NAFE Executive Summary 2013

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The Top 50 Companies For Executive Women 2013

Executive Summary

Research Methodology

Each organization completed a detailed application from the National Association for Female Executives (NAFE) covering both internal and external programs and activities that benefit women. The 2013 application included sections on the following:

Company Profile

Workforce Profile

Women’s Issues and Advancement

Company Culture and Work Life Programs

Completed applications for the 2013 NAFE Top 50 Companies initiative were collected online from December 9, 2011, to March 9, 2012, and also from July 13 to September 7, 2012.

Winning companies were selected from a pool of self-selected applicant companies and ranked on the data they provided in their applications.

Statistics reported are aggregated 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 being announced in the February/ March 2013 issue of Working Mother and at workingmother.com.

NAFE is a division of Working Mother Media.

Background on the Initiative

The purpose of the NAFE Top 50 Companies for Executive Women initiative is to recognize American corporations that have moved women into top executive positions and created a culture that identifies, promotes and nurtures successful women.

This application is designed to identify companies where women have significant clout, making the decisions that affect their company’s future and its bottom line. We’re looking for women who lead businesses, set policy and have profit-and-loss responsibility. It also tracks what companies are doing to help advance women and the impact of their programs.

In order to be eligible to be considered for the NAFE Top 50 survey, a company:

1.Must have a minimum of TWO (2) women on the Board of Directors

2.Must be a public or private for-profit* company

3.Must have a minimum of 1000 employees

4.The following organizations are NOT eligible to apply: Divisions of companies and companies in the business of providing work life services or consulting (e.g. child care or flexibility), or consulting and government agencies (taxation and revenue departments, motor vehicle bureaus, military, legislatures, executive branches, judiciaries, prosecutorial offices, etc.).

*Please note that each year we will also recognize a small group of not-for-profit companies, but each must meet the other criteria above.

Summary of 2013 Findings

Although we at NAFE won’t be satisfied until women make up half of all CEOs, board members and executives, we were nonetheless excited to see some improvement among the 2013 NAFE Top 50:

Women make up 25% of corporate executives at the NAFE Top 50, up from 22% last year

Women make up 22% of executives with profit-and-loss responsibility at the NAFE Top 50, up from 19% last year

Women make up 26% of the leaders of billion-dollar divisions at the NAFE Top 50, up from 23% last year

Women make up 26% of the board of directors members at the NAFE Top 50, after three years of holding steady at 23%

While each increase is small, we’re optimistic that, together, they signify progress that will continue picking up momentum.

Source: 2013 National Association for Female Executives

2013 NAFE Top 50

Companies in red are Top Ten Winners

Abbott

First Horizon National

Aetna

Fleishman-Hillard

Allstate Insurance

Freddie Mac

American Express

General Mills

Aon

HSBC USA

AstraZeneca

IBM

AT&T

Johnson & Johnson

Bank of America

JPMorgan Chase & Co.

BDO USA

KPMG

Bristol-Myers Squibb

Kraft Foods

Cardinal Health

Marriott International

Cisco Systems

Massachusetts Mutual Life Insurance

Colgate-Palmolive

MasterCard Worldwide

Dell

Merck

Diageo North America

Monsanto

DuPont

New York Life Insurance

Eli Lilly and Company

The New York Times Company

Source: 2013 National Association for Female Executives

  • Northern Trust
  • Pfizer
  • Pillsbury Winthrop Shaw Pittman
  • The PNC Financial Services Group
  • The Principal Financial Group
  • Procter & Gamble
  • Prudential Financial
  • Sodexo
  • Starcom MediaVest Group
  • State Farm
  • Target
  • Texas Instruments
  • Verizon Communications
  • Viacom
  • WellPoint
  • Wyndham Worldwide

Board Representation

The percentage of board seats occupied by women at the NAFE Top 50 increased this year after remaining steady the past three years.

Representation of women on boards of directors at the NAFE Top 50

Source: 2010, 2011, 2012, 2013 National Association for Female Executives

Board Representation

Women make up 26% of board of directors members at the 2013 NAFE Top 50 vs 17% across the Fortune 500.

Representation of women on boards of directors

0%

100%

2013 NAFE Top 50

26%

Source: 2013 National Association for Female Executives; Catalyst Census Fortune 500 Women Board Directors (2012)

7

CEO Representation

Female CEO representation held steady at 10% of the NAFE Top 50.

Percentage of companies with female CEOs

NAFE Top 50

Fortune 500 Companies

20%

20%

CNNMoney, “Fortune 500 CEOs,” April 20, 2009: http://postcards.blogs.fortune.cnn.com/2009/04/20/fortune-500-ceos-women-on-the-rise/Source: 2010, 2011, 2012 and 2013 National Association for Female Executives

CNNMoney, “Fortune 500,” April 15, 2010: http://postcards.blogs.fortune.cnn.com/2010/04/15/fortune-500-a-few-surprises/

CNNMoney, “Women CEOs,” October 26, 2011: http://money.cnn.com/galleries/2011/news/companies/1110/gallery.18_female_fortune_500_ceos.fortune/index.html

Catalyst, “Women CEOs of the Fortune 1000,” November 2012: http://www.catalyst.org/publication/271/women-ceos-of-the-fortune-1000

8

Executive Officer Representation

Twenty-five percent of executive officers at the NAFE Top 50 are women, up from 22% last year.

The NAFE Top 50 continue to outpace the Fortune 500 on representation of women at the executive level.

Accounting Executives

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Percentage of executives who are women

0%

100%

Source: 2012, 2013 National Association for Female Executives

Catalyst, 2011 and 2012 Catalyst Census Fortune 500 Women Executive Officers and Top Earners

9

P&L Executive Representation

At the NAFE Top 50, women make up 22% of the profit-and-loss corporate executives, up from 19% last year.

More than a quarter (26%) of the executives who run billion-dollar divisions at the NAFE Top 50 are women—an increase of 3 percentage points from last year.

Percentage of P&L executives who are women at the NAFE Top 50

0%

100%

Corporate executives with P&L responsibilities

Source: 2013 National Association for Female Executives

Manager Representation

The representation of women at the manager, senior manager and corporate executive levels increased this year at the 2013 NAFE Top 50, despite a decrease in female representation in the overall workforce at these companies.

Representation of women at the NAFE Top 50

Source: 2012, 2013 National Association for Female Executive

Advancement Programs

The NAFE Top 50 support women’s issues and advancement through a network of powerful programs.

Percentage of 2013 NAFE Top 50 that offer:

0%

100%

Executive coaching

100%

Affinity/network groups

100%

Management/leadership training

100%

Program to identify high-potential women

100%

Formal executive succession planning

98%

Formal mentoring program

96%

Career counseling

88%

Job rotation

80%

Sponsorship program

42%

Source: 2013 National Association for Female Executives

Participation in Advancement Programs

A higher percentage of women at the NAFE Top 50 participated in management/leadership training and mentoring programs than in the previous years.

More than half of women at the 2013 NAFE Top 50 participated in career counseling this past year, which is an increase of 32 percentage points from the rate of usage at the 2011 NAFE Top 50.

Female participation rate in advancement programs* at the NAFE Top 50

Management/

Affinity/

Sponsorship

leadership training Mentoring program

Career counseling

Network Groups

program

100%

100%

*Based on total number of women at those companies that have each program and provided female participation data.

Manager Training

More of the NAFE Top 50 offered manager training this year in work life concerns and implementing and supporting employee flexible work arrangements than in the previous two years.

However, the number of NAFE Top 50 Companies requiring managers to be trained on hiring, advancing and managing women has consistently declined over the past three years.

Percentage of the NAFE Top 50 offering:

Training on implementing

Training in how to hire, advance

Training in how to manage work

and managing employee

and manage women

life concerns of employees

flexible work arrangements

Manager Participation in Training

The percentage of managers participating in training at the NAFE Top 50 has increased slightly over the past three years.

Percentage of managers at the NAFE Top 50 trained in:

How to implement

How to manage work life

and manage employee

concerns of employees

flexible work arrangements

100%

100%

The 2013 application was the first year we asked for participation figures for manager training for hiring, advancing and managing women

Health and Wellness

The 2013 NAFE Top 50 are dedicated not only to the professional advancement of women, but also to supporting their personal health and wellness.

Percentage of the 2013 NAFE Top 50 that offer:

0%

100%

Stress management

100%

Wellness program

100%

Health fairs

98%

Weight-loss programs

94%

Nutrition counseling

92%

Fitness center discounts/subsidies

92%

Health screening programs

92%

Smoking-cessation programs

92%

On-site fitness classes

90%

Source: 2013 National Association for Female Executives

For-Profit vs. Nonprofit

2013 NAFE Top 10 Nonprofit Companies

  • Bon Secours Richmond Health System
  • Children’s Healthcare of Atlanta
  • Cornell University
  • Mercy Health System
  • Northwestern Memorial HealthCare
  • Scripps Health
  • TriHealth
  • VCU Health System
  • WellStar Health System
  • Yale-New Haven Hospital

Source: 2013 National Association for Female Executives

For-Profit vs. Nonprofit Top Companies:  Leadership

Representation of women in leadership positions

2013 NAFE Top 50

2013 NAFE Top 10 Nonprofit Companies

0%

100%

Executives

Executives with P&L responsibilities

Board of Directors

Top 10% earners

Source: 2012, 2013 National Association for Female Executives

For-Profit vs. Nonprofit Top Companies: Manager Accountability

Percentage of companies at which:

2013 NAFE Top 50

2013 NAFE Top 10 Nonprofit Companies

Managers are required to receive training on how to hire, advance or manage women

Formal compensation policies reward managers who help women advance

Managers are provided training on managing work life concerns of employees

Formal compensation policies reward managers who help manage work life concerns of employees

Managers are provided training on implementing flexible work arrangements

Managers provide employees information about how to implement and manage flexible work arrangements

Companies conduct company-wide surveys to detect gender inequalities in pay

There is a program to identify and resolve wage-gap grievances

0%

100%

Source: 2012 National Association for Female Executives

How do you rate in key areas like diversity & inclusion, women’s advancement and work life programs? The Working Mother Research Institute has the answer. With one of the most comprehensive databases available to corporate America, WMRI has the data you need to make the right decisions for both your employees and your bottom line.

To find out how your company rates, register today for one of our initiatives:

Working Mother 100 Best Companies

Working Mother Best Companies for Multicultural Women

Working Mother Best Companies for Hourly Workers

Working Mother & Flex-Time Lawyers Best Law Firms for Women

NAFE Top Companies for Executive Women

Diversity Best Practices Benchmarking Tool

Participation is free and confidential.

Interested in learning more? Visit wmmsurveys.com today!

Benchmarking

Our benchmarking reports offer the most detailed data available, showing how your company rates, question-by-question, against all of the Best Companies. Custom comparisons are also available.

Scorecards

Each participating company receives a free top-line summary of how it compares with all applicants across essential clusters of the initiative’s extensive application.

Custom Assessments

Let our researchers do the assessment for you. Our experienced team will turn your benchmarking data into a turnkey presentation showing where your company leads and lags compared with the Best Companies.

Interested in learning more? Contact us

From flexibility and child care to the recruitment, retention and advancement of women, the Working Mother Research Institute is dedicated to tracking and promoting the best practices of today while creating strategies for tomorrow.

WMRI’s goal is to give both working mothers and their employers the information

they need to make workplaces truly family friendly.

Learn more at workingmother.com/research-institute

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