DEI Benchmarking to Achieve Diversity Goals

DEI benchmarking is the process by which companies compare their organization’s diversity, equity, and inclusion against other similar businesses’. Setting workforce diversity goals requires that companies look at talent dynamics through a diversity lens across the total labor market. This means examining demographics like age, gender, race, and ethnicity on a market, industry, and occupational level.

Setting diversity goals is an important step for leadership teams wanting to create more positive and inclusive workplaces. In order to measure progress toward achieving DEI goals, companies need to track DEI metrics. DEI metrics are a way for companies to monitor their DEI efforts and advancement to becoming a more equitable organization. Tracking hiring levels, talent mobility, employee retention, pay equity, and more for diverse workers are all part of diversity metrics. And the foundational piece of DEI metrics is demographics data.

created a targeted recruitment strategy using normalized job titles to provide accurate diversity and inclusion benchmarks for their skilled and college graduate workforce.

Lightcast data helps you understand diversity within different regions and occupations. This is important because diversity varies from region to region and occupation to occupation. In order to have a solid DEI strategy, you need objective facts about the demographics data that fuels DEI.