At Sunrise Banks, March is a reason to celebrate, reflect, and progress as we honor both Women’s History Month and B Corp Month.
Women's Roles Have Always Been Important
Women’s History Month is a celebration, commemoration, and observance of the important role women have had throughout history and continue to have today. For those of us in the financial services industry, it’s a good time to look back at how far women have come in our communities and across the country. But we must also prepare for the progress required to continue narrowing the gender gap in the banking industry and beyond.
Other advancements such as the passing of the Family and Medical Leave Act (FMLA) in 1993 and the Lilly Ledbetter Fair Pay Act in 2009 have led to significant improvements to the country’s workforce in favor of women.
And while females now account for more than half of the workforce, there is still work left to be done. While women such as Citigroup’s Jane Frasier, City National Bank’s Kelly Coffey, and Janet Yellen – the first woman to hold each of the top economic positions in the federal government – are putting some serious cracks in that glass ceiling, more progress is needed to shatter the gender gap in the financial world. At Sunrise, 55 percent of employees are women and 48 percent of women hold management positions.
Diversity in Ideas, Thoughts, and Practices
There are plenty of reasons why more women are needed to lead financial institutions. For starters, diversity in ideas, thoughts, and practices is important at any level and in any industry. Having women in leadership roles changes the way companies think, proving to be more profitable and socially responsible Off Site Link.
And finally, women also tend to excel in certain characteristics that are attributed to good leaders Off Site Link, such as empathy, creativity, self-awareness, communication, sensitivity toward ethical issues, flexibility, and conflict management, among others.
In essence, female leaders make for good business.
B Corp Month
Turning the spotlight on B Corp Month, Sunrise Banks is proud to be a Certified B Corporation since 2009.
You might have seen the B Corp seal on your Athleta clothing tag, your Aveda hand cream, or your pint of Ben & Jerry’s ice cream. But what does it mean?
B Corp is a designation reserved for organizations that strive to meet the highest standards of social and environmental sustainability while also successfully balancing profit and purpose. The certification comes from B Lab, an international network transforming the economy to benefit all people, all communities, and the planet.
Currently, there are over 6,300 Certified B Corporations. This admirable group spans across more than 150 industries, provides almost 400,000 jobs around the world, and encompasses businesses of all shapes and sizes.
Sunrise Banks' Triple Bottom Line: People, Planet, and Prosperity
As a Certified B Corp, Sunrise Banks serves all stakeholders, customers, and employees through a responsible business model that emphasizes a triple bottom line: people, planet, and prosperity – and focusing on sustainable social and environmental initiatives.
B Corp Month Off Site Link is an opportunity to strengthen the awareness, understanding, meaning, and trust around the certification. It’s a time for the community to join in celebration of businesses that demonstrate what it means to think beyond profit and take action to transform the economic system.
We Go Beyond
This year, the We Go Beyond campaign is spreading awareness of the B Corp initiative by highlighting this community of impactful businesses and sharing their reasons for choosing to pursue this path. Consumers will also discover ways they can use their purchasing power to support the movement, tips on sustainability efforts, and an understanding of how to become a B Corp.
Check out the full list of B Corps Off Site Link and do your part to support companies engaged in this important work that benefits people and planet.