Companies can now benchmark their D&I performance objectively, thanks to the launch of a new D&I Index by HR DataHub, backed by The Black British Business Awards (BBBAs).
The D&I Index will enable organisations across all sectors to collect and measure their D&I data, set meaningful targets, and implement changes that will allow workplace inclusivity.
The technology-powered solution allows companies to measure their progress and track real changes that matter across all levels within an organisation. Progress is tracked across five key characteristics; gender, age, ethnicity, disability, and LGBTQ+, and will report across four fundamental measures; representation (by responsibility level), tenure, talent area and pay differentials.
The D&I Index was launched in partnership with the BBBAs and The Network of Networks (TNON), alongside a coalition of experts including the 30% Club, INvolve, Change the Race Ratio, hundo and Delta Alpha Psi.
The D&I Index is both unique and timely as the lack of comparable data available to companies has led to confusion and slow progress in meeting D&I targets. Research conducted by HR DataHub in 2021 (200 large companies) showed that just a 1/3 of companies are taking a data-led approach to putting in place actions and monitoring progress. Tracking data from the start brings D&I to the top of the agenda, helps start conversations at a senior level and allows organisations to take accountability.
The objectives for the D&I Index are five-fold:
1) To create a data-led index for companies to benchmark their D&I performance
2) To integrate this index into that company’s D&I data journey
3) To implement a support framework to help companies progress through this journey
4) To help companies use data to identify areas for improvement and implement changes that work
5) To measurably improve the working lives of people from any background
The D&I Index is sponsored by industry leaders including Pennon Group, BAE Systems, Bright Horizons, Phoenix Group, Reward Gateway and M&S. They are paving the way for their sectors to leverage innovation to create inclusive, safe and inspiring workplaces.
Commenting on the launch, David Whitfield, CEO and co-Founder of DataHub, said: “In focusing only on the data, we have been able to remove all subjectivity and guesswork.
“With one simple data submission, we are proud to be able to help organisations across the UK to easily understand how their organisation is performing across five key characteristics and four key measures, so that they can then set meaningful targets through peer comparison and location baselining.”
Sophie Chandauka, Executive Founder and Chair of The Black British Business Awards, said: “The ultimate aim for the D&I Index is to ensure that companies’ diverse talent will be appropriately represented at all levels. These insights will help business leaders understand where faults lie, track progress and make changes for individuals on a personal level and the UK economy as a whole.
“The D&I Index will be critical in influencing industry leaders to measure what matters and leverage analytics to diagnose and resolve issues through targeted investment. This evidence-based approach is critical to accelerating the development and evolution of workplace cultures that enable all talented employees to thrive.”
Dawn Whyte, Director of Business and Advancement Strategy, TNON, explained: “Built solely on objective data, the D&I Index uses four distinct measures to evaluate a company’s performance. This data is loaded onto the HR DataHub platform, where points are assigned, and a ranking will be established. Companies will be able to identify which areas they need to focus on and use the resource centre and D&i Index community to put in place proven actions that will have a lasting impact. We are proud to be part of a ‘tech for good’ tool to further the change we want to see.”
