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Home > HR News  > Making Diversity Profitable

Turning D&I data into profitable action plans

There’s much more to diversity and inclusion (D&I) than meeting quotas. When it comes to opening up opportunities in the workplace, dismantling gender, ethnicity, sexual, physical and age barriers has the potential to deliver an increasingly positive organisational impact, not least to the bottom line.

“A survey of 1,700 organizations across eight countries found that organizations with above-average total diversity had both 19% higher innovation revenues and 9% higher margins … organizational leaders are increasingly seeing D&I as critical to achieving financial goals.” www.redthreadresearch.com

While quotas do have their place, the first step is to establish the current situation using measurement and reporting tools. From a sound baseline, the business can review what other organisations and industries are doing, look at any relevant benchmarks and set out some relevant goals and objectives.

Next, put in place a a simple, effective (and ideally automated) system for capturing data and generating reports. A flexible system will measure the impact of any initiatives being taken and allow you to make real-time adjustments to any action plans, as and when you need to.

 

Using technology to monitor employee diversity and inclusion

Getting the right technology in place can

  • Help you track and analyse approaches to recruitment to ensure they help support your diversity and inclusion objectives
  • Help you predict the impact of employee attrition
  • Help you monitor talent management and progression of employees through the business
  • Easily automate the creation of reports for audits such as the Gender Pay Gap submission
  • Identify and highlight trends in your organisation so you can develop action plans to address gaps or issues

If you don’t yet have diversity and inclusion data that’s easily accessible within your organisation BIAS can help you get started.
If you have D&I data but aren’t sure how to turn it into profitable action plans, BIAS can help you develop your strategy.
If you have an action plan in place but can’t check on a day to day basis whether it’s effective, BIAS can help you make monitoring and reporting more visible and accessible.

At BIAS, we can give you the insights you need by doing all the work on the data for you. We are data people so you don’t have to be.