JUNE 13, 2023
DEIB Reduces Turnover
With DEIB being challenged, practitioners should be able to articulate the impact of this work on the bottom line.
Research has shown that DEIB programs can help to reduce turnover in the workplace. Here are a few examples.
A study published in the Harvard Business Review found that organizations that had strong DEIB programs had lower turnover rates than those that did not. The study found that organizations with a high level of diversity and inclusion had a turnover rate of 12.3%, compared to 19.8% for organizations with a low level of diversity and inclusion.
A report by the Kapor Center found that workplace culture was the main reason why employees from underrepresented groups left their jobs. The report found that employees who felt excluded or undervalued were more likely to leave their jobs. However, the report also found that organizations with strong DEIB programs were more likely to retain top talent from underrepresented groups.
A survey by Glassdoor found that 67% of job seekers said that a diverse workforce was an important factor when considering job offers. The survey also found that 57% of employees believed that their company should be doing more to increase diversity.
These studies suggest that DEIB programs can help to reduce turnover by creating a more inclusive and supportive workplace culture.
When employees feel like they belong and that their contributions are valued, they are more likely to stay with the organization, which can help organizations to retain top talent and reduce the costs associated with turnover.