Three Virginia companies cited for programs for executive women

Published February 10, 2014 by Robert Powell, III

Three Virginia-based companies have been named one of the 2014 “NAFE Top Companies for Executive Women” by the National Association for Female Executives (NAFE).

The companies are McLean-based Capital One Financial Corp., McLean-based Freddie Mac and Falls Church-based Northrop Grumman Corp.

NAFE praised Capital One’s flexible schedules and designed work spaces. The bank also offers free backup child care, backup elder care and 16-week maternity leave.  Also, anyone who saves $2,000 in a flexible dependent care spending account is eligible for an employer match of $1,000.

At Freddie Mac, NAFE noted that a diversity dashboard monitors corporate divisions in which women lead or lag and pointed out that mentoring circles are available to help women accelerate their career development. Employees also can obtain a master’s degree in management at the headquarters, studying with American University professors.

NAFE found that Northrop Grumman women represent 43 percent of elected officers, 39 percent of the CEO’s direct reports and 30 percent of the members of the corporate policy council. Targets exist for promoting women to the executive level, and dedicated leadership programs have been available to women for years.

The 2014 NAFE Top Companies application includes more than 200 questions on female representation at all levels, especially the corporate officer and profit-and-loss ranks.

The vetting process includes tracking access and usage of programs and policies that promote the advancement of women as well as the training and accountability of managers in relation to the number of women who advance.

In order to be eligible for the NAFE Top Companies survey, entrants must have a minimum of 1,000 employees and have two women on the board of directors. NAFE also separately names the Top 10 companies in the nonprofit sector.