iStock_000008675366XSmallBy Michelle Hendelman, Editor-in-Chief

Last fall, Booz & Company released an interesting report entitled, Empowering the Third Billion: Women and the World of Work in 2012. In this report, researchers attempt to evaluate the impact on the global economy of an estimated one billion women entering the workforce over the next ten years. By placing a value on women in the workplace, the authors of this report hope to encourage governments, business leaders, and key decision makers to invest in developing the knowledge and skills of women in order to unlock their full potential.

The authors of the Booz & Company report address one very important aspect of the problem when it comes to facilitating a career advancement path for women that leads to more leadership roles and senior level positions across all industries. They write, “Despite the admirable efforts of these women—and millions like them in rich and poor countries around the world—they need supportive systems to succeed. Governments and corporations will need to step in with smarter policies that can remove social, cultural, and professional constraints on women and foster greater economic opportunities.”

The Glass Hammer focuses on the developed world for now, so what is interesting about this research is that Booz & Company correctly identifies an issue that is rampant in the United States and Western Europe. That is, the number of women in the workforce is only the tip of the iceberg on the gender diversity issue in the workplace. The bigger question—which has been explored in research by Catalyst—is why are there so few women in executive positions in the Fortune 500?

What are the biggest issues that governments and companies must look at in order to provide meaningful support for women in the workforce? The common global challenges are as follows.

Read more

iStock_000017642294XSmallBy Michelle Hendelman, Editor-in-Chief

Previous research has identified that women do not get as many career-changing jobs as their male colleagues. This imbalance is one of the main reasons why the talent pipeline in many organizations is not as diverse as it should be. The question persists in the gender equality arena: why aren’t there more women in leadership positions? Yet, there is evidence that managers and key decision makers are not giving equal access to women when it comes to opportunities that can positively impact a career trajectory.

This begs the question: is the talent pipeline being managed properly with respect to gender diversity initiatives and leadership development strategies in a firm? Catalyst reports that between 2009 and 2012, the percentage of Fortune 500 female executive officers has remained at a near standstill, increasing slightly from 13.5 percent in 2009 to 14.3% in 2012. What factors are contributing to the stagnancy of women’s career advancement in traditionally male-dominated industries such as finance, technology, and professional services?

In order to get to the bottom of why talented women are not being ushered through the talent pipeline at the same rate as their male colleagues, let’s take a look at some key factors creating roadblocks in corporate gender diversity at the most senior levels of management.

Read more

Philippa NesbitBy Melissa J. Anderson (New York City)

Reflecting on her early career, Philippa Nesbit, Chief Risk Officer at Citi Private Bank and Citi Holdings, encouraged junior women to seek out broad opportunities to learn. “Really, the important thing is getting a diversity of your knowledge base. It’s easier to learn more and get a breadth of knowledge when you are junior. When you are a managing director, it’s hard to get those different experiences. I hadn’t appreciated the importance of that 20 years ago.”

She continued, “Tied to that, make sure you grasp every opportunity. Be really flexible and adapt the ways that you work. Our junior colleagues are from a generation with lots of tools and options to manage their careers – from day one, develop and build your network every day.”

“I attribute a lot of my success to being able to call many people – to get both business perspectives and career perspectives. I will always advise people to ‘push yourself’. Put yourself out of your comfort zone and into decision making roles,” she added.

Read more

iStock_000018133371XSmallBy Michelle Hendelman, Editor-in-Chief

In our conversations with top female executives, we have noticed that one of the most popular topics discussed is the importance of managing your personal brand and how this influences your career advancement. But what exactly does it mean to manage your personal brand and how can you do it effectively? Believe it or not, your personal brand consists of more than your outward appearance. Of course how you present yourself at work is very important, but when you think about your personal brand, you need to take more factors into consideration.

Your personal brand is always working. Whether or not it is working for or against you is completely in your control. Every time you enter a conference room, a networking function, or a team brainstorming session, you need to be thinking about how other people perceive you.

Take a look at the list below to see what factors are the building blocks of your personal brand. Making sure that you are always putting your best self forward can help you get noticed by the people who matter. This could lead to career changing opportunities such as getting a sponsor or being chosen for an overseas assignment.

When managing your personal brand at work, you should take the following factors into consideration:

Read more

iStock_000016657279XSmallBy Melissa J. Anderson (New York City)

A new employee engagement study by Gallup underscores the importance of good management. According to Gallup’s 2013 State of the American Workplace report [PDF], employee engagement is a direct result of the quality of an employee’s manager.

In his opening letter to the report, Gallup CEO Jim Clifton writes, “Here’s something they’ll probably never teach you in business school: The single biggest decision you make in your job — bigger than all of the rest — is who you name manager. When you name the wrong person manager, nothing fixes that bad decision. Not compensation, not benefits — nothing.”

The report showed that only 30 percent of the approximately one million Americans with full time jobs are engaged, and women tend to have slightly (but significantly) higher engagement than men. Supervisors hold the key to unlocking higher engagement – ultimately boosting productivity and customer relationships – by managing employees based on their individual strengths and background.

What’s more, the report suggests, the proper selection and training of managers, with particular attention paid to managing diversity, can mean the difference between a high-performing, dynamic team – and group of employees that actively sets out to dismantle progress. Here are a few of Gallup’s tips for managing for employee engagement.

Read more

Natalie RunyonNatalie Runyon, Director of Global Security at Thomson Reuters, wishes she had known just how important it was to seek out leadership training and development early on in her career. Since she cannot go back in time, Runyon is doing the next best thing. She is developing female leaders through the “How to be the CEO of Your Career” program that she created and launched through the New York City Chapter of the women’s network at Thomson Reuters. Supporting the advancement of women through this program has certainly been one of the most rewarding aspects of Runyon’s career because she gets to combine her passions of leadership training and providing a resource for professional women.

Career Path

One might say that Natalie Runyon’s career path was anything but linear. Yet all of her experiences have contributed to her becoming an influential leadership strategist for women who want to change the world, in her own words. Runyon was born and raised in Louisiana, and after graduating from Louisiana State University with a degree in International Trade and Finance, she was ready to explore life outside the Pelican State. Runyon headed to Washington, D.C. to work for the CIA, an opportunity she secured the year before when working as an intern the summer before her senior year of college. Determined to find her way to Wall St. to work in the financial services industry, Runyon attended The George Washington University part-time, while working for the CIA, eventually earning her MBA.

In 2003, Runyon packed her bags for New York City to begin her career in the Global Security group at Goldman Sachs. “This was shortly after 9/11, and I had the opportunity to get in on the ground floor of the crisis management program,” said Runyon. She continued, “It was in this role that I discovered my love for training at all organizational and operational levels.” Runyon excelled at crisis management, but after a few years she began to feel the symptoms of burnout set in. “Crisis management is 24/7, and when you are working in global security, the work never stops,” she said.

Recognizing the signs of burnout, Runyon took advantage of a unique opportunity in 2008 to work on rebuilding the go to the Gulf Coast and help victims of Hurricane Katrina recover and begin to rebuild from the disaster that hit the area in 2005. “I had a personal stake in this cause,” said Runyon, “since my grandmother lost her home in the hurricane. Helping with the relief efforts also gave me the opportunity to connect with people outside of the office, which was so rewarding.”

During this time, Runyon received her Leadership Coaching Certification, which was a skill she would be able to apply effectively during her time helping the coastal communities of Louisiana get back on track and in her next endeavor. That same year, Runyon had the opportunity to visit Ghana to do humanitarian work with impoverished children. Speaking about her experience working in Africa, Runyon said, “For the first time, I understood on a much deeper level what it meant to be part of the non-dominant group.” She continued, “It was through these experiences that I learned how important it was to give people the confidence to speak up.”

With a renewed sense of purpose and an interest in how to pursue equality in the workplace through leadership development, Runyon returned to her position at Goldman Sachs. By 2011, Goldman Sachs had undergone major restructuring and Runyon’s position was eliminated after several rounds of layoffs. However, like all of the events in Runyon’s career, this bump in the road had a silver lining.

In 2012, Runyon accepted a job at Thomson Reuters in the security team. Following a series of events, Runyon quickly rose to become the most senior person in her region after 5 months on the job. Runyon was able to apply her experience in crisis management and leadership training and development to take charge.

Read more

JohnKeyserContributed by John Keyser

I had the privilege two weeks ago of conversing with Georgetown Women in Business, a club formed by women in the MBA programs at Georgetown University’s McDonough School of Business. They all had worked at least four years in the corporate world before coming back to complete their graduate studies. They are a highly global group, which is true of the university itself, as students are from countries around the world.
Among the topics we discussed was leadership without authority.

As one works her way up, she will frequently be in a position to lead without authority. It is important to recognize that leadership is helping others do the right things well. We may influence 1,000 people, or 100, or even one other person, that team member or colleague who needs inspiration or direction. Be helpful. Be encouraging, Be a friend and a coach. Help others. It’s good for everyone, and for your career!

A woman can do this so effectively by using her natural leadership skills, as the best leadership comes from the heart. These skills include:

  • asking difficult questions
  • listening to understand, and with care
  • having meaningful conversations
  • developing important relationships
  • caring about the village – the team – not being self-consumed

Read more

iStock_000004026171XSmallBy Michelle Hendelman, Editor-in-Chief

The desire for more flexible work arrangements is not limited to just one group of employees. Although workplace dynamics are changing as companies are experience more diversity within their halls than ever before, a common denominator among all employees, not just female employees, continues to be the interest in flexible work arrangements. As more in-depth research is conducted on the benefit of flexible schedules for both employees and companies, there is strong evidence that catering to employees’ needs through more flexible schedules can improve productivity, employee satisfaction, and have a positive impact on the talent pipeline.

A paper on flexible work arrangements published by PwC suggests that newer generations of workers –Gen X and Gen Y –are driving the trend of increasingly flexible work arrangements, but older generations, including Traditionals and Baby Boomers, support flexible schedules as well. This is well supported by the paper, When Work Works [PDF], which indicates that “80% of workers say they would like to have more flexible work options and would use them if there were no negative consequences at work.”

With more employees seeking flexible work arrangements and technology innovations allowing for increased mobile connectivity among employees, firm leaders should take note of the potential opportunities and positive impact flexible schedules can have on a workplace environment.

Read more

Laila Worrell, AccentureBy Melissa J. Anderson (New York City)

Laila Worrell, Managing Director of Accenture’s New York Metro Office, says some of the most important advice she’s received is, “when given a choice, choose on the side of generosity.”

She explained, “We all have demands on our time and resources that we must prioritize.  The advice I share often is to remember to err on the side of generosity.  If given the opportunity to support or mentor someone, view it as a privilege.”

Worrell also emphasizes the importance of building strong networks internally and externally. She noted, “Many of us feel too busy with other responsibilities, but it’s important to prioritize building and maintaining your network.  It can be an incredible resource to you throughout your life and career.”

Career Path

Currently Worrell is the leader of the company’s New York Metro Office, where she is responsible for 4,000 people in New York and New Jersey. She serves on the company’s North America leadership team and CEO Advisory Council, and she also leads the company’s work in the private equity sector.  Initially, though, Worrell didn’t anticipate a career in business.  She recalled, “I joined Accenture immediately after completing my undergraduate degree.  I had majored in liberal arts and was passionate about the academic world. I thought I would eventually return to academics.”

“However, I had an incredible experience with Accenture, and I found I was very passionate about business and helping clients solve some of their most complex business problems,” she continued.  She enrolled in Harvard Business School, graduating with her MBA in 1998.  After several years leading strategy and corporate development for a major media company, she had the opportunity to rejoin Accenture, shaping the company’s growth initiatives in the North American market.

Today Worrell works with clients in the financial services industry and is also involved in the company’s initiative around skills and competitiveness. “Accenture is undertaking work to support an initiative to increase the competitiveness of the United States in the global economy, including by leveraging skills as a driver of economic growth.”

This ties into Accenture’s Skills to Succeed global corporate citizenship initiative, she continued. “One of our economy’s key growth levers is our base of skilled resources.  Accenture is committed to helping even more individuals in our communities gain the skills they need to get a job or start a business.”

The topic of competitiveness is relevant to her work with financial services clients as well. “I spend a lot of time with our clients in the financial services sector. We’re going through an unprecedented period of change in financial services. There is an enormous amount of competitive pressure. The question is how can institutions continue to innovate, transform, and compete in a rapidly evolving environment. It’s fascinating working with our clients on these issues.”

Worrell says the part of her career that has been the most rewarding is helping others advance in their own careers. “When I’ve helped people build confidence to fulfill their potential, to see what’s possible, these are the types of achievements I’ve found rewarding, absolutely.”

Read more

By Michelle Hendelman, Editor-in-Chief

One of the best ways to gain tips and advice for advancing your career is to pick up a few tried and true career strategy books. While it is helpful to keep your bookshelf stocked with business related reading material year-round, the summer months are a great time of year to catch up on those books you keep meaning to pick up, but simply haven’t had the time to.

Choosing the right books that will actually provide you with solid and actionable takeaways can be tough. Your time is precious, and if you are using valuable hours out of your day to read a career book, it better be worth it. This is why we have compiled a list of the top five career coaching books by the people who matter to fully immerse yourself in this summer. These books have all been recognized by thought leaders and influential business people as top notch advice books from which anyone can benefit.

Read more