How Do Women Improve Board Performance? Let Us Count the Ways

By Melissa J. Anderson (New York City)

We’ve heard it before. Studies show gender balanced boards (in other words, boards with women on them) perform better than those that are composed of only one gender (almost always, men). But a new study sets out to drill down a little further.

According to Miriam Schwartz-Ziv’s study “Are All Welcome A-board: Does the Gender of Directors Matter?“, diversity in the boardroom creates several positive outcomes. Not only do companies perform better financially when there are more women at the table, but boards communicate more and take more decisive action when financial results are poor. And when there are more women on a board, individual directors (both men and women) participate more actively. The result is better run companies all around.

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The Art of Taking Criticism Effectively

By Robin Madell (San Francisco)

No one really “likes” receiving criticism. No matter what kind of positive spin you put on its value, the truth is, it can make us feel badly to hear negative feedback, whether from peers or superiors.

Sometimes we take criticism to heart, letting it fester and affect our performance. But this isn’t necessary. Whether criticism is given constructively or not, it can help advance your career if you know how to use it right.

“It’s important to listen to all criticism without becoming defensive, argumentative, or angry,” says Kathi Elster, co-author of Mean Girls at Work. “There is always something to learn when hearing criticism.”

To understand how to accept office criticism with grace rather than a grimace, we spoke with national corporate etiquette expert Diane Gottsman.

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Stuck in the Same Old Sector? How to Change Career and Get Ahead

Contributed by Claire Lister

You what?! You quit your job? What were you thinking? There’s got to be a better way to make a midlife career change.

It’s not uncommon for people in the same job for a couple of decades to start considering what else is out there. More often than not people tend to fall into an industry or a job, very early on in their career so it is unsurprising that mid-life career changes have become part of the mid-life changes.

If you can barely drag yourself out of bed in the morning or can’t wait for the work day to end, then maybe a midlife career change is what you need.

Sure, it sounds a little risky, maybe even scary to give up what you’ve been doing for so long and striking out to what Mark Twain called “the territory ahead.” But breaking out of your current comfort zone can be very liberating.

Believe it or not, for many people, life really does begin at 40.

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Start with the Personal: Managing and Coaching with Empathy

By Natalie Soltys (Kansas City, Missouri)

In a competitive, fast-paced and ever-changing industry such as information technology, caring and nurturing instincts are usually seen as detrimental to success. Oftentimes, women are encouraged to suppress this natural predisposition in order to grow their careers. (For example, check out Karen Firestone’s recent Harvard Business Review piece.)

However, one executive with Cerner Corporation has found her stride by emphasizing these particular characteristics. She uses cooperation, empathy and thoughtfulness to thrive in this Kansas City-based health care information technology company.

“Building strong professional relationships is very important,” explained Tricia Geris, senior director of Corporate Meetings and Events. “I always start with the personal.”

Having built her career from an event coordinator to an executive with a continuously growing team, her approach has certainly been successful over the last 20 years.

Geris admitted that she didn’t start in 1993 with a clear, laid-out path or direction for her career. With hard work, a good attitude and the ability to model her behavior after other successful women, the “growth and recognition just happened.”

The individuals she worked for, most notably Cerner’s current Chief People Officer, had personality traits that she admired and emulated. They were honest, fair and respectful of everyone from the newest associate to the CEO. They impressed on her the importance of being a good listener and not being quick to judge. What truly helped her along were their great mentoring and coaching skills.

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Working Moms Would Choose Pay Equity Over a Year Off Work

By Melissa J. Anderson (New York City)

According to new research by Working Mother Magazine and Chase Card Services, working mothers say that, given the choice, they would rather have a 20 percent raise than a year’s vacation from the workforce.

Jennifer Owens, Editor at Working Mother Magazine and Director of the Working Mother Research Institute, suggested two possibilities for this. “I think that a lot of it is fueled by the economy. Many people have an incredible debt load or maybe a partner with job issues, or they’re thinking about future renovations to their home, or saving for their kids’ education.”

The other part, she continued, may have to do with the difficulties many women face getting back into the workforce after taking time out. “They’re thinking, ‘If I went away for a year and tried to get back in, that’s hard!’”

It’s also worth noting that a 20 percent raise is almost the amount it would take to bring women’s paychecks up to the same grade as their male peers. That’s right – working moms would rather achieve equal pay than get a year’s vacation. How’s that for a fair trade-off?

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Voice of Experience: Mary Strother, Managing Director, Investor Relations, Athenian Venture Partners

By Melissa J. Anderson (New York City)

Mary Strother, Managing Director of Investor Relations at Athenian Venture Partners, has built a successful career out of leveraging her differences.

She explained that if your background varies somewhat from the more traditional CVs in your industry, you’ll have skills others don’t necessarily have. The key is to consider your unique qualities as assets. “I mentor some young college women from time to time, and I took one to dinner recently – she was graduating in accounting and beginning to interview for jobs, but she was worried she didn’t have the same qualifications as some of the more typical accounting grads. I felt the same way going into finance early in my career,” she explained.

“Don’t compare your insides to other people’s outsides. Be bold and focus on what it is you can do. The key is to really practice communicating why your background matters,” she added.

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Thought Leaders: Reshma Saujani, Founder of Girls Who Code

thought-leadershipTo Reshma Saujani, Founder of Girls Who Code, success means taking risks and pursuing your passions – even with the understanding that you might fail. In fact, in her new book, Women Who Don’t Wait in Line, she explores the importance of failure and its connection to risk, and what it means for today’s women.

“It’s about understanding what your destiny is and striving for it,” she explained. “When I ran for Congress, people said ‘it’s not your turn yet.’” Saujani’s run was ultimately unsuccessful. Yet, she explained, she learned a valuable lesson. “It’s embracing failure,” she said. “Often, we feel like we have to do the job to get the job.” By shedding fears around failure and taking big risks, more women could achieve their dreams.

She also learned about the value of sisterhood during her campaign, another theme of her book. “Women have the power to help other women. We have to create a culture where we help each other. I can’t tell you how many women leaders, when I was researching for my book, said they seek to hire women. I want to encourage women to do the same.”

“It’s in our own hands to crash through the glass ceiling,” she added.

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Diverse Mentors Offer Career Inspiration

By Melissa J. Anderson (New York City)

“Have you ever wanted to sit down with the exceptional women executives that have climbed the ranks and ask them how they approach work and life?” asks a new report by the International Consortium for Executive Development Research (ICEDR). The network of top companies and business schools interviewed 60 female executives on how they managed to break through the glass ceiling.

According to Lauren Ready, Director of Talent Management Initiatives and Marketing at ICEDR and author of the report, the goal of the research was to provide a career roadmap for high potential women by asking senior women to complete the phrase, “If I knew then what I know now…”

She explained, “If young women are going to rise to the top, they need to know the secret workings of the business world. We wanted to study the pockets of excellence, the women who are the exception to the rule.”

After all, she added, only five percent of global CEOs are women. The next generation of women leaders has a lot of ground to cover if we’re going to achieve parity at the top.

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Women Continue Outperforming in Alternative Investments

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By Melissa J. Anderson (New York City)

What’s one way to beat the market when it comes to alternative investments? According to new research by accounting firm Rothstein Kass, invest in women.

The new study, “Women in Alternative Investments: Building Momentum in 2013 and Beyond,” reports that hedge funds run by women outperformed the HFRX Global Hedge Fund Index through the third quarter of 2012, producing a net return of 8.95 percent compared to a 2.69 percent net return.

Camille Asaro, a Principal at Rothstein Kass who contributed to the report, said she wasn’t surprised by the data. “We did expect women to outperform, and that’s something that has been the case for the last five years.”

The research can only help make the case for supporting initiatives to bring more women into the industry – and interest in doing so seems to be growing, Asaro said. “I really believe there is more traction for women in the alternative investment industry. This research confirmed what we’ve been seeing first-hand, that there is currently more interest in investing in women-owned and managed funds. This interest does seem to be intensifying although not as quickly as some have anticipated.”

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Promises, Promises. Do You Keep Yours In Business?

Contributed by Beate Chelette

You’re waiting, by the phone, for a scheduled business call or an exploratory communication about a new project. Fifteen, then 20 minutes pass, and no call. Not even a text message explaining the delay. It’s happened to me three times in the last week and it is plenty annoying. Or people RSVP for a seminar they’ve registered for but then never show up. This kind of behavior seems to be popping up everywhere more and more. Have you noticed it, too?

Business experts and sociologists confirm that manners in business are in decline, reflecting a general deterioration of etiquette that is a consequence of changing times, attitudes, and social media. Smartphones make it easier to navigate our social and professional lives, and if you are like me, your gadgets rule your business and personal life. Technology was supposed to make communication easier, but people hide behind e-mail or text messages to cancel appointments last minute or after the fact, or do things that feel uncomfortable to do in person or on the phone. We have all done it. And the result? The standards of what is acceptable for being late and when and how to cancel have been lowered.

There is even a new term for it called “digital flakiness.” But here’s the thing: if you believe that nobody notices that you have fallen into this category, think again. People you do business with will notice. Last week a potential client set up a free consultation with me and missed the first one. His excuse was that he thought the meeting was the following day. Then he contacted my executive assistant to confirm the second appointment only to never show up! This is not someone I want to do business with. This person is not at my professional level.

There are a lot of excuses out there, some genuine and others just ridiculous and they can accumulate and end up hurting your professional reputation.

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