Catalyst Updates Eligibility Criteria for Its Preeminent Catalyst Award
PR90768
NEW YORK, July 21, 2021 /PRNewswire=KYODO JBN/ --
-- Companies now will be required to have more executive representation for
women, particularly women of color
The Catalyst Award (
)--Catalyst's coveted signature recognition of diversity, equity, and inclusion
(DEI) honoring innovative and impactful organizational initiatives that
accelerate the advancement of women through workplace inclusion--is updating
its criteria.
Logo - https://mma.prnewswire.com/media/732308/Catalyst_Tagline_Logo.jpg
The updated eligibility criteria bolster the required representation of women,
particularly women from marginalized ethnic and racial groups, at the executive
level for organizations to reflect the practice of best-in-class companies to
create equitable organizations.
For the 2023 Catalyst Award:
- Women must represent at least 20% of Band 1 executive leaders
(those one or two reporting levels from the CEO or managing partner).
- For initiatives headquartered in any region where it is legal to
collect data on race/ethnicity:
- There must be one woman from a marginalized ethnic or racial group
on the board of directors or in Band 1.
- In addition, in companies whose Band 1 exceeds 20 people, 5% of
Band 1 employees must be women from marginalized ethnic or racial
groups.
Supported by Catalyst research on the importance of women's representation at
the executive level, the new criteria requiring at least 20% representation of
women in the top band is an increase from 10% and better reflects the standards
to which companies should be held.
"The Catalyst Award reflects progress, not perfection, and holds companies to a
standard of excellence. Today we're raising our standards to keep the Catalyst
Award at the forefront of diversity, equity, and inclusion," said Catalyst
President & CEO Lorraine Hariton (
). "Our new requirements ensure that Catalyst Award-winning initiatives will
continue to showcase exemplary, real-life examples of how to create workplaces
that work for women and everyone."
Given annually to workplace initiatives globally since 1987, the Catalyst Award
has recognized 103 initiatives from 91 organizations (
). Catalyst Award-winning initiatives must meet a minimum standard of
excellence and include data to assess impact. Once eligible, initiatives
undergo a year-long, rigorous evaluation process.
Winners are recognized at the annual Catalyst Awards Conference and Dinner, one
of the largest gatherings of CEOs worldwide that is also attended by thousands
of business leaders, executives, and DEI professionals around the world.
The application for the 2023 Award will be posted on the Catalyst website in
early 2022. Learn more about the Catalyst Award (
).
# # #
About Catalyst
Catalyst (
) is a global nonprofit working with some of the world's most powerful CEOs and
leading companies to help build workplaces that work for women. Founded in
1962, Catalyst drives change with pioneering research, practical tools, and
proven solutions to accelerate and advance women into leadership--because
progress for women is progress for everyone.
Contacts:
Naomi R. Patton
Vice President, Global Communications
Catalyst
npatton@catalyst.org
Stephanie Wolf
US Communications Consultant
Catalyst
stephanie@stephaniewolfpr.com
Francine Beck
Canada Communications Consultant
Catalyst
francine@fbstrategiesgroup.com
Frances Knox
EMEA Communications Consultant
Catalyst
frances@frankly-pr.co.uk
SOURCE: Catalyst
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