Addressing Diversity, Equity, Inclusion & Belonging

For hiring managers, the challenge to find new talent and retain existing team members can seem daunting. Heather Magaw, VP of People and Culture at Chadwick Martin Bailey (CMB), noted that DEI&B initiatives need to become not only a topic for today but part of a company’s strategy and DNA:

“We have embedded a DEI lens as the underpinning of our 2030 Strategic Vision. We are currently actioning a customized plan based on InclusionBoston, which was the outcome of our partnership with YWBoston. Moreover, to increase objectivity and enhance our DEI efforts in our hiring process, we have embarked on a year-long pilot leveraging Predictive Index in the recruiting process."

Wolf also commented:

“DEI & B is overdue in all workplaces. We are transparent about our desire to hire and mentor women, so they can become even more successful. Because we are a Strengths-based organization, belonging is inherent in all of our messages and actions. We celebrate unique strengths and use them to find successful collaboration opportunities.”

A focus on DEI&B is important to many candidates too. As one in-market female professional noted:

“I was interviewing for two interesting positions. In the first position, my interview panel included a mix of individuals from different career stages, different ethnicities and different genders. They asked thoughtful questions and, unprompted, shared ways in which the company supported and developed their interests and strengths and then share those with the broader organization. The other interview panel was 90% older white males. It was pretty formal and no one talked about DEI&B initiatives formally or informally. When I received offers from both firms, you can guess which I chose. I really liked both roles, but I couldn’t see a future with the second company.”

It’s hard to say when, if or how the hiring landscape will change. In the near term, companies need to take a hard look at their hiring and retention practices and ensure they’re updated to operate in the reality of today’s market.

Some companies interviewed noted they’re leveraging more contract or part-time resources. The decision to staff up this way obviously impacts longer term team sustainability as well as the overall employee experience. While it may address a short term need for labor and allow reprieve from hiring challenges, it limits longer term engagement and retention.

Companies that are able to pivot and offer enticing opportunities to new hires while also creating opportunities and environments conducive to developing and retaining talent will be the big winners. Without strategies that span both, companies will find themselves hard pressed to weather the broader changes the industry is undergoing.

Throughout 2022, the All Thing Insights team will be sharing content and events aimed at helping you navigate building teams, hiring and advancing your own career in this evolving market.