Last night at the Hyatt Hotel in New York, Deutsche Bank held its annual Women on Wall Street (WOWS) Conference. The theme for this year’s conference was “It’s Your Move: Driving Change in Your Career and Life.” Over 2000 women in finance packed the main ballroom to hear motivating speeches and frank advice from a panel of distinguished guests.
Brenda Barnes, Chairman and CEO of Sara Lee Corp. gave the keynote address, in which she emphasized the importance of creating a culture of diversity and inclusion where every employee is valued. She outlined five categories for how to achieve this. First, get people who do the work to know the answers, and create a culture that is conducive to encouraging people who know the answers to speak up. Second, change the representation of women in the company. Instead of just relying on “the pipeline” of female graduates from top MBA programs, companies need to do more to make sure women are represented at the highest levels. Third, create diversity and affinity groups in the workplace and put support networks in place so that those groups can thrive and flourish. Fourth, put your money where your mouth is by paying people more for engaging in behaviors that further diversity efforts. Fifth and finally, work on ways for companies to become more flexible, not just towards women, but towards all of their employees.