The growing role of DEI programs in bridging the insurance talent gap
Attracting an inclusive pool of prospective job candidates begins with fostering a 'people-first' company culture.
In 2020, 77% of talent professionals reported that diversity would be a crucial factor in the future of recruiting. Enter 2022, and many organizations remain confused about how to effectively enact diversity, equity and inclusion (DEI) practices that engage prospective employees — and retain their current ones.
In the age of the “Great Resignation,” there’s no time to waste. To succeed in attracting diverse talent, company culture needs to be driven by a “people-first” approach. In my opinion, this means the business is diligent in examining how to best accommodate the basic needs of all employees.
Second, businesses need an impactful DEI strategy. And what do I mean by impactful? DEI practices need to connect DEI to meaningful elements of the overall employee experience (EX), like benefits and work-life balance.
Without this, companies will keep struggling to attract diverse talent, and current employees — knowing there are better opportunities out there — will head out the door. It is just as important to improve EX for current employees as it is to improve the experience for candidates.
To get started, organizations should ask themselves: What are we offering to support diverse needs? Have we built out clear DEI commitments, and do employees know how to get involved? Is leadership modeling these commitments to set the precedent for the rest of the team?
A people-first approach: EX that mirrors CX
A people-first approach to the workplace is critical to managing a vibrant and inclusive culture and improving overall EX. It’s best practice to model this from the top down. The executive leadership team needs to deliver on the promises of a people-first culture by demonstrating authenticity, empathy, and transparency in their work. This sets the stage for the rest of the team.
Organizations also need to be proactive in seeking regular feedback from their employees. Establishing quarterly engagement surveys, DEI office hours, and communication channels with “ask me anything” policies allow leadership and people teams to not just meet employee expectations, but exceed them.
Think about it this way: You wouldn’t implement a customer experience (CX) strategy that merely meets expectations. And you wouldn’t assume that customer needs and expectations will remain the same over time. You want your company to be at the forefront of these changing expectations and to stand out against the competition. This is the same approach businesses should apply to their employee offerings and their overall EX.
DEI is more than just a one and done effort
DEI is the root of people-first culture, so along with leadership actively participating in DEI education, this foundation needs to be felt across the entire organization. If DEI practices are not heard and not demonstrated on a regular basis — with opportunities for employees to engage in allyship and develop intercultural competence — your overall culture will suffer.
But we’re past defining the “why” of strong DEI practices. Companies need to determine the “how” by allocating the appropriate resources (human, financial, and technical) to make these improvements. And the work goes beyond setting up a DEI code of ethics.
Organizations should consider hiring dedicated DEI practitioners to work in collaboration with all areas of the business and all employees — from executive leadership to entry-level employees.
A DEI practitioner considers what the strategy will look like in a month, next quarter, and in the year’s head. They’re considering what work needs to be done to re-assess this strategy. And they ensure that DEI efforts have room for flexibility and that diverse voices are included as a part of change management.
Three steps to build an effective DEI strategy
First, bring in external DEI consultants to help remove any existing bias and ensure diverse perspectives have a seat at the table. While this is underway, build out an internal role and hire a DEI practitioner to join the team and provide feedback on your strategy.
Step two should align closely with step one: engaging the leadership team as the strategy is developing and providing a safe space for learning. Again, DEI commitments need a top-down approach to build trust among employees.
Once step one and two are underway, time to hone in on your DEI goals and commitments. Focus on what DEI means to your organization specifically — this will help to manage expectations and support lifelong learning.
Creating an Employee Resource Group (ERG) that encourages employees to participate in unique DEI events, workshops, and volunteering is a great place to start. Pay close attention to team feedback and use this to be more intentional about the scope of the work.
Embrace the need for change
What many businesses may not know is that people want to work at an organization that doesn’t pretend to be perfect. And communicating imperfection is important and necessary.
A people-first culture is about celebrating the diversity of the people. And as people enter and exit the workplace, the culture will change in some ways. You can’t assume that your first DEI strategy is going to be a winning approach and that all your employee problems have been solved. A happy and inclusive culture can become unhappy or divisive over time. It’s something that needs to be worked on every day.
The key to better EX and improving employee retention is embracing this change and continuing to re-evaluate what are the most important matters to the group.
In the end, your potential to attract diverse, top-tier candidates relies on enhancing the culture on the inside. And this has a direct effect on how your employees interact with your customers, and ultimately, how your business is perceived by the outside world. After all, your employees are the ambassadors for your brand.
Kareen Onyeaju is the DEI and People Operations lead at Ada. These opinions are the author’s own.
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