Women may be making strides breaking onto corporate boards nationwide, but studies show that Philadelphia’s top 100 companies are lagging behind.
Emma Sabin, a vice-president from Catalyst Advisory Services a management consulting firm, testified before Philadelphia City Council that having fewer women on boards affects how many people get hired throughout a company.
“Women board directors are predictors of an increased representation of women corporate officers and appear to have an even greater effect on line or profit and loss positions held by women,” said Sabin.
Terry Gillen spoke for Mayor Michael Nutter, saying the city is working to increase diversity.
“There is a qualified talent pool that is not being tapped to increase gender diversity,” said Gillen. “We will work with city council and with members of interested organizations to determine next steps.”
Councilman Wilson Goode even suggested the possibility of putting targets for female participation on boards for businesses getting city contracts.