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The 2008 DiversityInc Top 10 Companies for Executive Women
By the Editors of DiversityInc - May 12, 2008
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Almost 40 percent of high-performing women leave the workplace, most because of personal obligations or that proverbial glass ceiling, according to the Center for Work/Life Policy. How can you stop the brain drain of talented women leaving corporate America? Start with The DiversityInc Top 10 Companies for Executive Women.

 

 What sets these companies apart? Consider these statistics:

 

  • Twenty-two percent of their boards of directors were women, compared with a national average of 15 percent, according to Catalyst. Of those women board members, 27 percent were Black, Latina, Asian or Native American, compared with a national average of 3 percent
  • More than 53 percent of their managers were women, compared with a national average of 36 percent, according to the EEOC. Of the women in management, 33 percent were non-white, compared with a national average of 17 percent
  • Thirty-two percent of their most senior managers (CEOs and direct reports) were women, compared with a Top 50 average of 24 percent
  • Thirty-eight percent of their top 10 percent highest-paid employees were women, compared with a Top 50 average of 32 percent
  • All of these top 10 offer job sharing, telecommuting and lactation programs; 90 percent offer adoption assistance, 70 percent offer alternative career tracks, and 50 percent offer onsite childcare

 

Here's the list and a key factor why each company was named:

 

No. 1: Johnson & Johnson, No. 8 on The 2008 DiversityInc Top 50 Companies for Diversity® list. Also No. 1 on The DiversityInc Top 10 Companies for Asian Americans and on The DiversityInc Top 10 Companies for LGBT Employees.

The Women's Leadership Initiative is more than 13 years old, with more than 100 chapters outside of the United States. Last year, the company held three women-of-color/multicultural leadership programs. The commitment to developing women leaders is clear. Managers were 45 percent women and the most senior managers, those reporting directly to the CEO, were 39 percent women. In addition, the board of directors was 25 percent women.

 

No. 2: American Express, No. 10 on the Top 50. Also No. 6 on The DiversityInc Top 10 Companies for Recruitment & Retention and No. 3 on The DiversityInc Top 10 Companies for Latinos.

The company's U.S. work force was 67 percent women, and 37 percent of those women were non-white, including 17 percent Black, 12 percent Latina and 7 percent Asian American. Women were 49 percent of managers at American Express.

 

No. 3: Wells Fargo & Co., No. 26 on the Top 50. Also No. 9 on The Top 10 Companies for Recruitment & Retention and No. 4 on The Top 10 Companies for Latinos.

 

Women were 52 percent of managers and received 54 percent of management promotions at this bank. The company has extremely strong work/life benefits, including company-subsidized backup emergency childcare, free access to a 24-hour service that helps employees find childcare, eldercare and other services, and voluntary-leave sabbaticals.

 

No. 4: Harris Bank

 

Twenty-nine percent of the bank's board of directors were women. Women were 64 percent of the work force, and 36 percent of those women were Black, Latina, Asian or Native American. Women were 48 percent of the managers but received 52 percent of the management promotions.

 

No. 5: Kaiser Permanente, No. 43 on the Top 50. Also No. 8 on The DiversityInc Top 10 Companies for African Americans, No. 1 on The Top 10 Companies for Latinos and on The DiversityInc Top 10 Companies for People With Disabilities.

 

The board of directors was 36 percent women, and of those women, 20 percent were Black, 20 percent Latina and 20 percent Asian. Women were 76 percent of managers, and of those women, half were non-white. Women also were 70 percent of the top 10 percent highest-paid employees.

 

No. 6: The Coca-Cola Co., No. 2 on the Top 50. Also No. 8 on The Top 10 Companies for Recruitment & Retention.

Women were 48 percent of managers but received 56 percent of promotions. The company has robust work/life programs, including Working Moms Mentoring Circles, in which working mothers meet to discuss topics ranging from professional development to childcare. The circles generally were set up by the age of the children. In each circle, a trained mentor or co-mentor leads the group.

 

No. 7: Starwood Hotels & Resorts Worldwide, No. 19 on the Top 50. Also on The Top 10 Companies for People With Disabilities.

 

Women were 46 percent of U.S. managers, and of those women, 34 percent were non-white, including 9 percent Black, 11 percent Asian, 11 percent Latina and 1 percent Native American. Women received 52 percent of management promotions.

 

No. 8: JPMorgan Chase, No. 13 on the Top 50. Also No. 1 on The Top 10 Companies for Recruitment & Retention.

Women were 48 percent of managers and 27 percent of the most senior managers (direct reports to the CEO). The bank has strong employee-resource groups, including one group for women and one for women of color.

 

No. 9: Wachovia, No. 14 on the Top 50. Also No. 4 on The Top 10 Companies for Recruitment & Retention, No. 4 on The Top 10 Companies for African Americans and on The Top 10 Companies for LGBT Employees.

 

Women were 47 percent of managers at this bank, which has strong work/life benefits, including a Mom Corps, on- and off-ramping, a lactation program and job sharing.

 

No. 10: Health Care Service Corp., No. 34 on the Top 50

 

Forty-seven percent of the most senior managers (direct reports to the CEO) were women. And 65 percent of all managers receiving promotions were women. Women also were 57 percent of the top 10 percent highest-paid employees.

 

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