PORTLAND, Maine--(BUSINESS WIRE)--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.
“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.
