Commitment Of Senior Management Key To Retaining Minority Employees.

Corporate executives and minority professionals agree that, in order to retain minority employees, company management needs to be strongly committed to diversity and link corporate diversity objectives to the overall business strategy, according to a new Korn/Ferry International study, Best Practices for Diversity: Corporate & Candidate Perspectives.

Conducted via the Internet in October, the Korn/Ferry study was designed to capture the views of both managers and minority employees regarding best practices in today’s corporate efforts to achieve workforce diversity. Respondents were asked for their views on effective corporate programs and “attributes” for both attracting and retaining minority employees; techniques for measuring and rewarding diversity success, and plans for new programs. Responses were gathered from 35 executives of major corporations and 98 African American, Asian American, and Latino/Hispanic professionals nationwide.

The commitment of senior management was cited as an important corporate attribute in retaining minority employees by 85 percent of executives surveyed and 82 percent of professionals; the next most frequently mentioned attribute was “making diversity an integral part of the business strategy,” which was cited by 66 percent of executives and 62 percent of professionals.

“The importance attached to senior management commitment and business strategy strongly indicates that management cannot merely pay lip service to their diversity objectives,” said Gilroye A. Griffin, Jr., managing director, Korn/Ferry Diversity Practice. “Rather, they must demonstrate an organizational focus on diversity that is tangible through its linkage to the organization’s overall strategic direction.”

Study Reveals Disconnects

“While these two audiences agree on the importance of certain key corporate attributes in achieving diversity goals, our survey also revealed several significant ‘disconnects,'” Mr. Griffin said. “In particular, corporate executives tend to rate the effectiveness of diversity programs much more highly than do minority professionals, and the two groups do not consistently agree on what the most effective programs are.”

KEY FINDINGS

Disagreement on Effectiveness of Programs, Organizations

* Corporate executives say that “relationships with minority oriented organizations” are the most effective program for attracting minority employees (cited by 91 percent), but just 61 percent of professionals view such programs as effective. Professionals believe that internships (cited by 65 percent) are most effective in attracting minority employees.

* Skills training is considered by corporate managers to be the most effective program to retain minority employees (cited by 98 percent), but just 70 percent of professionals view such programs as effective. Eighty percent of managers believe that mentoring programs are effective programs for retention — but just 57 percent of professionals agree.

* Managers and professionals also strongly disagree on how effective larger corporations are, in general, in achieving diversity goals.

* While 57 percent of managers believe large organizations are generally effective in achieving diversity, just 38 percent of professionals agree. Similarly, 74 percent of managers believe their own organization has been effective in achieving diversity, while just 48 percent of professionals agree.

“These findings suggest that large corporations need to do better in both understanding and addressing the expectations — and the experiences — of minority employees in their diversity efforts,” Mr. Griffin said.

Incentives Well Regarded, But Not Widely Used

The survey revealed that specific incentives to achieve diversity goals are well regarded, but not widely used.

* Corporate managers said that effective incentives include reward or recognition programs (cited by 77 percent), bonuses (66 percent), and pay increases (58 percent).

— Reward and recognition programs are actually used by just 43 percent of companies, bonuses by 29 percent, and pay increases by 26 percent.

For more information at http://www.kornferry.com