DES MOINES, Iowa–(BUSINESS WIRE)–Principal
Financial Group has been named one of the 2016 “NAFE Top
Companies for Executive Women” by the National Association for
Female Executives, to recognize American corporations that have moved
women into top executive positions and created a culture that fosters
the careers of talented women.
“I am happy to report that female representation in senior management
positions continues to inch up at the NAFE Top Companies,” says Dr.
Betty Spence, NAFE President. “Though progress of women into senior
positions has slowed nationally, the 2016 NAFE Top Companies are leading
the way in moving women in power positions where they have the influence
to innovate and boost profits.”
Highlights of the 2016 NAFE Top 60 Companies are:
More than half (52 percent) of the companies on the 2016 NAFE Top 60
have at least four women on their boards of directors. An average of
28 percent of board of director members are women, compared with 19
percent at S&P Companies.
The number of NAFE Top 60 Companies led by women CEOs has dropped two
percentage points since last year to 8 percent, but still outpaces
Fortune 500 companies with 5 percent.
Every NAFE Top Company CEO requires a women’s advancement executive to
report to him/her on women’s advancement metrics, and 92 percent of
them review senior-level succession plans for gender equity.
Women at the NAFE Top Companies last year received 44 percent of
promotions to the manager level and above. The largest proportion of
promotions going to women is at the manager level; however, men still
receive the majority of promotions at all levels.
“I believe companies that focus on gender equality as well as other
diversity and inclusion efforts are better poised to be successful in
the near as well as long-term,” said Beth Raymond, senior vice president
of human resources at The Principal®. “This is a part of our
culture and commitment, to provide all team members with opportunities
to reach their potential.”
Subha V. Barry, Vice President and General Manager, Working Mother
Media, says, “The NAFE Top Companies are where women are increasingly
making the decisions that affect their company’s future and its bottom
line. They are setting standards for advancing women into positions to
lead businesses, set policy and take profit-and-loss responsibility.”
About the Methodology
The 2016 NAFE Top Companies
application includes some 200 questions on female representation at all
levels, especially the corporate officer and profit-and-loss ranks. The
vetting process includes tracking access and usage of programs and
policies that promote the advancement of women as well as the training
and accountability of managers in relation to the number of women who
advance. In order to be eligible for the NAFE Top Companies survey,
entrants must have a minimum of 1,000 employees, two women on the Board
of Directors and be a public or private company. NAFE also separately
names the Top 10 companies in the nonprofit sector.
About the Principal Financial Group
The Principal Financial
Group® (The Principal®)1 is a global
investment management leader offering retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded in
1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $527.4 billion in assets under management2 and
serves some 19.1 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
The National Association for Female Executives
(NAFE), founded in 1972, serves 20,000 members nationwide with
networking, tools and solutions to strengthen and grow their careers and
Mother magazine publishes the annual NAFE Top Companies list. NAFE.com
provides up-to-date information, community for women in business and
access to member benefits. NAFE is a division of Working Mother Media,
owned by the Bonnier Corporation.
1 “The Principal Financial Group” and “The Principal” are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of Dec. 31, 2015.
Principal Financial Group
Hillary Gebert, 515-246-4942