The Fastest Growing C-Suite Title: Chief Diversity Officer

The fastest growing C-suite title in 2020 is “chief diversity officer.”

According to a LinkedIn analysis of nearly 100,000 C-suite hires in the U.S. from January to October, the appointments of chief diversity officers grew 84% as a proportion of the total of senior executives hired this year.

Likewise, credit unions and trade groups also have been hiring chief diversity officers.

For example, the $3.8 billion Teachers Credit Union in South Bend, Ind. hired Jacquelyn Burns Rucker as its first director of diversity, equity and inclusion, and Samira Salem became CUNA’s first-ever vice president of diversity, equity and inclusion.

What’s more, consulting firm Humanidei + O’Rourke in September announced the formation of a Credit Union DEI Practitioner Network, which it said is a supportive and resourceful peer group for credit union leaders who are at the helm of DEI strategy in their organizations. Executives from approximately 20 credit unions representing more than $60 billion in assets have been participating in this new network.

The rise of chief diversity officers in credit unions and across all companies follows a national awakening of racial disparities in May when George Floyd was killed while in Minneapolis police custody.

In absolute numbers, the hiring of chief diversity officers has grown about 51% this year, but they’ve expanded at an even faster rate — 84% — as a proportion of total C-suite hires in 2020, relative to 2019’s share, according to LinkedIn’s analysis. While LinkedIn noted that is the fastest expansion of any C-suite job this year, the title itself is still relatively uncommon in corporate America, accounting for less than half of one percent of all C-suite hires.

Chief Growth Officer was No. 2, accounting for 46% growth as a proportion of total C-suite hires this year. According to LinkedIn, CGO is a “more fluid title that often combines oversight of marketing, strategy and other functions.”

Finance-related executive titles such as chief underwriting officer posted a 43% growth, ranking third, as a proportion of total C suite hires, while ranking fifth, chief investment officer, accounted for 24% growth as a proportion of total C-suite executives hired this year.

Taking the No. 4 spot was chief revenue officer that recorded a 29% growth in the proportion of total C suite hires, according to LinkedIn.

Ranking 6 through 10 were chief legal officer (23%), chief commercial officer (21%), chief talent officer (19%), chief design officer (19%) and chief customer officer (15%).

Ranking 11 to 16 were chief procurement officer (15%), chief people officer (14%), chief sales officer (13%), chief sales marketing officer (12%), chief science officer (12%) and chief program officer (11%).

Though overall C-suite hiring has ebbed nearly 18% compared to 2019’s pace, these 16 titles have bucked the trend, according to LinkedIn’s analysis.

“Nearly all these high momentum titles are in areas so indispensable that companies are adding new capacities to the C-suite, despite hard times,” LinkedIn said.