New analysis from executive recruiting firm Russell Reynolds Associates found that more than half of the largest U.S. companies don’t have a designated diversity executive, and most diversity professionals report a lack of diversity goal prioritization. At the same time, only 35% of companies collect data needed to determine the efficacy of diversity initiatives.
A separate analysis found that companies facing recent public allegations of discrimination saw a 7% market value drop on average between 2017 and 2018, underscoring the importance of diversity goals for business.
Tina Shah Paikeday, global D&I consulting head for Russell Reynolds and study author, said: ”The investment of resources into the role have left a lot of chief diversity officers with positions that are completely under-resourced in order to be able to achieve the results that they’ve signed up for.”
Read more at Bloomberg.