Gender equality is a fundamental human right and the critical foundation for a more peaceful, prosperous, and sustainable world. Gender parity has taken centre stage for many companies who are striving to be responsible corporate citizens committed to playing their part in achieving the UN Sustainable Development Goals.
However, women continue to earn less money than male counterparts, have fewer opportunities for promotion and development, and are still subject to workplace abuse. This is despite the fact that the value of gender leadership parity has been well documented for several years.
The case for data-driven D&I
Historically, a haphazard approach to gender parity in companies has not shown any real sustainable change in the long run. Instead, relying on people data seems to be the most effective approach.
A study conducted by Visier of over 100,000 employees in 15 companies showed that people data improved the female leadership ratio to males by 4%, and improved retention of female leaders by 3.7%. The question we now need to consider is not if people analytics will improve diversity and inclusion in companies, but how it can improve it.
5 ways people data improves diversity and inclusion
Here are five concrete ways that structured people data can improve gender parity and diversity and inclusion initiatives.
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It provides certainty and accuracy: Without people data and analytics, companies play guessing games to ascertain what the current gender balance landscape looks like, what contributes to the success or failure of diversity and inclusion initiatives, and whether or not any real measurable change has taken place. Data replaces guesswork with evidence.
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It tells you where D&I initiatives would have the biggest impact: Having a broad understanding of a company's diversity landscape is useful, but people data provides a more granular view of different business units that highlights specific places where diversity may be lacking or concentrated. This allows you to direct resources where they will have the most impact.
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It empowers HR and executives: People data allows key stakeholders to have robust, confident discussions about the diversity and inclusion talent pipeline and ensures that these are kept top of mind. When the data is clear, the conversation becomes easier.
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It focuses coaching and development initiatives: Coaching and development initiatives need to continue to focus on the C-Suite level in order to break through the glass ceiling and make progress on gender leadership parity. In addition, there should be an intense focus on coaching and developing a pipeline of entry to mid-level women in order to overcome the 'broken rung' of the corporate world.
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It enables accountability: What gets measured gets managed. When D&I metrics are tracked and reported alongside business performance metrics, they receive the same level of attention and accountability. Data makes it harder to deprioritise D&I when other pressures mount.
Coaching and the leadership pipeline
If we want to see profitable and positive workplaces, and if we seriously want to contribute to achieving gender equality goals, then people data and analytics are of the utmost importance.
The most effective D&I strategies combine data with targeted development. Identify where the pipeline breaks down - whether at entry level, mid-management, or the C-Suite - and design coaching and development interventions that address those specific gaps. Data tells you where to focus. Development programmes deliver the change.