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DIVERSITY
DATAGUIDE2024
Guidanceonthecollectionanduseof
datatoenhanceworkforceEDI
July2024
ABOUT
THEINVESTMENTASSOCIATION(IA):
TheIAchampionsUKinvestmentmanagement,supportingBritishsavers,
investorsandbusinesses.Our250membersmanage£8.8trillionofassetsand
theinvestmentmanagementindustrysupports126,400jobsacrosstheUK.
Ourmissionistomakeinvestmentbetter.Betterforclients,sotheyachievetheirfinancial
goals.Betterforcompanies,sotheygetthecapitaltheyneedtogrow.Andbetterforthe
economy,soeveryoneprospers.
Ourpurposeistoensureinvestmentmanagersareinthebestpossiblepositionto:
•Buildpeople’sresiliencetofinancialadversity
•Helppeopleachievetheirfinancialaspirations
•Enablepeopletomaintainadecentstandardoflivingastheygrowolder
•Contributetoeconomicgrowththroughtheefficientallocationofcapital
Themoneyourmembersmanageisinawidevarietyofinvestmentvehiclesincluding
authorisedinvestmentfunds,pensionfundsandstocksandsharesISAs.
TheUKisthesecondlargestinvestmentmanagementcentreinthe
world,aftertheUSandmanagesoverathird(37%)ofall
assetsmanagedinEurope.
DIVERSITYDATAGUIDE
CONTENTS
IAFORWARD04
PwCINTRODUCTION05
BACKGROUND:THEEVOLVINGREGULATORYLANDSCAPE06
SECTION1:IMPROVINGTHEQUALITYOFYOURDATA08
IMPROVINGENGAGEMENTANDBUILDINGTRUST
SECTION2:USINGDIVERSITYDATATODEVELOPEDISTRATEGIES,
INTERVENTIONSANDTARGETS12
EMPLOYEELIFECYCLEANALYSIS
INCLUSIONANDCULTUREANALYTICS
DETERMININGSTRATEGIESANDINTERVENTIONS
HOWTOSETDIVERSITYTARGETS
SECTION3:MONITORINGEDI:
MANAGINGRISKSANDBUILDINGACCOUNTABILITY15
WHATAREEDIRISKS?
ACCOUNTABILITYANDGOVERNANCEFOREDI
CONCLUSION17
3
THEINVESTMENTASSOCIATION
IAFORWARD
Cultivatingarobustworkplace
cultureisanindustrypriority,given
thedirectlinkbetweenhealthy
culturesandpositivebusiness
outcomes.Inrecentyears,firms
haveevolvedtheirapproachto
equity,diversityandinclusion(EDI)
drivenbyincreasedcustomer
expectations,societalchangesand
emergingregulatorymandatesfrom
governmentandregulators.Asa
result,thereisastrongeremphasis
ondiversitydatacollection,enabling
firmstogaindeeperinsightsinto
theirworkforcecompositionand
accuratelyreportonit.
Firms,fromlargemultinationalstosmallerboutiques,
areseekingtoimprovetheintegrityandqualityoftheir
diversitydatatoensureitaccuratelyreflectstheir
workforce.Thisfocusallowsformeaningfulanalysisto
informstrategies,interventionsandprocesses,aswell
astotrackprogressovertime.Achievingthisrequires
encouraginghigheremployeeresponseanddisclosure
rates.InsightsfromourcomprehensiveEDISurvey
indicatethatsubstantialdevelopmentisstillneeded
inthisarea.
WorkinginpartnershipwithPwC,ourdataguideoffers
practicalsupporttoourmembersinimprovingthe
accuracyandreliabilityoftheirworkforcedata.Tailored
forfirmsofallsizesandatvaryingstagesintheirdata
collectionjourney,thisguideprovidespracticaltools
andguidanceforimproveddataintegrityandanalysis.
Amidsttheevolvingregulatorylandscape,ourguide
aimstohelpyounavigatethedatacollectionand
analysisprocesssmoothly,ensuringyourfirmis
well-preparedforcurrentandfutureregulatory
requirements.
Wesincerelythankourmembersfortheirvaluable
participationinhelpingtoshapeourguide.
KarisStander
Director-Culture,Talent&Inclusion,
MDInvestment20/20
TheInvestmentAssociation
4
DIVERSITYDATAGUIDE
PwCINTRODUCTION
In2021,PwCUKandtheInvestmentAssociation(IA)
createdaDiversityDataGuidethatprovidesguidance
fororganisationsbeginningtheirdiversitydata
journeys,including:
challengesastheirjourneyprogresses,suchashow
toincreasedisclosureratestogainmoremeaningful
analysis,andhowtomosteffectivelyusetheirdatato
createtailoredandtargetedactionplans.
•Whyshouldorganisationscollectdiversitydata?
•Canorganisationscollectdiversitydataandwho
shouldbeinvolved?
Withthisinmind,PwCandtheIAhaveworkedtogether
todevelopthisguideinordertorespondtomember
feedback,andprovidedeeperinsightsinlightofthe
changingregulatorylandscapeon:
•Whatprocessshouldorganisationsfollowwhen
gatheringthisdata?
•Whatdatashouldorganisationsbecollecting?
•Howdoorganisationsanalysethisdata?
•Improvingyourdataquality:Strategiesto
enhancedisclosureandimproveresponserates
througheffectivecommunicationandcross
stakeholdercollaboration.
•Howdoorganisationsrespondtothisdata?
Intheyearssince,thelandscapehasshifted:evolving
regulation,marketnormsandpublicperception
haveallmeantthatEDIhascontinuedtoriseupthe
agenda.Asaresult,manyorganisationsarefacingnew
•UsingdiversitydatatodevelopEDIstrategies,
interventionsandtargets:Guidanceonusingthe
datayou’vecollectedeffectively,todetermineyour
actions,developyourstrategyandbuildaclear
narrative.
•MonitoringEDIasabusinessrisk:Guidanceon
capturingEDIrisksandusingdiversitydatato
effectivelymonitorandgovernactivities.
WewouldliketothanktheIAforcontinuingtodrive
forwardthisimportantagenda,andthemembersof
theIA’sDiversityDataWorkingGroupwhocontributed
theirexperiencesandthoughtstohelpshapethis
document.Fororganisationsattheearlystagesof
theirdiversitydatajourney,orforthoselookingfor
areminderofcertainaspects,werecommendalso
readingourinitialguide.Wehopethisguideisauseful
toolfororganisationscontinuingtoprogressontheir
diversitydatajourney.
5
THEINVESTMENTASSOCIATION
BACKGROUND:THEEVOLVING
REGULATORYLANDSCAPE
TheUKfinancialservicesregulatorshaveproposed
wide-rangingandcomprehensiveDiversityand
Inclusion(D&I)regulations.InSeptember2023,
theFinancialConductAuthority(‘FCA’)andthe
PrudentialRegulationAuthority(‘PRA’)published
twoconsultationpapers(‘CPs’)settingouttheir
proposalstointroduceanewregulatoryframework
onD&Iinthefinancialsector.ThetwoCPs,whichare
broadlyconsistent,setoutproposedreportingand
targetsettingrequirements,alongsideexpectations
toembedD&Iintoriskandgovernanceframeworks
(acomprehensivesummaryoftheproposed
regulationscanbefoundhere).
Theseproposedregulationsmayimpacthow
organisationscollectandreportondiversitydata.For
firmswithover250employees,thisincludescollecting
andreportingondataforage,sexorgender,ethnicity,
disability,sexualorientationandreligion.Voluntary
disclosureisrecommendedforgenderidentity,socio-
economicbackground,parentalresponsibilitiesand
carerresponsibilities.Firmswouldalsoberequired
toannuallyaskemployeessixspecificinclusion
questionsandpublishresponses.Itshouldbenoted
thatsincethepublicationoftheCPs,followingthe
recommendationsoftheTreasurySelectCommittee
Inquiryinto‘SexismintheCity’,theFCAandPRA
haveindicatedthattheywillbeprioritisingthenon-
financialmisconductelementsoftheirCPsaheadof
requirementsondiversitydatareportingandtargets.
However,diversitydatareportingandtargetsremaina
priorityformanyfirms.
Whileregulatoryproposalstargetfirmsoverthe250
threshold,it’simportanttonotethatdatacollection
effortsextendbeyondthisthreshold.Infact,firms
outsidetheregulatoryscopearealreadyactively
engaginginemployeedatacollection.Nearly50%of
therespondentstotheIA’sEDIDataSurvey,donein
partnershipwiththeThinkingAheadInstitute,fellbelow
the250threshold.TheCPsemphasisethatD&Ishould
beconsideredanon-financialriskandtreatedassuch
inexistingriskmanagementprocesses.Riskandcontrol
functionsmayplayaroleinmanagingtheserisksand
ensuringeffectivecompliance.Thisfurtheremphasises
theneedforqualitydata,whichcanbeeasilymonitored
andmaintainedtohighstandards.
RegulationsbeyondtheFinancialServicesindustry
arealsopayingmoreattentiontoEDIthanever
before.Diversityreportingisexpandingtoinclude
awiderrangeoffactorsbeyondgender,withsome
organisationsadaptingtheirdatacaptureandanalysis
toalignwithglobalpracticesandstandards.Thegraph
belowhighlightsanumberofthesekeydirectivesand
regulation,bothincomingandcurrent.
UKgenderpaygap
reporting
Internationalsustainabilityreporting
frameworks(CSRD,ISSBandSEC)
Genderspecific
TheFTSEWomen
LeadersReview
EUpaytransparencydirective
Includingbroader
diversity
FCAlistingrulesondiversity
representationonBoardsandExCo
Investorguidance
UKethnicityanddisability
TheParker
paygapreporting
Review
Voluntaryglobal
sustainabilitydisclosures
DE&Ireportingstandards/
bestpracticeframeworks
FCAandPRAdiversityand
inclusionregulation
Key:MandatoryVoluntarySectorspecificAnticipated
Source:PwC
6
DIVERSITYDATAGUIDE
Keyexamplesinclude:
•TheCorporateSustainabilityReportingDirective
requiresabroaderrangeofdisclosuresregarding
diversity.Beyondgender,thelegislationalsoincludes
disclosurerequirementsonthepercentagesof
employeeswithdisabilities.Subjecttomateriality
assessments,theserequirementsmayresultin
organisationsneedingtocollectand/orimprovetheir
disclosureratesfordisabilitydata.Theseregulations
willaffectmanycompaniesacrosstheworlddueto
thebroadscopeofthelegislationandgroupreporting
requirements.
•TheEUPayTransparencyDirectivewillrequire
organisationswithanyworkersinEUmemberstates
toimplementaseriesofmeasurestoensurepay
transparency.Theseincludeexternalgenderpaygap
reporting,internalequalpayassessments,employees
havingtheabilitytorequestinformationonindividual
paylevel,prospectiveemployeesbeingableto
requestpayinformationandadditionaldisclosureson
compensationstrategy.TheoverallaimoftheEUPay
TransparencyDirectiveistoincreasetransparency
acrosstheEU.
•TheParkerReviewaskinglistedandlargeprivate
companiestosettargetsfortheproportionoftheir
seniormanagementwhoarefromanethnicminority
background
Tocomplywiththeseproposedregulations,firmsmay
needtobroadenthecollectionoftheirdiversitydata,
whilealsoensuringthattheyhavesufficientresponse
ratestocarryoutmeaningfulanalysisanddisclosures.
Theywillthenneedtobeequippedtoanalysethis
data-inordertodetermineactions,setstrategiesand
buildmeaningfulnarrativestosupportanydisclosures.
Manyorganisationsaregoingbeyondthesemandatory
oranticipatedrequirements,andaremakingadditional
voluntarydisclosuresonrepresentation,paygapsand
EDItargets.
•TheLabourgovernmenthaveindictedthattheywill
introducemandatoryethnicityanddisabilitypay
reportingforlargerfirms,alongsiderequirements
todevelop,publishandimplementactionplansto
closegenderpaygaps.Whiledetailsandtimingsof
thishavenotbeenprovided,nowthatLabourhave
formedagovernment,firmsshouldanticipatefuture
regulationhere.Thismayrequireorganisations
tostartcollectingand/orimprovetheir
disclosureratesfordataonethnicityanddisability.
7
THEINVESTMENTASSOCIATION
SECTION1:IMPROVING
THEQUALITYOFYOURDATA
Thevoluntarynatureofdiversity
datacollectioncanmeanthatthe
proportionofemployeeswhohave
sharedtheirdiversitydatamaybe
relativelylow.Thismeansthatthere
maybegapsinthedata,making
analysis,year-on-yearcomparisons
andstrategydevelopmentmore
challenging.
TheIA’s2023industry-wideEDIDataSurveyidentified
thetoptwochallengesincollectingemployeedataas
concernsarounddataprivacy,andlackofengagement.
Alongsidethis,specificpersonalattributesoften
havelowerresponserates.Thiscanbeattributedto
unfamiliaritywithrequestsforpersonaldatabeyond
thetraditionalcategoriesofageandgender,discomfort
withsharingpersonalinformationinaworkcontext,
anduncertaintyabouthowpersonaldatawillbeused.
Characteristicshistoricallycollectedduringhiringand
onboardingprocessestypicallyhavehigherratesof
personaldisclosure.
Tounderstandwhatmightbedrivinglowresponse
rates,itisadvisabletobeginwithananalysisofthe
datayoualreadyhave.Forexample,ifahighproportion
ofpeoplechoose‘prefernottosay’,thislikelyindicates
alackoftrustwhensharingpersonalinformation.
Whereas,ifemployeeshavenotloggedintothe
systemtoentertheirdata,itmayindicatealackof
engagement.Itwouldbehelpfultogatherfeedback
fromemployees,suchasviafocusgroups,tobetter
understandanyconcernsorhurdlestheymighthave
aroundprovidingdata.
Anongoingchallengeofdiversitydatacollectionis
establishingbothengagementandtrustwithinthe
workforcetoencouragethemtosharethisdata.
CHART1:TOPCHALLENGESINCOLLECTINGDIVERSITYDATAFROMINDIVIDUALEMPLOYEES
Concernsoverdataprivacy76%
47%Apathy
Concernsoverreprisalordiscrimination38%
Timeconstraints31%
LackofemployeesupportforachievingEDIobjectives22%
Wedonotfaceanychallenges/barriersincollecting
diversitydatafromemployees
13%
33%Other
TheIA’s2023industry-wideEDISurveyidentifiedthetoptwochallengesin
collectingemployeedataasconcernsarounddataprivacyandapathy.
Source:TheIA2023industrywideEDISurvey
8
DIVERSITYDATAGUIDE
CHART2:RESPONSERATESACROSSATTRIBUTESFORFIRMSCOLLECTINGTHEDATA
Age
94%2%4%
Gender
84%12%2%2%
Ethnicity
52%34%9%2%2%
Caringresponsibilities
31%46%15%8%
Religion/belief
27%50%9%14%
Disability
26%29%21%6%
18%
Sexualorientation
18%48%3%6%
24%
Neurodiversity
23%15%15%15%31%
Socio-economicbackground
29%19%10%14%29%
100%-80%80%-50%50%-20%20%-0%Notsure/Don'tknow
Forfirmscollectingdiversitydata,thereisgenerallyapositivecorrelationbetweentheoveralldata
collectionratesandresponserates.Thehighestcollectionratesaretypicallyseenforcharacteristics
historicallygatheredduringhiringandonboardingprocesses.
Source:TheIA2023industrywideEDISurvey
IMPROVINGENGAGEMENT
Wheretherearelowresponseratestodiversitydata
collectionefforts,anissuemaybelowengagement
levelswithparticipants.Thiscouldbedrivenbyalack
ofclearfeedbackandresults,oremployeesbelieving
thattherequestisnotapplicableorrelevanttothem.
Techniquestoaddressthisinclude:
•Demonstratingrelevancetotheindividual:
Communicatingthecompany’sEDIaimsplaces
itattheheartofthebroaderbusinessstrategy
andincreasesemployeeengagement.Targeted
communicationcanimprovethisbypositively
engagingwithemployeesonwhytheirdataisneeded
andhowitwillinformactionsandoutcomes.Work
withmanagementtobuildengagementinareaswith
lowerresponserates,andleverageemployeenetwork
groupswhereavailabletoincreaseengagementwith
specificgroups.
•Combattingsurveyfatigueandapathy:Connecting
yourHRsystemsandsurveyscanhelptoensurethat
employeesarenotrepeatedlyaskedtoprovidethe
sameinformation.Itcanbehelpfultoaskemployees
toprovidediversitydataattimeswhentheymight
alreadybeengagedinsharinginformation,for
example,asanewjoinerorwhencompletingannual
trainingactivities.
•Makeitsimpleandaccessible:Thetechnology
usedshouldbesmoothandsimpletouse,easily
accessiblefromarangeofdevices,andclearlyset
out.Linkstotherelevantportalshouldbeeasytofind
andrepeatedlyreferencedwithincommunications,
alongsidestep-by-stepguidanceandclearly
signpostedforms.
9
THEINVESTMENTASSOCIATION
BUILDINGTRUST
Tobuildhighresponseratesofaccuratedata,itis
crucialtobetransparentaboutwhyyou’recollecting
thisdata,andhowyouintendtouseit.Potentialways
toaddressthisinclude:
•Creatingengagementcampaigns:Driving
engagementviacampaignscanhelptobuild
enthusiasmandawareness.Internalmarketingtools
suchasscreensavers,onlinepromptsand‘count
mein’programmescanbeutilised.Engagingkey
employeestobecomeambassadorsfordiversity
datacollectioncanenableabridgebetweensenior
leadershipandemployees,providingtheworkforce
withavoice.Thisaccessibilitytothewiderworkforce
promotesamorecollaborativeapproachindriving
theseinitiativesforchange,whichcanimpact
diversitydisclosurerates.
•Leadingbyexample:Seniorstakeholders
communicatingwiththewiderworkforce,
explainingthepurposeofdiversitydatacollection,
canoftenincreaseengagementwithemployees.
Bysettingapositivetonefromthetopand
enhancingtransparencyoftheEDIagendaand
itsoutcomes,itcanbuildtrust.Havingsenior
leadershipcommunicatingthisstrategysignalsyour
organisation’sintentandcommitmentinternallyand
externally.Thisapproachshouldbecascadeddown
toteamleaderlevel,ascommunicationfromawell-
knownleaderisusuallymostimpactful.Oftenthis
canbedonethroughavarietyofwaysincludingemail
communications,videomessagesandQ&Asessions.
Similarly,regulardiscussionsofdatacollection
atteammeetingsortownhallsareagoodwayfor
leaderstodemonstratetheirfocusandcommitment
tothisexercise.
CASESTUDY:‘COUNTMEIN’DAY
“Wehelda‘CountMeIn’daylastyearacross
officesindifferentregions,butthiscanbe
doneevenifyouhaveasmalloffice.Weplaced
astandinourlobbywherepeoplewerecoming
throughandaskedthemtosharetheirdata.It
hadamaterialimpactonournumbers.Justby
talkingandengagingpeople’ssentimentasit
relatestotrustandlettingthemknowwhatwe
wereplanningtodowiththedataseemedto
seemtowork.”
10
DIVERSITYDATAGUIDE
•Howdatawillbeprocessedandprotected:
Provideclearinformationaroundhowthedata
canandcannotbeused,whocanseeit,security
measuresinplace,andhowitwillbetreated–
referencinganykeypoliciessuchasGDPR.Ifdatais
collectedviaaHRsystem,remindemployeesthatthey
canremovetheirdatafromthesystematanytime.
•Howthedataisused:Communicatehowthedata
willbeusedaspartofthebroaderstrategy,setting
outthenextstepsandtiming.Betransparentwith
yourfindingstodemonstratethisfollowthrough
andfurtherbuildtrust.Bylinkingthedatatoactions
aroundthebroaderpeoplestrategyandinclusion
efforts,employeescanseethatthedataisbeing
usedtosupportanddevelopthecompanyand
cultureasawhole.
Asdiversitydataisalmostalwayscollectedona
voluntarybasis,tobesuccessfulitisvitaltohave
aclearengagementplan.Gettinggoodresponse
ratescanbechallengingandsobuildingaclear
communicationsstrategyfromthestartwillbecritical
tosuccess.Identifyyourkeymessages,channelsand
stakeholdersandhowthesecanbeadaptedtoreach
differentemployeegroups.Establishingtrustiskeyto
drivinghigherresponseratesofaccuratedata.Inorder
toachievethis,itiscrucialtobetransparentaboutwhy
you’recollectingthisdata,andhowyouintendtouseit.
STAKEHOLDERSTOINVOLVE
Leadership–Boardlevelbuy-iniscrucial,as
itactsasaninternalandexternalsignalof
yourorganisation’sintentandcommitment.
Involvingseniormanagementinfirmwide
communicationscanhaveapositiveimpact
onemployeedisclosureasitdemonstrates
howthebusinessisprioritisingthecampaign.
Leadershipcanalsoensuretheactivityis
prioritised,resourcesareallocatedandinternal
challengesareovercome.
HR–HRhaveakeyroletoplayinbuilding
theinternalbusinesscase,ensuringthedata
collectioncampaignalignswithexistingEDI
initiatives,stakeholderengagementand
analysingandreportingonthedataasitis
collected.
HRSystems/InformationTechnology–Some
organisationswillhaveinternalteamswhocan
helpwithconfigurationofthesystemtocollect
data,whilstotherorganisationsmayneedto
liaisewiththeirITdepartmentoruseexternal
advisorstosupportthisprocess.
Legal,dataprotectionandcompliance–
Consultinternallegalprofessionals,data
protectionexpertsorexternallawyerstoensure
compliancewithrelevantdataprotectionand
employmentlegislation.Inaddition,involving
complianceteamstoensurealignmentwith
evolvingregulatoryrequirementscanassistin
compliance.
Forfurtherdetailonstakeholderstoinvolve,pleaseseemoreinformationhere.
11
THEINVESTMENTASSOCIATION
SECTION2:DEVELOPINGSTRATEGIES,INTERVENTIONSANDTARGETS
Regulatoryframeworksandmarket
practicesareevolving,expandingtheir
focusfromBoarddiversitytodeeper
withinorganisations.TheFCAandPRA
regulatoryproposalsmayrequirearange
ofdiversitydemographicstobecollected
throughouttheorganisation;theWomen
inFinancechartercallsforfirmstoset
gendertargetsforseniormanagement;
similarly,theParkerReviewasksfirms
tosetethnicitytargetsforsenior
management.
Settingeffectivetargetsoftenrequiresadata-driven
analysistounderstandthedemographiccomposition
ofyourfirmandidentifyanyfactorsthatmay
contributetorepresentationgaps,iftheyexist.This
analysishelpsassesshowtargetedinterventionsand
policiescanpotentiallyimproveequityinopportunity,
therebyadvancingrepresentationwithinthe
organisation.PwC’smethodologyanalysesboththe
employeelifecycle,aswellastheemployeeexperience
viainclusionandcultureanalytics.Thesecanbe
usedtohelpunderstandwhatisgoingonwithinthe
organisationandwhy,enablingthedevelopmentof
data-ledstrategiesandtargets.
EMPLOYEELIFECYCLEANALYSIS
Companiesshouldfirstunderstandthecurrentpositionand,ideally,historicemployeemovements,ifthatdatais
available.Bylookingatrecruitment,attritionandpromotionratesaccordingtodiversitydemographics,youcan
identifytrendsandpotentialareasforimprovement.Organisationscandevelophypothesesaroundwhatmight
bedrivinganygaps,whichcanbetestedusinginclusionandcultureanalytics.
Joining
Analysiscanbe
undertakentoinfluence
talentmanagementand
successionplanningwith
adiversitylens,identifying
thenextgenerationof
leadersandusingdiversity
datatoensurethatpeople
fromallbackgroundsare
abletosucceed.
02
Leaving
01
Progressing
Youcanlookatthediversity
ofyourjoinerstodeterminehow
youarerecruitinginthecontext
ofyourtalentpoolandgeography.
Additionally,youcananalyse
diversityateachstageofthe
recruitmentcycletodetermine
anybiaseswithinyour
recruitmentprocesses.
03
It’simportanttoanalyse
diversityinyourleavers,taking
noteofgrades,departments
etc.astherateatwhichyour
peopleleavecansignificantly
impactthediversityofyour
workforce,andhigherattrition
ratesforcertainpopulations
canalsobeanindicatorof
systemiccultureproblems.
12
DIVERSITYDATAGUIDE
INCLUSIONANDCULTUREANALYTICS
Conductingadditionalqualitativeresearch
throughmethodssuchasemployeeinclusion
surveys,exitinterviews,andfocusgroups,
providesanopportunitytogaindeeper
insightsintoyourworkforce.Forexample,
someemployeesmayexperiencealackof
inclusionwithintheworkforcewhichcan
leadtoincreasedattritionrates.Asaresult,
targetedprogrammescanbedevelopedto
increasefeelingsofinclusion.Onceyouhave
identifiedkeydriversinfluencinginclusion
andprogressionwithinyourorganisation,you
canbegintodeveloptailoredinterventionsto
addresstheseissues.
DETERMININGSTRATEGIES
ANDINTERVENTIONS
Theriskofpursuingdiverseemployeerepresentation
withoutcarefulplanningtoaddressunderlyingfactors
contributingtorepresentationgapsisthatitcanlead
companiestoprioritise‘quickfixes’oversustainable,
long-termstrategies.Themostimpactfulinterventions
focusoncreatinganinclusiveenvironmentwhere
alltalentcanthrive,ratherthansolelyaddressing
representationgapsthroughrecruitment,without
makingthenecessarychangestotheenvironmentand
process.Wherefirmsdonothaveaninclusiveculture,
attritionofemployeesfromminoritydemographicscan
beparticularlyhigh,counteractingrecruitmentefforts.
Dataplaysacrucialroleinhelpingcompaniesto
developanevidenced-basedEDIstrategy,retaining
acommerciallenstofocusonthemostcriticaland
impactfulinterventions.AstheEDIstrategymatures,
datacanbeusedtocontinuetotesttheoutcomes
oftheseinitiativesandfurtherrefinethestrategy,
alongsidequalitativeanalysis.
HOWTOSETDIVERSITYTARGETS
Identifyingbarriershelpsorganisationscreate,
understandandmonitoreffectivetargetstodrive
change,usingtheirexistingdatatoguideandinform.
Withoutthis,organisationsoftenfindtheirtargetsare
eitherunrealisticorlackaspirational.Thiscanthen
leadtoinactionorthewrongactionsbeingtakentotry
andsolvetheoutcomeratherthantherootcause.
13
THEINVESTMENTASSOCIATION
Internalmetrics
•Historicaltalentflows
•Dataandworkforceplanning
•Crossdepartmentalcomparisons
•Otherrelevantareas
TargetSettingbasedonagreed
interventions
Current
workforce
representation
Externallabourmarket
insights
•Nationalstatistics
Recruitment
Improving
diversityin
recruitment
e.g.debiasing
recruitment
process,
broadening
recruitment
channelsand
collaborating
withrecruiters
Progression
Aimingfor
greater
proportionality
ofpromotions
bymitigating
biasesin
promotionand
performance
management
processes
Attrition
Improving
retentionand
reducinggaps
inattrition
throughafocus
onculture,
inclusion
andthe
employeevalue
proposition
Future
workforce
representation
•Universitygraduatefigures
•Datafromindustrybodies
•Benchmarksfromotherorganisations
Source:PwC
PwC’stargetsettingmethodology,showninthe
diagramabove,buildsontheemployeelifecycle
analysisbymodellingforwardhowrepresentation
willchangeoverthenext3-5years,ifhistoricflow
ratesaremaintained.Thiscreatesabaselinescenario,
uponwhichfurtherscenarioscanbebuiltbyadjusting
the‘levers’ofrecruitment,promotionandattrition.
Forexample,iffemalepromotionratesarerelatively
lowatsomelevels,agoalcouldbetoreviewthecauses
ofthisanddevelopinterventionstoensuregreater
equityinthepromotionprocess.
Externalperspectivesfromindustrydataand
benchmarkssuchastheIA’sEDIDataSurveyare
helpful.Lookingatexternalmetricsbasedonlocation,
industryandqualificationcanbeahelpfulinput
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