Voice of Experience: Arlene Isaacs-Lowe, Senior Vice President, Commercial Group, Moody’s Investors Service

ArleneIsaacsLoweBy Melissa J. Anderson (New York City)

“I think it’s really important that women are authentic in their professional lives,” said Arlene Isaacs-Lowe, Senior Vice President at Moody’s, and recently appointed to head business development for Moody’s Commercial Group’s bank loan franchise.

She continued, “There are aspects of you that make you the best you – and if you put up a facade to fit into an organization, eventually that facade will crack. You are better suited to put that energy into contributing to the organizations strategic objectives.”

Isaacs-Lowe’s drive to learn – to excel at multiple disciplines – has often taken her to the next professional opportunity. Moving from accounting to investment, to entrepreneurship, and now to the credit industry, Isaacs-Lowe has diligently followed her authentic interests.

She said, “Rather than worrying about what people think of the real you, be thoughtful about working for a company that can embrace the authentic you.”

Read more

/by

Catalyst Finds Mentoring Isn’t Enough – Here’s What’s Missing

,

iStock_000005080703XSmallBy Melissa J. Anderson (New York City)

“All mentorship is not equal,” said Debbie Soon, Vice President of Executive Leadership Initiatives at Catalyst. Soon said she was shocked by the huge discrepancies between men and women, which were revealed by a report released today by the organization. According to the report, men benefit significantly more from mentoring than women do.

How much more? $9,260.

Once again: $9,260. That’s how much more men with mentors make in their first post-MBA job than women who also have mentors. Men get a considerably higher promotional increase as well, compared to women.

Why the discrepancy? According to Soon, it comes down to quality. “Women seek mentors, but men seek sponsors,” she said. Men tend to have mentors who are higher ranking, higher paid, and have more influence in the organization – in other words, sponsors, who are willing to spend their own personal political capital to advocate on their behalf.

“Mentorship is not sufficient,” said Soon. “Sponsorship closes the gap.”

Read more

/by

In Case You Missed It: Business News Round-Up

Beth 005Contributed by Beth Collinge of CTG – a division of ILX Group plc.

Economic Backdrop

  • There were broad gains for global equity markets as a result of improved economic news around the world.
  • The 10-year US Treasury yield climbed to 3.3%, one percentage point higher than its October low, following the biggest two-day sell-off this year. The move came after President Barack Obama agreed with Congressional Republicans to extend Bush-era tax cuts and combine them with a $120bn payroll tax holiday. Government bond markets across the globe followed the move up: the German Bund yield rose 10bp to 2.9%, while the 10-year UK gilt yield added 10bp to 3.5%.
  • On the currency markets, the euro was under some pressure due to unease about the outlook for peripheral eurozone nations, following fresh signs of disunity among EU leaders over the expansion of the region’s rescue fund and the question of joint European government bonds. It was not helped by news that Fitch had downgraded Ireland’s sovereign debt rating to BBB plus.
  • In commodities, gold touched a nominal record high of $1,430.95 an ounce immediately after the US tax cut announcement, before falling back with profit taking. Silver also briefly rose to a 30-year peak of just over $30 an ounce.
  • In its December monthly meeting the Bank of England’s Monetary Policy Committee left rates at 0.5% and maintained the existing level of quantitative easing at £200bn.
  • A CBI survey showed that export orders for UK manufacturers were at their highest levels in more than two years, but that the prices producers had to pay for oil and other commodities could force them to raise prices.
  • The Halifax House price Index showed the first year-on-year decline in house prices this year: the average property is now worth £164,708 – 0.7% down on a year ago.
  • The Office for National Statistics (ONS) said that Britain’s goods trade gap with the rest of the world widened to £8.5bn in October, the highest since records began in 1992.
  • U.K. retail sales climbed in November as higher food-price inflation pushed up values and cold weather boosted demand for clothing and footwear.
  • Beijing again raised the reserve ratio requirement for banks on Friday by 50 basis points, for the sixth time this year, leading to uncertainty over monetary policy in China. Though some believe the move reduces the chance of an imminent rise in Chinese interest rates, most people still expect a move before year-end.

Read more

/by

5 Holiday Gifts for Your Mentees

iStock_000011341305XSmallBy Elizabeth Harrin (London)

It’s the holiday season, and while it’s not compulsory, many mentors and managers like to find small gifts for their mentees and team members. The Glass Hammer has gathered the top business books that will grace any Christmas stocking this year. Enjoy!

1. Get-It-Done Guy’s 9 Steps to Work Less and Do More by Stever Robbins

This excellent book by time management expert Stever Robbins covers everything you need to know to be more productive at work. “The best way to work less,” he writes, “is to make sure you only do work that helps you reach your goals.” It’s a witty, entertaining book with advice on managing emails and other technology, handling meetings, structuring your working week and getting things done. “I’ve seen people spend an entire weekend formatting a presentation to get the perfect fonts, with perfect animated sparkles at perfect junctures… ‘It has to be perfect for the board of directors.’ Get real. The board of directors cares about the substance. They know how to add sparkles, they don’t know how the division is doing. Perfectionism is sucking up time.”

Read more

/by

The Glass Cliff – Turning to Women During a Crisis

wireless communicationBy Kelly Tanner (New York City)

A recent study published in the British Journal of Social Psychology concluded that female leaders are preferred during a crisis. This study, “The glass cliff: When and why women are selected as leaders in crisis contexts,” notes that when a company is in crisis, the perception of what constitutes an ideal leader shifts to someone with stereotypically non-male characteristics.

According to the study, since the feelings regarding what men bring to the table have shifted, the woman candidate is viewed as more effective, essentially by default, since men are seen as unqualified. On the other hand, the phenomenon is dubbed “the glass cliff,” because the troubles the company may be facing are seen as so insurmountable that the woman who has been selected to lead the company will probably not succeed, and thus, be sacrificed – pushed off the cliff.

What is interesting in this phenomenon is that the perception of female leaders does not change markedly – women are seen as stereotypically nurturing caretaker types in the study using a fictional successful business scenario and also a crisis situation. In essence, female leaders are best perceived to clean up the mess in a bad situation, after other options have been exhausted.

This preference for a female leader increases when the last several leaders have all been male, indicating a desire to break from a pattern. In the BJSP study, researchers Susanne Bruckmüller and Nyla Branscombe explain:

“Our findings indicate that women find themselves in precarious leadership positions not because they are singled out for them, but because men no longer seem to fit… There is, of course, a double irony here. When women get to enjoy the spoils of leadership (a) it is not because they are seen to deserve them, but because men no longer do, and (b) this only occurs when, and because, there are fewer spoils to enjoy.”

Even if the female leader does manage to clean up the mess, the researchers imply, she will not be seen as deserving of accolades as her male counterparts. The woman was a last resort – not the first choice.

Read more

/by

Voice of Experience: Anna Pinedo, Partner, Morrison Foerster

annapinedoBy Melissa J. Anderson (New York City)

“If you’re good at what you do, most people will understand different approaches and work styles,” said Anna Pinedo, a Partner in the Capital Markets Group at Morrison Foerster. She advises women entering law “not to assume that there is any one right path.”

“The one rule I’ve leanred is that there aren’t any hard and fast rules to follow,” Pinedo said. She continued, “All along, colleagues, clients, and friends have given me career advice. I listen carefully, but decide things for myself.”

Having been named one of the Best Lawyers in America 2010, as well as featured in Crain’s New York Business “Forty Under 40,” Investment Dealer’s Digest “Forty Under 40,” and Hispanic Business‘s “100 Most Influential Hispanics, Pinedo has build a successful, globally recognized career in capital markets and derivatives law.

Her leadership advice for professional women is: “Spend time being involved in professional organizations, talking to colleagues at other firms, and building close relationships with clients – it’s amazing how helpful other people can be.”

Read more

/by

How Do Team Sports Help Develop Girls into Future Leaders?

iStock_000007924915XSmallBy Stephanie Wilcox (Middlefield, CT)

Making it to the top in sports takes a lot of blood, sweat and tears. Making it to the top in business often takes the same three components. In fact, many of today’s female executives say playing sports taught them about competition and teamwork, which translates to their career. Is this merely an anecdote, or do sports really help make girls into future business leaders? One former executive gives a resounding “Yes!”

“I believe my basketball experience can be directly linked to my business experience and success,” said Mary Claire Bonner, who retired last March from Aetna. Before retiring, the New York resident was Senior Vice President of local and regional business (LRB) for Aetna, working directly for the company’s president and “running a large business that concentrated on small and mid-size employer health benefit needs in more than 30 states.” Reflecting on the position, Bonner discovered that her favorite part about leading others was creating a strong team. The skills to be good at this, Bonner noted, started in fifth grade when she joined the basketball team.

“Playing basketball changed me as a person,” said Bonner, who played from grade school through her junior year at one of Penn State’s Commonwealth campuses. “Because I was a point guard, I had to lead in setting up plays. We learned that it’s hard to lose, but losing makes you work harder. You have to be smarter; have a better strategy.”

Bonner points out that developing a strategy on a sports team is like the business concept of developing a strategy, being smart and working hard to win. Others have recognized the same parallel of sports and high achievers and are finding ways to encourage sports involvement. According to the Hall Of Fame Network magazine, the Women’s Sports Foundation, started by female tennis champion Billie Jean King, became established because, “Sport is where our children learn about teamwork, goal setting and the pursuit of excellence. In an economic environment where the quality of our life is dependent on two-income families, our daughters cannot be less prepared for the highly competitive workplace than our sons.”

Read more

/by

Ask-a-Career-Coach: Stop Waiting for Feedback

AnnDalyHighRes-2Contributed by executive coach Ann Daly, Ph.D.

Do you know what your boss really thinks of you?

Not really? Well, you’re in good company. It’s an open secret that women don’t get as much performance feedback as their male colleagues. It could be that male managers fear an “emotional response,” or it could be that they fear being perceived as harsh or harassing. Whatever the reason, women are denied a crucial ingredient in professional development and advancement. Because without specific, timely, and ongoing feedback, it’s much harder for you to build your capacities and your career.

So what’s a girl to do?

Stop waiting. If your boss isn’t going to initiate the conversation, then start it yourself! Feedback is one of the many things (like promotions, raises, assignments, mentors, and information) that you may have to ask for.

Here’s how.

Read more

/by

Why are Women Execs Twice as Likely to Leave a Job?

,

3 Professional WomenBy Tina Vasquez (Los Angeles)

A new study conducted by professors at Oregon State University’s College of Business found that female executives are more than twice as likely to leave their jobs – voluntarily and involuntarily – as men. This is true despite the fact that women now dominate the ranks of university graduates across nearly all fields and that most women, before the age of 30, are not only experiencing more success than their male counterparts, but they’re also making more money than them. The October study, which appeared in the journal Economic Inquiry and analyzed data from Standard & Poor’s 1500 firms, has left many wondering: what gives?

The study found that about 7.2 percent of women executives left their jobs, compared to 3.8 percent of men and both the voluntary rates (4.3 percent versus 2.8 percent for men) and the involuntary rates (2.9 versus 0.9 percent) were higher for women executives. Despite systemic evidence that women are more likely to depart from their positions, the researchers did not find a smoking gun.

“The evidence suggests that women are being drawn out and forced out at higher rates; however, we don’t see too much evidence of a systematic pattern in the types of firms that are forcing or having women drawn out,” said John Becker-Blease, lead author of the study and assistant professor of finance at Oregon State University. “So in a sense, it seems the playing field is uniformly tilted against women across firms.”

The study also found that women are more likely to leave smaller firms and firms with more male-dominated boards. Consistent with past research, the Becker-Blease’s research also indicates that women are more likely to leave a job due to domestic or social responsibilities than men, which explains the higher voluntary departure rate. When it comes to being dismissed from a job, Becker-Blease’s research just confirms something that we’ve known for a long time: women at the mid-levels of management may not be getting the kind of opportunities and professional support that they need to advance successfully to the top ranks.

Read more

/by

Getting Results – Performance vs. Putting in the Hours

iStock_000008472982XSmallBy Elizabeth Harrin (London)

“In my 20 years of experience both as a practitioner as a VP of Operations & Supply Chain and as a Business Consultant and entrepreneur across multiple industries and globally, I’ve found that those work environments focused on results over presence are at least 80% more likely to achieve bottom line results,” says Lisa Anderson, President of LMA Consulting Group, Inc. “It is amazing how much effort and hours seem to be valued in the traditional business environment yet they have no correlation to business results.”

Results are what keep businesses in business, so it’s strange to think that the Results-Only Work Environment, or ROWE, movement is a relatively new thing. Developed by Cali Ressler and Jody Thompson, ROWE is different to flexible working policies: it says that you do what you need to do in order to achieve the specified results.

Read more

/by