Research shows that a diverse workforce results in improved creativity and better outcomes. Companies that rank highly for ethnic and cultural diversity are one-third more likely to have high profitability. Organizations that prioritize D&I are far more innovation, collaborative, and responsive to customers. One study found that the most diverse organizations scale to 15 times the sales revenue of companies with the least diversity.
So diversity matters. Do you know if your company is one of the strong performers in this critical area?
To be a top-performing organization reaping the benefits of greater diversity, your company must measure its diversity baseline, identify gaps and bottlenecks, and track progress in diversity initiatives. To help our customers’ executives and talent leaders accomplish these objectives in a timely and productive way, we are proud to announce the launch of our Diversity Analytics.
We built Diversity Analytics with the principles of trust, usability, and security:
- Measure diversity of your candidates and hires in terms of gender, ethnicity, region, veteran status, disability, age, and other categories.
- Benchmark against prior time periods, locations, business units, departments, sources of candidates, and more.
- Track the pipeline of diverse candidates through the stages of your hiring workflow. Identify bottlenecks in the process that may prevent diverse candidates from moving forward.
- Filter by attributes of the candidate, position, role seniority, location, and more to probe and develop deeper insight.
- Secure access to the data and share only with authorized personnel.
The Eightfold Diversity Analytics starts with the data in your own applicant tracking system and HR information system. Our technology then organizes the interview process stages to construct the hiring funnel. You can then review detailed, near-real-time data for individual EEOC classes such as gender and ethnicity across the hiring funnel. This analysis is automated, removing the many hours of manual effort previously required to surface this information.
Insights are helpful only to the extent they help guide action and outcomes. Here’s where Eightfold’s full Talent Diversity solution helps you to do:
- Source diverse candidates: Engage diverse candidates in your talent pool with campaigns targeted to specific groups, such as attendees of the Grace Hopper Celebration and AfroTech.
- Attract more diverse applications: Eightfold Personalized Career Site overcomes subtle biases expressed in job descriptions and application processes, encouraging more candidates from underrepresented groups.
- Blind resume screening: Masked Profiles hide all evidence of personal characteristics so decision makers can select candidates without reference to gender, age, ethnicity, and other categories, preventing bias in talent decisions.
- Measure Progress: Diversity Analytics to measure the diversity of your workforce, identify gaps and bottlenecks, and track progress in diversity initiatives.
We’re proud to be bringing visibility to diversity efforts. Talk to us about how you can add these critical tools in your company.