A new data-led Diversity and Inclusion (D&I) Index has been launched by tech-for-good firm HR DataHub to help companies measure diversity and inclusion progress ‘objectively’.
The D&I Index has been launched in partnership with The Black British Business Awards and The Network of Networks (TNON), alongside a coalition of experts. They include the 30% Club, INvolve, Change the Race Ratio and Delta Alpha Psi. The unique tool will, for the first time, give companies the ability to benchmark their D&I performance objectively, said HR DataHub. It will enable organisations across all sectors to collect and measure their D&I data; set meaningful targets; and implement changes that work to enable workplace inclusivity.
The innovative D&I Index is “both unique and timely” as the lack of comparable data available to companies has led to confusion and slow progress in meeting D&I targets. Research conducted by HR DataHub in 2021 revealed that just a 1/3 of companies are taking a data-led approach to putting in place actions and monitoring progress. Tracking data from the start brings D&I to the top of the agenda, helps start conversations at a senior level and allows organisations to take accountability.
TRACKING DIVERSITY & INCLUSION PROGRESS
The objectives for the D&I Index are five-fold:
- To create a data led index for companies to benchmark their D&I performance.
- Integrate the index into that company’s D&I data journey.
- To implement a support framework to help companies progress through this journey.
- Help companies use data to identify areas for improvement and implement changes that work.
- To measurably improve the working lives of people from any background.
Progress will be tracked across five key characteristics. They include gender, age, ethnicity, disability, and LGBTQ+, and will report across four fundamental measures; representation (by responsibility level), tenure, talent area and pay differentials, confirmed HR DataHub.
“We are truly delighted to join forces with a coalition of exceptional and inspirational D&I thinkers to create the first ever D&I index; which is 100% objective and data-led. In focusing only on the data, we have been able to remove all subjectivity and guesswork,” stated David Whitfield, CEO and Co-Founder of HR DataHub. “With one simple data submission, we are proud to be able to help organisations across the UK to easily understand how their organisation is performing across five key characteristics and four key measures; so that they can then set meaningful targets through peer comparison and location baselining.”
MEASURING WHAT MATTERS
The ultimate aim for the D&I Index is to “ensure that companies’ diverse talent will be appropriately represented at all levels”, highlighted Sophie Chandauka, Executive Founder and Chair of The Black British Business Awards. “These insights will help business leaders to understand where faults lie, track progress and make changes for individuals on a personal level; and for the UK economy as a whole. The D&I Index will be critical in influencing industry leaders to measure what matters; and leverage analytics to diagnose and resolve issues through targeted investment. This evidence based approach is critical to accelerating the development and evolution of workplace cultures that enable all talented employees to thrive.”
“Built solely on objective data, the D&I Index uses four distinct measures to evaluate a company’s performance,” explained Dawn Whyte, Director of Business and Advancement Strategy at TNON. “This data is loaded onto the HR DataHub platform where points are assigned; and a ranking will be established. From here companies will be able to identify which areas they need to focus on; and use the resource centre and D&I Index community to put in place proven actions that will have a lasting impact. We are proud to be part of a ‘tech for good’ tool to further the change we want to see.”
CREATING INCLUSIVE & INSPIRING WORKPLACES
Without data “it is impossible for businesses to build a clear picture of where they are, or where they need to go,” added Whitfield. “But this data is just the start of the story. Once leadership execs and HR have that data, they will need to address the facts head on, get comfortable with what they find; and leverage it to build a transparent and constructive narrative that resonates with both employees and stakeholders. Only then will they be able to win ‘hearts and minds’ in and out of the organisation.”
Companies that are paving the way for their sectors to leverage innovation to create inclusive, safe and inspiring workplaces, such as Pennon Group, BAE Systems, Bright Horizons, Phoenix Group, Reward Gateway and M&S, have sponsored the D&I Index, confirmed HR DataHub.
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