Advancing Diversity, Equity, and Inclusion into company values and practices is easier said than done. It takes work. It takes intentional action, collective agreement and renewed mindset and behavior shifts that include awareness to unlearn old patterns and adopt new ones.
In the case of one of our clients, tying DEIB metrics to a leader’s ability to earn their bonus is one way to motivate achievement in this area.
Here’s the story.
As a technology company, attracting women and diverse talent is challenging, particularly in areas of data science and analytics. For this client, they currently had 43% females and their goal was 50%. So they created targets for each functional area and tied bonus goals toward achieving this goal.
At first, leaders were resistant. Yet the CEO believed that in order to gain focus and dedication to a core achievement the company feels important, compensation becomes an important motivator.
As a result, leaders assured that not only existing female talent was recognized and supported, but they went to extra lengths to attract female candidates, particularly women of color.
HR complaints are down, employee satisfaction is up, and performance (both bottom line and innovative) are breaking records. This company’s market position is untouchable now.
Without divulging all of our process, here are some ways you might consider tying DEIB initiatives to your compensation packages to radically regenerate your workplace culture… and outcomes:
👉 Do a workforce review of your employees by level, gender and cultural background. What does the data reflect your values?
👉 Identify where your company can include more diverse representation. Are there opportunities to expand hiring in certain areas to improve the overall diversity of talent base in your organization?
👉 Create a focus and assign specific metrics to building your target area. Select 1-2 key areas of focus and assign goals. For example, grow representation by women from 43% to 50%.
👉 Once goals are identified, assign achievement of these goals to every leader and manager by attaching achievement of these goals to their performance and bonus plans.
👉 Create hiring guidelines to attract top talent and provide internal opportunities for existing talent to contribute, lead, and be assigned to important projects.
👉 Track progress monthly on goals
We invite you to challenge your perceptions: what if—in addition to education and experience—your organization gained an edge by making room internally for diverse people and their earned perspectives?
The Question Is...
- Does your company reflect the diversity of your customer or end user?
- Are you able to attract top talent with your existing hiring practices and internal brand?
- How might diverse experiences contribute to innovation, market relevance, and fuel your growth as a company?