One of the problems that has vexed organisations is their ability to quantify the value of their DEI initiatives to social and business performance metrics.
Many organisations have attempted to implement a DEI strategy only to find that it fizzles out into nothing more than several initiatives with unproven results leading to a lack of executive support. A recent report by Harvard Business Review Analytics Survey (2021), stated “The biggest problem for those [DEI professionals] who are not successful is a lack of both representation and genuine commitment among senior leaders. Half of the survey respondents from laggard organisations say they are hindered by a lack of commitment among leadership, and 72% say they are held back by a lack of diversity at senior levels of the organisation.”
Paula Newby, CEO of Predixa said, “The lack of executive-level support for DEI leaders is not surprising. One of the key issues when rolling out DEI strategy and initiatives is the measurement of success in their organisation in terms of impact to hard data, such as key performance indicators (KPIs) as well as quantifying their soft data, such as inclusive culture and leadership.
Our research and development teams have been working on how to correlate and measure hard and soft data elements and their social and financial value from an organisation’s DEI initiatives. Our latest Predixa Dynamix DEI diagnostics makes these elusive value-metrics transparent. These metrics comprise hard and soft data, which we call ‘augmented data’ and this is a huge step forward in helping DEI leaders to have a robust way of measuring the impact of all their DEI initiatives and to get the board-level support they need.”
Predixa’s DEI service, using Predixa Dynamix diagnostics, provides quarterly benchmarking whereby organisations can measure the level of improvement achieved as a result of remedial actions, and measure their Return on Investment (ROI), a notoriously difficult aspect to quantify for DEI initiatives.
Predixa’s DEI business transformation diagnostic service using artificial intelligence and augmented data analysis is available for immediate general release.
For more information on Predixa, visit: www.predixa.ai
