One of the most significant barriers to business expansion in New Hampshire is staffing. The 2024 Business Leaders Survey, conducted by the Business Industry Association and the Center for Ethics in Society at Saint Anselm College, polled 500 business owners and found that 75% cited the state’s worker shortage as a significant obstacle to growth.

As part of their response, many businesses have adopted diversity, equity, and inclusion (DEI) policies as a wise strategy for solving the current problems. These policies enable tapping a wider talent pool while improving retention through an inclusive workplace environment. Ensuring that no candidate is disposed to the exclusion by age, disability, or identity forms crucial factors in overcoming workforce-shortening challenges.

DEI as a Business Advantage

Investments in DEI practices extend beyond hiring. Studies indicate that 60% to 75% of consumers consider a company’s diversity and inclusion efforts when purchasing. Recognizing this, New Hampshire-based organizations increasingly implement DEI strategies to attract talent and customers.

603 Diversity, a long-standing advocate for inclusive workplaces, is launching a new Inclusive Workplaces section highlighting how local businesses integrate DEI principles into their operations. One organization leading the charge is New Hampshire Mutual Bancorp (NHMB), a shared services entity for Meredith Village Savings Bank, Merrimack County Savings Bank, the Savings Bank of Walpole, and NH Trust.

A Commitment to Inclusion

NH Mutual Bancorp’s DEI journey began in 2019, well before the national reckoning on racial injustice. Tamara Richardson, senior vice president of human resources and DEI officer, emphasized that the company was already embedding DEI into its operations before the George Floyd tragedy.

“Before the George Floyd murder happened, we were already working on it,” Richardson said. “Then, after that tragic injustice occurred, we started focusing our efforts even more on DEI.”

NHMB operates under seven A+ Merits and core values guiding its organizational culture. According to Richardson, these values have been instrumental in advancing DEI efforts.

Learning at All Levels

DEI training is a key component of NHMB’s strategy. Employees at all levels, from new hires to senior leadership, participate in ongoing education. A DEI overview is now a standard part of onboarding, ensuring that inclusivity is ingrained from day one.

“It really set them up with a solid foundation of just what it was, and how our organization supports a culture where everyone can come to work and feel welcomed,” Richardson shared.

NHMB established a DEI Advisory Committee three years ago comprising volunteers from various departments. The committee has since launched two employee resource groups for caregivers and mental health and well-being, and a third is set to launch later this year.

Apprenticeships and Workforce Development

NHMB also addresses workforce gaps through a certified teller apprenticeship program, one of the first in the State of New Hampshire. Recognized by the state Department of Labor, the program directly supports the company’s DEI efforts to attract diverse talent.

Richardson herself completed an inclusive workplace training program through the Society for Human Resources Management, reinforcing NHMB’s commitment to promoting an equitable work environment.

Measuring Success

The Workforce Diversity Coalition has recognized NHMB for its DEI efforts. The company has seen a steady increase in workforce diversity in recent years. The company conducts an annual DEI employee survey to assess progress and identify areas for improvement. In the latest survey, 81% of employees responded favorably to the statement, “Workforce diversity is valued at our organization.”

“I would say that the employee survey is very important. It helps us to see where we are and where we need to go, where we need the extra help,” Richardson added. “We can always strive to be better at including everyone.”

Looking Ahead

Despite national debates around DEI, NHMB remains committed to its initiatives. Ultimately, NHMB aims to create a workplace where all employees feel valued and supported. 

As more New Hampshire businesses implement DEI strategies, the link between inclusion and business success becomes increasingly apparent. By promoting diverse workplaces, companies strengthen their internal culture and gain a competitive edge in an evolving economy.