Businesses Are at a Tipping Point on Their Path to Equity, Diversity and Inclusion

European research shows that many executives understand the importance of prioritizing diversity initiatives, but need to ensure that actions lead to lasting change.

Workday, Inc. a leader in enterprise cloud applications for finance and human resources , announced the results of the research “Overview of Equity, Diversity and Inclusion in Europe”which highlights how most European organizations believe their leadership team truly understands the importance of equity, diversity and inclusion (ED&I) and has invested in infrastructure to develop it. The research was conducted in the spring of 2021, among over 2,200 HR professionals and business leaders to better understand their motivations, activities and progress in relation to belonging and diversity (B&D). The study, conducted in collaboration with Workday and Sapio Research, spanned 14 countries and showed great progress, but also highlighted clear areas of opportunity.

Workday, in support of its Membership and Diversity program and its stated commitment to Value, Inclusion, Belonging and Equity (VIBE  – in English: Value, Inclusion, Belonging and Equity), wanted to investigate key trends and discover more about the motivations, activities and progress behind them. From being designed for success with clear goals and using correct data as a solid foundation for informed decisions, to applying a systematic approach and using the technology needed to drive progress, the study found that ED&I it is moving into the heart of the business and presents an opportunity to create lasting change.

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Highlights of the study include:

  • Three out of four respondents say their executive leadership teams value ED&I.
  • Three out of four have a dedicated budget for ED&I initiatives and a third say they want to increase this investment.
  • A third said staff involvement is needed to make further progress on ED&I.
  • One third does not have a strategic approach to ED&I
  • A fifth took some initial steps to create one.
  • Data on employee sentiment is collected, but there are obvious obstacles and limitations in what is collected and if and how it is used.
  • The majority report using the technology to support their ED&I initiatives, but their responses show that they are not making full use of it.

The research also revealed that organizations are at different stages of their journey, but are committed to preparing their teams for success by placing faith in data, taking action to implement ED&I initiatives, and using technology to help make these possible. initiatives.

Strategies that work across the B&D (Belonging & Diversity) path

To take ED&I to the next level, respondents were more likely to identify the need for better staff engagement and top-down engagement, focusing on three main areas:

  • Culture and strategy go hand in hand: the extent to which organizations have developed a strategic approach appears to be associated with the maturity of their organizational culture in relation to diversity.
  • Trust in data and technology is interconnected : trust in ED&I data is highest where multiple aspects of diversity are monitored and where technology is constantly used to support ED&I.
  • Rooting ED&I in the organization: Those who have created dedicated and cross-functional ED&I teams are also very likely to report intercompany traction and more likely to report a commitment to increase investment.

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The technology to support the ED&I initiatives

In support of these strategies, in 2021 Workday announced its VIBE  solutions to help HR leaders improve B & D in the workplace.

  • VIBE Central : VIBE Central brings together diversity and inclusion data into one centralized location in Workday Human Capital Management, enabling organizations to set goals and then track progress towards those goals. Companies can evaluate, measure, compare and manage diversity based on the aspects they prefer.
  • VIBE Index : VIBE Index allows HR managers to set up a B&D strategy and create a tailored plan aimed at achieving positive results. Measures the relative performance and outcomes of an organization’s efforts towards talent acquisition, talent development, leadership development, employee experience, and workplace culture to provide a map that identifies the highest opportunities for positive change, as well as a VIBE Index score for workplace equity.

Comment on the news

“At Workday, we believe B&D is a journey, and while we’ve made significant progress, we know the path to change isn’t always quick or straightforward,” said Carin Taylor, Chief Diversity Officer, Workday. “We are focusing our B&D efforts on four key areas: hiring and developing diverse talent, cultivating a culture of belonging, creating inclusive products and technologies and strengthening our communities, and I am encouraged to see other organizations across Europe also support them. , as can be seen from the survey results “.

“At Workday, we work hard to create a diverse workforce. We want the best thinking to drive the best results and that’s why we rely on VIBE ™. This not only guides us internally, but also how we interact with our customers; developing innovative products and solutions to help them support B&D in their workplaces, ”said Carolyn Horne, president, EMEA, Workday. “We hope the research findings will help us further refine our understanding of local needs and nuances to connect and better serve our customer base in EMEA.”

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