December 8, 2023

6 DEI metrics all organizations should be tracking

Tracking diversity, equity, and inclusion metrics is a great way to practice workplace accountability and transparency. Teams can use this data to address barriers within the organization while working to improve workplace culture, employee engagement, retention, and productivity.

About 24% of organizations aren’t establishing accountability or measuring progress in their equity commitments, according to a Deloitte study. Without data-driven insights, companies will have a harder time assessing how successful their DEI strategy is, which can eventually lead to lower employee trust and a lack of executive support.

If your company wants to create an inclusive and equitable workplace, here are 6 DEI metrics your team can start tracking, regardless of where you are in your DEI journey.

1. Representation

These metrics refer to the number of employees that belong to different demographic groups, such as race, gender, age, and ethnicity. Track these numbers over time and identify areas where representation is low, such as in leadership positions, to begin an inclusive advancement plan.

You can gather this information from HR records or voluntary self-identification through surveys. This information should be kept confidential and only used for the purpose of creating an equitable culture.

2. Turnover

Measuring employee turnover can show you how well the company is retaining employees and help you identify potential issues related to employee engagement and job satisfaction. It can also help companies identify areas for improvement in their recruitment and retention strategies.

Take a look at the number of employees who leave your organization, voluntary and involuntary, over a period of time. You can break down these metrics by demographic groups to identify who is leaving more frequently.

Exit surveys will be crucial for understanding why the employee left, what could be improved, and how they feel about the company’s DEI efforts.

3. Hiring

Hiring metrics can help track the diversity of your candidate pool and new hires. Take a look at the number of hires, how much time it takes to fill a position, where candidates are coming from, and the demographics of your candidate pool, including historically underrepresented employees.

An applicant tracking system can also provide the number of applications received, the number of interviews conducted, and how many candidates were hired.

4. Advancement

When tracking advancement at your company, be sure to look at the internal mobility rate, the time it takes for employees to be promoted, and promotion rates by demographic group. Identify who has received raises and bonuses to ensure employees from historically underrepresented backgrounds are given equal opportunities.  

5. Employee engagement

When tracking employee engagement, assess their overall job satisfaction, level of motivation, connection to the company, current workload, attendance rates at company events, and how they feel about diversity and inclusion in the workplace.

Use pulse surveys, one-on-one meetings with managers, focus groups, or other feedback strategies to gather this information on a quarterly basis.

6. Pay equity

These metrics track the pay disparities between different demographic groups in your organization. The goal of a pay equity audit is to ensure that employees who do similar work earn similar pay. Take a look at this newsletter to learn more about the 6 steps for conducting a pay equity audit.

Evaluate your company's DEI progress to build a more inclusive culture

Perfeqta created a free quiz that helps leaders assess their company’s DEI maturity in minutes. 

You answer 20 questions about your company’s current DEI initiatives and we’ll show you where you fall within our 5-stage maturity model. We also send immediate recommendations on how to evolve DEI at your organization.

Take the quiz today and learn more about your company’s current state of DEI.

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