Let’s dive deep into what D&I Technology stands for: “Enterprise software that provides insights or alters processes or practices, at the individual or organizational level, in support of organizations’ efforts to become more diverse and inclusive.” — says Mercer’s Report on Diversity & Inclusion Technology: The Rise of a Transformative Market.
Cultivating diversity and inclusion through technology has a remarkable potential to improve outcomes.
Companies are looking for digital technologies to help promote greater diversity and inclusion as these initiatives become essential in businesses today. For their diversity programs, organizations are increasingly looking for technology to deliver consistency, scalability, and enhanced insights.
In a recent report by Deloitte, it is mentioned that “While HR (Human Resources) professionals often lead DEI (Diversity, Equity and Inclusion) strategies, technology leaders play a critical role as strategic partners by designing, developing, and executing tech-enabled solutions to address increasingly complex DEI workforce challenges. Over the coming months, we expect enterprises to adopt new tools that incorporate advanced analytics, automation, and AI, including natural language processing and machine learning, to help inform, deliver, and measure the impact of DEI.”
What are some examples that could support diversity and inclusion through technology?
Artificial intelligence (AI) — a key technology improving diversity in recruitment
Race, age, and gender are not taken into account by AI tools when looking for talent. Companies may better evaluate applicants based on what they’re looking for, resulting in a reduction of human bias toward certain demographic variables, which are known to affect hiring choices.
Advancement and development
D&I technology tools focused on employee development plans — becoming the new normal
Employee development is one of the most important factors of employee retention. With the use of D&I technology focused on employee development, mentorship, and career progression, technology is making it easier for organizations in many sectors to create employee development programs.
Engagement and Retention
A diverse workplace lends itself to higher levels of employee engagement and better performance.
Over 63% of companies say retaining employees is harder than hiring them — according to new research. And the solution lies in what numbers say. 93% of employees would stay at a firm for longer if it invested in their careers, according to statistics.
Measure the impact of your D&I initiatives
D&I analytics can guide decision-making and address inadequately diverse talent pipelines. Conducting representation, KPIs, and pay equity assessments are just a few examples of the creative approaches from vendors to all the different aspects of D&I. The list goes on with creating D&I dashboards, evaluating ERGs, quantifying the impact of D&I on business, as well as assessing network inclusion and talent acquisition operations.
More than understanding the way technology can be used to support a culture of inclusion and diversity is knowing which tool to choose for the need YOU have.
Modern technological solutions may assist you in developing your distinctive D&I strategy and position yourself for future success and growth.
What D&I initiatives have you approached and what was the outcome?