European study shows that executives understand the importance of diversity and inclusion (D&I) initiatives, but should keep an eye on sustainable change
Workday, Inc., a leading provider of enterprise cloud applications for finance and human resources, announces the results of a new study. According to the report ” Equality, Diversity and Inclusion in Europe – a situation report “A majority of European companies believe that their leadership teams understand the importance of equality, diversity and inclusion and have invested in building appropriate infrastructure. For the study, more than 2,200 HR managers and managers from 14 countries were asked about their motivations, measures and progress in the area of belonging and diversity in the spring of 2021. The study carried out by Workday and Sapio Research shows not only significant progress but also a clear need for improvement.
Following its own commitment to inclusion, belonging and equity (“Value Inclusion, Belonging and Equity” – VIBE ™), Workday wants to take a closer look at current key trends and find out what motivations, measures and progress are behind them.
As the study shows, diversity and inclusion are increasingly becoming the focus of entrepreneurial thinking and acting. This offers an opportunity for sustainable change, starting with a consistent focus on success with clear goals and meaningful data as a basis for decision-making, through the application of a systematic approach to the use of suitable technologies for measurable progress.
The most important results at a glance:
- Three out of four respondents say that their management teams consider D&I to be an important issue.
- Three out of four respondents have their own budget for D&I initiatives, while a third want to spend more money on D&I in the future.
- One third is of the opinion that further progress in the area of D&I is only possible through active involvement of the employees.
- A third are not yet pursuing a strategic D&I approach.
- A fifth have already taken the first steps there.
- Data on the mood among employees is already being collected. However, obstacles and limitations are emerging as to what exactly is recorded and whether and how this data is used.
- Even if the overwhelming majority of the companies surveyed base their D&I initiatives on technology, they do not yet seem to make the most of them.
The study shows that the organizations surveyed have progressed to different degrees on their way. Basically, all respondents want their teams to succeed by relying on data, actively driving D&I initiatives, and using technology to put their initiatives into practice.
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Successful strategies for every stage
In order to reach the next level at D&I, the respondents see the involvement of employees and support from management as a priority. Three areas are identified on which the focus should be:
- Culture and strategy go hand in hand : the extent and scope of a strategic D&I approach seem to depend on how deeply the topic of diversity is already rooted in the corporate culture.
- Trust in data and technology are closely related: Trust in D&I data is greatest when many different aspects of diversity are taken into account and D&I efforts are consistently supported by technology.
- D&I must be organizationally embedded: Companies with a dedicated, cross-functional D&I team are more likely to have holistic successes and are more willing to invest further funds in corresponding initiatives.
Technology as the basis for D&I initiatives
To support these strategies, Workday launched its VIBE solutions in 2020 . They help HR managers to anchor the topic in the workplace.
- VIBE Central : VIBE Central brings diversity and inclusion data together in one place within Workday Human Capital Management. In this way, companies can set goals and track their progress towards achieving them. They can evaluate, measure and manage diversity based on the criteria of their choice.
- VIBE Index : VIBE Index enables HR managers to set up a D&I strategy and develop a tailor-made plan to achieve positive results. The index measures the relative success target and the results relating to talent acquisition, talent development, leadership development, employee experience and workplace culture. All of this is presented in a heat map that shows the greatest opportunities for positive change. This is supplemented by a VIBE Index Score for equal opportunities in the company.
Comments on the report
“At Workday, we believe D&I is a process. While we’ve made significant strides, we know that change isn’t always quick or linear, ”said Carin Taylor, Workday’s chief diversity officer. “We focus our initiatives on four key areas: recruiting and developing diverse talent, cultivating a culture of belonging, providing inclusive offerings and technologies, and strengthening our communities. It encourages me to see that other companies in Europe are also active here, as our study shows. “
“At Workday, we’re passionate about building a diverse workforce. We want the best ideas to lead to the best results and that is the reason for VIBE . This is both our internal compass and a guide to how we interact with our customers and develop innovative products and solutions to support them on their own journey, ”added Carolyn Horne, President, EMEA, Workday. “On the basis of the study, we want to better understand what the requirements and nuances look like on site in order to be even closer to our customers in Europe and their wishes.”
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