Historic Day for Women in PA
HARRISBURG, PA − March 23, 2018 − Sponsored by Senator Judith L. Schwank (D-Berks County), Executive Women’s Council of Pittsburgh (EWC) has been instrumental in bringing the Senate Resolution 255 to the forefront. The Resolution, titled “Encouraging equitable and diverse gender representation on the boards and in senior management of companies in Pennsylvania,” currently stands in the Senate Rules and Executive Nominations Committee. A Press Conference encouraging this extraordinary milestone for women in the Commonwealth will occur Tuesday, March 27, 2018 at 10:30 a.m. in the State Capitol Rotunda, Harrisburg, PA.
Featured speakers at the Press Conference include Senator Schwank, Andrea Funk, former CEO of Cambridge-Lee Industries LLC, a pipe supplier in Berks County, Christine Koebley, President of EWC and Heather Arnet, CEO at Women and Girls Foundation of Southwest PA.
The Resolution urges privately held and publicly traded businesses and nonprofits doing business in the Commonwealth to have a minimum of 30 percent women directors by December 31, 2020 progressing toward equal representation of men and women on an annual basis with measurable results. Further, that gender diversity will be good for business in Pennsylvania.
“We know women bring a different perspective to the table and we need that perspective,” Schwank said. “It’s far past time to recognize the potential women have to improve businesses and corporations.”
Co-Sponsors include: Sen. Jay Costa (D-Allegheny), Andrew E. Dinniman (D-Chester), Sen. Wayne Fontana (D-Allegheny), Sen. Daylin Leach (D-Montgomery), Sen. James R. Brewster (D-Westmoreland), Sen. Christine M. Tartaglione (D-Philadelphia), Sen. John P. Sabatina Jr. (D-Philadelphia), Sen. John C. Rafferty Jr. (R-Berks), Sen. Patrick M. Browne (R-Lehigh), Sen. John T. Yudichak (D-Carbon), Sen. Victor J. Hughes (D-Philadelphia), and Sen. Lawrence M. Farnese (D-Philadelphia).
According to the Harvard Business Review, women drive 80 percent of all purchasing decisions in the U.S., but according to the national nonprofit 20/20 Women on Boards, women represent 20 percent of board leadership in Fortune 500 companies. Catalyst, a nonprofit organization supporting women in the workplace says that when Fortune 500 companies are ranked by the number of women on their boards, they report a 42 percent greater return on sales and a 53 percent higher return on equity than the rest.
The Harvard School of Public Health states that more board diversity mirrors client and customer bases, helping businesses understand purchasing and usage decisions. Without women on organization’s boards, valuable opportunities to bring voices representing a huge number of potential and actual customers and clients is missed.
Increasing women in the boardroom as well as hiring women in management widens the talent pool. According to the U.S. Department of Education, for school-year 2016-17, women earned 57 percent of B.A.’s, 58 percent of M.A.’s and 52 percent of doctoral degrees.
For more information, please contact Suzi Neft at 412-721-4320 and suzineft@icloud.com or Jamie Klein at 610-929-2151 and Jklein@pasenate.com.
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