Lattice, the leading provider of people success software that empowers business leaders to build engaged and high-performing teams and inspire winning cultures, today announced the release of DEIB analytics dashboards that will combine demographic, performance, and engagement data to help people leaders more easily set goals, make informed decisions, and track progress toward building a more diverse, equitable, and inclusive culture.
Investing in DEIB (Diversity, Equity, Inclusion, and Belonging) strategy is non-negotiable for companies of all sizes and in all sectors; employees and prospective candidates today expect companies to cultivate a diverse, equitable, and inclusive workplace that makes work meaningful for all employees. And successful DEIB is about more than just a commitment to diverse hiring; it requires deeper, ongoing investment to ensure programs and processes are equitable and companies are rooting out bias and systemic barriers to ensure that all employees are able to thrive.
“DEIB strategy has become a pillar to not only the People function but also to being a successful modern business,” said Cara Brennan Allamano, CPO at Lattice. “However, for many companies, developing or improving a DEIB approach can be challenging without the right tools, and can become a high-stakes guessing game as opposed to a data-driven, informed strategy that drives real impact.”
With Lattice’s DEIB Analytics & Reporting, demographic, performance, and engagement data are combined in one place to give people leaders a clear look at representation across their workforce and provide previously unattainable insights on equity, inclusion, and belonging within their programs and people. The dashboards will empower HR teams to:
- See the representation breakdown of their workforce and how it’s changed over time in order to better set diversity goals and track advancement progress;
- Understand if your performance programs and processes are implemented and executed equitably irrespective of race, gender, etc;
- Gain insight into whether employees feel like they belong, are treated with respect and are supported by the organization.
Investing in DEIB is not just the right thing to do, it has a direct impact on business success. McKinsey found companies that are intentionally investing in DEIB have higher retention rates; employees are happier, more engaged, and more productive; and companies with diverse executive teams are 33% more likely to see better-than-average profits, showing a strong correlation between diversity and performance.
Quality analytics are the foundation for becoming a data-driven, people-centered organization, and Lattice believes that people analytics should be readily available to every company no matter its size or resources. Learn more about Lattice’s DEIB Analytics and Reporting tool here and explore how People teams can improve DEIB approaches in the Lattice library.