As 2021 comes to a close, employers throughout the country are responding to what commentators have called the “Great Resignation.” Many workers are experiencing exhaustion, work-related stress, and burnout, and are responding by simply leaving their jobs. As reported, four million Americans quit in July 2021 alone, and that number continues to rise.[1]
Employees of all backgrounds are experiencing these issues, but as this crisis continues, employers may be tempted to place Diversity, Equity and Inclusion (DE&I) efforts on the back burner. However, we suggest that businesses should do exactly the opposite, and continue their economic and social commitments to all DE&I programs and strategies. Indeed DE&I efforts have been proven to attract future candidates, and to increase retention among existing employees, which is now more important than ever before.
Business case for diversity, equity and inclusion
There is a strong business case that having a diverse workforce positively impacts a company’s revenue and profits. Companies with diverse management teams have been proven to boost revenue by 19%, and diverse companies enjoy 2.3 times more cash flow per employee. Companies that report the highest levels of racial diversity saw 15 times more sales revenue, compared to companies that report the lowest levels of such diversity among their employees. Senior executive teams have observed an 0.8% increase in earnings before interest and taxes when they have...
The issues of fraud and fraudulent billings continue to dominate national and local headlines. The state lost its federal Medicaid fraud unit funding for not aggressively pursuing falsified billin...