Principal Financial Group has been named one of the 2016 “NAFE Top Companies for Executive Women” by the National Association for Female Executives, to recognize American corporations that have moved women into top executive positions and created a culture that fosters the careers of talented women.

“I am happy to report that female representation in senior management positions continues to inch up at the NAFE Top Companies,” says Dr. Betty Spence, NAFE President. “Though progress of women into senior positions has slowed nationally, the 2016 NAFE Top Companies are leading the way in moving women in power positions where they have the influence to innovate and boost profits.”

The full list of this year’s winners is posted on workingmother.com and on nafe.com.

Highlights of the 2016 NAFE Top 60 Companies are:

  • More than half (52 percent) of the companies on the 2016 NAFE Top 60 have at least four women on their boards of directors. An average of 28 percent of board of director members are women, compared with 19 percent at S&P Companies.
  • The number of NAFE Top 60 Companies led by women CEOs has dropped two percentage points since last year to 8 percent, but still outpaces Fortune 500 companies with 5 percent.
  • Every NAFE Top Company CEO requires a women’s advancement executive to report to him/her on women’s advancement metrics, and 92 percent of them review senior-level succession plans for gender equity.
  • Women at the NAFE Top Companies last year received 44 percent of promotions to the manager level and above. The largest proportion of promotions going to women is at the manager level; however, men still receive the majority of promotions at all levels.

“I believe companies that focus on gender equality as well as other diversity and inclusion efforts are better poised to be successful in the near as well as long-term,” said Beth Raymond, senior vice president of human resources at The Principal®. “This is a part of our culture and commitment, to provide all team members with opportunities to reach their potential.”

Subha V. Barry, Vice President and General Manager, Working Mother Media, says, “The NAFE Top Companies are where women are increasingly making the decisions that affect their company’s future and its bottom line. They are setting standards for advancing women into positions to lead businesses, set policy and take profit-and-loss responsibility.”

About the Methodology
The 2016 NAFE Top Companies application includes some 200 questions on female representation at all levels, especially the corporate officer and profit-and-loss ranks. The vetting process includes tracking access and usage of programs and policies that promote the advancement of women as well as the training and accountability of managers in relation to the number of women who advance. In order to be eligible for the NAFE Top Companies survey, entrants must have a minimum of 1,000 employees, two women on the Board of Directors and be a public or private company. NAFE also separately names the Top 10 companies in the nonprofit sector.

About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $527.4 billion in assets under management2 and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

About NAFE
The National Association for Female Executives (NAFE), founded in 1972, serves 20,000 members nationwide with networking, tools and solutions to strengthen and grow their careers and businesses. Working Mother magazine publishes the annual NAFE Top Companies list. NAFE.com provides up-to-date information, community for women in business and access to member benefits. NAFE is a division of Working Mother Media, owned by the Bonnier Corporation.

1 “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2 As of Dec. 31, 2015.