A Call for Change
2021 emerged as a pivotal year, compelling organizations to take diversity seriously. Driven by societal demands—think Black Lives Matter—coupled with commercial pressures centered on E.S.G (environmental, social and intelligence) criteria, the call for change reverberated louder than ever. Coupled with an acute talent scarcity pushing organizations to cast their recruitment nets wider, the impetus was clear: we needed to do better, to be better.
Horsefly’s Mission to Measure D.E.&I.
This sparked Horsefly to embark on a mission to gauge how enterprise employers were measuring diversity and how they were uniquely positioned to source insights that would enable strategic decision making. Horsefly’s starting point was simple: there was a need to better understand the current situation. From this desire to have a meaningful impact, the diversity and inclusion module within the Horsefly Labor Market Intelligence Platform was born. Early after launch, it became apparent that new users were flocking primarily to assess their own diversity metrics. External data unfurled narratives beyond what was captured through the standard application processes.
Diving deeper, Horsefly unearthed a multitude of reasons behind this growing demand. Most notably, existing diversity metrics relied heavily on voluntary declarations, with less than half of all candidates opting in. In contrast, external sources painted a far more comprehensive picture, shedding light on critical insights crucial to identifying organizational strengths and weaknesses in diversity.
Strategic Decisions Based on Diversity Insights
Understanding your own diversity mix can pave the way for benchmarking. By juxtaposing your internal data against local market metrics (a marketing equivalent of the addressable market) provided by Horsefly you can gain valuable context. Does our workforce's diversity mirror that of the local population? This question is particularly pertinent in addressing underrepresentation and can spur actionable decisions within an organization.
For instance, where underrepresentation mirrors local demographics, an organization may contemplate relocating roles to areas boasting larger talent pools. Conversely, low representation underscored areas may necessitate intensified efforts towards diversifying your current workforce.
Setting Realistic and Detailed Targets
In addition, setting challenging yet achievable targets based on specific skills and geographic locations is essential for businesses. In the past, many businesses have set vague targets that lack significance. However, by establishing more detailed and realistic goals, companies can improve their long-term outcomes.
For example, when hiring someone with both Java and Hadoop skills in a specific city or town, it's important to consider various factors such as the diversity of the external market and how does it translate into an achievable shortlist.
Empowering Change with Data-Driven Insights
At Horsefly, there is a belief that data ought to be the cornerstone of your strategy. Identifying underrepresented groups within your workforce, coupled with a shortage of available talent from those groups in the local talent market, signals the need for extra effort—a plan that goes beyond rinse and repeat.
Armed with compelling data and insights provided through the Horsefly Talent Intelligence Platform and API, presented in digestible formats like talent heat maps, you can garner the right level of support to champion transformative change within your organization. Whether committing to long-term community engagement, bolstering branding efforts, or revamping hiring methodologies, the data and insights provided by Horsefly can be the backbone for advocating real change.
In the realm of D.E.& I., measurement isn't merely a metric; it's the lifeline to managing, thriving, and effecting positive change.
Horsefly Analytics, providing organizations across the globe with data-driven insights to guide labor market decisions, enhance efficiency, and accelerate business growth. Elevate your workforce strategy with the world’s most comprehensive labor market intelligence platform.
Ready to harness the power of data-driven diversity and inclusion strategies to drive transformative change in your organization? Partner with Horsefly today and unlock actionable insights that will propel yourE.D. & I initiatives to new heights. Contact us now to learn more and start your journey towards a more inclusive and thriving workplace.
Authored by
Bill Boorman