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6 Benefits of Diversity Hiring That You May Not Know About

By Employer

Hiring a diverse workforce has become a priority for so many companies worldwide. While it’s still optional for many employers in Canada, some governments worldwide are starting to regulate it.

Some businesses want to attract a diverse group of people to reflect the community, but that’s not the only advantage. Diversity in the workplace has many more benefits than just ticking a box. 

What is EDI or Equity, Diversity, and Inclusion in the Workplace?

Diversity and inclusion hiring provide opportunities for underrepresented groups that wouldn’t otherwise be considered because of biases related to a candidate’s age, race, gender, religion, sexual orientation, or any characteristics unrelated to their job performance.

There is a common misconception that EDI hiring aims to increase workplace diversity for the sake of diversity. The objective of diversity hiring is to identify and reduce potential unconscious biases in screening, shortlisting, and hiring qualified candidates. The long-term goal for EDI hiring is to create a culture of inclusivity and diversity in the workplace to reflect society.

Benefits of Diversity in the Workplace

Diversity recruitment isn’t only the right thing to do, but it’s also the smart thing to do. When a business recruits and retains a diverse pool of people, it benefits the company and its employees. 

Here are some of the benefits that employment diversity could improve your business in the short and long run.

1. Improving Sales 

Diverse companies are more profitable and more likely to achieve long-term growth as an entity when compared to less-diverse counterparts. 

Forbes research has identified that workforce diversity and inclusion create better performance for product development and new markets, while companies with diverse top management reap the benefits of higher earnings and returns on equity.

According to McKinsey’s research, for every 1% increase in diversity, the company should predict a 3% to 9% increase in sales revenue.

2. Decreasing Turnover 

Companies that recruit and retain a diverse workforce have a competitive advantage. 

Many employees prefer companies with diverse workforces because this shows that the company is open, accepting, and free of discrimination. This leads to happier employees who feel loyal to their company and are more likely to stay there for years. 

Decreased turnover rates can also save time and money, improve recruiting efforts and help you get the brightest available talent through your doors.

3. Increasing Creativity

Growing up, living, and working in a different country often gives immigrants to Canada a unique perspective that can enrich your company’s decision-making processes. When you have a wide variety of minds working together to solve a problem or help your company achieve some goals, you get unique and out-of-the-box solutions.

Professors Hong and Page from the University of Michigan showed that groups of diverse problem solvers could outperform groups of high-ability problem solvers.

4. Cultivating a Resilient Workforce 

In today’s ever-changing market, the ability to adapt to sudden and unforeseen events can make or break your business.

Luckily for you, diverse groups of immigrants come with a proven ability to stand in the face of any change. They’ve left their countries, families, and lives as they know them, hustled, and settled in Canada. 

If you want to increase your company’s resilience, these are the kinds of employees you should be hiring.

5. Better Access to Local and International Markets

The Canadian market is so diverse right now, with one in five Canadians identifying as an immigrant. 

Hiring diverse immigrant groups is only natural because it reflects the community. Companies with a diverse staff are better positioned to meet the needs of diverse customer bases. They can also help a company tailor its messages and approach and better connect with different groups in the market.

It doesn’t just work locally; immigrants can be an invaluable asset if your company wants to expand internationally. They can often offer up insights and contacts in their home country and save their employers time and money.

6. Enhancing Corporate Reputation

Inclusive companies that hire a diverse workforce are more likely to be viewed positively in their industry.

Being recognized as an inclusive organization can help your company receive good press and develop a strong employer brand, which will help you improve your reputation. 

Career Edge partners such as RBC, Scotia Bank, TD Bank, Manulife, TTC, and the City of Toronto have been receiving Canada’s Best Diversity Employers award for years. This program recognizes employers across Canada with exceptional workplace diversity and inclusiveness programs.

Want to hire a more diverse workforce? Get in touch with Career Edge today!

Celebrating Black History Month

By General

February 1st marks the start of Black History Month – a time where we celebrate and honour the achievements, stories, and legacy of Black Canadians. We are invited to learn about the contributions Black Canadians and their communities have made and continue to make within our society.

“Coming from a place where there are many ways in which African culture and festivals are celebrated, it is interesting to know that contributions made by people of African descent are recognized and celebrated in Canada as well.”

– Lola Pitan, Talent Specialist, Career Edge
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New Year Resolutions

By General

For many of us, the New Year is a chance to not only reset and reflect on the year that passed, but also to set goals, create milestones, and plan for growth over the next 365 days. Considering the eventful, tumultuous, exhausting (and sometimes confusing) last couple of years, mental health, self-care, and work-life balance has shot-up the resolution lists for a lot of us. As for organizations and employers, taking care of their employees and ensuring a healthy and safe work environment will continue to be the priority for the year to come.

For Career Edge, welcoming the year of 2022 meant continuing our mission of creating meaningful, valuable, transforming, life-changing internship opportunities that empower individuals and launch careers that matter. As an organization, this is what we’re committing to for the year to come: Read More

Why is Career Edge so important to me? By Jasveen Kaur

By General

Over the coming months, hear stories right from our very own staff about why Career Edge and the work that they do is so important to them.

Jasveen Kaur

Talent Specialist

I moved to Canada in 2019 as a stay-at-home mom of 2 lovely boys aged 5 and 2. The move came about in a short period of time as my husband was presented an international opportunity to relocate. I had been on a parenting break since 2014 after a successful professional career spanning 10 years in HR and Talent Acquisition leading IT, banking, and financial services recruitments.

The plan was to restart my career after spending initial few months to settle in the family, but soon the world was hit by a pandemic and as anyone could be, I was lost, unsettled and clueless on how to restart my career. The career plans went on a backburner as I ended being the CEO of our home during 2020, navigating the family through the worst part of the pandemic with a lot of hope for the future.

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