Recent innovations in human resource management and organizational development provide us with insights into how to make a modern case for diversity and inclusion funding. The main idea is to strategically promote diversity as an asset. Identifying cultural diversity as human capital and linking it directly to productivity that positively affect the bottom line fits the organization’s resource allocation models. Professionals can specify funding needs more clearly and clarify the return on investment.
The following list of secrets for linking diversity to human capital will help you develop your strategy.
1. Consider how to link the need for diversity training to the organization’s mission
2. Consider how to link the need for diversity training to the organization’s core values.
3. Link what people know and can do to the organization’s performance.
4. Consider how the intangible human capital assets generate tangible benefits.
5. If your office is not separate from human resources, try form an alliance with that office. Teaming with them to come up with a strategy for making the link will serve their budgeting needs as well.
6. Work with HR to identify the key diversity drivers.
7. Argue for a budget to link selection and promotion decisions to competencies needed for each job category.
8. Link diversity competence to compensation and performance policies.
9. Understand your organization’s financial picture thoroughly to identify how your budget request fits within the overall scheme.
10. Measure the results of your budgeted activities to maximize your effectiveness in obtaining reasonable funding for diversity and inclusion.
From the Managing Diversity e-Coach Book (2004), Diversity Training University International, pp. 18-19. DTUI.com Publications Division: San Francisco, CA. Go to http://www.dtui.com/ebookadvall.html to learn more.
