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Make the most of data in your DEI journey

• By Sonali Vanza
Make the most of data in your DEI journey

When the pandemic hit all of us in 2020, many of us had the privilege to move our workplace to our home and had time to introspect. This also proved to be a time when organizations went into their own introspection mode and one subject which was not in focus for many years and came in the limelight was: DEI (Diversity, Equity, and Inclusion).

While DEI is a common buzzword in many corporate articles now, many fail to comprehend its exact meaning. I had heard this party analogy on DEI somewhere which made it easier for me to understand the subtle difference.

“Diversity is like getting invited to a party, inclusion is contributing to the playlist and equity means getting an opportunity to dance.”

The spotlight now shines brightly on DEI. It’s become an integral part of every company’s vision and strategy. It has also become a critical part of the increased focus and alignment of corporate Environmental, Social, and Governance (ESG) strategies as DEI initiatives fall under the Social and Environmental components. The driving force for this paradigm shift in perspective is primarily due to data and technology. Almost all companies dug deep into their own workforce data and put forth on the table insights into their gender ratios in the workforce, hiring, pay parity, promotions, rewards, growth opportunities, benefits and more. These insights were ably complemented by the research articles provided by universities, consulting companies and academicians. 

While DEI is in focus now, we will need to continue to harness technology in the future to make DEI a sustainable reality. Delving deeply into your workforce data and enabling technology toward achieving this, can help you in approaching DEI in a better manner.

Below are some points where data and technology can add genuine value: 

DEI goes beyond gender, it’s about valuing and respecting differences, diverse opinions, and varied but distinct values. Leveraging data along with key technology tools at our disposal will help companies design innovative and sustainable solutions to celebrate and promote diversity and reduce the imbalance in roles in the corporate world.