NEW YORK, NY – March 6, 2019 – L'Oréal USA has been named one of the 2019 NAFE Top Companies for Executive Women by the National Association for Female Executives (NAFE). NAFE and Working Mother Media recognize trailblazing companies for their efforts to support female leaders and are dedicated to exploring the challenges women face in the workplace. This is L'Oréal USA’s fifth year on the list.
“At L’Oréal we believe that diversity is an essential source of creativity, innovation and performance,” said Angela Guy, Senior Vice President of Diversity and Inclusion at L'Oréal USA. “With women representing 70% of the company’s global workforce, and 68% in the U.S., we remain committed to creating an environment that ensures women are thriving and advancing into leadership positions.”
L’Oréal USA is dedicated to the advancement of women across its business. In addition to formal and informal mentorship programs, the company created employee think tanks to ensure women are developing at an equitable level. L’Oréal USA partners with the Harvard Kennedy School on an inclusive leadership program designed to remove bias from the workplace and hosts an annual executive offsite to discuss the development of women and promote inclusion. The company’s work on gender has been validated through Economic Dividends for Gender Equality (EDGE), the global standard for workplace gender equality. L’Oréal USA was the first company in the U.S. to be certified by EDGE and received its third certification in July.
The “Top Companies for Executive Women” list recognizes U.S. corporations that demonstrate effectiveness in moving women to senior ranks, including mentoring, sponsorship, involvement in employee-resource groups and leadership-development training. The list also highlights best practices in company benefits, including flexibility, corporate culture and CEO involvement in advancing women. The NAFE Top 70 Companies, released today, is featured in the April/May issue of Working Mother magazine. The full report on this year’s winners is listed here.
“In 2019, a woman’s journey up the corporate ladder still differs from a man’s, but the Top Companies stand out in their application of remedies,” says NAFE president Dr. Betty Spence. “They are models of how to progressively move women into senior roles, as reflected in their strong representation in the leadership ranks.”
“The 2019 NAFE Top Companies continue to tell a progressive story about what organizations are doing to move women up into executive positions,” says Subha V. Barry, president of Working Mother Media. “While the results are encouraging, there is still much work to do. There are still too few women serving as CEOs, managing large asset portfolios, and seated on boards of directors, but the NAFE Top Companies are paving the way for the advancement of women."
Highlights of the 2019 NAFE Top 70 Companies include:
- The percentage of women on the boards of directors at the NAFE Top 70 companies increased two points to 32 percent, up from 30 percent in 2018. S&P 500 held steady year over year at 21 percent.
- Female executives responsible for divisions worth more than $1 billion increased from 21 percent to 26 percent in the past year.
Methodology: The 2019 NAFE Top 70 Companies application includes more than 200 questions on topics including female representation at all levels, but especially the corporate officer and profit-and-loss leadership ranks. The application tracks and examines how many employees have access to programs and policies that promote advancement of women and how many employees take advantage of them, plus how companies train managers to help women advance. To be considered, companies must have a minimum of two women on their boards of directors, a U.S.-based CEO, and at least 1,000 U.S. employees.