DEI Progress is a Measurable Objective for Leadership in More Than a Third of U.S. Organizations in New Salary.com Survey
Assessing pay equity and increasing DEI education are top measurable DEI goals
WALTHAM, Mass., Aug. 23, 2023 /PRNewswire/ -- Diversity, equity and inclusion (DEI) may be a hot button issue in today's political landscape but a new survey from Salary.com® reveals a solid corporate commitment to the ideal of a fair and equitable workplace. A telling sign: 41 percent of survey respondents say that DEI progress is a measurable objective for their organization's leadership team. There is also acknowledgement of the many positive business outcomes that DEI can achieve, with HR pros crediting it for improved employee engagement/satisfaction and greater access to talent.
The survey also demonstrates that there is much progress to be made, despite DEI gaining strong footing in over half of U.S. companies. Still a nascent business process, only a third of organizations have a DEI budget and less than half have someone designated to DEI. Of those, 41 percent have been in the role for 1-2 years. The Salary.com survey was designed to assess the current state of DEI and received 600+ responses from HR professionals across the U.S. representing 20 industries.
Measurable Goals for DEI
For organizations where there is accountability for DEI success, the top two measurable goals are increasing DEI education and assessing pay equity. The rise of pay equity assessments is indicative of the many states that have enacted pay transparency and equal pay legislation, and the rising number that have legislation pending.
The Value of a Diverse Workforce
There is significant value being placed on a diverse workforce, with a third of organizations reporting they have conducted a diversity audit. Achieving a diverse workforce is a complicated process, and the vast majority of survey respondents are leveraging technology to realize diversity:
- 89 percent using it to enhance recruiting processes
- 77 percent for the creation of job descriptions
- 65 percent for pay equity
In addition to technology, more than a third of HR pros are building a diverse recruitment pipeline via partnerships with HBCUs (Historically Black Colleges and Universities), minority professional and MBA organizations/associations.
Two steps forward, one step back
"Given the Supreme Court's recent ruling on affirmative action, some retrenchment around DEI can be expected," said Lenna Turner, head of DEI for Salary.com. "Yet, this survey makes clear that most HR practitioners appreciate that DEI principles can positively impact innovation, employee morale, customer satisfaction and the bottom line. As often happens with transformative change, corporate actions are lagging their intentions. But there are also many corporate leaders who are boldly leading the way and I am confident that other organizations will follow. To be competitive, they will have no choice."
Challenges and Benefits of DEI
A lack of time and resources was by far the biggest challenge cited by HR professionals in advancing their DEI efforts, followed by access to sufficient budget, employee participation and leadership accountability and buy-in. Most measure their progress by the number of diverse employees. In the "other" category respondents listed: reduction of any presented pay equity concerns, as well as employee engagement and racial equity surveys.
About the Survey
Salary.com conducted the survey in the spring of 2023 and aggregated the data of 621 participants. The statistics and observations are based on the data submitted by all participants and are audited for quality assurance. Data was collected from survey participants representing 20 industries, including business services, financial services, manufacturing, retail and wholesale, government, and nonprofits. The results represent organization sizes with 0-250 to over 10,000+ FTEs.
About Salary.com
Salary.com® has been solving the complex human capital needs of global organizations for more than 20 years. Today, Salary.com's 30,000 organizations in 22 countries use our solutions to confidently hire and retain talent so they can better compete in a constantly changing landscape. Offering the most precise data set on the market, Salary.com provides more than 10 billion data points across more than 225 industries using a powerful, proprietary AI framework. The company's flagship product CompAnalyst® is the cornerstone of the compensation management software platform. It empowers organizations with a suite of tools that simplifies hiring, eliminates compensation guesswork, and increases retention. Employee trust depends on fair pay and Salary.com's solutions get pay right. For more information, please visit www.salary.com/business.
Media Contact:
Julie Murphy
Director of MarCom
Salary.com
[email protected]
SOURCE Salary.com, Inc.
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