How is Noyo creating opportunities for more diverse groups of people?
When it comes to accomplishing great things as a business, it takes diversity of all kinds to succeed. Research continues to demonstrate this, with studies such as McKinsey’s latest finding that the most diverse companies outperform the least by 36% in profitability.
Creating an organization that realizes representation at all levels doesn’t happen by chance. It takes accountability, intentionality, and adaptability. Noyo is doubling down on our work of transforming the benefits industry, setting everyone on our team up for success, and creating opportunities for people of all backgrounds. We can’t accomplish any of these goals without the others. At the end of the day, it’s our people who are the future of Noyo.
Below are four things we do to ensure Noyo is a workplace that’s full of opportunities for diverse groups of people.
1. Intentionally recruit from more diverse applicant pools
At Noyo, we strive to advance equity and opportunity while recognizing that although capability and talent are universal, access is not. That’s why we put a higher value on someone’s lived experience over their education, as education often requires financial privilege.
As such, we have put scalable frameworks in place to combat things like unconscious bias in the hiring, recruiting, and employee development processes. This includes efforts like:
Posting openings via traditional and nontraditional channels to attract the most capable and diverse talent.
Supporting team members to move into different roles with transparency on the decision-making process.
Proactively finding opportunities to educate our team, such as bringing in speakers to share perspectives on different lived experiences.
Contributing to our communities by fundraising money for nonprofits.
Continuously monitoring our internal practices to ensure we’re not contributing to systemic injustice.
In addition, we have a committee of team members who serve as a catalyst for change by challenging the status quo and holding one another accountable. Collectively, we imagine a better future and work together to make it a reality.
2. Offer competitive, equitable support at work and beyond
Noyo pays according to the role, not the location in which an employee chooses to live or what they made at previous jobs. This allows us to ensure equal pay for equal work. We regularly audit our pay structure and update our salary ranges to stay competitive with evolving market conditions and ensure no one's salary ever lags behind the appropriate range for their role.
We also recognize that not everyone wants to manage people and that’s okay. An individual’s career shouldn’t suffer for doing what they love best. That’s why we have career paths for non-management and management tracks. This approach lets people progress without putting the focus on management or gendered traits as the only way to advance. And it helps us grow people into positions of leadership from a more diverse set of backgrounds.
3. Level the playing field and accelerate careers
One LinkedIn survey found that 94% of respondents said they’d stay at a company longer if it invested in their career development. Not only is learning and development useful for building employee engagement and loyalty, it’s also a key component of successful DEI programs. That’s because it helps level the playing field and democratizes accessibility to information.
One way we offer continuous learning is through our #GrowAtNoyo sessions, where we bring in speakers to discuss particular subjects. Previous topics include: Accessible Design, Gender & Gender Identity, Giving & Receiving Impactful Feedback, Interview Training, Understanding Stock Options, and most recently, Addressing the Impact of Racism on Health.
We also provide learning and development opportunities for all full-time employees related to their role. Different types of activities include: online learning, workshops, trainings, conferences, books, and subscriptions. Ultimately, we are investing in nurturing our team’s development that extends past our team time at Noyo.
4. Lead by example and create our own standard
We aren’t afraid to dream big or challenge each other to think outside the box. With this mindset, we can continue to embed inclusion and equity principles into our hiring processes, test new models for PTO that encourage rest and community involvement, and explore exciting new benefit options like fertility coverage, expanded parental and caregiver leave, mental health support, and more.
Noyo’s Employee Resource Groups (ERGs) in particular are vital to creating a work environment that’s more inclusive for all. Yet many organizations do not compensate ERG leads. We pay ours for the additional work they do and provide a budget for every ERG to pursue their goals. Each group has an exec sponsor and a specific charter to ensure that they're accomplishing their goals to support building a more inclusive, equitable, and diverse team.
Last, but not least, our employees are directly contributing to a better future with the technology they build. Historically, most benefits products and infrastructures were built by, and resourced for, wealthy white people. We’re inviting more voices to shape what the next generation of solutions should be.
Last thought: The future of benefits is bright
As Head of People Ops at Noyo, I’m excited about what a more modern, connected future means for the benefits industry as a whole. I am energized by the technology Noyo is building that makes it easier than ever for consumers to interact with, and understand, their benefits.
I look forward to more benefits customization that will give employers the flexibility to curate specific physical, mental, and well-being benefit options that employees can choose from that best fit their needs. And, as a technology expert in the benefits space, I’m excited for us to capitalize on our knowledge in a way that continues innovating internally: providing more flexible benefits and a better employee experience for our own employees.