Hiring diverse talent isn’t enough—create a Talent Brand Strategy

Constangy, Brooks, Smith & Prophete, LLP
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Constangy, Brooks, Smith & Prophete, LLP

Building a diverse workforce has become a key business strategy, especially in today’s fast-paced, global marketplace. But, making profound shifts in the makeup of a workforce cannot be achieved overnight. There is also no one-size-fits-all approach to achieving a diverse workplace, but one key strategy is to examine how your current workforce feels. Yes, feels. Marketing is about how a product or service makes you feel. And, your employees are your best marketing tool. 

Growing up, my late mother would always to say to me –“Punam, it doesn’t matter what you say to the people around you, what they will remember is what you do, and how that made them feel!” Words I try to live by even today. 

And, now this is my number one advice to my clients.   

When it comes to diversity and equity, it really doesn’t matter what an employer says either in their handbook, on their website, or as part of their mission statement—what matters most is what they do. And, what they do will either make their employees feel good or bad or worst of all, nothing. And, that is what they will remember and tell the world. 

The data show that when an employer does this right, it provides tangible and strategic benefits such as allowing the business to expand into new markets, cultivate new avenues of doing business, attract better talent or clients, and achieve higher profitability. Therefore, diversity programs must be a part of your brand and embedded into every aspect of the company’s vision, strategy, and most importantly experience. 

I started to think about this when I recently read a consumer survey in connection to brands and social justice or diversity programs. It reported that 50% of those surveyed believe brands should publicly speak out against racial injustice and systemic racism and brands that are perceived (code for making you feel) as addressing racial issues well are three times more trusted than those that aren’t.  

This notion is re-affirmed in the 2020 study published by McKinsey, “Diversity wins: How inclusion matters.” That study also concluded that companies that adopt systematic, business-led approaches to diversity and inclusion along with bold action on inclusion reflected a wider increase in not only profitability to their counterparts, but a higher retention rate of their employees and a better overall employee experience.  

Look I know, it is challenging to create a workplace that is led by inclusive leadership and accountability among management as well as openness and freedom from bias and discrimination. It is hard to cultivate this. But it is also imperative in today’s socially conscious, globally driven world. Your employees are your number one asset, and also your best tool to achieve this. They not only work hard to meet the mission of the organization, but they are your marketing ambassadors to the world at large. And, if you create a talent brand that allows your current employees to feel seen and heard, that not only will allow you to attract the best and brightest diverse candidates, but also retain them. And that is the key. If your employees feel like they belong, that directly translates better productivity and profitability. The data support this. It’s a win-win strategy.   

So let’s work together to create a talent brand that your employees, clients, and the community at large will remember! 

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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