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FBG Holdings Finds Success in Diversity

Thursday, March 28, 2019

One of the first studies to attempt to quantify women in the workforce was published shortly after the outbreak of the Civil War by groundbreaking social researcher Virginia Penny, whose 1862 book "How women can make money married or single, in all branches of the arts and sciences, professions, trades, agricultural and mechanical pursuits" documented 533 occupations.

Today, with more than 75 million women over the age of 16 in the workforce, according to the Bureau of Labor Statistics, the range of occupations open to women in the U.S. is nearly unlimited, at least in theory, with women accounting for nearly half of the labor force.

Despite their gains, however, women still face serious challenges in the workplace. A recent study conducted by the Thomson Reuters and Rockefeller foundations found equal pay and harassment were among the top concerns of working women in countries with advanced economies. The #MeToo movement has been a disappointing reminder of the limits of gender equality in America, as newly-outspoken victims of sexual harassment and retaliation reminded us how far we still have to go.

A Stalled Path to the C-Suite

Complicating efforts to change the culture is the fact that women still occupy far too few positions of real leadership. Despite decades of efforts, initiatives, and even increasing pressure from investors, women make up barely 5% of Russell 3000 CEOs.

statistics on number of female CEOs

 

A 2018 McKinsey study done in partnership with LeanIn.org found that commitment to diversity had "not translated into meaningful progress" for women in the workplace. "The proportion of women at every level in corporate America has hardly changed," the study's authors write. "Progress isn’t just slow. It's stalled."

The study found that early gaps in hiring and promotions create disparities that never go away – even when the rate of hiring and promotion of women improves at more senior levels. Until those early gaps are closed, the study warns, "women will remain underrepresented."

Real progress is going to require more.

Women Play Essential Roles at FBG Holdings

At FBG Holdings, we are committed to hiring and promotion practices that provide us with the diversity of viewpoint and experience we need to succeed. We don’t just hold diversity as one of our company values, we recognize it as a key source of strength in the marketplace.

Women are represented across our company in a wide range of leadership roles and have been integral to our success at every level. They include Cachet Financial Services President Aberash Asfaw who serves as FBG's CFO and participates on the FBG board. Asfaw was also Cachet’s first employee.

Brandi Utria is vice president & director of business development for FBG; Diana Sun is our controller; Jeanne Rogers is vice president of marketing.

FBG's inclusivity extends across its other companies as well, where Micheline Chabana is president of Payroll Tax Management, SBS Payroll and Time Rack and Summer Poletti is vice president of sales for Payroll Tax Management and SBS Payroll. Leigh Hansen is vice president of operations for Payroll Tax Management, SBS Payroll and Time Rack; Hanan Succar is director of operations for Cachet Financial Services; and DeAnna Martindale is director of sales and operations at Time Rack.

FBG Family

Diversity is a Strength at FBG

We're innovators in the payroll industry and that means refusing to accept the status quo. We're committed to hiring practices that continue to provide us with the diverse and talented workforce we rely on to provide the most innovative and high-quality service across the payroll landscape.

Our four companies – Cachet Financial Services, Payroll Tax Management, SBS Payroll and Time Rack – allow us to provide our clients with the solutions they need to achieve success in today's market. Call us or click on the link below to learn more about FBG Holdings and our services.

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