Research

Creating a DEI Strategy: Ask Catalyst Express

Nov 30, 2021

An organization’s diversity, equity, and inclusion (DEI) strategy should be aligned with its business goals and company values. In addition, the strategy needs to be grounded in the real needs of the organization based on hard data collected and analyzed as a part of the organizational assessment process. A successful DEI strategy is focused on creating an inclusive culture that is both unique to the organization and sustainable. For organizations starting a diversity initiative, the following entries in the Ask Catalyst Express series will be especially helpful:

Catalyst Resources on Creating a DEI Strategy

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Practices

  • RBC: Speak Up for Inclusion Supporter Exclusive
    “RBC’s five core values—Client First, Collaboration, Accountability, Diversity & Inclusion, and Integrity—CEO Dave McKay and the Diversity Leadership Council that he chairs have made it a priority to continuously refine the bank’s strategy and adapt it to changing times. They started this work by refreshing the company’s Diversity & Inclusion Blueprint, which guides all of RBC’s diversity initiatives in three focus areas—talent, clients, and communities. This process was not a matter of making a few superficial changes to programming and targets; it was a genuine reassessment of the state of the company in terms of D&I that led to changes with repercussions throughout the business.”
  • Eli Lilly and Company – Employee Journeys and People Strategy Supporter Exclusive
    “Eli Lilly and Company, a global pharmaceutical company, turned its go-to-market expertise in understanding patient journeys inward to better understand employees’ career journeys and barriers to advancement. The initiative’s focus on “moments of truth” and creating a common language has helped employees more easily relate to and understand one another’s individual and cultural experiences. The result is a strong, companywide network of allies and champions.”
  • Scotiabank—Unlocking Potential, Delivering Results: The Advancement of Women (AoW) Initiative Supporter Exclusive
    “Scotiabank is a customer-driven organization. By recognizing that a diverse workforce is critical to meeting customers’ needs, the President and CEO and Executive Management Committee (EMC) drive the AoW initiative throughout the company. In fact, the initiative’s strong focus on metrics and business results has facilitated a major shift so that AoW pursuits are embedded into core processes, and the advancement of women is an ongoing and integrated part of doing business. Scotiabank grounded the AoW initiative in data and metrics, and focused on executing the strategy and elements. The Balanced Scorecard performance-evaluation process is an additional mechanism that ensures that the initiative and business rationale are integrated.”
  • Unilever—Global Reach With Local Roots: Creating a Gender-Balanced Workforce in Different Cultural Contexts Supporter Exclusive
    “Senior leaders throughout Unilever demonstrate passion for and commitment to gender diversity. The company’s leadership recognizes that its diversity programs are a sound business strategy for growth and sustainability. Their commitment is upfront and visible, and they support the initiative not because it’s mandated by the CEO but because they see it as crucial to the company’s success. This is true of all senior leaders serving as mentors, and it is demonstrated by the fact that diversity is a standing agenda item at Board of Directors and internal executive meetings.”

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Other Resources on Creating a DEI Strategy

 

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