For women, top spots still elusive

October 23, 2011|By Jane M. Von Bergen, Inquirer Staff Writer
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  • Teresa Bryce Bazemore, president of Radian Guaranty Inc., has benefited from the kind of networking that advocates urge women in business to undertake.
  • Teresa Bryce Bazemore, president of Radian Guaranty Inc., has benefited from the kind of networking that advocates urge women in business to undertake. (TOM GRALISH / Staff Photographer)
  • Guests watch a video during the recent breakfast meeting of the Forum of Executive Women at the Loews Philadelphia Hotel. (TOM GRALISH / Staff Photographer)
  • Concetta Bencivenga, executive vice president of the Please Touch Museum, asks a question during the breakfast meeting of the Forum. (TOM GRALISH / Staff Photographer)
  • Christine Walker (left), a vice president at BNY Mellon Wealth Management and Kristina Parker (center) and Lori Greenwalt, both partners at KPMG listen, to speakers during the Forum breakfast. (TOM GRALISH / Staff Photographer)

When Teresa Bryce Bazemore, now president of Radian Guaranty Inc., started her first job as a lawyer, she noticed something disturbing.

She was working hard, but others, specifically men, were doing less and getting more recognition, more advancement, more opportunities.

Something, she told herself, had to change.

And that's the point of the latest "Women on Boards" report from the Forum of Executive Women, this year presented at a breakfast meeting attended by 600 at the Loews Philadelphia Hotel on Friday.

Something should change, but very little is.

For 11 years, this organization of local female leaders has issued its report - and each year the findings are virtually the same.

Since 2005, women's level of participation in the executive suites and boards of directors of the region's top 100 companies has barely budged.

At that, it has been more a matter of diversity by attrition, as women have managed to hang on to their board seats and executive positions even as the number of directorships and top jobs has shrunk with the economy.

What does 11 years of stagnation say about sexism in corporate Philadelphia? Bazemore points to one issue: It's just human nature for mentors to give high-profile assignments "to people who remind them of themselves."

It can, then, become a self-perpetuating trend - if there are fewer women and minorities in power, then there are likely to be fewer people of the same type moving along the pipeline.

To overcome that, she said, women need to deliberately cultivate male mentors, executive women must to try harder to mentor their younger peers, and companies should institute practices that can upend typical patterns.

Nationally, the Philadelphia region ranks in the middle regarding the profile of women in the community of executives and board members.

Minnesota has the highest percentage of female executives; Texas has the lowest, with three out of four Lone Star companies having no female executive officers, according to research by ION, the InterOrganization Network, an affiliation of organizations.

Fortune 500 companies tend to have more female board members, but Philadelphia has only about a dozen Fortune 500 companies, the ION report said. Women hold 16.5 percent of the region's Fortune 500 company board seats - again, in the middle, with Minnesota at the top with 20.1 percent and Florida, at 12.6 percent, at the bottom, the ION report, released in March, said.

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