Actionable steps for making diverse hires
Actionable steps to help VC-backed companies make a diverse hire.
DEI works. From stronger talent acquisition and retention to greater productivity and profitability, diverse teams have a scaling edge both in the short-term and long-run. But, despite the myriad benefits, some VC-backed companies struggle to make diverse hires. For example, 63% of AlbionVC portfolio companies’ female representation in senior management is below the industry standard (29% vs EU benchmark of 34%) and ethnic minorities only account for 12% of senior management positions (UK population is 18%).
Drawing on the expertise of a range of DEI experts, we’ve put together a set of actionable steps that will help you incorporate DEI along the hiring process and improve your chances of making a game-changing, diverse hire.
Pre-search
During the search
Post-search
Improving DEI outside the hiring process
DEI is not just about hiring - it's about the entire employee experience. The benefits of diversity can be felt year-round and VC-backed companies should implement measures that embed DEI into their culture (i.e. regularly DEI training and talks), communication (i.e. Slack channels dedicated to culture and belonging) and community (i.e. partnering with diversity-focused organisations like Muslamic Makers, Code First Girls and The Entrepreneurial Refugee Network (TERN).
In addition, using metrics, tools and competencies to analyse your DEI on a regular basis will help keep yourself accountable on DEI and track your progress across various processes - from hiring and promotions to customer satisfaction and GTM success.
To improve your DEI, check out AlbionVC’s hiring playbook as well as these core tools: checklist, our network of DEI recruiters to tap into and how to keep your search partner accountable.
Contributors
- Hatty Cadman, Director, MBS Group
- Ian Coyne, Executive Director, Global Information and Intelligence, Coulter Partners
- Ned Cummings, Head of Venture Capital & High Growth, Nurole
- Deborah Okenla, Founder and CEO, YSYS
- Druthers Search - Kiri O’Brien, Co-founder & Director
- The Up Group - Lydia Shepherd, Director
- Altima - Rebecca Jones, Chief of Staff to the CEO and Head of Partnerships, on behalf of Altima
- Kate Pljaskovova, CEO & Founder at Fair HQ
How are you improving your DEI?
Are you happy to talk about your DEI journey? We’d love to share your learnings and best practices with the AlbionVC start-ups.
