DAY 3 - HR METRIC EVERY COMPANY MUST TRACK
METRIC 3 : DIVERSITY
What is Diversity ?
Workplace diversity is the range of differences within
a company or workforce, particularly related to the
categories of gender, race, ethnicity, age, and other
factors. In recent years, companies have prioritized
diversity, equity, inclusion, and belonging (DEIB) as
demands from the public for more transparency about
DEIB practices increase.
You may see diversity referred to as:
• D&I: diversity and inclusion
• DEI: diversity, equity and inclusion
• DEIB: diversity, equity, inclusion, and belonging.
DO YOU KNOW ?
76% of employees and job seekers said diversity was important when considering job offers.
WHY YOU NEED TO TRACK IT .
• Research indicates that diverse workforces are more innovative, perform
better, and can help expand a company’s pool of prospective customers.
• As more leaders place a high value on increasing diversity within
their companies, tracking diversity becomes increasingly important
to establish your baseline and track the progress of DEIB initiatives.
• Organizations with poor track records of employee diversity or
opportunities for women are less likely to attract and keep top talent.
• The U.S. Equal Employment Opportunity Commission (EEOC) enforces
federal laws that make it illegal to discriminate against a job applicant or
an employee because of the person’s race, color, religion, sex, national
origin, age, disability or genetic information.
Common DEIB metrics to know
• Ethnicity: Ethnicity represents social groups with a shared history,
sense of identity, geography, and cultural roots, which may occur
despite racial differences.
• Gender: This can include male, female, non-binary, two-spirited,
or other more detailed designations.
• Location: Location details impact diversity scores because some
locations will have different ethnic makeups than others; a person
who is a minority in one location may be the majority in another.
• Industry: Different industries have different averages for diversity
metrics such as gender ratios.
SPOTLIGHT | WAYFAIR
Diversity metrics in action
Wayfair uses DEI data to ensure inclusivity is embedded in all of their
people practices. Their analytics help identify opportunities to create
a more diverse workforce, ensure equitable people processes (e.g.,
recruiting, performance reviews, compensation), and help leaders and
managers steward an inclusive culture that fosters a sense of belonging
and retains their people.
To help scale Wayfair’s DEI analytics function, the team partnered with
Visier. “For the first time, we could easily tell the full story around outcomes
for underrepresented talent at every stage of the employee lifecycle, from
hiring through exit,” explains the people analytics manager. “This was
crucial to understanding what the problems were, why they existed, and
how to solve them.
#HR
This is such a pivotal role to drive needed change in our echosystem #SeeingIsBelieving 🚀