ED&I, or Equality, Diversity and Inclusion, has had a significant impact on the recruitment of finance personnel. Here are some ways in which ED&I has impacted and benefitted the recruitment of finance personnel:
Increased diversity: ED&I initiatives have helped to increase the diversity of the candidate pool for finance positions. By actively seeking out candidates from diverse and underrepresented backgrounds, organisations are more likely to hire individuals who bring a variety of perspectives and experiences to the role. This can lead to more creative and innovative problem-solving and decision-making,also known as cognitive diversity.
Improved retention: When organisations prioritise ED&I, they create a more inclusive and welcoming environment for all employees. This can help to improve retention rates, as employees are more likely to feel valued and supported in their roles. One of the most common topics candidates are asking before being put forward for new opportunities is based around ED&I policies and what the organisation's environment looks like.
Enhanced reputation: Organisations that prioritise ED&I are often viewed more positively by both candidates and employees. This can help to enhance the organisation's reputation, which can make it easier to attract and retain top talent. Candidates are doing their research on company culture prior to being put forward for roles and are also assessing the company culture throughout their interview process which can be a deciding factor for candidates accepting a new role. Candidate experience is essential.
Increased access to talent:By actively ensuring that organisations are seeking out candidates from all backgrounds, organisations can tap into a wider pool of talent. This can help to ensure that organisations are hiring the best possible candidates for their vacancies.
Improved decision-making:When finance teams are diverse, they are more likely to consider a range of perspectives and opinions when making decisions. This can lead to better decision-making overall, as the team is less likely to be influenced by groupthink or unconscious biases.
Overall, ED&I initiatives have had an extremely positive impact on the recruitment of finance personnel. By prioritising diversity, organisations are more likely to attract and hire the best possible talent on the market for their roles, which can ultimately lead to better business outcomes/decisions.