Diversity Job Board Benefits
Today, we discuss diversity job board benefits.
If you are a job seeker, an employee, or CEO, by now, you’re likely familiar with the myriad of benefits of a diverse workplace. Countless studies show that diverse groups drive innovation, ideas, and business growth.
Take the following indices for example:
- Racially diverse companies outperform industry norms by 35%.
- Companies with the highest levels of racial diversity earn 15 times more sales revenue than companies with lower levels of racial diversity.
- Racial diversity is a better determinant of sales revenue and customer numbers than factors such as a company’s size and age.
- Every 1% increase in racial diversity leads to an approximate 9% increase in sales revenues.
- 83% of millennials report higher levels of engagement when they believed their company fosters an inclusive culture.
- 70% of employees say they would consider looking for a new job if their employer didn’t demonstrate a commitment to diversity.
- A 2019 study found that employees who were satisfied with their employment and intended to remain at their place of employment, worked within organizations that had: a positive reputation around diversity and inclusion; moderated forums for conversations about race; a CEO/President was committed to diversity and inclusion.
Diversity job boards are a powerful and unfortunately often under utilized tool that can tap into diversity talent and enhance D&I goals.
Diversity Job Boards Reach Both Active & Passive Candidates
Diversity job boards are a great tool for reaching both active and passive job candidates.
According to HR Magazine, although diversity job boards tend to have smaller volume than larger boards, diversity job boards attract a “substantially higher concentration of qualified diversity job seekers than generalist job boards because it allows potential candidates to address their primary concern – competing for jobs where they believe they have a fair chance of being hired and accepted regardless of the their sexual preference, age, religion, race, disability and gender.”
Regarding passive candidates, outreach from diversity job boards tend to include targeting passive candidates. Like active candidates, passive candidates are more likely to apply for jobs where they believe they have a fair chance of being hired.
Further, by posting job openings on job boards, hiring organizations are more likely to woo passive diversity candidates, who will view said organizations favorably.
Diversity Job Boards Provide Cost Effective Platforms That Help Marginalized Groups
Diversity job boards typically allow employers to post job ads at more cost effective rates than would be possible on generalist platforms. This cost saving allows organizations to post their openings on numerous boards, thus, increasing exposure of the job opening, and the chances of reaching quality job applicants.
But cost efficiency it isn’t solely about savings in up front costs.
Instead, it’s about future benefits from diversity efforts, some of which are outlined in the indices noted during the beginning of this article.
Do you have job openings? If so, contact us, we’ll happily discuss your organizational needs, and how we can post your openings for free!