Significant progress has been made by Catalyst, the global not-for-profit organisation founded in 1962 that focuses on helping to build workplaces that work for women. Its initiative Catalyst CEO Champions for Change, which gets CEOs to pledge to advance more women into senior leadership positions and onto their boards, has now been proven to be making tangible progress.
A newly published report into the scheme, Progress In Action: Catalyst CEO Champions For Change, found that over five years companies — representing more than 10 million employees and over $3 trillion (£2.28 trillion) in revenue globally — improved their representation metrics in top leadership positions and throughout the pipeline for all women.
Between 2013 and 2018, women’s representation on the boards of Catalyst CEO Champions For Change companies rose from 22.6% to 30.7%. Among executives, women’s representation grew from 22.5% to 25.1% and among senior managers, women’s representation increased from 26.4% to 29%. Representation of women of colour on boards increased from 3.8% to 5.2% over the same period.
Collectively, the Catalyst CEO Champions For Change companies outpaced their global peers in representation of women across the leadership pipeline in 2018, with more women board directors, executives, senior managers, and managers.
“We are living in a time where people expect the business community to reflect what society looks like, yet we are still far from gender equality in the workforce,” said Catalyst President and CEO Lorraine Hariton. “The Catalyst CEO Champions For Change have taken concrete steps to create change for women and women of colour in the workplace. These leaders exemplify the immense power of action, and we are proud and honoured to be working alongside them.”
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