Female affinity groups offered by corporations are formalized corporate initiatives focused on networking and professional development opportunities for women (Welbourne & McLaughlin, 2013). The scholarly literature focused on female affinity groups was limited. The purpose of this grounded theory Dissertation in Practice study was to understand employees' perceptions of female affinity groups in large corporations in the financial services industry. The aim of the study was to create a new framework and evidence-based recommendations for female affinity groups based upon employees' perceptions. Using a grounded theory research approach using qualitative methods, the researcher collected data through interviews to ascertain employees' perceptions of female affinity groups in large corporations operating in the financial services industry. Based on the data collected and analyzed, a theme of growth and development emerged. Three categories supported this theme (a) enhancing professional development, (b) building relationships for support, and (c) gaining rich, meaningful experiences. The study yielded practical implications for corporate human resource leaders in the financial services industry by creating a new framework and evidence-based recommendations for these leaders to improve female affinity groups. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]