Develop a DEI Metric-Based Attitude | Tips to Get Your Company Ready

In today's diverse and inclusive workplaces, it is becoming increasingly clear that measuring the effectiveness of D&I efforts can provide valuable insights to improve the workplace culture and promote equality. Companies that understand this and put in place metrics-based D&I strategies stand to gain a competitive advantage in attracting and retaining top talent, reducing employee turnover, and improving productivity.

Why a Metrics-Based D&I Strategy Matters

The old adage, "what gets measured, gets done," rings true for D&I efforts. To make meaningful progress in creating a diverse and inclusive workplace, companies must first understand their current state of affairs. By collecting data and measuring key metrics, companies can identify areas where they are doing well and where they need to improve.

Metrics-based D&I strategies can help companies:

• Set clear goals and objectives
• Monitor progress toward those goals
• Identify areas where they are falling short
• Make data-driven decisions
• Improve communication around D&I efforts
• Hold leaders accountable for progress

Here are some tips to help companies develop a metrics-based D&I strategy:

1. Be Prepared

Before collecting DEI data, companies should prepare their executives to act on the results. The findings and issues should be prioritized, and steps should be taken to address them. Communication should be clear and frequent to keep all stakeholders informed.

2. Communicate the Commitment

Change is complex, and expectations must be managed with clear, transparent, and continuous communications. Companies should share their goals and objectives and celebrate wins while acknowledging setbacks.

3. Develop a DEI Data Policy

The data collected regarding D&I is sensitive and confidential. Companies should create a well-defined policy regarding data collection, storage, use, retention, and destruction. This will help build trust with employees and increase participation levels while also reducing legal risks.

4. Remember, Data is not a Plan

DEI surveys can provide valuable insights that direct the strategic planning process, but they are not a solution in and of themselves. The data collected is useless unless it is used to inform the company's planning process.

5. Do not Think of DEI as an Initiative

Companies should view D&I as a strategic imperative and give it the proper attention it deserves, including resources, budget, and time.

The Benefits of a Metrics-Based D&I Strategy

By developing a metrics-based D&I strategy, companies can benefit in several ways. Here are just a few:

1. Attract and Retain Top Talent

Studies have shown that diverse and inclusive workplaces attract and retain top talent. By measuring progress toward D&I goals, companies can create a more welcoming environment that appeals to a broader range of employees.

2. Reduce Employee Turnover

When employees feel that their workplace is inclusive and values diversity, they are more likely to stay. A metrics-based D&I strategy can help identify areas where improvements are needed, leading to a more engaged and satisfied workforce.

3. Improve Productivity

Diverse teams are more innovative and creative, leading to better problem-solving and increased productivity. By measuring progress toward D&I goals, companies can create a more collaborative and inclusive work environment.

Measuring the ROI of D&I Efforts

While it is difficult to tie D&I efforts to monetary outcomes such as return on investment, companies can reframe the question to a metric that can still be valid and quantifiable. For example, companies can measure the cost of losing a trained employee, the expense of training and onboarding a new employee, or the opportunity cost of a job vacancy.

The success of a diversity and inclusion strategy depends on the metrics used to measure progress. Therefore, it is essential to establish clear and measurable metrics that align with your organization's goals and objectives. These metrics can include diversity of hires, employee retention rates, promotion rates, and employee engagement scores.

Once you have established your metrics, it is critical to monitor progress regularly to ensure that your diversity and inclusion efforts are on track. Regular monitoring allows you to identify areas that need improvement and make adjustments as necessary.

To create a truly inclusive workplace, it is essential to provide ongoing training to employees at all levels of the organization. This training should cover topics such as unconscious bias, cultural competency, and inclusive communication. Providing ongoing training ensures that your employees are equipped with the knowledge and skills they need to create a diverse and inclusive workplace.

When your organization achieves a diversity and inclusion milestone or meets a specific goal, be sure to celebrate it! Celebrating successes helps to reinforce the importance of diversity and inclusion and encourages continued progress.

Creating a successful diversity and inclusion strategy requires buy-in and support from the highest levels of your organization. Therefore, it is essential to hold leadership accountable for the success of your diversity and inclusion efforts. Leaders should be held responsible for implementing strategies, monitoring progress, and making necessary adjustments to ensure the success of the program.

In conclusion, creating a diversity and inclusion strategy that is grounded in measurable data is essential for organizations that want to create a truly inclusive workplace. By following these tips, organizations can establish clear metrics, monitor progress regularly, provide ongoing training, celebrate successes, and hold leadership accountable for the success of their diversity and inclusion efforts. And if your organization needs help in preparing an inclusion, diversity, equity, and accessibility (IDEA) measurement plan, CCDI Consulting offers a wide range of services to support you.