18 Jul Meet the Companies Setting the Standard

Vision, Action, Results

By Erin Chan Ding

Women have shifted their priorities when it comes to what they want from work. Even as the life-altering rhythms of the COVID-19 pandemic have subsided in the past year, millions of women have realized that work flexibility is not just a “nice-to-have” but an essential part of integrating their careers into their everyday lives.

The best companies understand that to retain and promote women, they need to flex.

The Women in the Workplace 2022 report—a collaboration between LeanIn.org and McKinsey & Company, and the largest study on the state of women in Corporate America—notes that “after the pandemic forced Corporate America into a massive experiment with flexible work, enthusiasm for flexibility in all its forms is higher than ever.”

Only one in 10 women wants to work mostly on-site, the report said, and more than 70 percent of human resources leaders say that remote work has allowed them to hire and retain employees from more diverse backgrounds.

Despite increased workplace flexibility, which has led to greater job satisfaction, women continue to face substantial headwinds when it comes to leadership, especially in regard to that crucial first step. Only 87 women are promoted for every 100 men from entry-level position to manager, resulting in an ongoing imbalance of women in management roles compared with men.

But the best companies have not only discovered ways to flex that make their work environments especially hospitable to women; they also value and actively retain and promote women. We found 16 organizations with an intense focus on supporting and advancing women and are proud to call them Diversity Woman Media’s Best Companies for Women in 2023.

Here is what they’ve done.

 

Amazon

ONLINE RETAIL

Women lead several of Amazon’s largest and most important divisions, including Amazon Fresh, global diversity, and the company’s delivery experience.

• Amazon’s global mentorship program creates more than 6,000 mentorship opportunities every year to actively recruit and help more women advance into senior and technology-focused roles.
• Amazon prioritizes equal pay,
and women can earn between 99.8 and 100 cents for every dollar that men have earned in the same jobs.
• The company’s Women at Amazon group is a critical resource to help the organization think big about the way women’s lives are impacted, inside the business and in the community.

“For women looking to thrive in an innovative, global environment, Amazon offers that opportunity. Here, you can come and succeed in music, work with authors and publishers, or build robots. Amazon allows you to chart your own path in your work and in your career because we truly believe a good idea can come from anywhere and anyone.”

– Tonya Hallett, vice president, people experience and technology, global delivery services

 

AT&T

TELECOMMUNICATIONS

AT&T considers women critical to its foundation and places an emphasis on supporting women’s career development and advancement throughout the company.

• AT&T provides family-focused benefits to support the total well-being of its employees as working parents. It offers 24/7 virtual parental support, reproductive health benefits, paid parental leave, family planning resources, and career counseling after parental leave.
• In 2021, women made up more than 30 percent of AT&T’s US-based workforce, with 36.6 percent in senior leadership positions.
• AT&T has various programs that help foster growth and leadership support for women, including the International Women’s Program, which is focused on providing a supportive and inclusive workplace experience for women employees internationally and the Women
of AT&T employee resource group. One of the country’s first female employee resource groups when
it launched in 1972, Women of
AT&T now has more than 15,000 members.

“Women are core to our success at AT&T and to the way we connect people to greater possibility. We’re proud to offer world-class career development and mentorship opportunities that help prepare women for leadership roles in every area of our business.”

– Angela Santone, senior executive vice president of human resources

 

Bank of America

FINANCIAL SERVICES

The company’s Leadership, Education, Advocacy and Development (LEAD) for Women employee network has more than 45,000 members and connects, develops, and elevates women across 65 global chapters.

• The bank works with nearly 200 external partners and more than 600 colleges, universities, and community colleges—including historically Black colleges and universities, Hispanic-serving institutions, and tribal colleges.
• Bank of America’s 24-member management team includes eight women and is more than 57 percent racially, ethnically, and/or gender diverse. Its board of directors is
53 percent diverse, with 33 percent—or five—women. The bank’s 2022 summer internship class was composed of 45 percent women.

“We know that when women thrive, whole families, whole communities, and whole economies thrive. That’s why we are committed to investing in women by being a great place to work for our women employees, supporting our women clients, and empowering women in communities around the globe.”

– Cynthia Bowman, chief diversity, inclusion, and corporate social
responsibility officer

Cisco

TECHNOLOGY

As part of its commitment to increasing representation company-wide, Cisco has a program for women in mid-level positions to grow in their leadership. The focus on women in leadership has contributed to a rise in Cisco’s female vice presidents, which has reached 25 percent, and female members of the executive leadership team, which is at 42 percent.

• From fiscal year 2020 to 2022, Cisco grew its workforce of employees who identify as Black by 60 percent from entry level through managerial positions, by 94 percent at the director level, and by 160 percent at vice president and above. Its overall commitment has been to increase Black representation of entry level through managerial positions by 25 percent, and director through vice president and above by 75 percent from 2020 through 2023.
• The company runs a program for women who are early in their careers, giving them the framework to build community, empower one another, and create career visions. Participants are 1.4 times more likely to stay at Cisco and grow their careers at the company.

“At Cisco, our purpose is to power an inclusive future for all, so it’s critical that we amplify the voices of our women across the full spectrum of diversity. Our focus on pay parity, sponsorship, and mentorship is all in service of building a pipeline of future leaders who reflect the customers and communities we serve. I’m proud to share that 42 percent of our executive leadership team are women. We know how critical it is for women to see females sitting at the leadership table, and we’re committed to getting them there.”

– Gloria Goins, chief diversity, equity, and inclusion officer

 

Dell Technologies

TECHNOLOGY

Dell Technologies offers networking, formal training, mentoring, and a number of resources to help advance the company’s female employees around the globe.

• Dell has committed to making 50 percent of its global workforce and 40 percent of its global people leaders those who identify as women
by 2030.
• Dell has created a leadership development and coaching program for high-performing individuals to build key capabilities and support their careers at Dell.
• The company’s employee resource groups, such as Women in Action, provide development, leadership, and networking opportunities to attract, empower, and retain women.

“At Dell Technologies, our culture and our people are key differentiators. Who we are and how we work with and for each other set us apart. We have been advocating for and championing inclusion for decades. Diverse perspectives allow us to access new levels of creativity and innovation, consider multiple experiences and backgrounds, and readily anticipate the needs of our customers worldwide. Increasing representation and retention of those who identify as women at all levels is essential to our long-term strategy. We take pride in the progress we’ve seen around the world and remain committed to creating an inclusive environment where everyone can perform and be their authentic selves.”

– Vanice Hayes, chief culture, diversity, and inclusion officer

 

Dollar General

RETAIL

The leadership at Dollar General believes that diversity and inclusion begin at the highest positions, and the company focuses on equipping leaders to catalyze cultural transformation and model inclusivity at every level.

• Dollar General spent more than 18,000 hours in 2022 on training leaders in inclusiveness.
• The company’s senior leadership is 45 percent female, and its entire workforce is about 66 percent female.
• More than 100 of Dollar General’s officers have sponsored the development of underrepresented talent yearlong through the company’s Develop 2 Lead initiative.

“We believe diversity and inclusion start at the highest level, and positioning others for success is a fundamental part of our leadership philosophy. Dollar General–created programs provide formalized avenues for developing underrepresented talent. Our Women’s Executive Development Cohort, Women’s Professional Network employee resource group, and other development programs work to foster and advance women across stores, distribution centers, our private fleet, and corporate office.”

– Dr. Johné Battle, chief diversity
officer

 

Edward Jones

FINANCIAL SERVICES

Edward Jones strives to be a place of belonging, where diversity, equity, and inclusion are embedded throughout the firm. That’s because the leadership believes that different perspectives make for better business.

• Edward Jones has 12 firm-sponsored, volunteer-led business resource groups (BRGs), with membership available to all of its 52,000 colleagues. The groups include Asian American and Pacific Islander, interfaith, Black/African American, Hispanic, veterans, remote connections—and women, the largest group. As of March 2023, the company has about 6,000 BRG members, with 70 percent of them women.
• The firm has improved its financial advisor representation to 23 percent women—above the industry average—and continues to grow that figure.
• Edward Jones has committed to working toward diverse representation of women and people of color throughout its organization—starting with the C-suite and continuing with leadership in its home office—by ensuring that women are hired and/or developed into those roles at the same rates as men. It has also committed to transparency with its measures to advance diversity, equity, and inclusion.

“We are relentlessly committed to do more—to attract, develop, and engage a diverse workforce and to foster an inclusive culture. When we talk about diversity, we mean every aspect of diversity, including women, diversity among generations, people of color, different faiths, backgrounds, and experiences. We’re investing in our colleagues in a variety of ways—increased flexibility and choice for financial advisors to run their practices, and more professional development opportunities, which we believe will have a positive impact on our financial advisors and our clients.”

– Jennifer Kingston, head of enterprise diversity, equity, and inclusion

 

Fidelity Investments

FINANCIAL SERVICES

The number of women in Fidelity’s workforce is rising. Much of the growth is driven by new hires, 42 percent of whom identifed as women in 2022. Working toward gender parity in leadership levels has also been part of its multiyear strategy.

• Fidelity’s benefits include emotional well-being services, generous paid time off, and benefits to facilitate caregiving, including resource-finders and concierge services to help accomplish tasks outside of work. Fertility, adoption, and healthy-pregnancy programs support associates on varoius paths to family building, and nursing support services and expanded parental leave help new parents manage the transition back into the workforce.
• Support networks offered by affinity groups include the Women’s Leadership Group, Women in Technology Special Interest Group, and Raise, a support network for working caregivers. The company also provides leadership development programs designed for women at all levels of their careers.
• A six-month return-to-work program that is open to all often attracts women who have taken a career break to focus on raising a family. Participants get access to work opportunities, return-to-work readiness assessments, professional development, and options for networking and mentoring.

“Fidelity is a great place for women and people from all backgrounds to build their careers. We work to create a culture of inclusion. We know that women often take on the lion’s share of caregiving and household management, so we consistently evolve our benefits to help our associates manage their responsibilities at work and at home.”

– Wendy John, head of global diversity and inclusion

 

Genentech

BIOTECHNOLOGY

Genentech’s long-term gender-diversity strategy has seen gains in representation across the company. It continues to advance its ambitious 2025 Diversity & Inclusion Commitments, focused on fostering belonging, advancing equity, and transforming society.

• Among Genentech’s directors and officers, 51.7 percent identify as women. The company has also launched mandatory inclusive hiring and training modules for all employees.
• Genentech says it maintains pay parity, with no effective pay difference among genders or races.
• The company launched two new leadership enhancement programs: the Genentech Leadership for Executive Advancement and Development program, or gLEAD, which partners with Columbia Business School to strengthen and advance the leadership skills and capacities of the company’s senior talent from underrepresented groups; and the Asian Leadership Academy, a partnership with McKinsey that gives participants the opportunity to work through leadership development modules, and take part in teamwork exercises.

“We have been working diligently for nearly two decades to build a workforce that is reflective of our increasingly diverse world while fostering a workplace culture where all employees feel like they belong and can thrive. That means listening to our employees, analyzing and addressing the gaps and areas of opportunities across our organization, and transparently setting goals and sharing progress. Our organization is attractive to women and other historically underrepresented groups in STEM because we support our D&I commitments with concrete actions and results, including consistently maintaining pay parity across Genentech.”

– Cari DeLoa, head of data and insights, chief diversity office, CDO

 

Google

TECHNOLOGY

In 2022, Google built its most representative workforce yet. Women have achieved their highest-ever level of representation across Google’s tech, non-tech, and leadership roles—both in the United States and globally.

• Black and Latinx Googler representation is at its highest ever in tech and non-tech roles and in leadership positions, with 5.2 percent Black representation and 4.3 percent Latinx representation in leadership. A record-high percentage of women were hired in leadership positions in Asia-Pacific countries.
• Google manually reviewed more than 5,000 job postings across Europe, Africa, and the Middle East with the goal of increasing representation of women, Black talent, and people with disabilities. During the review process, the company reduced bias in content and wording for job titles, requirements, and responsibilities.
• Google has met its racial-equity commitment of increasing its leadership across Black, Latinx, and Indigenous populations by 30 percent—three years ahead of its 2025 goal.

“I think women are drawn to Google because we offer a community and support network that is second to none. Women at Google truly have the opportunity to leave their mark and make a positive impact on the world. More now than ever, women at Google are leading the charge in our business growth. While we have more work to do, we have made a commitment to closing the gap and putting women—particularly women of color—in more seats at the table.”

– Cassandra Johnson, vice president
of customer care and vendor management office

 

Intel

TECHNOLOGY

Intel has met or exceeded several of its 2022 inclusion goals when it comes to representation of women and people of color.

The company surpassed its goal of 1,500 women in senior leadership roles across the globe, ending the year with 1,646 women in global senior leadership.

• In 2022, women represented 30 percent of salaried early-career technical hires at Intel.
• Intel has continued to integrate its Executive Warmline, which is staffed by case managers who work with executives requesting internal transition and career navigation support. Of those who used the Executive Warmline since its launch in 2021, 82 percent have stayed at Intel.

“I think sponsorship is critically important, especially for women and people of color. Our research shows that, especially in senior ranks, this is the greatest opportunity to drive greater progression for diverse talent.”

– Dawn Jones, chief diversity and inclusion officer and vice president of social impact

 

The Hershey Company

FOOD

Hershey can claim a long legacy of commitment to advancing women and people of color into leadership positions. The company had its first female board director in the 1970s, and Michele Buck currently leads Hershey as its CEO and board chair. Women run some of Hershey’s largest areas, including its salty snacks division, sales, innovation, and investor relations.

• Hershey’s board of directors includes five women, or 42 percent of its seats. Twenty percent of its executive committee are women, and 30 percent are racially diverse. Its global workforce is nearly 50 percent female.
• The company has installed a new early-in-career executive committee talent review to highlight future leaders who are women and people of color. It also created a Leading Snacking Powerhouse Accelerator Program and a mentoring platform to advance women and people of color.
• Hershey has achieved aggregate pay equity for US salaried women and people of color.

“At Hershey, there are so many women leaders in visible, mission-critical roles. This is a place where seeing is believing. The company does not just talk about supporting and promoting women; it is ingrained in the culture, and you see it across the leadership. The visibility of leaders and the opportunity to work with so many amazing women are attractive to many candidates and were a key reason I joined Hershey.”

– Amber Murayi, vice president, strategy

 

JPMorgan Chase

FINANCIAL SERVICES

At JPMorgan Chase, women represent nearly 50 percent of the firm’s global workforce, 39 percent of its operating committee members, and 27 percent of its senior leaders.

• Taking into account factors such as an employee’s role, tenure, seniority, and geography, in 2022 those who identified as women were paid 99 percent of what men were paid.
• JPMorgan Chase’s Women on the Move initiative provides women inside and outside the firm with opportunities to succeed in their professional and personal lives by expanding women-run businesses, improving women’s financial health, advancing women’s career growth, and supporting women and girls in communities globally.
• JPMorgan Chase offers a wide range of programs and resources to support working parents, including 16 weeks of paid parental leave for US employees (regardless of whether they’re the primary parent), lactation support, adoption/surrogacy assistance, infertility benefits, childcare options, mentor programs, and education.

“At JPMorgan Chase, we know that having a diverse workforce reflective of the communities we serve helps to foster a stronger corporate culture and drives more favorable business outcomes. That’s why I am proud to work for a firm that remains committed to championing diverse perspectives and where women represent about half of our global workforce—bringing unique talent and experiences.”

– Sam Saperstein, managing director and global head of Women on the Move

 

Target

RETAIL

The contributions of women—
including female leaders, team members, partners, and suppliers—are at the root of Target’s success and the fulfillment of its purpose to help all families discover the joy of everyday life.

At Target, 56 percent of team members, nearly 50 percent of its leadership team, and one-third of its board of directors are women. In 2022, women represented more than 50 percent of promotions across all levels at Target.

• Nearly half of Target’s stores are run by women, and nearly 40 percent are run by people of color. Global female representation is close to or exceeds 50 percent at all levels.
• Target pays all team members equitably, regardless of gender, race, or ethnicity.

“Target has a longtime commitment to diversity, equity, and inclusion, and that includes a focus on equitable representation, advancement, and experiences for women. Over the years, we’ve cultivated programs and opportunities to help women thrive at Target, including our team-member-led Women’s Business Council, development programs for diverse engineers, and accelerators for emerging businesses. Through our focused DE&I strategy, we’re committed to making even more progress for women across our organization.”

– Kiera Fernandez, chief diversity and inclusion officer and senior vice president, Talent and Change

 

Toyota

AUTOMOTIVE

At Toyota, women are among the top leaders across the enterprise in North America, including Toyota Motor North America and Toyota Financial Services.

• Women make up 24.2 percent of the company workforce, including 26.8 percent of managers, with 23.7 percent at executive levels. Seven of the 13 manufacturing plants in North America are run by women or people of color.
• In 2022, Toyota spent $5.96 billion with diverse suppliers, contracting with more than 150 minority- and women-owned suppliers.
• Toyota’s company-wide employee resource group, Women Influencing and Inspiring Toyota, has hosted Toyota’s biggest annual development event for women—the North American Women’s Conference—for over 10 years.

“As we transition to a mobility company, we recognize the transformative power of innovative thinking that only comes with diversity of thought and experience. That’s why it’s a core mission to recognize and celebrate diversity at all levels, to drive a culture of inclusion where every team member can thrive, and to provide equal access to education for the jobs of tomorrow.”

— Tellis Bethel, group vice president of Toyota Motor North America Social Innovation and chief diversity officer

 

Wells Fargo

FINANCIAL SERVICES

Wells Fargo makes it a priority for employees to see and feel that they are being represented across all levels of the company, particularly at executive ranks. The company strives to foster an environment of inclusion and belonging so that staff can bring their full selves to work.

• As of 2022, 25 percent of the operating committee members who report to the CEO, and 55 percent of all employees, are female. In 2021, 44 percent of executives were female, compared with 41 percent in 2020. In addition, 53 percent of female executives received promotions in 2021.
• Wells Fargo has developed diversity, equity, and inclusion performance objectives for its leaders. Factored into leaders’ performance evaluations and compensation is their ability to increase gender, racial, and ethnic representation that’s consistent with affirmative action goals and equal-employment opportunity principles.
• Wells Fargo created its US-based Glide–
Relaunch program to connect with individuals seeking a return to work after a prolonged period of time due to caregiving and other life events. The eight-week “returnship” gives participants the support necessary to make a smooth transition back into employment.

“At Wells Fargo, representation matters, as it enhances our ability to tap into the power, creativity, and insights that come from a diverse range of experiences. That’s why we are committed to offering the resources and tools for women to thrive in their careers. Understanding their uniqueness and how best to ensure their voices are heard, incorporated, and leveraged to improve business results is important for our company.”

– Kristy Fercho, senior executive vice president and head of Diverse Segments, Representation and Inclusion