DEIB is a Nice to Have? Good Luck Attracting and Retaining Talent if You Believe That
Summary:
In this episode, the importance of diversity, equity, inclusion, and belonging (DEIB) in building high-performance teams and creating a culture of innovation. They highlight the negative impact of a lack of diversity on employee engagement, turnover, and the ability to attract top talent. The guest emphasizes the need to embed DEIB principles throughout the entire organization, from the employee landscape to recruitment processes. They explain how diversity drives innovation and enables organizations to better connect with a global customer base. The guest also explores the impact of DEIB on retention and talent attraction, highlighting the benefits of a diverse organization in filling positions faster and reducing burnout. They conclude by emphasizing that organizations that prioritize DEIB have higher performance outcomes than those that do not.
Key Takeaways:
Lack of diversity leads to low employee engagement, high turnover, and a thin talent pool.
Embedding DEIB principles throughout the organization is crucial for building high-performance teams.
Diversity drives innovation by bringing different perspectives and ideas to the table.
DEIB should be incorporated into all aspects of the organization, not just technical or development teams.
DEIB improves retention and talent attraction by creating a more inclusive and appealing environment.
Timestamp
[0:00:00] Lack of innovation and high turnover in organization
[0:00:21] Lack of diversity as a root cause of problems
[0:00:54] Importance of embedding diversity, equity, inclusion, and belonging
[0:01:26] Trust as a key factor in building a high-performance team
[0:01:52] Diversity driving innovation in technical teams
[0:02:41] Building solutions that resonate with a global customer base
[0:02:55] Impact of diversity on retention and talent attraction
[0:03:49] Faster job filling and reduced workload with diversity focus
[0:04:14] Lower performance outcomes without embedding diversity
[0:04:46] Importance of embedding diversity for organizational success
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Transcript
How Is DEIB Critical to Building More Engaged Workforces_-_1
DR. Jim: [:Tell you, what are the faces of your team look like? What are the backgrounds of your team look like? And I would wager that if you're experiencing one or more of those things that I listed off, you're probably dealing with an employee landscape that's largely uniform and you have a substantial lack of diversity within your organization.
ty, inclusion, and belonging [:And when we're talking about issues of employee engagement and retention and turnover, you're pushing a boulder uphill. If you haven't included. D I B in your efforts. So one of the things that you need to look at when you're building a culture where your employees are engaged, your managers are empowered, and you're moving towards becoming that elite organization.
You need to have an environment that has trust embedded in it. And one of the ways that you can do that is by making sure that across your entire organization at all levels, you have diversity baked in. Because if you're a line level, people can't see someone. who is like them in positions of power and authority, they're going to be disengaged.
DIB is one of the key things [:If you have a technical team that is staffed by people all over the world the ways that they come up with solutions. Or the things that they think about in designing a solution that best aligns with the needs of your customer base, a global customer base is going to be much closer together than a development team or a technical team that comes from just one part of the world or one sort of background.
So that's another way that you need to think about how are you embedding diversity, D I B across your entire organization. That's just not for development teams or technical teams. You need to incorporate that in your marketing sales. of the organization so that you're building solutions and going to market in a way that resonates and connects with a global customer base and has a really strong innovation engine derived from all of those differences that exist within your organization.
ng the importance of DEIB in [:If your organization is diverse, when you look at embedding the IB across the entire employee life cycle, and especially when you're looking at talent attraction and your recruitment processes, now you've led to the market. In a way that opens up a broader candidate pool. And because that candidate pool sees inside your organization at all levels, faces and backgrounds that are similar to theirs, you're going to have better capability in bringing people into the organization.
So what does that mean in terms of business outcomes? Your jobs are going to get filled faster. Your people. that are already inside the organization are going to be less burnt out because they're not dealing with scenarios where positions are left open and they're handling a massive workload when somebody is left.
So you [:The pathway to achieving those objectives is made a lot easier. If you've started with embedding the IB across the organization, the organizations that don't. Do that and the studies have borne this out are going to have lower performance outcomes than those that have. So if you as a leader and you as a manager of a small to midsize organization wants to get an edge, you need to really look at how you're embedding the IB across your entire environment.
