Catalyst celebrates winning initiatives at 2004 Annual Awards Dinner and Conference.

Special Issue

The Buzz

At this year's Awards Dinner, Catalyst President Ilene H. Lang shared the organization's view of the future and invited companies and firms to join Catalyst in making change:

"We have a vision. Catalyst seeks a world that supports and encourages every woman in her career aspirations and places no limits on where her skills and energy can take her. A world that removes barriers to women, that supports and encourages every woman at every level--not just those at the top--where diverse groups of people work together, challenged to do their best and be their best ...

"The Catalyst you've known for years is evolving. We're changing for the future, and to prepare you for it as well. We believe you can reap the rewards of gender diversity when you create workplaces that encourage women to aspire and achieve. When you hire women, when you give them room to grow and stretch, when you retain them and promote them and respect their contributions, you create change."

Awards Dinner

On March 25th, 1,750 business leaders from companies across North America and abroad attended the 29th Annual Catalyst Awards Dinner. The event was the culmination of an intensive, yearlong process of evaluating business initiatives for promoting women's leadership. Attending the Dinner were 76 CEOs/Managing Partners of leading companies and firms who gathered to celebrate the achievements of the 2004 Award winners: General Electric Company, Harley-Davidson, Inc., and Shell Oil Company U.S.

Serving as this year's Dinner Chair, Henry A. McKinnell, Jr., Ph.D., Chairman and CEO of Pfizer Inc, congratulated the Award winners for their achievements in advancing women. Highlighting the fact that each of the Award-winning companies has been in business for at least 80 years, Dr. McKinnell emphasized that in today's changing marketplace, companies that are built to last are built with an eye to the future. He described the importance of leadership development and creating inclusive work environments where all employees can excel.

At her first-ever Awards Dinner, Ilene Lang welcomed attendees in celebrating the winners and reflected on her beginning months at Catalyst. Touching on findings from some of Catalyst's recent research releases--including our groundbreaking study connecting corporate financial performance and gender diversity--she emphasized: "What's good for women is good for business. And that's the bottom line." Ms. Lang also described Catalyst's plans to strengthen and deepen our commitment to women and the organizations where they work and explained how companies can join in our efforts. "Develop your women," she said. "Offer them mentors, honest feedback, networking, and flexibility. Give them equal access to the best opportunities, and those women will bring you success."

Catalyst Board Chair Thomas J. Engibous, Chairman of Texas Instruments, followed with a description of the rigorous process companies must go through to be considered for the Award. CEOs from the Award-winning organizations then accepted their Awards, speaking on behalf of their companies.

Awards Conference

Prior to the evening's Awards Dinner, nearly 500 business leaders from a wide range of industries gathered for Catalyst's 2004 Awards Conference: Innovative Strategies, Winning Results. Sponsored by General Motors Corporation, the daylong conference provided participants with opportunities to learn more about the Award-winning initiatives, as well as Catalyst's innovative strategies, research, and expertise.The conference kicked off with a morning plenary session, where representatives from General Electric, Harley-Davidson, and Shell Oil gave an overview of their companies' winning initiatives.

The Winners

General Electric's initiative aligns two core people management efforts: Session C and the General Electric Women's Network (GEWN). Top talent identified in Session C is tapped to lead GEWN hubs and regions, giving women hands-on leadership experience. At the same time, ongoing GEWN events provide leadership education opportunities. GEWN operates like a GE business unit, and its annual objectives are set in alignment with overall GE business goals. GEWN goals and results are strengthened by strong senior leadership support. Chairman and CEO Jeffrey Immelt regularly visits geographic business unit leaders and network leaders to review business strategy and discuss talent needs. Mega-network events and network leadership activities give his senior executive management team the opportunity to meet with the high-potential female talent pool identified via Session C. The initiative's success is ensured further by strong accountability mechanisms and pervasive communication efforts.

Harley-Davidson's initiative has enabled the company to empower all talent to be true partners in its business. Leadership transformed the organization from a traditional, top-down model to an open, participatory model in which employees are provided with the tools and training necessary to make significant business decisions. The foundations of this transformation--a business process and a set of core values--are highlighted at each new employee's formal orientation. The values encourage employees to push back on all levels of decisions and take calculated, measured risks in their work. These efforts are underscored by Harley-Davidson's commitment to employee development and lifelong learning. Finally, a performance management and succession planning process that annually brings together all senior leaders to discuss employee performance, bench strength, and potential, ensures that employees' talents are visible to their supervisors, as well as managers in all functional areas.

The Royal Dutch/Shell Group of Companies adopted a Diversity and Inclusiveness (D&I) Standard that includes a strategic diversity framework and outlines long-term goals for women in senior-level jobs. In its implementation of the Group Standard, Shell Oil Company in the U.S. has established commitment and accountability systems and stringent assurance processes for meeting D&I requirements throughout the organization. The Diversity Progress Enhancement Project (DPEP) was commissioned by Shell Oil's leadership to assess current state and map the strategic direction of diversity for the future. DPEP components include a scorecard for measuring progress and guidelines for strengthening employee networks--all intended to enhance Shell's ability to meet the D&I Standard. In addition, diversity representation data are posted on Shell's intranet for all employees to see in order to identify gaps and demonstrate progress in closing them.

Following the morning plenary session, conference participants spent the day attending workshops and sessions where speakers shared personal stories and experiences related to career advancement. Catalyst experts also led a number of sessions, highlighting company practices and sharing our extensive knowledge and experience with advancing women in business.

Spotlight: Advancing Women in Business: The CEO View

At this year's Conference lunch session, CNBC's Sue Herera moderated a dynamic discussion on the role of senior leaders in advancing women. Panelists Tony Comper, President and CEO of BMO Financial Group; Mary B. Cranston, Esq., Chair of Pillsbury Winthrop LLP; and Ilene H. Lang, President of Catalyst, described their personal commitment to workplace diversity and how they make it happen at their organizations. Drawing on what they see in their own work environments--as well as findings from recent Catalyst research--panelists discussed a number of challenges women face today, such as: stereotypes about women's roles and abilities, exclusion from informal networks, lack of line management experience, and balancing work and personal responsibilities. Panelists also offered practical solutions for tackling these barriers and explained the business reasons for making diversity a top priority. They emphasized the importance of senior leadership commitment in creating inclusive work environments where women can succeed.

On the business case for diversity:

"First and foremost, we believe this is not an HR issue; this has to be a business issue. And there are a lot of reasons for that ... More than 60 percent of the family purchase decisions for financial services are made by women ... So having a diverse workforce--one that reflects the communities at large and the customer segments at large--is in our self interest. You have to start with seeing this as a strategic imperative."

Tony Comper, President & CEO, BMO Financial Group

On barriers to women's advancement:

"In the professional services arena, the challenges really come down to two main types of problems: subtle bias and balance. The solutions we've found are: commitment from the top to walk the walk and talk the talk, measure what's going on, and set up reward structures that change things. The most important solution is critical mass; once you get about 40 percent women in your organization at the levels you care about, the problems tend to go away."

Mary B. Cranston, Esq., Chair, Pillsbury Winthrop LLP

On workplace flexibility:

"Men are experiencing many of the same problems. They don't have more hours in their day than women do. Our data show that men and women across many industries and different generations have fairly comparable views about wanting flexibility and needing flexibility."

Ilene H. Lang, President, Catalyst

"Develop your women--offer them mentors, honest feedback, networking, and flexibility. Give them equal access to the best opportunities, and those women will bring you success. Improve the work world for women, and in so doing, for everyone."

Ilene H. Lang

President, Catalyst

"We know our marketplace is changing and our talent pool is always in flux. And that is why we at Pfizer, with our Award winners tonight and along with you and the companies you represent, continue to turn with confidence to the people of Catalyst."

Henry A. McKinnell, Jr., Ph.D.

Chairman & CEO, Pfizer Inc,

Chair, 2004 Catalyst

Awards Dinner

"Catalyst knows that to make lasting changes, companies and the people who lead them must be fully committed. Each year, Catalyst invites corporations and firms to showcase their commitment and approaches to this task. The Catalyst Award then highlights the best of the best practices."

Thomas J. Engibous

Chairman, Texas

Instruments, Chair, Catalyst

Board of Directors

"The GE women's network engages the entire company--male and female--to help us bring diverse talent through the pipeline. [... It] is only seven years old, but today we have 100 local hubs that help thousands of people grow and excel."

Jeffrey R. Immelt

Chairman & CEO

General Electric Company

"We are deeply honored by Catalyst's recognition of our efforts. ... It is my great hope that we will continue to evolve to the state where equal opportunity for every person to reach their full potential is no longer a program at Harley-Davidson, but just the natural order of things."

Jeffrey L. Bleustein

Chairman & CEO

Harley-Davidson, Inc.

"Being inclusive and diverse is essential in helping us achieve our business goals. ... It's absolutely crucial to our business success to fill our talent pipeline with candidates that more clearly reflect the population we serve and that which we draw from."

Lynn Laverty Elsenhans

President & Country Chair

Shell Oil Company U.S.

With this issue of Perspective Catalyst recognizes

General Motors Corporation Sponsor of the 2004 Catalyst Awards Conference