Parity.org has announced the launch of a diversity, equity and inclusion (DE&I) tool to help companies measure, track and improve gender and racial progress across their workforce.
ParityINDEX can provide firms with insights into areas like pay equity and the employment cycle by gender and race. It can also pinpoint problem areas through the lens of gender, race, age, tenure and rank to see what may be causing disparities, confirmed the non-profit dedicated to closing the gender and racial representation gaps in leadership.
For example, it can help to answer why employees stay or leave your organisation; and what barriers are preventing women and people of colour to advance in the company. Additionally, it can measure progress over time; and even see the impact of crises like the Covid-19 pandemic on the workforce in real time, according to the non-profit.
“Many companies are on a journey to be more intentional about their hiring and employment practices, but they find the data are hard to sift through,” stated Cathrin Stickney, Parity.org Founder and CEO. “With the ParityINDEX, we want to provide CHROs and Chief Diversity Officers with a tool that can help them find hidden patterns and create a more equal work environment.”
CLOSING GENDER & RACIAL GAPS
Participating companies receive a ParityINDEX score, which they can use to benchmark their progress against others in their industry. Leaders can also receive daily updates about their workforce by connecting their Human Resource Information System to the ParityINDEX. This allows diversity and HR leaders to see up-to-date results without investing a significant amount of time into reporting.
Parity.org was created in 2017 to close the gender and racial gap in business, particularly at the top where the gap is widest. Its ParityPledge asks companies to commit to interview at least one qualified woman and person of colour for each open leadership role, VP and higher, including the C-suite and the board. Nearly 500 companies have signed the ParityPledge to date, ensuring more equal opportunities for women and people of colour.
“We were inspired to create the ParityINDEX after hearing that many companies that signed the ParityPledge weren’t sure how to measure their success,” explained Stickney. “Working with inequality experts, we considered what insights would be most useful for HR and diversity officers and developed the ParityINDEX to help them address their gender and racial balance, not just in leadership, but throughout the organisation.”
Click here for more information about the non-profit, the pledge or ParityINDEX.
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