On January 24, 2007, Catalyst announced that The Goldman Sachs Group, Inc., PepsiCo, Inc., PricewaterhouseCoopers LLP, and Scotiabank are the recipients of the 2007 Catalyst Award, the award given to companies that employ innovative methods to advance women and business.
All entrants were reviewed and judged rigorously on criteria including business rationale, senior leadership support, communication, measurable results, accountability, originality, and replicability.
The award winners were selected based on how well their initiatives create accountability, demand more representative management teams, empower women employees to take charge of their careers and advancement, and require a steadfast commitment to diversity.
Goldman Sachs’ Senior Women’s Initiative significantly increased the number of women managing directors (MDs) and partners: and, globally, the number of women partners has doubled from 2001 to 2006.
PepsiCo’s Women of Color Multicultural Alliance focuses on attracting, retaining, and developing women of color in the middle and senior management ranks at PepsiCo. The success of the program is clear: from 2002-2006, the number of women of color at the senior management/director/VP level has increased; representation for women of color on the board of directors has doubled.
PricewaterhouseCoopers’ Unique People Experience (UPE) was created to reduce turnover, maximize value for PwC’s clients, and increase the productivity of the firm’s staff. The initiative paid off: among the results, women’s representation at the partner level has increased 30 percent from 2001 to 2006.
Scotiabank found a strong business case to support the creation of its Advancement of Women Initiative (AoW). The organization’s most senior women started this business-focused imperative that improved women’s representation by
leveraging existing processes, programs and platforms, thereby reinforcing the business value of the work. Through this initiative, Scotiabank has significantly improved senior women’s representation at the bank: the number of women at all senior levels – from vice president and above – nearly doubled from 2003 to 2006.
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