HOPE Outlines Path to Executive Leadership for California's Latinas
Newswire Services
February 03, 2010
HOPE´s Report Reveals Absence of Latina Executives in California´s Top Corporations.
Los Angeles, CA – At the Hispanas Organized for Political Equality (HOPE) 1st Annual Visionary Leaders Luncheon on Friday, the organization announced key findings from it´s report, "Missing: Latinas in Executive Leadership in California´s Corporations," conducted throughout 2009. The report found that of the 400 largest public companies in California, Latina executives lead none. HOPE´s report also encourages California´s Education System and state-based Corporations to address the current deficit of Latinas in executive positions in California. The report, commissioned by Sempra Energy, was initiated to understand the presence of Latinas in California´s corporate sector.
"Our study indicates that Latinas are grossly under-represented in executive leadership in California," said Helen Torres, Executive Director and CEO of HOPE. "We want to thank our business partners, especially Farmers Insurance for their support of this event and for their dedication to the advancement of Latinas in the business sector. We will continue to work hard to provide the programs and services to help Latinas achieve their fullest potential."
Key findings of HOPE´s research initiative include:
>> While Latinas represent 14% of California´s workforce, their presence in corporate executive positions is virtually nonexistent.
>> Education and career path decisions have tremendous impact on Latinas´ abilities to assume executive leadership. The majority of Latinas who are currently in management positions are in the service industries, such as human resources and public affairs. Latinas are not as visible in other areas from which most executives are selected, such as finance, business management and legal.
>> Latina managers in California´s corporations aspire to reach executive level positions, but to a certain extent do struggle with the personal sacrifices that accompany an "executive" title.
As the premiere Latina leadership, advocacy and education organization in California, HOPE´s recommendations for the continuous development of Latina leaders statewide include:
>> Corporations are encouraged to provide Latinas with internship opportunities and training courses in core business functions, create an environment that supports Latina advancement and make improvements in corporate policies that promote work-life balance.
>> California´s public education system from K-12 through public colleges and universities are urged to encourage Latinas to pursue math, science and business curriculums.
>> Latinas in middle management in the corporate sector should pursue opportunities to enhance their core business skills, seek out a mentor, and form peer support groups.
HOPE´s "Missing: Latinas in Executive Leadership in California´s Corporations" findings and recommendations were announced and discussed earlier today amongst a panel of business leaders that included Alysia Vanitzian, Head of Talent Management, North America, Farmers Insurance Group; Arnold J. Kleiner, President and General Manager ABC 7, and Kimberley Freeman, Regional Director of Community Partnerships, Sempra Energy. Power 106 FM´s Wendy Carrillo moderated the discussion. Farmers Insurance and HOPE hosted the event.
Farmers Insurance has partnered with HOPE for over eight years supporting the organization´s dedicated Latina-advancement programs statewide. Farmers as a corporation supports initiatives that promote the advancement of women entrepreneurs; and as a result of this, Farmers´ Latina agency force grew by 14% versus the year prior despite the economic downturn in 2009.
"As Farmers Insurance´s first Latina Officer, I am proud to represent a company that acknowledges the impact Latinas have on their business and provides the support necessary to allow Latinas to achieve their career goals," said Luisa Acosta-Franco, Vice President, Multicultural Marketing, Farmers Insurance.
To access the full report "Missing: Latinas in Executive Leadership in California´s Corporations" please contact Helen Torres at htorres@latinas.org.
Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit our Web site at www.farmers.com.
HOPE Mission: Hispanas Organized for Political Equality is a nonprofit, nonpartisan organization committed to ensuring political and economic parity for Latinas through leadership, advocacy and education to benefit all communities and the status of women.
Los Angeles, CA – At the Hispanas Organized for Political Equality (HOPE) 1st Annual Visionary Leaders Luncheon on Friday, the organization announced key findings from it´s report, "Missing: Latinas in Executive Leadership in California´s Corporations," conducted throughout 2009. The report found that of the 400 largest public companies in California, Latina executives lead none. HOPE´s report also encourages California´s Education System and state-based Corporations to address the current deficit of Latinas in executive positions in California. The report, commissioned by Sempra Energy, was initiated to understand the presence of Latinas in California´s corporate sector.
"Our study indicates that Latinas are grossly under-represented in executive leadership in California," said Helen Torres, Executive Director and CEO of HOPE. "We want to thank our business partners, especially Farmers Insurance for their support of this event and for their dedication to the advancement of Latinas in the business sector. We will continue to work hard to provide the programs and services to help Latinas achieve their fullest potential."
Key findings of HOPE´s research initiative include:
>> While Latinas represent 14% of California´s workforce, their presence in corporate executive positions is virtually nonexistent.
>> Education and career path decisions have tremendous impact on Latinas´ abilities to assume executive leadership. The majority of Latinas who are currently in management positions are in the service industries, such as human resources and public affairs. Latinas are not as visible in other areas from which most executives are selected, such as finance, business management and legal.
>> Latina managers in California´s corporations aspire to reach executive level positions, but to a certain extent do struggle with the personal sacrifices that accompany an "executive" title.
As the premiere Latina leadership, advocacy and education organization in California, HOPE´s recommendations for the continuous development of Latina leaders statewide include:
>> Corporations are encouraged to provide Latinas with internship opportunities and training courses in core business functions, create an environment that supports Latina advancement and make improvements in corporate policies that promote work-life balance.
>> California´s public education system from K-12 through public colleges and universities are urged to encourage Latinas to pursue math, science and business curriculums.
>> Latinas in middle management in the corporate sector should pursue opportunities to enhance their core business skills, seek out a mentor, and form peer support groups.
HOPE´s "Missing: Latinas in Executive Leadership in California´s Corporations" findings and recommendations were announced and discussed earlier today amongst a panel of business leaders that included Alysia Vanitzian, Head of Talent Management, North America, Farmers Insurance Group; Arnold J. Kleiner, President and General Manager ABC 7, and Kimberley Freeman, Regional Director of Community Partnerships, Sempra Energy. Power 106 FM´s Wendy Carrillo moderated the discussion. Farmers Insurance and HOPE hosted the event.
Farmers Insurance has partnered with HOPE for over eight years supporting the organization´s dedicated Latina-advancement programs statewide. Farmers as a corporation supports initiatives that promote the advancement of women entrepreneurs; and as a result of this, Farmers´ Latina agency force grew by 14% versus the year prior despite the economic downturn in 2009.
"As Farmers Insurance´s first Latina Officer, I am proud to represent a company that acknowledges the impact Latinas have on their business and provides the support necessary to allow Latinas to achieve their career goals," said Luisa Acosta-Franco, Vice President, Multicultural Marketing, Farmers Insurance.
To access the full report "Missing: Latinas in Executive Leadership in California´s Corporations" please contact Helen Torres at htorres@latinas.org.
Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit our Web site at www.farmers.com.
HOPE Mission: Hispanas Organized for Political Equality is a nonprofit, nonpartisan organization committed to ensuring political and economic parity for Latinas through leadership, advocacy and education to benefit all communities and the status of women.
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