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NETWORK OF EXECUTIVE WOMEN January 2011 |
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Women face financial retirement risk, report findsWomen must better manage their retirement risks, according to a December 2010 report by the Society of Actuaries. “The Impact of Retirement Risk on Women,” based on a 2009 survey of 804 adults aged 45 to 80, found the length of women’s planning horizon is relatively short compared to life expectancy. Although half of women will live beyond age 85, only 11 percent of female pre-retirees and 8 percent of female retirees have that long a planning horizon. Married women also are ill-prepared for widowhood, the report concluded. More Top execs to discuss diversity at NEW eventA diverse group of industry leaders will lead discussions at the Network of Executive Women Multicultural Workforce Conference 2011, March 1-3 in Atlanta. Speakers will include Rosalind Brewer, division president of Walmart Stores, Sandy Douglas, president of Coca-Cola North America, and Keith Wyche, president and CEO of Cub Foods. Welcome remarks will be made by Robert Abernathy, group president of North Atlantic Consumer Products for Kimberly-Clark. Register by Friday, January 14 to save on this event. More Women standing still on the corporate ladderWomen made no significant gains in Fortune 500 corporate boardrooms, executive suites or ranks of top earners last year, according to the “2010 Catalyst Census: Fortune 500 Woman Board of Directors” and “2010 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners.” Women held 15.7 percent of board seats in 2010, representing just half a percentage point gain over the 15.2 percent they held in 2009. While more than half of Fortune 500 companies had at least two women board directors, more than 10 percent had no women serving on their boards. Women held only 14.4 percent of executive officer positions, up less than 1 percent, and only 7.6 percent of the top earner positions last year. More Workplace hurdles hamper womenLower pay, lack of representation in top corporate jobs, expensive childcare and inflexible work arrangements are hampering women's contribution to the economy, according to a report released in mid-December 2010 by the U.S. Congress Joint Economic Committee. The JEC found full-time, year-round working women earn 77 cents for every dollar earned by men, about the same gap found nearly a decade ago. Over the course of a career the cumulative impact is a hefty $430,000 by the time she retires. Full-time female managers earn 81 cents for every dollar earned by their male manager peers. More Women’s group is a big WIN for DeloitteDeloitte’s Women’s Initiative (WIN) and diversity and inclusion programs are creating competitive advantages for the firm, according to two internal company reports. The firm’s “WINning New Business” initiative is giving high-potential women in senior manager roles the tools to build strong relationships, powerful negotiation skills and solid personal brands. Its Women as Buyers (WAB) workshop, based on a year-long study of differences between men and women in business, is designed to help Deloitte professionals build stronger relationships with women clients and colleagues by better understanding their buying preferences and decision styles. More |
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