The Latest on Trend #3: Implementing Strategies and Measuring Progress on Diversity, Equity, Inclusion, and Belongingness (DEI&B)
2021 1st Quarter Update
There has been an explosion of coverage on diversity, equity, and inclusion (DEI) across all facets of our daily life. Our work-life hasn’t escaped this fate, with companies feeling the mounting pressure to provide transparency into the diversity of their workforce and make progress towards DEI within their organization and communities. This call-to-action is coming from some of the world’s largest investment firms including BlackRock and State Street Global Advisors who intend to vote against company directors that fail to meet the standards for progress, government agencies like the U.S. Securities and Exchange Commission influencing through public-policy reform, and job seekers and employees who are leveraging social tools such as Glassdoor to evaluate a prospective company’s DEI performance.
A recent study found that only 6.3% of America’s largest corporations (59/931) disclosed intersectional data on gender by race/ethnicity that is derived from an EEO-1 Report (up from 27 corporations in 2019). However, there is a rise in those who have publicly announced their commitment to progress on DEI with likes of Starbucks, Target, Dropbox, McDonald’s, and Chipotle among others. Some going as far as incentivizing their senior leadership teams by linking executive compensation to diversity goals. There is no doubt a rise in transparency and accountability on the topic and as they say, “what gets measured, gets managed”.
I'm looking forward to attending SIOP Conference in April to see the latest research around strategies and measurement of impacting DEI.