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Lack of diversity, inclusion is factor in employee turnover

March 03, 2015

A survey of executives by Korn/Ferry International Inc. (NYSE: KFY) found that although most respondents said their organizations have diversity and inclusion programs in place, they also reported a lack of attention on diversity and inclusion contributes to employee turnover.

Of executives surveyed, 70% said they have diversity and inclusion programs in place, but 84% reported a lack of attention on diversity and inclusion contributes to employee turnover. And while 95% agreed culture of diversity and inclusion contributes to innovation, 42% believe there is an element of unconscious bias in their workforce when it comes to diverse backgrounds such as religion, race, gender or sexual preference.

“Clearly companies would do well to ensure the energy they are putting behind diversity programs are indeed addressing the reduction of turnover,” said Korn Ferry Senior Partner Andrés Tapia. “The right programs, such as those that focus on unconscious bias and cross-cultural agility, do hit the bull’s-eye in terms of root causes driving turnover, but the wrong ones can be costly energy drains with little impact on the very thing — retention — that executives believe they should address.”

Korn Ferry conducted the online survey from Jan. 27 through Feb. 2, 2015. There were nearly 700 responses.