WEX Named to Newsweek’s America’s Greatest Workplaces for Diversity, Women in 2024
April 02 2024 - 8:00AM
Business Wire
Employees identifying as female represented
approximately 53 percent of WEX’s total global workforce, 55
percent of executive officers at the end of 2023; and 42 percent of
WEX’s Board of Directors identifies as female.
WEX (NYSE:WEX), the global commerce platform that simplifies the
business of running a business, has been named as one of America’s
Greatest Workplaces for Diversity and America’s Greatest Workplaces
for Women for 2024 by Newsweek and Plant-A Insights Group. These
Newsweek awards signal external recognition of the efforts WEX is
making toward its 2025 business aspirations to aspire to gender
parity in leadership roles and to increase employees of color in
U.S. leadership roles to be more representative of national
demographics and the customers and partners WEX serves.
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WEX was named one of America’s Greatest
Workplaces for Women in 2024 by Newsweek and Plant-A Insights
Group. (Graphic: Business Wire)
“Diverse representation in leadership and pay parity, ensuring
that equal talent has equal opportunity, and supporting the
advancement of women and employees of color in leadership, are key
for WEX,” said Melissa Smith, WEX Chair, Chief Executive Officer,
and President. “These metrics illustrate our strong belief that the
more diversity of thought and experience we cultivate at WEX, the
stronger and more successful we are as a company.”
Diversity and Leadership Representation at WEX
U.S. Department of Labor research from 2023 indicated the
country’s gender-based wage gap remained nearly unchanged over the
past decade, finding that women who were working full-time last
year made 83.7 percent of what men made. That is equivalent to an
approximate difference of $10,000 annually.
The WEX Board of Directors has set 2025 business aspirations for
the company, which are to aspire to gender parity in leadership
roles and to increase employees of color in the U.S. in leadership
roles to be more representative of national demographics and the
customers and partners WEX serves. Furthermore, the Board of
Directors monitors pay parity.
WEX has maintained global gender pay parity for comparable roles
as of 2022. Additionally, as of the company’s last reported metrics
for 2023:
- 53 percent of WEX’s total global workforce identifies as
female, as do
- 55 percent of the company’s executive officers, and
- 42 percent of its board of directors.
People of color represented approximately:
- 23 percent of WEX’s workforce in the U.S.,
- 20 percent of its U.S. executive officers, and
- 17 percent of the company’s board of directors.
Additionally, during 2023, WEX’s global female representation in
leadership roles was approximately 45 percent and U.S. employees of
color representation in leadership roles was approximately 14
percent.
In 2022, WEX performed a companywide diagnostic assessment to
determine how to make meaningful progress on its most important
cultural priorities over the next few years; took steps to refresh
its employee value proposition, acquisition and retention, talent
and leadership development; and standardized the employee resource
groups program.
“The skills and ideas our diverse, talented, and engaged
employees bring to the table are key to WEX’s success,” said
Melanie Tinto, WEX’s Chief Human Resources Officer, who has
overseen these recent initiatives. “I could not be more proud of
the more than 7,000 WEX employees around the world who embody these
virtues daily.”
About the Awards
The America's Greatest Workplaces for Diversity 2024 honor
highlights companies who have demonstrated a “commitment to
recruiting and advancing individuals of various ages, races,
genders, sexual orientations and abilities.” WEX earned a full five
out of five stars as part of the software and internet service
category. This survey of over 220,000+ individuals included
representation at over 1.5 million companies in America. The
selection process involved analyzing public data, interviewing HR
professionals, and conducting an anonymous online survey among
diverse U.S. employees. The survey generated 1.5 million company
reviews covering topics such as corporate culture and working
environments.
“Diversity is a widely discussed topic – and it remains a
crucial factor as people look for an employer or a business
partner,” said Nancy Cooper, Global Editor in Chief, Newsweek.
“Newsweek and market-data research firm Plant-A Insights are proud
to introduce ‘America’s Greatest Workplaces for Diversity 2024,’
highlighting companies that are committed to offering diverse and
inclusive work environment.”
The America's Greatest Workplaces for Women 2024 list
highlighted “companies that are taking steps to root out and
address workplace inequities.” As a result of this recognition, WEX
is one of “1,000 U.S.-based companies ranked highest when evaluated
on metrics including compensation, work-life balance and proactive
management on diversity.” Like the Diversity recognition, WEX
earned a full five out of five stars as part of the software and
internet service category. This survey of over 142,000 women
included representation at over 848,000 companies in America.
“Despite advancements in workplace equality, women still
encounter significant barriers in terms of leadership
opportunities, fair compensation and other forms of discrimination.
Recognizing and addressing these challenges are crucial for
progress,” said Cooper. "It is important to highlight companies
that are leading the way in fostering a culture of equality and
respect.”
About WEX
WEX (NYSE: WEX) is the global commerce platform that simplifies
the business of running a business. WEX has created a powerful
ecosystem that offers seamlessly embedded, personalized solutions
for its customers around the world. Through its rich data and
specialized expertise in simplifying benefits, reimagining mobility
and paying and getting paid, WEX aims to make it easy for companies
to overcome complexity and reach their full potential. For more
information, please visit www.wexinc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240402416488/en/
Media: WEX Julie Lydon, 415-816-9397
Julie.Lydon@wexinc.com
Investors: WEX Steve Elder, 207-523-7769
Steve.Elder@wexinc.com
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