Beyond the pipeline: Breaking barriers to accessing diverse talent pools

Beyond the pipeline: Breaking barriers to accessing diverse talent pools

Beyond the pipeline: Breaking barriers to accessing diverse talent pools

For More Expert Insights

Anu Dsouza

Anu Dsouza

Director, Bricoleur Consulting

Many organizations are finally realizing the importance of diversity in the workplace. Diverse talent offers new viewpoints, encourages innovation, and nurtures a culture of inclusivity in the workplace. However, the task of drawing in and retaining diverse talent comes with its own set of difficulties.

Bricoleur Consulting leverages an insight-led approach to digital leader recruitment, guaranteeing that we connect with a broad spectrum of candidates which in turn can lead to a truly diverse candidate pool for client companies to select from.

Understanding the Importance of Diverse Talent

Diverse talent includes people from different backgrounds, such as various genders, ethnicities, cultures, and experiences. By incorporating diverse talent into their teams, companies can access a wider array of ideas and solutions, ultimately boosting their competitiveness and flexibility. Research consistently demonstrates that companies with diverse staff are more likely to surpass their competitors in terms of profitability and productivity.

 

Did you know that companies with diverse executive teams are 21% more likely to outperform their industry peers, for profitability? That a 10% increase in ethnic and racial diversity has been shown to lead to a 0.8% increase in EBIT (Earnings Before Interest and Taxes). So there’s a clear correlation between diversity and financial performance of a company.

Then there’s innovation. A BCG study of more than 1,700 companies around the world shows that diversity increases the capacity for innovation by expanding the range of a company’s ideas and options, leading to better financial performance. And the BCG Henderson Institute recently demonstrated that gender diversity, for example, not only correlates with but is predictive of future growth. In fact, diverse teams generate 45% more revenue from new products and services. An inclusive culture, where there is psychological safety and where individuals can bring their whole selves also nurtures innovation.

Diversity also helps build business resilience, the capacity to survive unexpected circumstances. When a company can deploy a range of perspectives and ideas, it not only can hedge against the risk of group think but also make more effective and well considered decisions, thereby developing more ways to hedge against the unexpected.

“Did you know that companies with diverse executive teams are 21% more likely to outperform their industry peers, for profitability?”

Challenges in Accessing Diverse Talent Pools

Although numerous companies acknowledge the clear advantages, many encounter difficulties in accessing diverse talent pools. Common obstacles include: –

  1. Unconscious Bias: Hiring managers frequently harbour unconscious biases that influence their judgments, resulting in a preference for candidates with similar backgrounds and experiences.

  2. Limited Networks: Traditional recruitment approaches often depend on established networks, which may lack diversity and overlook potential candidates from different backgrounds.

  3. Inadequate Outreach: Companies might fail to effectively engage with underrepresented groups or lack knowledge of where to locate them.

  4. Retention Challenges: Even after hiring diverse talent, organizations may face obstacles in establishing an inclusive environment that fosters their long-term retention and development.

 

Bricoleur’s Insight-Led Approach

Bricoleur Consulting notices these challenges and has created strategies to address them. Our AI (our AI is called iCEO) plus high-touch and very customised approach ensures that we start with the widest talent pool shortlisted by the AI from multiple data sets. We often combine this shortlist with referrals from well-respected industry sources before we assess talent using our proprietary insight-driven qualitative approach. Our proprietary process focuses on the following aspects irrespective of race, gender or age which makes it more likely that talent pools representative of the actual population actually get identified and presented by the Bricoleur Consulting team. It’s the reason why almost half of our placements have been women, many in leadership roles:

·      Transformational Thinking Focus: Our recruitment process centers around identifying talent with the strategic thinking, problem solving and accompanying digital, technology and data skills to drive transformational leadership. In fact, we have a strong track record of placing high-potential talent with many of the individuals placed by us now leading their APAC teams.

·      EQ and values led: We understand that leaders who inspire and motivate are essential for driving organizational success and as such our process will only put forward candidates we believe have the requisite emotional intelligence and values fit with the organisation.

·      Diverse Experiences – Research shows, and we strongly believe also that diverse experiences bring a robustness of decision-making and drive stronger business results. Our process is designed to identify the best person for a job irrespective of gender, age or geography. As a result almost half (42%)of our placements have been women, many in leadership roles.

·      Inclusive Job Descriptions and Marketing- Our team meticulously crafts job descriptions to be inclusive and appealing to diverse candidates. We avoid jargon and gendered language that might deter applicants from underrepresented groups. Additionally, our digital marketing campaigns are targeted to reach diverse audiences through platforms they frequently use, ensuring we attract a diverse applicant pool.

“…irrespective of race, gender or age which makes it more likely that talent pools representative of the actual population actually get identified and presented by the Bricoleur Consulting team. It’s the reason why almost half of our placements have been women, many in leadership roles”

Alignment Processes for Retention

Recruiting diverse talent is only the first step; retention is equally crucial. Employees who do not believe their workplace is committed to diversity and inclusion are three times more likely to leave than those who do, research has revealed, prompting calls for businesses to go beyond ‘one-size fits all’ strategies. At Bricoleur Consulting, we have developed specific alignment processes to ensure that once hired, all talent especially diverse talent, feels valued and included. This involves using a qualitative insight-led approach that initially starts with values and culture mapping for the organisation and ends with a capture of aspirations of the various parties involved. In fact we have seen a strong correlation between the application of the alignment processes and retention. As a company we insist on following these to ensure retention in order to maintain our enviable track record of 90% plus retention for all candidates placed by us since we started.

The Future of Diverse Talent Acquisition

The future of recruitment lies in the ability to adapt and innovate. As we move forward, Bricoleur Consulting remains committed to refining our strategies and leveraging the latest technologies to support diverse talent acquisition.

”As a company we insist on following these to ensure retention in order to maintain our enviable track record of 90% plus retention for all candidates placed by us since we started.”

Conclusion

Breaking barriers to accessing diverse talent pools is not just a moral imperative but a business necessity. At Bricoleur Consulting, our insight-led approach to digital leadership recruitment ensures that our clients can access and retain the best talent from diverse backgrounds. By continuously evolving our strategies and focusing on inclusion and retention, we help build stronger, more innovative, and more successful organizations. Embracing diverse talent can prove to be key to unlocking the full potential of any business, and we are proud to lead the way in this essential endeavour.

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