It is widely known that a diverse workforce is a staple of good business practice. Not only are diversity quotas a key feature of the modern workplace, they are a significant business stimulant. According to McKinsey et al., organisations in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns higher than their respective national industry average. Indeed, on every senior-executive team, every 10% increase in racial and ethnic diversity sees a 0.8% rise in earnings before interest and taxes (EBIT). Choosing to build diverse teams is also proven to be a boost to better decision-making and problem-solving.
It is therefore more important than ever to create an environment of inclusivity and diversity in your organisation. For this reason, Microsoft 365 is committed to building diversity in the workplace. Multiple inclusive technologies, such as live captions and subtitles in Teams Meetings and PowerPoint, facilitate and promote the building of diverse teams.
At QUANTIQ, we know it can be difficult to ensure your organisation is both diverse and receiving the support to encourage this diversity. We are the leading Microsoft Dynamics partners in the UK, and with the Microsoft Dynamics 365 suite, building and managing diverse teams has never been easier. As the most powerful data management solution available today, Dynamics 365 solutions let you generate and analyse high-quality data on the diversity and progress of your organisation.
Dynamics 365 for Human Resources translates people data into accurate employee information to provide you with an overview of the demographics of your organisation. Eliminating uncertainty, it provides quantitative data, allowing you to build a measurable plan to improve workplace diversity.
How does Dynamics 365 help you build diverse teams?
It is crucial to analyse what a diverse team means to your organisation. These include factors like race, age and gender as well as other localised diversity issues specific to your organisation. This will help you to gather the necessary data and analyse the progress your team is making towards key diversity goals. The data available lets you examine specific individuals or entire departments, with local analysis or a ‘helicopter view’. The insight produced by this analysis permits you to create strategies or reward schemes which focus on the precise results of your workplace.
Power BI is a cloud-based reporting tool, which gives an analytical overview of your most vital business data. Power BI can access reports from hundreds of data sources, allowing you to simplify your data prep and drive ad hoc analysis. A live dashboard displays your business health in real time, allowing you to create interactive reports which reflect your most critical data. When used in conjunction with Dynamics 365 for Human Resources, Power BI reflects your people data in a quantitative and measurable way.
Why use Dynamics 365 to manage diversity data?
The data produced by Dynamics 365 returns the control to you. The data gathering and analysis will allow you to build a bespoke plan to improve your workplace diversity. It can also show where diversity, or a lack of diversity, is already having a real impact on your organisation.
Using Dynamics 365 for Human Resources to drive your routine procedures, like HR tasks and performance reviews, creates a collaborative experience of operational excellence. The detailed profiles available with Dynamics 365 for Human Resources give an overview of each individual’s skills, experience and competencies, to help support the pursuit of diversity.
Let Dynamics 365 manage your diversity
Building a diverse team is key to succeeding in a modern commercial business environment. To learn more about how Microsoft Dynamics 365 could help your business attain its diversity goals easily and efficiently, contact QUANTIQ today.