Data and analytics are key to unlocking meaningful impact on DEI progress, but not all organizations take full advantage of the opportunity
New York, September 27 February 2022 /PRNewswire/ — If companies neglect to use data-led analytics to gain insight into their organizational culture, they are missing out on improving diversity, equity and inclusion (DEI), according to a study released today by Genpact Huge opportunity for significant progress (NYSE: G), a global professional services firm focused on enabling digital transformation.
This research, Tech for Progress 360: Taking Diversity, Equity, and Inclusion from ambition to reality, Gather insights from 510 senior executives at large global companies across industries. The study found that companies that embedded diversity, equity and inclusion senior executives in their businesses—inclusion frontrunners—are better equipped to take advantage of their companies’ recent technology investments and changing workplace patterns.
Over the past few years, the pandemic and racial protests have focused the organization’s attention on DEI. Nearly all executives surveyed (95%) say their companies have accelerated the rollout of digital technologies in response to the pandemic. Likewise, the pandemic has forced companies to embrace remote work, which respondents said has had a net positive impact on advancing the company’s DEI goals. While remote work also increases women’s responsibilities and the likelihood of burnout, if companies adapt to a hybrid work environment, they have the opportunity to build on the positives.
Despite the advantages of technology and new work models, many companies still struggle to make progress on DEI, but can learn from more advanced companies. Genpact’s research found that Inclusion Front Runners use their capabilities with data and insight to gain insight into the complex cultural elements that are at the heart of fully embedding DEI across all activities, decisions and goals. These organizations are:
- Evolving corporate culture: Half of Inclusion Leaders use data-driven insights to understand their company culture and look for opportunities to grow them, compared to just 28% of the rest of the respondents. Without this cultural insight, the DEI program will not bring about profound change within the organization.
- Nurture the network: Inclusion Leaders also understand that the makeup of people’s networks is a key measure of diversity or inclusion in their organization. These executives were more interested in assessing the strength of their employees’ professional networks (people with whom employees often and infrequently contact) — 51% of leaders analyzed these insights, compared to 35% of other respondents.
The report highlights the power of technology to provide transparency and insight into key DEI issues. Meanwhile, if companies fail to leverage their data and analytics, this research raises alarming alarms and identifies how many businesses are still struggling to take actionable steps to:
- Recruitment and retention: When looking at the career life cycle of people in underrepresented communities, only 40% of executives say their companies use data and insights to improve their ability to recruit and retain these groups—and only 25% of executives do so To promote and train them.
- reduce bias: Technology and data are powerful tools for reducing bias in decision making, yet only 40% of respondents say their companies use technology in this way.
These findings suggest that more businesses will benefit from using data-driven insights to embed DEI at all levels of their organization and go beyond the surface of diversity-related data, such as reporting the number of employees from underserved communities.
For example, by measuring employee behavior — people’s interactions and other forms of communication — and organizational metrics such as promotion and turnover rates, companies can gain a deeper and more realistic view of their DEI achievements and what actions they need to take to generate significant Impact. For example, they can go from simply tracking new hires to gaining insight into who is involved in projects, who is making decisions, and which groups are participating in meetings.
Analyze relevant data from a fixed number of emails, instant messages, meeting invitations and more from your business. It can be proven that representation is a reality at every level of the company. When organizations can also track employee career journeys to compare experiences and changes in engagement and networking opportunities with company leaders, they can do so based on a realistic view of company culture and progress toward building a truly diverse, equitable, and inclusive business. make decisions.
“Access to learning, mentoring, networking and training to help people grow should be evenly distributed, but often this is not the case,” said Heather WhiteChief Legal Officer of Genpact and Global Head of DEI. “Some groups still find it more challenging than others. Combining a change in mindset with analytics and digital solutions can unlock greater equity.”
The report, conducted in partnership with Fortune Brand Studios, is the last of a three-part series, Technological Progress 360, analyzing how companies are using technology to drive impact beyond the bottom line. The study examines how businesses are working toward three distinct goals: enhancing the employee experience; achieving environmental sustainability; and achieving diversity, equity, and inclusion.
For more information, see https://www.genpact.com/tech-for-progress/diversity-equity-and-inclusion.
Genpact and FORTUNE Brand Studio for US, UK, Germany, Australia, Japanand Canada In fall 2021, examine how companies are using technology beyond profit by examining progress towards three distinct goals: Enhancing the employee experience; Strengthening communities through diversity, equity and inclusion; Protecting the environment with approximately 30% of respondents Hold C-level positions, with the remainder at the director level or above. Respondents represented finance, IT/technology, supply chain/procurement, operations/production, compliance/risk, general management, digital innovation, business transformation, sales, marketing and HR.The company’s annual revenue reported by all respondents was $1 billion or higher.
Genpact (NYSE: G) is a global professional services firm dedicated to business transformation. Guided by our purpose—the relentless pursuit of a better world—we drive digital-led innovation and deliver digitally intelligent operations to our customers. Guided by our experience reinventing and running thousands of processes for hundreds of clients, many of which are global Fortune 500 companies, we drive real-world transformation at scale. We think with design, dream with numbers, and solve problems with data and analytics. Combining our expertise in end-to-end operations with our AI-based platform, Genpact Cora, we focus on the details—we have over 100,000 people in total. From New York to New Delhi and more than 30 countries in between, we connect every dot, reimagine every process, and reshape how companies work. We know that reimagining every step from start to finish creates better business outcomes. Whatever it is, we’re here with you—accelerating digital transformation to create bold, lasting results—because transformation happens here. Get to know us at Genpact.com and LinkedIn, TwitterYouTube and Facebook.
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