4
There are other benefits common to most untapped talent pools. Hiring workers from these populations generally come with tax benefits and other
financial support to organizations, from both the Federal government as well as state governments, as well as local/municipal governments in some
areas. Untapped talent groups also have existing communities of support organizations focused on providing employer resources to organizations
looking to engage with these populations, and positioned to form partnerships and build talent pipelines.
While more difficult to quantify, the value of engaging with untapped
talent pools as a source of community goodwill shouldn't be
overlooked. Despite goodwill being inherently intangible as a
benefit, case studies have proven that organizations that build
reputations for working with one or more of these groups can enjoy
benefits including becoming an employer of preference in their area
(further expanding and raising the quality of their available talent
pool), increased revenues from the families and friends of those who
are a member of untapped talent pools, and access to partnerships
with other organizations who work with the same populations.
Providing opportunities to underserved populations isn't just the right thing to do, it's also of major benefit to organizations themselves. Research
has shown that diverse organizations are 35% more likely to financially outperform their competitors, and organizations with diverse cultures also
tend to have more productive, more engaged, and more satisfied employees
1
.
Organizations may not be able to effectively engage with all underserved talent groups at once, however every organization can realize value from
engaging with untapped talent. Despite some beliefs, establishing a formal program for engaging with untapped talent does not need to be 'redone'
for every specific population—there are common principles that ensure success with unconventional talent pools. Untapped talent groups are also
not homogeneous, and individuals have complex, intersectional identities; while employers may target a specific group of interest to employ what
is important is that organizations establish truly inclusive processes that remove barriers for the employment of all groups. By embedding inclusivity
in organizational practice, businesses open to door to fully equitable workplaces.
1 https://www.mckinsey.com/~/media/mckinsey/business%20functions/organization/our%20insights/delivering%20through%20diversity/delivering-through-diversity_full-report.ashx
Diverse organizations are
35% more likely to financially
outperform their competitors 
1
