Key takeaways:
- Use data to drive DEI efforts and retention strategies: Leveraging demographic data and metrics can help organizations set clear DEI goals and track progress to improve retention efforts.
- Gather continuous feedback to enhance employee experiences: Regular feedback through surveys and focus groups can provide insights into the effectiveness of DEI initiatives and foster transparency and trust within your organization.
- Embrace transparency and authenticity in DEI initiatives: Being transparent about DEI gaps and demonstrating authenticity in your commitment to fostering an inclusive culture can build credibility with employees and external stakeholders.
In a recent Board.org leadership panel on DEI and talent acquisition teams partnering for recruiting success, our Board Members provided insights for improving diversity and inclusion within their organizations to enhance employee satisfaction and retention.
Here are six ways our Board Members said you can retain diverse talent in your organization.
1. Leverage Demographic Data to Improve Employee Retention
Carolyn Larson, Senior Program Manager of Recruitment Marketing and DEI at C.H. Robinson, explained that organizations must embrace a data-driven approach to understand the correlation between a diverse and inclusive culture and employee satisfaction and retention.
“In order to demonstrate our efforts, we always have to show the data,” Carolyn said. “We know that we need to be data-minded. How are we setting those goals for our hiring, our promotion, our turnover? And how are we using data to identify what’s working, what’s not, and where our gap areas are?”
She noted that setting clear DEI goals and utilizing data analytics to track progress identifies areas for improvement and informs your strategic decisions.
Kim Hawkins, VP and Diversity, Equity, and Inclusion Recruiting Program Manager at U.S. Bank, added more on the importance of understanding workforce demographics and tracking metrics to build a roadmap for retention strategies.
She suggested evaluating whether your workforce mirrors the surrounding communities and tracking diverse talent throughout the candidate funnel, from qualification to hiring.
“In order to demonstrate our efforts, we always have to show the data. We know that we need to be data-minded.”
Carolyn Larson, Senior Program Manager of Recruitment Marketing and DEI at C.H. Robinson
Kim also stressed the significance of monitoring career progression and retention once employees are onboarded.
She then mentioned how DEI and talent teams must measure diverse leads and candidate satisfaction surveys and conduct exit interviews to gather more insights for improving retention efforts.
“There’s a lot of data and metrics that you can collect to determine what works for your organization,” Kim said. “You have to understand where your opportunities are first, and then determine what metrics you want to tackle in order to ensure you advance your programs and goals.”
2. Create Continuous Feedback to Gain Insights on Employee Experiences
Kim described how using employee satisfaction surveys and focus groups to gather ongoing feedback from your workforce is essential.
She explained how regular feedback provides insights into the effectiveness of DEI initiatives and creates transparency and trust within your organization.
“You’re going to get a better view if you do it quarterly,” Kim said. “It’s important to highlight the success stories. Have diverse employees tell their story – their authentic stories – why they choose to be there and why they stay. Highlight that and make it available to internal employees as well as external candidates. You can promote that to attract diverse talent as well.”
“Have diverse employees tell their story – their authentic stories – why they choose to be there and why they stay.”
Kim Hawkins, VP and Diversity, Equity, and Inclusion Recruiting Program Manager at U.S. Bank
3. Set Clear DEI Goals and Recruitment Metrics
Paul Hamilton, Former Director of Talent Acquisition at LCBO and DEI Board Alumnus, explained that defining DEI goals and aligning them with your organization’s mission and values is critical for successful retention strategies.
“The first thing you need to do is establish a goal,” Paul said, adding how a goal is crucial for establishing KPIs. “Then once you identify those KPIs, identify the baseline. What’s your starting point to measure and establish your KPIs?”
He shared how these metrics help track progress and establish baseline data to measure improvements over time.
4. Measure Your Initiatives Through Outcome Metrics and Not Just Demographics
While demographic metrics are important, Paul added that you can’t overlook outcome metrics that gauge the impact of DEI efforts on organizational culture and employee engagement.
He encouraged organizations to look beyond demographics and focus on outcome metrics, such as cultural improvements and employee engagement.
“Look at the hiring data, the retention data, and the promotion data,” Paul said. “Look at the number of diverse employees across the organization, in particular leadership positions. Are you able to calculate the percentage of diverse employees in leadership positions? How are you moving the needle on that?”
He added that it’s important to measure these outcomes because they help in recruiting diverse talent. But more notably, it shows people in your organization your commitment to DEI initiatives and career opportunities, which are key for retention strategies.
“Are you able to calculate the percentage of diverse employees in leadership positions? How are you moving the needle on that?”
Paul Hamilton, Former Director of Talent Acquisition at LCBO and DEI Board Alumnus
Paul also suggested analyzing incident reports to identify any diversity-related issues or root causes within your workplace.
“Oftentimes, incidents that are taking place in a workplace can be diverse or racially motivated and have an impact on diversity, equity inclusion,” Paul said. “Look at the incident reports because that often can share valuable information and data that could identify issues or symptoms in your organization. It helps identify what the root cause of that problem is.”
He emphasized the crucial role of training, particularly for executives and managers, to ensure they conduct bias-free interviews and foster an inclusive environment.
5. Embrace Transparency and Authenticity
Our members also shared that organizations must emphasize the importance of transparency in addressing gaps in DEI initiatives.
“Transparency and authenticity helps you to establish credibility with those that you’re trying to recruit.”
Paul Hamilton, Former Director of Talent Acquisition at LCBO and DEI Board Alumnus
Paul noted that authenticity builds credibility with employees and external stakeholders, demonstrating a genuine commitment to fostering an inclusive workplace culture.
“Don’t be afraid to call out where you fall short,” Paul said. “Because that transparency and authenticity helps you to establish credibility with those that you’re trying to recruit.”
Kim added how using data and input from internal talent enhances your authenticity for investing in diverse employees’ career opportunities.
“It’s important to not just collect the data to see how we’re doing, but to go back and report where you are lacking and talk about ways to get input from the talent,” Kim said. “You must ensure you get their honest feedback, and utilize their feedback to make a difference. Because otherwise, it seems inauthentic.”
6. Learn More Actionable Insights from Your Peers
Utilizing data-driven approaches, gathering continuous feedback, and embracing transparency and authenticity are key principles for enhancing DEI-focused retention efforts within organizations.
By setting clear DEI goals, tracking metrics, and prioritizing employee experiences, companies can improve retention strategies and create a more inclusive workplace culture.
But if you’re still navigating the complexities of employee retention strategies, you can gain more insights from your peers in the DEI Board where our members meet weekly to confidentially benchmark their top strategies.
Learn how a membership in our community can help you move the needle in improving your company culture.
