80% of Businesses Fail to Track Diversity Impact

In late November 2022 Sapio Research and Workday Inc released the results of their jointly released report in which it discovered that percent of approached global businesses who were approached by the survey organizers were taking action to assess, gauge, and evaluate the effect of diversity, inclusion, and equality initiatives. 

Our Survey Said…

The most surprising part of the survey was that businesses approached which have a worldwide facing perspective were seemingly making the decision not to take the time to collate information that can be classified as data or are not making sufficient use of such information to move their commercial organizations in a forward direction. This was albeit despite whether most businesses are currently plowing commercial resources into their organisations, including but not limited to monies, business resources, and assets. Such resources appear to be directed in the following three areas:

• inclusion

• equality and

• diversity.  

Survey Sample?

The organizers of the survey approached in excess of three thousand thought leaders in the field of Human Resources and more specifically those who are accountable for inclusion, equality, and diversity schemes inside their businesses. They did not just approach business leaders in the United Kingdom, they spoke to businesses in just over twenty global countries 

We’ve Got a Long Way to Travel and a Long Long Way To Go.

The organizers of the survey revealed that despite progress having been undoubtedly made in the area of tracking inclusion, equality, and diversity, Workday and Sapio Research found that businesses have much more to do if they are going to weigh up the effect it is having on business organizations. It also revealed several alarming statistics including but not limited to the following:

• approximately percent of those approached by the survey organizers for a response to the questions around the world commented that they had no plan presently in place covering this area 

• the organizers of this piece of the research highlight that such organizations are going to face from a strategic perspective when they stated that by adopting such a lackadaisical stance such businesses will inevitably find it far harder when they are attempting to progress from setting ambitious targets and then moving forwards towards achieving their lofty corporate ambitions

• by way of an empirical comparison and analysis the survey organizers surprisingly found that approximately percent of those who responded to the Japanese jurisdiction stated that implementing diversity inclusion and equality initiatives where of a lower priority compared to more pressing problems organizations in this part of the world are facing

• for some form of context this area appears to have been more important in Europe where approximately percent of those approached by the organizers of the survey commented that such plans were viewed as a higher priority and

• a smidgen over thirty percent of those who responded highlighted that the priorities of the upper echelons of their respective businesses do not appear to include diversity, inclusion, and equality. 

Give Me A Reason…

The investigators of the report did not simply stop there in highlighting the issues. They also delved into why approached organizations appear to be falling behind in such an important business area. When they examined the reasons why businesses were in this area a percent remarked that they found the whole monitoring process in this area demanding. This was because it called for up-to-date technological solutions potentially in the form of the latest computer programs and new systems to assist with the introduction and maintenance of the diversity, equality, and inclusion plans. 

ASSESSING FIRMS

#Allen&Overy #BakerMcKenzie #HerbertSmithFreehillsLLP #LewisSilkin #MishcondeReya #Simmons&Simmons #AddleshawGoddard #CliffordChanceLLP #CMS #DACBeachcroftLLP #EvershedsSutherlandLLP #LinklatersLLP #TaylorWessing #TraversSmith #Bird&Bird 

THE ARTICLE WAS WRITTEN USING THE FOLLOWING SOURCES 

[SOURCE 1] Fair Play Talks – Around half of the UK’s employers lack a diversity and inclusion strategy, confirmed a new study – 12 December 2022 - Half of UK’s Employers Don’t Have Diversity & Inclusion Strategy - Fair Play Talks

[SOURCE 2] Taylor, Carin - Global blueprint for belonging and diversity – Workday - Global Blueprint For Belonging And Diversity | Workday

[SOURCE 3] McKinsey – How diversity, equity and inclusion (DE matter&I) – 19 May 2020 - How diversity, equity, and inclusion (DE&I) matter | McKinsey