Benefits of being an equal opportunity employer

Here's one: More than 75% of candidates say having a diverse workforce is important

Benefits of being an equal opportunity employer

Being an equal opportunity employer comes with many benefits.

Perhaps the biggest one being the ability to tap into a vast pool of qualified applicants. That’s important for companies dedicated to promoting diversity, equity and inclusion (DEI). It can also attract top talent – 76% of employees say having a diverse workforce is important when evaluating companies, according to a 2021 Glassdoor study.

Read more: 5 things equal opportunity employers should know

Recruiting remains a top priority for employers during the Great Resignation, in which companies across the U.S. are experiencing historic turnover. In June, 4.2 million Americans quit their jobs, according to the U.S. Bureau of Labor Statistics, down slightly from 4.3 million in May, which declined only a hair from April, March and February. Since the beginning of 2021, roughly 73 million Americans have fled their positions.

Prompted by the COVID-19 pandemic to re-evaluate their priorities in life, employees have been heading for greener pastures, demanding higher salaries, better working conditions, improved work-life balance and more opportunities to advance their career. As a result, the scales have tipped in favor of labor, with employers having to bend over backward to attract and retain talent. To combat the nationwide staffing shortage and compete for talent, employers have had to increase their compensation and benefits packages beyond the traditional health care, dental, vision and 401(k) offers.

Another benefit of being an equal opportunity employer is likely seeing fewer incidents of workplace conflict. After all, many of these conflicts occur due to a lack of understanding of fair employment practices and ethics. Training leaders and employees on equal employment practices can help create a healthy work environment that aligns with the principles of the company.

Employers also lessen the risk of formal complaints and allegations of discrimination and harassment when fewer workplace conflicts and fair employment practices are in place. Reduced legal fees, costs and staff time spent on investigating workplace issues are also measurable benefits seen from effective equal employment opportunity policies.

Here are four other things equal opportunity employers should know.

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