AUSTIN, MINN. – In its inaugural ranking of the World’s Top Female-Friendly Companies, Forbes magazine identified Hormel Foods Corp. as one of the 300 firms included in the list, the company announced on Dec. 28. Hormel said it has focused on establishing a female-friendly culture as a long-term commitment. One way the company achieves this is maintaining employee resource groups, including its Women in Leadership and Women’s Insight Network to provide female employees with a career path and advancement opportunities.
Forbes, in partnership with Statista, surveyed 80,000 women across 40 countries and asked them to rate their employers on factors such as parental leave, pay equity and how well the companies used their positions to promote equality,
"The reputation of Hormel Foods as one of the world's best employers is grounded in the belief that our differences truly make us stronger," said Deanna Brady, executive vice president and group president of the Refrigerated Foods business unit and also among Hormel’s 11 women in the company’s leadership and officer group.
“Our culture supports inclusion and diversity throughout our global operations, with opportunities, programs and policies that are female-forward. We have a board of directors with great women leaders who serve as mentors and advisors,” Brady said. “In addition, we have a leadership team that has some of the brightest and most talented women leaders in the Fortune 500 ranks leading key business and functional areas, and a pipeline of emerging female leaders poised to continue the trajectory well into the future. We are proud to be recognized for our work and are committed to doing even more.”
Forbes said COVID-19 halted progress for many women in the workplace.
According to Forbes, “By January 2021, nearly 3 million women had dropped out of the workforce in the US alone,” translating to 64 million jobs lost and $800 million in earnings during the past year.
It is estimated that the setback increased the time expected to close the gender pay gap from 99.5 years to 135.6 years, according to the World Economic Forum.
In the survey, Hormel ranked No. 171, with other food companies also making the list, including: the Hershey Co. (No. 1), Wendy’s Co. (No. 89) and Campbell Soup Co. (no. 294).More information, including the entire ranking, is availablehere.