Diversity, equity and inclusion (DEI) are both good for society and good for business; and it all starts with innovative hiring practices.
Organizations focused on diversity, equity, and inclusion are more successful in regards to employee engagement, employee retention, and overall financial performance. One McKinsey study found that companies in the highest quartile for racial diversity in leadership were 36% more likely to have above-average financial returns. Additionally, the more diverse a company is, the more its innovation soars.
Let’s jump in to see how cutting-edge hiring technology can take your DEI efforts to the next level.
When it comes to job listing response rates, those with gender-neutral wording get 42% more responses.
Sentiment analysis software has the ability to analyze copy and determine potential biases at play. AI-driven, tools such as MonkeyLearn, Lexalytics, and Brandwatch are programmed to deliver detailed analyses of copy that could be misconstrued based on gender, race, or even sexual orientation.
For example, if your job description includes gendered keywords such as “support,” “understand,” or “affectionate,” your listing is unconsciously attracting more female candidates. In contrast, if the description includes words such as “aggressive” or “ambitious,” your job posting is unconsciously attracting more males. However, by using technology to proactively minimize these biases, companies are able to not only avoid discrimination lawsuits, but also better recruit competitive, diverse talent.
Historically, some job seekers have had concerns about the use of assessments and AI in the hiring process - and rightfully so. However, instead of magnifying bias in hiring, modern AI technology actually minimizes it.
HireVue’s data scientists, for example, work alongside a team of industrial-organizational psychologists to ensure valid, bias-mitigated assessments that help to enhance human decision making while promoting diversity and equal opportunity. HireVue’s ethical AI technology is committed to benefitting society, promoting diversity and fairness, and continually validating and testing.
How so? HireVue assessments monitor interview data that are proven to be predictive of job success and performance - and nothing more. While unstructured interviews are riddled with unconscious biases, structured video interviews focus only on the traits and hard skills that will make someone a great match for an open position.
Likewise, video interviews make it easier and more cost-effective to source a higher volume of qualified candidates from diverse backgrounds. By implementing on-demand video interviews, talented candidates from across the globe can opt into the process. In one such case, Intel introduced video interviews and concurrently experienced new hires from underrepresented groups increase from 31.9% to 45.1%.
One specific way in which HireVue technology reaches more diverse candidates is by offering video interviews in 30+ languages, making it easy for candidates to thrive during the hiring process, no matter their language of origin. As more and more members of the workforce continue to work remotely into 2021 and beyond, the organizations that cast the widest net will competitively attract the best ones.
One of the best ways to promote diversity within the hiring process is to ensure there’s a diverse group of people making the hiring decisions.
By facilitating multiple interactions with ease, HireVue technology empowers hiring managers to quickly review and assess top candidates, and share notes with other company leaders. The system of continual shared feedback then automatically documents the reasoning behind each decision, promoting both compliance and enhanced DEI efforts.
To thrive in the future of work, start with innovating your hiring technologies. Check out HireVue to get started today.