Gastech: Oando Discusses How Data Management Drives Diversity, Inclusion in Energy Sector

Emmanuel Addeh in Abuja

Oando Plc has joined leading energy professionals and industry experts at the Gastech Conference to discuss the role of data management in driving issues surrounding Diversity, Equity and Inclusion (DEI) in the energy.

 The conference, which has led global energy conversations for 52 years, held its 2024 edition in Houston, Texas, United States.

A statement from the company said that as thought leaders, select Oando executives participated in the Gastech leadership roundtable and the feature programme: Diversity, Equity & Inclusion in Energy, to share their view and insights.

Moderated by the Group Legal Counsel, Region Americas, DNV, Isoken Aderele, the feature programme: Diversity, Equity & Inclusion in Energy hosted a panel discussion titled: “Creating Transparency Through Governance Measurement and Reporting”.

The event gathered leading figures in the energy industry to explore the crucial role of data measurement and reporting in driving DEI initiatives.

The panel comprised Jenny Solomon, Vice President, Strategy Traditional Energy, Woodside Energy; Eyono Fatai-Williams, President, Women in Energy Network (WEIN) and Stephanie Weiler, Managing Director, ESG Advisory Services, Alvarez & Marsal.

Also in attendance was Ayotola Jagun, Chief Compliance Officer and Company Secretary, Oando Plc.

The panel emphasised the importance of leveraging data to facilitate action and drive meaningful change, with a  consensus that meaningful and actionable data was essential for informed decision-making and driving positive change.

The panel highlighted key strategies for effective data collection and reporting, including utilising employee surveys and 360-degree feedback to gauge employee experience and sentiment.

It also discussed implementing AI-powered tools to analyse and anonymise feedback, tying DEI targets to performance appraisals and organisational culture, and ensuring psychological safety and trust through transparent reporting and action on feedback.

Speaking on the role of data management and measurement in analysing the impact of DEI initiatives within organisations, Jagun shared that it was pertinent to have meaningful data from which one can draw information.

“We need 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 added.

Highlighting the challenges of data collection in terms of methods and tools, Jagun suggested that to avoid survey fatigue, information gathering can also be tied to the appraisal cycle.

360-degree feedback, Jagun argued, 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.

Discussing the role of employees in setting DEI targets, Jagun emphasised: “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”.

Addressing the importance of transparent reporting, Jagun stated: “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”.

Speaking on the need for forward-looking data, Jagun noted: “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, Jagun emphasised that psychological safety was key to creating a forum where tough questions can be asked and answered with no subject being off the table.

The expert insights highlighted the critical role of data management in driving effective diversity, equity, and inclusion initiatives, stating that organisations can create a culture of inclusivity and equity by leveraging meaningful data, fostering psychological safety, and promoting transparent reporting.

By embracing data-driven decision-making, businesses, Jagun stressed, can unlock a brighter future for all employees, stakeholders, and communities.