TRANSEARCH Releases Report Examining Diversity in C-Suite
TRANSEARCH International recently conducted research on newly appointed executive officers (“CXOs”) and their diversity, or lack thereof. Researchers observed more than 3,000 hiring and promotion C-suite decisions from 2015, across ten industry groups and organizations of varying size. Among the various dimensions examined, TRANSEARCH investigated which newly appointed CXOs were diverse candidates.
“The spirit of this research and its report is to add new perspective to an important conversation that’s already well underway in boardrooms and workplaces throughout America,” says Mike Morrow, Managing Director with TRANSEARCH. “We hope the research contributes to a stronger dialogue around building well-balanced teams and successful enterprises.”
Key findings in the TRANSEARCH report include:
- Across executive roles in all industries, five times more men than women were appointed to new positions.
- Across all executive positions, the CEO and CFO roles exhibited the lowest ratio of diverse appointments.
- Across all executive positions, the CFO role exhibited the lowest ratio of newly appointed executives who were racially or ethnically diverse.
“After Silicon Valley released data about its diversity employment, we wondered about the diversity mix of executives across corporate America,” says Steve Tennessen, Director with TRANSEARCH. “We also wanted to examine various C-suite positions in a way we had not seen before. We hope this report motivates organizations to look through a different lens at their track record of appointing diverse executives, and how change may influence their business.”
“An approach to diversity that fits one organization may not fit another,” says Mr. Morrow. “Many organizations have sought to increase their mix of diversity employment by implementing mentorship programs – with sponsors in the C-suite – that recruit, develop and retain minority employees. Others have cultivated formal alliances with networking associations, professional advocacy groups, and related nonprofits.”
To view TRANSEARCH’s CXO diversity report or learn more about the organization, visit www.transearchusa.com.