A recent survey by Eagle Hill Consulting found that nearly 53 percent of US workers lean on the DEI impact on job decisions – they choose where to work based on the company’s commitment to Diversity, Equity, and Inclusion (DEI) initiatives. Surprisingly, only 29 percent of employees divulged that their present employer has taken concrete actions to demonstrate their solidarity with DEI in the last six months.
This report underscores a nationwide trend where job candidates increasingly express a strong interest in diversity in employment choices. While some companies are strengthening their DEI efforts, others are scaling back. Recent reports have highlighted instances of high-profile companies witnessing the departure of their diversity executives, laying off DEI employees at higher rates than other positions, or reducing DEI budgets.
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What is the importance of DEI in a career and how has it shaped the workforce today? What can HR practitioners do to veer their company’s ideals towards DEI?
DEI Impacts On Job Decisions
The ‘woke’ culture encompassed awareness of social and political issues hampering African Americans. Come 2010s, it interpolated to matters beyond race, moving on to gender and other marginalized identities as well.
Diversity, Equity, and Inclusion (DEI) initiatives have been shown to yield multiple benefits. Some of them include enhanced employee engagement and productivity, reduced absenteeism and turnover rates, heightened customer service satisfaction levels, cultivating an innovative organizational culture, and the development of improved problem-solving capabilities within teams. Without discrimination or bias, the employees feel valued.
Many smart employees have embraced the ‘woke’ sentiment to ensure that their work culture is welcoming a safe space for all kinds of people.
“A culture where employees feel connected and valued has become a competitive factor when it comes to attracting and keeping top workers.”
– Melissa Jezior, CEO of Eagle Hill Consulting
In a nationwide survey of nearly 1,400 employees conducted by the firm, it was evident that younger workers, particularly Millennials and Gen Z placed a tremendous emphasis on a company’s DEI efforts when making employment decisions.
During the hiring process, candidates expressed a desire to see themselves represented within the company, with 63 percent highlighting the importance of having colleagues they identify with, 59 percent valuing leaders they can relate to, and 52 percent considering DEI a priority for the CEO. They also stressed the importance of employee perspectives being valued, feeling safe to be authentic, witnessing transparent decision-making by leaders, and observing a collaborative company culture.
Importance Of DEI In Employment Choices: What Can HR Do?
For organizations looking to bolster their DEI efforts, setting measurable objectives appears to be crucial. HR practitioners can highlight several key measurable goals, including increasing DEI education, advancing toward pay equity, striving for diverse employee representation, building a diversified talent pipeline, and establishing a DEI committee or advisory board.
Interestingly, some groups of workers at their current jobs have noted an increase in their employers’ DEI efforts in the past six months. This includes individuals with physical impairments, LGBTQ+ employees, military veterans, neurodiverse workers, and more non-white employees, such as 39 percent of Asian/Pacific Islander workers, 35 percent of Hispanic/Latino workers, and 33 percent of African American/Black workers.
In contrast, reports throughout 2023 indicate a decline in DEI initiatives across corporate America, with 20 percent of companies no longer offering any such programs. This decline may be attributed in part to a drop in C-suite endorsement over the past two years.
Another study from earlier this year illuminated that for companies concerned about cost-cutting, DEI initiatives may be the first to be reduced. Only 5 percent of recruiters identified DEI efforts as a top priority, and 40 percent acknowledged that job candidates now expect to learn more about a company’s DEI initiatives than ever before.
It’s pretty safe to say that Diversity, Equity, and Inclusion (DEI) initiatives are not merely a corporate obligation or a response to legal mandates; they represent a powerful commitment to creating a fairer, more innovative, and inclusive workplace. Moreover, DEI is not a static goal but an ongoing journey toward building a workplace where every individual is valued and has the opportunity to thrive. The DEI impacts on job decisions and companies embracing it as a fundamental principle, not only position themselves for success in the present but also ensure their long-term sustainability in an ever-evolving global landscape.