At the same time, there is little guidance on how much founders should spend on D&I overall. At the scaleup stage, the amounts spent will vastly differ.
A Diversity & Inclusion budget can be spent across a number of areas, including employee resource groups (ERGs), external partnerships, recruitment and employer branding, learning and development (L&D), and programming.
There is no set formula or algorithm to determine your Diversity & Inclusion budget. While employee surveys and simple forms of diversity data collection can be carried out relatively inexpensively, the costs of defining a strong D&I investment strategy – and then implementing it – will be influenced by factors such as company size, level of maturity, and existing company culture.
There are a number of consultancies (such as The Unmistakables) that can provide additional support as you begin defining your company’s D&I budget.
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