Leave For The Right Reasons

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By Nicki Gilmour, Executive Coach and Organizational Psychologist

Many times, people come to me and they have suffered at work.

Be it a perceived slight, being undermined or even harassed in a very real way. It is normal to want to leave the team, firm or in some cases the industry itself. When coaching, we look hard at whether you just need to leave a manager or whether yes in reality you are ready for a complete change of scene. Knowing what you like doing is crucial and we work on getting to the heart of the matter. But, equally it is important to understand that feelings are real. However, the brain can trick us significantly. There is a cognitive theory by Kant that suggests that we see danger so we think we are in danger (thought) and feel fear (emotion) so we run. Brain science is telling us that if we saw a tiger once, chances are we are hyper-vigilant for the next one. We run sometimes because we are feeling fear due to thinking we see a tiger, before we actually see one.

How do we ensure we do not leave the firm or the industry for the wrong reasons? Women and other minority group members are susceptible to this because often yes we saw a tiger once and that is no lie.

Work with a good coach to know if you are anticipating scenarios before they happen and reason out what impact this is having in how you engage, operate and even consider new roles

If you are interested in hiring an executive coach contact nicki@glasshammer2.wpengine.com directly for a no obligation discussion

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Voice of Experience: Kathleen Kelley, CEO, Queen Anne’s Gate Capital Management

kathleen kelleyBy Cathie Ericson

It’s vitally important for women to find a mentor early on who can help them navigate their path, says Kathleen Kelley. “I was lucky enough to find Paul Jones, who became my mentor, but that was a fortunate accident since I hadn’t set out with that as my mission. It’s important to think about who would be the right mentor and establish that relationship early on.”

After studying math and economics in college — which, incidentally, she believes that all women should take math courses whatever their career aspirations – Kelley became a portfolio manager at Tudor Investment Management. She spent 10 years there, initially doing research and then moving to portfolio management, where she ran a macro portfolio focusing on commodities.

She moved to Kingdon to run a macro portfolio for seven years and then took a year off and moved to London with her kids. When she returned, she started her own fund, Queen Anne’s Gate Capital Management, named after the street they lived on in England. While the firm was focused on the fund when she first started it, it has evolved to offer research as well.

Going out on her own is the professional achievement she’s most proud of, primarily because of the example it sets for other young women. “They need to see the opportunity set available to them, but they can’t if they don’t see other women taking those steps,” she says. “That’s one of the reasons it was important to me to take that risk and start my own firm.”

Currently she specializes in consulting to complement her past 20 years where she has focused on investing and portfolio management. Commodity markets have always been her specialty, and she notes that the recent renewed interest in the space is promising. She also believes there is a trend for hedge funds and asset managers to meet in the middle: As the fee structure and performance of hedge funds have been maligned over the past couple of years, asset managers have been accumulating more of the assets as they broaden their reach. “I believe there are increasing opportunities for companies like mine that serve both hedge funds and asset managers,” she says.

Bolstering Women’s Career Prospects at All Levels

Her focus on the financial world extends to her philanthropic pursuits. Ten years ago she co-founded the High Water Women Foundation, which offers an annual impact investing seminar in the fall and trains volunteers to teach financial literacy. “We were early to the space, which has been growing like crazy, so the program keeps expanding to meet overwhelming demand.”

Kelley admits she is frustrated by the slow progress women have been afforded, especially when you consider the make-up of corporate boards and realize many companies have no women represented. She sees how the problem perpetuates itself: If a man joins a board and they mention they need another member, he’ll call his colleague. “We need to put the same buddy network in place to facilitate this process for women,” she notes.

To that end, she says that most of her friends in the industry are actively promoting other women but can always do more.

Closer to home, she continues to foster her kids’ interest in culture and travel. They are half-Spanish so they visit Spain regularly, and she and her daughter are training together to run the London Marathon.

Kelley serves on seven non-profit boards, including her alma mater Smith College and London School of Economics, as well as High Water Women Foundation.

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Voice of Experience: Victoria Park, Diversity & Inclusion Director at PwC Australia

Victoria Park 200dpi_4111_cropBy Cathie Ericson

Victoria Park believes there’s a real benefit in spending your younger years working with a larger organization where you have ample opportunity to identify your passion, and which allows you to stretch and broaden yourself early on.

She recommends that women surround themselves with a small and diverse group of genuinely supportive mentors and sponsors, formal and informal, male and female. “Rarely is there one role model with whom you identify completely, so ensure you are getting different perspectives to help you find your way.”

An Internal Program Bolsters Her Career

Park relocated to Australia in the late 1990s. “My initial step into financial and professional services recruitment provided the funds for travel en route to Australia and set me onto a different career path completely,” she says. Due to her evident passion for people, she joined PwC in Sydney in an HR role. Over the past 14 years she has built a career in HR at PwC, earned a post-grad diploma in strategic HR and started a family.

She says that in 2006 she found herself at a fork in her career and self-nominated for a development program called the Young Leadership Team, which consisted of five, three-day residential programs.

Park found it to be an incredible experience from the minute she put herself forward; having been with the firm only 18 months and not having the benefit of joining a professional services firm straight out of school, as many do.

When she was selected to participate, she took full advantage of making sure the entire process was beneficial to her learning and career advancement, not the least was just making the decision to put herself out there in a vulnerable way.

Then, she found that the robust feedback she received on her application and the process of interview prep helped her position herself and recognize some of the development points that would be useful for her, including how a breadth of thinking can impact the team. Park says this was one of the most profound experiences in her career.

Along the way she also learned sideways opportunities can be as beneficial, if not more so, in the long term, as you progress into senior leadership roles because diversity of experience is important for long-term success.

Expanding Programs to Support Diversity and Inclusion

Currently she oversees the firm’s Diversity & Inclusion strategy after stepping into the diversity and inclusion program director role 18 months ago, where she found her professional skills, purpose and passion have collided. She had a steep learning curve on some groups she wasn’t as well versed on including LGBT and Australian native groups.

This renewed focus gave the firm the opportunity to reset and look out to 2020 where some recent leadership changes have reinvigorated diversity issues. She notes that there is appetite from the new CEO to see that his legacy around diversity and inclusion is truly embedded in the organization and how they operate with clients and within the firm

“We have done awesome work updating some policies and will have even more success as we overhaul some of the other legacy systems we have in place,” she says, adding that they will be making dramatically different and sustainable changes.

Among the advances they are instituting are a culture change that emphasizes flexibility. The program was introduced two years ago and will be fundamental to their success going forward in attracting diverse workers.

“Organizations that don’t adopt a flexible outlook will miss out on talent,” she says. While there are large opportunities to be flexible in terms of where people work and how they choose to work, she acknowledges it can cause challenges in the short term in changing the standard five-day work week and traditional acceptance of longer hours.

But, by genuinely looking at how teams work, they can offer flexibility for everyone, including supporting males in the role of caregivers. “Flexibility and support for men will allow greater female participation in the work force.”

She finds that work/life balance challenges for women in professional services are impacted by the strong client service ethic, where they assume they need 24/7 accessibility. This has spurred another unintended consequence of limiting the number of senior role models available to show the pathway to younger women coming up.

She herself has been involved in or designed a number of different female leadership programs over the past 10 years.

“The main benefit I and the cohort got from all of them was the opportunity to broaden and deepen the female network,” she notes. She says that they also spent time considering the concept of “swimming against the tide” and acknowledging the feeling most women have encountered where they are in a minority.

Finding Her Own Balance

As technology has evolved over her career, Park has realized the need to consciously consider categories such as hobbies/philanthropy/family/travel as part of how she plans her life. “The distinction between work and home gets increasingly blurred when we consider the traditional working week model we still broadly operate in. By being conscious I strive to ensure that these critical elements of life get the right time and focus to ensure I feel fulfilled.”

As a wife and mother of two boys, ages 9 and 7, she wants to raise them with a positive mental attitude and health, which means being actively involved in their lives and finding time to build a strong connection.

One way to blend the two is to link hobbies to health and family, so they all enjoy running, ocean swimming and sports. She and her husband met working in the wine industry and wine, food and cooking continue to be interests they share.

Over the past few years they have started to share their love of travel, taking the boys on a last-minute trip to Beijing when she was travelling with work, and using the opportunity of trips to the UK to see family and to travel around Europe.

Her philanthropic activity also centers around shared family passions. In 2015 she participated in a fundraising trip to Everest Base Camp to raise money for OzHarvest as her husband is passionate about food wastage at home. “Unfortunately we got caught up in the earthquakes and missed the goal by one day, but luckily we returned safe and unharmed,” she says. More recently she has completed her Bronze Surf Lifesaving qualification and enjoys supporting the local community when on beach patrol.

Through work and outside activities, she wholeheartedly lives this charge: “Have fun, enjoy what you do at least 80% of the time, or change what you are doing.”

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How to Mentor Millennials

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millennials-featuredGuest contributed by Sarah Landrum

Having a successful protégé reflects well on you and adds to the progress of professional women everywhere. So mentally brace yourself for the mentor/mentee relationship.

Remember what it was like to be an inexperienced person? Once you are mentally prepared to start molding a successful protégé, you must then prepare yourself for the patience it will take to get started.

Whether or not you had a mentor when you were younger, you can still relate to the feeling of being the new person in the office. As someone who has now been in the grind for years, you may have a tough time knowing where to start with your mentee. Well, think back.

When you were the new person, what qualities did you appreciate in your colleagues? Most likely, you wanted to work with those who:

  • Were patient with you
  • Answered your questions
  • Never treated you in a condescending way
  • Offered their assistance when they sensed conflict or concerns
  • Took a genuine interest in your work and well-being
  • Helped you to reach your goals
  • Took notice of things you did well, and made helpful suggestions on things they saw that could be improved

Now that you’re on the other side of the mentor/mentee relationship, you can make good use of these memories.

With your mentee, discuss expectations — both yours and theirs. Set goals. Pay attention to their progress. Give feedback. Be supportive. Offer advice, but also listen. And, most importantly, take a genuine interest in their work and well-being.

Appreciate Generational Differences

More than likely, your near-future mentees are going to be millennials. Like every generation, millennials have their own set of concerns, indignations, interests, goals and talents.
Millennials are generally tech-savvy, environmentally conscious, insistent upon equal rights, adventurous, innovative and generally more interested in finding meaningful work than the largest paycheck or the best job security they can get.

However, despite the differences between millennials and non-millennials, all of the millennial-specific qualities can be channeled toward the greater good of a business. It’s up to you, as a mentor, to find the benefits these qualities have to offer, and to guide your mentees to apply them correctly.

Parting Thoughts

No matter who your mentee is — man or woman, intern or new hire, millennial or baby boomer — it’s up to you to help them succeed. The best way to do this is to understand what it means to be a mentor. It takes patience, dedication and a genuine investment in their progress.

If you decide to take on the role of the mentor, embrace the qualities that make you uniquely successful and help your mentee to do the same. And, as you learn and grow alongside your protégé, know that you’re doing your part for the advancement of professional women.

(The views and opinions of Guest Contributors are not necessarily those of theglasshammer.com)

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The Gender Pay Gap

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This month we celebrate Equal Pay Day. Take a look at these informative Pay Gap articles previously published on theglasshammer.

This week we hit “Equal Pay Day” on Tuesday, a day which symbolizes the extra days women must work to make the same salary as her male peers did last year. According to the Demystifying The Gender Pay Gap survey by Glassdoor, the biggest myth about the gender pay gap is that it doesn’t exist at all, as 7 in 10 employees across seven countries assumed men and women received the same pay for the same work. But even when narrowed down to an apples-to-apples comparison within companies, researchers found a significant gender gap exists.

Closing the investment gap for women as well as the better- documented pay gap needs to happen. What is the investment gap? And why are most women, even highly paid professional women still missing out? Sallie Krawcheck just wrote a post about the cost of not realizing what we are missing financially by not investing properly on LinkedIn.

money money moneyYou don’t need to work in a male dominated occupation to find your pay check weighs light relative to your male colleagues – particularly, if you’re in business.

In March 2015, the US Census Bureau released the latest pay statistics from 2013, including median earnings by detailed occupation, showing that full-time working women earn 78.8% of what full-time working men do. The census data revealed that across 342 occupations, women (barely) out-earn men in only nine.

Narrow the Hidden Executive Pay Gap Starting Now

Woman-on-a-ladder-searchingWomen reaching for the top rungs of the executive ladder will want to watch for the hidden pay gap. As Bloomberg writes, “Even top female workers can’t catch a break when it comes to pay inequality.”

As women move to senior ranks, the gender pay gap widens. Your best career management play? Begin closing it now.

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Voice of Experience: Carey Halio, Partner, Finance Division, Goldman Sachs

Carey HalioCarey HalioBy Cathie Ericson

“Your career is a marathon, not a sprint,” notes Goldman Sachs’ Carey Halio, though she admits that while she received this advice early in her career, she didn’t always take it to heart.

“Many of us are hard-driving individuals who want to make an immediate and constant impact, but it’s vital to remember that your experiences, skills and network build upon each other throughout your career.”

Even though she was recently named partner, Halio finds that she still needs to remind herself of this advice, and likens her career to training for a real marathon. “When I first started running, I could only handle one mile, then two, five, and so on, and your career builds in the same incremental way. But, it’s hard to keep that in mind because you don’t have the benefit of hindsight when you’re in the moment,” she says.

Helping the Firm Embrace New Challenges and Growth Opportunities

Before beginning her career in finance, Halio served as a member of the Peace Corps, where she learned the importance of resilience as she worked in Guatemala without access to basics, such as running water and telephones. That experience instilled within Halio the belief that she would be capable of “figuring it out” in any situation, and she was able to overcome her initial intimidation upon joining Goldman Sachs following business school.

“I now see how hugely beneficial my time in the Peace Corps was in teaching me to be resilient and confident to know that things will work out even if you don’t have all the ideal tools readily available. This has been very important in my career and life,” she says.

Halio spent the majority of her tenure in the Credit Risk Management & Advisory Group within the Securities Division before joining Goldman Sachs Bank USA as Chief Financial Officer in 2014.

She notes that her role in Goldman Sachs Bank USA is an exciting position, as the bank was formed relatively recently and now offers consumer lending and deposit products, an area of the financial sector that Goldman Sachs had not traditionally been involved in. “It is very exciting to be part of completely new activities within an institution that has been in business for 148 years.”

Having been in the financial services industry through its ups and downs, she looks back on the tumult as a time of growth. “While the financial crisis was scary, I know that it helped me become a better risk manager, as I was running a team covering companies that failed,” she says. “I grew professionally in multiple ways, learning how to maintain composure in the face of uncertain circumstances.”

A Supportive Environment

In addition to her fulfilling day-to-day work, Halio enjoys the firm’s culture, which encourages mentoring. New female partners are encouraged to pay it forward: She herself has reaped the benefits of a network of women who have been generous with career advice as well as thoughts on childcare and work/life balance. “We need to do the same to keep that spirit alive with our younger colleagues,” she says.

While working at Goldman Sachs, Halio has been active in her division’s Women’s Network, appreciating the opportunity to hear from noteworthy speakers and develop supportive relationships with peers with whom she has “grown up.”

Integrating Balance

While women continue to make major strides in the workforce, childcare and balance remain areas of challenge. As Halio says, with two young boys, no matter how much responsibility she has at work, when she’s home, she’s mom. “I love my work and am proud of what I’ve accomplished but I am still focused on creating a close, engaging family.”

On that note, Halio cites the book “Wonder Women: Sex, Power, and the Quest for Perfection,” by Debora Spar, the president of Barnard College and former Goldman Sachs board member.

Referencing the book, Halio cautions, “You can’t have it all; you have to pick and choose what’s important to you at certain times.” She notes that there are a million things she would like to do, from spending more time with colleagues, to cooking more meals from scratch, but it’s not practical to expect to be able to do everything. She adds that over time your priorities change and you have to make meaningful tradeoffs and have the confidence to make tough choices.

For Halio, that means carefully choosing her outside activities. One that she spends some of her time on is serving as an active board member of her alma mater, Whittier College in Southern California.

She, her husband and sons, ages 3 and 7, enjoy spending their weekends together and reinforcing the family dynamic that can be hard to achieve during the week. They deliberately chose to live outside the city and invest in their community. “I want to provide my sons with a stable, strong foundation and we enjoy hanging out and being part of our town.”

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