State Street Corporation (NYSE: STT) announced today that it has received the 2016 ERG & Council Honors Award™ from the Association of ERGs & Councils, in recognition of its Flexible Work Employee Network (FWEN) and Professional Women's Network (PWN). The award is the only annual national award that recognizes and honors the outstanding contributions and achievements of Employee Resource Groups (ERGs), Business Resource Groups (BRGs) and Diversity Councils. This is the second consecutive year State Street's FWEN has been recognized as a top employee resource group by the association. "This year, we had a 20 percent increase in applications representing 1,279 ERGs, BRGs, Diversity Councils and their chapters. This is by far the most competitive and exciting field to date," said Fernando Serpa, executive director of the Association of ERGs & Councils. State Street's FWEN is a collection of employees who voluntarily work together to support its global workforce around the company's formal Flex Work Program. It provides an environment to share experiences, successes, best practices, and challenges related to flex work; to support the adoption, utilization and acceptance of flex work; and act as the "voice of the employee" to influence change and the future of State Street's flex program. State Street has also been named a "Top 10" leader among the 2016 International Innovation Award winners by the Profiles in Diversity Journal for its Professional Women's Network. The award is given to companies demonstrating an alignment of diversity and inclusion with business goals in the workplace and marketplace. State Street and other winners will be profiled in the December 2016 edition of the journal. The State Street's PWN has 12 chapters, spanning 26 of offices globally, and focuses on networking, building one's personal brand, and developing public speaking and other professional skills. The group is the largest employee network at State Street with more than 4,000 members.