BOSTON – June 16, 2020 – Turbonomic, the leader in Application Resource Management, today announced that it has taken the ParityPledge®, building on its commitment to create opportunity for women in leadership positions. The ParityPledge asks that companies commit to interviewing at least one woman for every open position for Vice President and above, including the C-Suite and Board of Directors. The ParityPledge is an initiative of Parity.org, a 501(c)(3) non-profit organization focused on bringing gender equality to the highest levels of business.
“One of our most important strategic initiatives at Turbonomic is to create equal opportunity for employees at every level of our organization,” says Brent Wilkinson, Chief People Officer of Turbonomic. “Signing the ParityPledge is a way to keep Turbonomic accountable for our diversity and inclusion goals we have set as a company. By making a public commitment to increasing the number of women in leadership positions, we hope we inspire other companies to do the same.”
“Parity.org was founded to correct the stark reality of gender imbalance at the very top of companies today,” said Cathrin Stickney, Parity.org founder and CEO. “While women represent 51 percent of the population, barely 20 percent of S&P 500 corporate executive teams and boards are represented by women. We are thankful for organizations like Turbonomic that are willing to become a role model for change. We believe their public commitment and example will help us realize exponential progress toward reaching parity at the top.”
McKinsey & Company’s latest Diversity Report explores the relationship between diversity and business value. One of their most notable findings is that companies in the top quartile for gender diversity on executive leadership teams are 21% more likely to outperform on profitability and 27% more likely to have superior value creation. Conversely, companies in the bottom quartile for both gender, ethnic and cultural diversity are 29% less likely to achieve above-average profitability than other companies.
In the last year, Turbonomic has launched two inaugural Employee Resource Groups (ERGs) – DevelopHer and People of Color in IT (POCIT). The mission of these groups is to empower women, people of color, and allies to work together in creating a healthy workplace environment by supporting and influencing Turbonomic’s Diversity & Inclusion initiatives – including attracting top talent from diverse talent pools and providing opportunities for advancement through formal mentorship programs, workshops, volunteering, and industry conferences. The ParityPledge is a critical extension of the work that these ERGs do in creating a culture of opportunity and empowerment at Turbonomic.
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Parity.org is a 501(c)(3) not-for-profit organization dedicated to gender equality at the highest ranks of business leadership. You can follow Parity.org on Facebook, LinkedIn, Twitter, and Instagram.
Turbonomic Application Resource Management (ARM) continuously assures that applications get precisely the resources needed to ensure performance and lower cost while maintaining policy compliance. Privately held, Boston-based Turbonomic is one of the fastest-growing software companies, backed by leading venture firms including Bain Capital Ventures, General Atlantic, Globespan Capital Partners, Highland Capital Partners and Iconiq Capital. To learn more, visit turbonomic.com.
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Parity Pledge® is a trademark of Parity.org.