"These companies go way beyond lip service in helping women succeed," says Carol Evans, president of Working Mother Media and CEO of NAFE
New York, NY (PRWEB) February 07, 2012
The National Association for Female Executives (NAFE) today revealed in a newly released report selecting its annual “Top 50 Companies for Executive Women” that women hold nearly one in four positions at the Top Companies (23%) overseeing divisions with more than $1 billion in revenue. The new report, conducted by the Working Mother Research Institute, also finds that women hold 23% of all board of director seats at the Top Companies compared with 16% across the Fortune 500.
IBM has made the NAFE list for the past 14 years, building a strong female pipeline. The New York Times Company, Procter & Gamble and Prudential Financial celebrate their 12th appearance on this competitive list.
The NAFE Top Companies lead corporate America in attracting, retaining and advancing women. Some findings from this year’s research include:
- Women CEOs lead 10% of the NAFE Top Companies, compared with 3.6% at the Fortune 500
- Women hold 19% of revenue-generating profit/loss jobs—a pipeline to the CEO position
- 22% of executive officers at the NAFE Top Companies are women, compared to 14% at the Fortune 500
- All NAFE Top Companies offer management or leadership training to women
- CEOs at 92% of Top Companies review succession plans for gender equity
Carol Evans, president of Working Mother Media and CEO of NAFE, says, “The NAFE Top 50 Companies are major employers that are committed to hiring, retaining and promoting executive women. They go way beyond lip service in helping women succeed. Manager accountability is a key ingredient for success. Nearly half of our 50 winners reward managers financially when they help women advance and more than 3 out of 5 require all managers to receive advancement of women training. ”
Betty Spence, PhD, president of NAFE, reports that “the key concern of talent executives at major companies today is women’s advancement to the highest ranks. NAFE emphasizes the importance of ensuring that women enter the leadership pipeline early and then have the training, exposure, and sponsorship they need to succeed.” The report is published in the February/March issue of Working Mother magazine and on http://www.workingmother.com.
Here is the Top 10 List: Bank of America, Cisco, General Mills, IBM, Johnson & Johnson, KPMG, The New York Times Company, Procter & Gamble, Prudential Financial, State Farm Insurance. For the entire list, click here TOP50. NAFE is a division of Bonnier Corporation.
Methodology: The 2012 NAFE Top 50 Companies application includes more than 250 questions on topics including female representation, hiring, attrition and promotion rates; access and usage of key retention and advancement programs. The application draws particular attention to the number of women at the highest ranks and those with profit-and-loss responsibility. To be considered, companies must have a minimum of two women on their board.
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