WASHINGTON – October 24, 2017 – Paradigm for Parity® founding member Candace Duncan testified today at a Congressional Hearing on the Paradigm for Parity® 5-Point Action plan that companies can follow to achieve parity in corporate leadership. Hosted by Representatives Don Beyer (D-VA) and Carolyn Maloney (D-NY), the discussion focused on the need to level the playing field for women in the business world.
In her remarks, Candace Duncan said: “Gender parity is an essential investment for any business. Having people with diverse backgrounds and experiences in the room – whether it’s in the C-suite or in a conference room – achieves the best results. Paradigm for Parity is pleased to give companies an actionable roadmap to help advance women and close the gap.” Click here to view Candace’s full remarks.
Recent research from McKinsey and LeanIn.Org revealed that women continue to be significantly underrepresented in the corporate world – with women representing only 20 percent of C-suite executives, 21 percent of senior vice presidents, 29 percent of vice presidents and 33 percent of senior managers/directors.
To close the gap, Paradigm for Parity® created a 5-Point Action Plan, which defines bold and specific actions that, taken together and simultaneously implemented as a package, will catalyze change and enable today’s business executives to secure the best leaders of tomorrow. The five points are:
- Eliminate or minimize unconscious bias in the workplace;
- Significantly increase the number of women in senior operating roles, with the near-term goal of at least 30% representation in all leadership groups;
- Measure targets and maintain accountability by providing regular progress reports;
- Base career progress on business results and performance, rather than physical presence in the office; and
- Provide sponsors, not just mentors, to women well positioned for long term success.
To date, 59 companies have signed on to follow the action plan and make parity a reality: 72andSunny, Accenture, Adecco Group, ALOM, American Electric Power, Anthem, Inc., APCO Worldwide, Association of Latino Professionals for America (ALPFA), AstraZeneca, Bank of America, Bloomberg, Broadway Angels, Burson Marsteller, Cargill, Co: Collective, Coca-Cola, DSC Logistics, Eastman Chemical Company, Edison International, Egon Zehnder, Ernst & Young, Equinix, Farient Advisors, First Source, LLC, Frontier Communications, HealthHelp, Heidrick & Struggles, Hershey, Huffington Post, Ingersoll Rand, KeyCorp, Lieberman Research Worldwide, Linkage, LinkedIn, Manpower Group, MassMutual, McKinsey & Company, Meredith Corporation, MetricStream, Monsanto, NeoGenomics, Newmont Mining Corp., Nordstrom, Out & Equal, The Perkins Fund, Principal, Project Glimmer, Red Robin Gourmet Burgers, SAP, Skillsoft, Spencer Stuart, Synchrony Financial, TDIndustries, Inc., Thrive Global, United Technologies, VF Corporation, Voya Financial, Wal-Mart and Willis Towers Watson.
About the Paradigm for Parity® Movement
The Paradigm for Parity® coalition is composed of CEOs, senior executives, founders, board members and business academics who are committed to achieving a new norm in corporate leadership: one in which women and men have equal power, status, and opportunity.
The coalition created the Paradigm for Parity® 5-Point Action Plan for corporations to accelerate the pace of gender equity in senior executive roles. This unique agenda defines bold and specific actions that, taken together and simultaneously implemented as a package, will catalyze change and enable today’s business executives to secure the best leaders of tomorrow. Visit www.paradigm4parity.com or follow us on Twitter using @p4parity to learn more about this exciting initiative.