Granite is committed to bringing more women into leadership as part of Catalyst CEO Champions for Change. These CEO champions continue to advance women in their organizations at every level across the leadership pipeline, particularly in the executive ranks – demonstrating their commitment to doubling down on diversity, equity and inclusion (DEI) in the midst of a global pandemic and turbulent economy.
According to the newly released Prioritizing Equity at a Pivotal Moment: The Catalyst CEO Champions For Change report, women represent 27.9% of executives at Champion companies, compared to 23% among their global peers.
Granite CEO Kyle Larkin and more than 70 other Champion CEOs pledge to advance women across ethnic and racial groups into leadership roles. For the first time since the initiative was launched in 2017, a subset of Champion companies provided metrics on promotions, revealing that in 2020, these companies promoted women at nearly equal rates to men. In fact, the group promoted women at slightly higher proportions than men into senior leadership positions.
“Granite is dedicated to ensuring that women have opportunities to lead, and we believe that the more we can do to include women in leadership, the stronger our company will be,” said Larkin. “The goals of Catalyst CEO Champions for Change align with our internal goal to increase women in leadership at Granite and in our industry.”
“We applaud Granite and Kyle, along with the other Catalyst Champion CEOs and their organizations for their continued commitment to DEI initiatives through the challenges of the pandemic,” said Catalyst President and CEO Lorraine Hariton. “It’s critical that we continue to develop the leadership pipeline for women, particularly women of color, if we’re going to see significant gains to build equitable and inclusive workplaces for women.”
The Champion companies also outpaced their peers in the Fortune 500 in women’s representation at the board of directors’ level at 32.2% compared to 26.5%. Women identifying with underrepresented ethnic or racial groups accounted for 7.5% of board members at Champion companies, compared to 5.7% at Fortune 500 companies overall.
This is an inflection point in the history of the women’s movement. Companies can address the disadvantages women endured because of COVID-19 by developing robust initiatives focusing on their re-entry, recruitment, advancement, and retention. The report highlights actions companies can take, including:
- Pinpointing their organization’s greatest areas of opportunity to advance women, particularly women identifying with underrepresented ethnic or racial groups.
- Creating customized solutions to foster equitable advancement, such as flexible work options and sponsorship programs.
- Tracking and measuring progress against defined goals.
Since Catalyst started collecting global data in 2018, Granite and the CEO Champion companies have collectively outpaced global peers in the representation of women across the leadership pipeline. The Catalyst CEO Champions for Change companies represent more than 11 million employees and over $3 trillion in revenue globally.