Diversity Scorecard : Evaluating the Impact of Diversity on Organizational Performance

by Hubbard

• ISBN13: 9780750674577
• ISBN10: 0750674571
• Format: Paperback
• Copyright: 2003-12-15
• Publisher: Elsevier Science

Summary

'The Diversity Scorecard' is designed to provide step-by-step instructions, worksheets and examples to help diversity executives and managers analyze and track the impact of their diversity initiatives to mobilize the organization for strategic culture change. Diversity is not a program; it is a systemic process of organizational change that requires measurement for organizational improvement and success. Measuring the progress and results of diversity initiatives is a key strategic requirement to demonstrate its contribution to organizational performance. Diversity executives, professionals and managers know they must begin to show how diversity is linked to the bottom-line in hard numbers or they will have difficulty maintaining funds, gaining support, and obtaining resources to generate progress. Many organizations collect some type of diversity-related data today, even if it focuses only on Affirmative Action statistics. "The Diversity Scorecard" focuses on tools and techniques to make sure diversity professionals are collecting and measuring the right type of data that will help ensure the organization"s success both now and in the future. This book helps the reader spend some time thinking about what they currently measure and adding new measures to a database to track progress towards their diversity vision. The basic premises of this book are that it is important to develop measures that focus on the past, present, and future; and that measures need to consider the needs of the organization"s diverse workforce, its work climate, diverse customers, the community, and shareholders. Part I of "The Diversity Scorecard" identifies the need for diversity measurement highlighting a business case for diversity and providing an introduction to diversity measurement. Part II of the book outlines the diversity return on investment (DROI) process taking you through step-by-step processes and techniques. Part III teaches you how to use measures in six key categories - Diversity Leadership Commitment, Workforce Profile Representation, Workplace Climate, Learning & Growth, Diverse Customer / Community Partnerships, and Financial Impact - to build a diversity scorecard that is aligned and linked with the business strategy of the organization. Finally, in Part IV, Dr. Hubbard discusses implementation issues involving strategic change procedures and techniques to avoid the pitfalls inherent in a diversity-based cultural transition process. * Applies the well-known scorecard method to diversity * Provides a step-by-step approach to measuring the benefits of diversity and converting that into actual dollars * Supplies tools to identify the key indicators for measurement and how to measure them effectively

Table of Contents

Foreword,	xi
Preface,	xiii
Acknowledgments,	xvii
PART I The Need for Diversity Measurement
CHAPTER 1 The Business Case for Diversity	3	(24)
A Diversity Measurement Challenge: How Can We Ensure that Diversity Is "at" the Strategic Business Table, Not "on" the Table?,	3	(2)
Can a Perceived Intangible Asset Like Diversity Generate Tangible Benefits?,	5	(2)
Diversity Facts, Figures, and Financial Performance,	7	(1)
What Do We Mean by Diversity?,	8	(2)
Diversity Provides a Business Advantage,	10	(2)
Failure to Implement a Diversity Program Can Be Costly,	12	(2)
Diversity Links to Productivity and Performance,	14	(1)
Retention,	14	(2)
Productivity,	16	(1)
The Link Between the Lack of Diversity Programs and Absenteeism,	17	(2)
Diversity's Contribution to the Bottom Line,	19	(1)
Building Centers of Diversity Excellence,	20	(4)
Final Thoughts,	24	(1)
References,	25	(2)
CHAPTER 2 Introduction to Diversity Measurement 27
It's All Subjective ... or Is It?,	27	(2)
Reasons for Lack of Quantification in Diversity,	29	(1)
Challenges of Quantification,	30	(2)
The Definition of Measurement,	32	(4)
Outcome Measures or Performance Drivers?,	36	(2)
Building a Solid Diversity Measurement Strategy,	38	(1)
Final Thoughts,	39	(1)
References,	40	(3)
PART II The Diversity Return-on-Investment (DROI) Process
CHAPTER 3 Introduction to the Diversity ROI Process	43	(12)
DROI: A Systematic Approach to Measurement,	43	(7)
The Role of Diversity in Creating ROI,	50	(1)
Identifying Diversity Deliverables,	51	(1)
Developing a High-Performance Work Environment,	51	(1)
Alignment with Strategy,	52	(1)
Diversity Efficiency: Core versus Strategic Measures,	52	(2)
Final Thoughts,	54	(1)
References,	54	(1)
Further Reading,	54	(1)
CHAPTER 4 Planning and Collecting Data	55	(28)
Diversity Evaluation: Project Requirements,	55	(1)
Objectives of the Diversity Evaluation Project,	56	(8)
Aligning and Linking Your Evaluation Strategy with Business Needs,	64	(5)
Collecting Data during a Diversity Initiative,	69	(8)
Collecting Data after a Diversity Initiative,	77	(3)
Reviewing Historical Data,	80	(2)
Final Thoughts,	82	(1)
References,	82	(1)
CHAPTER 5 Evaluating Diversity's Contribution	83	(27)
Isolating Diversity's Contribution,	83	(10)
Convert the Contribution to Monetary Value,	93	(3)
Calculating Diversity Return-on-Investment (DROI),	96	(6)
Importance of Recognizing Intangible Measures in Diversity,	102	(4)
Report It to Others,	106	(3)
Final Thoughts,	109	(1)
References,	109	(1)
Further Reading,	109	(1)
CHAPTER 6 Track and Assess Progress 110
Importance of Tracking and Assessing Your Progress,	110	(1)
Creating Tracking and Monitoring Systems,	110	(1)
Monitoring Your Scorecard Indices,	111	(1)
MetricLINK: An Automated Diversity Measurement System for Tracking Improved Performance,	111	(3)
Survey Analysis System (SAS): A Timesaving Survey Development Tool,	114	(1)
Other Measurement Software Options,	115	(1)
Institutionalizing Your Scorecard System,	115	(1)
Final Thoughts,	116	(1)
Reference,	117	(1)
Further Reading,	117	(4)
PART III Building a Diversity Scorecard
CHAPTER 7 Basic Diversity Scorecard Components	121	(26)
Financial Measurement and Its Limitations,	122	(2)
Origins of the Balanced Scorecard,	124	(1)
What Is a Balanced Scorecard?,	125	(1)
The Balanced Scorecard as a Measurement System,	126	(2)
Perspectives,	128	(3)
The Balanced Scorecard as a Strategic Management System,	131	(1)
The Balanced Scorecard as a Communication Tool,	131	(1)
What Is a Diversity Scorecard?,	132	(13)
Final Thoughts ,	,145
References,	145	(2)
CHAPTER 8 Diversity Leadership Commitment Perspective	147	(23)
Definition,	147	(5)
Collecting Data,	152	(11)
Analyzing Data,	163	(1)
Reporting Data,	164	(3)
Final Thoughts,	167	(2)
References,	169	(1)
Further Reading,	169	(1)
CHAPTER 9 Workforce Profile Perspective	170	(31)
Definition,	170	(6)
Collecting Data,	176	(14)
Analyzing Data,	190	(4)
Reporting Data,	194	(4)
Final Thoughts,	198	(1)
References,	199	(1)
Further Reading,	199	(2)
CHAPTER 10 Workplace Culture/Climate Perspective	201	(21)
Definition,	201	(1)
Organizational Commitment,	202	(2)
Collecting Data,	204	(6)
Analyzing Data,	210	(5)
Reporting Data,	215	(4)
Final Thoughts,	219	(1)
References,	220	(2)
CHAPTER 11 Learning and Growth Perspective	222	(20)
Definition,	222	(4)
Measuring Capabilities,	226	(4)
Collecting Data,	230	(5)
Analyzing Data,	235	(3)
Reporting Data,	238	(2)
Final Thoughts,	240	(1)
References	240	(1)
Further Reading,	241	(1)
CHAPTER 12 Diverse Customer/Community Partnership Perspective	242	(24)
Definition,	242	(5)
Supplier Diversity,	247	(3)
Collecting Data,	250	(7)
Analyzing Data,	257	(3)
Reporting Data,	260	(1)
Final Thoughts,	261	(4)
References	265	(1)
Further Reading,	265	(1)
CHAPTER 13 Financial Impact Perspective	266	(26)
Definition,	266	(1)
The High Cost of Human Asset Mismanagement,	267	(3)
Applications of Financial Impact in the Public and Not-for-Profit Sectors,	270	(1)
Performance Measurement in the Public Sector,	271	(5)
Collecting Data,	276	(7)
Analyzing Data,	283	(5)
Reporting Data,	288	(1)
Final Thoughts,	289	(1)
References,	290	(1)
Further Reading,	291	(1)
CHAPTER 14 Building Your Diversity Scorecard	292	(23)
Prerequisites for Success,	292	(1)
Diversity Measurement Is a Specialized Discipline Requiring Special Expertise,	293	(2)
The Diversity Scorecard Team,	295	(1)
Building a Diversity Scorecard: The Process,	296	(10)
Selecting the Structure for Your Diversity Scorecard,	306	(6)
Final Thoughts,	312	(1)
References,	312	(1)
Further Reading,	312	(3)
PART IV Implementation Issues
CHAPTER 15 Achieving Strategic Alignment from Top to Bottom	315	(11)
Creating a Strategic Link,	315	(4)
Communication and Education Programs,	319	(2)
Communicating with the Board of Directors and External Shareholders,	321	(1)
Reward Systems Linkage,	322	(2)
Final Thoughts,	324	(1)
References,	324	(1)
Further Reading,	325	(1)
CHAPTER 16 Implementing the Diversity Scorecard Process	326	(13)
Strategies for Implementing Your Diversity Scorecard,	326	(1)
Permanent White Water,	327	(1)
Change as a Paradox,	328	(1)
Analyzing Readiness for Change,	328	(8)
Building a Rationale for Change,	336	(1)
Final Thoughts,	337	(1)
References,	338	(1)
Appendix A: Hubbard Diversity Measurement and Productivity (DM&P) Institute,	339	(4)
Index,	343	(4)
About the Author,	347