March 5, 2022
Strategically investing in women is not only good for [a brand’s] personal and professional growth, it’s also good for business.
—Mary Beth Laughton, Athleta CEO
The gist:
Mary Beth Laughton, Athleta’s CEO started in business in the 1990’s, she remembers that,“only six women had ever broken the proverbial glass ceiling to become CEOs of Fortune 500 companies.” Last year, “the number of women running businesses on the Fortune 500 hit a record of 41,” of which she is now a member. (Athlets is a billion dollar brand.)
Here is her advice to other brands + companies that want to, ‘leverage opportunities to be catalysts for change.’
Establish equal pay for women
- Paying women in the workplace fairly shouldn’t be an innovative approach to doing business. It must be basic table stakes for any company.
- Use independent data validation for unbiased results, AND use internal assessments to determine pay equity + build inclusive workplaces
Elevate women-owned brands
- 42% of all businesses in the US are women-owned (Women’s Business Enterprise National Council (WBENC). But they don’t see the same revenue or investments that businesses owned by men do. If you are a retail business support them with dollars and give them visibility.
Create equitable supply chains
- About 190 million women work in the global supply chain industry. Many women garment workers live and work in countries that have constrained social safety nets in place, which often means limited access to education and health care — both of which play key roles in enabling upward personal and professional mobility.
- For the past 15 years, Gap Inc. has combatted this disparity head-on through its Personal Advancement & Career Enhancement (P.A.C.E.) program, which provides women in the global apparel industry and surrounding communities with foundational life skills, technical training and support to advance in their personal and professional lives.
Elevate women-owned brands
- Clean-beauty retailer Credo recognized the significant gender gap that exists in beauty brands’ leadership teams. To bring attention to this disparity, Credo publicly shares the percentage of women-owned products it carries.
Seek partnerships that support women
- Select partners that match your mission and values. When that mission is centered around women, those long-term meaningful relationships help ensure women are supported and have the same opportunities as men.
- As part of Athleta’s growth strategy, it has partnered with Allyson Felix, Simone Biles and Alicia Keys to not only collaborate on traditional product offerings, but also advise on and amplify initiatives like the Power of She Fund, established in 2020 to provide grants aimed at recognizing female empowerment.
Read more of Mary Beth Laughton’s post here.
