Also read: factoids, DiversityInc Top 50, DiversityInc Specialty Lists, women, executive women mentoring
One of the most important specialty lists we announce each year is The DiversityInc Top 10 Companies for Executive Women, which looks specifically at the progress women are making in the upper and middle ranks of corporate America.
Women now are 3 percent of CEOs at Fortune 500 companies but 10 percent of DiversityInc Top 50 CEOs. Our female CEOs are: Pat Hemingway Hall of Health Care Service Corp., No. 22; Indra Nooyi of PepsiCo, No. 24; Nancy Schlichting of Henry Ford Health System, No. 26; Anne Mulcahy of Xerox Corp., No. 35; and Angela Braly of WellPoint, No. 44.
Women executives are making inroads, more at progressive companies like these, but not quickly enough.
Methodology: To determine this list, we looked at several factors, including: the ratio of women in the work force to women in management; management at three comparative levels--CEO and direct reports, direct reports to those direct reports, and all other managers and professionals; ratio of women in management to management promotions going to women; racial/ethnic demographics of women in management; racial/ethnic/gender demographics of the top 10 percent highest-paid employees; retention of women in management; work/life benefits; mentoring programs; validity and use of women's employee-resource group; and relationships with women-owned suppliers.
Here are the top 10 and a factor that stands out about each:
No. 1: Sodexo, No. 6 in the DiversityInc Top 50. Also No. 3 in The DiversityInc Top 10 Companies for Recruitment & Retention; No. 3 in The DiversityInc Top 10 Companies for African Americans; No. 2 in The DiversityInc Top 10 Companies for Latinos; No. 7 in The DiversityInc Top 10 Companies for LGBT Employees; and No. 9 in The DiversityInc Top 10 Companies for People With Disabilities
Sodexo has one of the strongest mentoring programs anywhere in the world, and the beneficiaries of much of this talent development are its female managers. The company's commitment starts at the top; three of the members of its eight-member board are female--one Black, one white, one Asian.
No. 2: Johnson & Johnson, No. 1 in the DiversityInc Top 50. Also No. 4 in The DiversityInc Top 10 Companies for Recruitment & Retention; No. 5 in The DiversityInc Top 10 Companies for Asian Americans; and No. 10 in The DiversityInc Top 10 Companies for LGBT Employees
With exemplary and innovative work/life benefits, especially those surrounding flexible work arrangements, Johnson & Johnson has demonstrated excellent retention and promotion of its women executives.
No. 3: Starwood Hotels & Resorts Worldwide, No. 39 in the DiversityInc Top 50. Also No. 8 in The DiversityInc Top 10 Companies for People With Disabilities
Starwood has progressive work/life benefits, including paid time off for volunteering and community outreach/professional associations, sign-language courses and work/life counselors. Women are 47 percent of managers and 43 percent of the company's top 10 percent highest-paid employees.
No. 4: Bank of America, No. 14 in the DiversityInc Top 50. Also No. 6 in The DiversityInc Top 10 Companies for Latinos; No. 2 in The DiversityInc Top 10 Companies for Recruitment & Retention; and No. 9 in The DiversityInc Top 10 Companies for Supplier Diversity
Bank of America continues to be a progressive leader in implementing innovative work/life benefits, especially those that allow employees more flexibility for family concerns. Women are 49.8 percent of managers and receive 50.4 percent of management promotions.
No. 5: American Express Co., No. 13 in the DiversityInc Top 50. Also No. 3 in The DiversityInc Top 10 Companies for Asian Americans and No. 1 in The DiversityInc Top 10 Companies for Recruitment & Retention
American Express has excellent work/life benefits, including backup childcare, paid sabbaticals and tuition reimbursement. Women are 25 percent of the direct reports to the CEO and 53 percent of all managers.
No. 6: Colgate-Palmolive, No. 27 in the DiversityInc Top 50. Also No. 7 in The DiversityInc Top 10 Companies for Asian Americans and No. 7 in The DiversityInc Top 10 Global Diversity Companies
The consumer-products giant has a very strong women's employee-resource group, called the Colgate Women's Network, and a first-rate mentoring program.
No. 7: Kaiser Permanente, No. 7 in the DiversityInc Top 50. Also No. 5 in The DiversityInc Top 10 Companies for People With Disabilities and No. 1 in The DiversityInc Top 10 Companies for Latinos
The company's board of directors is 36 percent women, and 4.1 percent of its Tier I (direct contractor) suppliers are women-owned businesses. In addition, Kaiser Permanente has well-developed work/life programs and very strong diversity training, which includes Executive Leadership Diversity Series; Mentoring and Coaching for the Protégé of Color Leadership Development Program and Sexual Harassment Training.
No. 8: AARP, No. 37 in the DiversityInc Top 50. Also No. 8 in The DiversityInc Top 10 Companies for African Americans
AARP's 23-member board has eight women members. The nonprofit has excellent work/life benefits, including paid time for volunteering or community outreach/professional-association activities; subsidized membership in wellness or fitness facilities; emergency backup child and adult care; a leave bank; an employee-crisis fund; and an onsite gym and fitness classes.
No. 9: JCPenney, one of DiversityInc's 25 Noteworthy Companies. Also No. 3 in The DiversityInc Top 10 Companies for Latinos
Three of the company's 12 board members are women. In addition, the company retains and promotes women executives extremely well. Women are 57 percent of managers and receive 61 percent of management promotions.
No. 10: Marriott International, No. 4 in the DiversityInc Top 50. Also No. 4 in The DiversityInc Top 10 Companies for Supplier Diversity; No. 9 in The DiversityInc Top 10 Companies for African Americans
The hotel giant has wonderful work/life benefits including infertility testing, a childcare-discount directory, family-care spending accounts, a leave-sharing donation program and flexible work arrangements.
