KeyBank, based in Cleveland, Ohio, provides investment management, consumer finance, investment banking products and retail and commercial banking to companies as well as individual customers. They were founded in 1994 by way of a merger between Society Corp. of Cleveland and KeyCorp. Society Corp., also founded in Cleveland, Ohio, was established as a mutual savings bank by Samuel H. Mather in 1867 — then titled the Society for Savings.
Why are they the no. 1 best company for a woman to work for? Let’s count the ways.
Of the companies 14,000+ payroll, over half (62 percent) are female. As of this writing, 272 senior management positions (30 percent of all senior management positions) are occupied by women. KeyBank’s leader, CEO Beth E. Mooney, is the first female CEO of a top 20 U.S. Bank. The company’s board of directors is nearly half female (5 out of 12 are women). Current chief positions held by women include: Annette Hazapis, chief administrative officer of Key Community Bank, Kimberly Manigault, chief financial officer or Key Technology and Operations and Maria Teresa Tejada, chief credit officer in Risk Management.
KeyBank saw a notable increase in female representation within their executive leadership team, from 18 percent in 2010 to 30 percent in 2013. The company attributes their increase in female leadership to the Key Executive Women’s Network (KEWN), an in-house leadership program established in 2004.
“KEWN expands opportunities for women to achieve full leadership potential by supporting career development, mentoring, coaching, networking and business development initiatives,” says a company spokesperson. “Professional development was a primary focus area for KEWN in 2013, and included Connections Café sessions in several markets for mid-level employees, as well as the annual KEWN Leadership Experience that provides a curriculum for emerging and high-potential leaders to deepen business acumen, develop professional growth strategies and build networks with senior executives.”
KeyBank also provides a four-pronged approach to work-life balance: flextime (by altering the start and end times of each traditionally scheduled work day), compressed work weeks (so that a full work week may be accomplished in less than five days or alternating weeks), job sharing (dividing responsibilities with another employee) and Mobile@Key, which permits remote working. Finally, KeyBank offers $5,000 in adoption assistance to employees who have adopted a child once per calendar year. It’s no wonder our pick for number one possesses a robust female retention rate of 82 percent.