Diversity, Equity, and Inclusion (DEI) and Environmental, Social, and Governance (ESG) efforts continue to gain momentum as important influencers of success. Just as important as instituting a commitment to DEI and ESG, is a company’s ability to capture and assess these efforts as a way forward.
Recent Entromy research found that while 70% of respondents reported that their organization is actively working to create a more inclusive, diverse and equitable work environment, less than half of leaders believe their company’s initiatives have actually led to a more diverse workforce.
Learn how Frazier Healthcare Partners leveraged Entromy’s analytics and insight capabilities to expediate data gathering and tracking of their DEI and ESG efforts – thus enabling leadership to minimize process overhead and focus their efforts on the material conversations that foster a diverse, equitable, and sustainable work environment.
Capturing Frazier Healthcare Partners’ DEI & ESG activity
Foundational to Frazier Healthcare Partners is a set of core values that guide how they invest, advise and operate as a firm — including the empowerment and professional development of women and minorities.
“Our mission to advance the care of patients includes the goal of leading positive change in the areas of diversity, equity, and inclusion,” said Andy Caine, Partner, Human Capital & ESG at Frazier. “And because DEI is central to who we are and how we operate, we actually take it one step further to talk about ‘Advancement’. At Frazier, DEIA ensures that our intention to do what is right, is also measurable.”
With this commitment, the Frazier team invested 12 months to develop a thoughtful approach to DEI and ESG. They articulated a purposeful mission and defined meaningful DEI and ESG tracking metrics. Given the natural variability in the portfolio company sizes and age, they developed a pragmatic maturity scale to track progress versus a one-size-fits all model.
The final step in the process was streamlining the data capture, tracking, and output generation. By partnering with Entromy, the team at Frazier brought their vision to fruition. The two companies worked to leverage Entromy’s existing organizational insights platform to create an entirely new insights report focused on equity and sustainability in the workplace.
“While we’ve always had an organization-wide commitment to our DEI and ESG goals, we saw an opportunity to streamline how we consistently track and report out on these initiatives,” explained Katelyn LaTorra, Director of Human Capital and ESG at Frazier. “By increasing the sophistication of how we collect and analyze DEI and ESG data, we have increased confidence in how we navigate forward.”
The future of DEI & ESG for private equity companies
Factors surrounding Diversity, Equity & Inclusion and Environmental, Social & Governance can influence everything from value creation and raising capital to allocating funds. Companies that lack a formalized process to capture DEI and ESG insights risk falling behind their competitors from multiple facets, including losing talent, capital, and value creation.
After working with Frazier Healthcare Partners to develop DEI and ESG reporting, Entromy is proud to extend these new assessment capabilities for interested clients. Leaders and investors can now garner a data-driven, detailed breakdown of where DEI and ESG initiatives stand, helping advance discussions on what can be done to sustain and enhance these efforts.
Reach out to hello@entromy.com to learn more about Entromy’s DEI and ESG platform.
