Samuel Lawrence, Executive Director at JLL.
Let’s discuss the new currency in today’s business world: diverse talent in a hybrid era. It’s not just about who you hire anymore; it’s about how you create an environment where diverse talent can thrive, even when they’re not all in the same room.
Clients in my sphere of work choose partners largely based on the talent we provide to deliver our solutions from the account leader to the on-site delivery teams. To quote a recent new client: “We can have all the solutions and great strategies in place, but the most important piece of the puzzle is the people we bring onboard to deliver this work. That will determine what results we get even more than our planning.”
We all know the world of work has changed dramatically, and the landscape of what is essential to do good business changes over time as we evolve. Cash, data, talent are all key determining factors in how companies will perform—or even survive over the next 10-20 years. According to research, over three-quarters of employees expect to work from home or remotely at least part of the time. This shift has made talent retention more challenging, but it has also opened up exciting possibilities for building diverse teams.
Why is diversity so crucial? Well, the numbers speak for themselves. Diverse companies are 70% more likely to capture new markets. They’re not just more innovative; they’re also more profitable. Companies with diverse management teams report higher innovation revenue by 19 percentage points compared to companies with below-average diversity scores.
But here is the crucial point—diversity isn’t just about race or gender. It’s about bringing together people from different backgrounds, educations, thoughts and experiences. In the hybrid era, this diversity of perspective becomes even more powerful.
Imagine you’re pitching to a potential client. Your team includes Sarah, who brings sustainable energy insights to finance from her home office in rural Maine. There’s Alex, combining tech and psychology expertise from a co-working space in Austin. And Raj, offering a global perspective from his desk in Mumbai. This diverse, distributed team can tackle problems from angles your competitors haven’t even considered.
Building and retaining this kind of diverse, top-tier talent in a hybrid world isn’t easy. So, what can you do to win the game?
First, rethink your talent strategy for the hybrid era and beyond. Research suggests that successful retention strategies will need to address employees’ expectations around flexibility, health and well-being and diversity and inclusion. It’s not just about offering remote work; it’s about creating a culture that supports and engages employees wherever they are.
Next, broaden your hiring horizons. The hybrid model allows you to tap into talent pools you couldn’t access before. Studies show that 67% of job seekers consider workplace diversity an important factor when considering employment opportunities. By embracing remote work, you can attract diverse candidates from different geographical areas and backgrounds.
Bonus tip: Create talent strategies that will outlive your career. Think about how you can create a robust pipeline of top talent through awareness, attraction and retention strategies. It is not just the job of HR and Talent Acquisition; this is every leader’s responsibility.
Investing in your people is critical, too. But in a hybrid world, this looks different. Think about personalized development plans that play to each person’s unique strengths and help them grow, whether they’re in the office or working remotely.
Leadership plays a huge role here. Your leaders need to be champions of both diversity and flexibility. They should actively seek out diverse viewpoints and create space for all voices to be heard, even in virtual settings. Research indicates that 63% of employees prioritize DEI programs when they are choosing companies to work for.
And let’s not forget about the power of collaboration in a hybrid world. When you’ve got a diverse, distributed team, you need to create intentional opportunities for interaction. Use technology to bring people together, encourage cross-pollination of ideas and create projects that bring together people with different skills and backgrounds.
If you are wondering, “How do I measure the impact of all this?” While it’s not always easy to quantify, there are ways to see the effects. Look at employee engagement scores, especially among remote workers. Track innovation metrics and the range of solutions your team develops for client problems. Keep an eye on your talent retention rates; research suggests that companies that don’t offer flexible work risk losing up to 39% of their workforce.
Ultimately, winning the talent game in the hybrid era isn’t just about hiring a diverse team or offering remote work options. It’s about creating an environment where diverse talents can thrive, where different perspectives are valued and where flexibility is baked into your culture.
So, when you’re thinking about your business strategy, put diverse talent and hybrid work at the top of your list. In today’s world, a team rich in diversity of background, education, thought and experience, supported by a flexible work model, isn’t just nice to have—it’s your secret weapon for winning and keeping business. Embrace it, nurture it and watch your business reach new levels of success. After all, in the talent game of the hybrid era, diversity and flexibility aren’t just winning moves—they’re the game changers.
Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?
