HRO Today June 2018 - 13

Special D&I Report
Building the Business Case for Diversity
A diverse and inclusive workplace has a long list of benefi ts.
Ethically diverse companies are
35%
more likely to fi nancially
outperform their peers.
Source: McKinsey and Company
The U.S. could add
$4.3millon
to its annual GDP if women were to attain
full gender equality in the workplace.
Source: McKinsey and Company
starts with a commitment from a company's senior-most
executives to acknowledge diversity as a critical driver
of fi nancial performance and a requirement for success
and sustainability, " says Silvia. " Voya, I believe, has been
a leader in demonstrating how companies that hold
themselves to a certain standard of diversity succeed and
are the best places to work. "
* Measure what matters. Diversity metrics have evolved
beyond the traditional approach of setting hiring quotas.
But showing success still remains important to future
growth and investment in programs. Considering that a
survey from Allegis Group Talent Advisory fi nds that only
37 percent of organizations have diversity hiring goals, the
time is now for organizations to reconsider their metrics.
A New World of Diversity and Inclusion whitepaper from
Allegis Group suggests:
o To drive inclusion in the employee experience, track
employee satisfaction survey scores.
Organizations with mature diversity programs achieve
2.3times
1.7times
Source: Bersin
o To reduce bias in promotion, compensation, or
development opportunity, review employee retention
rates.
o To identify barriers to promotion, measure the diversity
of employees by management and leadership positions.
o To measure pay inequity and bias in promotion
decisions, track employee compensation by role.
* Constantly evolve. " Our efforts to further expand
diversity and our inclusive culture are strengthened
by what we've done in the past, " says Fletcher. " We
have instituted a number of programs focused on our
workforce, workplace, and the communities that we
serve-such as a hiring strategy for diversity, unconscious
bias training, and employee resource groups to further
propel our diversity and inclusion efforts. It is these actions
and our transparency on where we are and where we
want to go to continually build a better culture of equality
that's making our company truly diverse. "
JUNE 2018 | www.hrotoday.com
[13]
higher cash fl ow per employee and are
more innovative.
http://www.hrotoday.com

HRO Today June 2018

Table of Contents for the Digital Edition of HRO Today June 2018

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