Global Diversity And Inclusion Benchmarks – As more companies across the country recognize the importance of diversity, equity, and inclusion in their organizations, the focus is on the best way to assess where a company is on its DEI journey and how its progress over time can be tracked.
That was the theme of this week’s DEI Advancement Plan Talent Resource Partnership Group event. The virtual event presented the Benchmarks for Global Equity and Inclusion, a model developed by the Center for Global Inclusion that helps companies and organizations across all industries plan and operationalize DEI internally.
Global Diversity And Inclusion Benchmarks
Implementing the GDEIB model in local businesses is part of the One Together Partnership’s commitment to harness the power of business in the fight against inequality. One Together’s initial focus areas include accelerating the growth of underrepresented companies and increasing racial equity in companies’ talent pipelines and executive leadership.
Gdeib June 2021 1
DEI’s Senior Vice President of Partnerships, Latanya Flicks, told the virtual audience that the organization has positioned this work “not as something extra that we have to do, but as the way we want to do business… We’re just getting started the beginning of this thing… but we hope to use our resources, our accumulated strength and expertise in this region and beyond to elevate the conversation and support you in your planning.” She added that the partnership aims to collect and share best practices, tools and resources for companies looking to implement change strategies.
The GDEIB assessment tool will be available to the business community later this summer. The results will provide individual companies with clear insight into their own progress and will be aggregated to provide a picture of the region’s collective progress in DEI.
The GDEIB model provides a framework for benchmarking organizations, developed by a global panel of more than 100 experts.
One of those global panelists is Gina Cheverin, executive vice president of the Greater Cleveland Partnership, who discussed how her organization, as well as a wide variety of businesses and nonprofits in metro Cleveland, have used the GDEIB tool.
Global Diversity, Equity And Inclusion Survey: Pwc
“DEI has become such a key element to the success of the organization,” Sheverin said. “A set of standards is needed, and that’s what the benchmarks provide: free resources to help groups develop and implement their DEI strategies and measure progress over time.”
Myra Caldwell is Executive Vice President and Chief Diversity Officer at Cadence Bank, which has a significant presence in the region. Caldwell said that since 2019, Cadence has been involved in a comprehensive DEI program it calls Symphony and recently adopted the GDEIB model to assess its progress.
“This meets a lot of our needs,” Caldwell said. “It allows us to set goals, understand progress and focus our work on a better experience for employees, customers and shareholders.” The model really fits our structure perfectly and keeps everyone aware and involved.”
Regional Racial Equity Assessment: Workplace Diversity, Minority Business Spending Exceeds National Benchmarks October 4, 2023 (October 4, 2023) – Companies have made progress on a range of key metrics that measure progress in removing barriers for all, according to an analysis commissioned by Opportunity as part of One Together, an initiative of the Grand Partnership board-level Racial Equality Committee. The Regional Equality and Inclusion Assessment 2023 highlights the practices local employers are using to promote and create a more equitable and inclusive region. A total of 92 companies and organizations employing more than 265,000 people across the region from 12 countries participated in the 2023 assessment, with a core group of 64 organizations returning from the 2021 cohort. category of upward mobility and spending in minority businesses. The 2023 results show that Black, Indigenous and People of Color (BIPOC) representation in the workforce has increased over the past two years, along with the group’s share of workforce advancement. The biennial assessment also showed significant commitment to adopting best practices that promote diversity, equality and inclusion within the organization. “Progress on these measures is encouraging. The Racial Equity Committee looks forward to continuing the momentum in the coming years and invites other companies and institutions to join the effort,” said Gretchen Watkins, co-chair of the Partnership’s Racial Equity Committee and president of Shell USA, Inc. together we can help take action to create opportunities for all Ianians.” Key areas of progress highlighted in the assessment include: Upward mobility BIPOC representation in the workforce increased by 7% to 64% in 2023, compared to 60% in the region in 2021. BIPOC share on boards increased by ~13% and the group now accounts for ~34% of board seats compared to ~30% in 2021 BIPOC share of staff promotions increased by over 15% from 52% in 2021 to 60% in 2023. The percentage of newly hired women increased by 21% from 54% to 66%, increasing women’s representation in the workforce to 60%. In addition, the share of women in the workforce has increased by 16%, from 44% to 51%. The supplier diversity initiatives launched appear to have had a positive impact on supplier diversity, with 25% of organizations setting targets for MBE spend; of 9% in 2021. the total budget, against 3.6% nationally. Maturity of DEI Practices DEI Best Practices maturity remains “proactive” on average (46% best practice adoption) across 15 categories, with several categories being “progressive” on average (greater than 50% best practice adoption). Legal and professional services industries are leading the maturity of DEI best practices, outperforming other industries in the region in 13 of 15 categories “Since 2021, One Together has brought together more than 120 companies and organizations to deliver peer-to-peer learning and data-driven insights, industry benchmarks and best practices,” said LaTanya Flicks, Senior Vice President of the Partnership for Diversity, Equity and Inclusion. “The improvement shown by the 2023 assessment results is a testament to the industry’s commitment to this important work, while also identifying opportunities where companies can continue to improve.” Despite a significant ~15% increase in the Hispanic workforce, Hispanics remain the only group underrepresented at all levels of the workforce. Also, BIPOC’s share of senior management promotions fell by ~40%, from 55% in 2021 to 33% in 2023. The results also indicate a slowdown in the advancement of women into senior positions and board seats. Despite progress in supplier diversity, only 51% of respondents report spending on MBE, so the figures cited may not be representative of what’s happening in the regional economy. View the full assessment results on the interactive dashboard. Watch the video below for a summary of the results. About Eden Together Eden Together encourages regional business leaders to drive change in two areas where the partnership believes business can have the greatest impact: creating opportunities for talent to thrive and leveraging our purchasing power. By addressing these issues at the regional level, Partnership members can measure individual and collective progress over time, identify areas of focus, and strengthen their shared commitment to removing barriers to equal opportunity. Partnership members participate in talent and supplier diversity roundtables, a talent conversation, a buyer group, a CPO meeting and industry working groups. About the Regional Equity and Inclusion Assessment The biennial Regional Equity and Inclusion Assessment, originally launched in 2021, is the first of its kind among major U.S. metro areas, measuring respondents’ progress on workforce and leadership race and gender diversity, the diversity of supplier spend and the top 15 practice categories. A total of 92 companies and organizations employing more than 265,000 people across the region from 12 countries participated in the 2023 assessment. The Boston Consulting Group provided analysis of the assessment and assessed national trends to provide context for the data. Survey respondents represent a wide range of public and private organizations across key sectors operating in . The assessment is based on global DEI measures and is used by other economic development organizations in the US. read more
Ways To Measure The Success Of Your Dei Strategy In 2023
Racial Equity 3 Actions for Companies Developing Supplier Diversity Programs 9/7/23 Developing and maintaining a successful supplier diversity program requires design, responsibility, data and resources. This was one of the key findings of the Grand Partnership’s first interactive program aimed at improving outcomes for minority businesses. Improving outcomes for minority businesses is one of One Together’s two priorities, along with advancing talent and board representation of people of color. The partnership organized the first Supplier Diversity Innovation Lab, aimed at members responsible for purchasing, supplier diversity and supply chain. Attendees represented seven sectors, including administrative and support services, energy, healthcare and life sciences, higher education, manufacturing, professional services and real estate. Partnership Managing Partner JPMorgan Chase shared how
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