Stafford_KimBy Melissa J. Anderson (New York City)

“One of the challenges women face in financial services is the overall number of senior women we have as an industry. There are many amazing women at PIMCO, and in the industry broadly, but there are fewer of them than men,” explained Kim Stafford, Executive Vice President at PIMCO.

She continued, “But I’m actually quite heartened that this is changing. We’re actually seeing many more female leaders in the industry and that’s exciting.”

After eleven years at the firm, Stafford recently joined PIMCO’s executive office, working on firm-wide strategic, financial and operational initiatives. Also an enthusiastic supporter of women in the industry, Stafford is a member of the steering committee for the firm’s Women’s Leadership Network.

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laurabergerContributed by Laura Berger, Executive Advisor and Founder of The Berdéo Group. She is also Director of Corporate Programs at Tiara—Exceptional Women’s Coaching.

While living in Costa Rica, I learned to rappel waterfalls from great heights. I overcame what I thought was an insurmountable challenge – my fear of heights.

When my husband and I went on our first rappelling trip, I was instructed on the techniques for gradually rappelling without having to plunge into the water from the precipice 110 ft up. Rappelling reduces the acceleration of gravity, thereby avoiding the crushing clash of two surfaces—one being part or all of the adventurer’s body and the other being the rocky pool below. Fortunately when done properly and with control, rappelling allows you to enjoy your surroundings during the gradual descent and exercises the brain by learning new techniques to be applied to the next rappelling experience.

Certainly, significant preparation is required. Our guides had rappel anchors with backups already in the trees at the top of the waterfall. Even so, they invested significant time and energy in retesting these anchors before our rappel. They also tested our knots, checked that the ropes were properly looped through our rappel devices and made sure that our ropes would not come into contact with any sharp objects during our descent for fear of their severing.

My rappel could only begin when I committed myself to angle my body 90 degrees so that I could walk on the wall face horizontally. This was extremely counterintuitive, but trying walk vertically as I was used to resulted in my body slamming into the wall face-first, very painfully.

The descent was controlled by grabbing the rope below my waste, not above. Since my body was hanging from the rope above, my natural inclination was to grab the rope hard above my waist with both hands to avoid a fall. Of course, this would only scour my hands raw, before I fell anyway. Truly, there is no strong grabbing required. Rather, lifting the hand outward away from the waist speeds up the descent and bringing that hand downward below the waist slows it.

Rappelling waterfalls is exhilarating on so many levels. First, realizing that slanting my back flat horizontal to the ground 110 feet below actually was safer was a thrilling paradigm. Then, walking a wall of orchids, mosses, insects, and other wonders gave the feeling of exploring uncharted territory. The brake hand is a fantastically unreasonable anomaly as well. That is, to completely stop and dunk my head in the waterfall or examine a plant by lowering one hand was complete defiance of natural laws.

Finally, arriving at the bottom of the rock face and seeing the wall above was organically awe-inspiring in that an otherwise unconscionable route was taken in a methodical, controlled manner. The unconventionality of the experience was a rush, even though there was never any true danger given the safeties in place.

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iStock_000006262297XSmallBy Melissa J. Anderson (New York City)

In her jaw-dropping 2003 New York Times article, “The Opt Out Revolution,” columnist Lisa Belkin suggested that the reason women aren’t rising to leadership roles in large numbers is simply because they’re not interested. She wrote, “Why don’t women run the world? Maybe it’s because they don’t want to.”

Belkin said highly talented and educated professional women were choosing family over work, and deciding to “opt out” of the workforce all together. She placed the responsibility for “opting out” squarely on the shoulders of women themselves – and framed it as an empowered decision on their behalf. The backlash to the piece was swift – Joan Williams, Founder of the Center for Work Life Law at UC Hastings was one of the first to proclaim the “opt out revolution” a myth. She said, “When we talk about work/family conflict, we talk about professional women opting out – but often they are pushed out, because of all-or-nothing workplaces.”

In fact, the “opt-out” myth was largely debunked by a 2009 report by the U.S. Census Bureau which found that most stay-at-home mothers were part of low income families with limited educations – not exactly the high powered professionals Belkin described.

Subsequent research by The Center for Work/Life Policy also revealed that professional women who had left the workforce were less often “opting out” than being pushed out by workplaces that were inflexible and unresponsive to their needs.

In fact, the CWLP’s 2010 study “On-Ramps and Off-Ramps Revisited” [PDF] showed that, “A full 69 percent of women say they wouldn’t have off-ramped if their companies had offered flexible work options such as reduced-hour schedules, job sharing, part-time career tracks or short unpaid sabbaticals.”

It seems the biggest factor in off-ramping was environmental, rather than personal.

Yet new research out of Northwestern University‘s Kellogg School of Management shows that the “opt out” myth persists – and it keeps women from getting ahead.

Nicole M. Stephens, assistant professor of management and organizations at the Kellogg, and co-author of the study with Cynthia S. Levine, a psychology doctoral student at Stanford University, explained, “Although we’ve made great strides toward gender equality in American society, significant obstacles still do, in fact, hold many women back from reaching the upper levels of their organizations.”

She continued, “In our research, we sought to determine how the very idea of ‘opting out,’ or making a choice to leave the workplace, may be maintaining these social and structural barriers by making it more difficult to recognize gender discrimination.”

According to the research, women who described their career breaks as the result a personal choice were less likely to identify examples of discrimination and structural barriers to advancement. Choice-focused women were blind to societal and environmental disadvantages that may have influenced their career trajectory.

What’s most concerning about the study is not that these individual women were blind to workplace bias – it’s that the majority of the women surveyed felt this way. Our culture of choice is causing us to ignore the structural inequality that is keeping women out of the corner office.

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woman sitting in row reading reportby Cleo Thompson (London), founder of The Gender Blog

This is the final in a series of articles which looks at how UK business is approaching the issue of women on boards.

Britain’s biggest companies have more than doubled the number of women they are appointing to boardroom jobs since Lord Davies, the government’s champion of female board representation, told businesses this year that within four years a quarter of senior bosses should be women.

FTSE 100 companies have recruited 23 women to their boards this year – representing about 30% of total board appointments – after Davies said they should sign up to a voluntary target of 25% board representation by 2015.

Lord Davies of Abersoch welcomed the leap in FTSE 100 board representation but said there was “a danger that the issue becomes forgotten”. He said he was working with business secretary Vince Cable and the prime minister’s office on “ways to keep the pressure up”.

In February, Davies told FTSE 350 companies to set their own “challenging targets” and called on chairmen to announce their goals within six months and for chief executives to review the percentage of women they aim to have on their executive committees in 2013 and 2015.

“We are making progress but we have to make sure all companies publish their targets in the autumn. Even though it is voluntary, I have written to every company secretary laying out what we are expecting and I am getting letters from boards saying they are going to comply.”

He added, “Post August, I intend to make sure I keep the pressure up and there is going to be a bit of naming and shaming of companies not supporting it… There will be an event in the autumn that will make the corporate sector realise the government has not forgotten,” Davies said.

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Contributed by CEO Coach Henna Inam

The stock market is a roller coaster. You find out you’re not going to hit the numbers for the quarter. More people you know are out of jobs. Congress can’t seem to agree on what they want for breakfast, let alone decide how to run the country. The global markets are in chaos. Your boss just gave you another impossible deadline. Plus, your kid’s on the other line asking where you are. You’re a half hour late to pick them up from soccer practice. We know this is not your life, but perhaps a friend you know? What to do?

Here are five leadership practices that transformational leaders do to manage in chaos.

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iStock_000006952019XSmallBy Melissa J. Anderson (New York City)

“Sponsors can be a core differentiators for proteges, particularly as they move up in the organization and competition becomes fiercer,” explained Heather Foust-Cummings, PhD, Senior Research Director at Catalyst, and lead author of the organization’s new report, “Sponsoring Women to Success,” released today.

But having a protege is a career booster for senior women as well. “Sponsorship was a trait of effective leadership” she explained.

The study, which Foust-Cummings co-authored with Sarah Dinolfo and Jennifer Kohler, explained that many people and companies are still confusing sponsorship with mentoring. The report says, “While a mentor may be a sponsor, sponsors go beyond the traditional social, emotional, and personal growth development provided by many mentors. Sponsorship is focused on advancement and predicated on power.”

And that relationship of power goes both ways. Proteges benefit from having someone pulling them into new roles and opening doors they might not have known existed. But sponsors also gain career capital when the individuals they have in pocket do well.

Foust-Cummings said, “The sponsor can gain reputational capital by sponsoring someone who does well and becomes a leader. The sponsor gains the reputation of someone who can spot good talent and advance them.” As talent management and succession planning become ever more important issues for great leaders, building an effective sponsor-protege relationship should be top of mind for those climbing to the top.

Here’s how to build your own sponsor-protege relationship that can help you and your protege get to the next level.

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iStock_000007715858XSmallBy Tina Vasquez (Los Angeles)

According to a Baylor University study published online in the Journal of Applied Psychology, women who return to work after giving birth are more likely to stay on the job if they have greater control over their work schedules. Researchers also found that job security and the ability to make use of a variety of their job skills leads to greater retention of working moms, while the impact of work-related stress on their physical and mental health causes greater turnover.

According to 2008 data from the U.S. Bureau of Labor Statistics, 71 percent of women with children under the age of 18 were working or looking for work, and nearly 60 percent of women with young children were employed. Yet, a large number of mothers who return to work after childbirth subsequently leave the labor force.

As the saying goes, you can’t manage what you don’t measure. By revealing the needs of this group of women (all North Carolina residents with an average age of 31; 79 percent of them married), the Baylor study sheds light on what working mothers are looking for.

On the other hand, one has to wonder why studies like these are still being conducted. After all, is it an earth shattering revelation that a woman who just gave birth will now need more work flexibility? Is it shocking to learn that a woman who has job stability is more apt to stay at her place of employment and be productive because there’s no nagging fear of losing her job?

It shouldn’t be, and perhaps that’s the point.

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EllenGalinskyBy Melissa J. Anderson (New York City)

“My biggest piece of advice,” said Ellen Galinsky, Co-Founder and President of the Families and Work Institute and a pioneer in the study of work-life issues, “is don’t think that tension will totally disappear. We will always have some work-life tension.”

Galinsky’s work has spanned decades and subjects – parents, children, men, women – and she’s gained key insight into the evolution of the problems faced by working parents.

“I think a lot of mothers worry about how their work will affect their child. But the fact is, the real impact on your children comes from the kind of relationship you have with them. Decades of studies have shown that work doesn’t have that much of an impact — you as parents do! So ask yourself, “what kind of parent do I want to be?”

Galinsky’s most recent work shows that more men are reporting work-life conflict than women. The Institute’s new report, The New Male Mystique [PDF], examines the reason behind it – and why it’s important for women.

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Frances HesselbeinBy Melissa J. Anderson (New York City)

At the headquarters of the Girl Scouts of the USA on Tuesday, the organization welcomed home its beloved leader Frances Hesselbein, who served as its CEO from 1976 to 1990. Upon taking the reins, she led the faltering organization to a new era of dynamic success, by implementing new delivery methods and ushering in a host of initiatives aimed at improving diversity. At the event, Hesselbein recalled the lessons she has learned throughout her life and career.

Now President and CEO of the Leader to Leader Institute (formerly the Peter F. Drucker Foundation for Nonprofit Management), Hesselbein’s model of servant leadership has inspired powerful people around the world, and in 1998, she was awarded the Presidential Model of Freedom, the highest honor a civilian can receive in the US. She is the recipient of over 20 honorary degrees, and her work on leadership and management is respected globally. As Marshall Goldsmith, who moderated the event, explained, “In the world of leadership she is the role model.”

Hesselbein, who is deeply patriotic, said her commitment to diversity comes from her love of her country. “How can we sustain democracy if we don’t know the power of inclusion?” she asked.

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Woman with portfolioBy Melissa J. Anderson (New York City)

Now entering its fourth year, the Goldman Sachs Returnship® program is returning this fall. Originally specific to Goldman’s New York headquarters, the program has expanded to include Hong Kong, Singapore, Salt Lake City, and New Jersey – and the firm is looking toward a London program as well.

The Returnship® evolved out of research that employers were ignoring an experienced source of talent: women who had left the workforce for a few years, and were eager to get back in. Like an internship, the program lasts for a limited amount of time, and provides seasoned women with the opportunity to see if they are ready to on-ramp back into the workforce. Monica Marquez, Vice President, Office of Global Leadership & Diversity at Goldman Sachs, and director of the program, said, “The beauty about the Returnship® program is that it is a ten-week program. There is a start date. There is an end date.”

In those ten weeks, participants – or “returnees,” as Goldman calls them – work on real business challenges tailored to their skills and experience. Marquez explained, “What we really try to do is work with the hiring manager to identify really meaty projects that these individuals can come in and work on because the difference from a regular summer intern is that Returnship® individuals are very seasoned, very experienced individuals who just happen to have taken a career break and are looking to come back.”

As one returnee remarked, “The ability to play an integral role in a team in such a short period of time was a great validation of my skill-set.”

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