Help Wanted: Diversity Officer Hiring Is Booming in the U.S.

Moving from $100k to $500k is a plausible financial action to back up your increased commitment to diversity, but what do you do if that type of budget is unavailable? What’s more, a dramatic increase in budget doesn’t necessarily align with the multi-year, even multi-decade process of DEI evolution.

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Takeaways:
– S&P 500 index showed peak of 12 monthly diversity chief hires – 3x rate of previous 16 months
– 60+ firms appointed 1st ever diversity leader since last May
– Still ,only 53% of S&P 500 firms have such a position (up from 47% in 2018)
– Avg tenure for diversity leaders is 3.2 years compared with CEO of 5.5

ideascape view: What stands out is the discussion of budget expansion for DEI. Moving from $100k to $500k is a plausible financial action to back up your increased commitment to diversity, but what do you do if that type of budget is unavailable? What’s more, a dramatic increase in budget doesn’t necessarily align with the multi-year, even multi-decade process of DEI evolution.

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Boards Need Real Diversity, Not Tokenism

“Too often, we limit our understanding of diversity to identity-based differences. When we do this, we overlook diversity’s true force: the unique and varied expertise and experiences that, when integrated, drive problem-solving, improve decision-making, and expand our creative potential.

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