A Profile of Diversity Officers
Diversity Best Practices, a membership organization that provides benchmarking and other research, spent six months studying the role of some 170 diversity officers at Fortune 500 companies.
Here are some of the findings from its Diversity Officer Special Report:
1. Compensation of diversity officers:
Average salary of $225,000 and average bonus incentive of 10 percent.
23.3 percent make more than $300,000 with a bonus in the range of $100,000;
46.4 percent make $200,000 to $300,000, with a bonus in the $75,0000 range;
30.3 percent make $100,000 to $200,000, with a bonus in the $50,000 range.
2. Average budget: $2.8 million
3. Most common titles:
Vice President--64.7 percent
Chief Diversity Officer--23.5 percent
Senior Vice President--8.8 percent
Many chief diversity officers are also Vice presidents or senior vice presidents.
4. Average staff size: 8.2 employees; 58 percent have 4 to 20 employees while nearly 30 percent have more than 20.
5. Average tenure: 10 years with the company, four years in the position.
6. Board reporting: 75 percent of diversity officers report to corporate boards on a regular basis.
7. Measurement: 92 percent of CEOs review statistics on diversity results and performance.
8. Suppliers: 80 percent of diversity officers have supplier diversity programs setting policies and goals for purchasing.