Key metrics every ERG Leader should track
Organizations have become cognizant of the positive impact Employee Resource Groups (ERGs) have on work culture and employee belongingness. However, during periodic business reviews, ERGs are asked about their contribution to business performance. Leadership teams want to see the tangible results of the efforts put in by ERG Leads and budgets that were approved during the course of the year.
Tracking metrics related to ERG performance and its impact on business can answer many of the questions posed by senior leaders. Metrics also help in identifying areas of improvement for ERGs and ensuring their overall effectiveness. Here are some key metrics that ERG leaders should track to demonstrate how their ERGs are thriving.
ERG membership numbers
The number of members in an ERG is the most direct measure of ERG success. The number of members as a percentage of the entire employee population is a key performance indicator that should be tracked year-on-year. Growing ERG membership numbers indicate that the employees find value in the ERG’s offering.
Active members
Active ERG members are those who regularly engage with ERG activities and communication. Active members provide a true picture of ERG engagement. Active members can be tracked by noting the login activity of members on ERG management platforms and participation in ERG activities.
Event attendance
Tracking event attendance numbers is a great way to gauge if your ERG activities are engaging. The number of event attendees as a percentage of total ERG members will help understand the overall engagement level of your ERG. If the attendance numbers are stagnant or falling, it is an indicator that members do not enjoy the events that have been organized. Conducting anonymous post-event surveys can help understand what is not working.
Newsletter open rates
Newsletters help spread information about ERG activities and shed light on critical issues concerning the ERG’s core purpose. Metrics such as newsletter open rates tell us how invested ERG members are in knowing more about the ERG. Low open rates would signal the need for new modes of communication to be explored and more interesting and engaging content to be created.
Location spread within ERGs
ERGs in organizations with multiple office locations have local ‘Chapters’. A great indicator of an ERG doing well is when members advocate for more Chapters across geographies so that they can organize events locally. This number of growing chapters within ERGs is a sign that the ERG is connecting well with all its members.
New ERGs introduced
The total number of ERGs in an organization is an indicator of how much the employees value and cherish what ERGs bring to the table. Organizations usually have one or two ERGs when they begin their ERG journey. As ERG programs mature and advance, this number grows as underrepresented groups come together. Tracking the year-on-year addition of new ERGs will capture the evolution of ERGs at your organization.
Employee Retention
Engaged employees who feel safe and seen at the workplace are less likely to leave their jobs. By analyzing the turnover data among ERG members vs non-members, a case can be created demonstrating the impact ERGs have on keeping employees feeling fulfilled at their workplace.
Employee Satisfaction
Employee Satisfaction Surveys give an idea of how happy employees feel about their jobs and workplace environment. When the survey results are segregated into two groups - one of employees who are part of at least one ERG and the other of employees who are not members of any ERG - it will show the impact ERGs have on employee satisfaction. Both employee retention and employee satisfaction have direct business impact as they save the company the cost of replacing employees who leave.
Diversity Ratio
Diversity ratio is the count of minority groups of employees found within the total employee population. Tracking this number year-on-year will help visualize the movement of the employee base from a homogenous group to a more diverse heterogeneous group. ERGs that work to remove hiring bias for underrepresented groups will see the impact of their efforts through these numbers. Ideally, the variety of minority groups itself should increase if diversity and inclusion initiatives are done right.
It is important to note that these metrics may not have an industry standard as they are heavily dependent on the ‘start state’ of the organization’s employee population and its unique diversity goals.
Data points and key metrics, like the ones discussed above, help in making a strong case for ERGs especially from a business perspective. Data collection and reporting should be a priority for all ERG leaders. ERG management technology solutions such as Teleskope Affinities simplify ERG metrics tracking with an integrated analytics module.