by Dr. John Sullivan
Originally published: May 24, 2017
Most firms have no idea that they have a revolving door that is bleeding diversity talent, because unexplainably, they don’t measure and report diversity turnover and the cost. But what if your executives knew that diversity turnover was off the chart, especially in tech where workers, and especially women, black and Latino tech workers were more likely to quit because of unfairness or mistreatment
And your executives would be even more concerned if they knew that high diversity turnover rates were costing a large corporation tens of millions of dollars each year. As a result of this continuous talent drain, it really shouldn’t be such a surprise when your firm consistently fails to meet its diversity goals. After successful diversity recruiting at your firm, HR for some reason left out diversity retention, the critical follow-up program.
I call this loss the “diversity revolving door.” This is the same phenomena that occur when you’re filling a glass, because you’ll never succeed if there is a hole toward the bottom that results in much of the liquid pouring out. And that’s exactly what’s happening with most diversity recruiting programs. You spend tons of money and management time to bring in diversity recruits only to have them leave because there was no formal proactive and targeted effort to retain them.