A Holistic Strategy Can Help Drive Diversity ROI

by Kim Strong

Vice President of Diversity & Inclusion
Target

At Target, diversity and inclusion is a core value we integrate into every area of our business—our teams, stores and our suppliers. In my 20-plus years with Target, I’ve witnessed the power of this commitment time and time again, and have formed a deep understanding of the benefits of an integrated diversity and inclusion strategy.

My team’s role is to bring this core value to life for our team members, guests and communities. To do that, we focus on our 3R (Representation, Retention and Reputation) strategy. This strategy sets our focus on developing diverse talent, creating future leaders, and making sure everyone knows that Target is a great place to work and shop.

“My team’s role is to bring this core value to life for our team members, guests and communities.”

Representation

Target is committed to increasing representation by attracting and hiring diverse talent, and by diligently planning their career moves. We partner with organizations like the National Society of Hispanic MBAs and National Black MBA Association to recruit diverse talent nation-wide. This process takes time, but we’ve seen the results that diverse teams produce. Diverse teams at Target are highly engaged and come up with a greater variety of innovative solutions.

Retention

While Target highly values the fresh perspectives of new team members, this commitment doesn’t come at the expense of current talent. Through both formal programming and organic processes, our leaders focus on four key behaviors that we believe help retain good talent: placing talent effectively, forming authentic connections, training and developing, and engaging and inspiring. By creating a consistent leadership culture committed to retention, we have seen a significant impact on our turnover rates across the business.

Reputation

Target team members are representative of the communities in which we do business—and how the larger community views Target is as important as how our guests view their shopping experience in our stores. As part of a longstanding commitment to our communities, we partner with a variety of organizations, public officials and neighbors to maintain strong relationships outside of Target. Many of these partnerships have led to longstanding relationships that not only positively impact Target’s business, but also help to create strong, healthy and safe communities.

Return on Investment

Target’s 3R strategy has proven to be the right thing to do for our business and for the communities where we operate. Our diversity and inclusion business councils, which comprise more than 4,700 team members, further support our strategy by collaborating with the business on merchandising, marketing and external partnerships. Diverse teams have partnered externally to develop merchandise tailored to specific segments, and have led the City Target concept—small-format stores that help expand our presence in U.S. urban markets—which will launch in four cities in 2012.

When it comes to building an inherently diverse and inclusive culture, it takes time and work. But I know first-hand that the results are well worth the effort and the ongoing investment.