How Startups Can Diversify Hiring & Be More Inclusive
Diverse teams bring a multitude of benefits. Research suggests that diversity can have a profound effect on an organization’s performance and development. Here are a few examples:
- Stronger Financial Performance: Ethnically diverse companies are 35% more likely to financially outperform their industry peers.
- Increased innovation and creativity: Inclusive employers are 1.7x more likely to be innovation leaders within their market.
- Reduced employee turnover: Companies that hire employees with diverse backgrounds report a lower turnover rate than their non-diverse competitors.
- Improved Company Attractiveness: Diversity and inclusion initiatives are among the top criteria influencing candidates’ decisions to accept a job offer. This is particularly true for female applicants.
Even though there are clear advantages, many founders struggle to source and screen diverse candidates effectively. That’s why we wanted to share some best practices for diverse and inclusive hiring.