Diversity Benchmark Initiative – Why Your Company Should Participate
NC TECH is partnering with The Diversity Movement, Racepoint Global and Inclusion Analytics on its first annual Diversity Benchmark Initiative.
This Initiative will aggregate data around Diversity, Equity and Inclusion (DEI) from participating tech and tech-enabled companies with a North Carolina presence. The results will establish a baseline of how these companies are faring in the areas of DEIand provide a broader picture of what is needed as they strive toward more diverse and inclusive workplaces.
While the results of the study will provide valuable information for North Carolina business leaders, government officials, economic developers, and others, some businesses may be hesitant make the initial investment to participate. To ease some of those concerns, here are the top reasons why you should participate in this inaugural DEI study:
- Participation is Easy – Participating companies will complete two core assessments, provided and supported by Inclusion Analytics.
- The first will capture details on company demographics and policies.
- The second will focus on the employees’ perceptions of those policies and the company’s culture. Participating companies will receive an anonymous link to an assessment that they will share with employees.
- Set A Benchmark – Once assessments are complete, Inclusion Analytics will conduct a data analysis, and provide each company with its own report. Participating companies can see where they are excelling as well as areas for improvement. All companies will have a clear, data-driven jumping off point for creating or improving their respective DEI efforts.
- Time to Compare – In addition to your individual company results, the report will also include aggregate-level results so companies can see how they stand up to industry peers in North Carolina.
- Expert Advice and Next Steps – After the conclusion of the benchmark study, The Diversity Movement will lead complimentary executive briefings to guide participants in applying next steps. In addition, participants will be eligible to access The Diversity Movement’s suite of DEI innovation tools at a special rate.
- Employee Retention – Research shows that organizations with a diverse staff and inclusive workplace have higher retention rates and improved employee morale*. Each company can share its benchmark results directly with its employees and use the data to set DEI goals. All DEI programs should be built on a foundation of transparency and accountability.
- Brand Building – Having a DEI program has become less of a perk or benefit and more of a requirement in the eyes of potential employees, customers and partners. Glassdoor reports that 67% of job seekers feel diversity is important*. Use the data from this study to build a program your company will be proud to promote.
- Minimal Investment, Solid Return – Data shows inclusive organizations generate 19-33% more revenue than their peers*. It only costs $1,500 for NC TECH members and $3,000 for non-members to participate. With this study, companies can help build a strong foundation for their DEI efforts and future business growth with a minimal financial investment.
- Right Thing to Do – While there are many data-backed, business-focused arguments for investing in a DEI program, there is one more reason that outweighs the rest – it’s just the right thing to do. When we all work together, DEI efforts can help create a stronger, more inclusive future for businesses and the communities they serve.
Registration for the assessment is only open until January 21, 2022. To register, visit https://www.nctech.org/talent/diversity-benchmark.html.
The assessments will be completed from late January through mid-February with the data being released at NCTECH’s Diversity + Inclusion in Tech Summit in March 2022.
*Source: The Diversity Movement: Data by the Numbers