The National Association for Female Executives (NAFE) today named Citi as one of the “Top 50 Companies for Executive Women,” leading corporate America in recruiting, retaining and advancing women in the workplace.
“Citi is proud to be recognized by the National Association of Female Executives for its strong commitment to fostering the development, advancement and leadership of women,” said Ana Duarte McCarthy, Chief Diversity Officer, Citi. “Attracting and developing the best talent is one of our highest priorities. We are committed to providing the skills, experience, training and support that emerging and established leaders need to succeed.”
Carol Evans, president of Working Mother Media and CEO, NAFE, says, “The NAFE Top 50 Companies are major employers that are committed to hiring, retaining and promoting executive women. They represent a cross-section of companies that go way beyond lip service in helping women succeed. Almost seven out of 10 companies require their managers to receive training on how to hire, advance or manage women. Manager accountability is the main ingredient for success.”
The newly released report, conducted by the Working Mother Research Institute, revealed that women hold nearly one in four positions at the Top Companies (23%) overseeing divisions with more than $1 billion in revenue. The report also finds that women hold 23% of all board of director seats at the Top Companies compared with 16% across the Fortune 500.
Key findings from this year’s research include:
- 22% of executive offers at the NAFE Top Companies are women compared with 3.6% at the Fortune 500
- Women hold 19% of revenue-generating P & L jobs– the pipeline to the CEO position
- All NAFE Top Companies offer management or leadership training to women
- CEOs at 92% of Top Companies review succession plans for gender equity
Betty Spence, PhD, president of NAFE, reports, “The key concern of talent executives at major companies today is women’s advancement to the highest ranks. NAFE emphasized the importance of ensuring that women enter the leadership pipeline early and then have the training, exposure, and sponsorship they need to succeed.”
The report is published in the February/March issue of Working Mother magazine; visit workingmother.com.
Methodology: The 2012 NAFE Top 50 Companies application includes more than 250 questions on topics including female representation, hiring, attrition and promotion rates, access and usage of key retention and advancement programs. The application draws particular attention to the number of women at the highest ranks and those with profit-and-loss responsibility. To be considered, companies must have a minimum of two women on their board of directors as well as at least 500 employees in the U.S.
The National Association for Female Executives (NAFE), founded in 1972 serves 20,000 members nationwide with networking, tools and solutions to strengthen and grow their careers and businesses. Working Mother magazine publishes the annual Top Companies and the Women of Excellence lists. NAFE.com provides up-to-date information, community for women in business and access to member benefits. NAFE is a division of Working Mother Media, owned by the Bonnier Corporation. 2012 marks the 40th anniversary of NAFE.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com.
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