[5 Steps] Stopping turnover in its tracks
What you'll learn:
Actions to reduce turnover based on five recent workplace trends that are causing employee attrition.
Fostering an inclusive culture
If you only recently learned about the phrase “DEIB,” you’re not alone. The acronym has existed in various forms for decades, but was popularized in 2020 amid mass conversations about structural inequality and racial justice.
It’s no secret organizations have work to do with diversity and equity—the D and E of the DEIB puzzle. Many, like Google and Facebook, have made public pledges to improve diversity efforts as part of a multi-year plan. And yet, diversity alone doesn’t ensure equity. Enter the I and B of DEIB—inclusion and belonging. These two terms are often overlooked compared to their D and E counterparts, but if anything, they’re the most crucial parts of the equation.
Inclusion means valuing all ideas and welcoming all backgrounds and identities. This can be as small a gesture as recognizing someone for a job well done, or as large as recommending them for a new role or project. A natural by-product of inclusion is that your employees feel a sense of belonging. And when employees feel they belong in your organization, they’re more likely to stick with the org for the long haul.
The data speaks for itself. According to The 2022 State of Talent Optimization Report, companies that prioritize inclusion are experiencing 19% lower turnover than their peers. If five people are thinking of leaving, one can be convinced to stay, simply by treating them with the love and respect they deserve.
It’s the Golden Rule: Treat others how you’d like to be treated. Invest in inclusion, and your people will reciprocate with retention.