Diverse Talent Survey Reveals Key Recruiting Strategy Insights

What 634 professionals across a variety of backgrounds and identities had to say should get HR re-evaluating their organization’s approach to talent acquisition.

In a presentation during the 2024 online HR Technology Conference, Anastasia Rab, enterprise client director for the DEIB business suite provider PowerToFly, presented some eye-opening findings from the company’s latest What Diverse Talent Wants Survey.

How Diverse Talent Is Feeling

When it comes to developing more effective talent acquisition strategies that attract, engage and retain top performers, consider that:

• A lot more people may be looking to jump ship than you think. Fifty-nine percent of employed workers said they’re actively considering quitting their jobs (in 2023, it was 49%). That’s encouraging if you’re looking to recruit outside top talent, but troubling news if there’s that much dissatisfaction in your organization.
• Job insecurity is driving dissatisfaction. Sixty percent of men, 43% of women and — worst of all — 0% of trans and non-binary workers reported feeling secure about the status of their jobs. This is despite more than three out of four (76%) respondents identifying as either somewhat or very engaged with their work. Sixty percent are concerned that AI technology could lead to job loss, burnout and stress.
• Flexible work arrangements attract talent. Companies that prioritize flexibility will be better positioned to attract and retain a competitive workforce. More than three out of 10 (32%) of respondents were somewhat or very dissatisfied with their work-life balance, 70% of primary caregivers want more flexible scheduling and an overwhelming majority (91%) of workers would leave their current job for one with greater flexibility.
• Pay transparency is a thing. Nearly 80% of all respondents, and notably 87% of LGBTQIA+ respondents, want to see it. Part of what could be driving that is half of all diverse talent is somewhat or very dissatisfied with their salary.
• Growth is a powerful talent magnet. These majorities are impossible to ignore: 91% of respondents want learning opportunities at work and 94% would leave their current job for one with better professional development opportunities.

Upskilling Interests

Rab highlighted the importance of providing clear career paths and leadership development programs to recruit and retain diverse talent. Upskilling — especially for diverse talent — will be necessary to future-proof your organization, she said.

“PowerToFly recently did another analysis that showed that we are moving into a skills-based economy in 2024 and beyond. … Ninety percent of the global population will need new skills by 2030, 12 million occupational transitions will occur by 2030. Nine out of 10 executives are looking to use skills as a way to define work, deploy talent and manage careers,” Rab commented.

The skills that employees most want to develop this year, according to the What Diverse Talent Wants Survey:

• AI literacy (57%)
• Project management (47%)
• Data analysis and visualization (44%)
• Strategic planning (35%), and
• Social and emotional intelligence (33%).

Implications for Talent Acquisition

In addition to investing in and highlighting learning and development, mentorship initiatives and education stipends, PowerToFly’s research suggests the need for HR to consider revamping talent acquisition strategies by:

• Promoting work-life balance and offering flexible work arrangements whenever possible. Train your managers on how to supervise a remote team, expand the use of remote collaboration tools and consider setting a limited mandatory workday window when everyone is on the clock so your teams are accessible for time-sensitive information. Next, emphasize your company’s commitment to work-life balance in your job postings and throughout the recruitment process.
• Trying salary transparency. Be transparent about your company’s compensation and benefits. Aligning them with what’s out there in your local market builds trust.
• Rethinking your candidate experience. With almost 60% of employed workers actively job hunting, your application process is critical. Yet 39% of respondents felt employers used “ghost” job postings to falsely build candidate pipelines and 59% reported being ghosted by a hiring manager. Improving the candidate experience through inclusive hiring practices, personalized communication and eliminating automated rejections can significantly improve your employer brand among diverse talent pools.
• Exploring targeted recruiting outreach. This may involve partnering with diversity-focused organizations and attending job fairs that cater to underrepresented groups.