Catalyst Celebrates Milestones at 50th Anniversary Conference

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catalystawardBy Melissa J. Anderson (New York City)

Yesterday’s 2012 Catalyst Awards Conference was a celebration of landmark achievements. As Catalyst celebrated its 50th anniversary, the organization awarded its annual prize for diversity initiatives to two organizations: the food and facilities management services company Sodexo and Commonwealth Bank, Australia’s leading financial services company.

The two programs represented breakthroughs in diversity. Sodexo’s ROI driven diversity program has increased its number of women in leadership by 74%. Commonwealth has set the tone for diversity in Australia by being the first bank in the country to set targets for attracting, retaining, and promoting senior women.

The program also celebrated another kind of milestone. For the first time ever, two sisters have become Fortune 500 CEOs: Maggie Wilderotter, Chairman and CEO of Frontier Communications, and Denise Morrison, President and CEO of Campbell Soup Company. Together, they shared their work and family wisdom during the conference’s lunch panel.

What became clear throughout the event was the importance of leadership – how a dedicated and vocal commitment to diversity from the top can truly shape a company’s culture of inclusion.

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Are Female Leaders Tolerated or Celebrated in Your Company?

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Businesswoman Standing Out From the Crowd - IsolatedBy Melissa J. Anderson (New York City)

In a recent New York Times article, Reuters Global Editor-at-Large Chrystia Freeland echoed recent comments made by Secretary of State Hillary Clinton about a consistent characteristic of extremists around the world – they try to control women.

Freeland points to a new study out of the University of Toronto’s Rotman School of Management that suggests cultural styles may be to blame.

Based on an analysis of 32 countries, the study’s authors, Rotman professors Soo Min Toh and Geoffrey Leonardelli, propose two different types of cultures – “tight” and “loose.” Loose cultures (like Hungary, New Zealand, and Ukraine) don’t have extreme norms and tolerate change and deviation from tradition well. On the other hand, tight cultures (like Pakistan, South Korea, and Turkey) tend to have a strong reaction to anything that is different from what they consider traditional or normative – and in many cases this means female leadership.

Toh explained, “Cultural tightness can prevent the emergence of women leaders because tighter cultures may make a society’s people more resistant to changing the traditionally-held practice that placed men in leadership roles.”

But that’s only one piece of the puzzle, she explains. After all, as generally homogeneous and socially conformative, Norway is also considered a “tight” culture – and it is often at the forefront of gender equality action.

The difference is that Norway actively promotes gender equality as a cultural norm, where everyone from political and corporate leaders to individual citizens are expected to participate. It is a society keenly focused on egalitarianism.

Leonardelli continued, “But when it comes to the emergence of women leaders, cultural tightness can have an advantage too. Cultural tightness may also be a helpful instrument, because in societies where men and women are treated equally, tightness could more strongly implement and sustain practices that encourage the emergence of women leaders.”

The study suggests that workplace cultures can be influenced by the tight/loose dichotomy as well. How is culture change looked upon at your company? How about in your industry at large? Are women merely tolerated or are they celebrated as leaders?

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Voice of Experience: Janet Adams, Head of Strategic Projects and Change Management for Group Regulatory Affairs, Royal Bank of Scotland

janetadamsBy Melissa J. Anderson (New York City)

One of the major challenges women face in the financial services industry, said Janet Adams, Head of Strategic Projects and Change Management for Group Regulatory Affairs at RBS, is a shortage of female role models. “It can be daunting being in meeting after meeting where you are the only woman or there is a minority of women.”

“We have three new female non-executive directors at RBS, and our Chairman is actively committed to developing women in senior positions so we do have successful female role models,” she said. “I have been mentored by two of the more senior women here over the past five years and benefited greatly from this.”

It’s also incumbent on women to reach out to role models, she said. “You need to go out and find them and approach them.”

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Why Facebook’s IPO Matters to Women

Beth StewartContributed by Beth Stewart, Chief Executive Officer, Trewstar Corporate Board Services; Director, Carmax; Former Director, General Growth Properties and AV Homes. Inc.

February was a tough month for women.  At a House committee hearing, a panel of five men expounded on religious liberty—in the context of President Obama’s compromise plan on insurance coverage for contraception. In Oklahoma, protesters rallied against Republican Senator Dan Newberry’s bill that would require a woman to hear the fetus’s heartbeat before a doctor could perform an abortion.  Facebook announced a $5 billion IPO without a single woman on its board. But, unlike the House committee hearing, or the Oklahoma personhood bill, the public outcry against Facebook’s board was anemic.

A group of young women—two journalists, one paralegal, and a Rhodes Scholar—decided to do something about it. They wanted to use Facebook, not to topple Arab governments, but to create meaningful change in corporate America—change that has not occurred for years, despite the articles, conferences, and commitments to do better.

They could see no reason for Facebook not to expand its board to include women. Study upon study has shown that when boards include women, attendance at board meetings improves, audits occur more frequently, and equity—the shareholders’ investment in the company—grows.

Further, women on Facebook’s board could generate positive publicity for Facebook as a leader in corporate governance as it has been in so many other areas of our society.

In his Letter to Investors, CEO Mark Zuckerberg referred to Facebook’s role in the Arab Spring, saying that the site should “empower people” to seek an alternative to the “monolithic, top-down structure that has existed to date.” The young women wondered: Shouldn’t Facebook’s top management structure be less monolithic, too?

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Does Gender Matter When it Comes to Your Mentor?

iStock_000010249946XSmallBy Robin Madell (San Francisco)

One of the most basic questions in the mentor-selection process is whether to be mentored by a man or a woman. When it comes to mentoring women, should the gender of mentor candidates be a consideration? The answer is not straightforward. While some experts and execs believe male mentors can offer the best resources to women, others feel that female mentors can offer better understanding of specific issues that mentees need to know. Still others feel that gender should not be a deciding factor for mentorship.

“I don’t think gender and age really matter,” says Christina Inge, who works in the technology industry. “I’ve had mentors in different fields of different genders. It’s about shared values more than anything.” Jessica Albon, who works with financial advisors, agrees: “I haven’t found gender to matter at all,” says Albon. “What’s mattered to me is someone’s perspective—how able are they to see the big picture? How able are they to put themselves in my shoes and extrapolate?”

On the other hand, Roy Cohen, author of The Wall Street Professional’s Survival Guide, says that gender is a real issue. “It is a practical matter,” says Cohen. “There are just not enough women in leadership positions, and like any community not all of them want to, or can, be mentors. For those who do, they tend to be burdened by requests from many, many women—too many. So that leaves men to pick up the slack.” Cohen notes that this has advantages as well, because the right men can open doors and influence other men. “Men tend to have historical relationships to tap that may be less available to their female colleagues—like membership in the old boy’s club.”

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How Do You Measure Work/Life Balance?

iStock_000003367609XSmallBy Melissa J. Anderson (New York City)

According to a recent study released by the Future of Children (a research collaboration between Woodrow Wilson School of Public and International Affairs at Princeton University and the Brookings Institution), state programs intended to ease work/life balance challenges do not put undue strain on economies.

Taking a macro view of work/life issues, the study compares competitiveness and unemployment data from the International Labour Organization, the World Economic Forum, the Organization for Economic Cooperation and Development, and other sources to determine if countries that offer safety net programs like paid parental leave or guaranteed time off for breast feeding were worse off economically.

And, it found, no – state programs designed to better facilitate work/life balance did not put extra stress on an economic system. The study said:

“…an examination of the most competitive economies as well as the economies with low unemployment rates makes clear that ensuring that all parents are available to care for their children’s healthy development does not preclude a country from being highly competitive economically.”

This is good news for people living in countries that guarantee these kinds of programs – the research shows that, even through the recession, these particular policies have not caused the most competitive economies to suffer. Perhaps this will encourage laggard states (we’re looking at you, US) to adopt policies that ensure families have better health and wellness opportunities. But in taking a macro look at work/life balance, the study doesn’t really cover the fact that childcare is only a small slice of the work/life pie.

Work/life balance (integration, effectiveness, fit, etc.) isn’t only about childcare, or elder care, or caretaking in general. It’s also about self-respect, mental and emotional health, physical health, productivity, and living the life you want to live – whether that means grabbing a 15-minute manicure in between board committee meetings, baking PTA cupcakes while on a call with the Beijing office, or spending the weekend hiking in the Adirondacks.

It’s personal. And that means work/life balance at the micro level is a much harder quality to measure.

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Voice of Experience: Libby Cantrill, Senior Vice President, PIMCO

LibbyCantrillBy Melissa J. Anderson (New York City)

“Don’t be afraid to ask and don’t be afraid of your own voice,” said Libby Cantrill, Senior Vice President at PIMCO. “A lot of times, women don’t think they deserve to be in the room, to have a seat at the table. They do.”

One of the key lessons she has learned throughout her career is the importance of asking for the career opportunities you want. “Women are often afraid to ask for things and put themselves out there. But all of the most interesting things and opportunities that I have experienced in my own career are the result of asking for them,” she said.

She continued, “The other thing I’ve learned is that no one will manage your career for you. I would advise women to be proactive and strategic when thinking about the next steps in their career advancement.”

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Breathe. Meditate. Lead.: Ten Ways A Mindfulness Practice can Make Us Better Leaders

Contributed by CEO Coach Henna Inam

True story. It was 6AM. There were about 12 of us who had been meditating for an hour when I had an epiphany. It’s really hard to empty your mind when your stomach is completely empty and loudly declaring its discontent! This was about five years ago when, on a dare by my best friend, I decided to go to India to spend ten days at an ashram to learn how to meditate.

The actual course was 21 days but as a self-proclaimed over-achiever I figured I could nail it in ten. Like anything else up to this point in my highly productive, efficient, and fast-paced life, I had specific goals in mind for the ten days at the ashram. First, learn how to empty my mind. Second, attain a permanent stress-free state. Third (and this was my Big Hairy Audacious Goal) was to achieve enlightenment.  So, you can imagine my frustration on Day Nine as my stomach was growling with hunger and I had still not learned how to empty my mind.

Fast forward five years, and I find myself fascinated by what neuroscience is discovering about the benefits of meditation… something discovered thousands of years ago by the Buddhists. My goal here is to share the benefits of mindfulness I have personally experienced – more as a student and practitioner of the topic, rather than an expert.

First, a brief definition of mindfulness. According to Jon Kabat-Zinn, mindfulness is simple awareness of the present moment. The Chinese calligraphy character is literally translated as “present heart.” It is the practice of paying careful attention to what is happening in the now, whether it be a sight, a sound, a taste, a smell, a sensation in the body, a thought, or an emotion. It is observation without attachment.

Here are ten ways a leadership practice in mindfulness has helped me and can help you too.

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Is Sponsorship the New Mentorship?

iStock_000012303174XSmallBy Robin Madell (San Francisco)

At The Glass Hammer, we report frequently on mentorship and sponsorship. Yet we still find there’s quite a bit of confusion among women about the distinction between these types of roles and programs. In honor of Women’s History Month, we wanted to provide fresh insights and clarification from corporate diversity leaders about mentoring and sponsoring.

Some thought leaders argue that sponsorship is more of a semantic difference than a practical one when compared with traditional mentorship. Yet many diversity experts emphasize that the roles are quite different from one another, and that it’s important for women to strive to develop both types of relationships.

New or Just Different?

When asked whether she views sponsorship as the new mentorship, Maria Castañón Moats, chief diversity officer of PwC, responds that she believes sponsors and mentors are different, and both are important. “In my experience, mentors provide advice and emotional support,” says Moats. “They are people you look up to no matter what their role might be in the organization. A sponsor, in contrast, must be senior and influential. Sponsors are effective because they spend their political capital on your behalf. Sponsors go far beyond offering advice and offer opportunity!”

Having moved at PwC from senior manager, to partner, to C-level executive, Moats is in the unique position of having had mentors and sponsors who have helped her along the way, as well as mentoring and sponsoring others herself. When it comes to sponsors, Moats explains how her advocates went beyond simply giving advice:

“From my first day at the firm, I’ve had formative relationships with key sponsors—men and women who helped me grow, challenged me to take on tough assignments, and ultimately shaped the professional I’ve become,” says Moats. “They guided me toward new opportunities and helped expand my professional network by introducing me to key people both inside and outside the firm.”

Moats says she is also proud of currently serving as a sponsor. “I have several female protégés at the moment,” says Moats. “I see my role as providing candid feedback in real time and fighting to get my people the right opportunities at the right time.”

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Voice of Experience: Liz Bingham, Managing Partner, People and Talent, UK and Ireland, Ernst & Young

lizbinghamBy Melissa J. Anderson (New York City)

“In order to attract and retain the best people, we have to make sure that we are looking at talent through a diversity and inclusion lens,” said Liz Bingham, Managing Partner of People and Talent for the UK and Ireland at Ernst & Young. “This is an area I am completely passionate about. As a school leaver (non graduate), a woman, and also an out lesbian, I tick quite a few gender diversity boxes.”

Bingham rose through the ranks at Ernst & Young as a member of the firm’s restructuring business, eventually becoming managing partner of the $150 million practice. Last year, she decided she was ready for a new challenge, and was appointed to the UK firm’s leadership team as Managing Partner for People and Talent. Now she is keenly focused on taking learning and development, diversity and inclusion, and employee engagement to the next level.

“I want to be sure talent in every shape and form is nurtured, to create a more meaningful experience for every individual who works for the firm for however long they stay with us,” she said.

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