How do you know if your diversity efforts are working? In this video, Dr. Stefanie Johnson explains the importance of using benchmarks to track the progress of your efforts.
- What is measured matters, so you need to measure diversity. But first you have to figure out what your targets are. The CEOs of the best companies out there, Starbucks, Medtronic, Intel, set specific numeric goals for diversity, and they hold people accountable to those goals. This is something that you should do as well. But in order to set targets, you need to have some meaningful benchmarks. A lot of companies tell me they can measure diversity, but against what? So a US company can say they have 20% women on their board.
Is that good or bad and how can they tell? How do you set targets and goals for diversity? First, you could look at the population you're drawing from. For example, in the US, 50% of the population is women. Two, you could benchmark against college degrees. So you may have 50% women in the US, but what percentage of graduating engineers are women? That's 20%, by the way. So maybe you want to use that number. Third, you could examine industry averages and aim for more.
Only 11% of practicing engineers are women. Fourth, you could look at what the leaders in your industry are doing. Facebook's latest batch of engineer new hires was 27% women. But does using these numbers make sense if you're in Japan or Oman? No. In Japan, only 5% of engineers are women. And in Oman, 53% of engineers are women. Point being, you need to do the benchmarking in a culturally relevant pool.
You need to use goals and data when it comes to diversity if you want it to work. But to do so, you need some meaningful benchmarks.
- How prioritizing diversity and inclusion is good for business
- Establishing accountability
- Creating a global diversity strategy
- Creating a localized strategy
- Using benchmarks to track the progress of your efforts
- Measuring diversity program success
- Diversity and inclusion in Brazil, Russia, India, and China