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Published on: 12/24/2002
Last Visited: 12/24/2002
Carolyn Cartwright, SunTrust diversity vice president, agrees.She sees fiscal policy and retention initiatives as a package deal."It's a business imperative," she maintains.
When an employee leaves, the company must eat the cost of finding and training a new employee, human resources officials explain.If a company has a high turnover rate, the repercussions can be financially devastating.Diversityinc.com reports in their 3rd annual Business Case for Diversity that losing one employee can cost companies as much as four times that worker's annual salary. Successful retention programs make people of color feel like they are a vital part of the company by promoting, training, mentoring and fairly compensating them.
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Cartwright says the bank has no plans to slow its pace this year in Black recruiting."Last year we created a schedule for recruiting activities at HBCUs and attendance at the conferences.We're staying on course," she says.
In the end, the general consensus is that it comes down to a company's level of commitment.
Says Warrior, "Companies have to decide having a diverse workforce is something they want to have.Once they make that decision, recruiting, finding talent of people of color is not that difficult."