Aligning actions to values: The Catalyst CEO Champions For Change
Executive Summary
The Catalyst CEO Champions For Change are a prestigious group of 70+ global CEOs who have pledged to advance women across all racial and ethnic groups into leadership roles, demonstrating their commitment to doubling down on diversity, equity, and inclusion (DEI) amid evolving workplaces and an uncertain economy. This report found that the Champion companies are leading the way in three key areas: Representation, Pay Equity, and Board Accountability.
Representation
Women represent 28% of executives at Champion companies, compared with 23% among their global peers. Champion companies are also ahead of the Fortune 500 overall in women’s board representation (35% compared to 27%), including the representation of women from marginalized racial and ethnic groups (8% compared to 6%). As a group, these companies exceed the 30% threshold known as critical mass, which decades of social science research has found shifts group dynamics and leads to improvements in corporate governance performance.
Pay Equity
The vast majority of Champion companies (82%) conducted at least one pay equity review within the last three years—a higher proportion than found in other studies—indicating that they are models for other organizations to follow on the journey to achieving equal pay for equal work.
Board Accountability
Over two-thirds (69%) of Champion company boards of directors assess pay equity progress and/or findings, and many influence and oversee DEI work more broadly across their organizations, demonstrating accountability and a commitment to fair and equitable business practices at the highest levels.