With diversity of talent comes diversity of thought. One of the benefits this brings to companies is a greater capacity for innovation. (Photo: Shutterstock)
There are some titles that are well known in the business world. CEO, for example, needs no explanation. COO and CFO are also well known. But what about CDEIO? For those who are not familiar with that one, it stands for Chief Diversity, Equity, and Inclusion Officer, a position that is becoming common in the C-suite as more companies realize the potential that DEI has to impact their bottom line.
DEI entered into the corporate conversation in the 1960s, as legislation began to appear in the US aimed at discouraging discrimination in the workplace. Initially, DEI efforts were seen as something that was done to comply with regulations rather than compete with rivals. After nearly 60 years of development, DEI is finally coming to be understood as an initiative that helps businesses to have a competitive advantage.
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