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Newsletter #13 April 3, 2018 |
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What's the Real Value of Diversity?
Most recruiters and HR professionals recognize that improving diversity and inclusivity in the workforce is a positive. With increased competition for good job candidates, diversity has become a hot topic. It’s easy to understand that limiting the pool of candidates means fewer options and missed opportunities, but there are other reasons why the people who represent your organization should resemble the communities where you do business.
Women represent 47 percent of the labor force in the U.S. In Georgia, 41.5 percent of the labor force is non-white, according to 2010 census data. Customers prefer to do business with companies who hire employees that look like them and are involved with them – people they know. Ongoing research by McKinsey & Company makes some direct correlations between diversity and company performance:
- Companies in the top quartile for gender diversity are 15 percent more likely to have above average financial returns.
- Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above average for their industry.
Building an inclusive workplace requires more than simply “embracing diversity” as a concept or the “right thing to do.” Glassdoor.com research indicates that employers should hire for diversity and manage for inclusion to ensure continued access to the best talent and to enhance employee retention.
Mike McCurdy offers more insights for building a diverse and inclusive organization in a new post in the GEA blog. Read more about the benefits of diversity and tips to improve hiring diversity and inclusiveness in your organization. |
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| Sources:
Hunt, Vivian, Why Diversity Matters, McKinsey.com, January 2015.
Guide to Diversity and Inclusion in the Workplace, Glassdoor.com, March 2017.
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| | | Conference Preview: Alyssa Peters and Mike McCurdy
Mike McCurdy and Alyssa Peters discuss the upcoming GEA Spring Conference. Alyssa provides an overview of key issues for HR that she will discuss in her conference presentation and Mike talks about some of the other speakers at the event.
There's still time to register and attend the Savannah Conference!
The GEA Spring Conference has been approved for 10 HRCI Recertification Hours
*The use of the HRCI seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval. |
| | | Is DOL's New Self-Audit Program
a Win-Win?
The Wage and Hour Division (WHD) of the U.S. Department of Labor recently announced the pending implementation of a program to provide employers with a voluntary opportunity to correct FLSA minimum wage and overtime errors. The Payroll Audit Independent Determination (PAID) program allows employers to conduct an internal audit to determine if there are violations and then request participation in the PAID program. Under the program, the employer will pay all back wages due, but no liquidated damages or civil money penalties.
There are still unanswered questions about the program, according to Constangy, Brooks, Smith, and Prophete, LLP attorney Jim Coleman. WHD has not addressed how back wage payments to former employees must be handled. In addition, participation in the program does not preempt employees from opting out of program payments to pursue litigation if they believe that FLSA violations have occurred.
The PAID program is complex and employers will want to carefully consider whether the benefits of the program outweigh the negatives. Learn more about the program in Jim Coleman’s article in the GEA blog.
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Georgia Employers' Association |
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