The success of your diversity, equity, and inclusion (DEI) initiatives is important. The more diverse, equitable, and inclusive your workforce, the greater your employee engagement, productivity, and retention levels.
Determining the impact of your DEI performance requires metrics. Tracking, analyzing, and reporting your successes and failures show which areas you are progressing in, and which areas require improvement. Then, you can dedicate resources to the areas that need them most.
Knowing what to measure and which metrics to use help you understand the progress in your company’s DEI performance. These tips can help.
Gain insight into the metrics to use to determine your company’s DEI performance.
Determine Your Metrics
Use your DEI goals to determine which metrics are most effective for measuring success. Your goals are the outcomes you want to achieve.
The metrics you choose give insight into the company’s progress in DEI performance. This information provides guidance for leaders to make more informed decisions to better reach company goals.
For instance, one of your DEI goals may be to attain equal gender representation in leadership positions by 2026. One metric you might use is determining the number of female applicants shortlisted for senior roles. Another metric could be breaking down your company’s promotions by gender.
Remember that strong performance with one metric might not indicate the achievement of your goal. Also, poor performance with a metric can be used to gather insight for improvement to reach an objective.
Select Your Key Performance Indicators
Use your DEI goals to determine the most effective key performance indicators (KPIs) for each. You may need to analyze numerical data from HR to set certain KPIs. This especially applies to the diversity of your applicants.
Consider sending multiple-choice or ranked surveys for subjective issues such as employee feelings and perspectives. This may include asking employees to rank on a scale of 1 to 4, from “not at all” to “extremely comfortable,” how comfortable they feel speaking up in team meetings.
If a goal is to increase diversity in your workforce, you must know how many candidates from underrepresented groups who reach the interview stage get hired. If your shortlists increase in diversity but your workforce does not, you can use this data to implement DEI training for hiring managers.
Analyze your retention data to determine whether specific groups of employees tend to quit more than others. If you find a group with higher turnover, consider setting up mentorship programs to promote inclusion and engagement. Also, combine your retention data with exit interview results for deeper insight and more guided action.
Evaluate Your Baselines
Understanding where you are at with your DEI performance helps determine your progress in achieving your goals. This requires the establishment of your baseline KPIs in areas such as recruitment, retention, and representation.
For instance, consider the diversity of the applicants for your roles. Also, determine whether employees with specific backgrounds, experiences, or abilities tend to remain longer with your company than others. Plus, focus on whether your leadership is more or less diverse than the organization itself. These areas impact your DEI performance.
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