Hired's 2023 Impact Report
"In our pursuit of efficient, equitable, and transparent hiring practices, we are committed to tackling wage inequality head-on. At this critical inflection point with Diversity, Equity, and Inclusion (DEI) in the workplace, it is essential to protect DEI as a core value and prevent its erosion.
Even in a tougher economy and with tighter budgets, we must assertively prioritize DEI and recognize the importance of preserving and promoting it. Why? DEI practices have gained widespread recognition for their profound impact on organizations of all sizes.
A 2021 McKinsey report revealed companies prioritizing racial and ethnic diversity were 36% more likely to achieve aboveaverage financial returns. By actively combating bias in hiring, companies create an inclusive environment and enhance their reputation among internal and external stakeholders.
One crucial element in addressing wage inequality is salary transparency. With it, companies empower their employees and promote fairness. Transparent salary practices provide employees with a clear understanding of their worth and contribute to closing the wage gap. Additionally, salary transparency helps mitigate potential biases and inequities within compensation structures.
By championing openness and fairness in compensation, we reinforce our commitment to DEI and create an environment where all employees feel valued and empowered. In this critical juncture, let us seize the opportunity to bridge gaps in opportunities and expectations. Through innovation and a steadfast dedication to DEI principles, let’s forge a path toward a more equitable future."
