Developing Diverse Leaders - In Conversation with Billy Dexter
Diversity. Equity. Inclusion. By now, these should be the norm for every company. For some, however, these are still merely buzzwords. That said, there are those in hiring positions who are working to transform the business world. As an executive search and leadership development executive with decades of experience in recruiting diverse talent, Billy Dexter is one of these positive change influencers.
We recently had the opportunity to chat with Billy about his experiences in working with Fortune 1000 organizations to implement DEI hiring practices.
Can you define for us why DEI is so important to the corporate world? What do you consider the most important advantages of embracing DEI to be? Do you see any disadvantages in not doing so?
“One of the most important aspects of what I do is assisting in the development of the next generation of diverse leaders. I am therefore passionate about helping companies implement diversity, equity, and inclusion practices.
“The concept of DEI often gets overcomplicated while it is quite simple in essence. Companies need to embrace diversity not only around race, gender, and ethnicity but also those created by cognitive and physical differences so that everyone has the chance to succeed. Going beyond that, I propose to my clients that they look outside of their own industry as many skills learned in other fields will translate to their own while at the same time bringing in fresh ideas. In fact, many studies have shown that having diverse employees leads to better performance, stronger corporate culture, higher talent retention, and increased profits. It’s more than just doing a good deed. DEI practices can actually improve the bottom line and solve a variety of business issues.
“The challenge is that many organizations have viewed DEI as a program on the outside of their culture, rather than as an integral part of their company vision and mission. Companies that have successfully implemented DEI practices have integrated it into their corporate culture. They show it in their principles, in how they express themselves, how they go about the day-to-day work, and especially in how they recruit, develop, and retain talent.
“Before a business incorporates DEI into their company DNA, they need to ask themselves why they are doing so. What are they hoping to gain? Is there a value beyond maintaining a good reputation? Most importantly, what are the consequences if they don’t embrace DEI?
“There are major advantages to developing and implementing corporate DEI practices. First, the country is increasingly diverse, and our employee base should reflect the communities in which we live. Your company will be stronger and more relevant when you have equal representation at all levels. You will be better able to attract and retain experienced talent with different backgrounds — people who will bring in different perspectives and new approaches.
“Next, when you look at the global market, Asia, Latin America, and Africa represent the majority of growth. Why is this important to DEI efforts? Because the workforce in these regions is comprised predominantly of People of Color. Understanding and respecting other cultures is crucial when you are doing business in other areas of the world.
“Moreover, given the “Great Resignation” of 2021 and the “Quiet Quitting” taking place currently we are in the midst of a workforce reset. Our current climate is one where there are many open positions at all levels and most people are looking for a better work environment and more balanced workload. As a result, companies need to understand what their prospective employees want. They then need to live up to those expectations in order for all to get the best out of their partnership.
“All of the data and statistics point to DEI happening whether companies embrace it or not. If you are still trying to figure out diversity, equity, and inclusion today, my advice is as follows: The DEI train is leaving the station. You can either get a ticket or stay on the platform.”
Thank you, Billy, for this encompassing overview of DEI and why it matters to the corporate world.
Billy is a leader in executive search and DEI advisory; he has guided high-profile clients in building diverse leadership teams and creating inclusive solutions for attracting and developing top talent. Known for his thought leadership, Billy frequently speaks on career advancement, networking, and board readiness, bringing a strategic approach to DEI initiatives that support both organizational goals and individual career growth.
Connect with Billy on LinkedIn.
