Diversity and inclusion are increasingly important topics in today’s workforce, and for good reason. Studies have shown that hiring people from underrepresented backgrounds can lead to a number of benefits for companies.
One of the most significant benefits is that it can lead to improved decision-making. According to a study published in the Harvard Business Review, diversity in teams leads to better problem-solving and decision-making. This is because people from different backgrounds bring different perspectives and ideas to the table, which can lead to more creative solutions.
Another benefit of hiring people from underrepresented backgrounds is that it can lead to improved financial performance. A study published in the McKinsey & Company report found that companies in the top quartile for racial and ethnic diversity were 35% more likely to have financial returns above their respective national industry medians.
Additionally, hiring people from underrepresented backgrounds can also help companies to better serve their customers. A study by the Center for Talent Innovation found that companies with more diverse leadership were more likely to understand and connect with a diverse customer base.
Despite these benefits, many companies still struggle with diversity and inclusion. According to a 2019 report from the Kapor Center, Black and Latinx people are underrepresented in the tech industry, making up just 3% and 5% of the workforce respectively.
To improve diversity and inclusion in the workplace, companies can take a number of steps. This can include implementing a blind hiring processes, creating employee resource groups, and offering employee development and mentorship programs.
In conclusion, hiring people from underrepresented backgrounds is not only the right thing to do, but it can also have a positive impact on a company’s bottom line. With a diverse workforce, companies can improve decision-making, financial performance and better serve their customers. Therefore, companies should strive to create an inclusive environment where everyone can thrive and bring their unique perspectives to the table.
How Can Mavericks help?
Throughout the years, Mavericks Recruiting on Demand (“Mavericks”) has developed a niche for building intentionally diverse candidate pipelines. We’ve partnered with a number of tech companies to help them build a more inclusive workforce by focusing on hiring individuals from underrepresented groups. We identify and recruit top talent from diverse backgrounds, including but not limited to, women, people of color, veterans, people with disabilities and members of the LGBTQ+ community. This approach helps to ensure that the tech industry becomes more reflective of the diverse society it serves and also helps to tackle the lack of diversity in the tech industry. We are determined to change the status quo and help companies to build teams that are inclusive, equitable and that represent the communities they serve.If you’re interested in learning more about how Mavericks can help you hire more folks from underrepresented groups, reach out to Kyle Barbato.