Oando highlights role of data management in driving inclusion

Oando Plc has reiterated the need for firms to leverage meaningful data to make quality decisions regarding strategy and the direction organisations need to go.

The firm joined leading energy professionals and industry experts at the Gastech Conference. The conference, which has led global energy conversations for 52 years, held its 2024 edition in Houston, Texas, United States.

Moderated by Isoken Aderele, Group Legal Counsel, Region Americas, DNV, the Feature Programme: Diversity, Equity & Inclusion in Energy hosted a panel discussion, titled: “Creating Transparency Through Governance Measurement and Reporting,” which gathered leading figures in the energy industry to explore the crucial role of data measurement and reporting in driving Diversity, Equity, and Inclusion (DEI) initiatives.

Comprising VP Strategy, Traditional Energy, Woodside Energy, Jenny Solomon; President, Women in Energy Network (WEIN), Eyono Fatai-Williams; Managing Director, ESG Advisory Services, Alvarez & Marsal, Stephanie Weiler and Chief Compliance Officer and Company Secretary, Oando PLC, Ayotola Jagun, the panel emphasised the importance of leveraging data to facilitate action and drive meaningful change.

The consensus was that meaningful and actionable data is 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, 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 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.”

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 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.”