Here is some real example of some principles I have been talking about: I witnessed the power of data influencing diversity and inclusion and market penetration strategies as two companies leverage data to influence their results.
Clorox kicked off Diversity MBAs 2015 Big Data Tour in Oakland, California, by facilitating “big data” discussions – specifically, how to leverage information for creating solutions that creatively increase market share and strategies that innovatively engage talent.
Erby Foster Sr., director of diversity for Clorox, shared with the audience how Clorox leverages market trends provided by Nielsen to gain perspectives on the types of new products that go to market. Nothing new about that, right? But it is who they engage and how that is noteworthy. They go beyond the ERGs and have created a platform for the entire employee base to contribute to new ideas.
Those Clorox employees who dare to be creative are celebrated on a national scale. But, what’s even more impressive, the company has a solid method to identify internal emerging talent. The results: 3 percent sales growth, 35 percent products with sustainability and 87 percent employee engagement (see 2013 annual report). Clorox is not just talking the talk but walking the walk.
Then there is Nielsen, ready to support companies with robust data on how to leverage existing markets to take advantage of various dimensions of diversity. Once again, Angela Talton, senior vice president, diversity and inclusion, drove it home to the audience, making sure they understood that population changes, behavior and emotional consumer decisions have a direct impact on workforce diversity and availability of talent.
It’s important to note that the browning of America’s timeline has been moved up to 2042 from 2050. Pay attention to the significance of Hispanic, Asian, African American and LGBT buying power. Clorox does.
Using my expertise as founder of the Inclusive Leadership Index, I have been sharing the trends on the shrinking leadership of people of color in the management ranks. If you don’t want to ask me, ask somebody who knows.
Watch the pipeline, understand the marketplace implications, leverage the data – and take action.
(NOTE: For future tour dates of Big Data Forums, visit www.diversitymbamagazine.com.)