2024 年多樣性數(shù)據(jù)指南（英）-18正式版

DIVERSITYDATAGUIDE2024GuidanceonthecollectionanduseofdatatoenhanceworkforceEDIJuly2024ABOUTTHEINVESTMENTASSOCIATION(IA):TheIAchampionsUKinvestmentmanagement,supportingBritishsavers,investorsandbusinesses.Our250membersmanage￡8.8trillionofassetsandtheinvestmentmanagementindustrysupports126,400jobsacrosstheUK.Ourmissionistomakeinvestmentbetter.Betterforclients,sotheyachievetheir?nancialgoals.Betterforcompanies,sotheygetthecapitaltheyneedtogrow.Andbetterfortheeconomy,soeveryoneprospers.Ourpurposeistoensureinvestmentmanagersareinthebestpossiblepositionto:?Buildpeople’sresilienceto?nancialadversity?Helppeopleachievetheir?nancialaspirations?Enablepeopletomaintainadecentstandardoflivingastheygrowolder?Contributetoeconomicgrowththroughtheef?cientallocationofcapitalThemoneyourmembersmanageisinawidevarietyofinvestmentvehiclesincludingauthorisedinvestmentfunds,pensionfundsandstocksandsharesISAs.TheUKisthesecondlargestinvestmentmanagementcentreintheworld,aftertheUSandmanagesoverathird(37%)ofallassetsmanagedinEurope.DIVERSITYDATAGUIDECONTENTSIAFORWARD04050608PwCINTRODUCTIONBACKGROUND:THEEVOLVINGREGULATORYLANDSCAPESECTION1:IMPROVINGTHEQUALITYOFYOURDATAIMPROVINGENGAGEMENTANDBUILDINGTRUSTSECTION2:USINGDIVERSITYDATATODEVELOPEDISTRATEGIES,INTERVENTIONSANDTARGETS12EMPLOYEELIFECYCLEANALYSISINCLUSIONANDCULTUREANALYTICSDETERMININGSTRATEGIESANDINTERVENTIONSHOWTOSETDIVERSITYTARGETSSECTION3:MONITORINGEDI:MANAGINGRISKSANDBUILDINGACCOUNTABILITY1517WHATAREEDIRISKS?ACCOUNTABILITYANDGOVERNANCEFOREDICONCLUSION3THEINVESTMENTASSOCIATIONIAFORWARDCultivatingarobustworkplacecultureisanindustrypriority,giventhedirectlinkbetweenhealthyculturesandpositivebusinessoutcomes.Inrecentyears,?rmshaveevolvedtheirapproachtoequity,diversityandinclusion(EDI)drivenbyincreasedcustomerexpectations,societalchangesandemergingregulatorymandatesfromgovernmentandregulators.Asaresult,thereisastrongeremphasisondiversitydatacollection,enabling?rmstogaindeeperinsightsintotheirworkforcecompositionandaccuratelyreportonit.encouraginghigheremployeeresponseanddisclosurerates.InsightsfromourcomprehensiveEDISurveyindicatethatsubstantialdevelopmentisstillneededinthisarea.WorkinginpartnershipwithPwC,ourdataguideofferspracticalsupporttoourmembersinimprovingtheaccuracyandreliabilityoftheirworkforcedata.Tailoredfor?rmsofallsizesandatvaryingstagesintheirdatacollectionjourney,thisguideprovidespracticaltoolsandguidanceforimproveddataintegrityandanalysis.Amidsttheevolvingregulatorylandscape,ourguideaimstohelpyounavigatethedatacollectionandanalysisprocesssmoothly,ensuringyour?rmiswell-preparedforcurrentandfutureregulatoryrequirements.Wesincerelythankourmembersfortheirvaluableparticipationinhelpingtoshapeourguide.KarisStanderDirector-Culture,Talent&Inclusion,MDInvestment20/20TheInvestmentAssociationFirms,fromlargemultinationalstosmallerboutiques,areseekingtoimprovetheintegrityandqualityoftheirdiversitydatatoensureitaccuratelyre?ectstheirworkforce.Thisfocusallowsformeaningfulanalysistoinformstrategies,interventionsandprocesses,aswellastotrackprogressovertime.Achievingthisrequires4DIVERSITYDATAGUIDEPwCINTRODUCTIONIn2021,PwCUKandtheInvestmentAssociation(IA)createdaDiversityDataGuidethatprovidesguidancefororganisationsbeginningtheirdiversitydatajourneys,including:challengesastheirjourneyprogresses,suchashowtoincreasedisclosureratestogainmoremeaningfulanalysis,andhowtomosteffectivelyusetheirdatatocreatetailoredandtargetedactionplans.?Whyshouldorganisationscollectdiversitydata?Withthisinmind,PwCandtheIAhaveworkedtogethertodevelopthisguideinordertorespondtomemberfeedback,andprovidedeeperinsightsinlightofthechangingregulatorylandscapeon:?Canorganisationscollectdiversitydataandwhoshouldbeinvolved??Whatprocessshouldorganisationsfollowwhengatheringthisdata??Improvingyourdataquality:Strategiestoenhancedisclosureandimproveresponseratesthrougheffectivecommunicationandcrossstakeholdercollaboration.?Whatdatashouldorganisationsbecollecting??Howdoorganisationsanalysethisdata??Howdoorganisationsrespondtothisdata??UsingdiversitydatatodevelopEDIstrategies,interventionsandtargets:Guidanceonusingthedatayou’vecollectedeffectively,todetermineyouractions,developyourstrategyandbuildaclearnarrative.Intheyearssince,thelandscapehasshifted:evolvingregulation,marketnormsandpublicperceptionhaveallmeantthatEDIhascontinuedtoriseuptheagenda.Asaresult,manyorganisationsarefacingnew?MonitoringEDIasabusinessrisk:GuidanceoncapturingEDIrisksandusingdiversitydatatoeffectivelymonitorandgovernactivities.WewouldliketothanktheIAforcontinuingtodriveforwardthisimportantagenda,andthemembersoftheIA’sDiversityDataWorkingGroupwhocontributedtheirexperiencesandthoughtstohelpshapethisdocument.Fororganisationsattheearlystagesoftheirdiversitydatajourney,orforthoselookingforareminderofcertainaspects,werecommendalsoreadingourinitialguide.Wehopethisguideisausefultoolfororganisationscontinuingtoprogressontheirdiversitydatajourney.5THEINVESTMENTASSOCIATIONBACKGROUND:

THEEVOLVINGREGULATORYLANDSCAPETheUK?nancialservicesregulatorshaveproposedwide-rangingandcomprehensiveDiversityandInclusion(D&I)regulations.InSeptember2023,theFinancialConductAuthority

(‘FCA’)andthePrudentialRegulationAuthority

(‘PRA’)publishedtwoconsultationpapers(‘CPs’)settingouttheirproposalstointroduceanewregulatoryframeworkonD&Iinthe?nancialsector.ThetwoCPs,whicharebroadlyconsistent,setoutproposedreportingandtargetsettingrequirements,alongsideexpectationstoembedD&Iintoriskandgovernanceframeworks(acomprehensivesummaryoftheproposedregulationscanbefoundhere).?nancialmisconductelementsoftheirCPsaheadofrequirementsondiversitydatareportingandtargets.However,diversitydatareportingandtargetsremainapriorityformany?rms.Whileregulatoryproposalstarget?rmsoverthe250threshold,it’simportanttonotethatdatacollectioneffortsextendbeyondthisthreshold.Infact,?rmsoutsidetheregulatoryscopearealreadyactivelyengaginginemployeedatacollection.Nearly50%oftherespondentstotheIA’sEDIDataSurvey,doneinpartnershipwiththeThinkingAheadInstitute,fellbelowthe250threshold.TheCPsemphasisethatD&Ishouldbeconsideredanon-?nancialriskandtreatedassuchinexistingriskmanagementprocesses.Riskandcontrolfunctionsmayplayaroleinmanagingtheserisksandensuringeffectivecompliance.Thisfurtheremphasisestheneedforqualitydata,whichcanbeeasilymonitoredandmaintainedtohighstandards.Theseproposedregulationsmayimpacthoworganisationscollectandreportondiversitydata.For?rmswithover250employees,thisincludescollectingandreportingondataforage,sexorgender,ethnicity,disability,sexualorientationandreligion.Voluntarydisclosureisrecommendedforgenderidentity,socio-economicbackground,parentalresponsibilitiesandcarerresponsibilities.Firmswouldalsoberequiredtoannuallyaskemployeessixspeci?cinclusionquestionsandpublishresponses.ItshouldbenotedthatsincethepublicationoftheCPs,followingtherecommendationsoftheTreasurySelectCommitteeInquiryinto‘SexismintheCity’,theFCAandPRAhaveindicatedthattheywillbeprioritisingthenon-RegulationsbeyondtheFinancialServicesindustryarealsopayingmoreattentiontoEDIthaneverbefore.Diversityreportingisexpandingtoincludeawiderrangeoffactorsbeyondgender,withsomeorganisationsadaptingtheirdatacaptureandanalysistoalignwithglobalpracticesandstandards.Thegraphbelowhighlightsanumberofthesekeydirectivesandregulation,bothincomingandcurrent.Internationalsustainabilityreportingframeworks(CSRD,ISSBandSEC)UKgenderpaygapreportingGenderspeci?cTheFTSEWomenLeadersReviewEUpaytransparencydirectiveFCAlistingrulesondiversityrepresentationonBoardsandExCoVoluntaryglobalsustainabilitydisclosuresInvestorguidanceIncludingbroaderdiversityUKethnicityanddisabilitypaygapreportingTheParkerReviewDE&Ireportingstandards/bestpracticeframeworksFCAandPRAdiversityandinclusionregulationKey:MandatoryVoluntarySectorspeci?cAnticipatedSource:PwC6DIVERSITYDATAGUIDEKeyexamplesinclude:?TheCorporateSustainabilityReportingDirectiverequiresabroaderrangeofdisclosuresregardingdiversity.Beyondgender,thelegislationalsoincludesdisclosurerequirementsonthepercentagesofemployeeswithdisabilities.Subjecttomaterialityassessments,theserequirementsmayresultinorganisationsneedingtocollectand/orimprovetheirdisclosureratesfordisabilitydata.Theseregulationswillaffectmanycompaniesacrosstheworldduetothebroadscopeofthelegislationandgroupreportingrequirements.?TheParkerReview

askinglistedandlargeprivatecompaniestosettargetsfortheproportionoftheirseniormanagementwhoarefromanethnicminoritybackgroundTocomplywiththeseproposedregulations,?rmsmayneedtobroadenthecollectionoftheirdiversitydata,whilealsoensuringthattheyhavesuf?cientresponseratestocarryoutmeaningfulanalysisanddisclosures.Theywillthenneedtobeequippedtoanalysethisdata-inordertodetermineactions,setstrategiesandbuildmeaningfulnarrativestosupportanydisclosures.Manyorganisationsaregoingbeyondthesemandatoryoranticipatedrequirements,andaremakingadditionalvoluntarydisclosuresonrepresentation,paygapsandEDItargets.?TheEUPayTransparencyDirective

willrequireorganisationswithanyworkersinEUmemberstatestoimplementaseriesofmeasurestoensurepaytransparency.Theseincludeexternalgenderpaygapreporting,internalequalpayassessments,employeeshavingtheabilitytorequestinformationonindividualpaylevel,prospectiveemployeesbeingabletorequestpayinformationandadditionaldisclosuresoncompensationstrategy.TheoverallaimoftheEUPayTransparencyDirectiveistoincreasetransparencyacrosstheEU.?TheLabourgovernment

haveindictedthattheywillintroducemandatoryethnicityanddisabilitypayreportingforlarger?rms,alongsiderequirementstodevelop,publishandimplementactionplanstoclosegenderpaygaps.Whiledetailsandtimingsofthishavenotbeenprovided,nowthatLabourhaveformedagovernment,?rmsshouldanticipatefutureregulationhere.Thismayrequireorganisationstostartcollectingand/orimprovetheirdisclosureratesfordataonethnicityanddisability.7THEINVESTMENTASSOCIATIONSECTION1:IMPROVINGTHEQUALITYOFYOURDATAThevoluntarynatureofdiversitydatacollectioncanmeanthattheproportionofemployeeswhohavesharedtheirdiversitydatamayberelativelylow.Thismeansthattheremaybegapsinthedata,makinganalysis,year-on-yearcomparisonsandstrategydevelopmentmorechallenging.withsharingpersonalinformationinaworkcontext,anduncertaintyabouthowpersonaldatawillbeused.Characteristicshistoricallycollectedduringhiringandonboardingprocessestypicallyhavehigherratesofpersonaldisclosure.Tounderstandwhatmightbedrivinglowresponserates,itisadvisabletobeginwithananalysisofthedatayoualreadyhave.Forexample,ifahighproportionofpeoplechoose‘prefernottosay’,thislikelyindicatesalackoftrustwhensharingpersonalinformation.Whereas,ifemployeeshavenotloggedintothesystemtoentertheirdata,itmayindicatealackofengagement.Itwouldbehelpfultogatherfeedbackfromemployees,suchasviafocusgroups,tobetterunderstandanyconcernsorhurdlestheymighthavearoundprovidingdata.TheIA’s2023industry-wideEDIDataSurveyidenti?edthetoptwochallengesincollectingemployeedataasconcernsarounddataprivacy,andlackofengagement.Alongsidethis,speci?cpersonalattributesoftenhavelowerresponserates.Thiscanbeattributedtounfamiliaritywithrequestsforpersonaldatabeyondthetraditionalcategoriesofageandgender,discomfortAnongoingchallengeofdiversitydatacollectionisestablishingbothengagementandtrustwithintheworkforcetoencouragethemtosharethisdata.CHART1:TOPCHALLENGESINCOLLECTINGDIVERSITYDATAFROMINDIVIDUALEMPLOYEESConcernsoverdataprivacy76%47%ApathyConcernsoverreprisalordiscriminationTimeconstraints38%31%LackofemployeesupportforachievingEDIobjectives22%Wedonotfaceanychallenges/barriersincollectingdiversitydatafromemployees13%33%OtherTheIA’s2023industry-wideEDISurveyidenti?edthetoptwochallengesincollectingemployeedataasconcernsarounddataprivacyandapathy.Source:TheIA2023industrywideEDISurvey8DIVERSITYDATAGUIDECHART2:RESPONSERATESACROSSATTRIBUTESFORFIRMSCOLLECTINGTHEDATAAgeGender94%2%4%84%12%2%2%2%8%14%2%Ethnicity52%34%9%CaringresponsibilitiesReligion/belief31%27%26%46%50%15%9%21%Disability29%48%6%18%SexualorientationNeurodiversity18%3%6%15%24%15%19%15%14%23%29%31%29%Socio-economicbackground10%100%-80%80%-50%50%-20%20%-0%Notsure/Don'tknowFor?rmscollectingdiversitydata,thereisgenerallyapositivecorrelationbetweentheoveralldatacollectionratesandresponserates.Thehighestcollectionratesaretypicallyseenforcharacteristicshistoricallygatheredduringhiringandonboardingprocesses.Source:TheIA2023industrywideEDISurveyIMPROVINGENGAGEMENTWheretherearelowresponseratestodiversitydatacollectionefforts,anissuemaybelowengagementlevelswithparticipants.Thiscouldbedrivenbyalackofclearfeedbackandresults,oremployeesbelievingthattherequestisnotapplicableorrelevanttothem.?Combattingsurveyfatigueandapathy:ConnectingyourHRsystemsandsurveyscanhelptoensurethatemployeesarenotrepeatedlyaskedtoprovidethesameinformation.Itcanbehelpfultoaskemployeestoprovidediversitydataattimeswhentheymightalreadybeengagedinsharinginformation,forexample,asanewjoinerorwhencompletingannualtrainingactivities.Techniquestoaddressthisinclude:?Demonstratingrelevancetotheindividual:Communicatingthecompany’sEDIaimsplacesitattheheartofthebroaderbusinessstrategyandincreasesemployeeengagement.Targetedcommunicationcanimprovethisbypositivelyengagingwithemployeesonwhytheirdataisneededandhowitwillinformactionsandoutcomes.Workwithmanagementtobuildengagementinareaswithlowerresponserates,andleverageemployeenetworkgroupswhereavailabletoincreaseengagementwithspeci?cgroups.?Makeitsimpleandaccessible:Thetechnologyusedshouldbesmoothandsimpletouse,easilyaccessiblefromarangeofdevices,andclearlysetout.Linkstotherelevantportalshouldbeeasyto?ndandrepeatedlyreferencedwithincommunications,alongsidestep-by-stepguidanceandclearlysignpostedforms.9THEINVESTMENTASSOCIATIONBUILDINGTRUSTTobuildhighresponseratesofaccuratedata,itiscrucialtobetransparentaboutwhyyou’recollectingthisdata,andhowyouintendtouseit.Potentialwaystoaddressthisinclude:?Leadingbyexample:Seniorstakeholderscommunicatingwiththewiderworkforce,explainingthepurposeofdiversitydatacollection,canoftenincreaseengagementwithemployees.Bysettingapositivetonefromthetopand?Creatingengagementcampaigns:Drivingengagementviacampaignscanhelptobuildenthusiasmandawareness.Internalmarketingtoolssuchasscreensavers,onlinepromptsand‘countmein’programmescanbeutilised.Engagingkeyemployeestobecomeambassadorsfordiversitydatacollectioncanenableabridgebetweenseniorleadershipandemployees,providingtheworkforcewithavoice.Thisaccessibilitytothewiderworkforcepromotesamorecollaborativeapproachindrivingtheseinitiativesforchange,whichcanimpactdiversitydisclosurerates.enhancingtransparencyoftheEDIagendaanditsoutcomes,itcanbuildtrust.Havingseniorleadershipcommunicatingthisstrategysignalsyourorganisation’sintentandcommitmentinternallyandexternally.Thisapproachshouldbecascadeddowntoteamleaderlevel,ascommunicationfromawell-knownleaderisusuallymostimpactful.Oftenthiscanbedonethroughavarietyofwaysincludingemailcommunications,videomessagesandQ&Asessions.Similarly,regulardiscussionsofdatacollectionatteammeetingsortownhallsareagoodwayforleaderstodemonstratetheirfocusandcommitmenttothisexercise.CASESTUDY:‘COUNTMEIN’DAY“Wehelda‘CountMeIn’daylastyearacrossof?cesindifferentregions,butthiscanbedoneevenifyouhaveasmallof?ce.Weplacedastandinourlobbywherepeoplewerecomingthroughandaskedthemtosharetheirdata.Ithadamaterialimpactonournumbers.Justbytalkingandengagingpeople’ssentimentasitrelatestotrustandlettingthemknowwhatwewereplanningtodowiththedataseemedtoseemtowork.”10DIVERSITYDATAGUIDESTAKEHOLDERSTOINVOLVE?Howdatawillbeprocessedandprotected:Provideclearinformationaroundhowthedatacanandcannotbeused,whocanseeit,securitymeasuresinplace,andhowitwillbetreated–referencinganykeypoliciessuchasGDPR.IfdataiscollectedviaaHRsystem,remindemployeesthattheycanremovetheirdatafromthesystematanytime.Leadership–Boardlevelbuy-iniscrucial,asitactsasaninternalandexternalsignalofyourorganisation’sintentandcommitment.Involvingseniormanagementin?rmwidecommunicationscanhaveapositiveimpactonemployeedisclosureasitdemonstrateshowthebusinessisprioritisingthecampaign.Leadershipcanalsoensuretheactivityisprioritised,resourcesareallocatedandinternalchallengesareovercome.?Howthedataisused:Communicatehowthedatawillbeusedaspartofthebroaderstrategy,settingoutthenextstepsandtiming.Betransparentwithyour?ndingstodemonstratethisfollowthroughandfurtherbuildtrust.Bylinkingthedatatoactionsaroundthebroaderpeoplestrategyandinclusionefforts,employeescanseethatthedataisbeingusedtosupportanddevelopthecompanyandcultureasawhole.HR–HRhaveakeyroletoplayinbuildingtheinternalbusinesscase,ensuringthedatacollectioncampaignalignswithexistingEDIinitiatives,stakeholderengagementandanalysingandreportingonthedataasitiscollected.Asdiversitydataisalmostalwayscollectedonavoluntarybasis,tobesuccessfulitisvitaltohaveaclearengagementplan.Gettinggoodresponseratescanbechallengingandsobuildingaclearcommunicationsstrategyfromthestartwillbecriticaltosuccess.Identifyyourkeymessages,channelsandstakeholdersandhowthesecanbeadaptedtoreachdifferentemployeegroups.Establishingtrustiskeytodrivinghigherresponseratesofaccuratedata.Inordertoachievethis,itiscrucialtobetransparentaboutwhyyou’recollectingthisdata,andhowyouintendtouseit.HRSystems/InformationTechnology–Someorganisationswillhaveinternalteamswhocanhelpwithcon?gurationofthesystemtocollectdata,whilstotherorganisationsmayneedtoliaisewiththeirITdepartmentoruseexternaladvisorstosupportthisprocess.Legal,dataprotectionandcompliance–Consultinternallegalprofessionals,dataprotectionexpertsorexternallawyerstoensurecompliancewithrelevantdataprotectionandemploymentlegislation.Inaddition,involvingcomplianceteamstoensurealignmentwithevolvingregulatoryrequirementscanassistincompliance.Forfurtherdetailonstakeholderstoinvolve,pleaseseemoreinformationhere.11THEINVESTMENTASSOCIATIONSECTION2:DEVELOPINGSTRATEGIES,INTERVENTIONSANDTARGETSRegulatoryframeworksandmarketpracticesareevolving,expandingtheirfocusfromBoarddiversitytodeeperwithinorganisations.TheFCAandPRAregulatoryproposalsmayrequirearangeofdiversitydemographicstobecollectedthroughouttheorganisation;theWomeninFinancechartercallsfor?rmstosetgendertargetsforseniormanagement;similarly,theParkerReviewasks?rmstosetethnicitytargetsforseniorSettingeffectivetargetsoftenrequiresadata-drivenanalysistounderstandthedemographiccompositionofyour?rmandidentifyanyfactorsthatmaycontributetorepresentationgaps,iftheyexist.Thisanalysishelpsassesshowtargetedinterventionsandpoliciescanpotentiallyimproveequityinopportunity,therebyadvancingrepresentationwithintheorganisation.PwC’smethodologyanalysesboththeemployeelifecycle,aswellastheemployeeexperienceviainclusionandcultureanalytics.Thesecanbeusedtohelpunderstandwhatisgoingonwithintheorganisationandwhy,enablingthedevelopmentofdata-ledstrategiesandtargets.management.EMPLOYEELIFECYCLEANALYSISCompaniesshould?rstunderstandthecurrentpositionand,ideally,historicemployeemovements,ifthatdataisavailable.Bylookingatrecruitment,attritionandpromotionratesaccordingtodiversitydemographics,youcanidentifytrendsandpotentialareasforimprovement.Organisationscandevelophypothesesaroundwhatmightbedrivinganygaps,whichcanbetestedusinginclusionandcultureanalytics.Analysiscanbeundertakentoin?uenceLeavingtalentmanagementandsuccessionplanningwithadiversitylens,identifyingthenextgenerationofleadersandusingdiversitydatatoensurethatpeoplefromallbackgroundsareabletosucceed.Joining0201ProgressingYoucanlookatthediversity03ofyourjoinerstodeterminehowyouarerecruitinginthecontextofyourtalentpoolandgeography.It’simportanttoanalysediversityinyourleavers,takingnoteofgrades,departmentsetc.astherateatwhichyourpeopleleavecansigni?cantlyimpactthediversityofyourworkforce,andhigherattritionratesforcertainpopulationscanalsobeanindicatorofsystemiccultureproblems.Additionally,youcananalysediversityateachstageoftherecruitmentcycletodetermineanybiaseswithinyourrecruitmentprocesses.12DIVERSITYDATAGUIDEINCLUSIONANDCULTUREANALYTICSConductingadditionalqualitativeresearchthroughmethodssuchasemployeeinclusionsurveys,exitinterviews,andfocusgroups,providesanopportunitytogaindeeperinsightsintoyourworkforce.Forexample,someemployeesmayexperiencealackofinclusionwithintheworkforcewhichcanleadtoincreasedattritionrates.Asaresult,targetedprogrammescanbedevelopedtoincreasefeelingsofinclusion.Onceyouhaveidenti?edkeydriversin?uencinginclusionandprogressionwithinyourorganisation,youcanbegintodeveloptailoredinterventionstoaddresstheseissues.DataplaysacrucialroleinhelpingcompaniestoDETERMININGSTRATEGIESANDINTERVENTIONSdevelopanevidenced-basedEDIstrategy,retainingacommerciallenstofocusonthemostcriticalandimpactfulinterventions.AstheEDIstrategymatures,datacanbeusedtocontinuetotesttheoutcomesoftheseinitiativesandfurtherre?nethestrategy,alongsidequalitativeanalysis.Theriskofpursuingdiverseemployeerepresentationwithoutcarefulplanningtoaddressunderlyingfactorscontributingtorepresentationgapsisthatitcanleadcompaniestoprioritise‘quick?xes’oversustainable,long-termstrategies.Themostimpactfulinterventionsfocusoncreatinganinclusiveenvironmentwherealltalentcanthrive,ratherthansolelyaddressingrepresentationgapsthroughrecruitment,withoutmakingthenecessarychangestotheenvironmentandprocess.Where?rmsdonothaveaninclusiveculture,attritionofemployeesfromminoritydemographicscanbeparticularlyhigh,counteractingrecruitmentefforts.HOWTOSETDIVERSITYTARGETSIdentifyingbarriershelpsorganisationscreate,understandandmonitoreffectivetargetstodrivechange,usingtheirexistingdatatoguideandinform.Withoutthis,organisationsoften?ndtheirtargetsareeitherunrealisticorlackaspirational.Thiscanthenleadtoinactionorthewrongactionsbeingtakentotryandsolvetheoutcomeratherthantherootcause.13THEINVESTMENTASSOCIATIONInternalmetrics?Historicaltalent?ows?Dataandworkforceplanning?Crossdepartmentalcomparisons?OtherrelevantareasTargetSettingbasedonagreedinterventionsRecruitmentProgressionAttritionCurrentworkforcerepresentationFutureworkforcerepresentationImprovingdiversityinrecruitmente.g.debiasingrecruitmentprocess,AimingforgreaterproportionalityofpromotionsbymitigatingbiasesinImprovingretentionandreducinggapsinattritionthroughafocusonculture,broadeningrecruitmentchannelsandcollaboratingwithrecruiterspromotionandperformancemanagementprocessesinclusionandtheemployeevaluepropositionExternallabourmarketinsights?Nationalstatistics?Universitygraduate?gures?Datafromindustrybodies?BenchmarksfromotherorganisationsSource:PwCPwC’stargetsettingmethodology,showninthediagramabove,buildsontheemployeelifecycleExternalperspectivesfromindustrydataandbenchmarkssuchastheIA’sEDIDataSurvey

arehelpful.Lookingatexternalmetricsbasedonlocation,industryandquali?cationcanbeahelpfulinputtoensurerecruitmentinterventionsarerealisticandalignedtotheavailabilityoftalent.However,itisimportantnottoover-relyonexternaldataorpeers’targetswhensettingyourown,aseachcompanywillhavedifferencesinoperatingmodel,strategyandcircumstancesthatcanimpactdiversityrepresentation.analysisbymodellingforwardhowrepresentationwillchangeoverthenext3-5years,ifhistoric?owratesaremaintained.Thiscreatesabaselinescenario,uponwhichfurtherscenarioscanbebuiltbyadjustingthe‘levers’ofrecruitment,promotionandattrition.