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Monday, Oct 2, 2023

Business Women See Progress in Move Toward Gender Parity

Nonprofit collaborative grows participation by more than 200% since founding

Women Business Collaborative (WBC) has established itself as a leading collaborative and high-growth movement committed to achieving equal position, pay and power for all women in business. Founded in 2019, the nonprofit alliance of business organizations and leaders has grown to include more than 60+ women’s organizations, 40 corporate sponsors and 400+ Council Champions.

WBC’s network of business organizations and leaders are focused on achieving long-term results around Nine Action Initiatives, including: more women CEOs, in the C-suite and on boards; a demand for gender and pay parity; increasing capital for women entrepreneurs; driving more women as controllers of capital allocation; parity for women in technology; and leveraging learning and development to drive pipeline promotions. With diversity, equity and inclusion at of the core of the collaborative’s mission, every WBC Initiative has a goal to advance diversity.

Since WBC’s founding, the number of collaborating women’s business organizations has grown from 19 to 62 and corporate sponsorship has grown from five to nearly 40 top companies. Supporters include Diversified Search Group, Wells Fargo, Capital One, IBM, Bank of America, BCG, Cigna, and Deloitte. WBC’s flagship Summit hosted a record 3,600 participants this past September.

“We’re incredibly thankful for the passion and commitment that each of our partners and champions offer to this critical movement,” said Edie Fraser, CEO of WBC. “While Boards have seen a sea change and there’s been a major surge of women-owned and minority-owned businesses seeking capital, there is still much more to be done to accelerate gender parity for women. We project further acceleration in 2022.”

In 2021 the WBC with Catalyst, C200 and Ascend released the 2nd annual Women CEOs in America Report.   According to the report, women comprise 8.2% of the Fortune 500 companies and are about 7% of CEOs across public and private companies. 

The Women Business Collaborative in partnership with Equilar releases a monthly report, newsletter, and publishes the data on a website detailing women’s status in the boardroom. This report lists and tracks women who have been named to the boards of public companies monthly along with showing ethnic and industry breakdowns. By the end of last year, the WBC monthly “Women Joining Public Boards” report shows an average of 42% women being named to public boards and one third of these are women of color.

Learn more about the Women Business Collaborative at wbccollaborative.org. Also, follow the organization on LinkedIn and Twitter @WBCollaborative, Instagram @womenbusinesscollaborative and join the discussion with #WBCFasterTogether.

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