“we pledge shared advocacy and celebration of individual ... · • we recognize the greatness of...

1AUGUST 2019

“We pledge shared advocacy and celebration of individual and collective effots by all to accelerate equal representation of women

- especially women of color - in the C-Suite and Boardroom”

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WBC LEADERSHIPFOUNDING PARTNER ORGANIZATIONS*2020 Women on Boards

ATHENA International

C200

Catalyst

Diversity Best Practices

Diversity Woman Media

Enterprising Women Magazine

Golden Seeds Venture

Hispanic IT Executive Council (HITEC)

Information Technology Senior Management Forum (ITSMF)

LATINAStyle

Latino Corporate Directors Association

National Association for Female Executives

National Association of Corporate Directors

Paradigm for Parity

theBoardList

The Executive Leadership Council

Thirty Percent Coalition

U.S. 30% Club

Watermark

Women Corporate Directors

Women in the Boardroom

Women Presidents’ Organization

WOMEN Unlimited

Women’s Forum of New York

Working Mother Media

Bloomberg’s Gender Equality Index (Resource Partner)

BOARD OF DIRECTORS*Crystal E. Ashby | Vice ChairThe Executive Leadership Council

Lynne Born, Chief Executive OfficerPerelson Weiner LLP

Linda C. Coughlin | Founder and CEOGreat Circle Associates

Edie Fraser | Chief Executive OfficerWomen Business Collaborative

Balaji Ganapathy | Head of Workforce EffectivenessTata Consultancy Services

Lisa R. Jacobs, Esq. | PartnerDLA Piper LLP

Alexandra Jung | Senior AdvisorOak Hill Advisors

Sherrie Litttlejohn | Founder, President & CEOLittlejohn Leadership Coaching and Consulting

Viola Maxwell-Thompson | President & CEOInformation Technology Senior Management Forum

Michael Norris | Chief Executive Officer, North AmericaUrban Adventures

Robert Reiss | Founder & CEOThe CEO Forum Group

Leigh Wasson | Senior Wealth DirectorBNY Mellon Wealth Management

STAFF / CONSULTANTSEdie FraserChief Executive [email protected] | 202-296-5222

Monique FrayExecutive [email protected] | 202-296-5222

Lorena FimbresDirector, Strategic Programs & [email protected] | 202-604-8591

Dr. Kim R. GrimesDirector, Projects & [email protected] | 757-897-8964

Melissa PeakChair, Advisory [email protected] | 571-208-5642

Yadira Harrison / Shannon JonesCo-Founders, [email protected] / [email protected]

Holly Sydnor / Sara ThomasCo-Founders, All Women [email protected] / [email protected]

LEADERSHIP COUNCIL*Marc AlbertAngela BergMichael BrodieElizabeth CooperVelma Deleveaux Margery Dick StuartAngela GetterKimberley Goode Donna Hager

ADVISORY BOARD*Dr. Rohini Anand, (Sodexo)Susie CarderMonaLisa ComoColleen PayneMelissa PeakDenielle Pemberton-Heard

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Muneezeh Kabir Julie KantorTanya KrochtaGerri Mason-HallMargaret MilkintJo OusterhoutCarol PenskyIlene RosenthalHolly Sydnor

Terese TaylorSara ThomasMary Tinebra Leticia Velez Maria VelissariouJean WangJackie WynnCarol Zacharias

Susan Stith, (Cigna)Dawn SweeneyLezlie WestineMarlene WilliamsonKip Wright (Genuent)

*As of August, 2019

FOUNDING SPONSORDiversified Search

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ABOUTWBC

WHO WE ARE

The Women Business Collaborative (WBC) is an unprecedented alliance of women’s business organizations, corporations, trade associations, researchers and the media accelerating…

• The advancement of diverse female representation in C-Suites and boardrooms

• The achievement of gender diversity and parity in the workplace• The growth of women-owned businesses and their access to sources of

capital

WBC is an “accelerator” organization. We are dedicated to building a movement to rapidly change the numbers. #WBCFasterTogether.

BACKGROUND

The number of organizations dedicated to advancing gender and diversity in C-Suites and boardrooms has proliferated. Each has a distinct mission and value proposition, but all are aligned with the goals of WBC. Despite the work of the many pioneering organizations, it has been estimated that at the current rate of growth, it will take decades to achieve results.

Women Business Collaborative was therefore created to take action together; inform, educate, advocate for and celebrate the full partnership of diverse men and women leaders. We leverage one another’s strategic priorities and core competencies to drive the numbers up.

WHAT WE DO TO ADVANCE OUR AGENDA FOR CHANGE

• CONNECT: We share like-minded organizations’ best practices, strategies and results to drive the advancement of female leaders in business and to achieve gender and diversity parity along the way

• COLLABORATE: We engage and convene organizations to achieve accelerated results

• AGGREGATE: We leverage resources and build unity

• COMMUNICATE: We use every vehicle possible to spread information and results

• CELEBRATE: We tell the stories and share actions and outcomes

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OURCOREVALUES

PASSION FOR CHALLENGING THE STATUS QUO

• We create a transformational view of the future that motivates all to move faster together

• We galvanize to accelerate the pace at which women are elevated to CEOs, into C-Suites, to boards, as successful entrepreneurs and in seeking sources of venture capital

• We challenge organizations and institutions to move the numbers more quickly, and we salute their successes

COLLABORATION

• We believe in leaders serving leaders, sharing the ownership of collective results

• We work with one another with passion, enthusiasm, appreciation and mutual support

• We know to our core that the work of the whole can be greater than the sum of the parts

GENDER PARITY

• We drive to the achievement of full gender parity in the workplace

• We fervently believe in the power of the full partnership of men and women leaders toward the optimization of business and organization performance

• We celebrate venture capital leaders and their organizations that provide access to capital to diverse women entrepreneurs on the way to scaling their businesses

• We salute enlightened men and women leaders who are forging the way to gender parity

THE POWER OF DIVERSITY

• We insist on the acceleration of diverse female representation into C-Suites and boardrooms

• We engage organizations to drive diversity and inclusion results

• We recognize the greatness of initiatives that build leadership among women of color

CELEBRATION

• We honor the success of women -- especially women of color -- as high impact leaders

• We shout when the numbers of diverse women as CEOs, and in the C-Suite and board move, and when diverse women entrepreneurs achieve breakthrough success

• We applaud the accomplishments of individual female leaders and organizations who move the needle



NINEACTIONINITIATIVESNINE PERMANENTWORKING GROUPSHAVE BEEN CREATEDAND ARE REPRESENTEDBY MORE THAN 27 OF WBC’S FOUNDING PARTNERS.

THEY ARECOLLABORATIVELYDEVELOPING ACCELERATORGOALS AND STRATEGIES.

WBC WILL EXECUTE THE PLANS, TRACK PROGRESS AND REPORT RESULTS.

1. CEO LEADERSHIP AND SPONSORSHIP OF WOMEN CEOs Chair, Lorraine Hariton, President and CEO, Catalyst

The number of female CEOs at Fortune 500 companies stands at 6.8% (34) as of August, 2019, just barely beating the record of 32 in 2017 (2018 saw a reduction).

ACTIONS

• Provide aspiring women leaders with influential sponsors who can champion their leadership qualities and secure stretch opportunities in support of critical path strategic priorities

• Introduce P&L roles to high-potential women leaders starting at mid-career

• Aggressively build the pipeline of diverse women leaders with line management experience so that succession plans for the CEO role include an equal number of successful female leaders (including women of color) as men with demonstrated operating success

WBC asks: Could women constitute 10% of Fortune 500 CEOs by 2025?

2. WOMEN IN THE C-SUITE AND EXECUTIVE LEADERSHIP WITH P&L RESPONSIBILITY Chair, Subha Barry, President Working Mother Media

• According to the World Economic Forum the proportion of women in senior executive roles globally has been stuck at 24% for more than a decade

• In the United States, one in five women are C-Suite leaders; one in 25 C-Suite leaders are women of color (2018 Women in the Workplace – McKinsey/Lean In)

• A recent ISS Analytics study showed that nearly 80% of women executives are concentrated in finance, legal and HR, not in operating roles that lead to CEO opportunities

• Working Mother Media’s 2019 survey of 3000 men and women leaders showed that 64% of men vs. 37% of women said their company provides information on career paths to executive positions; moreover, 48% of men said they have received detailed information on career paths to P&L jobs in the past 24 months vs. just 15% of women – and 46% of men were encouraged to consider operating roles vs. 14% of women

ACTIONS

• Provide women with the same access afforded their male colleagues to information about how to advance, and encouragement to move onto a P&L track, if not into executive roles

• Ensure that succession plans that lead to senior roles reflect an insistence on gender and diversity parity

• Hold managers accountable for placing, developing and advancing emerging high-potential diverse female leaders into P&L roles

WBC asks:

Could 10% women of color make up the C-Suite by 2025 (from 4% currently)?

Could 8% of women occupying the C-Suite by 2025 have substantial P&L responsibility (from 5% currently)?


3. WOMEN IN THE BOARDROOM Chair, Ana Dutra, CEO Mandala Global Associates

• The average number of corporate board seats held by women in the

2018 Russell 3000 Index barely rose in 2018, from 16.0% in 2017 to 17.7% (2020 Women on Boards 2018 Gender Diversity Index)

• One-half of the companies in the Index have one or no women on their boards (2020 Women on Boards 2018 Gender Diversity Index)

• The percentage of 2018 F500 board seats occupied by African American women was 3%; Asian/Pacific Islanders, 1.9% and Hispanic women, 8% (Catalyst 2018 Board Diversity Census of Women)

ACTIONS

• Dissemination of membership criteria to the WBC member organizations whose missions are dedicated to the advancement of women on boards

• Spearheaded by theBoardlist, the creation of a robust database of existing and prospective female board members that can be searched by diverse sub-segments, e.g., African-American, Latinas, Asian, LGBTQ,

• Compilation of resources and available training for first time directors

• Sharing and dissemination of any public advocacy aimed at accelerating advancement of women on boards

WBC asks: Could women and women of color hold 35% and 10% respectively of the Russell 3000 board seats by 2025?

4. GENDER PARITY IN THE WORKPLACE Co-Chairs: Ripa Rashid, Managing Director, Culture@Work and Beth Kent, Executive Director, Paradigm for Parity Coalition

• A McKinsey Study found that companies in the top-quartile for gender diversity on executive teams were 21% more likely to outperform on profitability

• Women account for 45% of the S&P 500 labor force but represent only one in four executive level or management positions

ACTIONS

• Boards and CEOs to declare gender and diversity parity a business imperative

• Eliminate unconscious bias while creating cultures that enable interruption, providing incentives for action and consequences for inaction

• Celebrate and honor change champions, especially men who, by evidence of their majority in senior leadership roles, take the risk of sponsoring women leaders

WBC asks: Could there be full gender parity in the C-Suite by 2030?

5. DIVERSITY AND INCLUSION Chair, Dr. Sheila Robinson, Publisher and CEO Diversity Woman Media

According to the U.S. Census Bureau, women of color make up 39% of the nation’s female population and 20% of the entire U.S. population. According to the global non-profit research firm Catalyst, women of color will be the majority in the work place by 2060. It is therefore shocking that,

NINEACTIONINITIATIVES

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• Less than 2% of Fortune 500 companies are led by women of color, none of whom are African American

• Women of color make up 4% of the C-Suite (World Economic Forum)

• The percentage of 2018 F500 board seats occupied by African American and Hispanic women respectively was 3% and 8%

ACTIONS

• Conduct an aggressive outreach campaign to promote a minimum of 25% women of color into management roles by 2025, and 25% of new appointments to C-Suites and Boards be women of color by 2025

• Develop and publish a guide with proven methodologies for advancing women of color in business

• Work with other WBC Groups to ensure action items for women of color are embedded in their Action Initiatives and report successes

• Develop metrics and accountability for recognition of organizations that meet 25% goal

• Provide resources to organizations that are seeking external partners and programs to help them accomplish goals

WBC asks: Could 25% women of color serve on boards and in the C-Suite by 2030?

6. WOMEN IN TECHNOLOGY Co-Chairs: Sherrie Littlejohn, President Littlejohn Coaching and Leadership Consulting and Viola Maxwell-Thompson, President and CEO, Information Technology Senior Management Forum (ITSMF)

Women in the tech industry encounter more gender inequality than in any other workforce population.

• Computing roles for women in tech have been on a decline over the past 25 years (Pew Research)

• As of 2015, 17% of CIOs were female (NCWIT)

• While white women hold 16% of computing roles, women of color hold less than 10%. (NCWIT)

ACTIONS

• Recognize the achievements of women leaders in the high-tech industry, especially women of color

• Create CIO succession plans that call for the identification of high-potential women (including women of color) in technology no later than mid-career

• Aggressively invest in the development of high-potential women (including women of color) to rapidly change the mix of the pipeline of women leaders in technology

WBC asks:

Could women constitute 25% of leaders in the high-tech industry by 2025?

Could women of color constitute 8% of leaders in the high-tech industry by 2025?

Could 25% of CIOs be women of color by 2030?


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7. ENTREPRENEURS AND VENTURE CAPITAL Chair, Monica Smiley, Editor and Publisher of Enterprising Women

At nearly 13 million women-owned businesses in 2018, the share of women-owned businesses grew from 29% in 2007 to 40% in 2018. Women-owned firms account for 39% of all privately held firms and contribute 8% of employment and 4.2% of revenues. (NAWBO)

• 64% of newly created women-owned businesses are started by women of color (NAWBO)

• 8% of women-owned businesses have revenues of $10 million or more (Forbes)

• Female founders received only 2% of venture capital dollars in 2017 (Pitchbook)

• The average deal size for a woman-led company in 2017 was just over $5 million, vs. $12 million for man-led companies (Pitchbook)

• Female-led start-ups constituted 6.6% of deals in 2017 (368 compared to 5,588 for all-male teams); Females constitute 11% of partners in venture capital firms

ACTIONS

• Female owners of businesses generating more than $10 million a year in revenues to create boards and populate them with leaders who bring skills and expertise most needed to achieve critical path strategic priorities

• Female owners of businesses generating less than $10 million a year to create advisory boards consisting of individuals with skillsets and networks most conducive to supporting growth

• Celebrate and tell the stories of VC firms that are advancing access to capital by women owned businesses

WBC asks:

Could the number of women-owned firms with revenues above $10 million grow by 20% in five years?

Could the percentage of venture capital available to women founders double in five years?

Could the number of women partners in venture capital firms grow to 15% in five years?

8. LEARNING, TRAINING AND DEVELOPMENT Chair, Dr. Rosina L. Racioppi, President and CEO, Women Unlimited, Inc.

• Women are less likely than men to have clarity involving career advancement: 48% of men say they received detailed information on career paths to P&L jobs in the past 24 months vs. 15% of women (Working Mother Media 2019 Study: The Gender Gap at the Top)

• Far more men than women are benefiting from networking, mentoring and sponsorship than women: 54% of men had a career discussion with their mentor or sponsor in the past 24 months vs. 39% of women (Working Mother Media 2019 Study: The Gender Gap at the Top)

• 28% of women vs. 53% of men participated in a leadership development program in the past 24 months (Working Mother Media 2019 Study: The Gender Gap at The Top)



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ACTIONS

• Go beyond awareness of unconscious bias to shifting company practices to ensure that there is parity in feedback, guidance and opportunities for women – especially women of color

• Begin training and developing high-potential women leaders early in their careers to take on and advance with P&L responsibility where 90% of newly appointed CEOs have had significant line management experience

• Provide women (especially women of color) access to key relationships including, mentors, sponsors, coaches and strategic networks

WBC asks:

Could full parity be achieved as it relates to the clarity that women have and are afforded by mentors and sponsors about their career paths by 2025?

Could high-potential mid-career women (including women of color) equal the number of men tapped for P&L assignments together with major access to leadership training and development in line management roles by 2025?

Could the same number of women as men receive mentors and sponsors?

Could the same number of women as men participate in leadership development programs?

9. STRATEGIC COMMUNICATIONS AND MEDIA

WBC will be the leading source of information, data and resources showcasing the facts and causes that explain the slow growth of diverse women in the leadership ranks. We will shine a light on best practices, solutions and outcomes that are advancing the plight of women in leadership. WBC’s communications platform is composed of several elements including:

• 2020 WBC Summit: WBC will host its second annual Summit of part-ner organizations and other stakeholders April 23-24, 2020 to review and measure the achievement of goals set at the 2019 summit, set new goals and celebrate the success of collaboration throughout the first year.

• Website: Among other features, users will have access to a robust in-ventory of information and educational content about current events and how the acceleration of the advancement of women is progress-ing. It will include an automated feed on curated news that is relevant to WBC’s mission.

• Social Media: With the hash-tag #WBCFasterTogether, WBC will build a strong presence on social media aimed at reaching discreet communities of constituents with highly relevant content.

• WBC Report to the Nation and Scorecard: WBC will publish progress against goals and action forward.

• Aggregated Calendar of Events: WBC has developed a calendar of major women business events and will support and attend many of them. This presents an opportunity for decision makers to visualize major forums and choose which ones to support.


#WBCFASTERTOGETHER

CONTACT US

We would welcome and value the opportunity to share more about #WBCFasterTogether and the potential of your participation in the first ever collaborative accelerator of the advancement of women – especially women of color – into

C-Suites and boardrooms, together with the achievement of gender parity.

HOW TOGETINVOLVED

As a WBC partner, volunteer and/or donor, you support WBC as we accelerate and celebrate the number of women and women of color advancing to C-Suite roles, with P&L responsibility and serving on boards; scaling their own businesses to new heights and sharing in practices that promote parity in the workplace.

JOIN THE ADVISORY BOARD

Join us in accelerating change by being part of the group of Board-appointed supporters of the first-ever collaborative action agenda, moving faster together.

Your role:

• To introduce WBC and its partner organizations to your network of influencers

• To advise on communications strategies that amplify the achievement of the individual member organizations and the Collaborative at large

BECOME A MEMBER OF THE WBC LEADERS COUNCIL

Be a recognized financial supporter as we build a robust communications platform; convene collaboratively; plan forward and celebrate organizations and leaders of all types who are accelerating the advancement of women – especially women of color – in leadership.

BECOME A WBC SPONSOR

We are inviting a select group of companies to support this historic collaborative action agenda.

By funding a specific program of the Women Business Collaborative you will have a direct impact on the acceleration of women leaders into the C-Suite, onto boards, scaling their own businesses and the achievement of gender parity in the workplace.

Together we will discuss your company’s needs and priorities and identify specific ways in which WBC’s strategic plan provides an opportunity to partner.

See sample benefits on next page.

BE PART OF AGROWING GROUPOF SUPPORTERSOF THE FIRST-EVERCOLLABORATIVEACTION AGENDA, MOVING FASTERTOGETHER, TO ADVANCE DIVERSE AND EQUITABLE FEMALE REPRESENTATIONIN C-SUITES ANDBOARDROOMS, FULL PARITYIN THE WORKPLACE,AND THE GROWTHAND FUNDING OFWOMEN-OWNED BUSINESSES.

JOIN US IN SUPPORTINGACCELERATEDCHANGE.


WBCSAMPLEBENEFITS

STRATEGIC MEETINGS & EVENTS

2020 WBC Summit: WBC partner organizations will convene to review and measure the achievement of goals set at the 2019 summit, set new goals, and celebrate success of collaboration throughout the first year. The Summit will bring together at least 50 national organizations, trade associations and corporations. (April 23-24, Washington, D.C.)

• Sponsors will have the option to lead one of the sessions, and / or keynote a session.

• Sponsors will be able to include a letter and a full-page ad as part of the program.

Industry Roundtable: Sponsors will have the opportunity to host an industry gathering with key leaders and players (including trade associations and research partners) to address challenges and collaboration opportunities to accelerate the appointment of women and women of color to the executive pathway. An industry report will be produced and disseminated. (Suggested venue: Washington, D.C., New York or San Francisco)

STRATEGIC COMMUNICATIONS & THOUGHT LEADERSHIP

• Speaking Engagements: Priority invitations to speak and present at various conferences, forums and/or webinars within WBC and its network.

• Editorial Content: Author or co-author original content and editorial opportunities through WBC’s network of publications. (corporate, diversity and inclusion, global)

• Industry White Paper / Publication: A key focus of WBC is the aggregation and organization of contents, research, reports and data. WBC sees an opportunity in identifying knowledge or data gaps where WBC sponsors and partner organizations can come together and provide analysis and a path forward.

• Branding: Sponsors will have their logo and / or profile on WBC’s website and all branding and communications materials (digital and printed).

SUPPORT OF COMPANY’S TALENT DEVELOPMENT STRATEGY

WBC is uniquely positioned to support its corporate sponsors in advancing their Executive Talent Development Pipeline (C-Suite and boards) and Diversity and Inclusion agendas. Through its partner organizations, sponsors can leverage a board of experts to identify best practices, strategic approaches and recommended partnerships to accelerate corporate initiatives that support the advancement of women, especially women of color.

TRACKING AND RECOGNITION OF BEST PRACTICES AND KEY ACHIEVEMENTS

WBC aims to challenge, recognize and celebrate occasions that signal the numbers moving forward. WBC will recognize organizations that are setting themselves apart as they develop and implement best practices that are leading to the advancement of women leaders to the top in corporate Ameri-ca and as entrepreneurs. Sponsors will be part of the development of resourc-es, criteria, tracking systems and scorecards for organizations to leverage as a mechanism to report on how they are advancing toward a shared mission.


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HEAR OUR VOICES AS INSPIRED CAN-DO CHANGE MAKERS

YES. WE ARE A COALITION OF INFLUENTIAL ORGANIZATIONS.Catalyst is privileged to bring its expertise to the Women Business Collaborative (WBC) and join forces with the most

influential organizations working to accelerate progress for women at work.Lorraine Hariton, Catalyst

YES. WE ARE AN INSPIRED AND INSPIRATIONAL ACTION TEAM.As a coalition, we will walk together and walk far. We will pick each other up when we tire and we will cheer each other

on as we find success. But make no mistake, we will reach high, dream deep and to goal as a team!Subha Barry, Working Mother Media

YES. COLLABORATION ACHIEVES GOALS. “If there’s one thing I know for sure, it is the power of women collaborating with other women to achieve goals…

It is only happening- and will only continue to happen- if women remain focused, driven, and dedicated to connecting with each other to keep the momentum going.”

Judee von Seldeneck, Diversified Search

YES. TOGETHER WE WILL ACHIEVE PARITY.Achieving gender parity in corporate leadership positions will require meaningful and lasting cultural change. However,

this change can only be made if women and men across the corporate world come together, collaborate and commit to implementing policies and programs that eliminate barriers to equality. By working together, we can maximize our collective impact and truly achieve the paradigm shift that will ensure equality in the workplace for future generations.

Jewelle Bickford, Paradigm for Parity

YES. WE WILL SHATTER CEILINGS IF WE FOSTER COLLABORATION. Three decades of research show that women are good for business, for our communities and for our society as a whole.

If we #fostercollaboration to amplify women from the classroom to the boardroom, we will shatter all the glass ceilings out there.

Andrea Conner, ATHENA International

YES. PERSONAL NETWORKS ARE BY DEFINITION LIMITED AND HOMOGENEOUS.But when we link our connections, seek to elevate the great work of others and leverage technology to increase access,

we can make real change at scale. This combination of human collaboration and enabling technology can be the breakthrough needed to achieve gender diversity in the board room and beyond.

Lisa Corrigan, theBoardList

YES. WE HAVE A HIGHER PURPOSE.Become a part of a team of people who challenge and inspire you; spend a lot of time with them;

engage and share with them and, together, you will change the world. Revolutions are never done by one person only; they’re done by teams of people committed to a higher purpose.

Anna Dutra, Mandala Global Advisors

YES. WE ARE DRIVING ACCELERATED CHANGE AS WE MAXIMIZE ROI OF OUR RESOURCES.Fragmented efforts can risk the unintended consequences of redundancy and fatigue. Leveraging U.S. efforts and ensuring new programs are developed to fill gaps will maximize ROI of resources and drive fastest change possible.

Kiersten Barnet, U.S. 30% Club

YES. AS A TRUSTED AND TRUSTING ALLIANCE OF LEADERS WE CAN AND WILL ACHIEVE OUR GOALS.

Helen Keller said, “Alone we can do so little; together we can do so much.”Sue McLaughlin, C200

WOMEN BUSINESS COLLABORATIVE1200 New Hampshire Avenue NW Suite 820Washington, D.C. 20036202-296-5222 | www.WBCollaborative.org WBCollaborative

“we pledge shared advocacy and celebration of individual ... · • we recognize the greatness of...

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