In the old days, companies typically tried to meet their workforce diversity goals just to stay out of trouble. Then they got smart. They realized that by making diversity and inclusion a priority, they could build better brands, create better products, and ultimately increase business performance. In fact, 69 percent of CEOs ranked diversity and inclusion as a top business priority, according to a Deloitte report. And frankly, striving for workforce diversity is just the right thing to do.
Today, human capital management (HCM) technologies play a critical role in helping companies achieve their diversity and inclusion goals. Gartner went in depth on this topic in a report it published in March 2017 titled, “HCM Technology Is Paramount for Successful Diversity and Inclusion Interventions.” Here at Workday, we use our own HCM application to track and gain insights into the diversity of our workforce and where we need to do better.
I wanted to share some ideas and action plans for organizations to consider as they look to make their work environments even more diverse and inclusive. At Workday, we’re already doing many of these things or have plans to do so in the near future.
Focus on the Data. It’s hard to move the needle on something you can’t measure. Thankfully, because of increasingly sophisticated HCM technologies, measurement has become much easier in the past two or three years. In Workday HCM, you can look at data in a lot of different ways and start to see things beyond basics (such as the percentage of minorities and women on any given team). Organizations can set up informative dashboards that readily highlight much richer data, such as patterns of attrition and promotion of women and underrepresented groups, and equip executives and people managers with the knowledge to pinpoint problems and initiate action plans.
Set Goals. Use your HCM system to help you set team, department, regional, and company-wide goals. Say you want to set a goal to increase the diversity of applicants by 25 percent, or the number of women in management positions by 10 percent. You could put those goals in diversity scorecards and share them with people managers, so they can work toward targets and see how their teams’ diversity compares with other teams within the company.