Black and brown professionals find themselves back in the job market at a rate comparable to pre-COVID. Why? Over-hiring and under supporting.
Blind calls out how cheap money played a role, especially within the tech industry,
“Companies were hiring just to hire. COVID created temporary demand and money was cheap which created a ripple effect of companies needing staffing for low value projects. Everything was about 'growth.' ”
Companies like Starbucks, Intel and Accenture consistently drive and meet yearly diversity representation goals, also known as growth metrics. Other companies created roles for diverse hires and hired them within groups of ‘charity roles’, individuals with no real company impact, for the sake of attaining growth metrics.
As if tokenism isn’t enough.
67% believe diversity is crucial to ensure their workforce reflects the community they serve
Clearly companies and leaders understand the importance of a diverse presence within the workplace, from top to bottom, but they are missing an important component to retaining them: Support. Support is a key metric of engagement.
We have had the opportunity to discuss the employee integration experience and employee growth strategies with numerous Fortune ranked companies in Q1. Companies who are attaining their representation goals, are also failing to engage and retain the very groups that happen to be entry-level hires. We find that entry-level black and brown hires are left to define their roles, and purpose, within the organization as well as map out their own professional trajectory. Can’t stress enough how dangerous, and costly, it is to ignore the very talent that are eager to climb the ranks within your organization or become your competition, taking your clients with them.
77% of companies focus on employee experience to increase retention
It's true companies, large and small, made public bold statements in support of diverse hiring post George Floyd and such a moment had become a trend up until recent massive layoffs. We hope companies take note of the consequences we are left with when taking advantage of trends without proper planning and strategy leads to pre-trend dilemmas. HBGM&Co. can help your organization not only meet your growth representation goals, but strategize, uplift and retain. Don't over hire and under support. Let's discuss!
Creating Safer Spaces,