DEI progress takes more than a statement

In May 2020, the murder of George Floyd ignited worldwide outrage, prompting numerous corporate entities to make commitments to diversity, equity and inclusion.

However, as we fast forward three years, there is a prevailing sentiment that these commitments have yielded little or no tangible progress.

In January, Black Entertainment Television co-founder Robert Johnson, the first Black billionaire in the U.S., characterized these efforts as “press release announcements with no results.”

The current demand from organizations committed to DEI is apparent: “Actions speak louder than words.” A survey by Harvard Business Review reveals a stark contrast. While 97% of HR leaders claim their organizations have made changes benefiting DEI, only 37% of employees strongly agree that their workplaces have improved DEI. What’s more concerning, an additional 34% of employees are unsure if their leaders are enacting DEI-related changes.

These disparities between leadership and employees pose a significant problem if companies aim to advance impactful DEI initiatives. Something isn’t working. Without proper progress monitoring, the harsh reality is that DEI efforts will fall short, resulting in no actual workplace or organizational inclusivity progress.

So, what’s the solution? How can organizations move forward and foster lasting, impactful change?

Since 2021, New Hampshire Businesses for Social Responsibility (NHBSR) has conducted a Diversity, Equity, and Inclusion Challenge for workplaces in New Hampshire and beyond, involving more than 2,000 participants.

What’s particularly significant is that NHBSR’s Board recognized the need to hold themselves accountable and measure their progress in becoming a more diverse and inclusive organization earlier this year.

Their commitment goes beyond supporting inclusivity in New Hampshire businesses; they are leading by example and challenging themselves to leverage data analytics in evaluating the success of their programs and DEI initiatives.

The bottom line is that merely issuing a diversity statement and posting it on your website no longer is sufficient. The demand today is for evidence of concrete actions and progress.

According to a LinkedIn study, 76% of employees and job seekers consider diversity important when evaluating job offers; 60% of employees wish to hear business leaders address diversity issues; and 80% of survey respondents express a desire to work for a company that prioritizes DEI matters.

Employees are making it clear that working for an inclusive organization is at the top of their list.

Companies that fail to create truly inclusive workplaces will struggle to hire and retain top talent, posing a significant financial threat to their ability to innovate, be creative, boost productivity and increase revenue.

Implementing inclusive strategies and initiatives is challenging, underscoring the vital role of measuring progress.

It’s high time for organizations to take a bold step and hold themselves accountable when they fall short of their DEI objectives. Leveraging DEI analytics is becoming increasingly essential for organizations genuinely committed to inclusivity. Measuring progress allows you to understand areas that still need improvement and what is genuinely working.

This helps achieve long-term success by providing the necessary insights to refine strategies and ensure that DEI efforts have a lasting, positive impact.

Numerous studies from reputable research institutes, such as McKinsey and Company and Pew Research, consistently demonstrate the compelling business case for creating inclusive workplaces.

The reality is that the world is evolving, with an increasing richness of diverse perspectives and individuals. Organizations that fail to adapt to this changing landscape will be left behind.

The time to act is now — hold yourselves accountable, monitor DEI progress and make necessary adjustments. If you commit to it, ensure you mean it!

Flo Nicolas, Esq., is the co-founder and COO of DEI Directive, a technology company offering a comprehensive DEI intelligence platform. The Sustainability Spotlight is produced monthly for NH Business Review by New Hampshire Businesses for Social Responsibility, a nonprofit organization that convenes, inspires and supports businesses and their community stakeholders to build a more sustainable and prosperous state for all. To learn more, visit NHBSR.org.