As a general rule, it always pays for organizations to get ahead of certain issues and be connected, empathetic, and transparent when communicating with employees about them. To maintain strong employee relationships and avoid getting caught off guard, companies should consider preparing a communication plan to address inflation. When a company lets its employees know that it’s aware of and sympathetic to their struggles, employees are more likely to feel heard and valued—and less likely to take any drastic, stress-induced actions. There are several ways that organizations can demonstrate their care and support for their employees.

Researchers have found that companies with a more diverse workforce and leadership team are overall more profitable than their peers that lack such diversity.1 Many factors lead to this growth in revenue. Notably, today’s applicants want to work in strong company cultures that value people and how employees contribute to a company’s success. This interest drives top talent to companies with well-developed inclusive cultures and improves retention among current staff. An engaged workforce tends to be more productive—and higher productivity generally means higher profitability.

Whether a candidate applies for a role because they are actively drawn to a particular organization, because they stumble upon an open positive via a general search on Indeed, or because a sourcer found and wooed them, the job posting is almost always a checkpoint in the hiring process. Although companies have been trying to improve their job ads for decades, the need for improvement has taken on new urgency in the last year given the scramble for talent, particularly for candidates with skills in scarce supply.