Chicago, June 20, 2012 – Today Diversity Executive magazine launched a pioneering, evidence-based benchmarking program designed to measure, for the first time, the business value of a diverse workforce. The Diversity Value Index (DVI) applies advanced academic/practitioner research and robust statistical analysis to identify, qualify and quantify the correlation between diversity and inclusion practices and business performance.
“In boardrooms worldwide, the theoretical business case for workplace diversity is widely acknowledged and even integrated into corporate strategy,” said Norm Kamikow, president and editor in chief of Human Capital Media, which publishes Diversity Executive. “And there are a number of industry awards programs that seek to recognize and rank workplace diversity initiatives. Yet critical questions remain. What is the business value of a diverse workplace? Is there a causal link or actual correlation between diversity and business performance?
“The Diversity Value Index aims to assess the real impact of diversity on organizational transformation and business outcomes. It is not a ranking program or beauty contest. It is a rigorous, transparent benchmarking initiative designed to raise the bar and provide the kind of actionable intelligence organizations need to set strategy, evaluate investments in diversity and inclusion and garner support from stakeholders.”
Developed by senior diversity practitioners, the Diversity Value Index uses an evidence-based framework and model to benchmark across six critical diversity and inclusion strategies that deliver value through innovation and continuous improvement. Qualitative measures focus on value, while quantitative measures focus on costs and capacity. In addition to a Diversity Value Index number, participating organizations receive a proprietary report that illustrates how their organization’s diversity and inclusion practices compare to other companies and helps them determine if the enterprise is attaining business value from its efforts.
Diversity Executive is extending an invitation to organizations in the U.S. and globally to participate, at no cost, in the initial data-gathering phase of this seminal research simply by completing the DVI profile at www.diversity-executive.com/dvi. The deadline for completing the profile is Oct. 1, 2012. The resulting data and stories will be analyzed and used to create the first strong, meaningful benchmark examining the value of diversity and inclusion beyond compliance or representation.
“By taking part in this groundbreaking effort, organizations not only gain valuable strategic insights but they also have a unique opportunity to demonstrate thought leadership and make a historical contribution to the furtherance of diversity and inclusion in the workplace,” said Mike Prokopeak, vice president and editorial director of Human Capital Media. “As inaugural members of the Diversity Value Index, they will be recognized and publicized by Diversity Executive magazine and granted the DVI certification insignia — a significant distinction they can use in recruiting top talent, enhancing employee engagement, building customer loyalty and differentiating their organizations in the marketplace.”
Further information on the Diversity Value Index is available via a free white paper on the website that provides context for understanding current diversity ranking programs, offers an extensive background literature review and outlines the evidence-based quantitative and qualitative DVI framework. For additional information, contact Jerry Prochazka, director of research and advisory services for Human Capital Media, at jerryp@HCMmediagroup.com or 312.676.9900, ext. 227.
About Human Capital Media Group
The Human Capital Media Group (HCM) is a division of MediaTec Publishing Inc. It is a leading integrated media company serving the human capital management and workforce development industries. HCM publishes Chief Learning Officer, Diversity Executive and Talent Management magazines and operates the online industry resource HumanCapitalMedia.com. HCM leverages its award-winning editorial content with innovative integrated media products, including targeted e-newsletters, webinars, interactive websites, special print and online supplements, resource guides, industry research and conferences that bring together international audiences to network and discuss leading-edge strategy and best practices in the industry. HCM partners with recognized industry experts and provides thought-provoking feature articles, news, opinions and insights through its award-winning publications, events and e-media. Each HCM product gives readers the business intelligence and knowledge they need to succeed in new and changing markets.
For more information contact:
312-676-9900 ext. 220