L’Oréal USA has been named one of top ten companies on the 2020 NAFE Top Companies for Executive Women by the National Association for Female Executives.
This list recognizes US companies that have a strong focus on best practices that move women to senior ranks, including mentoring, sponsorship, involvement in employee-resource groups and leadership-development training. The list also highlights company benefits and corporate cultures of accountability for gender-equity results, including the involvement of the CEO and top leaders in advancing women. The NAFE Top 70 Companies, released today, is featured in the April/May issue of Working Mother.
“Gender equality is critical to our success, and at L’Oréal we are committed to creating an environment where women can advance their careers and not only attain, but flourish in positions of leadership,” said Angela Guy, Senior Vice President of Diversity and Inclusion at L'Oréal USA. As the world's number one beauty company, we consider it an imperative that our workforce represent the world around us. Achieving gender equity is a key piece of that, and we are honored to be recognized for our ongoing effort."
Referring to the S&P 500, where women remain stalled at 6 percent of CEOs, NAFE President Dr. Betty Spence said: “Our research ‘The Gender Gap at the Top: What’s Keeping Women from Leading Corporate America’ uncovered the alarming fact that men— not women—are being trained and selected for the revenue-generating positions that lead to the top job. At the NAFE Top Companies, we do report small increases in women running major operations and moving into the C-suite, and we encourage all companies to focus on gender equity in their succession planning.”
“The 2020 NAFE Top Companies continue to tell the story of what organizations are doing to move women into executive positions by communicating the value of P&L roles and ensuring equity in executive succession planning,” said Subha V. Barry, president, Working Mother Media. “However, corporate America is finally beginning to realize that there is still much work to do. There are still too few women with this experience, but the NAFE Top Companies continue to pave the way for the advancement of women.”
Highlights of the 2020 NAFE Top 70 Companies include:
●Female representation among CEOs at the NAFE Top 70 companies increased 3 percentage points to 22 percent this year, outpacing the S&P 500 at 6 percent.
●The percentage of women on the boards of directors at the NAFE Top 70 companies increased 2 points to 34 percent, up from 32 percent in 2019.
●Female executives responsible for divisions worth more than $1 billion was 38 percent, up from 26 percent last year.
The 2020 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 US-based CEO and at least 1,000 US employees.