How can a business harness the benefits of workplace diversity and use them to the company’s advantage?  The solution begins with an efficient, objective measurement tool that facilitates a strategic approach to diversity in current and future business practices.

Harness the Power of Diversity

While corporate executives and business owners are becoming increasingly aware of the importance of workplace diversity and its crucial role in business success, many companies lack a clear picture of diversity in their own workforce. In most cases, business leaders are simply unsure how to measure and track diversity-related data that could be used to improve financial performance, attract innovative thinkers, and establish a strategic business plan. 

One Tool, Countless Applications

DiaWebco has developed an easy, efficient tool to assist businesses in evaluating and managing diversity data—even in companies with hundreds of employees and multiple locations.
DiaWebco’s diversity software is designed to help business leaders 
  • establish a diversity baseline.
  • identify and prioritize internal diversity targets according to leadership goals and strategic business plans. 
  • develop a personalized diversity response plan.
  • ensure conscientious compliance with EEOC guidelines and anti-discrimination laws.
  • systematically evaluate and apply employee, customer, and industry peer feedback on diversity-related issues.
  • quantify the impact of diversity on a company’s bottom line.
  • measure commonalities across HR functions, accurately and objectively incorporating the role of diversity into quality metrics—without relying on subjective or anecdotal data.
  • track and assess diversity-related data long-term.
  • create a scorecard to measure company performance against industry and labor market standards.

Diversity: The Hallmark of a Changing Workforce

In recent years, the U.S. workforce has changed dramatically, becoming more diverse in many sectors:

Race –America’s youth are significantly more racially diverse than previous generations which were predominantly white; projections indicate that by the year 2044, whites will no longer be a racial majority in the U.S. 1

Age – About eight of every ten baby boomers continue to work beyond age 65.2

Gender – Since 2001, nearly 5 million women have entered the workforce—more than double the number of men in the same time period.3

Ethnicity – In recent years, the two fastest growing racial/ethnic groups in the country’s workforce were Asians and Hispanics/Latinos.

“Like the population as a whole, the U.S. workplace is becoming more racially and ethnically diverse. A diverse organization is more innovative, more inclusive and better positioned to capitalize on an ever-changing consumer marketplace.”  - Alex Green, general counsel of Career Builder

The EEO-1

The EEO-1 Report is a compliance survey mandated by federal statute and regulations. The survey requires company employment data to be categorized by race/ethnicity, gender and job category.  The Employer Information Report EEO-1, otherwise known as the EEO-1 Report, is required to be filed with the U.S. Equal Employment Opportunity Commission's EEO-1 Joint Reporting Committee. Reports must be submitted and certified by September 30th.

Save hours compiling the information. DiaWebco's diversity software solution with one click automates the process of tedious data collection and filing of your company's EEO-1 reports.

Reaping the Benefits of Diversity

The advantages of an inclusive workforce are far-reaching, incorporating every aspect of business from financial performance and company growth to increased innovation and more effective problem-solving. Companies that attract and retain a diverse labor pool from different backgrounds and cultures consistently report the following benefits:
  • More Effective Leadership—Diversity among executives contributes to business success by introducing varying leadership styles and innovative approaches to decision-making.
  • Wider Perspective—Organizations with a diverse workforce draw from a larger pool of ideas and experiences, resulting in a broader perspective on customer needs and a wider range of creative ideas and potential solutions to customer issues.
  • Increased Market Share/Better Corporate Performance—Companies with high levels of diversity are often more financially successful and deliver greater returns to shareholders.
  • Better Communication—A diverse collection of skills and experiences—including familiarity with different languages and cultures—results in a heightened ability to communicate with and address the needs of a broad client base.
  • Improved Public Image—Workplace diversity enhances public perception of a company in both the community and industry, since it demonstrates the company’s openness, creativity, and commitment to inclusiveness.
  • Ability to Respond in a Global Marketplace—International trade and increased contact with individuals in corporations and subsidiaries around the world is facilitated by a workforce with a broad spectrum of backgrounds and experiences.

A 2014 study focusing on the percentage of females in senior management positions at 3,000 companies revealed that greater diversity in management is tied to better corporate performance and higher stock market valuations.4