Powerful Women on Paying It Forward

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woman pointing upBy Melissa J. Anderson (New York City)

Wednesday marked the Council of Urban Professionals’ fourth annual Women’s Leadership Forum, “Women & Wealth: Ambition, Risk, Success,” held at Morgan Stanley‘s New York City headquarters. CUP Executive Director Chloe Drew opened the event with a message of what the event would celebrate: “Women as drivers of revenue, leaders of finance, builders of teams.”

She continued, “But another theme has emerged. Women as circles of trust and reciprocity.”

“All of the women we’re honoring today really represent such creativity, such ingenuity, but also those circles of trust and reciprocity,” Drew said.

CUP honored several women with awards, each committed to making a difference for women in their respective fields and serving as an example for female leadership.

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Work Life Balance in the View of an Executive Recruiter – and a Therapist

Cute business woman with colleagues in the backgroundBy Joshua M. Patton (Pittsburgh, PA)

Like true love, clean energy, and world peace, the notion of a perfect balance between work and life is a wonderful idea, but one that seems elusive and impractical.

As Michelle Clayman, Founder, Managing Partner, and Chief Investment Officer of New Amsterdam Partners once told The Glass Hammer, “The idea of balance implies that perfection is possible. You’re insane if you think perfection is possible. It’s about what trade-offs you are willing to live with.”

Even on the best days, you can feel like simply a cog in a great machine, and without all the cogs the machine ceases to function.  In today’s corporate world, dedication and loyalty matter a great deal, until they don’t.  Unlike thirty years ago, workers change companies and even careers an average of three times in their lives, according to a 2006 survey conducted by New York University’s School of Continuing and Professional studies.  So why, when it seems as if high performing professionals are able to hop jobs, looking for the next big role, is it more difficult than ever to establish what feels like work/life balance?

Since the great barons of business like Rockefeller and Carnegie faced uprisings with their employees, working conditions in the United States improved over time. Workplaces became more diverse, employees gained more benefits, and the American Dream seemed to be within the reach of anyone who wanted to work for it.

When this changed it is hard to say, but the change was gradual. Perhaps, employees stopped getting raises, sacrificing those and other benefits, so they could wear jeans on Fridays. Things are tough in the economy, and businesses have focused more tightly on the bottom line – and to many, there seems to be no place for a personal life in any of it.  Yet, all hope is not lost. Therapists and corporate recruiters alike recognize the dangers of the overworked, over-stressed employee or executive. How can you better manage your personal work life balance in this economic environment? Here’s what an executive recruiter – and a therapist – advise.

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LGBT: Progress and Problems in the Workplace, Part 2

iStock_000017447641XSmallBy Robin Madell (San Francisco)

As part of The Glass Hammer’s coverage of Pride Month, we continue with Part 2 of a special series on obstacles that LGBT employees still face in the workplace. In this series, we consulted with diversity experts and human resources professionals who weighed in on issues that LGBT professionals identify as ongoing challenges at work—as well as suggested strategies that companies should consider for improvement, and opportunities for change.

Challenge: Lack of education beyond the corporate office. While many organizations tout their policies and benefits for LGBT employees from corporate headquarters, there is a lack of education and information provided to people in the field (offices located outside of the main branches), according to diversity and inclusion consultant Simma Lieberman. “Uninformed and biased employees create uncomfortable work environments for LGBT people,” says Lieberman. “I’ve worked with several organizations where this was the case, and LGBT people would not only stay closeted, they didn’t feel safe speaking up when they heard offensive comments.”

A related issue is the “global challenge,” according to Stan C. Kimer, who now specializes in diversity management issues after a 31-year career at IBM. Kimer notes that with the explosion of Internet technology and the globalization of sales efforts and supply chains, many corporate departments now consist of virtual teams with members from countries around the world. “These countries can be completely all over the place in LGBT equality, from total acceptance and integration of LGBT people to placing LGBT people in prison!” says Kimer. “This could have a major impact on LGBT employees living in the oppressive countries or LGBT people who may accept a foreign job assignment.”

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Why We Need Women in Business Leadership – Now!

JohnKeyserContributed by John Keyser, Founder and Principal of Common Sense Leadership

I ask you to read this article thoughtfully. As an executive in business for over forty years, I feel very strongly that now is the critical time for men in leadership positions to recognize that the male dominated company leadership deprives organizational cultures of the strengths women could add to leadership and the positive effects that would have on financial performance and results.

This is not new information. Bypassing women for promotion is a systemic, ongoing practice that is highly unfair and harmful to our all-important organizational cultures. I am hoping to mount a crusade to promote women because it is essential to the growth of our companies – to the benefit of us all!
It is time for men to step up to the plate and mentor, coach and sponsor women in their companies.

Let me start with some facts.

  • 3% of Fortune 500 CEOs are women.
  • The 50 highest-paid executives in the U.S. are all men.
  • Men are paid approximately 25% more than women for the same work.
  • While the number of women in executive positions had risen slightly and steadily since the 60s, in the past decade there has been a downward trend.
  • McKinsey & Co.’s recent study reveals that women rate higher than men on most leadership skills.

Ilene Lang, President of Catalyst, a not-for-profit organization founded about 50 years ago to help women and girls gain equality, observes that men are promoted based on their potential, while women have to prove themselves over and over again for that promotion. Everyone I have mentioned this to, both men and women, has said, “So true!”

A study also conducted by Catalyst reveals that companies that have at least three women on their board of directors have 16% higher financial results.

While that is important to know, here’s my reaction. The great driver of financial results is organizational culture. A winning culture means high energy, great teamwork and loyalty. As a practical matter, having three women on a board is likely to have little effect on organizational culture, as there is little, if any, interaction with anyone except the most senior executives. Maybe a few handshakes here and there – and handshakes do not a winning organizational culture make!

Just think how much better the financial results might be if women were not outside directors, but were actually in the C-suites, in senior leadership positions? In my opinion, the results could be a lot higher than 16%. Twice that? More? Why not, if talented women are helping to develop highly motivated, inspired cultures?

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Leading Your Team as a Straight Ally

Successful multi ethnic peopleBy Melissa J. Anderson (New York City)

“A lot of times, people don’t necessarily want advice, they just want someone to talk to,” explained Nini Mishra, manager in Accenture’s change management practice and an active member of its LGBT allies program.

Mishra is an enthusiastic LGBT ally (also known as “straight ally”) at the company. She explained that the company’s formal LGBT ally program was launched recently, but she has been participating in the informal “Friends of LGBT” group for quite some time. “I had a number of friends and colleagues who are open and out, and they were people who I had a huge amount of respect for personally and professionally. Over the years, a lot of them confided in me, just going out to coffee and talking about their feelings,” she explained. “To me, that’s what the LGBT allies program is about – to support fellow colleagues and be role models for how to foster inclusiveness.”

She suggested that LGBT inclusiveness is just one layer to Accenture’s wider value set of diversity and inclusion. “I think it transcends a lot of other points. It’s just treating people as individuals, with respect, and being open to differences,” she explained.

Anthony Sharrock, IT Strategy and Transformation Consultant at Accenture, and UK co-lead of the company’s LGBT Allies program, agreed. “I initially thought, ‘what’s the point of an LGBT ally network?’” he explained. “As a gay man, I didn’t really get the concept. But I began to realize it’s actually another avenue to help make LGBT employees feel comfortable about being themselves at work, and to do this well. It needs to be okay to be gay any place in the firm, no matter your project, team, et cetera. That takes more than just having a great LGBT network.”

He added, “It’s part of pushing the agenda forward. In the same way we want to see men at women’s networking events, we want to see straight people at LGBT events.”

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Voice of Experience: Claire Warnes, Partner, KPMG

ClaireWarnesBy Melissa J. Anderson (New York City)

According to Claire Warnes, Partner in KPMG’s Risk Consulting practice, one of the best parts of working in consultancy is that there are lots of moments which make you feel proud. “There’s not one occasion, but many. That’s why I like working for a consultancy with so many clients. My proudest moments are when we work as a team with a client, bringing diversity of thought to bear and really making a difference in how our clients implement change,” she explained.

Warnes spent nine years in three roles in the UK public sector before being headhunted into KPMG’s Public Sector practice. “At KPMG, I’ve done eight years work as a management consultant, implementing and designing change in the public sector, for universities, defense, and increasingly in healthcare,” she said.

In addition to those eight years, Warnes cited a valuable assignment in Frankfurt that propelled her career forward. “In 2009, I was asked to take on a strategic secondment to be the Executive Assistant to the Joint Chairman of KPMG Europe. It was a fantastic experience and one of the highlights of my career.”

Then, last year, after ten years with the firm, she was promoted to partner. “Now I’m back to consulting, working with lots of clients and helping them think about the future and plan for the significant changes they are facing, and what that could mean for their business.”

Currently Warnes’ work is mainly around the regulation of healthcare. “I’m passionate about that, and the role of regulation in enhancing the quality, efficiency, and patient safety of healthcare. I think it makes a difference.”

She added that she is also interested in how the economy will impact consultancies moving forward. “In austere times which many mature economies are facing now, the role of consultancy is extremely important. Even when money is tight there is an important role for consultants to play and add value to organizations.”

Finally, Warnes added, she is involved in a number of projects at the firm, including serving as a sponsor for its women’s development program and participating in a forward-thinking project involving a group of young partners. “It’s thinking about the future and it’s very exciting,” she said.

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LGBT: Progress and Problems in the Workplace, Part 1

young black businesswomanBy Robin Madell (San Francisco)

In light of the growing emphasis on how much progress has been made for LGBT professionals via diversity programs (particularly in the financial industry), and the better general acceptance of gay and lesbian individuals in the workplace, it’s easy to grow complacent about the need for continued progress.

Therefore, as part of The Glass Hammer’s coverage of Pride Month, we consulted with diversity experts and human resources professionals who weighed in on issues that LGBT professionals identify as ongoing challenges in the workplace—as well as suggested strategies that companies should consider for improvement. What follows is a special two-part series (read more Thursday) that summarizes their thoughts on current problem areas and opportunities for change.

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How Self-Compassion Makes You A Better Leader

Contributed by CEO Coach Henna Inam

Here’s a scenario. You have a friend. Every time your friend makes a mistake, you point it out to her. You berate her for making that mistake. “I can’t believe you did that again! What a moron!” Then if she wants to try something new, you say to her, “Well, not sure you’ll really make it. Remember you failed the last hundred times you tried something new.” How long would this friend stick around? Yet, do we stop to think how often we say these words to ourselves? Self-compassion is about being your own best friend, befriending who you are now, in this moment, with all your faults and failures. There is new scientific research that shows it can make you a better leader.

I recently read a fascinating interview with Kristin Neff, author of the book “Self-Compassion.” In her interview she describes self-compassion as having 3 core components: kindness toward yourself when you fail, a willingness to accept imperfections in yourself, and mindfulness in being aware of when you need to stop and practice compassion toward yourself. One of the biggest barriers to self-compassion is our misguided belief that being kind to ourselves will make us fat and happy and complacent. The research actually suggests that self-criticism actually undermines our ability to meet our goals.

Here are five ways why self-compassion can make you a better leader.

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Gender Metrics: The Solution to Macho Attitudes that Won’t Change

iStock_000004353264XSmallBy Melissa J. Anderson (New York City)

A new study shows that one workforce subgroup isn’t likely to add their support to women’s leadership equality anytime soon. According to researchers at UNC Chapel Hill, NYU, and the University of Utah, men whose wives don’t work outside the home are less likely to treat women with respect in the workplace. In fact, they tend to believe women are unsuited for the corporate world.

Based on a study of 718 married men, the research revealed that men with stay-at-home wives tend to take a more “traditional” view of gender roles, viewing the presence of female coworkers “unfavorably.” They more often perceive companies with lots of women as poorly run. They also more frequently deny promotions to qualified women.

What’s more, these attitudes about women are implicit – that is, many of the men in this group don’t actively seek to keep women back. They don’t even realize they hold these beliefs or that they can effectively end women’s careers.

To make matters worse, the study continues, these men are more highly concentrated in management. In addition to holding more power over hiring and promotion, they also more frequently hold the purse strings for leadership development initiatives and employee resource groups that can be instrumental in helping women advance.

And – the researchers suggest – they’re unlikely to change, no matter how much diversity training they sit through or HR messages they receive.

But there is a potential solution for dealing with this macho cohort. The researchers suggest that rather than waste time and energy trying to convince these men of the importance of gender equality, leadership should lay down the law, set diversity targets tied to compensation, and hold managers accountable for achieving their goals. Here’s why the gender metrics approach could work.

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Movers and Shakers: Sue Allon, CEO and Founder, Allonhill

Sue AllonBy Melissa J. Anderson (New York City)

According to Sue Allon, CEO and Founder of Allonhill, a mortgage due diligence and credit risk management firm, one of the most important things people can do when they are building their own companies is speak up, and showcase their thought leadership.

“When Allonhill was founded in 2008, I couldn’t imagine that the financial crisis would get worse. At the time, Wall Street couldn’t speak for itself,” she said. “It was being indicted and servicers were being indicted. But a statement had to be made: mortgages were still a good investment.”

She continued, “Many people felt they couldn’t talk, but I felt I could speak for the industry. There were flaws that needed to be corrected, but I didn’t feel there were problems with mortgage securitizations as a product. So I embarked on a press campaign to talk about mortgage securities.”

It was risky, she continued, but worth it. “It was such a wonderful boost for my company. I was jettisoned to a highly recognized position in the industry. And even when there was no market, we became the number one firm.”

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