Over the past several months, I have proffered 15 tips you can use to create inclusive organizational environments. To summarize and for easy reference, I have listed these tips below with a hyperlink to each blog post:
Next Post: February 24, 2014 – The 3 Barriers to Effective Multicultural Communication
Hit rate tells you how effective you are at marketing your organization to potential candidates. It does so by comparing the number of job offers accepted by candidates to the number of offers extended by your organization. Here is a formula you can use to determine hit rate:
Diversity hire percentage is a very simple, yet useful metric that tells you how effective you are at hiring diverse candidates from your selection pools. As a general rule of thumb, if your diversity hire percentage is equal to or higher than your candidate pool diversity percentage, you are doing a good job. If it is lower, then you are either not recruiting high quality, diverse candidates or there is bias in your selection process. Here is a formula you can use to determine diversity hire percentage:
In my last post, I introduced cost-per-hire, which tells you how much it costs for each person you bring into your organization. Cost-per-diverse hire tells you how much it costs for each diverse employee hired (e.g., women, the physically challenged, African Americans, Latinos, Asian Americans and Native Americans). It allows you to compare hiring costs between different employee demographics and categories. Most significantly, it tells you how effective you are at hiring diverse candidates per dollar unit of cost (i.e., whether you are using recruitment sources/techniques that are financially successful). Here is a simple formula you can use to determine cost-per-diverse hire:
Actively work to recruit a high quality, culturally diverse workforce. This can create a significant competitive advantage for your organization. As a consultant, I have seen many organizations improve their performance and their ability to serve a diverse customer base by proactively focusing on the creation of high quality, culturally diverse candidate pools for their positions. By “enlarging the net” you use to recruit top candidates, and by improving the climate for diversity, you can significantly improve business performance.
Next Post: September 23, 2013 – Creating a Climate for Diversity: Tip #5
Dr. Tyrone A. Holmes is an author, speaker, coach and consultant. He helps his clients develop the skills needed to communicate, resolve conflict, solve problems and improve performance in diverse organizational settings.