The Role Of Executive Search In Diversity & Inclusion

D&I (Diversity and Inclusion) is still a hot topic. It's a matter of regulatory compliance or corporate social responsibility for some businesses. Others, understandably, see it as a source of competitive advantage. According to research, companies with more diversity outperform their competition.

Diversity and inclusion is firmly on the boardroom agenda, and corporations are actively striving to enhance equality in their recruiting procedures, which is probably unsurprising. So, how important are executive search firms?

The Global Survey's Background

Invenias set out to determine what role, if any, executive search had to play in fostering greater diversity in recruiting as companies seek a more diverse workforce. Invenias conducted a global poll of executive search professionals in collaboration with MIX Diversity Developers, a boutique consultancy firm specializing in D&I, to determine the influence that diversity is likely to have on their working methods and business strategies in the future.

D&I appears to be a key agenda item, according to preliminary findings from more than 300 respondents, with over two-thirds of respondents claiming that it will be 'very essential' to their clients in 2019. The study goes on to examine into the issues that search firms face when it comes to diversity, as well as potential solutions for their clients.

Findings In The Early Stages

1.

Clients of executive search firms place a high value on diversity and inclusion, and more than half of those polled believe they have a role to play in advising clients to select a diverse short list.

Not only did respondents say that diversity and inclusion is a top priority for their clients, but they also said that over half of them are getting specific requests for diverse long-lists (whether on the record or off). For example, 51 percent of respondents were asked to create a long list with a 50:50 gender split. After the long list was supplied, more than half of the respondents thought they had a role to play in advising their client on how to create a short list that was reflective enough. Given how tough these conversations with clients can be, this is a solid step in the right direction.

2.

Although it is still more difficult for female and BAME (Black, Asian, Minority Ethnic) applicants to be nominated to executive boards and senior management positions, attitudes are shifting.

If firms are to move towards an inclusive workforce, they must develop long-term strategy to address the lack of diversity. There is still a dearth of diversity in business, notably at the board level. Nearly two-thirds of those polled said it is now more difficult for a woman to be selected to a position on an executive board or in senior management, but that views are improving. Nearly 40% of those polled agreed that this was the case with BAME candidates, however 30% thought attitudes had still to alter.

3.

Inclusion is hampered by unconscious bias and a scarcity of diverse candidates.

The causes for this are numerous, with over 55% of respondents saying that unconscious bias is to blame for the difficulty in choosing diverse individuals. This allows executive search consultants to challenge short-listing decisions and serve as a trusted advisor to their clients on inclusive recruitment procedures. Furthermore, a whopping 46% of respondents believe that a lack of diverse applicants is to blame for the lack of diverse C-Suite appointments, and executive search firms can have a direct impact on this figure.

4.

Better diversity and inclusion will not happen by chance; specific practices, interventions, and checks may be required to assure greater equity.

The overarching question for executive search experts will be how they can assist their clients in promoting diversity and inclusive hiring procedures. The vast majority of those polled believed that cultivating diverse longlists would be easier if clients were more open to candidates from different industry sectors (65%), putting less emphasis on proven career experience and instead looking for candidates with relevant skills and underlying competencies. This will necessitate a cultural shift. Getting clients out of their comfortable comfort zone, as one respondent put it, is a struggle.

In the drive for a more diverse workforce, it is clear that a number of initiatives are gaining traction. This included using gender neutral language in job advertisements and descriptions (which more than half of those surveyed already do); avoiding unconscious bias (which more than a third of those surveyed already do); and using CVs that have been stripped of any names or clues as to ethnicity and gender (which more than a third of those surveyed already do) (with a third of those surveyed already employing this method).

5.

To better serve their clients, executive search firms are expanding their Diversity & Inclusion expertise.

Over 80% of people polled want diversity in the interview process, and training on unconscious bias and inclusive recruitment practices is becoming more common, it's obvious that certain executive search firms are leveraging best practices to drive diversity. As part of the tendering process, additional search firms will be asked about their own D&I credentials (39 percent ).

6.

Despite the difficulties, executive search firms see a lot of potential.

D&I provides executive search specialists with a variety of opportunities, ranging from championing emerging leaders to the ability to drive genuine change in their customers' businesses. Some companies view their capacity to consult and advise customers on less obvious options as a competitive advantage, even going so far as to offer advice on how to locate, attract, and keep diverse talent. 'Diversity makes businesses more successful,' as one responder put it bluntly. Making our clients more successful is our largest potential.'