Production of biannual Diversity Value Index.
The Diversity Value Index (DYi) was created in 2012 to address concerns about the validity and visibility of diversity ranking and awards programs of the time. These awards looked exclusively at demographic and compliance information to determine an organization's level of diversity. By contrast, the DYi was developed and continues to assess the real impact of diversity on organizational transformation and business outcomes.
In 2017, the DYi program was overhauled to include demographic data from United States government sources through our Talent Tracker service. The change from award program to a more comprehensive benchmarking gives a more holistic view of the diversity of U.S. organizations.
Analysis of the state of organizational diversity, equity, and inclusion shows that business performance can be directly linked to organizational diversity when the diversity function is viewed as a source of value. Thoughtful evaluation of the complex interaction between the diversity function and business performance will provide insight into diversity's objective value. The relationship between diversity and the bottom line can only be determined through a thorough and expansive analysis of an organization's many diversity indicators.
The DYi was initially created from the belief - backed by numerous studies - that organizational diversity improves business performance. As such, the DYi aims to inform organizations where they are in the organizational maturity of their diversity function relative to others. Any organization wishing to improve its diversity function can look to the best and unique practices from organizations that perform above the benchmark and adopt or adapt those practices accordingly. Further, the DYi assesses organizational maturity through a transparent model.
Rather than simply measuring organizational demographics or compliance policies, the DYi takes a larger look at the connection organizations make to their diversity and the real, demonstrable strategic value it can provide. The DYi aims to assess diversity's real effect on organizational transformation and business outcomes. It examines how and where organizations can improve the value gained from diversity. Through the publication of this report, along with sharing best practices, unique practices, and an evidence-oriented framework for determining diversity's value, the DYi sets itself apart from other programs as a rigorous, transparent benchmarking initiative. It is designed to raise the bar and provide the kind of actionable intelligence organizations need to set strategy, evaluate DEi investments and garner stakeholder support.
By thoroughly examining the reported initiatives in place at participating organizations, the DYi provides insight into the best practices being applied to create demonstrable, evidence-based business impact from the diversity function. While providing a standard for the industry as a benchmarking program, the DYi goes further by sharing the knowledge gained from open and public sources to present useful demographic information concerning both the U.S. and international workforce. Sharing these practices promotes transparency and contributes to the growth and maturity of the diversity field.
Creating a diverse and inclusive work environment is not only the right thing to do to drive towards equality, it's also a smart business strategy when it comes to attracting and retaining top talent and fostering higher levels of performance and innovation.