This article originally appeared on DiversityInc.com on May 15, 2006.
What makes a company strong for executive women? It has to be a place where they can grow professionally, be mentored and be mentors, be compensated and promoted equally to men, and achieve a successful work/life balance. It's important to note that of this top 10, 50 percent are financial-services companies, part of an industry that has been the pioneer in careers for executive women and continues to lead the pack.
Consider these statistics about the DiversityInc Top 10 Companies for Executive Women:
· The Top 10 Companies for Executive Women report that 48 percent of their managers are female, compared with 42.5 percent of the Top 50 and 37.2 percent of women nationwide (Bureau of Labor Statistics).
· The Top 10 Companies for Executive Women report that 36 percent of senior managers (CEOs and direct reports) are women, compared with 19 percent of the Top 50.
· The Top 10 Companies for Executive Women report that 47.7 percent of managers receiving promotions are women, compared with 36 percent of the Top 50.
· Of the female managers in the Top 10 Companies for Executive Women, 30 percent are people of color, compared with 27 percent for the Top 50.
· Sixty percent of the Top 10 Companies for Executive Women have onsite childcare, compared with 52 percent of the Top 50 and just 6 percent of companies nationally (Society of Human Resources Management).
Here are the Top 10 Companies for Executive Women:
No. 1: HSBC North America
Also No. 13 on The DiversityInc Top 50 Companies for Diversity list and No. 10 in the Top 10 Companies for Latinos.
With women comprising 47 percent of its managers—and 32 percent of direct reports to the CEO—HSBC clearly is a national leader for executive women. Forty-nine percent of managers receiving promotions are women and the company receives a perfect score for work/life benefits.
No. 2: American Express
Also No. 30 on The DiversityInc Top 50 Companies for Diversity list and No. 3 on the Top 10 Companies for Recruitment & Retention list.
Sixty-eight percent of managers who receive promotions at the financial-services giant are women. Women also comprise 42 percent of the top 10 percent highest-paid employees, compared with a Top 50 average of 30.7 percent.
No. 3: JPMorgan Chase
Also No. 11 on The DiversityInc Top 50 Companies for Diversity list, No. 2 on the Top 10 Companies for GLBT Employees list, No. 3 on the Top 10 Companies for Supplier Diversity list and No. 6 in the Top 10 Companies for Latinos.
A longtime diversity human-capital leader, the company receives a perfect score for work/life benefits and reports 45 percent of its managers are women.
No. 4: AT&T
Also No. 4 on the Top 10 Companies for Recruitment & Retention list, No. 2 on the Top 10 Companies for African Americans list, No. 4 on the Top 10 Companies for Latinos list, No. 5 in the Top 10 Companies for Supplier Diversity, No. 3 in the Top 10 Companies for GLBT Employees, and one of DiversityInc's 25 Noteworthy Companies.
With 33 percent of its board of directors female, the company formerly known as SBC Communications also notes that 3.75 percent of its procurement budget goes to 354 Tier I women-owned businesses.
No. 5: Wells Fargo
Also No. 17 on The DiversityInc Top 50 Companies for Diversity list and No. 5 on the Top 10 Companies for Latinos list.
Also with a board of directors that is 33 percent female, Wells Fargo reports that 54 percent of its managers are women.
No. 6: Comerica Bank
Also No. 12 on The DiversityInc Top 50 Companies for Diversity list and No. 4 on the Top 10 Companies for Supplier Diversity list.
With 7.25 percent of its procurement budget going to Tier I (contractor) women-owned businesses and another 5.75 percent to Tier II (subcontractor) women-owned businesses, this bank clearly makes women a priority. Also, 54 percent of managers are women, as well as 64 percent of managers receiving promotions.
No. 7: Sodexho USA
Also No. 14 on The DiversityInc Top 50 Companies for Diversity list and No. 6 on the Top 10 Companies for People With Disabilities list.
With 40 percent of its top 10 percent highest-paid employees being women, and 44 percent of all managers female, Sodexho USA has made a concerted effort to create a nurturing environment for executive women.
No. 8: HBO
Also No. 5 on The DiversityInc Top 50 Companies for Diversity list, No. 9 on the Top 10 Companies for Asian Americans and No. 6 on the Top 10 Companies for Recruitment & Retention.
Women are 51 percent of all managers and 17 percent are black, 5.75 percent are Latina and 8 percent are Asian American. HBO also gets a perfect score for work/life initiatives.
No. 9: Cingular Wireless
Also No. 15 on The DiversityInc Top 50 Companies for Diversity list, No. 9 on the Top 10 Companies for GLBT Employees list, No. 2 on the Top 10 Companies for People With Disabilities list and No. 1 on the Top 10 Companies for Latinos list.
Forty-four percent of managers are women at this telecom and they are 18 percent black, 8 percent Latina and 5 percent Asian American.
No. 10: Marriott International
Also No. 22 on The DiversityInc Top 50 Companies for Diversity list and No. 10 in the Top 10 Companies for Recruitment & Retention.
Forty-eight percent of managers and 48 percent of manager receiving promotions are women, as well as 18 percent of the board of directors.
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