13 Reasons Your Small or Medium-sized Company Should Hire an Outsourced Chief Diversity Officer
America’s workforce is rapidly changing. Millennials now make up the majority of working people and represent the most diverse workforce in history. Add to that, recent civil unrest in our nation has further exposed racially driven inequities in employment opportunity.
What does it all mean? Simply, it’s more important now than ever to make sure your company is representative of the diversity of this great nation and has a culture that enables both company growth and employee satisfaction. Evidence shows that diverse companies outperform non-diverse companies in sales, profit, growth, and overall competitive stature.
Enter, the Chief Diversity Officer. A Chief Diversity Officer can help keep your small or medium-sized company out of trouble, help keep your company on the right side of public opinion, and a whole lot more!
Hundreds of huge companies – such as Procter & Gamble, Google, Chevron, Amazon, Southwest Airlines, and Walmart – know the benefits of having a Chief Diversity Officer and they invest millions of dollars every year in the hiring of their own Chief Diversity Officers and their staffs.
Question: What do you do if you’re a small or medium-sized company and you don’t have millions to spend every year on a Chief Diversity Officer and staff, or you don’t really need all the excess bells and whistles that huge companies pay for – but, you do want all the benefits from having your own Chief Diversity Officer?
Answer: You get Your Outsourced Chief Diversity Officer.
Here are 13 reasons why your small or medium-sized company needs a Chief Diversity Officer and why you should outsource this important service.
Your Outsourced Chief Diversity Officer is far less expensive than hiring a full-time internal Chief Diversity Officer and their staff.
The reason most small & medium-sized businesses don’t hire Chief Diversity Officers isn’t that they don’t need the expertise—it’s that they can’t afford to hire them and their necessary staff. Fact: Some Chief Diversity Officers earn more in salary than many small or medium-sized businesses make in yearly profit.
With Your Outsourced Chief Diversity Officer, you get the level of expertise you need, as you need it. That means you’re paying for the services rather than the cost of having a C-level executive and staff on your payroll, with all the accompanying employee benefits.
Your Outsourced Chief Diversity Officer Collaborates for Your Benefit
When you hire Your Outsourced Chief Diversity Officer, you gain insight from our entire team of diversity professionals. That collaboration gives your firm access to the expertise and knowledge of successful, hands-on business executives. Your Outsourced Chief Diversity Officer collaborates with our entire team in order to fully evaluate your challenges & opportunities, and to optimize your strategy and plans. You gain the best, vetted ideas, proven to deliver results as you leverage diversity as a growth engine for your business, in the most cost-effective manner.
Your Outsourced Chief Diversity Officer is the best way to get top talent for your company.
As a business leader, you know you’re in competition with other companies for the same customers. That said, many small & medium-sized business leaders hurt themselves by failing to recognize they’re also in a tug-of-war for top talent as well. Research continues to show that diverse workforces are more productive. As such, many small or medium-sized businesses would love to have a more diverse workforce, but they don’t know where to look for top talent, nor how to attract that talent.
This is an area where Your Outsourced Chief Diversity Officer can provide assistance. Your Outsourced Chief Diversity Officer will be a bridge between your small business and the diverse talent you need to attract.
When you need someone to fill a key entry-, mid-, or senior-level role, Your Outsourced Chief Diversity Officer can help you and your HR staff save time and resources by ensuring that your slate of candidates includes talented diverse applicants.
Your Outsourced Chief Diversity Officer Can Save Time and Money
You might think you can’t afford Your Outsourced Chief Diversity Officer. But the reality is the cost of cleaning up a major diversity snafu will be far more expensive than preventing it in the first place. Even worse, a single mistake could lead to the failure of your business.
What about an in-house Chief Diversity Officer and staff? Well, the overhead costs of this in-house team will add up quickly. There’s the mandatory insurance and taxes involved with employees, as well as health benefits, payroll, and facility costs.
Your Outsourced Chief Diversity Officer will save you time, tons of money, and a whole lot of peace of mind.
Your Outsourced Chief Diversity Officer can help implement a new, positive culture within your company.
Along with sweeping changes in social justice awareness, there has risen a need for small & medium-sized businesses to evaluate and alter their company culture. One of the biggest differences between millennials and prior generations in the workforce is what they expect from their job.
Millennials have a greater desire for jobs that’re fulfilling, where they’re appreciated, and are contributing to the greater good. They’re also more likely to leave your company if they feel their needs aren’t being met. This is a major shift from previous generations whose main concerns were punching the clock and working their way up the ladder.
Your Outsourced Chief Diversity Officer will help your small or medium-sized company create a culture that’s conducive to both company growth and employee fulfillment, by using data and metrics to identify, establish, and maintain new, best practices. Your Outsourced Chief Diversity Officer can also help you establish an environment that leads to less employee turnover and more productivity.
Consumers prioritize reputation when choosing which brands to purchase.
Over the past few years, a new phenomenon has taken place where consumers are using their collective buying power to force companies to change or go out of business. This new phenomenon is driven by increased consumer awareness of how companies do business, who they hire (or fail to hire), who runs the company, and how they treat their employees & job applicants.
Your Outsourced Chief Diversity Officer is keenly aware of social justice issues, consumer trends and political movements, and is adept at helping companies to stay ahead of them. Whether it be developing a campaign that emphasizes your company’s commitment to social justice or organizing charitable events for underserved communities, Your Outsourced Chief Diversity Officer is experienced at helping small companies stay on the right side of history and the marketplace.
Your Outsourced Chief Diversity Officer is an expert in employee development.
One of the biggest disparities in the workforce is in the rate of career advancement of employees when evaluated by race and gender. Your Outsourced Chief Diversity Officer can recommend and implement employee development programs that help under-represented groups, women, and all other employees get the mentorship and opportunities necessary to advance in the company.
Your Outsourced Chief Diversity Officer can alleviate stress for your HR department.
In this age of heightened social awareness, HR departments have had to play the role of jacks-of-all-trades. On top of their normal front office duties, they’ve been tasked with handling typical personnel issues, training & development, job evaluation processes, recruiting, and employee counseling. Now – try to add to that all the nuances needed for a proper diversity, equity, and inclusion program for your company! It’s just too much.
Your Outsourced Chief Diversity Officer will lead the diversity, equity, and inclusion efforts for your company.
Your Outsourced Chief Diversity Officer can improve community relations.
Having a great reputation in your community makes it easier to attract customers, talented new hires, and positive press.
Your Outsourced Chief Diversity Officer has access to expertise and communities that are beyond the reach of most small & medium-sized businesses. In addition, Your Outsourced Chief Diversity Officer can serve as an ambassador for your company to underrepresented communities, thus improving your company’s reputation in your community and in the media.
Your Outsourced Chief Diversity Officer is aligned with your company’s leadership and goals.
From the very first Discovery Call between you and Your Outsourced Chief Diversity Officer and through every meeting and initiative you approve that is conducted for your company, the goal is alignment. Alignment between what your goals are for your company and the actions you think should be taken for your company by Your Outsourced Chief Diversity Officer.
Your Outsourced Chief Diversity Officer has worked as senior leadership of global, mid-sized, small, and startup companies. As such, Your Outsourced Chief Diversity Officer is comfortable engaging with your senior leaders about opportunities and challenges.
Your Outsourced Chief Diversity Officer Maintains Reliable & Accurate Diversity Records
It’s easy to lose awareness of where you stand as far as diversity, equity, and inclusion are concerned. And the old adage applies: “What’s not inspected gets neglected.” But, you don’t want to be caught by surprise by big problems that could have been easily addressed when they were small issues – – if you had known about it.
Your Outsourced Chief Diversity Officer will provide you with consistently accurate and up-to-date diversity, equity, and inclusion plans, progress, recommendations, and information – which will be a total game-changer for your small or medium-sized business. You will have greater confidence in your status and will be able to make well-informed personnel and business decisions. Even better, you will be able to more easily address any issues that could negatively impact your business.
Your Outsourced Chief Diversity Officer Means Reduced Risk for Your Business
Businesses both big and small need to maintain effective diversity, equity, and inclusion processes in order to protect against running afoul of the law and societal expectations. However, when your business is lean on diversity expertise and resources, and has just a few people filling multiple roles, this can mean less oversight and greater risk. This could land you and your business in a heap of trouble legally, while wrecking your credibility with customers and partners.
Your Outsourced Chief Diversity Officer will be laser focused on the diversity, equity, and inclusion needs of your business and the goals you set in these areas. This results in strong oversight that helps mitigate risks.
Your Outsourced Chief Diversity Officer Allows You to Stay Focused on Growing Your Business
This is perhaps the most important benefit of all. Your Outsourced Chief Diversity Officer makes sure that the day-to-day diversity, equity, and inclusion complexities aren’t sucking up all your time and energy. This means that you and company leadership can stay focused on growing your business.
Ready to talk about how Your Outsourced Chief Diversity Officer can help your company achieve amazing results from your D.E.I. efforts and start leveraging the business benefits of diversity, equity, and inclusion today, at a small fraction of the cost of a full-time Chief Diversity Officer? Click the button below and schedule a no-cost Discovery Session with our Managing Partner.