How DEI-driven hiring creates a better bottom line

President Biden’s diverse cabinet picks have signaled a new beginning for diverse representation at some of our country’s top leadership levels. Additionally, a handful of companies in corporate America have done the same in the past year, setting the bar higher for the rest of corporate DEI initiatives.

Related: 3 practices to sustain your DEI strategy in 2021

While DEI-driven hiring is top of mind for talent acquisition leaders, many are falling short of their DEI hiring goals. This is mainly driven by an inability to find access to diverse talent pools. Racially and ethnically diverse companies are 35% more likely to perform better, but talent acquisition teams struggle to engage with diverse job seekers in underrepresented communities. Fortunately, technology can help bridge the gaps.

Technology’s impact on DEI-driven recruiting

The workforce of the future is hybrid, and technology is breaking down barriers to enable more diverse recruiting. A recent survey conducted by Brazen found that 57% of respondents do not expect a full return to pre-pandemic office models in 2021. As a full return to office seems less and less likely this year, technology will continue to bridge the gaps created by a fully remote workforce, and in the process will break down regional barriers and offer career opportunities to more diverse job seekers and communities.

Virtual recruitment technologies, such as virtual career fairs and hiring events with vendor “booths,” video interviews, live video broadcasts and more, are helping remote and hybrid workforces become the norm and are allowing HR and talent acquisition teams to reach, engage with and hire more job seekers from various cities across the country, and world, with more diverse backgrounds.

The current state of the workforce has helped facilitate more diverse hiring as more companies use virtual technologies and enjoy the benefits of virtual recruiting, namely that recruitment initiatives are not limited by physical location. This breaks down barriers to diverse recruiting while broadening employers’ talent pools.

Diverse workforces are good for everyone

Diverse hiring, upskilling and flexible work schedules are not just good for employees, they’re good for the bottom line. Eighty-five percent of CEOs with diverse and inclusive cultures notice increased profits, and job seekers who feel engaged in their hiring and onboarding experience are more likely to stay at a company and add value.

Building trust and relationships comes naturally to most of us when we are in person, but as recruiting makes a major shift to virtual, recruitment and onboarding teams will need to find ways to ensure candidate experience remains a top priority. Part of the solution will be making sure recruiters focus on the basics, like timely follow-ups after phone screens, near-constant availability to answer questions, and properly setting expectations with candidates throughout the process.

The other part will be an investment in technology that creates an immersive candidate experience. Solutions such as virtual interviewing tools or recruiting chatbots likely won’t be enough to engage candidates and will leave too many holes in the process, increasing the chances that candidates slip through the cracks.

Prioritizing candidate experience in hiring & onboarding

More robust virtual recruiting tools like virtual career fair platforms that contain a suite of features such as pre-screening tools, video interviewing, and seamless follow-up features will likely be a more effective option for hiring and onboarding. Companies that offer remote-enablement technology and virtual recruitment tools that can integrate the online and offline aspects of communication and offer the best user experience are high in demand.

Now more than ever, in a fully remote and hybrid workforce, companies need to rely on collaboration tools to help employees feel engaged and like they’re getting the level of training and hands-on support needed to succeed in a new role. Quickly and easily being able to switch from text to video based-chat, automated follow up reminders and live broadcast features are allowing companies to make more meaningful touchpoints with job seekers and new hires, regardless of physical location.

Technology offers a real-time solution to improving DEI hiring initiatives by exploring different channels and verticals for recruiting that gives companies access to larger and more diverse talent pools. Companies today not only need the correct tools in place to effectively interview, hire and onboard top talent remotely, they also need to be transparent and outspoken with their DEI initiatives to attract and retain talent that will upskill and transform their organization for years to come. Sixty-seven percent of candidates seek out diverse companies, and these companies enjoy the benefits, as inclusive companies are 120% more likely to hit financial goals.

The workforce has transformed over the last year, and there has never been a better time in history to break down barriers to diverse recruiting leveraging technology.

Ryan Healy is founder and president of Brazen.

Read more: 

• Growing demand for training in virtual teamwork, diversity
• How to develop meaningful workplace diversity: Start at the top
• Diversity and inclusion: Moving from saying to doing