Allstate named a 'Top Company for Executive Women'
NORTHBROOK - Allstate Insurance Co. has been named one of the 2016 "NAME Top Companies for Executive Women" by the National Association for Female Executives.
The award recognizes American corporations that have moved women into top executive positions and created a culture that fosters the careers of talented women.
"We take pride in the diversity of our workforce here at Allstate," said Mike Escobar, Allstate vice president, diversity and organizational effectiveness. "Women were 42 percent of our officers and managers, 56 percent of our employees, and 25 percent of our Allstate agency owners at year-end 2014. When you bring together people with different backgrounds and experiences, you generate more creativity and better business results."
"I am happy to report that female representation in senior management positions continues to inch up at the NAME Top Companies," said Dr. Betty Spence, NAME president. "Though progress of women into senior positions has slowed nationally, the 2016 NAME 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 NAME Top 60 Companies:
• More than half (52 of the companies on the 2016 NAME Top 60 haveat least four women on their boards of directors. An average of 28% of board of director members are women, compared with 19% at S & P
Companies.
• The number of NAME Top 60 Companies led by women CEOs has dropped two percentage points since last year to 8%, but still outpaces Fortune 500 companies with 5%.
• Every NAME Top Company CEO requires a women's advancement executive to report to him/her on women's advancement metrics, and 92% of them review senior-level succession plans for gender equity.
• Women at the NAME Top Companies last year received 44% 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.
"The NAME Top Companies are where women are increasingly making the decisions that affect their company's future and its bottom line," said Subha V. Barry, vice president and general manager, Working Mother Media. "They are setting standards for advancing women into positions to lead businesses, set policy and take profit-and-loss responsibility."