Oando: Data management important for successful diversity, equity initiatives

Oando Plc says data management is important for successful diversity, equity and inclusion (DEI) initiatives.

According to a statement on Friday, Ayotola Jagun, chief compliance officer and company secretary, Oando, spoke during the 2024 edition of the Gastech conference, held in Houston, Texas, United States.

In a statement on Friday conveying Jagun’s address at the conference, she spoke on the role of data management in organisations, stressing the need for accurate and relevant data to make strategic decisions, especially in a rapidly changing world.

“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,” Jagun said.

“To avoid survey fatigue, information gathering can also be tied to the appraisal cycle. 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.”

On the role of employees in setting DEI targets, Jagun emphasised that it should not be solely the responsibility of the human resource (HR) department, adding that there is a need to feel the pulse of the organisation in terms of the culture, brand identity and overall vision.

‘TRANSPARENCY IN REPORTING IMPORTANT TO TRACK PROGRESS’

She also emphasised the need for transparency in reporting, advocating for regular reports to diversity councils or boards to track progress and communicate company goals.

“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 mechanism and reports published to the entire organisation to communicate company vision and targets,” 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.”

Jagun also emphasised the importance of psychological safety, saying it 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.

Also, Oando said organisations can create a culture of diversity, inclusivity and equity by utilising meaningful data, encouraging psychological safety and ensuring transparent reporting.

“By embracing data-driven decision-making, businesses can unlock a brighter future for all employees, stakeholders, and communities,” the company said.

Oando reaffirmed its commitment to advancing the mission and empowering leaders to harness the power of data for a more equitable future.