National Association for Female Executives Top 50 Companies. Executive Summary 2010
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1 National Association for Female Executives Top 50 Companies Executive Summary 2010
2 CEO Representation Seven of the NAFE Top Companies have Women CEOs, compared to fifteen of the Fortune 500 Companies NAFE Top Companies Fortune 500 Companies Source: Catalyst, 2009 Catalyst Census Fortune 500 Women Executive Officers (2009)
3 Board of Directors Representation Nearly a quarter of the Board of Directors at the NAFE Top Companies are female, compared to 15 percent at Fortune 500 Companies. NAFE Top Companies Fortune 500 Companies 60 percent of the NAFE Top Companies report that three or more women serve on their board of directors versus less than 20 percent of Fortune 500 companies. Source: 2009 Catalyst Census Fortune 500 Women Board Directors (2009)
4 Corporate Executive Representation Nearly 30 percent of the Corporate Executives at the NAFE Top Companies are female, compared to 15 percent at Fortune 500 Companies. NAFE Top Companies Fortune 500 Companies Source: Catalyst, 2009 Catalyst Census Fortune 500 Women Executive Offers (2009); Executive Officers defined by Catalyst as the sum of all women directors or women Executive Officers in each rank divided by the sum of all board seats or Executive Officer positions in each rank.
5 Power & Earnings: Where the Women Are NAFE Top Companies Women Direct Reports to CEO NAFE Top Companies Top 10% Earners
6 P&L Responsibilities 26 percent of the Corporate Executives with P&L responsibilities at the NAFE Top Companies are female. NAFE Top Companies Source: Catalyst, 2009
7 Advancement Programs While every NAFE Top Company offers management / leadership training and support / networking groups to female employees, the advancement program with the highest female usage is career counseling.
8 Succession Planning Nearly all NAFE Top Companies offer formal executive succession planning. At these companies, women represent 38% of all participants in the process. % of NAFE Top Companies that offer formal executive succession planning % of female participants
9 Manager Accountability NAFE Top 50 Companies (% of companies that offer) NAFE Top 10 Companies (% of companies that offer) NAFE Top 50 Companies with Female CEOs (% of companies that offer) Managers required to receive training on how to hire and advance women 82% 90% 100% Formal compensation policies reward managers who help women advance 70% 90% 71% Managers held accountable meeting women s advancement goals 78% 90% 86% Mangers held accountable for improving the number of women in senior management 48% 60% 57% Conduct company-wide surveys to detect gender inequalities in pay 86% 100% 100% Management reviews compensation data specifically for gender equity 92% 100% 100%
10 Impact of Female Representation NAFE Top Companies data finds that companies with the highest female representation overall maintain higher levels of women at all job levels. *Represents ten companies with overall female representation over 60% **Represents ten companies with overall female representation 35% and under
11 For-Profit vs. Non-Profit Top Companies: Leadership At nearly every job level, NAFE s winning non-profits outpace the top for-profit companies in terms of women s representation.
12 For-Profit vs. Non-Profit Top Companies: Advancement NAFE Top For-Profit Companies report higher usage rates among women in career counseling, support/networking groups and mentoring programs, while NAFE Top Non- Profits see higher usage rates for women in management/leadership training.
13 For-Profit vs. Non-Profit Top Companies: Accountability NAFE Top 50 Companies (% of companies that offer) NAFE Top 10 Non-Profit Companies (% of companies that offer) Managers required to receive training on how to hire and advance women 82% 90% Formal compensation policies reward managers who help women advance 70% 70% Managers held accountable meeting women s advancement goals 78% 90% Mangers held accountable for improving the number of women in senior management 48% 70% Conduct company-wide surveys to detect gender inequalities in pay 86% 100% Management reviews compensation data specifically for gender equity 92% 100%
14 2010 NAFE Top Companies Abbott Aetna Allstate Insurance Company American Electric Power American Express Company AstraZeneca AT&T Avon Products, Inc. Bank of America Bristol-Myers Squibb Chubb & Son, a division of Federal Insurance Company Cisco Colgate-Palmolive Company Diageo North America DuPont Eli Lilly and Company Fleishman-Hillard, Inc. General Mills Grant Thornton LLP Hewitt Associates LLC HSBC - North America IBM Corporation Intel Corporation Johnson & Johnson JPMorgan Chase Kellogg Company Kraft Foods, Inc. Macy's, Inc. Marriott International, Inc. McKinsey & Company Merck & Co., Inc. MetLife, Inc. New York Life Insurance Company Northern Trust Corporation Office Depot PepsiCo Pfizer Inc Principal Financial Group Prudential Financial, Inc. State Farm Texas Instruments Incorporated The Dow Chemical Company The McGraw-Hill Companies The New York Times Company The PNC Financial Services Group, Inc. The Procter & Gamble Company Verizon Communications Inc Wal-Mart Stores, Inc. WellPoint, Inc Xerox Corporation
15 2010 NAFE Top Non-Profit Companies Blue Cross and Blue Shield of North Carolina Bon Secours Richmond Health System March of Dimes Foundation MidMichigan Health Northwestern Memorial HealthCare Pitt County Memorial Hospital TriHealth, A Partnership of Bethesda and Good Samaritan VCU Health System WellStar Health System Yale-New Haven Hospital
16 Research Methodology Each organization completed a detailed application covering both internal and external programs and activities that benefit women. The 2010 application included sections on the following: Company Profile Workforce Profile Women s Issues & Advancement Completed applications for the 2010 NAFE initiative were collected online by an independent survey research firm, from December 17, 2008 to March 6, 2009 and also from August 7 th to October 2 nd, Winning companies were selected from a pool of self-selected applicant companies and ranked on the data they provided in their application. Statistics reported herein are aggregate based on the data from the 50 winning for-profit companies. Ten non-profit companies were also chosen as winners in a separate list. Winners were selected based on these applications and are announced in the March 2010 issue of NAFE Magazine.
17 Registration is now open for 2011 NAFE Top Companies! The National Association of Female Executives invites all organizations to register for the Top 50 Companies at if their company meets the following criteria: Must be a publicly or privately held, for-profit company. Non-for-profit companies may apply, but are celebrated in a separate list. Must have a minimum of TWO (2) women on the board of directors Must have a minimum of 500 employees
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