We are dedicated to creating personal relationships with our customers and implementing solutions that are right for them. Our associates (our employees) are critical to achieving this mission, and it is crucial that we continue to attract and retain experienced associates. As part of these efforts, we strive to offer a competitive compensation and benefits program, foster a community where everyone feels included and empowered to do to their best work, and give associates the opportunity to give back to their communities and make a social impact.
At January 31, 2023, we had approximately 796 associates, which included approximately 763 full-time associates and approximately 33 part-time associates. None of our associates are represented by a labor union or covered by a collective bargaining agreement. At January 31, 2023, approximately 72% of our current workforce was female while 28% was male, and approximately 21% are ethnic minorities. The average tenure of our associates was approximately 9 years.
For more than 10 years, Florida Trend has honored us by listing Capital City Bank as a Best Place to Work, and American Bankers Magazine has recognized us as a Best Bank to Work For. Additionally, Georgia Trend recognized CCB in 2016 and 2017 as a Best Place to Work. Tenure statistics support these accolades and further demonstrate that associates enjoy working for CCB.
Our compensation program is designed to attract and reward talented individuals who possess the skills necessary to support our business objectives, assist in the achievement of our strategic goals and create long-term value for our shareowners. We provide our associates with compensation packages that include base salary, annual incentive bonuses, and equity awards tied to the value of our stock price. We believe that a compensation program with both short-term and long-term awards provides fair and competitive compensation and aligns associate and shareowner interests, including by incentivizing business and individual performance (pay for performance), motivating based on long-term company performance and integrating compensation with our business plans. In addition to cash and equity compensation, we also offer associates benefits such as life and health (medical, dental & vision) insurance, paid time off, paid parental leave, a 401(k) plan, and a pension plan.
We believe that an equitable and inclusive environment with diverse teams produces more creative solutions, results in better services and is crucial to our efforts to attract and retain key talent. We strive to promote inclusion through our corporate values of integrity, advocacy, partnership, relationships, community, and exceptional service. In 2021, we formed the Diversity, Equity and Inclusion (DE&I) Charter and formed the DE&I Council. Our DE&I Council consists of a diverse group of members from all levels of the organization. The Council’s focus is on diversity and inclusion in our workforce, workplace, and community. They are responsible for connecting our diversity and inclusion activities with our broader business strategies. Additionally, we created a Chief Diversity Officer position to provide direction and leadership as we build processes, initiatives, and special programs aimed at DE&I. Additionally during 2021, we partnered with a third-party DE&I firm whose mission is to embed equity and inclusion into work systems and culture, enhancing outcomes for employees and customers. Our partnership will further develop and enhance our DE&I plan and includes development of focus group conversations, interviews with Senior Leadership, research of existing policies and documentation and outline of gaps in existing policies. All associates receive DE&I education, awareness and training each year. In January 2022,we added four new directors to our CCBG Board of Directors. Of these four directors 50% are white males, 25% are minority female and 25% are non-minority female. The CCBG outside directors are made up of 11 non-shareowner individuals. Of the 11 individuals, 27% are female and 18% are ethnic minority. We continue to focus on building an inclusive culture through a variety of diversity and inclusion initiatives, including related to internal promotions and hiring practices. As part of these initiatives, we added the new position of Chief Culture Officer and Head of Recruitment in 2022, and we have associate resource groups help to build an inclusive culture through company events, participation in our recruitment efforts, and input into our hiring strategies. In addition, in response to emerging workplace practices, we made changes to our Flex – work/life balance program to assist our associates in maintaining a work/life balance consistent with their goals and to attract, retain, and motivate key associates.
The success of our business is fundamentally connected to the well-being of our people. Accordingly, we are committed to the health, safety and wellness of our associates. We provide our associates and their families with access to a variety of flexible and convenient health and welfare programs, including benefits that support their physical and mental health, by providing tools and resources to help them improve or maintain their health status. We also offer choices to our associates where possible so they can customize their benefits to meet their needs and the needs of their families. In response to the COVID- 19 pandemic, we implemented significant operating environment changes that we determined were in the best interest of our associates, as well as the communities in which we operate, and which comply with government regulations. We have retained many of these changes as a permanent part of our overall focus on associate and client safety, and we continue to follow local and federal guidance, including guidance prescribed by the Centers for Disease Control and Prevention (“CDC”), regarding COVID- 19 precautions and health measures.