Chicago exec takes a stand on pay-equity for women
August 26th, 2016
Chicago businessman Craig Donohue is calling on businesses to abandon “rigid and archaic organizational models and policies” so more women can climb the corporate ladder.
Donohue is executive chairman of Options Clearing Corp., the world’s largest clearing organization for equity derivatives. His comments are interesting because he’s spent his career working in the traditionally male-dominated trading world. His thoughts on pay equity are published in a letter on the company’s web site in honor of Women’s Equality Day.
He makes note that much has changed in the world to support civil rights, gender equality and the acceptance of equality for the LGBT community.
But he’s troubled at how little has changed in terms of pay equity since his wife, a former trader and money manager, entered the work force. Now with two grown daughters–one a Chicago attorney–Donohue worries about their experiences.
“I see how much more needs to be done and both my responsibility and my opportunity to further advance gender and pay equality in the workplace,” he writes.
Donohue acknowledges he doesn’t have “a road map” with all the answers but he knows there are key elements to changing direction:
He recommends increasing the number of women on company boards and in management, allowing flexible work schedules so it’s easier for women executives to juggle the demands of work and home, and finding more ways for women to re-enter the workplace after they’ve taken time off for children.
“Too many women leave the workplace knowing that it may effectively be the end of their career versus just one chapter of many,” he writes.