In recent years, diversity has become an important factor to consider in all industries, including in the executive search industry. The Energists is headquartered in Houston, Texas, one of the most diverse cities in the nation, and this is reflected in the way we operate as a company both internally and externally. Diversity and executive search go hand in hand. It is beneficial for the fostering of new ideas through different perspectives and it can also have many other benefits.
Diversity and Executive Search Benefits
A study conducted by McKinsey & Company revealed that companies with the most ethnically diverse executive teams are “33 percent more likely to outperform their peers on profitability.”¹ Not only this, but companies with higher gender diversity on executive teams had a “27 percent likelihood of outperforming fourth-quartile peers on longer-term value creation.”
Clearly, the value of diversity on executive teams cannot be overstated. Diversity fosters new ideas within a company and statistically improves the success of the business. Bringing new perspectives into a company is vitally important for the overall lifetime of a company, as the market is constantly changing and evolving. Diversity is important for executive search firms to consider, but how can executive search firms organically incorporate diversity into their hiring practices?
How The Energists Incorporate Diversity
At The Energists, diversity is one of our core values as a company. A strategy that we use to encourage organic diversity is administering cognitive and behavioral assessments to eliminate unconscious biases from the hiring process. By focusing on these analytical results, we are able to match candidates to positions that they are truly the best choice for.
Fostering Diversity in the Energy Industry
The energy industry spans many different sectors, including renewable energy, oil and gas, and power and utilities. The energy industry is The Energists’ niche, meaning we have a deep understanding of the industry and a widespread network of connections that allow us to consider all candidates. We consider all candidates that are put forth for a position that we have been tasked with filling in a bias-free process, allowing us to determine who will truly thrive in the given role.
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¹Source: Hunt, Dame Vivian; Yee, Lareina; Prince, Sara; and Dixon-Fyle, Sundiatu., ‘Delivering through diversity’ (January 18, 2018). McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/delivering-through-diversity