Catalyst: Press Releases

Work-Life Effectiveness in Asia: One Size Doesn’t Fit All

Wed, 16 May 2012 00:00:00 -0400

NEW YORK (May 16, 2012)--While both women and men in Asia have high career aspirations, more women than men experience lack of workplace flexibility as a career obstacle. According to Catalyst’s latest study, Expanding Work-Life Perspectives: Talent Management in Asia, there’s a mismatch between employees’ workplace flexibility needs and work-life programs at global companies in Asia: It’s possible that programs offered may not be the right fit regionally and, as a result, people may not feel comfortable using them.

To be effective, the report suggests, work-life programs can’t be “one-size-fits-all”—organizations need to develop localized approaches that take diverse cultural contexts and customs into account.

The Catalyst report explores the work-life perspectives of over 1,800 high-potential employees in countries throughout Asia and includes an additional section comparing responses from India, China, and Singapore. Separate in-depth reports on India, China, and Singapore provide further insights about high-potential women and men working in these three countries.

“Work-life effectiveness in Asia has been relatively unexamined and is critical in a region that needs to develop talent to meet the demands of dynamic economic growth,” said Ilene H. Lang, President & CEO of Catalyst. “In India and China, where women’s economic and workforce participation is on the rise, tapping into women’s talents and finding the right work-life solutions directly impact the ability of companies to recruit, develop, and retain promising employees—enhancing workplace performance, the bottom line, and competitive advantage.”

Among the key findings, the study found that:

Both women and men in Asia are very ambitious about career advancement but also value having a good fit between work and their personal lives—90 percent rated work-life fit as “very important”—and they appreciate workplace flexibility.
Although respondents were relatively satisfied with the level of flexibility at their companies, our analysis showed that for more than 80 percent there’s a gap between the level of workplace flexibility employees say they need and the flexibility actually provided, and women were less satisfied than men.
Among those who had scaled back their ambitions to attain more senior positions, both women and men cited job pressures, long hours, stress on relationships, and other work-life challenges as the main reasons for their decision.

A special section of the report on China, India, and Singapore explores and compares work-life experiences among respondents working in these different cultural and national contexts. While all respondents reported high levels of job focus and career ambition:

Indian respondents had the highest short- and long-term career aspirations: 98 percent said they hoped to advance to a higher-level position in the next five years, vs. 91 percent in China and 86 percent in Singapore. Seventy-eight percent in India said their long-term goal was to reach CEO or senior leadership positions, vs. 52 percent in China and 51 percent in Singapore.
In terms of work-life priorities: Women and men from China reported the highest level of job focus (75 percent). Respondents from India (27 percent) and Singapore (26 percent) were also more likely than other countries to have a dual work-family focus. Singapore had the highest percentage of respondents with a family focus (17 percent).
Respondents from China were less satisfied with the level of workplace flexibility than those in India and Singapore—57 percent in China said there’s enough flexibility, vs. 72 percent in India and 74 percent in Singapore.

To help companies further develop effective and localized work-life strategies, the report offers questions for consideration which include: What does work-life fit mean to your employees, and what kinds of work-life supports will be most helpful in your specific cultural context? What flexible programs are available in your organization? Do they align with cultural needs and norms? Do women and men at your organization have similar flexibility needs?

Research Partners:
BMO Financial Group, Chevron Corporation, Credit Suisse, Deloitte LLP, Desjardins Group, Deutsche Bank AG, Ernst & Young, Hewlett-Packard Company, IBM Corporation, KeyBank, McDonald’s Corporation, UPS

ABOUT CATALYST
Founded in 1962, Catalyst is the leading nonprofit membership organization expanding opportunities for women and business. With offices in the United States, Canada, Europe, and India, and more than 500 preeminent corporations as members, Catalyst is the trusted resource for research, information, and advice about women at work. Catalyst annually honors exemplary organizational initiatives that promote women's advancement with the Catalyst Award.

For Many Women and Men at Global Companies in India, Work-Life Fit Is a Mismatch

Wed, 16 May 2012 00:00:00 -0400

MUMBAI (May 16, 2012)--According to Catalyst’s latest study, Expanding Work-Life Perspectives: Talent Management in Asia, and its related report,Talent Management in India, there’s a mismatch between employees’ workplace flexibility needs and work-life programs at global companies in Asia: programs offered may not be the right fit regionally and, as a result, people may not feel comfortable using them.

The study explores the work-life perspectives of over 1,800 high-potential employees in countries throughout Asia, of which 226 were working in multi-national companies in India. It includes a section focusing on similarities and differences among respondents from India, China, and Singapore; separate in-depth reports on India, China and Singapore provide insights about high-potential women and men working in these three countries.

Specific to India, the Catalyst study finds that, regardless of gender, future leaders in India have high career aspirations and also value having a good fit between work and their personal lives. However, more Indian women than men feel that lack of workplace flexibility is a career obstacle.

“In India, women’s workforce participation is on the rise, and our research shows that women are just as ambitious as men,” said Ilene H. Lang, President & CEO, Catalyst. “But work-life challenges cause women to downsize their professional aspirations. The right work-life solutions improve a company’s ability to recruit, develop, and retain promising employees, enhancing workplace performance and strengthening the bottom line and competitive advantage.”

In India, over 25 percent of both men and women reported a dual focus of work and family—a figure higher than China, where there’s a higher focus on work, vs. Singapore, which had the highest number of respondents with a family focus. Other highlights from the in-depth report on India include:

Indian respondents had the highest short- and long-term career aspirations: 98 percent said they were hoping to advance to a higher-level position in the next five years and 78 percent said their long-term goal was to reach CEO or senior leadership positions.
Both men and women in India value work-life fit — 97 percent men and 95 percent women rate it as very important. However, women reported higher levels of difficulty in managing work-life demands while men were more likely to say that managing work and life was “easy” for them.
The analysis showed that for more than 80 percent of both women and men in India, the existing flexibility policies provided by their organizations did not meet their work-life needs.

Comparing India with China and Singapore, highlights include:

Respondents from China expressed the highest level of job focus (75 percent) while respondents from India (27 percent) and Singapore (26 percent) were more likely than other countries to have a dual work-family focus. Singapore had the highest percentage of respondents with a family focus (17 percent).
Women and men in India had the highest short- and long-term aspirations to advance further in their careers and to senior leadership roles: 78 percent of Indian respondents said their long-term goal was to reach CEO or senior leadership positions, vs. 52 percent in China and 51 percent in Singapore.
Respondents from China were less satisfied than those in India and Singapore with their level of workplace flexibility (57 percent said they had enough, vs. 72 in India and 74 in Singapore).
Interestingly, respondents in China (83 percent) were also less likely to rate work-life effectiveness as “very important” compared to India and Singapore (both 96 percent).

The report offers questions for companies to consider in developing localized work-life strategies for employees: What does work-life fit mean to your employees, and what kinds of work-life supports will be most helpful in this specific cultural context? What flexible programs are available in your organization? Do they align with cultural needs and norms? Do women and men at your organization have similar flexibility needs?

ABOUT THIS STUDY
Report findings were based on responses of 1,834 high-potential employees (44 percent women and 56 percent men) working in China, Hong Kong, India, Korea, Malaysia, Philippines, Singapore, Taiwan, and Thailand for U.S.- or European-based global organizations. The separate country profile on India draws from the larger sample to spotlight the experiences of more than 200 high-potential employees working for multinational companies in that country.

Catalyst Names Wipro IT Business CEO TK Kurien Chair of Catalyst India Advisory Board and Solidifies Expanding Presence in India Inc.

Mon, 30 Apr 2012 00:00:00 -0400

BANGALORE (April 30, 2012)--Catalyst, a global organization dedicated to expanding opportunities for women and business, has announced that TK Kurien, CEO - IT Business and Executive Director, Wipro Limited, will serve as chair of the Catalyst India Advisory Board. Celebrating its 50th anniversary globally this year, Catalyst is building on its presence in India, where vital economic growth and a significant influx of educated women are transforming markets and workforces and opening doors to new opportunities for working women.

Wipro, a leading global information technology company headquartered in India, and Pitney Bowes Inc., a global provider of customer communications technology, are Founding Supporters of Catalyst in India and have made important contributions to support Catalyst’s effort to accelerate the advancement of working women in corporate India.

Led by Mr. Kurien, the Catalyst India Advisory Board (CIAB) assembles respected business leaders at India-headquartered corporations and India subsidiaries of global multinationals aligned with Catalyst’s vision and goals, who will offer strategic counsel to further Catalyst’s mission in India’s dynamic marketplace.

“Business leaders in India seek to leverage female talent and leadership in their workforces and to do it in ways that respect local norms and cultures,” said Ilene H. Lang, President & CEO of Catalyst. “We’re honored to have the generous support and commitment of Wipro and Pitney Bowes, which will greatly accelerate our impact in India and help scale our operations to meet India’s global challenges and opportunities.”

“Wipro is proud to be a founding supporter of Catalyst India, and I am delighted to chair its India board of advisors,” said Mr. Kurien. “With its research expertise and global-local perspective, we believe Catalyst is uniquely positioned to support the work companies in India are already doing to develop women, tap their leadership potential, and create inclusive workspaces. Catalyst's mission strongly aligns with our values, and we are committed to supporting this effort.”

Murray D. Martin, Chairman, President and CEO of Pitney Bowes, noted, “For more than 60 years, diversity and inclusion have been recognized as business imperatives for us at Pitney Bowes. We have been working with Catalyst for over 20 years because its vision and advocacy for women and business mirrors our own passionate belief in leveraging the best talent to serve our markets. We are proud to join with respected market leader Wipro in supporting the expansion of Catalyst into India, one of the world’s fastest-growing centers of economic activity.” Today, two women are responsible for over 90 percent of Pitney Bowes’s revenue and earnings, and women comprise 25 percent of the company’s Board of Directors and 40 percent of its global workforce.

Marking its 50th anniversary in 2012, on April 30th in Bangalore, Catalyst and invited business leaders will celebrate at a special event, Celebrating Communities That Count. As part of the celebration, Ms. Lang will moderate a discussion with Mr. Kurien on “The Future of Leadership.” This celebration is one of several that Catalyst is holding in regions where it has a presence during its 50th anniversary year.

Catalyst Celebrates 50 Years of Advancing Women in the Workplace

Thu, 29 Mar 2012 00:00:00 -0400

NEW YORK (March 29, 2012) — Five decades of catalyzing change and still going strong! Tonight Catalyst celebrated a historic 50 years of trail-blazing leadership in expanding opportunities for women and business at its gala Catalyst Awards Dinner. Over 2,000 global business leaders, including over 100 CEOs, attended the Dinner, at which James S. Turley, Chair of Catalyst's Board of Directors and Chairman and CEO of Ernst & Young, presented the 2012 Catalyst Award to extraordinary initiatives advancing women in the workplace from Commonwealth Bank of Australia and Sodexo. The festivities took place at The Waldorf=Astoria in New York and began with a special two-day Catalyst Awards Conference yesterday and today. On Monday, Catalyst rang the closing bell of the New York Stock Exchange in honor of the 50th anniversary. Celebrations in Canada, Europe and India will follow throughout the year.

“Women are crucial to sustaining businesses, economies and society-at-large—we need their full participation as leaders,” said Ilene H. Lang, President and CEO, Catalyst. “Just as our Catalyst Award-winning initiatives inspire companies to action, each of us is a catalyst with the power to make change. As we mark Catalyst’s 50th anniversary, we invite women and men alike to recognize their place in our history and to become catalysts to expand opportunities for women and business.”

Founded in 1962 with the goal of helping women find part-time work, Catalyst has since grown into a global organization with offices on three continents and over 500 corporate members who share its vision of “Changing workplaces. Changing lives.” Women now comprise close to 50 percent of the workforce and over 50 percent of university and professional school graduates in many countries, but they still confront challenges to reaching business leadership positions. In its 50 years of work advancing women in the workplace, Catalyst has been instrumental in helping its members take steps to create cultures that value and reward talented women.

The 2012 Catalyst Award-winning initiatives honored at the Catalyst Awards Dinner share a laser-like focus on the business case for women's advancement and the competitive advantages of diverse leadership.

“The Commonwealth Bank of Australia is proud to win the 2012 Catalyst Award for its initiative on gender diversity and be recognized internationally as a leader in building a diverse and inclusive workplace,” said Ian Narev, Managing Director and CEO of Commonwealth Bank of Australia. “A broad base of skills and perspectives is imperative to our long-term success and we’re focusing on breaking down barriers, such as unconscious bias, to access the widest talent pool. We’re making steady progress toward our target of women representing 35 percent of our leadership by the end of 2014.”

“Sodexo is honored to receive the 2012 Catalyst Award, which recognizes and affirms the progress we have made through our multi-pronged diversity and inclusion strategy to advance all employees, particularly women and people of color,” said George Chavel, President and Chief Executive Officer of Sodexo North America. “This achievement was only possible thanks to the 125,000 employees of Sodexo whose individual and collective commitment to diversity and inclusion has changed how and why we do business, making Sodexo a stronger, more agile and admired company.”

On Wednesday and Thursday, over 600 business leaders and leaders of women’s organizations participated in the 2012 Catalyst Awards Conference and 50th anniversary celebration. Earlier in the day, a special luncheon session featured Denise Morrison, President & CEO, Campbell Soup Company, and Maggie Wilderotter, Chairman & CEO, Frontier Communications, the first pair of sisters to run Fortune 1000 companies, who shared insights on their careers as they spoke on Redefining the Mommy Track.

In addition to the Catalyst-Award-winning initiatives, topics discussed over the two-day Conference included the future of women and work; MARC (Men Advocating Real Change), Catalyst’s unique new online learning community for men; the equality initiative Get Even, co-led by Catalyst, The White House Project and the National Council for Research on Women; the portrayal of women in media with supermodel Emme, film producer Susan Cartsonis, Draftfcb Executive Vice President Mike Devlin, and INSEAD Professor of Organizational Behavior Herminia Ibarra; and creating workplaces inclusive of diverse women.

The Conference also featured an exhibit that explored Catalyst’s epic impact on women in the workplace over the past 50 years, how it will make change going forward, and the power of each person to be a catalyst of change.

The Coca-Cola Company and Walmart sponsored the 2012 Catalyst Awards Conference; PepsiCo, Inc., and Shell Oil Company sponsored the 2012 Catalyst Awards Dinner.

ABOUT THE CATALYST AWARD
The Catalyst Award annually honors innovative organizational approaches with proven, measurable results that address the recruitment, development, and advancement of all women, including diverse women. Catalyst’s rigorous, year-long examination of initiatives culminates in intensive on-site evaluations at select organizations. By recognizing, sharing, and celebrating successful initiatives, Catalyst provides models for creating initiatives that are good for women and good for business.

ABOUT COMMONWEALTH BANK OF AUSTRALIA
The Commonwealth Bank is Australia’s leading provider of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. The Commonwealth Bank Group is one of the largest listed companies on the Australian Stock Exchange and is included in the Morgan Stanley Capital Global Index.

ABOUT SODEXO
Sodexo is a world leader in Quality of Daily Life Solutions. Quality of Life plays an important role in the progress of individuals and the performance of organizations. Based on this conviction, Sodexo acts as the strategic partner for companies and institutions that place a premium on performance and employee well-being, as it has since Pierre Bellon founded the company in 1966. Sharing the same passion for service, Sodexo’s 391,000 employees in 80 countries design, manage and deliver an unrivaled array of On-site Service Solutions and Motivation Solutions. Sodexo has created a new form of service business that contributes to the fulfillment of its employees and the economic, social and environmental development of the communities, regions and countries in which it operates.

Catalyst Proposes 25% Women on FP500 Boards by 2017

Thu, 08 Mar 2012 00:00:00 -0500

TORONTO (March 8, 2012)—In a bold move that could transform the composition of Canada’s corporate boardrooms, Catalyst issues a call to action for Canadian corporations to increase the overall proportion of FP500 board seats held by women to 25 percent by 2017. Catalyst is initially supported in this initiative by RBC and Linamar Corporation, who have signed the Catalyst Accord.

The Catalyst Accord calls for participating companies to pledge to the agreed objective and submit interim goals to Catalyst, which will be kept confidential. To challenge the assumption that qualified women can’t be found and act on Catalyst research that shows the positive impact of sponsorship on women’s advancement, members of the Catalyst Canada Advisory Board will provide participating companies with a roster of board-ready women who they personally sponsor.

“The Catalyst Accord is more than a call to action—it closes the loop. At its core, it shows a highly focused commitment to increasing board diversity on the part of corporate Canada and it provides the tools to create that change,” said Deborah Gillis, Senior Vice President, Membership & Global Operations, Catalyst. “Not only can corporate Canada address this challenge, as other countries have done, but it can also demonstrate how much it prizes diversity—and smart business practices—by exercising leadership on this issue.”

The Catalyst Accord was created in response to the 2011 Catalyst Census: Financial Post 500 Women Board Directors, just released, which shows that the proportion of women on Canadian boards rose only half a percentage point between 2009 and 2011. Women currently hold just 14.5 percent of board seats in FP500 companies, and 10.3 percent in public companies, the report revealed. Additionally, nearly 40 percent of FP500 companies and over 46 percent of public FP500 companies have zero women serving on their boards.

“Increasing women on boards is good for business—simply put, it’s the smart thing to do,” said RBC President and CEO Gord Nixon. “RBC has five women on its board and I’ve seen firsthand how their skills, experiences, and perspectives enhance boardroom discussion, deliberation, and ultimately business results. We've seen how focus and a shared commitment to recruiting women with the right skills can drive positive change.”

“Linamar Corporation is dedicated to having a diverse workforce and enjoying the many benefits and strategic balance of such. We believe that we should target proportionate representation of our workforce at every level. That means ensuring the same levels of representation of women at every level of management in the company as we see women represented overall within our company. That level of representation should extend all the way to our Board of Directors,” said Linda S. Hasenfratz, CEO and Director, Linamar Corporation.

In addition to providing a list of board-ready women candidates, distributed upon request to the boards of companies that sign the Accord, Catalyst has committed to:

Continue publishing its biennial Catalyst Census: Financial Post 500 Women Board Directors, which identifies companies with 25 percent or more women board directors (as well as those with zero women).
Maintain a rolling list of participating companies on its website.
Recognize a champion of board diversity at The Catalyst Canada Honours on November 5, 2012, and annually thereafter.
Work with corporate search firms to develop a voluntary code of conduct for efforts to recruit qualified women.
Marshal the support of other organizations interested in increasing gender diversity on corporate boards.

“If every FP500 company commits to filling a vacant board seat with one qualified woman, we can easily achieve at least 25 percent representation by 2017,” said Ms. Gillis. “Given the strong business case supporting gender diversity on corporate boards and the global trend to advance women to corporate boardrooms, we are confident that Canadian companies will harness the power of talented women leaders and seize this opportunity to lead and win.”

ABOUT CATALYST
Founded in 1962, Catalyst is the leading nonprofit membership organization expanding opportunities for women and business. With offices in the United States, Canada, Europe, and India, and more than 500 preeminent corporations as members, Catalyst is the trusted resource for research, information, and advice about women at work. Catalyst annually honors exemplary organizational initiatives that promote women's advancement with the Catalyst Award.

Catalyst : objectif de 25 % de femmes au sein des conseils d’administration des sociétés de la liste FP500 d’ici 2017

Thu, 08 Mar 2012 00:00:00 -0500

TORONTO (le 8 mars 2012)— Posant un geste audacieux qui pourrait transformer la composition des conseils d’administration au Canada, Catalyst lance aux sociétés canadiennes un appel à l’action en vue de porter la proportion des sièges occupés par des femmes à 25 % d’ici 2017. Catalyst est soutenue, dans cette initiative, notamment par la RBC et Linamar Corporation, qui ont adhéré à l’Accord Catalyst.

L’Accord Catalyst invite les sociétés qui y adhèrent à s’engager à atteindre l’objectif convenu et à soumettre à Catalyst des objectifs intérimaires qui seront tenus confidentiels. Pour contrer l’hypothèse selon laquelle il est impossible de trouver des femmes qualifiées et pour mettre en application les conclusions de la recherche de Catalyst qui démontrent l’impact positif du parrainage sur l’avancement des femmes, des membres du Conseil consultatif de Catalyst fourniront aux sociétés adhérentes une liste de femmes aptes à pourvoir des sièges au sein de conseils d’administration, qu’ils parraineront personnellement.

« L’Accord Catalyst constitue plus qu’un appel à l’action – il boucle la boucle. Il repose sur un engagement concret de la part du monde canadien des affaires d’augmenter la diversité des conseils d’administration et il fournit les outils pour procéder au changement », a déclaré Deborah Gillis, vice-présidente principale, Services aux membres et Opérations internationales, auprès de Catalyst. « Le monde canadien des affaires est non seulement en mesure de relever ce défi, comme l’ont fait d’autres pays, mais il peut également démontrer son engagement envers la diversité – et les bonnes pratiques d’affaires – en exerçant un leadership à cet égard».

L’Accord Catalyst a été créé suite à la récente publication de l’Enquête Catalyst 2011 : Les femmes membres de conseils d’administration selon le classement Financial Post 500, selon laquelle la représentativité des femmes au sein des conseils d’administration canadiens n’a augmenté que de 0,5 pour cent entre 2009 et 2011. Selon cette enquête, les femmes n’occupent présentement que 14,5 pour cent des sièges au sein des conseils d’administration des sociétés de la liste FP500, et seulement 10,3 pour cent au sein des conseils des sociétés publiques de cette même liste. De plus, près de 40 pour cent des 500 sociétés classées par le Financial Post, et près de 46 pour cent des sociétés publiques de ce même classement, ne comptent aucune femme au sein de leur conseil d’administration.

« Augmenter la participation des femmes au sein des conseils d’administration est excellente pour les résultats d’affaires – en termes simples, c’est la meilleure chose à faire », a souligné Gord Nixon, président et chef de la direction de la RBC. « La RBC compte cinq femmes au sein de son conseil d’administration et je me suis trouvé aux premières loges pour constater à quel point leurs compétences, leurs expériences et leurs perspectives enrichissent les discussions et les débats au sein du conseil d’administration, et en bout de ligne, les résultats d’affaires. Nous avons pu constater à quel point une attention et un engagement communs, en vue du recrutement de femmes possédant les bonnes compétences, peuvent engendrer un changement positif ».

« Linamar Corporation se consacre à avoir des effectifs diversifiés et bénéficie des nombreux avantages et de l'équilibre stratégique que cela apporte. Nous croyons que nous devons cibler une représentation proportionnelle de notre personnel, et ce, à tous les niveaux. Comme les femmes sont déjà bien représentées dans la compagnie, cette même proportion devrait s'étendre également à notre conseil d'administration », a déclarée Linda S. Hasenfratz, chef de la direction et directrice de Linamar Corporation.

En plus de dresser une liste de femmes aptes à pourvoir les sièges de conseils d’administration, laquelle sera accessible sur demande à toute société qui adhère à l’Accord, Catalyst s’engage à :

• Continuer à publier l’enquête bisannuelle intitulée Enquête Catalyst : Les femmes membres de conseils d’administration selon le classement Financial Post 500, qui identifie les sociétés qui comptent 25 pour cent ou plus de femmes au sein de leur conseil d’administration (de même que celles qui n’en comptent aucune).
• Mettre à jour la liste des sociétés adhérentes sur le site Web.
• Créer une catégorie « Champion de la diversité au sein des conseils d’administration », dans le cadre des Prix honorifiques de Catalyst Canada (The Catalyst Canada Honours), dont la remise se tiendra le 5 novembre 2012. Cette catégorie sera maintenue lors des années suivantes.
• Collaborer avec des firmes de recherche corporative en vue de développer un code de conduite relativement à la recherche de femmes qui sont aptes à pourvoir les sièges de conseils d’administration.
• Obtenir le soutien d’autres organisations qui reconnaissent l’importance d’augmenter la diversité au sein des conseils d’administration.

« Si chacune des sociétés du classement FP500 s’engage à combler un siège vacant de son conseil d’administration avec une femme qualifiée, nous pourrons facilement atteindre une représentativité d’au moins 25 pour cent d’ici 2017 », a souligné Mme Gillis. « Compte tenu de l’analyse solide de rentabilité qui appuie les avantages de la diversité des sexes au sein des conseils d’administration et la tendance mondiale de l’avancement des femmes vers les conseils d’administration, nous sommes sûrs que les sociétés canadiennes mettront à profit le talent de femmes dirigeantes d’entreprises et qu’elles sauront saisiront l’occasion qui leur est offerte d’agir à titre de leaders et de relever le défi».

Pour de plus amples renseignements, veuillez consulter le site www.catalyst.org. Les médias sont priés d’adresser leurs demandes à Ariane Tremblay au 514-861-1330 ou atremblay@girafe-communications.com; ou à Susan Nierenberg au 646-388-7744 ou snierenberg@catalyst.org.

À PROPOS DE CATALYST
Fondé en 1962, Catalyst est la plus grande association sans but lucratif consacrée à l’avancement des femmes et des affaires. Avec des bureaux aux États-Unis, au Canada, en Europe, et en Inde, et plus de 500 sociétés membres de premier plan, Catalyst est une source reconnue de recherche, d’information et de conseil sur les femmes en milieu du travail. Chaque année, Catalyst récompense des initiatives d’entreprises hors du commun qui font la promotion de l’avancement des femmes en décernant les prix Catalyst.

Catalyst Honors Initiatives at Commonwealth Bank of Australia and Sodexo with the 2012 Catalyst Award

Tue, 24 Jan 2012 00:00:00 -0500

NEW YORK (January 24, 2012)—Catalyst announces that initiatives from Commonwealth Bank of Australia and Sodexo are the recipients of the 2012 Catalyst Award. Catalyst will honor these groundbreaking initiatives at its 50th anniversary celebration, beginning with a special two-day conference on Wednesday, March 28, 2012, and Thursday, March 29, 2012, and culminating with the gala Catalyst Awards Dinner on the evening of March 29. This anniversary represents a significant milestone: Catalyst’s 50 years of leadership to expand opportunities for women and business.

“This year’s 50th anniversary celebration recognizes Catalyst’s unique contribution to women’s progress in the workplace over the last five decades and anticipates the positive impact women’s leadership will have on the world in decades to come,” said Ilene H. Lang, President and Chief Executive Officer of Catalyst. “The pioneering initiatives we honor with the Catalyst Award affect businesses and employees’ lives, but their influence also extends beyond corporate walls to families, communities, and economies worldwide. Clearly, what’s good for women is good for men, business, and society.”

James S. Turley, Chairman and CEO of Ernst & Young LLP and Chairman of the Catalyst Board of Directors, will chair the Dinner. The CEOs of many leading global organizations and more than 2,000 corporate leaders will be in attendance. The festivities will take place at The Waldorf=Astoria in New York.

Since 1987, Catalyst has honored exceptional business initiatives that advance women in the workplace with the Catalyst Award, which embodies Catalyst’s vision of “Changing workplaces. Changing lives.” This year’s Award-winning initiatives share a laser-like focus on the business case for women’s advancement and include:

A cutting-edge initiative from one of Australia’s largest financial services organizations, which has transformed its culture and provides many opportunities for its women and diverse employees to excel.
A strategic initiative from a food and facilities management services company that advances employees, including women, and clients through multi-pronged diversity and inclusion strategies.

Commonwealth Bank of Australia (CBA)’s initiative, Opening the Door for Gender Diversity, seeks to increase the number of women in senior leadership positions through a variety of strategies and programs aimed at breaking down barriers women and diverse populations often face in the workplace. Unique programs include mandatory and in-depth unconscious bias training for all senior leaders, a rigorous talent review process, and a progressive approach to building a flexible workplace. Because of CBA’s strong support for flexibility, the proportion of employees who state they work flexibly (formally and informally) has increased from 35 percent in 2008 to 41 percent in 2011. Strong metrics and results reinforce the power of this initiative; women’s representation in executive manager and above roles has increased from 21 percent in 2005 to 29 percent in 2011, and the percentage of women on the board of directors also increased from 20 percent to 27 percent.

Sodexo’s initiative, Making Every Day Count: Driving Business Success Through the Employee Experience, is a systemic strategy to provide the tools, resources, and support necessary to ensure success of all employees, including women. A host of professional development programs present opportunities to share diversity lessons with staff and clients, provide training to different employee populations, and develop connections through strategic networking and robust mentoring. For example, Sodexo’s IMPACT mentoring program, which connects employees across client sites, has resulted in a demonstrable improvement in women’s careers: 30 percent of women who participated in IMPACT received a promotion. The strategic nature of this initiative has led to strong results; from 2003 to 2010, women’s share of positions in the executive pipeline increased from 23 percent to 33 percent, with racially/ethnically diverse women’s share increasing from 6 percent to 9 percent.

The prestige of winning the Catalyst Award, rooted in its rigorous criteria and year-long evaluation process, continues to grow. The Award-winning initiatives are assessed against a robust set of criteria, including business rationale, senior leadership support, accountability, communication, employee engagement, innovation, and measurable results.

Catalyst believes that showcasing best-in-class initiatives is vital to women’s progress in the corporate world. This year’s Award-winning initiatives provide valuable models for companies wishing to transform society, increase sustainability, and potentially improve their bottom lines by creating opportunities for women to advance. This year’s Catalyst Awards Conference is sponsored by The Coca-Cola Company and Walmart; this year’s Dinner is sponsored by PepsiCo, Inc. and Shell Oil Company.

ABOUT COMMONWEALTH BANK OF AUSTRALIA
The Commonwealth Bank is Australia’s leading provider of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. The Commonwealth Bank Group is one of the largest listed companies on the Australian Stock Exchange and is included in the Morgan Stanley Capital Global Index.

The Commonwealth Bank brand is the most recognised brand in the Australian financial services industry, with the largest customer base of any Australian bank. The business is established in Australia, New Zealand, Europe and Asia-Pacific region.

With over 52,000 people in the Group and the largest financial services distribution network in Australia, the Group shares a vision to be Australia’s finest financial services organization through excelling in customer service.

ABOUT SODEXO
Sodexo is a world leader in Quality of Daily Life Solutions. Quality of Life plays an important role in the progress of individuals and the performance of organizations. Based on this conviction, Sodexo acts as the strategic partner for companies and institutions that place a premium on performance and employee well-being, as it has since Pierre Bellon founded the company in 1966. Sharing the same passion for service, Sodexo’s 391,000 employees in 80 countries design, manage and deliver an unrivaled array of On-site Service Solutions and Motivation Solutions. Sodexo has created a new form of service business that contributes to the fulfillment of its employees and the economic, social and environmental development of the communities, regions and countries in which it operates.

No News Is Bad News: Women's Leadership Still Stalled in Corporate America

Wed, 14 Dec 2011 00:00:00 -0500

NEW YORK (December 14, 2011)―No news is usually good news, but not when it comes to leadership opportunities for women in corporate America. According to the 2011 Catalyst Census: Fortune 500 Women Board Directors, Executive Officers and Top Earners and prior Catalyst Censuses, women have made no significant gains in the last year and are no further along the corporate ladder than they were six years ago:

Women held 16.1% of board seats in 2011, compared to 15.7% in 2010.
Less than one-fifth of companies had 25% or more women board directors.
About one in ten companies had no women serving on their boards.
Women of color still held only 3% of corporate board seats.
Women held 14.1% of Executive Officer positions in 2011, compared to 14.4% in 2010.
Women held only 7.5% of Executive Officer top-earner positions in 2011, while men accounted for 92.5% of top earners.
Less than one in five companies had 25% or more women Executive Officers and more than one-quarter had zero.

Another new Catalyst release, The Bottom Line: Corporate Performance and Women’s Representation on Boards (2004–2008), indicates that sustained gender diversity in the boardroom correlates with better corporate performance―and not by just a little. Companies with three or more women board directors in four of five years, on average, outperformed companies with zero women board directors―by 84% return on sales, 60% return on invested capital, and 46% return on equity.

“Companies have much to gain by defying assumptions and taking action to advance talented women. In light of yet another Catalyst study demonstrating the powerful correlation between increased women’s leadership and better business performance, continued obstacles to progress make no sense,” said Ilene H. Lang, President & CEO, Catalyst.

Prior Catalyst research also reveals that advancing women to leadership positions is good for women and good for business:

Catalyst believes that companies have a unique opportunity to enable talented women to advance and contribute. Suggested steps include:

Setting business targets with accountability―demographics demand, and businesses can potentially profit from, women’s leadership.
Asking if the skills, knowledge, and experience of employees are evaluated differently depending on a candidate's gender―Catalyst research shows that men reap the benefits of certain career advancement strategies, while women do not. Catalyst research reveals that women MBAs start at lower positions and salaries and do not catch up to their male colleagues, which disadvantages them and their employers. Catalyst research also shows that women don’t receive the sponsorship of highly influential individuals, which our research indicates is critical for advancement.
Checking if the “think-leader-think-male” default is still alive and well―Catalyst research has demonstrated that gender-based stereotyping is embedded (often unintentionally) in the very talent management systems designed to cultivate an organization’s best talent.
Determining whether persistent myths are still in play. For example, Catalyst research shows that women do not prefer a slower track and that they do use career advancement strategies similar to those employed by men, yet they don’t get the same payoff.

“It’s what companies do—beyond commitment—that counts,” added Ms. Lang. “Particularly in today’s challenging economy, staying competitive in an increasingly global marketplace requires cultivating fresh perspectives and you don’t get that by perpetuating an ‘all of the same’ leadership model. Catalyst encourages organizations to step up and ensure that talented employees—regardless of gender—have opportunities to advance and contribute. It’s the smart thing and the right thing to do.”

ABOUT CATALYST 
Founded in 1962, Catalyst is the leading nonprofit membership organization expanding opportunities for women and business. With offices in the United States, Canada, Europe, and India, and more than 500 preeminent corporations as members, Catalyst is the trusted resource for research, information, and advice about women at work. Catalyst annually honors exemplary organizational initiatives that promote women's advancement with the Catalyst Award.

Catalyst Information Center Honored by Special Libraries Association as a Center of Excellence

Thu, 17 Nov 2011 00:00:00 -0500

NEW YORK (November 17, 2011) –The Catalyst Information Center (IC) is proud to be this year’s winner of the Special Libraries Association’s (SLA’s) tenth annual Centers of Excellence Award from the SLA’s Business & Finance Division in the Service Category. Catalyst is honored that its exceptional and dynamic Information Center has received such a prestigious award.

“Catalyst has set the global gold standard for providing accurate, up-to-date information and cutting-edge research on women and business to our 500-plus global members, as well as to media and experts worldwide,” said Jan Combopiano, Vice President and Chief Knowledge Officer. “Given the complex nature of the requests, Catalyst’s IC does not merely suggest where an answer might be found; our comprehensive services help the requestor reframe the question and zero in on the answer most relevant to their goals and organization.”

The IC was recognized for its outstanding customer-focused services, which emphasize fast, frequent delivery of crucial information, and contribute to Catalyst’s reputation as an indispensable resource. Some of the qualities for which Catalyst’s Information Center was specifically honored include:

Leadership. Each member of the IC plays a vital role, and its daily operations are effectively and efficiently managed by a virtual worker.
Strategic Planning. The IC is expanding its focus globally and enhancing its outreach with exciting new opportunities to serve Catalyst members worldwide.
Customer/User Focus. The IC is leading the way in ensuring that its products are user-friendly and its staff able to provide comprehensive and timely answers to a variety of requests.
Information and Analysis. The IC tracks its requests and the efficiency with which they’re handled, and analyzes the topics to guide product and service development.
Human Resources Focus. The IC is especially focused on acquiring, retaining, and advancing top talent.
Process Management. Collaboration is built into the IC’s request response system to ensure efficiency and hierarchy of service, as well as to categorize typology of request.
Service Results. The IC’s customers are consistently enthusiastic about its services.

The Centers of Excellence Awards were initiated by the SLA’s Business & Finance Division in 2001. The purpose of the COE Awards is to recognize the very best in library and information practices and highlight such practices for the benefit of organizations seeking to strengthen their own information services.

The Catalyst IC received this special honor on June 13, 2011. Previous COE Awards winners include the Verizon Information Research Network, The Science, Industry & Business Library of The New York Public Library, and National Geographic Society's Libraries and Information Services.

New Catalyst Study Links More Women Leaders to Greater Corporate Social Responsibility

Wed, 16 Nov 2011 00:00:00 -0500

NEW YORK (November 16, 2011) — A new study conducted by researchers at Catalyst and Harvard Business School (HBS) suggests that what’s good for women is good for business and also for society as a whole. According to Gender and Corporate Social Responsibility: It’s a Matter of Sustainability, companies with more women at the top may be better practitioners of corporate social responsibility (CSR). Prior Catalyst research has shown that such companies also financially outperform, on average, those with fewer women in senior leadership roles.

“Companies are realizing that advancing more women to senior leadership roles has many benefits, including increased financial performance and sustainability,” said Anabel Pérez, Senior Vice President, Development, Catalyst. “As this study shows, inclusive leadership has a positive influence on the quantity and quality of an organization’s CSR initiatives. When business leadership includes women, society wins.”

Catalyst and HBS researchers found that companies with more women board directors and corporate officers contributed significantly more charitable funds, on average, than companies with fewer or no women in senior roles:

In 2007, the average donations of companies with three or more women directors were 28 times higher than those of companies with no women directors.
Between 1997 and 2007, companies with more women board directors donated significantly more funds than did companies with fewer women—with each additional woman board director representing an increase of 2.3 million dollars.
Companies with 25% or more women corporate officers in 2007 made annual contributions that were 13 times higher than those made by companies with zero women corporate officers.
Companies with more women corporate officers donated significantly more funds between 1997 and 2007, and for each percentage point increase in women corporate officers, yearly donations increased by 5.7 million dollars.

These higher contribution levels are demonstrably linked to having more women in senior leadership roles, not merely to the size of a company’s budget:

Controlling for key factors that might influence donation levels, such as a company’s overall financial performance, size, and industry, the presence of women leaders still had a significant positive impact on a company’s levels of giving.
Studies have shown that women leaders may bring diverse perspectives on fairness and the distribution of resources to donation decisions, which may in turn broaden a company’s commitment to CSR and increase its levels of charitable giving.

This study also indicates that companies with more women leaders are not only more committed, on average, to corporate social responsibility—they may also be better at it, in the sense that such companies are likely to develop higher-quality CSR initiatives. Leaders who highlight gender issues in CSR strategies often position their organizations for sustained growth—a payoff that extends from the company to communities and to broader society.