Parity Partners Launches New Program to Strengthen Leadership Diversity in Financial Services and Technology
Parity Professional Program (P3) Integrates Education and Networking in a Curated 12-Month Plan
NEW YORK, May 9, 2017 /PRNewswire/ -- Parity Partners, a firm focused on advocacy, awareness and recruitment to close the gender and minority leadership gap in financial services, investing and technology companies, today announced the launch of its Parity Professional Program (P3). P3 is a 12-month curriculum-based program designed to provide participants with career-enhancing skills and access to a professional network that will help them succeed as the next generation of leaders.
P3 includes a series of Parity Talks and Parity Pods, and is designed to enable more women and minority employees to achieve high-ranking positions. The program's instructors are successful business leaders who have actively deployed these skills in their careers. Select speakers include, Debbie Harmon, CEO and co-founder of Artemis Partners, David Einhorn, President of Greenlight Capital, Melissa Taunton, Talent Partner at NEA and Salena Goel, Managing Director at KKR. More than 200 participants and 50 senior leaders globally are committed to the inaugural professional program.
"Our clients see women entering their firms in record numbers, but not staying long enough to assume leadership positions," said Beth Haggerty, managing partner at Parity Partners. "P3 is designed to provide rising managers with the skills to become rainmakers and business leaders as they navigate corporate politics, and manage the priorities of work-life balance. The program supports the retention and success of top talent so that clients, and the industry, can sustain competitiveness."
Participants will acquire a network of peers and mentors who actively support their career aspirations, including developing leadership skills, building a personal brand and learning to be assertive in competitive work environments. Senior leaders from some of the industries' largest firms will mentor the participants in Parity Pods – smaller working groups that meet monthly to reinforce learning and skills development.
Numerous studies have shown a correlation between diversity and financial performance, including a 2015 McKinsey report which found that companies in the top quartile of gender and racial diversity were 15 and 30 percent more likely to have financial returns above the industry median, respectively. Despite the positive correlation, a 2016 diversity and inclusion study from Deloitte and the National Venture Capital Association, found that the proportion of women in investment partner positions is 11 percent and a more dismal zero percent and two percent for African American employees and Hispanic or Latino employees respectively. Women and minorities attain leadership positions at a rate that falls far short of the industry average.
"We see Parity Partners' mission as essential to the future competitiveness of the venture capital industry," said Joel Cutler, managing director at General Catalyst, a leading venture capital firm with offices in Boston, New York, San Francisco and Palo Alto. "We support P3 because the program will help firms retain high-quality talent that will drive positive impact on our investments and returns."
P3 is supported by sponsors including NEA, Insight Venture Partners, General Catalyst Partners, Ackman-Ziff Real Estate Group, Apollo Global Management, Centerview Partners, KKR and Odyssey Investment Partners. Lowenstein Sandler LLC and NEA are hosting Parity Talks in New York and San Francisco. Interested participants and industry leaders can view the program at www.parityprogram.com.
About Parity Partners
Parity Partners believes that diversity is core to the competitiveness of the investment and financial services industry, and the companies they invest in. Parity Partners redresses the current diversity imbalance by working with leading companies to shape policy and talent recruitment, while educating and advocating for women and minority professionals in pursuit of better business outcomes and top talent retention. For more information visit our website at www.parity-partners.com and follow us on Twitter @parity-partners.
SOURCE Parity Partners
Share this article