Academic and industry research shows a correlation between diversity, equity and inclusion (DE&I), and outperformance. Unfortunately, attention to this topic is frequently focused on outputs (e.g., diversity percentage of boards/senior executives/workforce ) rather than inputs (e.g., equitable approaches to talent acquisition, remuneration, promotion, and retention).
When we advise on DE&I issues, we look to understand the inputs in the first instance. Oftentimes a review of policies or practices can uncover structural or behavioural root causes that can be addressed. This provides context to our reviews of outputs, whether that be conducting a gender pay gap analysis (aligned with the Workplace Gender Equality Agency) or a review of executive or technical role diversity statistics.
Through developing a shared understanding of our clients’ DE&I inputs and outputs we can guide our clients to set meaningful metrics and targets for DE&I, including measurable objectives for the purposes of compliance with the ASX Corporate Governance Council Principles and Recommendations.