“…if managers can’t demonstrate that they can identify, hire, retain and promote diverse talent then they shouldn’t get promoted.”
Need another reason to develop your company’s DEI initiatives? One day your compensation might depend on it. There has been an increase in S&P 500 companies linking diversity metrics to executive compensation structures. McDonald’s, Nike, American Express, and several other companies have reacted to growing pressure from investors to improve their DEI and ESG strategy and programs. This trend has only accelerated during 2021 with more and more companies looking at these metrics to determine executive performance.
Pay consulting firm Farient Advisors LLC found that most companies using diversity pay metrics primarily look at the number of diverse employees and less commonly consider retention or supplier diversity. While attracting diverse talent is the first step, what happens once minority employees arrive at the door? How will executives create an inclusive environment that will keep talent from finding other opportunities?
Reach out to Jonathan Dyke and Deon Gaines to begin the process of strategizing your company’s growth within the DEI ecosystem. Working with ideascape today will ensure a more inclusive and successful tomorrow.