Men Who Get It: Larry Hughes, CEO BNY Mellon Wealth Management

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By Cathie EricsonLarry Hughes

Larry Hughes “gets it” for many reasons: he knows what it’s like to come from a “diverse” background, since he himself comes from a blue-collar upbringing – not what one might expect from the CEO of a wealth management business. Additionally, he has an ambitious 29-year-old daughter who is much like the up-and-coming women he works with around the globe. But most of all, he “gets it” because a diverse and inclusive workforce makes good business sense.

Hughes has been at BNY Mellon Wealth Management for almost 24 years, holding eight different roles over the years.

And throughout his tenure he has actively championed the business case for diversity. As committee chair of BNY Mellon’s Wealth Management diversity and inclusion committee, he saw the diversity agenda as more than just gender, race, age or religion – he believes it also encompasses social status diversity, a viewpoint he holds due to his background growing up in inner city Boston. The son of a truck driver father and waitress mother, Hughes knows what it’s like to forge his own path. He has held a job every day of his life since he was 10, including working his way through college and his MBA program.

“I value people who are self-made and come from all walks of life; in fact, I consider it an advantage that I didn’t have a privileged upbringing. I had the opportunity to learn so much working my way through school, earning practical expertise that some others may not have.”

Championing Women Formally and Informally

Although he holds an inclusive view of diversity and inclusion, Hughes nonetheless has been a tireless advocate specifically for women’s advancement across the enterprise. He is a keen supporter of a variety of development programs that cover mentoring, rotational development, engagement, internships, career development and career advancement training through an initiative called “Career Talk,” where business leads hold national conference calls that address a wide range of topics focused on skills and capabilities development.

Hughes has mentored talented women over the years both through formal programs and also through informal interactions. “Just today I met with a Wealth Management colleague who worked her way up in the organization from when I hired her as an analyst years ago. I have taken an interest in her development and offer advice whenever I can,” he says. He stresses that each mentorship opportunity teaches him as well.

In fact, that is the goal behind the firm’s Reverse Mentoring program, where he recently spent a day experiencing the challenges of an associate level employee whom he recently spent the day shadowing.

He also holds periodic lunches with a group of a dozen or so relatively entry to mid-level employees, including many women, where he offers career advice, similar to that which he has given his own daughter over the years. “It’s common-sense advice, but, people love it when I share.”

Among the tips are: “Do anything it takes to get the job done; don’t let ego get in the way; working hard still matters – work a little harder than anyone else; and try to understand other people’s objectives and find common ground.”

“One of the most rewarding parts of my job is spending time with employees who are at an early stage in their career, and are so energizing and enthusiastic in a different way than others.”

He also has been a strong advocate for flexible work arrangements. “I am always considering how we can accommodate employees and provide for an inclusive environment,” he says, noting that the issue is important for both men and women, and extends beyond child care to other family care and any case where flexibility might be needed. This is particularly important within Hughes’ business, where the competitive Wealth Management landscape keeps him keenly focused on retaining talent.

Looking Past the Surface

Hughes acknowledges that he has many opportunities to act as a sponsor in his role, because he has the luxury and obligation to step out of the day-to-day viewpoint and look at the big picture. In addition to his role as CEO for Wealth Management, he is also the Chairman for BNY Mellon New England and this provides him the opportunity to influence and help set the tone across business lines and into the broader organization.

“My role is to consider factors like ‘What are we trying to achieve?’ ‘Why is it important?’ I can take the more strategic role as I look at promoting the people who will position our business for success.”

Many times that manifests itself as identifying a candidate who might lack one particular skill but offers leadership potential for the future. Hughes then can figure out how the company can provide resources to coach them around the skill they need to develop. And, at an enterprise level, it also manifests itself in the types of programs and initiatives he supports on behalf of BNY Mellon such as diversity forums and external networking events focused on the advancement of women in the workplace.

Leading by Example

Hughes knows that having a diverse team as direct reports is also crucial. The leaders attend a training program on overcoming unconscious bias and being open-minded about candidates and opportunities. He expects his management team to own and drive the diversity and inclusion agenda throughout their businesses in support of a workplace that attracts and retains diverse talent at every level of the enterprise to support clients globally as a great place to work.

“I make sure I have people on my management team who challenge me, every day,” he says, pointing to his own team which, for example, includes a CFO who is a female African American and is also among other senior women on his management team who bring diverse viewpoints and challenge him differently.

As he considers his leadership team, he notes that across all their regions, there are more women leading markets than men. “If we don’t have a strong and capable group of women in key positions, we can’t be successful in the business,” he says. “Promoting diversity will feed on itself, as more senior women and people with diverse backgrounds become mentors to others who can then see the path ahead.”

Hughes seizes the opportunity to consider diverse candidates when considering internal mobility or external hiring. He sees it as his job to challenge his team to think differently. It’s not always about the perceived easy answer; it’s important to take the extra time and extra step to get it right. Hughes knows that thinking long-term on decisions being made today is critical.

He mentions a specific search for a leader for the largest market, the New York region. Though Hughes didn’t have a predetermined outlook, he said he needed to see a diverse set of candidates, which took time. Without this established focus at the start of the recruiting process they may not have found the senior leader whom they ultimately ended up hiring.

“That’s the kind of thinking we have to put into practice, insisting on being able to consider candidates who are women, LGBT or ethnic minorities,” he says.

Part of his role is to explain to employees why diversity and inclusion matters.

Every business is different but wealth management is very diverse,” he says. “Clients want to know the organization they are dealing with is inclusive, and that people like them are welcome and can succeed. There are communities where you need to have people who can fit in and socialize, or you’ll never be able to connect with them. Without diversity, you’ll only be successful in certain niches.”

“People readily grasp social justice, but I need them to understand the diversity business case as well.”

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Mover and Shaker: Karen Heath-Wade; Vice President of Mutual Fund Sales, Nationwide Financial

Karen HealthBy Cathie Ericson

Karen Heath-Wade, Vice President of Mutual Fund Sales for Nationwide Financial, is a great example of someone who seeks and plans for career opportunities. Over her career in the Financial Industry, Karen has progressed from being an analyst to managing a team of analysts; to conducting external sales to leading the national distribution efforts of external wholesaling teams. Quite simply, she’s performed every job along the way, from her beginnings as a sales assistant to her stint on the “other side of the table” as an advisor. Through it all though, she has maintained that the secret to career success is knowing the industry inside and out, and understanding your current job before you look at the next one.

Read more

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A mutually beneficial approach to engaging men to advance women

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Elegant leaderMuch of what I read about advancing women’s careers has been from the perspective of women. Although this is an important dialogue that we must continue, we are all—women and men—responsible for maintaining a diverse, inclusive culture. By bringing men—especially business leaders—into the conversation, we can reach the best possible solution, so that everyone walks away from the table feeling like they have gained something.

As part of my role at PwC, I lead a series of dialogues with our male leaders that aim not only to educate but also to provide a forum for talking candidly about the challenges they face as they work to strengthen the sense of inclusion our professionals feel in our firm. Bob Moritz, PwC’s chairman and senior partner, has set the tone at the top by prioritizing diversity and inclusion; creating lasting change, however, this requires that all our partners, principals and staff participate in bringing that vision to life.

We have made significant progress, but this journey requires patience, courage and the ability to communicate across differences. In a negotiation, when the parties stop communicating, the process can break down.

Before I delve into what men stand to gain from supporting the advancement of women, let’s take a look at a few ways communications can break down and what we can do about them:

1) Failed connections – In their recent New York Times article, “Speaking While Female,” Sheryl Sandberg and Adam Grant examined an unpleasant gender bias professional women often face during meetings: the risk of being interrupted and unheard (although a man saying the same thing will get nods of approval) or the risk of being disliked or considered too aggressive. For example, a male TV producer helped craft a solution (no interruptions during pitches) that made the entire team more effective. Had the suggestion come from a woman, it might also have gone unheard – thus highlighting the important role men can play in recognizing subtle biases and leveling the playing field for women, so all perspectives can be heard.

2) Fear of engagement – All too often, even well-meaning men don’t speak up for women because they fear making a mistake or being criticized. For example, some white males at PwC have voiced concerns about being automatically labeled “the bad guys” during diversity discussions. As another article by Adam Grant pointed out, individuals struggle to speak for or help groups with which they don’t identify. That changes once the individuals feel they have a vested interest. Helping men and women build stronger relationships and identify opportunities for mutual gain, such as through candid and collaborative dialogues, can be a big part of the solution.

3) Questioned intent – I’ve also heard from well-meaning men that they sometimes feel that women resist their efforts to reach out. Women either did not realize assistance was being offered or they wanted to prove they could do it on their own. We all need to be more attuned to those around us and give them the benefit of the doubt. And men may need to re-examine their approach to help make sure that it is respectful and authentic without the implication that men are here to solve women’s problems.

So with these potential pitfalls in mind, what do men (and the organizations they work for) stand to gain from stepping out of their comfort zone and helping advance women’s careers?

1) Enhanced leadership skills – Investing in relationships and building trust are key leadership skills. When men sponsor and mentor only those who look like them, they overlook important leadership opportunities and alienate potential allies. At PwC, we require our firm leaders to have had distinctive experiences working with diverse professionals, because we believe it will help them broaden their perspectives, while creating a more inclusive environment.

2) Financial success – Many organizations tie leaders’ salaries and promotions to the success of their unit or the overall organization. Several studies show that organizations perform better when women are well represented. PwC’s own research also demonstrates the critical importance of this issue. Bottom line: Diversity drives innovation—a necessity in today’s fast-changing business world. Moreover, when women feel leaders appreciate their contributions and are optimistic about their professional futures, employee engagement increases and turnover decreases—another win-win, particularly given the shortage of skilled talent.

3) Market relevance – In an increasingly complex and global business environment, the ability to work, manage and communicate with people who are different from you is an essential skill. A better understanding of the challenges for women in the workplace can improve men’s interactions with clients and other stakeholders, who increasingly expect cultural dexterity from service professionals. Men who can easily and effectively work and build bridges with diverse stakeholders create opportunities for themselves and their organizations.

4) Personal gain – Like women, many men are more than just business professionals – they are fathers, husbands, uncles and grandfathers. Research from Catalyst shows that gender equality provides significant personal benefits to men, including better health and enhanced relationships with your spouse or partner.

With a lot to gain and little to lose, all men, particularly the business world’s white male majority, need to join the conversation about advancing women. The launch of the HeForSheCampaign’s “10X10X10” initiative, for which PwC is a founding sponsor, at the World Economic Forum in Davos last month, should help take that conversation to a new level, but we as a society still have a long way to go to drive lasting change.

As I’ve learned in my discussions, this change won’t come naturally to all. Organizations need to create safe forums where both parties can share their perspectives and educate their people, because even the most well-intentioned individuals may have blind spots. Women can help bring men into diversity conversations by inviting male colleagues to participate in women’s networking events and encouraging them to act as “allies.” I also encourage my female colleagues at PwC to reach out to senior male colleagues to find common ground. We are often surprised by how much we share in common, and how much both mentors and mentees learn from each other’s differences.

If both men and women can hear each other out and be open to new perspectives, the result can be a winning proposition for everyone in the room.

By Chris Brassell

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A mutually beneficial approach to engaging men to advance women

By Chris Brassell

Much of what I read about advancing women’s careers has been from the perspective of women. Although this is an important dialogue that we must continue, we are all—women and men—responsible for maintaining a diverse, inclusive culture. By bringing men—especially business leaders—into the conversation, we can reach the best possible solution, so that everyone walks away from the table feeling like they have gained something.

As part of my role at PwC, I lead a series of dialogues with our male leaders that aim not only to educate but also to provide a forum for talking candidly about the challenges they face as they work to strengthen the sense of inclusion our professionals feel in our firm. Bob Moritz, PwC’s chairman and senior partner, has set the tone at the top by prioritizing diversity and inclusion; creating lasting change, however, this requires that all our partners, principals and staff participate in bringing that vision to life.

We have made significant progress, but this journey requires patience, courage and the ability to communicate across differences. In a negotiation, when the parties stop communicating, the process can break down.

Before I delve into what men stand to gain from supporting the advancement of women, let’s take a look at a few ways communications can break down and what we can do about them:

1) Failed connections – In their recent New York Times article, “Speaking While Female,” Sheryl Sandberg and Adam Grant examined an unpleasant gender bias professional women often face during meetings: the risk of being interrupted and unheard (although a man saying the same thing will get nods of approval) or the risk of being disliked or considered too aggressive. For example, a male TV producer helped craft a solution (no interruptions during pitches) that made the entire team more effective. Had the suggestion come from a woman, it might also have gone unheard – thus highlighting the important role men can play in recognizing subtle biases and leveling the playing field for women, so all perspectives can be heard.

2) Fear of engagement —All too often, even well-meaning men don’t speak up for women because they fear making a mistake or being criticized. For example, some white males at PwC have voiced concerns about being automatically labeled “the bad guys” during diversity discussions. As another article by Adam Grant pointed out, individuals struggle to speak for or help groups with which they don’t identify. That changes once the individuals feel they have a vested interest. Helping men and women build stronger relationships and identify opportunities for mutual gain, such as through candid and collaborative dialogues, can be a big part of the solution.

3) Questioned intent —I’ve also heard from well-meaning men that they sometimes feel that women resist their efforts to reach out. Women either did not realize assistance was being offered or they wanted to prove they could do it on their own. We all need to be more attuned to those around us and give them the benefit of the doubt. And men may need to re-examine their approach to help make sure that it is respectful and authentic without the implication that men are here to solve women’s problems.

So with these potential pitfalls in mind, what do men (and the organizations they work for) stand to gain from stepping out of their comfort zone and helping advance women’s careers?

1) Enhanced leadership skills —Investing in relationships and building trust are key leadership skills. When men sponsor and mentor only those who look like them, they overlook important leadership opportunities and alienate potential allies. At PwC, we require our firm leaders to have had distinctive experiences working with diverse professionals, because we believe it will help them broaden their perspectives, while creating a more inclusive environment.

2) Financial success —Many organizations tie leaders’ salaries and promotions to the success of their unit or the overall organization. Several studies show that organizations perform better when women are well represented. PwC’s own research also demonstrates the critical importance of this issue. Bottom line: Diversity drives innovation—a necessity in today’s fast-changing business world. Moreover, when women feel leaders appreciate their contributions and are optimistic about their professional futures, employee engagement increases and turnover decreases—another win-win, particularly given the shortage of skilled talent.

3) Market relevance —In an increasingly complex and global business environment, the ability to work, manage and communicate with people who are different from you is an essential skill. A better understanding of the challenges for women in the workplace can improve men’s interactions with clients and other stakeholders, who increasingly expect cultural dexterity from service professionals. Men who can easily and effectively work and build bridges with diverse stakeholders create opportunities for themselves and their organizations.

4) Personal gain —Like women, many men are more than just business professionals – they are fathers, husbands, uncles and grandfathers. Research from Catalyst shows that gender equality provides significant personal benefits to men, including better health and enhanced relationships with your spouse or partner.

With a lot to gain and little to lose, all men, particularly the business world’s white male majority, need to join the conversation about advancing women. The launch of the HeForSheCampaign’s “10X10X10” initiative, for which PwC is a founding sponsor, at the World Economic Forum in Davos last month, should help take that conversation to a new level, but we as a society still have a long way to go to drive lasting change.

As I’ve learned in my discussions, this change won’t come naturally to all. Organizations need to create safe forums where both parties can share their perspectives and educate their people, because even the most well-intentioned individuals may have blind spots. Women can help bring men into diversity conversations by inviting male colleagues to participate in women’s networking events and encouraging them to act as “allies.” I also encourage my female colleagues at PwC to reach out to senior male colleagues to find common ground. We are often surprised by how much we share in common, and how much both mentors and mentees learn from each other’s differences.

If both men and women can hear each other out and be open to new perspectives, the result can be a winning proposition for everyone in the room.

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Career Tip of the Week!

Nicki-Gilmour-bioThis Week’s Tip Is…

Reflect upon your successes and your failures: What can you learn from both?

It is easy to get caught up in the daily stress of getting tasks done, but always take some time to formally reflect on the bigger picture. Whether it is recording in a journal what is working for you and how certain tasks and dynamics are making you feel or unpacking your annual review with a trusted advisor, always ensure that you are learning from the good and the bad experiences.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

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Voice of Experience: Candace Ewell, Principal, PwC US

Candace Ewell“Be open to a career that isn’t exactly what you thought it would be. I don’t know that anyone can predict the opportunities and challenges they will face when they are only 18 and in college,” says PwC’s Candace Ewell.

And that is particularly sage advice coming from a current PwC principal, who spent the first seven years of her career as a nurse. Ewell thought that the healthcare industry would be her career path, but when she decided to go to law school with the goal of studying health law or health policy, a core tax class piqued her interest. “I had a lot of fun in tax; I really enjoyed my professor and the content. It was the first law school class that I really connected with,” she says.

When she returned for the third year, her professor offered her guidance on finding other tax courses and she ended up continuing straight through to complete her Master’s of Law (LLM), in part, she says to prove how serious she was about tax.

After graduate school, Ewell took a position at the IRS Associate Chief Counsel corporate division. While she appreciated the foundation it gave her in understanding the IRS and how regulations and guidance were promulgated, she also felt she was missing the bigger picture on how taxpayers work to be compliant, so she decided to move on.

Ewell’s next stop was in the Office of Advocacy at the Small Business Administration, where she was involved in new ways of thinking about compliance for smaller businesses. While there, she learned all she could from that perspective, but felt the isolation of being the only tax person and decided she wanted to be in a larger community of professionals. She found her home at PwC in mid-2007. “It was a challenging environment to get lots of experience quickly at a faster pace and higher level. It really was a lot of fun.”

In July 2013, she was named principal, which she considers the professional achievement she is most proud of. “I didn’t come to the firm thinking it was an option; I was just looking for an interesting community and challenging work, so being able to achieve this honor is very gratifying.”

Right now she is thrilled to be at the forefront of a new wave of information reporting, a broad subject that has developed over the past years to become more global. She has watched foreign governments embrace information reporting to help improve global compliance. “I get to talk about what I do every day to people and governments that never considered they could ask for so much information. Here in the United States, we have a culture where tax compliance is expected, but it’s not that way everywhere.”

She sees the Foreign Account Tax Compliance Act (FATCA) as having a big impact worldwide. Other new regulations, including basis reporting which follows the sale of securities, that will continue to dominate her work are also of significant impact. Of particular interest to her are the information reporting requirements for payments made on the Internet. “It is fascinating to learn how Internet commerce works and how they engage with their customers and clients.”

“Merging Gracefully”

Ewell learned an important career lesson from her first start in the nursing field, the art of “merging gracefully.” In other words, she says she would often approach a new challenge with the belief that she could bring a new perspective and that she knew as much as other, more established professionals. “That got me in trouble when I assumed I knew more than the people whom I reported to. Through this journey, I’ve learned that when you’re starting a career, you’re excited and focused and yearn to make a big impact. But it’s a matter of picking your spot — you have to see that you will have the opportunity to bring perspective, but you can’t start with the ‘bull in the china shop’ mentality.”

Her other advice to those beginning their careers is to have patience and let your career develop. “We let go of some of our goals and desires because we ‘quit early,’ putting them to the side before we get started. You have to be open for how opportunities will present themselves.”

Ewell says that one of the reasons it was an easy decision to come to PwC was its mentoring program, which includes both a coach and relationship partner. “In addition to the fact that this was a community of high-achieving people, I knew that it would be useful to have designated points of contact to call on and help me get to the next stage of my career.” She says that since she is a bit of an introvert, she finds one-on-one coaching to be the most valuable, among the many other programs PwC offers for women in the workplace.

And she says that she takes seriously the charge to now give back to both women and men and facilitate the opportunities for them to meet their goals. “I try to be as candid as possible about how the firm works and the types of experiences people need to meet their goals. I was lucky enough to have people do that for me and I want to do it for others.”

Carving out Time for Renewal

And, as careers mature, she said it’s key to remember that this is high-pace, high-demand work, and it’s vital to carve out time to renew and take care of yourself, something she thinks all women struggle with.

For Ewell, that renewal comes when she carves out time for her family. Married for 20 years, she has an 11-year-old son who is a swimmer, so they spend lots of family time at the pool. Another favorite family activity is delivering food to seniors together because as she knows, anything you do together becomes family time.

By Cathie Ericson

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Engaging Men: Why Conversation Can Be a Catalyst to Progress

By Aimee Hansen

On September 20th, 2014, British Actor and Goodwill Ambassador for UN women Emma Watson made a speech that implored males to step up to the fight for gender equality, to liberate both females and themselves from the constraints of gender stereotypes. In doing so, she launched the “HeForShe” initiative, proposing “A solidary movement around gender equality.” Vanity Fair called it “game-changing.”

Is everybody convinced the speech and campaign will lead to real change? No. Has it received criticism for falling short of the expectations of what a UN fight for gender equality campaign could sound like, as the voice of women across the world? Yes. The speech and campaign has been criticized for reflecting only a white-privileged grasp of gender inequity, reinforcing a gender binary, reflecting men as saviors who stand up “for” women rather than “beside” women, tempering feminism to motivate men, providing feel good passive activism, and paying lip service to change while providing little clarity on action – among other things.

BUT, did the speech catalyze the public discourse around feminism?

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Black History Month Coverage: Diversifying Diversity for Better Results

diverse women in the boardroomLeadership diversity pays off, and a new study by McKinsey “Why Diversity Matters” has the hard numbers to prove it. It also points out that most corporate diversity programs don’t go far enough to be inclusive of ethnically diverse leaders.

The Glass Hammer has long upheld the “business case for diversity,” and senior women in the corporate space will be pleased to see statistically significant results supporting this argument. More women at the top will indeed help a company perform better. But the study is also a reminder that the definition of diversity extends beyond the group of white women who make up the bulk of those taking part in leadership diversity programs. According to McKinsey, including more ethnically diverse individuals in the leadership tier of companies will produce even better financial performance.

“Diversity matters because we increasingly live in a diverse world that has become deeply interconnected. It should come as no surprise that more diverse companies and institutions are achieving better performance,” write the report authors, McKinsey’s Vivian Hunt, Dennis Layton, and Sara Prince.

According to the study, the top quartile of companies for racial/ethnic diversity in leadership were 30% more likely to outperform the industry median.

Companies in the bottom quartile for gender and for ethnic/racial diversity underperformed compared to their peers. McKinsey urges companies to be more intentional on increasing diversity. While acknowledging that there is more to do before companies approach gender parity at the leadership level, the report shows that efforts toward raising the percentage of women in executive leadership have made a difference.

“The data appears to show that less attention has been given to the attainment of racial and ethnic diversity,” McKinsey says. “By this measure it becomes apparent that for US companies, a dedicated effort would be needed to achieve leadership diversity that begins to reflect the demographic composition of the labor force and the national population.”

Comparatively, companies still need to do much more to improve ethnic diversity in leadership. And according to these numbers, the difficult work of addressing implicit racial biases in the workplace is worth the effort.

“Organizations are often uncomfortable with the discussion of race here in the U.S. and abroad,” says Katherine Phillips, Paul Calello Professor of Leadership and Ethics Management at Columbia University. “Targeting women is easier for organizations because it doesn’t feel as controversial somehow.”

But, Phillips says, there is much that companies can do to broaden their efforts toward improving diversity in leadership and throughout the organization.

“Organizations can better incorporate racial or ethnic diversity targets by first acknowledging that their organizations may not currently be designed for racial minorities to thrive. That was the first step with women – there was an acknowledgment that women had not been so welcomed before and that their needs were not being met. The same acknowledgment needs to happen with racial/ethnic differences to help change things.”

According to Phillips, senior women can help push for more meaningful change at their companies. She encourages the leadership to mindfully sponsor of people of color which will “diversify their own networks and build a broad coalition across these various groups,” she says.

Women who’ve focused on gender diversity have the tool kit to push their companies toward addressing the need for more ethnically diverse leaders as well, Phillips says.

“The barriers and issues may be different but the process of moving the needle is the same – sponsorship and mentorship, vocal advocacy, acknowledgment of biases both explicit and unconscious, and a commitment to changing the status quo are all critical.”

According to the research, businesses with the most women in leadership were 15% more likely to produce above average financial returns. Studies have long shown that diversity makes business sense – teams with greater diversity produce smarter, more collaborative decisions. Research has also shown that companies with more women in the boardroom outperform the market.

But this new research, which crunched companies’ average earnings before interest and taxes (EBIT) between 2010 and 2013, dug deeper. It tracked the gender, ethnic and racial demographics of senior management and boards of 366 large, public companies in the U.S., Canada, U.K., Brazil, Mexico and Chile, and while greater gender diversity produced better returns, greater ethnic diversity produced an even bigger result.

As we move toward a more diverse and global economy, companies that fall to the back of the pack on diversity will also find themselves lagging their peers in terms of corporate performance as well, this study indicates.

Diversity is the competitive edge that most companies are not taking advantage of. By empowering women and ethnically diverse leaders to push into the upper echelons of corporate management, companies will enjoy outsized performance. Unlocking the potential of leadership diversity will take constant and careful work, like any business transformation. But in the end, that work will pay off.

By Melissa J. Anderson

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Engaging Men as Allies: Nine Emerging Practices

Guest Contributed by Chuck Shelton, Chief Executive Officer, Greatheart Consulting

This is the touchstone for successful gender ally development: a man is an ally when a woman says he is.

Allies listen, co-create opportunity, and build a personal brand for accountability and trust. For us men, we aren’t allies to women because we aspire to be, or because we say we are. As men, we’re allies only when specific women are willing to speak about our behavioral support and teachability.

Consider nine emerging practices in engaging men as allies for women’s advancement.

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US Trails European Countries in Women on Boards, Diversity Efforts

By The Glasshammer Staff

According to Catalyst’s board census for 2014, women how hold 19.2 percent of all seats on S&P 500 boards. The U.S. numbers look similar to those in Canada, where women hold 20.8 percent of board seats at companies on the S&P / TSX 60 index.

But in many parts of Europe, the percentage of women on boards has surpassed the numbers in North America that Catalyst reported. Norway has the highest percentage of women on boards of public countries at 35.5 percent, a result of the country’s 2003 quota law that threatens to delist companies whose boards are less than 40% female.

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