Here are 5 ways to action a DEI plan with real impact.
A leading financial institution had all its C-suite members brainstorming for a path-breaking plan that could give them a competitive advantage in the market. However, all felt that the ideas were already tried and tested, and ‘out of the box thinking’ was missing. And it was then that the leadership noticed something stark. Everyone in the room was men in their 50s with more than two or decades of work experience – they lacked diversity. So, how can companies build a representative workforce and inclusive teams?
Set aspirational goals
It is vital for every organization to set objectives for what they envision for themselves. It could range from setting big numbers for increasing leadership representation or new hires within historically underrepresented groups. It provides a common aim to work toward and ensures we create a culture that encourages acceptance, inclusion, and identity as a top priority.
Make DEI everyone’s responsibility
Diversity, equity, and inclusion aren’t only an HR or leadership mission; these concepts impact everyone within an organization. It’s important to make it a challenge and responsibility for every employee, and that means holding everyone accountable. It is essential to integrate accountability for diversity, equity, and inclusion outcomes into every manager’s role.
Take steps to mitigate biases
Unfortunately, the processes we have created to run our business carry biases. Building awareness is the first step to paving the way to acceptance and inclusive workplaces. Organizations need to interrogate how all the processes—including every step of the hiring process, feedback, performance ratings, promotions, and more—affect underrepresented groups in the company.
Let data do the talking
Data transparency holds the key to figuring out where we are and what else we need to do to achieve representation. It’s critical to measure fairness across people, processes, and outcomes while also ensuring accountability across the entire organization.
Prioritize actions with huge impact
It is important to prioritize actions that are most likely to bring the biggest change. Picking from a curated list of pre-identified impactful objectives and results can help move in the right direction. After choosing an objective, organizations should consistently test, measure, and iterate to ensure expected outcomes.
Reaching ambitious DEI goals won’t happen overnight. As organizations, we should all be constantly working to build a long-lasting framework that will ensure every employee feels appreciated, valued, and heard as an individual when it matters most—even if the definition of what those mean evolves.
