Diversity and inclusion in hiring isn’t just the right thing to do; it’s also the smart thing.
Today’s highly competitive labor market means that organizations need to cast the net as wide as possible to find the talent they need. There is also an increasing body of research demonstrating that diverse leadership teams financially outperform less diverse management. A more diverse leadership often translates to better employee engagement, more inclusive decision-making processes, and a deeper understanding of diverse consumers.
The evidence is clear: companies that prioritize diversity, equity, and inclusion (DEI) can effectively recruit and manage a diverse workforce have an absolute competitive advantage.
Shifting perspectives on DEI
There has been a clear shift in the way companies treat DEI in hiring in recent years. Instead of simply “checking a box” or using diversity and inclusion goals for marketing purposes, organizations genuinely realize the value of DEI and are fully incorporating it into their core values.
Part of this shift is a realization that diversity is more than numbers. If the organization is not truly walking the talk, employees say they will go elsewhere. In a sentiment study by the ADP Research Institute, People at Work 2022: A Global Workforce View, three-quarters of respondents (76%) said they would consider looking for a new job if they discovered their company had an unfair gender pay gap or no diversity and inclusion policy. In Deloitte’s 2022 research on millennials and Gen Z, over one-third of participants reported rejecting a job or assignment because it clashed with their personal ethics. Of those in senior positions, almost half (46%) turned down a job or assignment for the same reason.
How to weave DEI values into the hiring process
One vital strategy for achieving greater diversity and inclusion in hiring is to reduce unconscious bias. Unconscious bias can show up in the hiring process in multiple ways — when reviewing resumes, interviewing candidates, and making the final hiring decision. As hard as we may try, beliefs and opinions that have nothing to do with the applicant’s qualifications can sneak in.
The good news is that HCM technology has dramatically evolved, giving TA professionals the tools to reduce bias in hiring, from screening to assessments to interviews. Modern Hire’s science-based virtual hiring platform uses predictive analytics and artificial intelligence (AI) tools to reduce hiring bias and drive fairer candidate experiences. You can hire your most diverse, engaged, and qualified workforce through validated prediction of candidates’ future job performance — not someone’s gut feeling.
Effectively Eliminate Bias in Hiring
Modern Hire’s predictive analytics enable hiring teams to make candidate selection decisions using objective data. At the foundation is CognitIOn by Modern Hire™, the market-leading intelligence engine which integrates more than a billion candidate interactions, practical application of advanced artificial intelligence (AI) techniques, and nearly two decades of diligent, data-driven client research and practice.
Recruiting teams benefit from predictive analytics within multiple tools in the Modern Hire platform:
- Text-based Assessments leverage AI and analytics to scientifically predict turnover. Because it is text-based, candidates have a fast, convenient assessment interaction. Recruiters can use on-demand text in the screening stage to determine turnover risk early, making hiring, especially high-volume hiring, more efficient.
- Automated Screening is an on-demand interviewing screening tool. Candidates record their answers to your custom questions when it’s convenient for them. The software then automatically advances candidates who meet your qualifications to the next stage.
- Virtual Job Tryout® is a pre-employment assessment that gives candidates a series of simulated tasks and job-relevant exercises. This tool is based on nearly 20 years of industrial-organizational (I-O) selection science and validated by more than 400 studies. Modern Hire’s use of advanced AI allows understanding of data patterns at deeper levels than ever before. As a result, the Tryout is highly predictive and effective in reducing bias and predicting future job performance.
- Automated Interview Scoring evaluates candidate responses to open-ended and unstructured questions, providing recommended scores based on job-relevant data proven to be linked to success in a role. It focuses only on the content of candidate answers, never the candidate’s image, facial expressions, or audio characteristics. Hiring teams still make the final evaluation, but Automated Interview Scoring increases efficiency and fairness in finding best-fit talent.
Seriously better hiring through better prediction of job performance and fit
When HR teams are increasingly accountable for workforce DEI, Modern Hire provides the predictive analytics and AI tools to reach diversity hiring goals. Predicting performance and getting AI right is what Modern Hire does. No gimmicks, no faking – only science-based virtual hiring helping HR teams deliver less biased, more equitable hiring.