Three Roads to Equitable and Inclusive Talent Development

April 10, 2024

The future of work revolves around talent. But talent can be hard to source and retain. In 2023, 75% of employers in the US reported difficulty finding necessary talent, a 17-year high. At the same time, segments of the US population lack access to satisfying, supportive jobs.

BCG and Cara Plus (a division of the workforce development organization Cara Collective) examined the experiences of employers driven by business and social imperatives to make their hiring practices more equitable and inclusive. Three initiatives are making a difference:

• Widening Talent Pools. Justice-impacted job seekers have been overlooked, despite their qualifications and readiness to work. Fair-chance-hiring programs allow organizations to use this strong, largely untapped talent pool to meet critical talent needs.
• Reimagining Talent Systems. The gap between job requirements and the actual skills needed for a given role is growing, so a focus on capabilities over credentials—skills-based hiring—makes sense.
• Implementing Tailored Support. Frontline workers are an important part of the labor force, with distinct needs and preferences. Like desk workers, they seek fulfilling jobs and advancement opportunities, delivered in ways that fit their work environments.

Inclusive strategies can both strengthen the talent pool for employers and create a more sustainable, equitable job experience for millions of people in the US.