How do Employee Resource Groups help drive new business?
To help your company utilize Employee Resource Groups to help drive new business, we asked HR experts and business leaders this question for their best tips. From talent and leadership development to proving a sense of belonging, there are several great ways Employee Resource Groups can help drive new business.
Here are ten ways Employee Resource Groups can help drive new business:
- Talent And Leadership Development
- Attract Top Candidates
- Authentic Bonds
- Company Culture
- Higher Retention Rates
- Provide A Sense Of Belonging
- It Makes You An Employer Of Choice
- Develop A World-class Workforce
- Connect Companies With Local Communities
One way our ERGs help drive new business is by referring their friends and former co-workers to our roles. We encourage our ERG members to actively network in the community and to seek out talent that they believe would not only be a great fit for an open role at Freedom but also someone who would add nicely to our culture.
Heather Marcom, Freedom Financial Network
Talent And Leadership Development
As part of our continued commitment to diversity and inclusion in our workplace, we are in the process of rolling out an ERG initiative that will include formalized affinity groups. Currently, we have several informal affinity groups across many of our locations. Today, we are looking for a way to formalize existing groups and make them more widely accessible, as well as open the door to establishing new groups within our organization. We are looking forward to examining and evaluating how having formal ERGs in place could lead to enhanced productivity, including helping talent and leadership development. Embracing our diverse culture also means unique perspectives on ideas, solutions, and new product development for our current and future clients.
Alex Arkarakas, KUBRA
Attract Top Candidates
Talented people tend to attract other talented people. As Paradox has grown, we’ve experienced that firsthand. By forming Employee Resource Groups and inviting your highest-potential people to be a part of them, these ERGs can help attract other top candidates. When you have a company full of talented people, the organization can become more efficient, better serve customers, and drive the business forward.
Jessica Rush, Paradox
There is something special that arises when employees come together to learn, connect, and support each other. Employee Resource Groups allow that to happen more naturally versus having a sanctioned company organized group led by HR or executives. The spirit of the group is more authentic and creates a tighter bond between peers. When employees feel connected and have true work relationships, both quality of work and customer satisfaction increase as a result.
Jenn Christie, Markitors
Employee Resource Groups (ERGs) are voluntary, employee-led associations where team members join together in light of common interests, backgrounds, or demographics. Being in the business of recruiting, I know how important company culture fit is when finding a job. When employees feel a sense of belonging in their workplace, they are encouraged to network, develop leadership skills, and be engaged in the work they do. This, in turn, leads to productivity and retention, which helps drive new business.
Jon Schneider, Recruiterie
Higher Retention Rates
Organizations benefit from Employee Resource Groups in a variety of ways. They identify internal leaders and assist them in their development. Higher retention rates are the result of them. Internal events, panels, and other activities are used to educate employees, including senior leadership. The groups exist to provide support and assistance with personal or professional development and provide a safe environment in which employees can bring their whole selves to the table. Allies may be invited to join Employee Resource Groups to assist their coworkers. Other advantages include the training of future leaders, increased employee engagement, and a broader market reach.
Sylvia Kang, Mira
Provide A Sense Of Belonging
Employee Resource Groups provide a connection and network for employees to engage with peers who share similar experiences or lifestyles. The more inclusive resource groups are, the more ability businesses will have in attracting diverse talent. Recognizing there are differences at work and providing an avenue to celebrate those differences bring a sense of value and belonging for employees. When employees feel valued, they will be more productive and feel happy at work. The foundation of business expansion relies heavily on the employee’s performance and engagement. Employees thrive in workplace environments when they feel a sense of belonging. And, it’s thriving employees who help businesses grow and expand.
LaShawn Davis, The HR Plug
It Makes You An Employer Of Choice
Employee Resource Groups that have the full support and encouragement from the executives can be powerful to instill commitment, loyalty, and brand awareness from not just the employee but also their friends and family. ERGs demonstrate shared values between the company, management, and staff. Shared values are required for successful long-term partnerships like employee/employer relationships. Plus, they spark innovation because they create a safe space for employees in certain demographics like LGBTQI, Hispanics, Asians, Neurodiversity, Women, and African Americans.
Katharine Halpin, The Halpin Companies Inc.
Develop A World-class Workforce
Employee Resource Groups (ERGs) are a great conduit for professional development and upward mobility. ERGs provide integral opportunities for employees to learn, network, and grow as well-rounded employees. Through these groups, many competitive advantages can be gained that will, in turn, impact and drive business. ERGs not only improve upon a company’s culture keeping great employees loyal, but they serve to educate and connect those who participate with like-minded professionals and other organizations. These relationships, in turn, positively impact business. Whether it is the contacts that are made that initiate new opportunities or the improvement in workplace conditions and opportunities to learn and grow; ERGs create a more vibrant workforce, and in doing so, positively impact the bottom line.
Tyler Butler, 11Eleven Consulting
Connect Companies With Local Communities
The impact of corporate social responsibility on customer’s buying decisions is continuously increasing. Resource groups built around specific causes increase the recognition of the company by audiences involved in those matters. A company championing people challenged in a certain way may signalize inclusivity. That often attracts customers and business partners that share such values.
Michael Sena, Senacea