Investment in DEI budgets is necessary to drive positive change and show true commitment
Tis the season for annual budgeting. For active diversity, equity and inclusion (DEI) leaders, this is the time when you know if your organization is truly committed to inclusion. Investment is necessary for true commitment. Budgets are essential to drive positive change.
For those leaders putting together their budgets and plans for the upcoming year, consider these strategies:
- Calculate the ROI of activities
- Get feedback on what employees want most
- Develop an allyship program
- Spend time 1:1 with senior leaders to cultivate buy-in
- Know your why and share it loudly and broadly
Calculate the ROI
According to the Hubbard Diversity Return on Investment method, all activities related to driving DEI need to be measured for impact. While not all activities have a direct impact, consider some of these calculations:
- (Dollars saved on onboarding with turnover change – investment) / investment
- New investments and new clients gained from focus on inclusion / investment
- Positive employer review savings on recruiting / investment
If you can isolate the investment specifically to….
Read the rest of this article by Julie Kratz on Forbes.com
At Next Pivot Point we have lots of resources to help you facilitate successful diversity and inclusion initiatives. Schedule some time with our team today to discuss where to start or how to do better. You can also check out:
- Our available workshop topics for developing inclusive leaders.
- Our Train the Trainer programs for scalability within your organization
- Our Right-Sized DEI micro-content packages for consistent small-drip content throughout the year.