Embracing Diversity: How and Why With Help From AI

We all have blind spots. One of the scariest things is when we don’t even know what they are. Our unconscious biases play out in a very real way to the detriment of better hiring through diversity. There is hope: advances in artificial intelligence are bringing us solutions to face a new day forward – read on for the full infographic deep dive:

  • Embracing Diversity: The How & The Why With Help From AI

The 20 most diverse companies in the S&P 500 achieve higher long term profitability than their less-diverse counterparts

48% businesses aren’t on track to meet their diversity goals or have no goals at all

Why Embrace Diversity?

Business Executives Say Diversity

  • Is a corporate social responsibility: 58%
  • Provides varied and beneficial skillsets: 53%
  • Is an issue of fairness and morality: 47%
  • Boosts sales by better knowing customers: 43%
  • 37% of business executives* say legal compliance the primary reason they support diversity and inclusion initiatives
  • Diversity Improves Business Outcomes
  • Companies in the top 25% for diversity in leadership are more likely to
  • Gender Diversity
  • 21% outperform on profitability
  • 27% have superior value creation
  • Ethnic Diversity
  • 33% have industry-leading profitability
  • 35% have good financial performance
  • Companies in the bottom 25% for diversity in leadership are less likely to
  • 29% achieve above-average profitability

Diversity Means More Than Race & Gender
One of the best ways to get [different] ideas is to [bring together] people with diverse backgrounds and experiences . . . Diversity is particularly impactful in driving innovation and new ways of doing things.” — Michele Buck, CEO of Hershey Company

“D&I can bring innovation, creative thinking, and different perspectives that are essential in our growing businesses” — Vildan Stidham, the Divisional VP of Global Talent Acquisition at Abbott

“What consumers are now expecting is brands to do good for the world as well and to go beyond just providing a superior product. They want to know what your values are. Is it a diverse group of people behind this brand? Are you promoting equality of all types, whether it be gender or race, ethnicity, sexual or gender identity, ability, even age, and religion?” — Marc Pritchard, Chief Brand Officer at Procter & Gamble

“If you haven’t hired a team of people who are of color, female, and/or LGBT to actively turn over every stone, to scope out every nook and cranny, to pop out of every bush, to find every qualified underrepresented founder in this country, you’re going to miss out on a lot of money when the investment world gets it.” — Arlan Hamilton, Cofounder and CEO of Backstage Capital

By 2025, advancing gender equality in the workplace could add $12 trillion to global GDP

Recruiting Bias & The Role Of AI

Human Bias In Recruiting
On average, recruiters spend 7 seconds reviewing an individual resume — At that speed, bias is sure to impact their decision

  • Similarity Bias: Implicit bias that favors people who are similar to ourselves — either demographically or based on shared interests
  • Halo/Horns Effect: Tendency to assume our initial impressions of someone are correct — Whether that impression is good or bad
  • Contrast Effect: Tendency to exaggerate the qualification of whoever immediately follows a particularly weak candidate — and vice versa
  • Central Tendency Effect: Reluctance to rate someone too high or too low, fearing that doing so would be seen as biased by others

Bias In Recruiting Software
90% of enterprises and 68% of small businesses use applicant tracking systems — but recruiting software is not immune from bias

Boolean Search: Most recruiting software relies on keyword searches performed by recruiters
Recruiter Skill: Choosing a strong search query require training — and many search terms can reflect the recruiter’s biases

  • Resume Building: Search results reflect a candidate’s ability to write a resume that uses keywords, not their actual qualifications
  • Synonym Searching: Helps strengthen keyword search strategies and reduce some biases, but far from a perfect solution

Best Practices For Diverse Hiring
81% of HR Professionals say their current practices are average or worse

Goals: Set clear targets for improvement and track your progress — Focus on diversity of thought in addition to demographics

  • Training: Make diversity training standard and use it as an opportunity to listen to employees and learn how to improve
  • Outreach: Partner with outside organizations, schools, and colleges to help support the next generation of diverse candidates
  • Leadership: Make diversity a core value and ensure management and policies support inclusion at every level

In 2018, Amazon scrapped its state-of-the-art recruiting AI, after it taught itself to prefer male applicants 一 penalizing resumes that included “women” and all-female colleges

Removing Bias With AI

How AI Learns Human Bias

  • AI is trained by processing data and identifying patterns
  • If the data provided is biased, the results will be too
  • Amazon’s AI was trained by on 10 years of resumes and hiring decisions
  • The result? The AI learned the same bias as human recruiters
  • AI recognizes and exaggerates existing biases — which can help us learn to if we use the data correctly
  • Training AI Without Bias
  • Creating an unbiased AI starts with unbiased data
  • Collecting data from varied industries, jobs, and diverse candidates
  • Removing factors that contribute to bias like age, gender, and names
  • Adding more factors for consideration, like interests, traits, and skills
  • Considering how well a candidate and company fit from both perspectives
  • 50% of HR professionals are “not at all prepared” to for AI

AI Makes Diverse Recruiting Easy — With ThisWay Global

  • Increase the diversity of your talent pool
  • Instantly identify top qualified candidates
  • AI trained to remove bias from talent pool
  • Seamlessly integrate into any ATS, HCM, CRM
  • Increase ROI by matching all applicants to all jobs, not just one
  • Integrates with greenhouse, salesforce, oracle/taleo, icims, workday, ibm kenexa

“The only way you really see change is by helping to create it.” — Lena Waithe, Emmy Award winning writer, producer, and actress

Overcome Recruiting Bias So Your Business Can Thrive

Sources:
https://thiswayglobal.com
https://advisory.kpmg.us/articles/2018/hr-survey-2019.html
https://www.reuters.com/article/us-amazon-com-jobs-automation-insight/amazon-scraps-secret-ai-recruiting-tool-that-showed-bias-against-women-idUSKCN1MK08G
https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Documents/09-Diversity_and_Inclusion_Report.pdf
https://towardsdatascience.com/ai-often-adds-to-bias-in-recruiting-but-theres-a-new-approach-that-could-change-the-game-70d793abd92f
https://blog.ongig.com/recruiting-software/top-100-applicant-tracking-systems-in-2018
https://www.forbes.com/sites/pragyaagarwaleurope/2018/10/19/how-can-bias-during-interviews-affect-recruitment-in-your-organisation/#b3ffe741951a
https://www.hrdive.com/news/eye-tracking-study-shows-recruiters-look-at-resumes-for-7-seconds/541582
https://www.mckinsey.com/featured-insights/employment-and-growth/how-advancing-womens-equality-can-add-12-trillion-to-global-growth
https://www.forbes.com/sites/afdhelaziz/2019/07/16/the-power-of-purpose-how-procter-and-gamble-is-becoming-a-force-for-good-a-force-for-growth-pt1/#58a1661031c2
https://www.diversitybestpractices.com/news-articles/diversity-dialogue-vildan-stidham-divisional-vice-president-global-talent-acquisition
https://www.kornferry.com/institute/the-hershey-company-beyond-chocolate
https://www.mckinsey.com/business-functions/organization/our-insights/why-diversity-matters
https://www.wsj.com/articles/the-business-case-for-more-diversity-11572091200
https://blog.zoominfo.com/diversity-and-inclusion-quotes