Diversity attracts ideas, and ideas bring innovation cops, ultimately enhancing the profit base for companies that embrace diversity! Over the years, we have noticed that a vibrant culture and a culture with anti-discrimination policies experience the true essence of progress.
Therefore, we have a list of the top ten healthcare companies that embrace diversity and rewriting the narrative of inclusivity and diversity. These healthcare companies aren’t just fostering diverse recruitment and non-discriminatory hiring policies but are also reshaping norms and proving that embracing diversity isn’t just a checkbox.
So, let’s begin.
What Do the Statistics Say About Companies that Embrace Diversity?
Did you know that current statistics for diversity in the workplace assess that:
- The groups now seen as minorities may transit to a majority label by 2045.
- Moreover, Gen Z makes up 48 per cent of the ethnic or racial minorities.
- Diverse companies have a competitive edge of 19 per cent in revenue generation.
- Additionally, companies that embrace diversity enjoy 2.5 times more cash flow per employee.
After reading these statistics, it is genuine to think that equality, equity, inclusive culture, and unbiased recruitment give a competitive edge to companies. While true to its cause, the persistent scenarios are pretty divergent. Around 57% of employees wish their companies should encompass diversity and inclusion policies. However, the future looks promising as more and more companies strive towards diverse hiring practices and diversity training.
What Does Diversity Mean?
There is no limit to race or ethnicity in diversity. However, it also encompasses gender, sexual orientation, language, religion, abilities, age, professional background, educational background, and socioeconomic background.
Diversity recruitment means the company holds an equal opportunity employer and strides towards diversity metrics. Moreover, a diverse culture welcomes flexible work arrangements, cultural celebrations, diversity events, recognition of differences, accessibility initiatives, and more. Companies that embrace diversity are on more beneficial grounds than those opting out of it. Moreover, companies that embrace diversity experience 35% greater financial returns than their non-inclusive counterparts.
Why is Diversity Necessary in the Workplace? What is the Distinctive Advantage for the Healthcare Companies that Embrace Diversity?
Most companies encounter diverse client bases from around the globe. They have a bunch of diverse clients with a combination of religion, race, social status, ethnicity, and other characteristics.
Now imagine this situation. Ethnic and racial cultures surround the area where your healthcare firm operates. As a healthcare organization directed towards a patient-centric approach, it’s your responsibility to deliver the optimal care to every individual. Is it more convenient if the group you are treating gets treated by a physician of their background? It will help improve communication and understanding of the condition and thus enhance reliability and trust factors for the patients.
From a professional’s perspective, they can also deliver better patient care and convert them into long-term customers. Thus, companies that embrace diversity experience better results. That’s why diversity has become a priority in around 87% of companies globally.
Additionally, diversity in the workplace is not confined to these benefits only. There are several others, too. Let’s state them below:
Increasing Access to More Talent
In a non-diverse work culture, the talent gets confined to people of similar backgrounds. In a diversity and inclusion setting, individuals from various cultures, locations, and experiences generate a more powerful healthcare outcome. However, talented individuals prefer going to firms where their norms and individuality are selected.
Better Creativity and Problem-solving Opportunities
More diverse groups mean more thinking minds and different solutions to problems. When additional thinking capabilities combine, the results get diverse and better. Moreover, people from the same background intend to be better friends and thus contribute towards better workplace collaboration.
Increased Profit Base
As mentioned earlier, a diverse culture leads to an enhanced profit base and a revenue uplift of 19 per cent. Moreover, according to a 2017 McKinsey report, if you promote diversity, the bottom-line benefits as well. Furthermore, companies with a culture moving forward towards gender diversity tend to attract 21 percent above-average profit.
Diversity Impacts Company Reputation
Statistics say that 1 in 3 candidates will not apply to a firm that does not support diversity. This figure says a lot about how diversity impacts a company’s reputation. Moreover, healthcare companies that embrace diversity are often perceived as better employers.
Why not opt for a diverse recruiting strategy when diversity benefits your firm’s reputation?
Who are the Top Ten Healthcare Companies that Embrace Diversity in the Workplace
Here is a list of the top ten healthcare companies that embrace diversity in their recruitment and work culture and have gained its remarkable benefits:
University of Texas Southwestern Medical Center
According to Forbes, the University of Texas Southwestern Medical Center tops the list of healthcare companies that embrace diversity.
UT Southwestern’s vision revolves around being a role model of how diversity and inclusion can integrate into a firm’s culture. Utilizing their individuality in education, healthcare, and research, they want to implement cultural competency to reach their full potential and maximise it. They represent a workforce in 2022 as:
- 69.7% female and 30.3% males
- White people make up 36.3% of the workforce. African Americans were second on this list, making around 21.9%. Additionally, multiracial people make up 2.4% and Asians 20.8%
ChristianaCare ranks second among the top healthcare companies that embrace diversity in the Forbes list. They tend to bring diverse histories, skills, and characteristics to their corporate culture. They believe integrating inclusion and diversity fosters advancing transformation in treating patients and delivering care. Cultural Competency is among the priorities for the organization that helps promote the ability of the healthcare setups to respond effectively to the cultural and language barriers.
University of Utah Health Care
The University of Utah Health Care ranks itself third in the Forbes list of companies embracing diversity. They are directed toward research and eliminate systemic racism, sexism, and bias that lead to health disparities and other grave issues. Moreover, they are determining policies and actions to promote the University of Utah’s commitment to equity, diversity, and inclusion. They have a core belief that addressing these issues leads to better and improved outcomes for patients.
Bayer has gained a profound score from the Human Rights Campaign Foundation’s Corporate Equality Index. However, the Corporate Equality Index, which scans an organization’s LGBTQ+ equality practices, has marked Bayers as offering equality.
Additionally, Bayers fosters equal opportunities for women’s rights and supports unbiased recruitment. Bayer affiliates with the new Women in STEM leadership program that promotes learning and development in mentorship and leadership diversity. Moreover, this program supports workplace diversity and flexible work arrangements in around 12 countries.
Regarding women’s workplace equality, read our blog on Navigating Gender Bias In The Workplace. It will guide the effective strategies for women to succeed in healthcare facilities.
Standing just below two points Bayers in the list, Gilead Sciences is a US-based pharmaceutical industry. It is known as the best place to work for LGBTQ+ equality. The Human Rights Campaign Foundation honored it with a 100% rating. The firm aims to promote 200 Black Americans and enhance Hispanic representation among 15% of the US workforce, female leadership promotion to 37%, and leadership roles to 3.7%.
Wayne Health Cares
Wayne Health’s family medicine providers and primary care physicians aim to encourage top-notch practices for diversity metrics and recognition of differences. They foster accommodation for All criteria in their core values and follow diverse hiring practices.
Additionally, Wayne Health’s Family Medicine providers and physicians keep up with the firm’s core values of collaboration, excellence, diversity, and inclusion. Altogether, it helps promote Wayne Health’s patient-centric care delivery approach and integrates high-end services.
Thermo Fisher Scientific
A renowned name in the industry, Thermo Fisher Scientific heads onto its specific diversity and inclusion policies. It is the world leader in serving sciences and is directed towards promoting world health, safety, and cleanliness. Additionally, they work towards transparent hiring policies and inclusion policies that help them gain momentum toward innovation and advancements.
Thermo Fisher Scientific’s D&I initiatives encourage employees to share their views and perspectives openly. It nourishes an inclusive environment where trust and credibility become core values, and everyone feels they belong.
Making its position in the Forbes list of companies that embrace diversity, Cincinnati Children’s believes that ‘We are better together.’ They nurture a work environment where everyone feels welcomed, valued, and respected. Additionally, they encore this mission in their personal and institutional journey with consistent efforts and due diligence.
Moreover, they believe that nourishing DEI culture helps strengthen care, educational mission, and research.
UCLA Health has also placed its name among the top Forbes list of healthcare companies that embrace diversity. They believe equity is a fundamental principle reaffirming each part of the organization. Moreover, promoting equity-focused principles fosters steps like:
- Designing and building innovative anti-racism practices for their people.
- Help promote patient accessibility and cultural integrity and ensure quality care.
- Celebrating differences and investing in the community through services, education, and advocacy.
Having a profound rating, Sanofi has enlisted itself just a few points below Bayer in Alva’s DEI ranking list. It has launched a state-of-the-art Diversity, Equity & Inclusion (DE&I) Board that promotes outside advisers. Sanofi believes these initiatives will help enhance the talent base and foster faster growth in their journey. The DE&I Bord’s prime objective is to ensure that diversity and inclusion policies are rightly executed.
After going through this list, are you intrigued to know about healthcare recruitment as a profession? Read our blog on Is Healthcare Recruiting A Good Career? You will find all your answers here.
To conclude, this blog guides through the list of companies that embrace diversity in their hiring practices. It shows the advantages of diversity hiring and how it benefits a healthcare organization.
If you are interested in diversity hiring or looking for platforms that support diverse hiring practices, then HealthCareTalentLink (HCTL) is there for you. Here are five reasons why healthcare recruiters put their trust in us for an optimal job posting site.