Catalyst kicked off its 40th Anniversary year by announcing the winners of the prestigious Catalyst Award, given to companies implementing new and creative solutions for ensuring women's advancement in the workplace of the 21st Century. The 2002 Catalyst Award will be given to Bayer Corporation, Fannie Mae, and Marriott International Inc.
Each award is given to proven initiatives that establish innovative programs to attract, advance, and retain the best and the brightest talent while monitoring the representation of women from entry level to the senior executive. Bayer Corporation's initiative, Bayer Women: Leaders for the Global Marketplace focuses on developing women and people of color over time and providing then with the tools to rise up the multi-divisional global Bayer ladder. Marriott International's Women and Marriott: Partners for the Future creates a three-pronged approach where women construct a personal development plan that identifies goals and allows them the ability to move throughout the different businesses of the 24-hour a day hospitality company. Fannie Mae's Embracing Diversity to Foster Long-Term Success reaches inside and outside Fannie Mae to educate both employees and customers about the benefits of a diverse workforce and a diverse society.
Avon Chairman and CEO Andrea Jung will chair the Catalyst Award Dinner and preside over the star-filled room at the April 11, 2002 awards ceremony held annually at the Waldorf=Astoria. Last years' dinner packed the Waldorf=Astoria ballroom and attracted over 175 companies and more than 50 Fortune 500 CEO's.
"These companies are raising the bar in executive suites and board rooms around the globe by implementing successful, effective and measurable solutions to the challenges faced by women and people of color in business," said Catalyst President Sheila Wellington. "The Catalyst Award is given in recognition of the talented and innovative leadership at Bayer, Fannie Mae and Marriott."
About the Catalyst Award
Catalyst annually honors companies for outstanding initiatives to advance women since 1987, evaluating senior management commitment, measurable results, accountability, replicability, and originality. John F. Smith, Jr., Chairman of General Motors Corporation and Chairman of Catalyst's Board of Directors, noted "in bestowing these awards, Catalyst provides the business community and the world with replicable success models, and helps corporations and professional firms create approaches that are good for women and good for business."
About the Catalyst Award Conference
Conference Catalyst will host a full-day conference in addition to the awards ceremony. Each company will present an in-depth analysis of the winning initiatives. In addition there will be candid discussions about personal success strategies with high-level global businesswomen and workshops to outline strategies companies can employ to better recruit, retain, and advance women.
Catalyst is a nonprofit research and advisory organization working to advance women in business and the professions, with offices in New York, California and Toronto. The leading source of information on women in business for the past four decades, Catalyst has the knowledge and tools that help employers and women maximize their potential. Our solutions-oriented approach-through research, Advisory Services, Corporate Board Placement, and the Catalyst Award-has earned the confidence of global business leaders. For additional information or to obtain a copy of this report, please visit our web site at www.catalystwomen.org or call 212-514-7600.
Previous Catalyst Award Winners (1987-2001):
The Allstate Corporation American Airlines The American Business Collaboration for Quality Dependent Care Arthur Andersen & Co., S.C. American Express Avon Mexico Avon Products, Inc. Bank of Montreal Baxter Healthcare Corp. Charles Schwab & Company Con Edison Connecticut Consortium for Child Care Continental Insurance Corning Glass Works Corning Incorporated Deloitte & Touche LLP The Dow Chemical Company E.I. du Pont de Nemours and Company Eastman Kodak Company The Equitable Financial Companies Fannie Mae Gannett Co., Inc. General Mills Hewlett-Packard Company Hoechst Celanese Corporation IBM J. C. Penney Company, Inc. John Hancock Financial Services J.P. Morgan Chase & Co. Knight-Ridder Inc. McDonald's Corporation Mobil Corporation Morrison & Foerster Motorola The Northern Trust Company Pitney Bowes Inc. The Procter & Gamble Company Sara Lee Corporation SC Johnson Wax TD Bank Financial Group Tenneco Inc. Texas Instruments US Sprint Communications Company U S West, Inc.
About the 2002 Catalyst Award Winners
Bayer Corporation Bayer Women: Leaders for the Global Marketplace
Bayer Corporation, the United States subsidiary of Bayer AG, has developed, in the context of continuous improvement of the business operation, an overarching approach to diversity. The goal of the initiative, Bayer Women: Leaders for the Global Marketplace, is to provide women and people of color with the critical skills necessary to advance to senior positions throughout the multi-divisional, global Bayer Group. The initiative is driven by the Bayer Diversity Advisory Council (BDAC) with five subcommittees (Communications, Education and Training, Mentorship, Recruitment/Retention, and Work/Life), each with two executive sponsors. The wide-ranging approach to preparing women for leadership positions features multiple mentoring programs, career development programs, employee networks, succession planning with executive accountability, and diversity awareness training. The Delegate Career Development Program was created to provide women with international assignments in non-traditional roles and provides extensive language and cultural training to prepare for the expatriate assignment. Nine of the 19 women who have participated since 1997 have completed their assignments and have achieved promotions ranging from two to four grade levels higher. In addition, President and Chief Executive Officer Helge H. Wehmeier regularly reviews with his direct reports employee statistics as well as action plans for employee development and diversity. As a result, in the past four years the percent of women has increased at the executive level from 2.6% to 6.7% in 2001, at the vice president level from 8.8% to 12.8% in 2001, and at the director level from 13.6% to 21.6% in 2001.
Fannie Mae Embracing Diversity to Foster Long-Term Success
Fannie Mae, the private, shareholder-owned company that provides financing for nearly one in five U.S. mortgages, has developed a broad-based approach to ensure advancement opportunities for women and people of color. Fannie Mae's unique internal/external approach ensures that its employee base looks like America. In order to leverage its diversity leadership and educate the partners that help the company achieve its mission, Fannie Mae provides tailored diversity training sessions to its customers¾mortgage lenders¾as well as diversity benchmarking sessions to other interested organizations. In addition, Fannie Mae features a multitude of internal programs and policies marked by a high degree of senior leadership accessibility and commitment to diversity. For example, the company has introduced "straight talk," a tool designed to facilitate candid dialogue between supervisor and direct report during performance-review discussions. Fannie Mae also has implemented many programs to leverage its internal diversity. Highlights include a program matching 150 mentoring pairs each year, a bimonthly speaker series during which senior employees share their career strategies, and an e-mentoring pilot. Currently, 44.1 percent of the management group at Fannie Mae is comprised of women; 12 percent of managers are women of color. The percentage of women at the director level has increased from 42 percent in 1994 to 45.4 percent in 2001; and the percentage of women in the officer level has increased from 33.6 percent in 1994 to 40.23 percent in 2001.
Marriott International Inc. Women and Marriott: Partners for the Future
The goal of Marriott International Inc.'s Women and Marriott: Partners for the Future initiative is to attract, advance, and retain talented women in a business that operates 24 hours a day, seven days a week. Through extensive internal research, the company created a three-pronged approach: improving the career planning and promotion process, creating career development tools to encourage networking and mentoring, and providing increased support for work/life balance. A two-day Women's Leadership Conference was convened to introduce the initiative and to foster a dialogue concerning women's leadership opportunities at Marriott. A senior advisory council on women and minority leadership development was created to initiate strategy and policy level changes and is accountable for tangible results. Under the leadership of chairman and CEO J.W. Marriott, Jr., the company has put many programs and activities in place related to child care, elder care, flexibility, relocation assistance, mentoring, and networking. A highlight is the customization of the Leadership Development Talent Inventory process for women, especially general managers, that includes a thorough personal assessment, extensive feedback, executive coaching, a workshop, and the creation of a personal development plan. This process allows women control over their own careers and the latitude to move throughout the businesses at Marriott. President and COO, William Shaw, reports on the progress of the initiative and on meeting numerical goals to the Board of Directors twice a year. The results: The percent of women at the senior manager and executive level has increased from 29.3% in 1998 to 32.4% in 2001 and, over a 21-month period from June 1999 to March 2001, the percent of women full service general managers increased from 7% to 15%.
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