A DEI Strategy is one way for organizations to promote diversity and inclusion. Moreover, it can help retain employees. According to a study by Workhuman, 46 percent of respondents said that their future employment plans will be affected by an organization’s DEI strategy. To make your DEI strategy successful, consider the following three tips:
– Establish KPIs and metrics to track your progress. The purpose of KPIs is to measure the impact of your DEI initiatives. A good strategy should include both short-term and long-term goals, as well as an action plan and hierarchy of tasks. The objective is to measure progress in achieving these objectives, while remaining transparent and accountable to employees.
– Make DEI an organization-wide commitment. While many companies claim that DEI is central to their business, they often fail to prioritize it, which is detrimental to its long-term success. Effective DEI initiatives require organization-wide commitment and a radical change in workplace culture. The ideal DEI strategy focuses on removing unconscious bias and addressing inequity across demographics, hierarchies, and departments.
– Make sure your strategy is aligned with your mission and strategic plan. A diverse team is likely to be more productive and innovative. That translates to increased profits and sales. A diverse team also represents the demographics of your target market more accurately. For example, a company that hires people of color and ethnicity is more likely to have a diverse workforce than a company that doesn’t.
– Develop a strategy to help employees understand diversity and bias. This strategy will help your leadership team understand the different perspectives of employees. For example, research has shown that organizations with greater gender diversity outperform their peers by 25%. In addition, organizations with diverse boards see 19% higher revenue than those without.
– Start by surveying employees. This is the best way to gauge your DEI journey. By doing so, you can better understand what is working well and where gaps are. Once you understand the differences, you can make informed decisions about your organization’s strategy. If you’ve already established your mission statement, you can then create a DEI strategy that integrates these goals into your overall mission.
– Ensure employees have access to a DEI Learning and Performance Ecosystem. This is critical to ensuring long-term behavior change. This is a continuous process that requires L&D leaders to continually measure quantitative metrics and visualize how their strategies impact employee engagement. This approach is crucial for overcoming bias and driving behavior change.
– Develop a culture of inclusion. Inclusion is crucial to a successful organization. Organizations with a diverse workforce tend to be more innovative and progressive. A DEI strategy can create an environment where everyone can thrive. It also fosters a friendly workplace free of microaggression.