In terms of business measures, most of us are aware of our core financial figures, whether it’s sales targets, customer numbers or growth rate, there are some numbers which just roll off the tongue. But among those numbers, the figures that define the black from the red, the difference between sink and swim, will you find a measure of diversity and inclusion? Perhaps not.  And on the one hand, why should businesses include diversity and inclusion in their core performance measures? Diversity and inclusion are relatively recent concepts in business management, so companies have been doing quite nicely without them as part of their core KPIs for quite some time thank you very much. Why complicate things by adding new measures to the mix?

Moreover, even if you wanted to include diversity and inclusion in core performance metrics, how should they be measured? With diversity, putting a number on things runs the risk of entering the dreaded territory of quotas and all the misconceptions and negative agendas that follow. And with inclusion, well, how do you measure inclusion? Isn’t it just a feeling, a sense, which makes it intangible and unquantifiable?

Well in answer to the above, yes it is possible to measure both diversity and inclusion fairly and objectively and in fact, it makes perfect business sense to do so. Business management has come a long way even in the last few years and there are plenty of handy tech tools to help with analysis of all kinds, including diversity & inclusion. Diversity can be a numbers game it’s true, but this can be a positive if the aim is to improve representation at certain levels in the business or to manage pockets of underrepresentation. Numbers can provide a very valuable shock factor which is then difficult to ignore. The fact is that it’s very hard to assess the status quo in any organisation, without using numbers to quantify an issue: figures make an argument more impactful, make an action plan more tangible and are far harder to ignore or forget.

As for inclusion, it’s far more than a feeling. It’s a culture, a theme that often runs throughout entire industries. There are now systems available to measure inclusion, even breaking it down to a rudimental return on investment calculation, i.e. for every £1 you put into inclusion, here’s what you get out.

If you’re not yet convinced, here’s a reminder of why diversity and inclusion both deserve a seat at the management table:

  1. Diversity & inclusion enable better decision making: with greater diversity comes a wider pool of experience, ideas and opinions, guaranteed to offer a broader spectrum to discussions and generate a deeper, more meaningful exploration of key business issues. But all that is useless unless there is inclusion because it’s inclusion that champions everyone’s contribution and positively encourages everyone to bring ideas to the table. Without proper inclusion, people may not feel invited to participate in discussions or may feel that their opinions don’t matter. So, if you know your diversity figures, you need to know your measure of inclusion too.
  2. Inclusion generates improved levels of productivity. How? By creating a more engaged and motivated workforce that is less likely to leave, less prone to taking sickness absence and less keen on raising grievances, leaving everyone with more time to do their jobs – and be more productive. As well as creating an infinitely nicer place to work, which leads us on to….
  3. Diversity and inclusion improve brand positioning and are practiced by employers of choice. Diversity opens the door to a wider pool of talent by embracing differences and actively including variety in the recruitment strategy. Inclusion makes recruiting a doddle; businesses can attract the best talent because their people feel valued as a result of inclusive management practices. Inclusive companies don’t have to offer over the odds salaries or compete in bidding wars to on-board the best industry talent. They are the brand that everyone wants to work for. Candidates are now commonly interested in diversity and inclusion and a company’s commitment to pursuing D&I could be make or break in terms of desirability.
  4. Diversity and inclusion offer competitive edge. In the current climate, market competition is tough and businesses need to assess every angle of their performance to give themselves the best chance of survival. Diversity and inclusion is a string to the bow and could be the difference between a high performing business and a mediocre one.
  5. Diversity and inclusion are an integral part of human capital strategy planning and encourage businesses to review their workforces more frequently and holistically, making businesses immediately more aware of workforce planning priorities and issues such as assessing skill gaps, and training and developing staff to fill them. It also helps businesses to future-proof their people strategies as they have already mapped out succession plans and contingency planning, as well as making the most of all their assets by encouraging inclusion.
  6. Inclusion is self-perpetuating; the more involved people feel, the more they will involve others. And the more diversity there is in operation, the greater variety of people they will have to involve, opening up a broader base of skills and expertise to bring to the forum.

 

As to how diversity and inclusion can and should be measured, that’s where we come in.

Here at great{with}diversity, we have designed a purpose built tool to provide an objective audit on how diversity and inclusion are being lived within your organisation. Delivered as a questionnaire, it examines perceived organisational commitment, behaviour, meritocracy and how important individuals feel diversity and inclusion are to them and the organisation.

Feedback is gathered anonymously to mitigate any concerns that employees or managers may have about sharing their thoughts. As well as providing a detailed diversity profile of your organisation in terms of age, gender, ethnicity, religion, sexuality and disability, the audit will also look at the organisational commitment to diversity and inclusion and the personal experience of those within the business. The outcome is a strategic report, segmented by demographic variables to deliver the diversity profile of your organisation. We can also provide benchmarking if required.

You can have a look at an example report on our website and the reports are fully customisable to meet your needs. Do contact us if you have any questions and we can talk it through. You can contact us through any of our social media channels, or a phone call is fine too. For all our details, visit us at www.greatwithdiversity.com