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National Association for Female Executives Top 50 Companies Executive Summary 2010

CEO Representation

NAFE Top Companies Fortune 500 Companies

Source: Catalyst, 2009 Catalyst Census Fortune 500 Women Executive Officers (2009)

•  Seven of the NAFE Top Companies have Women CEOs, compared to fifteen of the Fortune 500 Companies

Board of Directors Representation


Source: 2009 Catalyst Census Fortune 500 Women Board Directors (2009)

•  Nearly a quarter of the Board of Directors at the NAFE Top Companies are female, compared to 15 percent at Fortune 500 Companies.

•  60 percent of the NAFE Top Companies report that three or more women serve on their board of directors versus less than 20 percent of Fortune 500 companies.

Corporate Executive Representation


Source: Catalyst, 2009 Catalyst Census Fortune 500 Women Executive Offers (2009); “Executive Officers” defined by Catalyst as the ” sum of all women directors or women Executive Officers in each rank divided by the sum of all board seats or Executive Officer positions in each rank.

•  Nearly 30 percent of the Corporate Executives at the NAFE Top Companies are female, compared to 15 percent at Fortune 500 Companies.

Power & Earnings: Where the Women Are

NAFE Top Companies Women Direct Reports to CEO

NAFE Top Companies Top 10% Earners

P&L Responsibilities

NAFE Top Companies

Source: Catalyst, 2009

•  26 percent of the Corporate Executives with P&L responsibilities at the NAFE Top Companies are female.

Advancement Programs •  While every NAFE Top Company offers management / leadership training and support / networking groups to female employees, the advancement program with the highest female usage is career counseling.

Succession Planning

% of NAFE Top Companies that offer formal executive succession planning

% of female participants

•  Nearly all NAFE Top Companies offer formal executive succession planning. At these companies, women represent 38% of all participants in the process.

NAFE Top 50 Companies

(% of companies that offer)



NAFE Top 50 Companies with

Female CEOs (% of companies that offer)

Managers required to receive training on how to hire and advance women 82% 90% 100%

Formal compensation policies reward managers who help women advance 70% 90% 71%

Managers held accountable meeting women’s advancement goals 78% 90% 86%

Mangers held accountable for improving the number of women in senior management 48% 60% 57%

Conduct company-wide surveys to detect gender inequalities in pay 86% 100% 100%

Management reviews compensation data specifically for gender equity 92% 100% 100%

Manager Accountability

Impact of Female Representation

*Represents ten companies with overall female representation over 60%

**Represents ten companies with overall female representation 35% and under

•  NAFE Top Companies data finds that companies with the highest female representation overall maintain higher levels of women at all job levels.

For-Profit vs. Non-Profit Top Companies: Leadership

•  At nearly every job level, NAFE’s winning non-profits outpace the top for-profit companies in terms of women’s representation.

•  NAFE Top For-Profit Companies report higher usage rates among women in career counseling, support/networking groups and mentoring programs, while NAFE Top Non-Profits see higher usage rates for women in management/leadership training.

For-Profit vs. Non-Profit Top Companies: Advancement



NAFE Top 10 Non-Profit Companies


Managers required to receive training on how to hire and advance women 82% 90%

Formal compensation policies reward managers who help women advance 70% 70%

Managers held accountable meeting women’s advancement goals 78% 90%

Mangers held accountable for improving the number of women in senior management 48% 70%

Conduct company-wide surveys to detect gender inequalities in pay 86% 100%

Management reviews compensation data specifically for gender equity 92% 100%

For-Profit vs. Non-Profit Top Companies: Accountability

2010 NAFE Top Companies •  Kellogg Company •  Kraft Foods, Inc. •  Macy's, Inc. •  Marriott International, Inc. •  McKinsey & Company •  Merck & Co., Inc. •  MetLife, Inc. •  New York Life Insurance Company •  Northern Trust Corporation •  Office Depot •  PepsiCo •  Pfizer Inc •  Principal Financial Group •  Prudential Financial, Inc. •  State Farm ® •  Texas Instruments Incorporated •  The Dow Chemical Company •  The McGraw-Hill Companies •  The New York Times Company •  The PNC Financial Services Group, Inc. •  The Procter & Gamble Company •  Verizon Communications Inc •  Wal-Mart Stores, Inc. •  WellPoint, Inc •  Xerox Corporation

•  Abbott •  Aetna •  Allstate Insurance Company •  American Electric Power •  American Express Company •  AstraZeneca •  AT&T •  Avon Products, Inc. •  Bank of America •  Bristol-Myers Squibb •  Chubb & Son, a division of Federal Insurance Company

•  Cisco •  Colgate-Palmolive Company •  Diageo North America •  DuPont •  Eli Lilly and Company •  Fleishman-Hillard, Inc. •  General Mills •  Grant Thornton LLP •  Hewitt Associates LLC •  HSBC - North America •  IBM Corporation •  Intel Corporation •  Johnson & Johnson •  JPMorgan Chase

2010 NAFE Top Non-Profit Companies •  Blue Cross and Blue Shield of North Carolina •  Bon Secours Richmond Health System •  March of Dimes Foundation •  MidMichigan Health •  Northwestern Memorial HealthCare •  Pitt County Memorial Hospital •  TriHealth, A Partnership of Bethesda and Good

Samaritan •  VCU Health System •  WellStar Health System •  Yale-New Haven Hospital

Research Methodology •  Each organization completed a detailed application covering both internal and

external programs and activities that benefit women. The 2010 application included sections on the following:

  Company Profile

  Workforce Profile

  Women’s Issues & Advancement

•  Completed applications for the 2010 NAFE initiative were collected online by an independent survey research firm, from December 17, 2008 to March 6, 2009 and also from August 7th to October 2nd, 2009.

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

•  Statistics reported herein are aggregate 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 announced in the March 2010 issue of NAFE Magazine.

Registration is now open for 2011 NAFE Top Companies!

•  The National Association of Female Executives invites all organizations to register for the Top 50 Companies at www.wmmsurveys.com if their company meets the following criteria:   Must be a publicly or privately held, for-profit

company. Non-for-profit companies may apply, but are celebrated in a separate list.

  Must have a minimum of TWO (2) women on the board of directors

  Must have a minimum of 500 employees

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