Retain Diverse Talent With Employee Resource Groups (ERGs)

Now, more than ever, it’s abundantly clear that embracing DEI and building a culture of inclusion and belonging are essential.?Essential for your business, for society and for humanity. Simply put, if you’re not focusing on it, someone else will be, possibly your competitors, and your best employees will leave to work there.

The Great Resignation isn’t over yet

One in four employees don’t feel secure in their current positions and almost half?of them plan to explore new job options in 2023, according to a new report that indicates?the Great Resignation remains in full swing.

Over the past year, more than 4 million workers have quit their jobs every month, according to US Bureau of Labor Statistics.

There’s another, hidden issue to “the great resignation,” as well: employees just won’t put up with an organization that doesn’t align with their values anymore. Frankly, it’s just not worth it for them to stay in a place where they feel they don’t fit in. If they were considering leaving their job before, not feeling respected and that they belonged in the workplace culture would accelerate their exit.

How to Retain Diverse Employees in The Great Resignation

What diverse talent pools are the greatest retention challenges during the great resignation?

·??????Women

·??????Working mothers

·??????Black employees

·??????Younger workers – Millennials and Gen Z employees

·??????Employees with mental health challenges

Develop and Support Employee Resource Groups (ERGs)

Companies can offer support for diverse talent within the workplace by introducing Employee Resource Groups (ERGs). ?ERGs are voluntary, employee-led groups whose aim is to foster a diverse, inclusive workplace aligned with the organizations they serve.

They're usually led and participated in by employees who share a characteristic, whether it's gender, ethnicity, religious affiliation, lifestyle, or interest. The groups exist to provide support and help in personal or career development and to create a safe space where employees can bring their whole selves to the table. Allies may also be invited to join the ERG to support their colleagues.

Today, according to TopMBA, ERGs are found in 90% of Fortune 500 companies.

However, the percentage of companies with ERGs drops significantly with FORTUNE 501-1000 ranked companies, the Inc. 5000 list of the 5,000 fastest-growing private companies in the U.S. based on their revenue growth rate, and nonprofits, and healthcare organizations.

“Human resources teams that support employee resource groups (ERGs) gain partners in fostering employee engagement. These groups can also help counter the spike in employee turnover known as the Great Resignation”, said author Christine Michel Carter, during the SHRM Annual Conference & Expo 2022 in New Orleans.

?What are the most common ERGs?

Companies new to DEI often establish their ERGs in a predictable order. Most will start with a women’s group, to support and encourage women in the workplace.

Next is likely to be a group for Black employees or people of color. ?Organizations may create an LGTBQ+ group around the same time.

The employee resource group examples after this point tend to vary based on the company’s demographics and feedback from employee engagement and/or DEI assessments.??Groups may include:

·??????AAPI

·??????Latinx

·??????Indigenous

·??????Veterans/military

·??????Parents/caregivers

·??????Mental health

·??????Dis/differently abled

·??????Faith-based (often interfaith)

·??????Age-based (e.g. young professionals, seasoned professionals, intergenerational)

·??????Region/location-based groups

As you can see, there are a wide range of employee resource group examples organizations can create to drive belonging and retention.

"The most innovative HR teams view these groups as a dynamic retention tool," said author Christine Michel Carter at the SHRM conference. "It's ultimately up to the employer to actively monitor employee morale and provide opportunities for advancement, but ERGs are an often-untapped resource."

What are the benefits of ERGs for retention?

·??????The ERGs within a workplace reflects the company’s values a lot more than an equal opportunity employer statement.

·??????ERGs are great for celebrating your employees and underrepresented groups within your workforce. They can encourage other people from these groups to join because they know that they’ll have friends and allies within your business.

·??????ERGs help employees connect with colleagues who share something in common with them. They provide a sense of community, which can help people find their purpose and confidence in the workplace.

·??????The fact that they’re set up informally, or often have an informal atmosphere to them, can be refreshing. This is particularly true in businesses that are larger, more formal, or may be perceived as old-fashioned.

To learn more about Employee Resource Groups (ERGs) and Retaining Diverse Talent…

·??????Link to my conversation with ERG leaders at Anthem and Northwell Health about how they have taken their ERGs from Reactive to Strategic.

·??????Download my FREE Employee Resource Groups E-Guide.

·??????Read my recent Blog post: 7 Tips For Retaining Diverse Talent

Download your FREE - The CHRO's Guide to Advancing Workplace DEIB A Human Resources Leader's Guide to Advancing Diversity, Equity, Inclusion & Belonging in the Workplace. Turn your commitment to DEIB into action.

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If you are new to DEI as a business strategy to grow your business, consider this development opportunity...

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Till next time... thank you for reading!

Published by

Charlotte F. Hughes

ILG Founder & CEO

Inclusive Leaders Group (ILG) is a Black woman-owned boutique strategic consulting & training firm specializing in Diversity, Equity, and Inclusion (DEI) as a business strategy and organizational values. We work with organizations at all stages of their DEI journeys, and we particularly shine when working with medium and small companies and organizations NEW to DEI, evolving from EOE compliance or basic D&I programs to a multi-year DEI strategic plan with goals, objectives, initiatives, and metrics aligned with their overall business strategy