{"id":12307,"date":"2024-04-19T17:27:41","date_gmt":"2024-04-19T21:27:41","guid":{"rendered":"https:\/\/thediversitymovement.com\/?p=12307"},"modified":"2024-04-24T15:53:59","modified_gmt":"2024-04-24T19:53:59","slug":"retain-top-talent-8-best-practices-for-increasing-feelings-of-belonging-and-equity","status":"publish","type":"post","link":"https:\/\/thediversitymovement.com\/retain-top-talent-8-best-practices-for-increasing-feelings-of-belonging-and-equity\/","title":{"rendered":"Retain Top Talent: 8 Best Practices for Increasing Feelings of Belonging and Equity"},"content":{"rendered":"<p><button id=\"listenButton1\" class=\"responsivevoice-button\" type=\"button\" value=\"Play\" title=\"ResponsiveVoice Tap to Start\/Stop Speech\"><span>&#128266; Listen to this article<\/span><\/button>\n        <script>\n            listenButton1.onclick = function(){\n                if(responsiveVoice.isPlaying()){\n                    responsiveVoice.cancel();\n                }else{\n                    responsiveVoice.speak(\"Employers are in a continuous competition for the best employees, and making sure they remain in their jobs saves organizations time and money. Today\u2019s employees are demanding more flexibility, clear professional development tracks, and alignment with a company\u2019s values. A strong commitment to equity and belonging is crucial, not just in the recruitment phase, but throughout an employee\u2019s tenure at an organization. Below are eight best practices for retaining employees. Examine pay equity. Individuals should be paid the same amount for the same work with reasonable adjustments based on tenure, experience, and performance. Be sure to examine pay rates between demographic groups, specifically gender identity, race, and disability. Women are still paid just $0.83 for every $1 a White man makes. Black and Latino men make just $0.87 and $0.91, respectively, for every $1 a White man makes. And people with disabilities make $0.66 for every $1 a person without a disability makes. Paying different wages for the same work is a surefire way to break trust with employees, causing them to look for employment elsewhere. Make onboarding comprehensive. A good work experience begins with strong onboarding. In fact, strong onboarding can increase new hire retention by 82% and new employees who went through a structured onboarding program were 58% more likely to be with the organization after three years. If your end goal is to retain top talent, be sure to adequately onboard all new hires. Create inclusive physical and virtual spaces. Inclusion is a huge driver of retention. And in our modern workplace, you need to ensure both physical and virtual spaces are inclusive and accessible. This might mean leaving adequate space throughout the office for a person using a wheelchair to navigate comfortably or enabling closed captioning during Zoom meetings. Be sure that every employee is equipped to do their best work.\u00a0 Update your policies. Is your employee handbook riddled with \u201che or she,\u201d rather than \u201cthey\u201d? Are benefits lacking for same-sex domestic partnerships? Are leave policies designed for the traditional nuclear family? Take some time to evaluate your current policies and rewrite them so they are inclusive of all people. Outline opportunities for career progression and professional development. Employees want to know that there are opportunities for growth within the organization. Make sure that everyone has equitable access to professional development opportunities such as coursework, stretch projects, and mentorship\/sponsorship.\u00a0 Conduct stay interviews. Meet with current employees to discover why they stay with the organization and what might cause them to leave. Stay interviews also aim to reveal what could make happy employees\u2019 experiences even better. These interviews are a great opportunity to make tweaks to an employee\u2019s experience so that they stick around for many years to come. Utilize exit interviews. Folks leave organizations for a number of reasons. If the reason is of the employee\u2019s volition, be sure to conduct an exit interview. You\u2019ll want to understand why the employee chose to leave and what could have been done to make them stay. Implement 360 reviews. A 360-degree performance review is an assessment that considers evaluations from supervisors, peers, and the employee themself. The benefit of these reviews is that they are comprehensive, balanced, and accurately identify development needs.\u00a0 The eight steps above will ensure your organization is treating employees equitably and soliciting feedback from employees on how to make their experiences even better. Equitable policies and a positive workplace culture are strong determinants of retention. To learn more about inclusive hiring, recruitment, and retention, visit our hiring or HR topic tags in TDM Library.\", \"US English Male\");\n                }\n            };\n        <\/script>\n    <br \/>\n<span style=\"font-weight: 400;\">Employers are in a continuous competition for the best employees, and making sure they remain in their jobs saves organizations time and money. Today\u2019s employees are demanding more flexibility, clear professional development tracks, and alignment with a company\u2019s values. A strong commitment to equity and belonging is crucial, not just in the recruitment phase, but throughout an employee\u2019s tenure at an organization. Below are eight best practices for retaining employees.<\/span><\/p>\n<h3>Examine pay equity.<\/h3>\n<p><span style=\"font-weight: 400;\">Individuals should be paid the same amount for the same work with reasonable adjustments based on tenure, experience, and performance. Be sure to examine pay rates between demographic groups, specifically gender identity, race, and disability. <\/span><a href=\"https:\/\/19thnews.org\/2023\/03\/equal-pay-day-2023-charts-gender-pay-gap\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Women are still paid just $0.83<\/span><\/a><span style=\"font-weight: 400;\"> for every $1 a White man makes. <\/span><a href=\"https:\/\/www.payscale.com\/research-and-insights\/racial-wage-gap-for-men\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Black and Latino men make just $0.87 and $0.91<\/span><\/a><span style=\"font-weight: 400;\">, respectively, for every $1 a White man makes. And <\/span><a href=\"https:\/\/www.census.gov\/library\/stories\/2019\/03\/do-people-with-disabilities-earn-equal-pay.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">people with disabilities make $0.66<\/span><\/a><span style=\"font-weight: 400;\"> for every $1 a person without a disability makes. Paying different wages for the same work is a surefire way to break trust with employees, causing them to look for employment elsewhere.<\/span><\/p>\n<h3>Make onboarding comprehensive.<\/h3>\n<p><span style=\"font-weight: 400;\">A good work experience begins with strong onboarding. In fact, <\/span><a href=\"https:\/\/www.oak.com\/blog\/employee-onboarding-statistics\/#:~:text=Great%20Employee%20Onboarding%20Can%20Improve,productivity%20by%20over%2070%20percent.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">strong onboarding can increase new hire retention by 82%<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.thehrteam.com\/blog\/employee-onboarding-in-2023-four-game-changing-trends-youll-wish-you-knew-about-sooner\/#:~:text=A%20study%20by%20the%20Wynhurst,completing%20a%20structured%20onboarding%20program.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">new employees who went through a structured onboarding program were 58% more likely to be with the organization after three years<\/span><\/a><span style=\"font-weight: 400;\">. If your end goal is to retain top talent, be sure to <\/span><a href=\"https:\/\/thediversitymovement.com\/best-practices-for-inclusive-onboarding\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">adequately onboard<\/span><\/a><span style=\"font-weight: 400;\"> all new hires.<\/span><\/p>\n<h3>Create inclusive physical <i>and<\/i> virtual spaces.<\/h3>\n<p><span style=\"font-weight: 400;\">Inclusion is a huge driver of retention. And in our modern workplace, you need to ensure both physical and virtual spaces are inclusive and accessible. This might mean leaving adequate space throughout the office for a person using a wheelchair to navigate comfortably or enabling closed captioning during Zoom meetings. Be sure that every employee is equipped to do their best work.\u00a0<\/span><\/p>\n<h3>Update your policies.<\/h3>\n<p><span style=\"font-weight: 400;\"> Is your employee handbook riddled with \u201che or she,\u201d rather than \u201cthey\u201d? Are benefits lacking for same-sex domestic partnerships? Are leave policies designed for the traditional nuclear family? Take some time to evaluate your current policies and rewrite them so they are inclusive of all people.<\/span><\/p>\n<h3>Outline opportunities for career progression and professional development.<\/h3>\n<p><span style=\"font-weight: 400;\">Employees want to know that there are opportunities for growth within the organization. Make sure that everyone has equitable access to professional development opportunities such as coursework, stretch projects, and mentorship\/sponsorship.\u00a0<\/span><\/p>\n<h3>Conduct stay interviews.<\/h3>\n<p><span style=\"font-weight: 400;\">Meet with current employees to discover why they stay with the organization and what might cause them to leave. <\/span><a href=\"https:\/\/thediversitymovement.com\/stay-interviews-keep-employees-happy-engaged\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Stay interviews<\/span><\/a><span style=\"font-weight: 400;\"> also aim to reveal what could make happy employees\u2019 experiences even better. These interviews are a great opportunity to make tweaks to an employee\u2019s experience so that they stick around for many years to come.<\/span><\/p>\n<h3>Utilize exit interviews.<\/h3>\n<p><span style=\"font-weight: 400;\">Folks leave organizations for a number of reasons. If the reason is of the employee\u2019s volition, be sure to conduct an exit interview. You\u2019ll want to understand why the employee chose to leave and what could have been done to make them stay.<\/span><\/p>\n<h3>Implement 360 reviews.<\/h3>\n<p><span style=\"font-weight: 400;\">A 360-degree performance review is an assessment that considers evaluations from supervisors, peers, and the employee themself. The benefit of these reviews is that they are comprehensive, balanced, and accurately identify development needs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The eight steps above will ensure your organization is treating employees equitably and soliciting feedback from employees on how to make their experiences even better. Equitable policies and a positive workplace culture are strong determinants of retention. To learn more about inclusive hiring, recruitment, and retention, visit our <\/span><a href=\"https:\/\/tdmlibrary.thediversitymovement.com\/tag\/hiring\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">hiring<\/span><\/a><span style=\"font-weight: 400;\"> or <\/span><a href=\"https:\/\/tdmlibrary.thediversitymovement.com\/tag\/hr\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">HR<\/span><\/a><span style=\"font-weight: 400;\"> topic tags in TDM Library.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employers are in a continuous competition for the best employees, and making sure they remain in their jobs saves organizations time and money. Today\u2019s employees are demanding more flexibility, clear15<\/p>\n","protected":false},"author":15,"featured_media":10172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[65,60],"tags":[87,111],"tdm_type":[91],"class_list":["post-12307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diversity-equity-and-inclusion-fundamentals","category-employee-experience-organizational-culture","tag-business-case-for-diversity","tag-global-dei","tdm_type-checklists"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retain Top Talent: 8 Best Practices for Increasing Feelings of Belonging and Equity<\/title>\n<meta name=\"description\" content=\"Discover the top 8 best practices to increase feelings of belonging and equity in the workplace with Kaela Sosa&#039;s guide on retaining top talent. 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