Episode Transcript
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Speaker 1 (00:06):
Welcome to the Work
Wonders podcast brought to you
by Asta HR, where we simplifythe human side of business.
Speaker 2 (00:12):
I'm Angela and I'm
Susan, let's dive into today's
episode and find out what you'vebeen wondering about.
Speaker 1 (00:21):
In today's episode,
we're exploring the topics of
diversity, equity and inclusion.
We'll talk about more of how itcreates an engaged and
inclusive environment that notonly makes your employees feel
valued, but improves retentionalso In today's diverse and
dynamic workforce and, I guess,a diverse and dynamic community
(00:42):
as well.
Speaker 2 (00:43):
Dei or diversity,
equity, inclusion isn't just
about compliance anymore.
It's about creating a culturewhere everyone can thrive.
In this episode, we'll diveinto why DEI matters for
employee loyalty and share withyou some as usual, some
practical strategies for howwe're going to foster an
inclusive workplace, especiallywhen it comes to retention.
(01:04):
So let's get started.
Speaker 1 (01:05):
This is the Work
Wonders podcast how we're going
to foster an inclusive workplace, especially when it comes to
retention.
So let's get started.
This is the Work Wonderspodcast.
Hi Angela, hi Susan.
So DEI, or diversity, equityand inclusion is the topic for
today.
So diversity is about bringingpeople from different
(01:26):
backgrounds, differentperspectives and experiences
obviously into the workplace.
Equity ensures that everyonehas access to the same
opportunities and is included,and it's about creating an
environment where everyone feelslike they belong.
But together, those two thingscan create a culture that
fosters engagement and loyalty.
Speaker 2 (01:45):
Exactly.
In fact, studies have shownthat companies with strong DEI
programs are more innovative andhave higher employee
satisfaction.
According to a report fromMcKinsey, companies with more
diverse executive teams are 25%more likely to have above
average profitability.
So there's financial benefits,but it's also about creating an
(02:07):
environment where people feelrespected, included and valued,
and that obviously is going todirectly impact retention, isn't
it?
Speaker 1 (02:14):
Yes I'd say.
That's why it matters, becausewe do want staff that feel okay
where they're working and aremore likely to stay.
So if they're feeling thatsense of belonging and being
treated equitably, they're muchmore likely to stay.
So if they're feeling thatsense of belonging and being
treated equitably, they're muchmore likely to stay.
Look on the flip side if aperson's not experiencing that
there's a lack of diversity inthe team, or maybe the practices
(02:35):
aren't that inclusive, somepeople are feeling left out,
somebody might be feelingmarginalized.
It can lead, obviously, to theopposite being high turnover
rather than retention.
So investing in DEI definitelyis going to help your business
to make sure that everyone has afair chance to grow, succeed
and obviously, the name of thegame, stay.
Speaker 2 (02:57):
So this all sounds
good, Angela, but how do we
create inclusive and equitableworkplaces?
Speaker 1 (03:04):
This is where I get
out my magic wand.
Speaker 2 (03:05):
Oh, yes, is that
right?
Hang on, I'll get mine out too.
Speaker 1 (03:09):
No, look.
So, companies, if you want tobuild an inclusive and engaging
culture, it's going to startwith listening to your workplace
and to your employees andlistening, like you said, into
the diverse sort of communitythat we live and work in.
You might think about puttingtogether a small group of your
employees to have some feedbackor do some work with, but simply
(03:30):
just regular check-ins withpeople.
You know just the simple.
How are you going?
What can you tell me about theworkplace?
How can we improve?
It Is kind of underrated, butso so valuable.
Doing that can help youunderstand where those barriers
might exist or where inclusionisn't happening.
It's also important to sort ofactively remove those barriers
(03:51):
and addressing any sort ofunconscious bias We've talked
about that in previous episodesand certainly discriminatory
practices.
We don't want any of that ifwe're aiming for inclusion,
obviously.
Speaker 2 (04:06):
No, definitely not.
And just thinking aboutbarriers, and you know we've
talked in the past about gettingfeedback from employees about
things.
Well, please don't ask them forfeedback if you're not going to
do anything about it.
It might be fine to know whatthe barriers are, but it's then
assumed that you'll do something.
Speaker 1 (04:21):
Yes, don't ask me if
you don't want to take action,
that's right.
Speaker 2 (04:26):
That's a good summary
, a good rule in life, actually,
yeah.
So what sort of things couldyou do?
So, for example, there might bementorship programs so you
could use mentoring to supportunderrepresented groups, so that
can be an effective way topromote inclusion.
So I'm thinking, you know, ifyou just pick a group say women
(04:49):
are a minority in your industryor in your business then it
would be understandable if youcould use the women that you do
employ to help mentor othersyeah.
Depending on their willingnessto do so, of course, and that
may require a bit of trainingand encouragement as well, but
(05:11):
be open to that.
It's also important thatleaders model inclusive
behaviour.
Yeah, very true.
So what does that mean?
That means that everybody'svoice is heard, especially in
meetings.
We all know the saying.
You know the squeaky wheel getsthe oil, or however that goes,
(05:31):
and some people do tend to bemore squeaky than others and
require more of your attention.
But, as a leader, it's yourresponsibility to pay attention
to what's going on from thosewho aren't making as much noise
as well that's so true, andconsider them in your
decision-making processes.
And really, when it comes toinclusion, leaders need to
(05:53):
prioritise that, because they'resetting the tone for the rest
of the company.
Speaker 1 (05:57):
That's very true.
The other piece of the puzzlewe haven't talked about yet is
equity, which is a criticalpiece.
So when employees know thatthey have fair access to
opportunities, as I said, orresources, pay, they're more
engaged and committed.
Obviously, but that transparentcommunication that you're
(06:21):
talking about is reallyimportant.
So about those things likepromotion opportunities or pay
you know, with secure jobs,better pay, the pay secrecy is
not a thing anymore.
So you know, these sorts ofthings are on the table and can
be talked about Career paths andopportunities as well, like you
touched on there.
So having those really frankconversations with people about
where they see their careergoing is key to keeping them
(06:42):
around Exactly.
Speaker 2 (06:44):
And one thing I'd
like to emphasise there is that
it's not just about you knowingthat you're doing everything
fairly and equitably.
It's about your employeesseeing it and perceiving that.
Speaker 1 (06:57):
That's very true,
yeah.
Speaker 2 (06:59):
Sometimes we can
inadvertently give the
impression of favouritism orpeople not being fairly treated,
without really meaning to.
Speaker 1 (07:08):
Yeah, understanding
how it lands for the other
person, yeah, exactly.
Speaker 2 (07:12):
And those equity
things are not just about pay,
so it's about things likeflexible working, dare we say
why does this come up in everysingle conversation?
And benefits that cater to adiverse workforce.
So mental health support andparental leave policies it could
be personal leave, it could beleave for particular holidays.
(07:36):
So there's a lot of differentways that you can recognise that
you have a diverse workforceand make sure that everyone gets
equal access to the benefitsthat you offer.
And, as we keep saying, whenemployees feel supported,
they're more likely to engageand remain loyal to you.
Absolutely, if today's episodeis giving you some light bulb
(07:58):
moments, why not leave us areview?
We'd really appreciate it.
Speaker 1 (08:09):
So we've talked about
what it is DEI and retention
and how it impacts that and whyyou should do it.
We've given you some practicalstrategies there, but now let's
think about the link between DEIand retention and how that can
improve that.
So, look, one of the mostpowerful ways to improve
retention is through fostering aculture of belonging.
As we said, it starts withinclusive hiring practices and
onboarding that make employeesfrom all different backgrounds
(08:31):
feel welcome, and that'sobviously coming from your
culture.
But it's also important tocreate spaces where employees
can bring their authentic selvesto work.
Speaker 2 (08:42):
So that is really
what belonging is about, isn't
it?
Exactly who I am belongs here,not who the mask I put on to go
to work.
Speaker 1 (08:52):
Absolutely so,
whether that's through inclusive
language, creating diverseholidays or events that you
celebrate together as a team,but ensuring that all employees'
voices are heard during teammeetings, things like that all
contribute to that sort of senseof feeling belonging.
Speaker 2 (09:11):
That's true and I'm
just thinking, you know, in
terms of belonging.
Having diverse leadership isalso crucial.
Speaker 1 (09:17):
Yeah, that's true.
Speaker 2 (09:18):
You can't be what you
can't see.
Yeah, so I'm going to feel likeI belong in an organisation
that has leadership that reflectme in some way.
Speaker 1 (09:28):
Yeah.
Speaker 2 (09:29):
Either my background
or you know my values.
That's all part of belonging,so employees need to see that
reflected in leadershippositions and also feel like
that means that there's a pathfor advancement for them.
Speaker 1 (09:45):
True.
So measuring your effortstowards these things that we're
saying is another importantaspect to improving retention.
If you set clear, measurablegoals around these things, it's
going to help you to understandhow that's impacting retention
and what sort of benefit you'regetting from it.
You know it could be thingslike whether you are hiring more
(10:06):
diverse talent.
You could take numbers on that.
You could look at the promotionopportunities and whether
that's equally shared amongstthe different members of the
team, or simply just creatingmore inclusive workplace
policies.
You could even audit thediversity and equity amongst
your team and surveys, gettingthat feedback from your staff.
(10:28):
All those sorts of things helpto track your progress and
adjust those strategies as youneed to Exactly.
Speaker 2 (10:35):
And it's so important
to track that progress, because
DEI is not just a one-off.
So true, so it's not like oh,we're going to do that, We've
got a policy for that, so we'reoff.
That's ticked off the list.
It really requires that ongoingcommitment, and part of that is
going to be evaluating yourefforts and how they are working
(10:58):
for you and for your employees.
Speaker 1 (11:01):
So when diversity,
equity and inclusion are done
right, as we said, it's going tostrengthen the loyalty of your
employees.
But when they feel that senseof belonging, they see equitable
opportunities for themselvesand they work in that inclusive
culture, as we said, it's goingto definitely impact retention
(11:22):
because they're going to want tostay around in that environment
, in that positive environment.
Speaker 2 (11:27):
Yes, that's right,
and another thing that's key is
fostering allyship.
Allies in your organisation canuse their influence to support
and advocate forunderrepresented groups, which
is going to help build a moreinclusive workplace.
I think it's probably useful toalso have inclusive leadership
training, because you can helpyour leaders recognise their
(11:48):
biases and become betteradvocates for diversity and
support the growth of allemployees in the business.
Speaker 1 (11:56):
Okay, so look, I
think we've explored diversity,
equity and inclusion, and thecentral role in building an
engaging and inclusive workplacethat's obviously going to lead
to employee retention.
So by fostering a culture ofbelonging, promoting equity and
continuously improving the DEIstrategies in your business,
(12:17):
you're not just going to createa better workplace for you to
work in, but you'll be buildinga stronger and more loyal team.
Speaker 2 (12:29):
Yes, and that
building is right from
attracting them, you know,making it a more attractive
place to work so that you'rebroadening your talent pool.
So we would really encourageyou to take a closer look at
what you're doing in terms ofDEI and think about how you can
make your workplace even moreinclusive.
There's even small steps thatyou could take, like listening
(12:49):
to employee feedback or offeringflexible work arrangements,
that can have a big impact onretention.
Speaker 1 (12:57):
Or even just thinking
about it yourself.
Maybe this episode's made youstop and think about what
practices you have in yourbusiness, and if you don't,
that's okay.
It's just room to start now,and thinking about it yourself
is the first place to start,which is great.
We had a great episode back inseason two.
If you haven't listened to it,it was an interview we did with
(13:19):
Jess and Ben in season two,episode three, where we really
unpacked diversity, equity,inclusion in a lot more detail.
So if you'd like to know more,go back to that episode and have
a listen and a sneak peek foryou.
Our upcoming episode will bewith another guest interview
with a business in WesternSydney who is doing wonderful
things in their team, which I'msure that you'll get a lot out
(13:41):
of.
So stay tuned for that and makesure you hit subscribe so you
know when that episode's goingto come out.
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(14:13):
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