As we look ahead to the new year, career experts and recruiting professionals make predictions on trends for 2018. In addition to the increasing trend of hiring informed candidates, new data suggests that diversity initiatives will be prioritized within both U.S. and U.K. companies.
According to new data from Glassdoor, one in three (35 percent) hiring decision makers expect to increase investment in diversity and inclusion efforts. The report, conducted among 750 hiring decision makers (those in recruitment, HR and responsible for hiring) in the U.S. and UK, also finds that job candidate demographics are one of the most important recruiting metrics to hiring decision makers.
“Driving toward greater diversity in the workplace is a high priority effort for many businesses,” said Carmel Galvin, chief human resources officer of Glassdoor. “With increased investment in diversity and inclusion programs, it signals that employers are recognizing the value these efforts are having on recruiting and on financial performance.”
This latest report follows years of many companies, especially in the tech sector, being criticized for their lack of diversity in the workplace. However, the unique difference now is that businesses and those in recruitment have quantitative data revealing the lack of investment in diversity and inclusion is a barrier in attracting and hiring quality candidates.
Nearly three in five (59 percent) hiring decision makers report that this diversity shortcoming has presented a significant hiring challenge. Furthermore, Glassdoor’s report revealed that candidate demographics are more important than recruiting data points like: how long it takes to fill a role; how long it takes to deliver a job offer; and the success a company has in converting job seekers to applicants, and applicants to hires.
“In today’s era of the informed candidate, job seekers are hungry for as much information about a company as possible before they take a job. Job seekers want insights into what businesses are doing to build a workforce that is diverse in all aspects of the word be it age, gender, ethnicity or thought,” added Galvin.
The 2018 trend towards diversity and inclusion investments presents an opportunity for employers to highlight their diversity and show job seekers their true values. Plus, the investment will benefit the organization ultimately. 52 percent of respondents also say that achieving success in the realms of diversity inclusion will improve the quality of hires. Better hires make for a better business.
Guess we know one new year’s resolution employers will make. And we look forward to the renewed focus on diversity and inclusion in the US and U.K.