or interns.
Non-cash rewards: Incentives such as a ‘paid vacation’, ‘raise in seniority level’, ‘public recognition’, or ‘dinner with the leadership’ can work better than cash equivalents. They build the referrer’s interest in the company and strengthen the company culture

Keep it simple

Devise a referral program that does not have too many terms and conditions. If it is overly complicated, employees will not participate as eagerly. Moreover, create a straightforward process for candidates to be referred: an online form is great. If the referral program can integrate with social media, even better!

Question and respond

Employee referrals are no magic handshake. They don’t have to work: they can fail! Because the quality of the hire depends on your current employee’s experiences with your company and with the candidate, it can be beneficial to get some data on this during the referral process. This will help sift high-quality referrals from those of a lesser grade.

On gaining a referral, respond to the candidate and referring employee promptly. This keeps all parties interested and the program rolling. A quick response gives the candidate the preferential treatment they may expect. Updates to employees tell them their work is valuable.

Employee referrals are extremely valuable, but cannot be the sole plank. They can suffer from low data and a lack of diversity. Ideally, employee referrals should complement other recruitment methods. For instance, when you partner with Talent500, you get access to over 200,000 pre-vetted professionals gunning to fill the ranks at quickly-growing start-ups and Fortune 500 companies. Our AI-powered tools provide access to 5x faster hiring, data-driven profile matching, and multichannel sourcing. Schedule a consultation and learn how to put top-draw talent from renowned talent hubs across the globe within your reach today!

4 Keys to balance autonomy and structure in a remote-first era

Posted on June 23, 2022 by shanthamurthy

After two years of remote work being the status quo, employers appear to be now marshaling their troops back to the office. Simultaneously, a survey by Owl Labs revealed that 90% of workers agreed to being equally or more productive working remotely, with 84% positing that working remotely post-pandemic would make them happier. Some would even take a pay cut to retain remote work privileges. These apparently contrary work models seem to have fused into the hybrid work model. In fact, 74% of U.S. companies have or will implement such a model, according to Zippia.

However, how should a work model that includes remote workers function on the practical level? Should leaders relinquish most of their control over how their employees work? How can structured work have a place in a world where employee freedom is prized? Here’s a quick take on how to balance autonomy and structure in a remote-first era.

Autonomy drives employee experience

The word ‘autonomy’ is closely associated with the ideas of freedom and self-governance. In context, it means allowing the employee to determine when to work and where to work from.

As 2021 played out, one could quickly recognize different degrees of autonomy emerging from company policies:

Low autonomy: In-office days and timings are fixed
Moderate autonomy: Must fulfill certain amount of hours at office
Complete autonomy: Can work at anywhere, including office, at any convenient time

Arguably, there are some businesses that require their employees to work at a low level of autonomy; a nurse, construction worker, or barista needs to be on-site. However, through the pandemic, a majority of organizations realized that they could be a lot more virtual than they imagined. Interestingly, Jabra’s Hybrid Ways of Working 2022 Global Report reveals that autonomy and employee experience enjoy a direct correlation.

What Jabra found was that the more autonomy you afford employees, the greater ‘belonging’, ‘motivation’, ‘productivity’, ‘trust in team’, ‘trust in leaders’, ‘impact’, ‘work-life balance’, and ‘mental health’ they report having.

Key #1: Employee autonomy is mutually beneficial

Autonomy is not inherently opposed to structure

As contradictory as it seems, employees require to be ‘controlled’ by some set of principles if they are to exercise their freedom effectively. It’s similar to having markings that define the length and breadth of a playground to enable play within. Without boundaries, autonomy breaks down.

In fact, a report highlights the impressive degree of autonomy Netflix affords its employees – they, not HR, get to decide about things like maternity leave and travel expenses. Amazingly, employees are willing to earn this autonomy by digging into the company’s foundational documents and aligning their vision with that of the organization.

The report also chronicles Alaska Airlines’ grappling with the issue of how much freedom in decision-making to offers its frontline workers. After meandering through periods of freedom and then micromanagement, the airlines leaned towards autonomy, but one that rests on “well-understood limits”.

The moral these stories teach is that certain principles need to form the basis for autonomy, if autonomous decisions are to safeguard the company as a whole. This could play out in the form of:

Vision and goals of the company
Rules pertaining to work ethic
Broad guidelines for employee behavior and attitudes
Norms for meeting deadlines
Channels for offering and receiving feedback
Training sessions that illustrate good use of autonomous decision-making

Key #2: Autonomy requires some structure and alignment of principles

Transitioning towards the right blend

The future of work is hybrid – but how will it be structured?

Google proposes a flexible work model, wherein its employees come to the office about 3 days per week. “Since in-office time will be focused on collaboration, your product areas and functions will help decide which days teams will come together in the office”, Google’s message to its employees reads. Google also envisions a workforce wherein 60% come to the office a few days a week, 20% work in new locations, and 20% work from home.

Kissflow’s approach is slightly different than that of Google’s. Its REMOTE+ model proposes teams choose between working in-office or remotely. However, every team must work in-office for one week in a month. Kissflow would generously provide accommodation for employees who need to travel for the week of in-office work. To create cross-team bonds and interactions, Kissflow plans monthly meet-ups, quarterly conferences, and offsite trips!

So, is the right blend of autonomy and structure expressed in a hybrid model simply a matter of picking policies that seem attractive? One must search deeper.

Having the right employees

Kissflow is intelligent when it includes in its REMOTE+ model the following line: “We will make a conscious effort to hire employees who thrive in a remote work environment”. The key is to have employees who can deliver when deprived of the social support, structure, and facilities the office offers. So, you want employees who can be self-disciplined when alone, but generous in understanding the organization’s needs for in-person work as well.

Making the right organizational changes

Real estate commitments are a solid reason organizations may be reluctant to divest itself of the control it has over where its employees work. After all, if it is locked into a long-term lease, it may not be able to funnel those finances into improving remote work infrastructure. Another issue is that of employees whose role it was to supervise others. Now, such a role may not be needed; or if it is, it will take added effort.

Navigating such issues is time-consuming, but as you do so, expect your hybrid work model to emerge refined.

Key #3: Achieving the right blend is a process. It demands policy, workforce and organizational tweaks.

Making your hybrid work model viable

Investing in remote gear

When remote work hit the world, many employees made it possible with their own finances. Data from SHRM reveals that 51% percent of remote workers shelled out $100–499 on equipment or furniture. Moreover, 61% did so out of pocket. The major issue here is that such employees lose their sense of belonging with their company. Investing in your employee’s tech gear is a way of saying, “we want you to be autonomous, and we are with you wherever you choose to work”.

Using the right collaboration tools

A 2021 Gartner survey revealed that ~80% of employees used collaboration tools in 2021. The figure hovered around 50% in 2019. Such tools are imperative to sustaining a workforce that’s connected more in the cloud than at the office. Some of the best out there include:

Monday.com – Project management
Zoom – Video conferencing
Trello – Kanban boards
Slack – Team communications
InVision – Design collaboration & digital whiteboard
Dashlane – Password manager
GSuite – Office suite

Key #4: Investment in home and office makes remote and structured work possible

Building the office of the future

Since structured work in the office will be highly intentional, companies need to create spaces that prioritize focused work alongside spaces that promote collaboration. Some ideas from leading tech firms around the world include:

Conference rooms with large screens installed at eye level: this helps with inclusivity in videoconferencing
Café-style seating and wraparound terraces: for an experience similar to home or remote-work settings
Multipurpose areas – to enable collaboration and accommodate employees when many turn up
Private pods with soundproofing – for focused work that may include video calls

These strategies are sure to help you strike the right balance between autonomy and structure. If you are on the hunt for remote-ready candidates, look no further than Talent500. We use AI-powered algorithms to assess profiles across 100’s of parameters and offer access to pre-vetted talent that’s been through comprehensive skill interviews. To build a remote-first or global workforce, book a consultation with T500 today.

Work flexibility: 4 tips organizations can try to attract top talent

Posted on June 22, 2022July 19, 2022 by temp

The pandemic has not only resulted in an irreversible shift in the dynamics of work, but also created a new breed of mobile employees. Today’s workforce prizes autonomy and flexibility, often more than traditional triggers that attract and retain talent like compensation and benefits. Not only is a higher number of top talent demanding flexibility, but many are also willing to look for other opportunities should it not be offered.

The Talent500 State of Talent survey in 2022, conducted among 4,800 professionals across Indian cities, reveals this sea change in mindset: 87% of the tech talent are actively considering a job switch in 2022, and the primary reason for 55% of respondents is a lack of work-life balance. Further, for 83% flexibility is the top consideration for accepting a new offer.

Brushing aside these statistics as a pandemic reaction rather than a pandemic epiphany, can only add woes to an organization’s recruitment drive. Companies today are dealing with record highs in attrition rates and the intense competition in order to bag the right talent. After all, having greater agency over their lives, better control over their schedules, and the freedom to work when their productivity is highest, is what drives the workforce of today.

This phenomenon is not limited only to India or Asia, but complements sentiments across the globe. As per a survey by Slack, 72% of the employees prefer to work in a hybrid model. Other research also found that employees from the US value the flexibility to work from home for 2-3 days a week as much as 7% pay raise. What’s more, 40% of the employees who currently WFH would look for another job if required to work from the office.

While the why is easily understood in the advantages that flexibility offers employees – in terms of reduced stress and chances of burnout, higher job satisfaction and productivity –implementing flexible policies comes with other benefits for an organization. This includes increased loyalty, improved brand image, better employee morale and a larger talent pool to dip into. However, one fact that stands out among all these is the impact of flexibility on employee retention and attrition. After all, 89% of the companies saw better retention because of flexibility. And while it comes with its challenges, organizations can successfully implement and manage flexibility with the right frameworks in place.

Implementing flexibility – 4 tips for organizations

Flexibility involves both give and take. To foster fairness and accountability, here are a few pointers that leadership teams should keep in mind when implementing flexible policies.

Strengthen communication

Research indicates that 86% of employees and executives believe that ineffective communication causes workplace failures. When virtual, remote sessions overtake physical, face-to-face meetings, it is important for organizations to ensure that the employees are able to communicate with each other without any challenges or lags. While internal messaging tools, emails and video calls are all a must-have, what is critical is for managers to establish a clear guideline on which modes of communication require immediate attention and which matters require urgent communication such as those regarding deadlines or availability.

This helps employees respond to time-sensitive matters with ease and be accountable in remote settings. Since communication is so vital to success in such cases, companies can also offer soft skills training to boost this skill. In fact, 65% of employees who received training for communication had a higher performance score as per another survey.

Keep employee expectations clear

In flex work, making expectations clear to employees can help leaders track their performance as well as ensure that employees know the objectives of the employer. Employers can, and should involve employees in the goal setting process. This not only helps employees understand how their work contributes towards organizational objectives, but also feel a sense of ownership and engagement.

In fact, only 30% of the employees agree that their managers involve them in goal setting and these employees are 3.6 times more likely to be engaged as per a Gallup report. Research also suggests that productivity increases by 56% when managers help employees align their goals to the needs of the organization.

Spell out flexible policy terms clearly

Documenting the options that employees have when it comes to flexible work is key to ensuring smooth operations. Such formal policies can help organizations avoid inequities that come with informal and non-recorded arrangements and also help propagate company culture better. It is also necessary that managers or leaders put together the required details before the arrangement comes into effect.

While this may postpone how soon you can offer its benefits to your workforce, it does pay in the long-term. Include the working terms, infrastructural and other requirements, measures for keeping data safe, health precautions, and more in this policy and make it easy for talent to access them (such as via cloud) when needed.

Review performance

Performance reviews, a part of the traditional work arrangement, also have a big role to play in fully remote or hybrid models. For these to work, organizations need to be transparent about KPIs and other metrics used to measure employee productivity and impact. The only change when it comes to flex work is for employers to consider having such reviews at shorter frequency. This helps employees adapt better, keep their eye on the prize, and work towards achieving company goals in a more informed manner.

Managing flexibility – 3 ways for organizations to take the reigns

Implementing flexibility can come with certain disadvantages like procrastination, decreased engagement and loss of workplace culture. Here’s how companies can tide over these for a net positive gain.

Leverage technology

Tech has a starring role to play in most aspects of work today but enjoys the spotlight most when it comes to successfully implementing flex work. Organizations can and should use it to help teams collaborate, plan, learn, and adapt to evolving needs. According to this study, more than 80% of the employees stated that technology empowered them to better communicate and collaborate. Tools that help mitigate cybersecurity risks and keep sensitive information secure are also a must-have.

Make data accessible on a need-to-know basis

With everything going digital, employees need to have access to required data with ease. Easy and instant access to it makes them more productive and keeps them engaged. While this is highly valuable to organizations, a noteworthy aspect is to ensure that employees get access only to data that falls within their responsibilities. With ransomware attacks rising to 35%, a need-to-know access to data can reduce this risk and prevent data leaks.

Encourage collaboration

Collaboration can nurture stronger bonds within teams and boosts engagement. Research by Gallup suggests that those who have close workplace friends are 7X more likely to have better output, higher personal and customer engagement and enjoy greater well-being. To catalyze such relationships, employers can plan virtual celebrations, create intimate virtual spaces for employees to connect with each other, do a daily virtual huddle, and even create separate channels for specific categories as needed. Planning physical retreats as often as possible can also work wonders.

There are many companies who have successfully embraced workplace flexibility including Dell, Unilever, Sodexo and Humana, and yours can too. As a partner in aiding your efforts to hire, manage, and build global remote teams, look no further than Talent500.

With automated hiring processes and pre-vetting of profiles, we can help you find talent that adds value 5x times faster. Our in-depth pre-assessment has helped place 300,000+ professionals and build teams in 50+ organizations. Request a consultation now to know how you can leverage our tools to effortlessly manage and build your remote workforce.

3 challenges and solutions for building strong company culture in a globally distributed workforce

Posted on June 22, 2022June 22, 2022 by naveen

It’s no secret that organizational culture impacts company success as well as employee satisfaction. A positive culture of shared values and healthy workplace behavior enables and empowers employees and managers to be engaged, driven, and loyal. Strong organizational culture also attracts a talented workforce. Nearly 77% of candidates look at the workplace culture before applying for a job, according to a report by Glassdoor. This suggests that a negative perception of an organization’s culture can make it challenging to fill open positions and retain top talent.

While instilling culture across the organization is a challenge in any setting, the COVID-19 pandemic underscored its importance as it significantly impacted productivity and forced leadership to evolve to the new normal. Their reassessment and reevaluation either strengthened the work culture or diluted it. Nevertheless, be it a fully remote workforce, or a distributed team working on a follow-the-sun model, culture is key to creating a sense of genuine connectedness and belonging.

Increased stress, lopsided work-life balance, isolation and job insecurity have all contributed to lower productivity of distributed teams and remote workers in recent times. This is only compounded by company culture that is transactional rather than relational. In fact, companies that managed to instill positive organizational culture, offering their workforce flexibility and transparency, saw big gains. Not only are 68% of teams evaluating their culture to better reflect the new normal, but 62% of remote and hybrid employees and 52% of on-site employees said that their workplace culture had a positive impact on their work as per a 2021 report by Gartner.

Here’s a deep dive into the challenges and means of scaling organizational culture in a globally distributed workforce.

Challenges of building workplace culture in distributed workforce

Fragmented and dispersed workforce

One of the ways to cultivate workplace culture is through shared experiences. In the past, these took shape as shared learning seminars and other such in-person activities. Unfortunately, due to the pandemic, such interactions aren’t as frequent or are fully digital when they occur, and thus lacking in one way or another. This makes building and enforcing a strong work culture challenging in a distributed workforce.

Too much transparency in the workplace

While transparency is essential, especially now, too much is problematic. Companies with an overly transparent culture often face issues of over-sharing, which in turn hampers the ecosystem. For instance, too much transparency about financial struggles, losses or even salaries can lead to unrest, detrimental competition and even unwarranted dismissals.

Increased pressure for productivity

Spurring productivity, while essential to any organization, is among the hurdles companies will likely face when building the right culture. Both managers and employees can make it difficult to set the right values or even act in accordance with them when there is pressure to boost productivity. According to research, 50% of senior leaders stated that this type of pressure is one of the biggest challenges in creating a positive culture.

How organizations can build a strong culture in a globally distributed workforce

Be intentional about culture and celebrate cultural differences

Having a set of principles or values that leaders and the top tier of management believe in and act on, is step 1. Bringing up workplace culture from onboarding and throughout the employee work cycle is key to it being taken seriously. While it is important to have a culture that all employees can share, it is also important to accept and honor diversity. An empathetic culture is mission critical in a globally distributed workforce, since companies are now expected to be diverse. According to this study, 84% of the CEOs said empathy drives better outcomes; the same study also said that 90% of GenZ employees are more likely to stay if the organization has an empathetic culture.

Leverage technology to better communicate and collaborate

Communication and collaboration are critical tools that support organizations in building desired workplace culture. Remote working can have a negative impact on both of these and active measures to counteract such gaps must be put in place. Organizations can assign mentors to the new hires, have online team huddles, and upgrade to technology that streamlines communication. Only through effective communication can the values be imparted into every sector and silo of the workforce.

Lead by example

Actions speak louder than words. For culture to truly set in, the organization’s values must be actioned by top management and the board of directors. Leaders should believe in what they say and do to get the desired results. On the other hand, leaders acting in opposing directions can create distrust among the employees, which then further deteriorates into a negative perception of the workplace. Simply put, when it comes to building the right culture, a ‘Be. Do. Say.’ style leadership is necessary.

Apart from the above measures, organizations should also rely on the in-country experts when managing a distributed workforce. This means that even though company values would be at the forefront in communication between employees, in-country experts should be at the forefront in matters concerning monetary and non-monetary compensation. This is because there are different customs and laws that come into play.

Dependency on the experts here can help with compliance and stronger culture. Talent500 can help you build and grow your global workforce in a seamless way with our AI-powered tools. Request a consultation now to know how we can help you manage your workforce, stay compliant, and engage with employees to cultivate a strong culture.

How to converse effectively with clients as a front-end developer

Posted on June 17, 2022July 21, 2022 by venkatesh

For front-end developers, communication is an essential skill. In contrast to backend developers, they have the active participation of stakeholders in their work. Whether working on a small website or a large-scale application, you will actively communicate with clients.

Speak with confidence

Confidence in your communication is a must to subconsciously convey to the client that you are an expert in your domain. Front-end developers have a lot to discuss with clients, project scope, design, timeline, cost, etc. Everything must be conveyed with the clear objective of informing the client.

If you are wondering how front-end developers include confidence in their communication, here’s an example:

Suppose you have a feature that will make a client’s site faster, then your tone must reflect that you know what you are talking about.

“I think it will help make your site faster” is an unappealing statement. Instead, you should use “By reducing the number of HTTP requests to the browser, I will significantly improve site performance.”

Here the difference is that you sound confident, and the client knows precisely what you will be doing and how it will affect the project.

A word of caution here is to keep in mind to be respectful. During large web projects, there will be thousands of elements and components to work on. Something will slip through the cracks, do not be accusatory. Gently discuss with clients about project requirements or missed tasks.

Communicate roadblocks with a strategy

Clients are an essential part of a business. To get them on the same page, you need to structure your conversations around their needs. It is vital to keep them informed and included in the development process.

Most front-end developers tremble when they have to communicate roadblocks with the client. But it is not that difficult; think of it the same as creating a website’s front page.

You think about the action you want the visitors to take. In this case, navigate the client through the issue without aggravation.

Have a call-to-action ready that speaks to the client and paves the way for communication.

Design the rest of the page, i.e., the conversation around getting the visitor (the client) through the conversion funnel (talking through the issue).

Let’s see it through an example. Suppose you face difficulty with a component design and think you can achieve it with another programming language. It would help if you initiated something like this.

“I have completed the registration module, but we should make the KYC process faster. Right now, you have suggested Vue.js, but it is limited in its scope in performance. We should use Node.js, which is much faster and can be deployed faster.”

Here you are making clients stick to the path you want to take, cementing your authority and expertise.

Set expectations

Establishing boundaries around the project’s scope, turnaround times, response times, and support is crucial. The first step towards this goal is to make the expectations clear from the beginning.

Define the expectations as accurately as possible. It will help the client be clear about the scope of work you will be doing and the timeline. Discuss the project’s timeline with the client before starting the project to minimize the risk of future disagreements.

Most clients like to work with developers who stick to their agreement and put in the hours promised. Set up a proper communication channel and time when you will hold meetings with the client for effective communication. Avoid engaging clients outside this time unless it’s necessary.

Be transparent about your pricing

Be it a rate-based project or fixed hourly rates, the project’s pricing is always the elephant in the room. The final project pricing depends on the complexity of the project and the features you are going to build. Not all features are created equal, and if you do not communicate this to the client, there will be a misunderstanding later on.

Eliminate any scope for miscommunication by putting your pricing in writing. Mention what features you will be working on and that any additional features will cost extra. Be open to the demands of the clients and their budgets. You can compensate for less pay by using technologies that offer better automation and faster delivery. For instance, if a client wants static pages in a JavaScript page, you can use GatsbyJS, which has ready-made static page templates.

Conclusion

Front-end developers are not the awkward, bespectacled geeks who fail to communicate with clients; they are professionals who deliver on clients’ requirements keeping them in the loop throughout the development process.

We hope these tips will enable you to talk to clients professionally about everything related to the project. The key here is to prioritize the needs of the client but demonstrate your value as well for a sustainable partnership.

Talent500 is a platform for front-end developers to explore remote work opportunities with fast-growing startups and Fortune 500 companies. Sign up today to join the pool of elite talent.

Hiring for diversity: 3 best practices to follow

Posted on April 6, 2022 by naveen

Hiring for diversity was once just a practice meant to appease compliance norms, but that isn’t the case anymore. In most organization today, there is simply no room for discrimination, and hiring strategies focus on the value on offer. In fact, data states that organizations that hire without any kind of bias have greater employee satisfaction numbers. Additionally, diverse companies are 33% more likely to outperform their competition and their teams are 2x better at making decisions.

The sheer fact that diverse companies outperform their competitors speaks to the validity of it as a hiring strategy. That aside, it is simply the right thing to do. Moreover, diversification leads to trade facilitation and a chance to explore new market opportunities. Beyond revenue, it also provides increased social cohesion, a welcome benefit that has a major say in public perception. Naturally, every company looking to exist and thrive in a modern landscape must have policies that promote diversity.

Here, setting realistic goals is important and they must align with long term objectives, as is standard for any business practice. Inclusive environments are thriving and the business case for diversity & inclusion (D&I) is stronger than ever, as per reports. If nothing else, it helps steer clear of the steep penalties that accompany a lack of such policies. So, how do companies go about hiring for diversity? Read on for an overview of a few proven strategies.

Diversify against a single demographic workforce

Literature review on D&I provides compelling evidence that diversity unlocks latent innovation, a key driver of market growth. Moreover, the millennial employee is a huge advocate for diversity in the workplace. Data shows that these individuals actively seek out employers with a history of equality among the genders. Women millennials are particularly invested in this regard, looking to see a change in the hiring policies.

Diversifying against a single demographic workforce also promotes goodwill in the market. It creates awareness and has the potential to generate a more diverse clientele. An efficient way to put this into action is to do a thorough audit of the job ad. Scan the language and look for tones that could either alienate or focus on any given demographic. Very often it is the simplest issue of communication that could be the cause of such disparity.

Get rid of unconscious bias with artificial intelligence (AI)

Bias is ubiquitous and universal; it is difficult to avoid. At certain times the blame for discrimination in hiring is placed on unconscious bias, which everyone is susceptible to. Artificial intelligence (AI) holds great promise for eliminating this bias in the hiring process due to two primary reasons:

It remains objective while assessing an entire pipeline of candidates, often faster than humans.
It combines data points using the algorithms to predict the best candidates all the while processing information at a massive scale.

Different software that leverages AI can also eliminate bias in a job advertisement by conducting sentiment analysis. This identifies exclusionary language, while also suggesting alternatives better suited to a more diverse talent pool.

Use blind hiring tools to assess for value

Studies show that a majority (85%-97%) of professionals rely on the mental synthesis of intuition while processing applicants. This simple act of assessment has the potential to develop a bias. Blind hiring solves this issue, as there are no identifiable characteristics shared during the process. Naturally, for a diverse hiring protocol, this approach was widely adopted and rightfully so. Among its main advantages is that it can eliminate gender discrimination from the process of hiring.

This is particularly important as data points out that one in five women are discriminated against during recruitment. When compared to their male counterparts, only 5% reported similar issues. Additionally, blind hiring solutions can eliminate performance assessment errors that may arise when factoring in past experience. This is a common issue that can be a roadblock to establishing diversity.

In general, diverse teams are more efficient and better equipped for the modern world. Organizations must adapt to the new landscape and technology-backed solutions are the way forward. The employee retention improvements alone make it worth the effort, and with Talent500, the hiring process is a lot more efficient.

Our services help companies prioritize their hiring agendas and extract maximum value. Leverage the best talent across a range of developer communities to achieve your D&I goals while attracting the best in the talent pool. To know more, schedule a consultation and explore solutions that can help you build and scale global workforces that deliver.