Why Diversity in The Workforce Fuels Growth

At a young age, we all embraced an unlikely iconic duo of a bird and a snuffleupagus without questioning their collaboration. Elmo’s age and species are up for debate, but his contribution to our emotional development as human beings would be hard to dispute. We idolized an entire street of monsters and grouches and adults and kids that lived in harmony, and maybe some of us begged our parents to move there.

When you peek your head up from your cubicle/out your office door (now that we’ve all (allegedly) grown up)—what cast of characters do you see? Do you a heterogeneous mix of backgrounds, races, ages, and monsters? Or is everybody just like you?

The trend of hiring people who are a good “cultural fit” gave us a bunch of people who were exactly like us, who liked the same things, and knew the same things, and believed the same things. If we all agree, where is the room for growth in the organization?

Replacing employees is expensive.  The 2017 retention report says that it costs about $15,000 to replace an employee making $45,000.

To save on high costs, energy and resources, your team needs a talent pipeline.

A talent pipeline is a group of professionals who are ready to fill future positions that your company will need. It requires the act of switching from passive recruitment to active recruitment. Meaning, instead of waiting until an employee gives their two weeks, you are consistently in the recruitment process.

Talent pipelines are important to have in place to fill hard-to-replace positions like upper management or jobs, like sales, that have high turnover rates.

You can start by steadily planning the future structure of the company and building a network of professional relationships. Be strategic and follow these 5 talent pipeline recommendations.

When hiring a new employee, there’s always the risk that they aren’t as good of a fit as you thought. Someone confident and charming who seems great on paper might not actually have applicable skills they need for the position.

Someone’s ability to successfully complete an interview may not reflect their ability to do their job. A successful interviewee might just be more personable or do better under pressure. That’s great for sales or customer facing jobs, but probably doesn’t apply to how well someone can do in a technical or creative position.

If you want to hire someone who is actually good for the job, you need to ask the right questions. Take into consideration these interviewing techniques to find someone who will be a good fit beyond the interview.