Organisations are at an Inflection Point When it Comes to the Next
Level of Equity, Diversity, and Inclusion
Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud
applications for finance and human resources, today announced the
results of research that highlights that the majority of European
organisations believe their executive teams understand the
importance of equity, diversity, and inclusion (ED&I), and have
invested in the infrastructure to develop it. The research was
conducted in Spring 2021, amongst more than 2,200 HR professionals
and business leaders to understand their motivations, activities
and progress in relation to belonging and diversity (B&D). The
study, conducted in partnership with Workday and Sapio Research,
spanned across 14 countries and showed great progress, but also
indicated clear areas of opportunity.
In support of its Belonging and Diversity programme and its
stated commitment to value Inclusion, Belonging and Equity (VIBE™),
Workday wanted to dive deeper into key trends and uncover more
around the motivations, activities and progress behind them. From
being set up for success with clear goals and using the right data
as a solid basis for informed decisions, to applying a systematic
approach and using the technology needed to drive progress, the
study found that ED&I is moving to the heart of business and
presents an opportunity to create lasting change.
Key highlights of the study include:
- Three in four respondents say their executive leadership teams
see ED&I as important.
- Three in four have a dedicated budget for ED&I
initiatives and one third say they plan to increase this
investment.
- A third say engagement from staff is needed to make further
progress on ED&I.
- A third do not have a strategic approach to ED&I.
- A fifth have taken some initial steps to create one.
- Employee sentiment data is being gathered, but there are
evident obstacles and limitations in what is being collected, and
whether and how it is being used.
- The majority report using technology to support their ED&I
initiatives, but their responses suggest that they are not making
the fullest use of this.
The research also revealed that the organisations surveyed are
at different stages of their journey, but are committed to setting
their teams up for success by putting their trust in data, taking
action to put ED&I initiatives in place and using technology to
help to enable these initiatives.
Strategies That Work, Wherever You are on Your B&D
Journey
To take ED&I to the next level, respondents were most likely
to identify a need for better staff engagement and commitment from
the top, centred on three areas of focus:
- Culture and Strategy Go Hand-in-Hand:The
extent to which organisations have developed a strategic approach
seems to be associated with the maturity of their organisational
culture in relation to diversity.
- Trust in Data and Technology are Interlinked:
Trust in ED&I data is highest where more aspects of diversity
are being monitored, and where technology is being used all the
time to support ED&I.
- Embedding ED&I in the Organisation: Those
that have set up a dedicated, cross-functional ED&I team, are
also very likely to report cross-company traction, and the most
likely to report a commitment to increasing
investment.
Technology Supporting ED&I Initiatives
In support of these strategies, Workday announced its VIBE™
solutions in 2020, to help HR leaders advance B&D within the
workplace.
- VIBE Central: VIBE Central brings diversity
and inclusion-related data into one centralised place in Workday
Human Capital Management,enabling organisations to set goals and
then monitor progress against those goals. Businesses can assess,
measure, benchmark, and manage diversity by the dimensions of their
choice.
- VIBE Index: VIBE Index empowers HR leaders to
set a B&D strategy and create a tailored plan aimed at driving
positive outcomes. It measures the relative performance and
outcomes of an organisation’s efforts across talent acquisition,
talent development, leadership development, employee experience,
and workplace culture to deliver a heat map that identifies the
highest opportunity for positive change, as well as a VIBE Index
score for overall workplace equity.
Comments on the News
“At Workday, we believe that B&D is a journey, and while
we’ve made strong progress we know the path to change isn’t always
quick or linear,” said Carin Taylor, chief diversity officer,
Workday. “We are focusing our B&D efforts on four key
areas—hiring and developing diverse talent, cultivating a culture
of belonging, building inclusive products and technologies, and
strengthening our communities—and I’m encouraged to see other
organisations throughout Europe support these too, as reflected in
the survey findings.”
“At Workday, we work hard to build a diverse workforce. We want
the best thinking to drive the best results and this is why we
VIBE™. This not only guides us internally, but also in how we
engage with our customers; developing innovative products and
solutions to help them support B&D in their workplaces,” said
Carolyn Horne, president, EMEA, Workday. “We hope the research
findings will help us hone our understanding of local needs and
nuances further, to better connect with and serve our customer base
in EMEA.”
Additional Information
The study was conducted by Sapio Research and Workday among over
2,200 HR professionals and business leaders with influence over
ED&I in their organisations across fourteen countries: Austria,
Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the
Netherlands, Norway, Spain, Sweden, Switzerland and the UK. The
interviews were conducted online by Sapio Research in February and
March 2021 using an email invitation and an online survey.
Research analysis was supported by EW Group. EW Group is a
London based consultancy with over 28 years of expertise in the
areas of equality, diversity and inclusion, working with businesses
across the UK, Europe and overseas.
Methodology
Results of any sample are subject to sampling variation. The
magnitude of the variation is measurable and is affected by the
number of interviews and the level of the percentages expressing
the results. In this particular study, the chances are 95 in 100
that a survey result does not vary, plus or minus, by more than 2.1
percentage points from the result that would be obtained if
interviews had been conducted with all persons in the universe
represented by the sample.
About WorkdayWorkday is a leading provider of
enterprise cloud applications for finance and human resource,
helping customers adapt and thrive in a changing world. Workday
applications for financial management, human resources, planning,
spend management, and analytics have been adopted by thousands of
organisations around the world and across industries—from
medium-sized businesses to more than 50% of the Fortune 500. For
more information about Workday, visit workday.com.
Forward Looking Statements
This press release contains forward-looking statements
including, among other things, statements regarding Workday’s
plans, beliefs,and expectations. These forward-looking statements
are based only on currently available information and our current
beliefs, expectations, and assumptions. Because forward-looking
statements relate to the future, they are subject to inherent
risks, uncertainties, assumptions, and changes in circumstances
that are difficult to predict and many of which are outside of our
control. If the risks materialize, assumptions prove incorrect, or
we experience unexpected changes in circumstances, actual results
could differ materially from the results implied by these
forward-looking statements, and therefore you should not rely on
any forward-looking statements. Risks include, but are not limited
to, risks described in our filings with the Securities and Exchange
Commission (“SEC”), including our Form 10-Q for the fiscal quarter
ended July 31, 2021, and our future reports that we may file with
the SEC from time to time, which could cause actual results to vary
from expectations. Workday assumes no obligation to, and does not
currently intend to, update any such forward-looking statements
after the date of this release.
Any unreleased services, features, or functions referenced in
this document, our website, or other press releases or public
statements that are not currently available are subject to change
at Workday’s discretion and may not be delivered as planned or at
all. Customers who purchase Workday services should make their
purchase decisions based upon services, features, and functions
that are currently available.
Media Contact: Kate Falcone
media@workday.com
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