Numerous studies have demonstrated that workforces with greater diversity have the potential to be more profitable, innovative and resistant to disruptive market forces than less diverse workforces. For example, according to McKinsey and Company's Delivering Through Diversity report, "Companies in the top-quartile for ethnic/cultural diversity on executive teams were 33% more likely to have industry-leading profitability."
To reach the level of best in class for D&I, an organization needs to leverage a variety of methodologies, partnerships, and strategic insights to demonstrate why diversity is important in their workplace. Through their cooperative contract with OMNIA Partners, here’s how ADP turns "better" into "best" when it comes to accomplishing D&I objectives.
Diversity and Inclusion in Action
Buy-in from senior leadership
This starts with providing a vision that they can see, understand and get behind. It may be helpful to illustrate how D&I initiatives could alleviate organizational pain points, such as high turnover for women in leadership roles or low engagement/organizational sentiment scores for underrepresented demographic groups. Senior leadership should hold their teams accountable for working to achieve positive HCM metrics that are enabled by D&I goals.
Using data to inform efforts
Data should be used to make decisions that may affect the health of an organization, and issues of D&I are no exception. Some types of data that organizations should focus on in this regard include:
☑️ Hiring and promotion statistics for minority groups
☑️ Retention rates by demographic to assess disparities between majority and non-majority groups
☑️ Engagement level scores and results from culture surveys reviewed by demographic and geography
☑️ Employee demographic data, with a focus on reviewing the differential between majority and non-majority populations
Having champions throughout the organization:
Champions’ objectives are to influence others and share best practices, serve as role models and mentors, and help hold others accountable. Champions help amplify an organization's D&I efforts considerably.
Going from "Better to Best"
The best organizations embody an inclusive culture that extends beyond the D&I function. Their leaders drive performance and innovation by demonstrating to their employees and to the world that people belong and are integral to the organization's purpose.
Learn more about how your organization can embody diversity and inclusion practices to go from better to best through ADP with OMNIA Partners.
About ADP & OMNIA Partners
Available through OMNIA Partners, Public Sector, ADP offers a cooperative contract for participants to save time and money when it comes to payroll, HR, and managed business solutions. To view more OMNIA Partners cooperative contracts, click here.