Over 86 percent of today’s job seekers prioritize working for companies that value diversity in hiring, according to a recent survey from ZipRecruiter. This is especially true among millennials and Generation X, the two generations that make up the largest percentage of today’s workforce.
Building a diverse workforce isn’t just about appealing to job seekers or doing what’s right, though. It’s also about the bottom line. Research has found that diverse companies are 1.7 times more innovative and experience as much as a 15 percent boost in revenue. For every 1 percent increase in a company’s employment diversity, there is a rise in sales of 3 to 9 percent.
Having a diverse workforce can attract top talent, improve company morale, and lead to greater profits overall.
Still, increasing diversity in hiring doesn’t come easy for all companies. Even LinkedIn’s own diversity report shows that the company with access to over 400 million resumes is woefully behind in diversity hiring.
There are a lot of reasons a company may struggle with this, form a lack of diversity in leadership positions to a fear of change, according to Glassdoor. Cultural norms can come into play in the way women present their resumes as opposed to men, with fewer keywords overall. There’s also the fact that most recruiters are overwhelmed with applications from unqualified candidates. By the time they weed that list down to only those with the skills to do the job, they’re tired and prone to choosing candidates they relate to on a personal level. The role of unconscious biases and affinity bias shouldn’t be ignored, as research has found it seeps into hiring in fairly subtle ways.
U.S. corporate culture has been talking about improving diversity in hiring for the last 50 years, but we still have a long way to go. Download our whitepaper Instantly Triple Talent Pool Diversity with Talent Intelligence to learn actionable strategies and best practices for increasing diversity, as well as a deep dive into the latest research on how diversity increases profitability, innovation, and average tenure length.
That’s exactly what we work to eliminate at Censia. Our talent intelligence platform was designed to eliminate bias and reveal the best candidates for their skills and merit. In most cases, doing so has instantly tripled the candidate talent pool diversity for that role. And best of all, it does so while reducing recruiting time by up to 85%.
Here are the key ways that Talent Intelligence Improves Talent Pool Diversity
Complete Talent Profiles
The talent profiles you’ll find through Censia provide more information than you’ll ever find on a traditional resume. We help you identify patterns and develop analytics that give you a full picture of what your candidates can bring to the table. Our profiles provide everything you could hope for, without candidate photos—because there’s no good reason first impressions should be based on a candidate’s outward appearance.
Ideal Candidate Modeling
Through AI and Predictive Modeling, we scan thousands of potential employees to help you find exactly the candidate you’re looking for. We can even clone your top performers in seconds to help you identify candidates with similar work profiles.
Intelligent Passive Sourcing
If hiring managers worked only off the candidates that actively came to them, they’d constantly be faced with a lackluster hiring pool. But passive sourcing allows you to throw out a wider net and find the candidates that are truly the best fit for your job.
ATS Candidate Rediscovery
What if the right candidate for your current opening applied with you years ago? Censia can help you figure that out by pulling data from your ATS system and identifying any matches that may have what you’re looking for today.
Internal Mobility Matching
Perhaps the person you’re looking for is already within your workforce. Censia doesn’t just find and rank external candidates, we also help you identify the people already working for you who could be a good fit for moving up.
Instant Candidate Ranking
Because we prioritize diversity, we provide you with an already ranked list of potential candidates who have been ordered based on the factors that actually matter—work history, seniority, location, and skills. This takes the guesswork out of hiring for you and reduces the potential for unconscious biases getting in the way.
Let Censia help you meet your diversity hiring goals by utilizing neural network technology to identify the candidates who truly bring what you’re looking for to the table.