In a letter sent today to Mary Jo White, Chairman of the Securities and Exchange Commission (SEC), Senator Bob Casey (D-PA) urged the SEC to take steps to address the lack of representation of women and minorities on corporate boards.

In his letter, Senator Casey cited several statistics from a recent Alliance Board for Diversity report to support his message, including:

• Only 13% of board seats among Fortune 500 companies are held by minorities.
• Only 15% of board seats among Fortune 500 companies are held by women.

It’s great to see politicians calling attention to the lack of diversity in the upper echelons of Corporate America and demanding common sense changes. Following is the full text of Senator Casey’s letter to Ms. White (printed with permission by a representative from Senator Casey’s office):

Honorable Mary Jo White
Chairman
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549

Dear Ms. White:

I am writing to express my concern about the continuing lack of diversity in corporate boardrooms.  According to a July 2011 report by the Alliance for Board Diversity, only 13 percent of board seats among Fortune 500 companies were held by minorities.  The same report found that women were also seriously underrepresented in Fortune 500 boards, with men making up almost 85 percent of the seats.

This troubling underrepresentation of women and minorities on corporate boards is unfortunately present in Pennsylvania as well.  A December 2010 report by the Urban League of Philadelphia surveyed the top 108 public companies in the Philadelphia region and found that African-Americans make up only 4 percent of board directors.  This is in spite of the fact that African-Americans make up 44 percent of the City of Philadelphia’s population, and 20 percent of the region as a whole.  In the Pittsburgh region, the 2011 Allegheny County Annual Report found that even though women represent a majority of the population in the region, they held only 14 percent of the board seats of Pittsburgh’s top 50 public companies.  Clearly, we must do a better job of encouraging companies to select board members with a variety of different backgrounds and experiences.

I understand the Securities and Exchange Commission (SEC) has taken some steps in recent years to promote diversity in corporate boardrooms, including requiring companies to disclose any diversity policy they have with regard to the selection of board members.  I ask that you please update me on the efforts the SEC has taken so far, the effectiveness of these efforts, and what additional steps are being considered.

America must be the land of opportunity for all of its citizens.  Ensuring diversity among our Nation’s business leaders is an important step towards this goal.  I look forward to working with you to promote diversity in corporate boards.

Sincerely,

Robert P. Casey, Jr.
United States Senator

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Who are the most powerful women in the world? According to the Forbes 2013 World’s Most Powerful Women List, they come from diverse industries, including business, technology, media, politics, philanthropy, real estate, investments, fashion and retail, food and beverage, and entertainment (i.e., celebrities).

Of the 100 power women on the list, a large percentage work in business. However, there is a great deal of overlap in the categories which skews the percentages.

For example, Facebook COO Sheryl Sandberg is included in the technology category, but she certainly belongs in the business category, too. Similarly, Sara Blakely, Founder and CEO of Spanx, appears in the fashion and retail category, but she belongs in the business category as well.

Therefore, the percentage of women in business on the list of the most powerful women in the world in 2013 is higher than it appears on the full Forbes list where each woman is listed within the category Forbes put her in.

With that in mind, you should view the complete list by analyzing each woman, her job, and her company or organization to fully understand how many women in business are included in this list. It turns out that the majority are business women.

Looking at the business and technology categories alone, eight business women appear in the top 25 most powerful women in the world in 2013:

6. Sheryl Sanberg, COO, Facebook

10. Indra Nooyi, CEO, PepsiCo

12. Virginia Rometty, CEO, IBM

14. Ursula Burns, Chairman and CEO, Xerox

15. Meg Whitman, CEO, Hewlett-Packard

18. Maria das Gracas Silva Foster, CEO, Petrobras

20. Irene Rosenfeld, CEO, Mondelez Interntional

23. Safra Katz, CFO, Oracle

At the top of the 2013 list of the most powerful women in the world is German Chancellor Angela Merkel who has appeared on the list for eight of the past 10 years. In fact, nine of the women on the 2013 list also appeared on the first list of the most powerful women in the world, which was published in 2004. The list includes 15 newcomers, too.

You can read more about the list on the Forbes website and follow the link at the beginning of the article to view the full list of 100 power women.

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The number of women on the corporate boards at 5,977 companies in 47 countries across the globe has increased by just 0.5% since 2012 and only 1.7% since 2009.

Those statistics come from GMI Ratings’ 2013 Women on Boards Survey as reported by Kimberly Gladman, Director of Research and Risk Analytics at GovernanceMetrics International. Gladman shared the key study results on the Harvard Law School Forum on Corporate Governance and Financial Regulation website.

The survey revealed that just 63% of these 5,977 companies have at least one female director. Only 13% have at least three women directors, which Gladman identifies as the critical mass that research suggests allows women’s leadership styles to “come to the fore.”

Europe is leading the way in increasing the number of women on corporate boards while the United States and Canada are showing slower diversity growth rates. Lagging even further behind are companies in China, India, and Japan (the lowest in the world). Gladman also reports that women hold a higher percentage of corporate board seats in developed markets (11.8% in 2013, up from 11.2% in 2012) than they do in emerging markets (7.4% in 2013 and 2012).

The complete 2013 Women on Boards Survey and the 2012 Women on Boards Survey are both available for download through GMIRatings.

You can follow the link to learn more research and statistics about women on boards here on Women on Business.

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Guest post by Claudia Chan (learn more about the author at the end of the article):

Role models are one of the most important factors in helping us see what we can become. But minority women can often feel like it’s difficult to find role models who look like the people they see in the mirror each morning.

If your company isn’t diverse, take the initiative to find a role model you can relate to outside your organization. You may have to make more effort to find a successful woman like you whose accomplishments you can learn from, but you will be amazed by the incredible things women of color are doing in our world today.

They may not be in my same field, but I draw inspiration every single day from women like Reshma Saujani, founder of Girls Who Code, Joi Gordon, CEO of Dress for Success, and Zainab Salbi, founder of Women for Women International.

In her book, Lean In, Sheryl Sandberg talks about seeking and speaking your truth at work. For those who grow up in close-knit families of recent immigrants, this can take on even more significance. As the daughter of Chinese immigrants, I understand how strong cultural expectations from family and communities can be for women of color. But, the truth is, we all have to summon the strength to identify and pursue our own passion in our career and life, even if it isn’t what our parents or friends would choose for us.

If your community doesn’t agree with your choice of profession or your desire to fully commit to career success, you have to seek out people who will. Join a professional group or consider hiring a life coach who can help you navigate the challenges of going against the grain of your community’s ideas of what is right for you.

At work, it can be even more daunting to speak up when the company is making a decision that is insensitive to people of different backgrounds, but it’s important to remember that part of the value you bring to your organization is being able to help others see things from a different point of view. Remember that companies are stronger when they consider how their decisions affect everyone, and that your own community perspective is an important part of that.

Find the courage to speak up for diversity initiatives and to take initiative in planning events and programs that address the needs of minorities at your company. Importing and driving change inside corporations is just as significant as doing it in the broader society and world. Remember that your ability to help speak the truth for your community is an asset, not a limitation.

About the Author

Claudia Chan is the founder of ClaudiaChan.com and S.H.E. Summit Week and is a leading expert in the field of female empowerment. She can be reached for one-on-one interactions through her profile on Maestro Market.

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New research from the Conference Board of Canada found that just 42% of male senior executives agree that more women are needed in senior-level positions versus 90% of female senior executives.

Interestingly, the percentage of males who believe more women are needed in the senior ranks increases in inverse proportion to the hierarchical level of the males’ roles. The exact opposite was found among women respondents to the study survey.

Specifically, the following data was recorded when study participants were asked to say whether or not they agreed with the statement, “Organizations should try to increase the number of women in their senior ranks”:

• Senior Executive = 42% of men and 90% of women
• Executive = 44% of men and 77% of women
• Middle Manager = 45% of men and 65% of women
• First-level Manager = 53% of men and 64% of women

As the press release from the Conference Board of Canada explains, “Leadership opportunities, motivations and abilities are three factors that are crucial to women’s advancement. In the research, a fourth factor has emerged as even more crucial – attitudes. These attitudes can have a huge influence on the other factors. Eighty-six percent of women believe there is still a glass ceiling. While 68 per cent of women managers think that the organizations are still run by an “old-boys club”, only 43 percent of men agree.”

The video below offers some more insights into the study, and more information can be found here.

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A research team at the University of Pennsylvania’s Wharton School released a new study that shows, “women are less willing to sacrifice ethical values for money and social status and that women associate business with immorality more strongly,” CNN reports.

The research involved three separate studies with a main element focusing on a series of fictitious job descriptions which study participants were asked to evaluate. These job descriptions included an ethics component. CNN reports that only when ethics were involved did women show less interest in the job. They indicated that they would struggle to perform some of the job requirements and would have to sacrifice their values to excel in the job.

Lead researcher Jessica Kennedy offers key suggestions and considerations for both businesses and women based on the data:

1. Talent Retention: “Businesses can retain talented women by acting more ethically,” explained Kennedy.
2. Job Search: If a worker values ethics highly, then she should analyze the ethos of any organization she considers working for before she applies for a job.

It’s important to point out that the study didn’t find women are more ethical than men in general, but there are significant differences in how men and women think and act in their jobs.

You can follow the link at the beginning of this article to read all of the details about the study.

The post Study Finds Women are More Ethical at Work than Men appeared first on Women on Business.

It is more important than ever to ensure your email marketing campaigns are mobile-friendly. Thanks to responsive mobile email design techniques, it’s also easier than ever to make your email marketing campaigns mobile-friendly.

According to the new “Mobile Friendly Emails” infographic from Email Monks, 75% of companies do not optimize email for mobile viewing yet.

That represents a lot of lost opportunity when you consider that the data also shows 43% of people read and respond to emails using their mobile devices, and an overwhelming 97% of people have at least viewed email messages once on their mobile devices. By the end of 2013, more than 50% of the email subscribers are expected to access their email messages using their mobile devices.

Are you sending mobile-friendly email messages? If not, it should be a top priority in 2013.

Check out all of the statistics in the infographic below.

The post Mobile-Friendly Email Design – What It Is and Why It Matters [Infographic] appeared first on Women on Business.

Guest post by Ramona Clay (learn more about the author at the end of the article):

Can you imagine waking up excited to go to work? Passionate about what you do? Generating money and opportunities that match your level of enthusiasm?

As a career strategist, I help individuals fulfill their passions in life; especially, those in transition – such as baby-boomers, and the aged-old question; “Is this all there is to life?” is one my clients ask frequently. However, I also believe that the common complaint, “I am bored at work and with the drudgery of monotony,” can be a thing of the past.

Be Creative

As a serial entrepreneur, sometimes you need to think outside of the box to get to the next level of life. You also learn how to think on your feet. You have to in order to survive in this present economy.

The principle also applies to employees in companies. You have to think ahead to survive lay-offs, cut-backs, and firings. A lot of companies go out of business because they lack the creativity to remain competitive. Imagine helping your company develop exciting ideas so it can continue and stay in business. How rewarding will that be for the company and for you? It is also likely to give you greater job security.

Solve Problems

Companies are looking for problem-solvers. If you can help eliminate a problem, there is often a promotion and/or raise attached to moving your company forward. Think about it–solving a problem by naturally applying your gift or talent is in your control. Therefore, the opportunity to move to another level becomes a choice. This is how businesses remain competitive and profitable. However, when you function only “within your job title,” I can almost guarantee you will stay in that role for a very long time.

We were born with an inner guidance system that tells you when you are on or off purpose by the amount of joy you are experiencing. The things that bring you the greatest joy are in alignment with your purpose.

Begin to make a difference! Do it not because others will see you and reward you. Do it, because it will start you on your journey to answering that aged-old adage; there is a lot more to life. Yes, I can almost guarantee, life will no longer be a drag.

About the Author

Ramona Clay is a career strategist, author, and coach who focuses on “Helping others re-discover their passions.” You can find her website at http://ramonaclay.bravesites.com, or email her directly at ramonaclay@ymail.com.

The post Getting Ahead! appeared first on Women on Business.

Which companies in Silicon Valley have the most women on boards?

That’s the question Bryce Druzen answered yesterday on the Silicon Valley Business Journal website. Not surprisingly, Druzen found that only 16.9% of Silicon Valley companies have women corporate board members.

You can see how the companies in the tech capitol of the United States rank below and get all of the details about each company by following the preceding link to Druzen’s article.

1. Google Inc.: 10 member board includes 3 women (30%)
2. Hewlett-Packard Co.: 11 member board includes 3 women (27%)
3. Cisco Systems Inc.: 14 member board includes 3 women (21%)
4. Intuit Inc.: 10 member board includes 2 women (20%)
5. Intel Corp.: 10 member board includes 2 women (20%)
6. Juniper Networks Inc.: 10 member board includes 2 women (20%)
7. Oracle Corp.: 11 member board includes 2 women (18%)
8. Yahoo Inc.: 11 member board includes 2 women (18%)
9. Franklin Resources Inc.: 11 member board includes 2 women (18%)
10. Gilead Sciences Inc.: 12 member board includes 2 women (17%)
11. Seagate Technology LLC: 12 member board includes 2 women (17%)
12. Adobe Systems Inc.: 13 member board includes 2 women (15%)

Are you surprised by any of these numbers?

Read more about women on boards:

• 14-Point Roadmap to Improve Boardroom Diversity and Get More Women on Boards
• Women Account for Under 1 in 10 Top Paid Execs and 1 in 5 Board Members in S&P 100
• 29 Fortune 500 Companies Have No Women on Boards
• Find more articles about women on boards

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Do you use independent contractors to provide services to your business? They might not be independent contractors according to IRS rules. In fact, they might be considered employees by the IRS, and you could get into trouble if you’re not treating them as employees complete with necessary payroll tax payments, Medicare and Social Security withholdings, and all of the other things that go into managing an employee.

Differentiating Between Employees and Independent Contractors

According to the IRS, the determination of whether a person is an employee of a company or an independent contractor (typically a self-employed, sole proprietor) is based on evidence related to control and independence that is gathered in three areas: behavioral, financial, and type of relationship.

1. Behavioral

Behavioral considerations relate to instructions (how to perform the work and what tools to use to do the work), training (if the business provides training to teach how the job should be done), and evaluations (performance reviews of any kind). In simplest terms, if a person is required to perform a job in a specific way by the business, if the business trains the person to do the job, or the business evaluates the person’s work, then it’s likely that person would be viewed as an employee by the IRS.

You can learn more about behavioral considerations on the IRS website.

2. Financial

There are a variety of financial considerations that the IRS uses to determine if a person is an employee or independent contractor, including the person’s investment in equipment and tools to do the job for the business, unreimbursed expenses to do the job, and the opportunity to make a profit or experience a loss due to the person’s investment in equipment to do the job for the business.

Two of the easiest ways the IRS uses to determine if a person is an employee or independent contractor are related to how much work the person does for the business and how the person is paid. For example, a true independent contractor can have multiple sources of income and seeks out additional sources of income rather than obtaining his full income from a single business (making that business more of an employer than a client). Also, a true independent contractor is typically paid a flat fee on a project basis rather than on an hourly, weekly, or other time basis.

You can learn more about financial considerations on the IRS website.

3. Type of Relationship

There are a variety of factors considered by the IRS to determine the type of relationship a person has with a company when classifying that person as an employee or independent contractor. Some of these relate to contracts and benefits, but two of the factors that trip up businesses and get them in trouble with the IRS most often are related to the permanency of the relationship and the importance of the services performed by the person.

For example, if the relationship between the business and the person performing services is expected to continue indefinitely, rather than on a project basis, it’s likely that person would be viewed as an employee by the IRS. Furthermore, if the tasks performed by the person are key to the business, that person will probably be considered an employee by the IRS.

You can learn more about relationship considerations on the IRS website.

Next Step for Businesses

The IRS offers a form that you can submit to determine if a person is an employee of your business or an independent contractor (Form SS-8, Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding). It can take six months for the IRS to complete it’s review.

Once you get the appropriate determination, you’ll know the steps you need to take to be in compliance with IRS regulations related to employees versus independent contractors. You’ll also know whether you should file tax forms for employees or tax forms for independent contractors.

Many large and small companies have been required to pay fines and reclassify workers after the IRS reviewed the use of employees versus independent contractors at those companies. Some larger companies have even ended up in class action lawsuits and paid sizable settlements. Don’t risk the same fate. Do your due diligence and classify your workers correctly now to avoid fines and trouble later.

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