It is a tool for helping organizations determine strategy and measure progress in managing diversity and fostering inclusion. Diversity and Inclusion (D&I) ratings powered by Refinitiv ESG data are designed to transparently and objectively measure the relative performance of companies against factors that define diverse and inclusive workplaces. What they reveal - and what they don't - about diversity, equity, and inclusion. In particular, the report highlights that the actual level of diversity in the composition of the management body in institutions differs significantly between Member States, namely When it’s time to share diversity metrics, most leaders are not proud of their statistics. BENCHMARKING REPORT DIVERSITY, EQUITY AND INCLUSION Equity recognises that some groups experience more advantages or barriers than others and, in the pursuit of justice, actions are necessary to correct the imbalance. Key Takeaway: Gaps in metrics indicate mismatch of efforts and results. This report summarizes the practices of select companies within the technology field. Diversity is a many-layered metric, encompassing workforce composition, compensation levels, and hiring trends. National Diversity and Inclusion Benchmarking Study Senior Leaders and Diversity Personnel. Companies can also benchmark themselves against their peers (in terms of industry, or markets, for example) to determine where they are laggards or leaders and learn from the top performers. Metric: Supplier diversity Using metrics will help you find a starting point in your organization’s journey and will help your managers stear in the right direction. We also know that companies change due to external pressure from the courts or markets. Achieve better business and social outcomes by fostering gender and diversity in employment and leadership. Diversity Overview Connect diversity initiatives to business outcomes through meaningful metrics, benchmarks, expert analysis, and effective training More > Diversity Insights Capture the business impacts of your D&I program through boardroom-ready benchmarking, analysis, and reporting More > Diversity professionals today are increasingly turning towards metrics as a way to optimize their programs and to be able to compete in today’s data-driven world as more and more companies are relying on metrics. Moreover, he is a member of the Board, The Centre for Global Inclusion USA. By assessing each of the five metrics, companies can identify their biggest challenges and their highest-priority goals for gender diversity—whether it be retention or equity in promotion rates. Once meaningful metrics have been established, it is important to … They should be looked at in isolation but also correlated to the data you have available through ranked method statements and demographic information. Industries Industry Breakouts. Reporting Diversity. You can pull these directly from your D&I strategy if you’ve already created one, or talk with your D&I executive sponsor to get their ideas and feedback. It’s vital to first diagnose then continually track your organisation’s progress against these metrics. You can pull these directly from your D&I strategy if you’ve already created one, or talk with your D&I executive sponsor to get their ideas and feedback. At McQuaig, we advise using assessments to help you create an ideal benchmark or candidate profile first before starting your hiring process in order to help you more accurately align what you need with who to hire. This study is the first of its kind to look at the composition of in-house legal departments by level, as well as examining flexible work arrangements and new hires. Diversity Data Benchmarking Metrics 56 . According to Deloitte, diverse companies enjoy 2.3 Gartner found that inclusive teams improve team performance by up to 30 percent in high-diversity environments. We examine the benefits, drivers and barriers influencing disclosure practices and present some recommendations for companies to evolve their diversity disclosure. DUBLIN--(BUSINESS WIRE)--The "The 2019 Diversity and Inclusion Benchmarks Report" report has been added to ResearchAndMarkets.com's offering. Diversity doesn’t make a lot of sense without inclusion: The best talents that don’t feel included will not contribute and won’t’ stay in the organization for a long time. Access and Equity: The compositional number and success levels of historically underrepresented students, faculty, and staff in higher education 1. Just be aware of the adjustment period. This 2019 Diversity and Inclusion Benchmarks provide actionable yardsticks for companies to measure themselves on diversity-related metrics and parameters. This often breeds resentment and alienates different groups of people against each other. This can be within similar industries as well as cross-industry as a broader experiential definition and measurement of D&I would not be product specific and should be applicable across all types of companies. IMA India’s 2019 Diversity and Inclusion Benchmarks provides actionable yardsticks for companies to measure themselves on diversity-related metrics and parameters. A preliminary draft of the diversity policy for the organization.. The positive impact of diversity and inclusion is no longer debatable. Diversity Metrics Currently Used by the Services ... Metrics Versus Benchmarks In the course of its investigation, the subcommittee noted that there is some confusion regarding the term metrics. To view the full report, download the linked PDF at the top of the page. These markets, known as external availability, capture the demographics and number of individuals who are available and qualified to fill positions within an organization. That means some of the metrics in this article may not apply while others are right on. Demographic D&I metrics should be measured carefully and not used as the sole marker of success in D&I projects. Company-wide metrics help show the impact of diversity and inclusion projects on the business. Global Diversity & Inclusion Benchmarks. This 2019 Diversity and Inclusion Benchmarks provide actionable yardsticks for companies to measure themselves on diversity-related metrics and parameters. Metric: Customer diversity, inclusion, and loyalty. A preliminary draft of the diversity policy for the organization.. ... GPHR) is CEO of HR Metrics and President of SHRM Forum Pakistan. The following information reflects reporting on the Society’s gender diversity … Benchmarking . SEPTEMBER 14, 2020. As a US 501c3 public charity, The Centre is also the home of the Global Diversity & Inclusion Benchmarks: Standards for Organizations Around the World (or for short, the GDIB). To kick off diversity and inclusion benchmark research, set goals in order to identify what the organization wants out of a D&I program (not to be confused with targets, which is the change you want to see in metrics tied to your goals). Diversity Overview Connect diversity initiatives to business outcomes through meaningful metrics, benchmarks, expert analysis, and effective training More > Diversity Insights Capture the business impacts of your D&I program through boardroom-ready benchmarking, analysis, and reporting More > Following research to locate an accountability tool that would work for the diverse employment qualities of the member agencies, the WNC Diversity Engagement Coalition adopted the Global Diversity and Inclusion Benchmarks (GDIB) as a highly recommended resource. Thanks for reading! Diversity and Inclusion in the Workplace: Benefits and Challenges Achievers - Recruiting . It is based on data collected from 300 companies across sectors through a detailed questionnaire covering diversity budgets, structure, policies, promotional measures, success metrics, and impact assessment. The business and social cases of diversity and inclusion. More recently, in September 2020, the World Economic Forum (WEF) released a set of ‘stakeholder capitalism metrics’, designed to assist in the benchmarking of sustainable business performance. IBM, American Red Cross, and WEConnect All Spotlight the Value of Supplier Diversity Programs. 91 percent of companies have supplier diversity organizations, however only 12 percent of total spend is allocated to diverse suppliers ; 61 percent of CEOs review … Diversity Hub reviews emerging global best practices, carries out local research to understand industry need, produces data driven research reports, and designs bespoke solutions to facilitate desired outcomes. Description: Compare customer diversity with the internal, market, and industry benchmarks, and track customer experience, inclusion, and loyalty. press@researchandmarkets.com Tracking these numbers is important to identify areas that may have problems. HR Metrics has developed Diversity Hub in Pakistan. Ways to make EDI tangible is using metrics to quantify the levels of engagement in EDI in the organization. Diversity and inclusion aims to ensure everyone can do their best work, not just a specific group of people. Laura Wood, Senior Press Manager However, most of these metrics have limitations. FEBRUARY 24, 2017. Keeping track of discrimination complaints and outcomes helps firms to develop routines and practices to restore dignity, demonstrate commitment to equal opportunities, and save on the cost and trauma of legal solutions. For E.S.T Office Hours Call 1-917-300-0470 Global Diversity & Inclusion Benchmarks Standards support organizations globally in the development & implementation of Diversity & Inclusion (D&I) best practices. Metrics, benchmarking, and indexing, oh my! While D&I is a stated value or priority area for 76% of organisations, 33% of respondents still feel diversity is a barrier to employee progression. For more concrete or completion-based initiatives, pick metrics tied to clear milestones.Surveying or interviewing based on metrics provides a benchmark. Metrics, benchmarking, and indexing, oh my! SUPPLIER DIVERSITY. You can learn more here! While diversity and inclusion can make an impact, stating it was the whole reason for success de-values people who are considered “non-diverse.”This not only kicks up resentment, it’s also not true: diversity wins because of everyone’s perspectives. Set specific and measurable goals using the metrics above. If you're interested in more resources like this you can sign up to our mailing list, or if you've got advice/experiences that you'd like to share - we'd love to hear from you! Composite findings are complemented by eight levels of data cuts - by turnover, ownership, sector, etc - for key indices. When there’s so much focus on improvement but the numbers are abysmal as always, most people experience some form of shame. New benchmarks for racial and ethnic representation from NCRC and Beneficial State Foundation set goals and metrics for banks to evaluate their performance Get Our Activist Investing Case Study! The 2019 Diversity and Inclusion Benchmarks Report Benchmark your D&I initiatives on key metrics: Budgets, structure, diversity mix, best practices and more . We have interviewed dozens of leading companies in this area and one of the stories I remember was a discussion with the global chief diversity officer at a large food service company. Key Takeaway: Gaps in metrics indicate mismatch of efforts and results. From there, you can set a target improvement for each metric. The GDIB helps organizations determine strategy and measure progress in managing diversity and fostering inclusion. Take those goals and describe tangible outcomes - the things that you could show as evidence of success. Specifically, look for: Supplier diversity (the ownership diversity of suppliers, consultants, and other vendors), Average demographics in the areas the company operates compared to the company. Diversity metrics proliferate shame, fear, and uncertainty – creating an environment where people don’t genuinely want to get involved. Gallup’s State of the Workplace 2017 report reveals some powerful ways in which highly engaged employees contribute to the financial health of their company. Based on the Fortune 100 companies’ 2018 and 2019 proxy statements, 23% of the Fortune 100 companies do not report information on diversity and the other 77% report the information using different metrics. Understanding the diversity of your applicant pool is easy with Weirdly’s diversity module - as DIY retail-giant, Bunnings, recently found out. Industries Industry Breakouts. February 2019 . Without this option, an employee may simply not complete the survey, giving skewed data and limited insight.Demographic to use: Disability status and physical accessibility needs. Instead, link demographic data to inclusion data like the Ranked Method questions above.Further, these metrics are difficult to get a true picture of as many are based on self-identification - a company cannot legally require disclosure of these questions in most cases. For U.S./CAN Toll Free Call 1-800-526-8630 Retention and Turnover Metrics Benchmarking Diversity 43 . Initiative-focused metrics are things that you can track easily and are tied to progress on a numbers-based initiative.Initiative-focused D&I metrics to use: % of bathrooms that are gender affirming or gender neutral, % of entrances and exits that are accessible, % of physical accommodation requests accommodated, % demographic data (eg % of workforce that identifies as a certain gender or other demographic identity), # of attendees at D&I events you host or sponsor. While scholars do distinguish between diversity and inclusion and note the importance of the latter (for example, see Claeys-Kulik and Jorgensen 2018), little attention has thus far been paid to either setting inclusiveness goals or to developing the metrics that would be appropriate for measuring them. About Diversity Hub. If you get this response a lot, there may be other issues at play making employees uncomfortable with disclosing. Dalhousie University in partnership with CCDI . Once you identify the intended outcome, attach a metric to it. To address this issue, this paper proposes a performance metric and a multi-objective test suite for the diversity assessment of multiobjective evolutionary algorithms. Cultural Diversity: the ability to recognize the origins and influences of one’s own cultural heritage along with its limitations in providing all that one needs to know in the world. Cross-tabulations are presented against key attributes to enable a deeper understanding of success factors: In terms of depth and detail, the report is a first of its kind exercise in the Indian context. An effective supplier diversity program is one that demonstrates measurable results over a variety of metrics. Looking for metrics outside of the company help to widen the story even further. Business Leaders on Employee Diversity and Inclusion. This list of suggested metrics can help round out any inclusiveness focused metrics on company surveys and for internal discussions.There are a lot of metrics to consider. Diversity Metrics: Bunnings gets visibility at the top of the funnel In Brief Before Weirdly: • No visibility of diversity metrics for … Enjoy an employer of choice status locally and internationally due to services and outcomes in gender and diversity. McQuiag. Inclusion means proactively inviting, welcoming, and leveraging the unique perspectives of diverse identities. What they reveal - and what they don't - about diversity, equity, and inclusion Global Diversity & Inclusion Benchmarks. SEPTEMBER 14, 2020. Collecting relevant metrics allows firms to develop diversity goals and make timelines for reaching them. Diversity and inclusion (D&I) stretches across the whole organization, so D&I success metrics should too. Often, job ads can hamper diversity efforts merely by … PwC’s D&I Benchmarking Survey finds out. While company-wide metrics are crucial for D&I impact, be careful of labelling “diversity” as the cause of revenue increases. Also be aware that too short a time period may look bad, metrics-wise. ... and even manager compensation and performance assessment tied to diversity metrics. You are here: Home. Establish metrics for benchmarking best and leading practices to develop recruit, retain women and people of color into leadership roles of F1000 companies, average employee base (30,000) regional companies with an average employee base (5,000). This enables companies to identify the right targets and goals—and the right metrics to track. Supplier diversity is maturing, becoming more ingrained in every aspect of doing business and recognized as vital to the bottom line. Diversity doesn’t make a lot of sense without inclusion: The best talents that don’t feel included will not contribute and won’t’ stay in the organization for a long time. Diversity is an important topic for leading companies all over the world. To kick off diversity and inclusion benchmark research, set goals in order to identify what the organization wants out of a D&I program (not to be confused with targets, which is the change you want to see in metrics tied to your goals). SUPPLIER DIVERSITY. With valuable inputs from Charu Sharma of NextPlay.ai, we simplify this conversation with insights into: Three diversity metrics you should be keeping an eye on The Diversity Best Practices Benchmarking Tool collected D&I data representing more than 1.2 million employees across 14 industries at more than 53,000 worksites nationwide. Companies can also benchmark themselves against their peers (in terms of industry, or markets, for example) to determine where they are laggards or leaders and learn from the top performers. Based on the Fortune 100 companies’ 2018 and 2019 proxy statements, 23% of the Fortune 100 companies do not report information on diversity and the other 77% report the information using different metrics. The Diversity Best Practices Benchmarking Tool collected D&I data representing more than 1.2 million employees across 14 industries at more than 53,000 worksites nationwide. Correlational metrics are major storytellers when measured against ranked method metrics, demographic metrics, and company-wide metrics.Correlational metrics to use: Turnover (both voluntary and involuntary) rates by department, demographic metrics, and seniority, Employment status (eg. As companies look for better ways to measure D&I, they seek to benchmark themselves. Benchmark your D&I initiatives on key metrics: Budgets, structure, diversity mix, best practices and more . 91 percent of companies have supplier diversity … Using BCG’s Diversity and Inclusion Assessment for Leadership tool, we are able to benchmark data against industry and geography, leveraging our existing database of more than 25,000 responses from across the globe. global diversity + inclusion benchmarks. Earlier this year I presented with McKendree Hickory at LifeLabs Learning and her presentation was the missing piece to uncovering why diversity metrics don’t work. Lastly, 42 percent of the benchmark companies measure managers for employee satisfaction in regards to Diversity satisfaction. Crescendo is the diversity & inclusion education app for Slack and we’re on a mission to help companies create more inclusive workplaces. … It is advisable to benchmark the program against established and successful initiatives in other industries, thereby learning from these organizations’ setbacks … Our Diversity and Inclusion Index ranks over 7,000 companies to identify the top 100 publicly traded companies with the most diverse and inclusive workplaces, as measured by 24 separate metrics … Get the entire 10-part series on our in-depth study on activist investing in PDF. This report provides an overview of the current state of diversity reporting in Europe. Its mission is to help organizations become sustainable through inclusive cultural and behavioral change. Benchmarking of Technology Industry & Diversity. An organization that has only diversity metrics on their dashboard follows one of the bad practices in performance measurement. The best part of using metrics is that they can be used across all of your organization’s departments and can act as a benchmark for your EDI journey. Tracking diversity metrics, therefore, can be equally complex. full time vs contract vs part time). Security Privacy Policy Terms of Use Careers Support Contact Us, D&I, Diversity and inclusion, diversity, inclusion, diversity and inclusion, D&I exec, d&I executive, sponsor, d&i, diversity, inclusion, events, guideline, inclusion guideline, guide, diversity & inclusion, diversity and inclusion, checklist. Metrics Diversity Benchmarking HR Function 65 . As the saying goes, “what gets measured, gets done.” But how do you know which metrics to measure? How To Write Remote Job Descriptions. However, focusing on them too much for success leads to identity-based business decisions. Take … Remember, diversity and inclusion metrics are all about making the company better. Diversity and Inclusion in the Workplace: Benefits and Challenges. ISPOR's Diversity Metrics. Establishing A Diversity Benchmark: Like most large corporations, diversity data during the recruitment process had been either extremely complicated to gather or in some cases, just not available at all. Specific D&I success metrics indicating both micro and macro organizational impact is necessary to show the value of your program and measure the outcomes of D&I projects. Establishing a clear and accurate benchmark to help inform their diversity and recruitment strategies was vital. In the long term, this shift provides the benefits what the organization wants. For outcomes around feelings, perspectives, or other non-numerical items, use ranked method metrics where you offer a statement that speaks to the outcome, such as “I believe this company is inclusive” and ask respondents to rank their feelings about the statement on a scale of one to five. Global Diversity and Inclusion Benchmarks: Standards for Organizations Around the World (GDIB) to all who believe in the value of diversity and inclusion and who are committed to continuously improving standards. Indicative Topics. But as D&I programs have matured over the last twenty years, it has become clear that they have clustered more toward the diversity end of the equation while missing the mark on inclusion. Such scorecards include metrics for recruiting, promotion rates, compensation levels, participation in coaching programs, turnover, participation in ERGs, supplier diversity, and much more. 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