Launched last fall, the Diversity Value Index (DVI) uses an evidence-based framework to benchmark diversity and inclusion strategies that deliver value to organizations through innovation and continuous improvement.
Developed by researchers from the Human Capital Media Advisory Group, the research arm of Diversity Executive magazine, in partnership with the magazine’s editors, the DVI aims to create a statistically sound index that measures programs, policies and actions across several dimensions: organizational mission and values, strategy, leadership commitment, execution and measurement (Figure 1).
The resulting index highlights leading companies in each area and offers actionable outputs and common best practices among participating companies. Rather than serving as another awards program, the DVI instead offers an evidence-based tool that participating organizations can use to accurately measure and improve their work in the area of diversity and inclusion. The DVI also serves as an industry-wide benchmark for the function’s evolving practice.
Developed over the course of two years with the assistance of an advisory board of active diversity practitioners — including thought leaders such as diversity ROI expert Edward Hubbard and diversity management pioneer R. Roosevelt Thomas Jr. and executives from General Mills, CVS Caremark Corp., Heidrick & Struggles, Steelcase and Mercer, among others — the DVI focuses on benchmarking programs common to successful diversity and inclusion functions regardless of organizational size, industry or mission.
Participation in the DVI is voluntary and open to any organization interested in benchmarking its strategies, practices and programs. In subsequent issues throughout the year, we will spotlight leading organizations that participated in the 2013 DVI process in each of the five dimensions.
In this issue, we feature mission and values, presenting snapshots of DVI companies whose organizational missions exemplify a necessary starting point for value creation through diversity and inclusion.
Upcoming issues will highlight:
• Strategy and execution (May/June).
• Leadership commitment (July/August).
• Measurement (September/October).
For more information on the Diversity Value Index, visit here.
Sarah Kimmel, director of research and advisory services, Human Capital Media Group