This 1 Workplace Change Could Be the Key to Outperforming Competitors [Confessions of an Industry Millennial]

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Across the country, we're witnessing history. States are in an ongoing battle against a global pandemic, and now protests are being held across the country in a call for racial equality. The movement has exposed a discussion that hits close to home for industrial businesses: diversity. 

We've seen throughout history that manufacturing has an incredible ability to adapt to the challenges of the world around us, even pulling us out of the worst depression the U.S. has ever seen, and current events are continuing to support that ingenuity. According to a 2018 study by PricewaterhouseCoopers and The Manufacturing Institute, U.S. manufacturers are on a strong upward trajectory toward expanding diversity and inclusion (D&I) across industry; It appears that the industrial skills gap has given industrial businesses the opportunity to open their doors to increasingly diverse hiring. 

However, just because substantial, positive progress is being made doesn't mean there isn't more work to be done. Change occurs over time, and there's no better time than the present to begin your industrial business' journey toward diversity. 

The Benefits of Hiring Diverse Industrial Talent

Hiring for a more diverse workforce has endless benefits; Glassdoor reported in a survey that 67% of people say a diverse workforce is an important factor when looking for a job. With that in mind, showing your employees that diversity is a priority in their workplace could have an incredible effect on company culture; It conveys to your employers that you value their opinions, no matter their race, religious background, gender, or gender identity.

D&I also encourages an open dialogue among peers and superiors, which will ultimately lead to smoother operations and improved teamwide collaboration. 

Along with the internal benefits of diverse hiring, the effects of D&I at your company will trickle down to external performance as well. In a report published by Harvard Business Review, research results indicated that cognitively diverse teams solve problems faster than teams of cognitively similar people. Here are just a few of the impacts of diversity hiring, by the numbers:

• Employees at an organization that supports D&I report that they feel their ability to innovate increase by 83%
• Diverse teams reportedly benefit from a 60% improvement in decision-making
• Companies with inclusive talent recruitment generate up to 30% higher revenue per employee
• Companies with gender diversity are 15% more likely to outperform their competitors
• Cmpanies with ethnic diversity are 35% more likely to outperform their competitors

Diversifying Not Just Talent, But Executive Talent

If you're going to take the strides to diversify your company, why not start at the top? If you have an opening at the executive level, explore the opportunity to make that hire a minority. Executives are the most visible members of your business, and there's no doubt the effects will trickle down. I spoke to a coworker about diversity in upper management, and she highlighted the point clearly. 

"When I see people of color in a higher position at a company," she said, "I feel like I'm represented by someone in a position of power and I too have the opportunity to succeed as a person of color."

How to Start Diversifying Your Workforce

While initiating diversity in your business can feel like a daunting task, today's resources make recruiting for inclusion easier than ever. Instead of using the usual channels for recruitment like LinkedIn or Indeed, try one of these job boards for diversity hiring. 

Professional Diversity Network

Professional Diversity Network is recognized as "America's #1 diversity recruitment platform." Women in Technology, Ability Beyond, Hire Veterans, and Tech Latino are just a few of the 50+ career sites the network collaborates with to match employers with qualified diverse candidates.

Diversity.com

Diversity.com has actually existed for nearly 20 years, giving companies an easy opportunity to find the right Black and minority talent for their openings at all levels. They even have employer brand profile building services to tweak your job ads so you can attract the perfect fit for your open positions. 

Black Career Network

Hosted by The Professional Diversity Network, this site is great for finding engaged employees from the Black community. Black Career Network allows employers to post jobs, host recruiting events on a convenient calendar, and attend diversity events. 

Image Credit: WAYHOME studio / Shutterstock