Is your company meeting its diversity goals? More importantly, if it is, are you adequately measuring diversity and inclusion success? While we may have the best intentions, today’s companies need to be focused on not just monitoring hiring metrics - but effectively analyzing them - in order to make a DE&I difference in the long term.
But first, in order to do that, we need to take a look at key metrics for diversity and inclusion success. Let's talk about these diversity KPIs we’re measuring and why we’re measuring them.
Without further ado, here’s 4 out-of-the box ways to measure diversity-related success that don’t have to do with hiring - all of which can help you supplement enhance your current reporting.
Number 1: Rate and Timing of an Individual’s Promotions
Are non-minority groups typically promoted every year and a half when minorities are promoted two years? Are all employees held accountable to the same expectations and metrics for success? Is your company providing a clearly-defined path to promotion opportunities, regardless of race or gender?
Every hire should be rewarded for notable successes and achievement, and promoted according to a clear set of criteria. Make sure that’s happening across the organization - including minority groups.
Digging into these metrics can help determine those answers and in the very least – put you on a path to asking the right questions.
Number 2: Title and Seniority
Do employees with the same levels of educational background and qualifications receive equitable salaries and titles? Often, minorities are underpaid compared to their non-minority counterparts.
Measuring and tracking rank and pay metrics are two good ways to spot incongruences catch them early – giving your company a chance to correct a wage gap versus inadvertently widening it over time. Quantitative measures of diversity, like this, can help you see trends over time because changing diversity turning radius is a long process.
Keep your eye on historically underpaid groups. A fairly paid employee is a happy, loyal employee.
Number 3: Exposure to Upper Management and Inclusion in Special Assignments
Global studies cited in a Forbes article revealed that a whopping 79 percent of people who quit their jobs cite ‘lack of appreciation’ as their reason for leaving.
Do your employees – including minority groups - feel valued? Are you empowering them to make an impact?
Unsurprisingly, people who feel a sense of autonomy and inclusion report higher satisfaction with their jobs – and are therefore more likely to stay. Are all groups within the organization equal-opportunity contributors?
Bonus: On that note - are you performing any types of employee satisfaction surveys?
Number 4: Training and Education Programs and Partnerships
In 2014, Google made headlines for partnering with Code School. They committed to providing thousands of paid accounts to provide free training for select women and minorities already in tech.
Does your company have a similar partnership or initiative with your community or company? As simple as it sounds – don’t just set it and forget it - track the relevant diversity KPIs that determine success and measure the results of your programs to determine if it is in fact, helping achieve your commitments towards improving diversity.
The Summary: Success Comes by Measuring Diversity and Inclusion
Hopefully, one of two (heck - maybe all four) of the items above resonated with you, and you’re excited to go tinker with your reporting platform.
But wait - what if you have all this data, and you WANT to make some predictive models and see correlations in the data - and you’re all giddy to go do it - but you don’t have the tools in place?
That’s where One Model can help. Give us your data in its messiest, most useless form, load it into our platform, and we’ll help you fully leverage that data of yours.
Want to learn more? Let's Connect About Diversity Metrics Today.
Let's get this party started.
About One Model:
One Model provides a data management platform and comprehensive suite of people analytics directly from various HR technology platforms to measure all aspects of the employee lifecycle. Use our out-of-the-box integrations, metrics, analytics, and dashboards, or create your own as you need to. We provide a full platform for delivering more information, measurement, and accountability from your team.