NATALIE MADEIRA COFIELD NAMED 2018 ADVOCATE OF THE YEAR BY MINORITY BUSINESS DEVELOPMENT AGENCY

20140609_NatalieCofield_003.png

The award is the highest level of recognition in the nation bestowed on a minority-owned business or firm by the U.S. Department of Commerce.


The Minority Business Development Agency of the U.S. Department of Commerce has named Natalie Madeira Cofield, entrepreneur, philanthropist and economic activist as the recipient of its Advocate of the Year Award.

The Agency’s Advocate of the Year Award is presented to an individual or organization that has demonstrated significant accomplishment in advocating minority business enterprise as an economic force in the global economy.  The award is the highest level of recognition in the nation bestowed on a minority-owned business or firm by the U.S. Department of Commerce.

Cofield is the founder and CEO of Walker’s Legacy, the largest digital business platform for multicultural women and the Walker’s Legacy Foundation, its nonprofit sister arm which is missioned to encourage entrepreneurship and financial empowerment amongst economically challenged women and girls of color.

“The Minority Business Development Agency is the only agency within the Federal Government whose sole mandate it is to ensure economic and business opportunities for minority communities.   It is an amazing honor to be recognized for our work to empower multicultural women in business the nations most critical and growing economic driver,” said Cofield about the honor.

Recipients will be honored at the Minority Enterprise Development (MED) Week Business Awards breakfast and reception on Tuesday October 16,, 2018 during the 2018 National Minority Supplier Diversity Council conference programming in Austin, Texas.

The honor adds to Cofield’s list of recent recognitions including 100 Most Influential African Americans by The Root, the 100 Most Influential Washingtonians and Women Who Mean Business honoree by the Washington Business Journal.  

To learn more about the 2018 Minority Business Development Agency Awardees, please click here.  



###



About the Walker’s Legacy

Walker’s Legacy, www.walkerslegacy.com, is a digital platform for the professional and entrepreneurial multicultural woman. We exist to inspire, equip, and engage through thought-provoking content, educational programming and a global community.   

About the Walker’s Legacy Foundation

Walker’s Legacy Foundation, www.walkreslegacy.org, exists to provide the entrepreneurial, financial and professional supports needed to improve economic prosperity and reduce economic inequality for multicultural women and girls, globally.  

About the Minority Business Development Agency (MBDA)

MBDA, www.mbda.gov, is the only Federal agency solely dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Our programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers. After 47 years of service, MBDA continues to be a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing programs and services that provide greater access to capital, contracts and markets.  




NATALIE MADEIRA COFIELD NAMED AMONG 2018 WOMEN WHO MEAN BUSINESS HONOREES BY WASHINGTON BUSINESS JOURNAL

20140609_NatalieCofield_03FaceBook-1.jpg

The Washington Business Journal has named Natalie Madeira Cofield, entrepreneur, philanthropist and economic activist as the recipient of the Rising Star Award by the Washington Business Journal.

Held annually in Washington, DC the 2018 Women Who Mean Business Awards recognize the region’s most influential women in business. According to Emily Van Zandt, associate editor for the Washington Business Journal, this year’s nomination pool was the largest in the award’s fifteen year history with roughly four-hundred submissions.

Cofield was selected among three women to receive the prestigious Rising Star Award which aims to honor women under forty, who have made significant contributions to their field and achieved success in business and entrepreneurial endeavors.

“From my educational experience as a graduate of Howard University to the founding of Walker’s Legacy, Washington, DC has been the most influential city for my career and personal success. I am honored to receive this award in a city that means so much to me, in the company of the region’s most significant female leadership,” said Cofield about the honor.

In total, twenty-eight women were honored including notable women such as Jo Ann Jenkins, CEO of AARP, Alexandra Jaritz, global head of Tru by Hilton, and Virginia Ali, co-founder of Ben’s Chili Bowl, among others.

Recipients will be honored at the 15th annual Women Who Mean Business Awards dinner on Thursday, October 11, 2018 from 6:00 p.m. to 9:00 p.m at the Ritz-Carlton, Washington, DC.

To view the complete Washington Business Journal Class of 2018 Women Who Mean Business or to attend the event, please click here.  

###

About Natalie Madeira Cofield: Natalie Madeira Cofield is the Founder & CEO of Walker’s Legacy, the largest digital platform for the professional and entrepreneurial multicultural woman, and its sister organization Walker’s Legacy Foundation. A frequent speaker, author, and sought-after subject matter expert, Natalie is a social entrepreneurship educator, superwoman self-care advocate, and economic empowerment leader with over a decade of experience working with a myriad of organizations and agencies from Paypal to the U.S. Small Business Administration (SBA).

Website: www.nataliecofield.com

Instagram: @nmcofield

Twitter: @nmcofield

About Walker’s Legacy: Walker’s Legacy is a digital platform for the professional and entrepreneurial multicultural woman. We exist to inspire, equip, and engage through thought-provoking content, educational programming and a global community. For more information www.walkerslegacy.com.

About the Walker’s Legacy Foundation: Walker’s Legacy Foundation exists to provide the entrepreneurial, financial and professional supports needed to improve economic prosperity and reduce economic inequality for multicultural women and girls, globally.   For more information www.walkerslegacy.org.

Equal Pay for Black Women is Good Business Not Charity

young-professional-woman.jpg

Black women have maintained the highest workforce participation rate for women in the nation and are graduating from bachelor and graduate degree programs at higher rates than any other community both by race and gender.

Yet, despite these statistics, Black/African American women are paid only $0.63 on the $1.00. Meaning that, to achieve wage parity, Black women must work an additional three months and seven months to achieve equity with their white female and male counterparts, respectively.   

There are many contributors to the continued wage gap, including most notably employment discrimination, gender and race-based bias, lack of pay transparency.  The income inequality impacts economic mobility of Black women, this extends to home ownership, savings and retirement, lack of affordable child care, adequate access to capital and academic opportunities for Black women, among other limitations.

The impact of the wage gap is not only seen in lower home ownership rates, savings and retirement, and academic opportunities for Black women, but also in diversity and employee retention efforts.

Workplace wage gaps impact Black woman in two notable ways that negatively impact the bottom line for businesses:

  1. Employee retention.  According to the US Department of Labor, in 2015 Black women represented roughly 37% of the 9.2 million employed Black women holding management or higher level positions in comparison to roughly 47.5% for non-Hispanic White women.  For corporations seeking to increase their executive talent pipeline, the feeling of equal treatment both in management and financial compensation becomes increasingly important in the highly competitive job market.  The most recent high-profile example of employee retention issues associated with compensation and position, can be seen by the abrupt departure of Uber’s Bozoma Saint John, who despite having the credentials and certainly the notoriety, was never promoted to the Chief Marketing Officer role that originally enticed her interest in working with the firm despite notable issues with corporate culture.  

  2. Employee Burnout.  Many Black women face the double tax of needing to employ multiple jobs or side-hustles to help them reach parity.  In fact, a report by the Center for American Progress found that Black women had the highest rate of part-time employment for economic reasons.  Taking on additional hours or jobs can increase stress and anxiety related health conditions of Black women who find themselves overstretched.  To compound this issue, Black women are more likely to find themselves as the single-income head of households with roughly one-third of all Black households being led by a Black woman.

Not addressing the wage-gap for Black women can cost employers brand and reputation, talented executives and has the potential to increase insurance expenses and out-of-office sick leave due to health conditions.  In each of the aforementioned cases, simply paying Black women their worth - on par with their counterparts - is always the cheaper option.

 

Natalie Madeira Cofield is the Founder & CEO of Walker’s Legacy the largest digital platform for the professional and entrepreneurial multicultural woman.  She is a frequent speaker, author and sought-after subject expert on topics related to entrepreneurship and business for women and underrepresented communities.

Black Women and Equal Pay: Four Tips to Overcome Wage Inequality

bwepd.jpg

Did you know that Black women are graduating from bachelor and graduate degree programs at higher rates than any other community both by race and gender? And, that Black women have also maintained the highest workforce participation rate for women in the nation.

Yet, despite these statistics, Black women - at every economic attainment level - must work longer to achieve wage parity.  Black/African American women are paid only $0.63 on the $1.00. Meaning that, to achieve wage parity, Black women must work an additional three months and seven months to achieve equity with their white female and male counterparts, respectively.   

The contributors to the continued wage gap are vast, including most notably employment discrimination, gender and race-based bias, and lack of pay transparency.  This income inequality impacts economic opportunity for Black women including home ownership, savings and retirement, lack of affordable child care, adequate access to capital and academic opportunities for Black women, among other limitations.

Further, financial insecurity can increase stress and anxiety related health conditions of Black women who find themselves overstretched trying to meet the growing demands of a single-income household which represent roughly one-third of all Black households.

What can be done to combat the Black woman wage gap?  Below are a few tips to help empower Black women to demand their worth:

  1. Do your research.  There are a number of sites such as Glassdoor and salary.com, among others that can help to provide you with salary ranges by job type, industry, location and more.  All designed to help provide you with benchmarks needed to understand the competitiveness of your offer.

  2. Don’t feel obligated to disclose your last salary or compensation:  Often during interviews or professional meetings hiring managers or prospective clients may ask you your current or last salary or how much you charged a previous client for past work.  Neither of these are any of their business because your next endeavor more often than not is not the same role and the scope of work may be different. Pegging yourself to your past job or experience can limit future financial opportunities.  In fact, a few states have actually made inquiring into your previous salary history illegal for companies.

  3. Have multiple offers in hand.  The old adage of being hard to get also applies to salary negotiations.  Having multiple offers can allow you to evaluate your opportunities and present your final requested package or pricing with the most informed and strongest negotiation hand possible.

  4. Have a lawyer do your final representations.  Dependent upon your professional level, the complexity of salary negotiations may also include a lawyer to review final contracts and documents.  In such instances, having your lawyer provide your final representations once an offer is extended can also help let an employer know that you mean business in the most professional way possible

Leveraging one or all of the aforementioned strategies can aid in securing the financial compensation ambitious, driven Black women deserve to receive.

Natalie Madeira Cofield is the Founder & CEO of Walker’s Legacy the largest digital platform for the professional and entrepreneurial multicultural woman.  She is a frequent speaker, author and sought-after subject expert on topics related to entrepreneurship and business for women and underrepresented communities.