A new reason for disability inclusion in the workforce
Many companies will hire people with disabilities to be more socially responsible, but did you know this hiring practice can also boost your business’s bottom line?
A recent study shows that companies that hire people with disabilities outperformed other companies in several key financial areas:
- Revenues were 28 percent higher
- Net income was 200 percent higher
- Profit margins were 30 percent higher
The study by Accenture in partnership with the American Association of People with Disabilities and Disability:IN reports that businesses that employ people with disabilities outperform businesses that do not.
Positive Impact on Human Resources
One of the many ways hiring people with disabilities is good for business is on the human resources front.
For example, “retention is stronger for people with disabilities,” says an executive director of a vocational service for people with disabilities in a recent CNN Money article.
The human resources benefits don’t stop with lower employee turnover. According to the study, businesses that hired people with disabilities also benefited from:
- Lower recruiting costs
- Increased productivity
- Improved customer outreach
“Additionally, the Department of Labor found that employers who embraced disability saw a 90% increase in employee retention,” according to a recent business.com article that also references the study.
How Some Companies Work with People with Disabilities
According to a 2018 NY Times article by a disability rights lawyer and activist:
“Bank of America brought together 300 people with intellectual disabilities to create a support services team to manage fulfillment services and external client engagement.
Microsoft built a successful disability hiring program specifically for people on the autism spectrum.
CVS Health refocused its training programs to capitalize on characteristics — creativity, problem-solving ability and loyalty — that people with disabilities often demonstrate.”
Perceived Barriers to Hiring
Many companies are hesitant to include people with disabilities in their workforce because they fear that it will require large amounts of money or expertise. However, multiple studies show this is simply not true.
“Nearly 60% of accommodations cost nothing, while the rest average around $500 per person with a disability. Additionally, reports overwhelmingly show that the benefits of a diversely-abled workforce vastly outweigh the costs,” according to the study.
Getting Started with Diverse Hiring
Here are a few ways you can begin to hire people with disabilities:
- Post a job here on JobDoozy to reach diversely-abled applicants.
- Read our article, Tax Information for Employers Recruiting People with Disabilities.
- Or contact us to get in touch with an expert on disability employment.
And remember, hiring people with disabilities is a win for everyone.