Finance Monthly - January 2022

surveyed agreed that technology would make achieving D&I goals easier. But the right technology is no longer merely a nice-to-have; it is critical to the future of inclusion. According to the leaders who indicated that the pandemic had a positive impact on D&I, technology made a number of key differences. First, 46% found that remote working and digitalisation made it easier to recruit employees from under-represented groups, while 45% claimed that accelerated digital transformation has led to the adoption of new tools that support inclusivity, connectivity, and engagement. Additionally, 43% indicated that a hybrid workforce enables companies to adopt a wider variety of D&I-informed practices. The importance of data should not be understated either, both for driving initiatives and for measuring their effectiveness – almost half (49%) of respondents think that technology could provide data and analytics for accurate tracking and progress. There’s no doubt that technology is an effective enabler of D&I. However, it must not – and cannot – be the main driver for change. This critical role needs to remain with business leaders themselves. Our report reveals that the one key challenge to successfully achieving D&I goals is, in fact, a lack of stakeholder buy-in. Low levels of interest from senior stakeholders or having no dedicated D&I senior lead emerged as the number one barrier (32%) that could prevent companies from achieving their goals. Another challenge, as cited by 31% of respondents, is the inability to attract and retain employees from underrepresented groups, and a proportionally low talent pool from under-represented groups in their area or industry. Just as D&I is for the people, we the people must ask ourselves: how can we step up in order to address the issues that stand in the way of a truly diverse and inclusive environment for all? Technology cannot solve these problems. At most, it can only empower us to find the solution. Putting people first It’s important to acknowledge that the impact of the pandemic on D&I was not entirely positive. Leaders who noticed a negative impact observed that under- represented groups were disproportionately affected by the pandemic, particularly employees with disabilities and working mothers, who lost their jobs or left the workplace at a higher rate than other groups. Of this group of leaders, 32% also indicated that other challenges have taken attention away from D&I. Global events like the pandemic and major shifts in how we work will likely always have unintended consequences on corporate cultures in ways that may put D&I initiatives at risk. But while the way we work may change, the need to put people first won’t. By actively prioritising D&I for the benefit of the people of a company, and with the help of innovative technology, we can create lasting D&I initiatives built for wherever and however people work. 89% of leaders surveyed agreed that technology would make achieving D&I goals easier. 46% Found that remote working and digitalisation made it easier to recruit employees from under- represented groups. 49% of respondents think that technology could provide data and analytics for accurate tracking and progress. Finance Monthly. Bus i ne s s & Economy 37