In today’s increasingly diverse and inclusive world, DEI (Inclusion, Diversity, Equity, and Accessibility) programs have become a crucial part of building a thriving workplace culture. While many organizations rely on subjective assessments to measure the success of these programs, it’s essential to understand that measuring DEI programs can yield many benefits. In a recent webinar, Diversio EDU leaders provided seven compelling reasons why measurement matters.
Firstly, setting measurable goals creates the conditions for achieving them, increasing the likelihood of success. Secondly, increasing inclusivity, diversity, equity, and accessibility is not only morally and ethically beneficial but also a smart business strategy. By providing data produced by measurement, employees can be enrolled in the project and understand the importance of DEI training to the organization’s success.
Thirdly, companies with a diverse workforce are up to 20% more innovative and deliver 19% higher innovation revenues. Fourthly, gender-diverse and ethnically diverse boards are more likely to outperform the national industry median for financial performance. Diverse boards are associated with a 36% higher revenue, and companies with an inclusive culture enjoy numerous benefits such as lower absenteeism rates (-41%), higher productivity (+17%), and increased sales (+20%) and profitability (+21%).
Fifthly, inclusive decision-making leads to faster decision-making (twice as fast), fewer meetings (50% less), better decisions (up to 87%), and improved decision outcomes (up to 60%). Finally, organizations with systemically diverse, inclusive, equitable, and accessible workplace cultures tend to thrive. Investing in sustained IDEA training not only reduces disputes among employees and harassment claims but also raises engagement, focus, and employee morale.
In conclusion, measuring DEI programs is a critical tool to increase their effectiveness and impact on workplace culture. By following the tips provided by Diversio, organizations can create a thriving workplace culture and reap the benefits of increased innovation, revenue, productivity, and engagement.
This blog was originally published by Diversio EDU (formerly CCDI Consulting) in December 2022.
Our newsletter and blogs feature personal opinions and diverse viewpoints. We aim to create a safe space for our team to share their perspectives on diversity and inclusion. Please note that individual articles may not align with every reader’s view or comprehensively cover a topic. We appreciate the diversity of opinions and respect our team’s contributions.
