Why companies are souring on DEI
Story by Madeline Fry Schultz • Yesterday 2:44 PM
The chief diversity officer has lost its luster. Once the hot new role for companies looking to cash in on progressive calls for surface-level heterogeneity, the role of CDO is now difficult to find and nearly impossible to keep.
Since last year, thousands of diversity, equity, and inclusion hires have been laid off, with even companies such as Netflix and Disney letting their DEI executives go.
Whether because of the economy or the sudden realization that the huge explosion in DEI hires following the Black Lives Matter protests of 2020 didn’t accomplish its intended goals, this development can only be good news.
The economy is certainly part of it (thanks, President Joe Biden?). Cash-strapped companies that don’t lay off their diversity officers entirely have expanded their roles to include real work: Jason Hanold, chief executive of Hanold Associates Executive Search, “which works with Fortune 100 companies to recruit HR and DEI executives,” told the Wall Street Journal that “60% of diversity roles he is currently filling combine the title with another position, such as chief human resources officer, up from about 10% five years ago.”
https://www.msn.com/en-us/money/careersandeducation/why-companies-are-souring-on-dei/ar-AA1eBvDL?ocid=msedgntp&cvid=a309dcd9d0564c8cae39fe6cdbc06134&ei=52
