eBooks

Diversity, Equity & Inclusion | www.opensesame.com | (503) 808-1286 | 11 Measuring systems are an essential part of every organization, from tools to monitor financial performance to analytic software designed to track marketing objectives and customer satisfaction. Diversity, Equity & Inclusion programs must also be evaluated for effectiveness to be improved and to evolve to meet continuing needs. DEI data is not just for tracking the impact of programs on employees; ideally, a variety of metrics are used to define target goals for the organization, pinpoint risk and mete out accountability. The presence of metrics can also compel employers to remain committed to DEI work, especially if financial ROI is tracked. Without specific data, there is no guarantee of accountability and change; detrimental behaviors, attitudes and biased practices that may undermine the success of the organization will remain in place. For retailers, collecting, evaluating and leveraging data is what drives the business. Continually measuring consumer habits, preferences and ROI via metrics and KPIs is nothing new. Gathering and using DEI data is required in the same way; information ranging from employee sentiments to retention figures provide real-time proof of what is working and what isn't. But tracking data is not enough and surveys don't mean a thing unless there's change to match. For example, having specific DEI goals such as employee satisfaction or hiring practices and tying that data to a manager's responsibilities and performance is an effective means of assuring accountability. Technology and Tools Technology has a large role to play in enabling DEI learning platforms, from events to e-learning and pro- viding the means to connect employees to resources specific to DEI projects. For these efforts to work meaningfully organizations have to embrace the tec- nology available to them. The impact of tech on retail both pre- and post-pan- demic cannot be overestimated. From inventory man- agement software to artificial intelligence (AI) driven by big data analytics, retail technology is changing the way merchants do business and manage talent. And yet despite technology's ubiquitous relationship to modern day business only 23% of organizations use it for DEI implementation. 1 Tech leaders can bring about change by designing the kinds of solutions needed to bring more people into DEI practices. With their expertise and vision data collection can be reconfigured to meet the nuanced needs of DEI metrics. They can also create platforms that become part of an organization's technology suite that employees use daily, embedding DEI into longterm processes. STRATEGY 5 Measure, Evaluate and Evolve Metrics provide objective, fact-based data that can take the emotion and ambiguity out of DEI plans and place the focus on results. 12% Employee engagement and retention 19% Learning and development 43% Talent acquisition 26% Analytics Source: "Diversity & Inclusion Technology: The Rise of a Transformative Market." RedThread Research and Mercer. February 2019. DEI TECH FOCUS Tech solutions using advanced analytics can bring insight into four specific areas of HCM: talent acquisition, advancement, well- being, and retention. 1 Brandon Hall Group, Diversity & Inclusion Benchmarking Study, 2020.

• Cover