by Paolo Gaudiano and Ellen Hunt
Originally published: July 11, 2016
The topic of diversity in the workforce is finally gaining national attention, thanks in large part to the growing number of research studies that reveal its benefits to businesses: gaining access to a broader talent pool, increasing employee satisfaction, fueling innovation, improving customer loyalty, strengthening reputation and growing profitability.
The rising tide of enthusiasm has created a growing industry of firms promising to measure, analyze and increase diversity through a variety of tactical initiatives. Many of these firms focus on specific business functions, such as recruitment or retention. Others focus on employee behavior, for instance identifying and removing unconscious bias throughout the organization. Yet others focus on culture, either as a barometer of diversity, or as a potential instrument of change. In most cases, these firms design and execute their initiatives through a combination of prior experience, historical data, domain expertise and intuition.