Oando Plc, an indigenous energy firm, has highlighted the critical role of data management in driving Diversity, Equity, and Inclusion (DEI) initiatives in the energy sector.
The company which is listed on the Nigerian Stock Exchange and the Johannesburg Stock Exchange, outlined these roles at the 2024 edition of the Gastech Conference in Houston, Texas, US. The conference has led global energy conversations for 52 years.
Read also: Nigeria’s data deficit: A major hurdle for effective social safety nets
The feature programme: Diversity, Equity & Inclusion in Energy hosted a panel discussion titled “Creating transparency through governance measurement and reporting” which gathered leading figures in the energy industry to explore the crucial role of data measurement and reporting in driving DEI initiatives.
Speaking on the role of data management and measurement in analysing the impact of DEI initiatives within organisations, Ayotola Jagun, company secretary, Oando Plc, said:
“It is pertinent to have meaningful data from which you can draw information.
“The kind of data that gives you a preponderance of information to make quality decisions regarding strategy and the direction the organisation needs to go, particularly in a world that is fast-paced and with a lot of uncertainty.
“It is also important to be able to justify these decisions with credible information, especially to stakeholders,” she added.
Diversity, equity, and inclusion are organisational frameworks that seek to promote the fair treatment and full participation of all people, particularly groups who have historically been underrepresented or subject to discrimination based on identity or disability.
Highlighting the challenges of data collection in terms of methods and tools, Jagun said information gathering could also be tied to the appraisal cycle to avoid survey fatigue.
“360-degree feedback could be a way of getting feedback from employees regarding how the company is performing in relation to set KPIs for purposes around diversity and inclusion.”
While discussing the role of employees in setting DEI targets, she said that setting targets can’t be the sole responsibility of the HR department.
“For instance, there is a need to feel the pulse of the organisation in terms of the culture, brand identity and overall vision.”
Read also: Without data, Nigeria’s safety nets leave the poor behind
“There has to be some output documents, whether that is going to be DEI reports, reports periodically given to a diversity council or a committee of the board that’s responsible for overseeing this. There must be regular reporting mechanisms and reports published to the entire organisation to communicate company vision and targets.”
Speaking on the need for forward-looking data, Jagun said, “Information shouldn’t just measure what has happened but must also be forward-looking.
“There must be an understanding that there is a continuum of goals that have been set. While we may not hit the mark every time, we understand why we have not and what we need to do to meet those targets.”
Highlighting the importance of psychological safety, she emphasised, “Psychological safety is key to creating a forum where tough questions can be asked and answered or attempted to be answered, with no subject being off the table”.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
