How to retain diverse talent: 14 Effective Strategies [2024 Edition]

How to Retain Diverse Talent: A Comprehensive Guide 

All organizations know that growth and development are essential driver for long-term employee happiness and job satisfaction. When employees know that their organization is committed to their future growth, they’re more likely to give their best each day. Critically, they’re more likely to stay with you for the long haul. 

But when it comes to career development, the structural and systemic discrimination embedded in our society has meant that folks from marginalized groups don’t get the same opportunities as White people: 

• Women consistently make 16% less than men on average, with Black and Latina women worst affected. 

• 2021 data found that Black men without a university education earn about half the salary of White men. 

• A 2019 study found that workers with ADHD generally earn less and are less likely to get jobs than neurotypical people. 

In this post, DEI consultant Daniela Herrera explains why marginalized employees experience a career progression gap, why this matters, and how your organization can create better growth opportunities for your underrepresented workforce. 

14 Strategies for Retaining Diverse Talent 

Retaining diverse talent requires building an inclusive workplace. Focus on creating a sense of belonging through inclusive hiring practices, ongoing development opportunities, and fostering a supportive company culture. Prioritize open communication, mentorship, and employee recognition to empower diverse employees and reduce turnover. 

Here we have cumulated 14 effective strategies that can help you retain diverse talent - 

1. Assess Your Current DE&I Status

Before implementing new strategies, it's crucial to understand where your organization stands regarding Diversity, Equity, and Inclusion (DE&I). Collect and analyze data on your current workforce demographics, employee engagement, and satisfaction levels. This assessment will help identify gaps and areas for improvement. 

As Daniela Herrera, points out: 

"Simply put, the systems and processes meant to elevate and nurture talent growth are inherently embedded with biases, stereotypes, and inequitable practices. For underrepresented talent, unfortunately, looking for a new role might be the only way to advance in their careers and their financial security journey. Companies [will] eventually face a larger retention issue which also negatively impacts their employer brand, their ability to attract new talent and clients, the overall sense of belonging and company culture, and consequently, their business and revenue." 

2. Implement Inclusive Hiring Practices

To build a diverse workforce, start with inclusive hiring practices. Use inclusive job descriptions, conduct blind resume screenings, and employ skills tests to minimize biases. Ensure your hiring panels are diverse to reflect the inclusive culture you aim to build. 

As Daniela Herrera, points out: 

"Talent from historically excluded groups face barriers at every single step of their candidate and employee experience, [including everything] from not having access to the same networking and referral opportunities, to job descriptions written for those who already understand the jargon and industry language, and company pages and application forms accessible to only those who are neurotypical and body-abled." 

Even though there's more to hiring diverse talent, for now, you can jot down this as something to look into in a detailed manner. 

3. Create an Inclusive Onboarding Process

The onboarding process is the first impression new hires have of your organization. Make it count by emphasizing your commitment to diversity and inclusion. Include value-centric introductions, organize social events, and establish mentorship programs. Connecting new hires with leadership can also help them feel valued and integrated from the start. 

Daniela suggests: 

"Build better, more comprehensive, and more intentional onboarding processes that not only elevate talent but also nurture and lift them up as they grow and learn more about your organization and industry." 

Some tips for inclusive onboarding include: 

• Make sure all communication with a new hire before the first day is inclusive. 

• Include details like where to go, what to wear, what time to show up, or share a first-day schedule so your employee feels comfortable. 

• Where possible, try to avoid speaking in team jargon, acronyms or specific terminology without providing a context for what they mean. 

• Create regular check-ins to help new hires settle in, and ask if there's any extra support they need. 

• Make sure that onboarding events, including Friday drinks or evenings out, feel inclusive to everyone attending. 

4. Conduct Bias-Free Performance Reviews

Ensure that your performance review process is fair and free of biases. Implement structured talent reviews to provide equal opportunities for all employees. Use data-driven approaches to assess performance and promotions, making sure everyone is evaluated on merit. 

Daniela highlights the importance of this: 

"Research has shown, for example, that during performance review cycles, women --- especially women of colour --- receive feedback based on their attitude and personality instead of their work, skills, goals, and accomplishments. We also know that [feedback for] Black, Latine, and employees over 40 tends to be less actionable than the feedback their white colleagues receive." 

5. Train Leaders in Inclusive Practices

Inclusive leadership is vital for retaining diverse talent. Train your managers and leaders in DE&I principles, emphasizing the importance of an inclusive work environment. Diverse leadership can set the tone for the entire organization, promoting a culture of respect and inclusion. 

6. Foster a Sense of Belonging

Employees who feel a sense of belonging are more likely to stay with your organization. Create a psychologically safe environment where everyone can express their ideas without fear of judgment. Encourage collaboration and celebrate the unique contributions of all team members. 

7. Regular Recognition and Meaningful Rewards

Recognize and reward employees regularly. Ensure that recognition is meaningful and personalized, catering to the diverse needs and preferences of your workforce. This not only fosters a sense of belonging but also motivates employees to stay engaged and committed. 

8. Expand Your Holiday Calendar

An inclusive holiday calendar that acknowledges diverse cultural and religious observances shows respect for all employees' backgrounds. This simple step can make a significant difference in how valued your employees feel. 

9. Offer Strategic Benefits

Offer benefits that address the specific needs of a diverse workforce. This might include parental leave, flexible work arrangements, wellness programs, and support for professional development. Tailoring benefits to meet diverse needs shows your commitment to supporting all employees. 

10. Accountability Through Data and Transparency

Hold your organization accountable for DE&I goals by using data and maintaining transparency. Regularly report on your progress towards these goals and be open about areas where improvement is needed. This builds trust and demonstrates a genuine commitment to diversity and inclusion. 

11. Support Employee Resource Groups (ERGs)

ERGs can provide a support network and foster a sense of community among diverse employees. Encourage the formation and active participation in ERGs. These groups can also provide valuable insights into the needs and challenges faced by different employee demographics. 

12. Encourage Authenticity at Work

Allow employees to bring their authentic selves to work. An environment where everyone feels they can be themselves enhances inclusion and retention. Encourage openness and authenticity in all aspects of your organizational culture. 

13. Set Strategic DE&I Goals

Establish and prioritize strategic DE&I goals. These goals should be specific, measurable, and aligned with your overall business objectives. Regularly review and adjust these goals to ensure continuous improvement in your DE&I efforts. 

14. Prioritize Career Development for Underrepresented Employees

As the existing article points out: 

"All organizations know that growth and development are an essential driver for long-term employee happiness and job satisfaction. When employees know that their organization is committed to their future growth, they're more likely to give their best each day. Critically, they're more likely to stay with you for the long haul." 

However, it's important to recognize that: 

"When it comes to career development, the structural and systemic discrimination embedded in our society has meant that folks from marginalized groups don't get the same opportunities as White people." 

To address this, implement talent processes that proactively support underrepresented employees: 

• Mentoring and reverse mentoring: Build supportive networks and encourage knowledge and experience sharing across your organization. 

• Enable cross-functional and cross-departmental learning: Support lateral career development for underrepresented employees. 

• Prioritize upskilling and reskilling: Ensure skills stay sharp while prioritizing continuous growth and career development, particularly for older employees. 

Conclusion 

Retaining diverse talent requires integrating DE&I into every aspect of the employee lifecycle. By creating a truly inclusive workplace, you ensure diverse talent feels valued, supported, and motivated to stay. Implement these strategies to build a diverse, thriving workforce. To further support your DE&I efforts, consider leveraging inclusive communication tools. 

Develop Diverse is an inclusive communication platform that assists you in writing and communicating in an inclusive manner by detecting biased words. 

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