You’ve hit a slump: Your new business funnel is growing thin. The company needs new customers to thrive, but what can you do to expand your reach to untapped markets that you haven’t tried?
What about asking your employee-resource groups for insights? Group members are subject-matter experts when it comes to navigating the key cultural nuances that influence sales and your company’s overall performance.
In Ways to Use Employee-Resource Groups, Manny Fernandez, now retired director of diversity at JCPenney (No. 35 in The DiversityInc Top 50 Companies for Diversity), says diversity and inclusion play a vital role in generating new and sustainable business. “It’s about our associates making sure that every associate has a voice and an opportunity to be heard, valued and engaged, that we truly understand who our customer is … and then it’s about performance,” he explains.
The retailer found growing success when it used its employee-resource groups to understand its Asian customers; they picked up market share and gained customer loyalty.
What other innovative strategies can you learn to use your employee groups to increase your business goals? Jim Norman, vice president of talent acquisition, diversity and inclusion for Kraft Foods (No. 9) and Tim Stiles, tax partner for KPMG (No. 29), along with Fernandez, discussed these best practices during a DiversityInc panel.
The 1,045-word article also reveals innovative strategies on how employee-resource groups can be used to:
- Assist in successfully on-boarding new hires
- Provide skill-based training, career development and mentoring
- Help with leadership development
For more on how to leverage employee-resource groups to improve market share, read Why Employee-Resource Groups Are Business Resource Groups.