As a minority-owned executive search firm, with a focus on leading an inclusive search process, you can imagine how many current and potential clients we have spoken with in recent weeks about the most effective way to position the Chief Diversity Officer for success.
Since the wave of protests in response to the killing of George Floyd erupted across the country and world, the demand for Chief Diversity Officers has dramatically increased. Even prior to that, fifty percent of Fortune 500 companies had a CDO, with 63% of these positions having been added to corporations within the last three years. Organizations’ public reactions (in all their variations) to these recent events, have put the Diversity-Equity-Inclusion function into the spotlight and made the Chief Diversity Officer, or its equivalent, a hot commodity – but organizations would be well-served to do some self-reflection before jumping to recruit this leadership role because no two organizations are the same and therefore the profile of the leader/needs of the function differ significantly, from one organization to the next.
Why are companies rushing to add Chief Diversity Officers to their executive teams? Whether you already have a CDO or are adding the role to your leadership ranks, what exactly are the Chief Diversity Officer’s responsibilities? How will success be measured? Will adding a Chief Diversity Officer to your organization’s executive leadership team help to heal racial division and inequality within your company?
In our 17-year history, the team at Bridge Partners has successfully completed many diversity and inclusion leadership searches. Here are some things we have learned about the Chief Diversity Officer position and some tips keep in mind as you evaluate how to optimize the role in your organization:
- The Chief Diversity Officer should be the organization’s executive level diversity, equity and inclusion strategist. As the strategist for the entire organization, the position, if added, should ideally report to the Chief Executive Officer, where they will have the broadest influence.
- Diversity, equity, and inclusion initiatives need support and commitment from the top and all the way through the organization. The CDO should be not the only champion for diversity within your organization. Everyone from the CEO to entry-level staff must be committed to DEI and it should be established as an organizational core value.
- Realistic expectations, goals and metrics must be set for the Chief Diversity Officer to be successful. The leadership team must know what they want to accomplish by adding a CDO and then establish ways to measure the results.
- A dedicated budget and appropriate resources must be invested in the success of the Chief Diversity Officer. This work cannot be accomplished by one person. A team must be put in place to develop and implement robust, impactful training programs.
- A CDO must have fortitude and courage. Talking about race, gender and sexual orientation topics are tough in any environment but particularly at work. Everyone on the team must be willing to recognize their own biases and be willing and prepared to be made uncomfortable.
- Diversity, equity and inclusion is not just about hiring diverse talent. Hiring diverse talent is the first step. Companies need to examine and evaluate how DEI is woven into the fabric of their talent development, training and retention practices as well.
- The Chief Diversity Officer position is not an easy one. Turnover is high among CDOs and the average stay is three years. Some would say this is the right pace as an organization moves from build to sustain and leadership skills differ. A less charitable voice might say that the CDO becomes a scapegoat when unrealistic goals are not met fast enough.
- Changing attitudes toward diversity, equity and inclusion take time. There are no quick and easy solutions.
If your organization is looking to embrace and embed diversity in the leadership ranks and build a more inclusive culture, hiring a Chief Diversity Officer might be one option to consider – but do it purposefully.
