Article by Anju Rakesh & Athira Premarajan
In its span of a few years since gaining popularity, the concept of inclusion has global recognition and acceptance. With an impressive number of research results fed into the internet and the likes, the impact of ‘Diversity and Inclusion’ (D&I) is being widely discussed in this digital era. With strategies employed towards employee happiness and people management in the best of manner, it is supported by both parties – the provider as well as the beneficiary.
The number of organizations adopting D&I policies have grown with respect to business, people, and efficiency, at a pace much faster than the ones yet to alter organizational foundation basis the concept. Diverse organizations tend to have 35% improved productivity and revenue, as per the prominent research report from McKinsey, thus, giving an answer to the topic in focus! But it is imperative to understand the constituents to have a comprehensive idea, so as to implement this dynamic process to reinforce the workforce towards quality outcomes. Outlined here are a few impact markers that organizations planning to measure inclusion should necessarily not miss:
- Impact of Policies:
Organizational data is aplenty with regards to people practices and policies. It is about spinning the data web intelligently, to decipher policy impact, specifically on diversity strands. Following standardised structures and templates to capture employee experience around policy impact, can help produce significant insights to improve policy inclusion.
- Extent of Belongingness:
Human minds are receptive to positive environ, which will contribute to their creative and productive aspects to gain momentum. The feeling of existing in a welcoming and valued workspace that fosters belongingness can, in fact, increase their commitment to optimum, directly contributing to organizational success. A 2019 survey by BetterUp found that belongingness leads to a 56% increase in job performance, a 50% reduction in turnover risk, and a 75% decrease in employee sick days.
Using AI technologies to measure the extent of belongingness, also via mining employee sentiments in the official environ, is a fast being-adopted trend.
- Wage Parity
Research shows that under-represented groups are traditionally under-paid and there exists heavy skews, making wage parity an objective aspiration for many companies. It is important to regularly audit and benchmark parameters around compensation to ensure this aspect is not overlooked, which could serve as a severe inclusion deterrent. While internal benchmarks are important, conducting periodic market benchmarks can also ensure this goal is pursued.
- Slant of communication
Discerning organizations of today issue a slew of communications, internal and external towards branding and marketing. To consciously be inclusive, it is important that all such communication collaterals are audited to check for sensitivity, non-discrimination and inclusion. This is important to reinforce a company’s inclusion intent not only within the employee network, but also to all external stakeholders – customers, clients and suppliers.
So why wait? Embark today on a more intentional journey on measuring inclusion. Want to know how some of the most inclusive companies in India are slaying it? Register here to participate in India’s largest D&I conclave – https://www.avtarinc.com/events/eventsdetails/bob2020