Gender diversity. If you haven’t heard this buzz term yet, it is hot on the trails of becoming a workplace norm.
Gender diversity is the fair representation of genders.
In effect, diverse groups with contrasting backgrounds, education, and experiences heed greater solutions to complex issues.
In this case, the focus lies heavily on female representation in the workplace.
Gender diversity is not a new concept. It’s taken form in several different social justice movements like the equal pay movement and the suffrage movement.
In other words, gender diversity continues to evolve as social movements occur in the name of equality.
What Does Gender Diversity Look Like in the Workplace?
Gender diversity is championed by several grassroots organizations that have relentlessly campaigned for equal representation. Nevertheless, a vocal institution—McKinsey & Company, a company dedicated to creating change that matters—reports that change is slow if present at all.
In recent decades, women have earned more bachelor’s degrees than men and are asking for promotions at the same rate as their counterpart, Mckinsey & Company reports. However, McKinsey has found that the proportion of women at every level in corporate America has barely changed between 2015 and 2018 (years the organization conducted the study).
With this in mind, McKinsey & Company states that companies should treat gender diversity as a business priority.
The report estimates that only 38% of companies set targets for gender representation. These companies have set strict protocols to increase equality in the workplace.
BestCompaniesAZ recognizes these best companies for women in the workplace working towards gender diversity at all levels of business. Check them out!
- Charles Schwab
- Quicken Loans
- Silicon Valley Bank
- Voya Financial
- World Wide Technology
Best Companies for Women
ADP believes the best ideas thrive in an inclusive environment that values diverse perspectives. That’s why they made it the cornerstone of their one-of-a-kind culture.
Women make up more than 50 percent of the workforce at ADP.
This commitment provides an environment that empowers working mothers to advance and succeed through mentoring, networking opportunities, workplace flexibility, and an inclusive culture. ADP is proud to have been named to the “Working Mother 100 Best Companies” list numerous times. ADP recognizes the challenges families face in managing work life balance and value their associates’ priorities. Additionally, ADP’s annual Women in Leadership events bring together female executives from ADP offices around the world. The multi-day forum includes prominent speakers on the topics of leadership, personal development and social responsibility.
You don’t have to look far to understand why Quicken Loans appears on the best companies for women list! Above all, Quicken Loans is America’s largest mortgage lending company, servicing clients across the nation. Clients recognize the FinTech company for its use of cutting-edge technology to provide valuable finance solutions. This care for client satisfaction extends beyond ‘business as usual’ and into the workplace.
Quicken Loans boasts a number of innovative programs and benefits to support working women and mothers in the workplace. For example, recently, the finance company sponsored the 2018 Rock FOC Women’s Conference titled “Changing the Game.” Overall, the conference gathered women of diverse backgrounds to promote innovation and leadership values. This is only one example of Quicken Loans’ dedication to empowering women in the workforce; nevertheless, their long list of achievements shows that they are not slowing down any time soon.
In addition, Quicken Loans has received several accolades for its dedication to diversity and marginalized groups. After all, employees produce their best work when they feel valued and respected.
Silicon Valley Bank
Silicon Valley Bank is a champion for client success within the financial industry. For more than 35 years, SVB has helped businesses achieve their dreams across the innovation economy. By and large, SVB leadership recognizes the important role that employee success plays when serving their clients.
SVB has taken ownership of the organization’s social responsibility in supporting industry groups and diversity and inclusion initiatives. Specifically, the organization takes a multifaceted approach to create a gender-inclusive work environment. The factors that make up this approach are regular employee training, such as the company’s Access to Innovation program. This program works toward gender parity by providing development opportunities and making connections for female and minority founders and investors.
Another example of SVB’s efforts in furthering gender diversity is the company’s executive-led Inclusion and Diversity Steering Committee, which oversees the company’s progress towards diverse initiatives. Employees are also encouraged to speak their minds on how the company can continue to improve their culture’s diversity.
Voya Financial is at the forefront of the companies seeking to advance women’s equality in the workplace. The Bloomberg Gender-Equality Index (GEI) recognized the investment management company in 2019. Organizations receive this distinction for transparent gender reporting and implementing programs dedicated to advancing female equality. Namely, Voya’s dedication to women in finance and leadership has catapulted the company to the top.
To elaborate, Voya Financial reported that forty percent of Voya’s board of directors are women in 2019. In addition, half of the members of Voya’s Executive Committee are women. With this in mind, it is no surprise that former Voya CEO Maliz Beams was proclaimed American Banker’s Most Powerful Women in Finance for multiple years.
Overall, Voya Financial has set the standard for female representation in leadership roles in the finance industry.
The campaign for gender diversity in the office is far from over! Nevertheless, strong advances are being made to ensure equal representation in the workplace and C-suite. Stay up-to-date with these advances and more with BestCompaniesAZ. BestCompaniesAZ is your exhaustive resource for job hunting tips, interview prep guides, and more!
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(Originally published August 2019, Updated September 2020).