A recent study by Equileap looks at the numbers on gender equality at America's largest companies.
A recent study by Equileap looks at the numbers on gender equality at America's largest companies. General Motors, Bank of America, and Johnson & Johnson top the list.
Let's take a look at how they are working to improve gender equality in the workplace.
Bank of America
Essentially, this large company makes its public image transparent about its gender composition and leadership. They are also launching many programs that society needs to have equality. It is a matter of public relations, but also of gender balance to implement policies. The company has a mentoring program that highlights the importance of elevating women in technology. Additionally, the brand is known for promoting the leadership of women in its organization.
Mary Barra, President, and CEO of General Motors told The Fuqua School of Business: "I am fortunate to have a wonderful board and a wonderful CEO, Tim Solso, who was the CEO of Cummins for about a decade. He believes in the power of diversity." General Motors was also working on diversity 20 years ago. There are many members of their board who are actively building and want that diversity too. For all of their executive positions, they require a diverse roster of candidates.
Johnson & Johnson
The company is known for having female executives. They even have campaigns where the voice of these women leaders for good causes is shared. For example, to celebrate Fortune's Most Powerful Women Summit, seven Johnson & Johnson executives shared their leadership tips with young people. Among them, Jennifer Taubert, president of the pharmaceuticals business group, said: "To be a more powerful woman one day, focus on where you can make an impact and where you can learn and grow – and then do it!".
Citigroup claims to be close to closing the racial and gender pay gap. Citigroup released its pay data by gender and race among 75,000 employees in the US, Great Britain, and Germany. According to WTNH News8, "Female employees were found to earn 99% of what their male co-workers earn, and minorities earn 99% of what non-minorities earn." The company assures that it will continue working to close the wage gap.
Bill Kapfer, Director of Global Supplier Diversity, said in an interview with the organization: "I am committed to advancing women in the workplace, giving them an opportunity, hoping that I can understand what they are going through and provide them with access to them." For this, JP Morgan has the Women On The Move program, which promotes gender equality in the organization for women in each executive position and that they are paid fairly.
Although these are the top US companies for gender equality, they have yet to close the gender gap. For this study, 3,500 companies were investigated. The top companies scored seven to eight percent, showing that a greater gender balance is needed. American companies must work on their transparency regarding the pay gap.