Developing Mental Complexity Will Help You at Work (and Life)

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By Nicki GilmourNicki Gilmour

The world is increasingly complex and can be quite confusing these days. How do you ensure you have the guts, glory, stamina and agility to survive all this change?

Mental complexity is the answer according Harvard psychologists Robert Kegan and Lisa Laskow Lahey in their book “Immunity to change”. This is my personal favorite book right now for two reasons; I am writing a paper on behavioral change and also am grateful for the change I have personally experienced from committing to examining paradigms that no longer serve me.

This work can take the guise of coaching but touches on all aspects of your existence and is a vehicle for a happy sustainable life in my opinion.

Kegan and Lahey talk about how we tend to be in one of 3 “minds” or mindsets when it comes to our mental complexity levels and this has nothing to do with IQ.

So, level one is a “socialized mind” and is where the majority of people operate. Certainly, junior and middle managers can be successful here as part of being here requires following, caring what people think of you and generally towing the line be it within a corporation, culture or even a religion. People here are good team players. But, what does one lose by seeing life though this lens? If you do not fit with what the norm is, you might find yourself feeling inadequate and uncomfortable or undeserving in some way.

At work, you may be at the mercy of the effects of politics and feeling not aligned (and in society too). You will fight yourself to get aligned and reduce your cognitive dissonance. At what cost?

The next “mind” is the “Self-authoring” mind which with this increased mental complexity, you can relegate others opinions (and even your own opinions) to an appropriate place where they can be referenced within a bigger system than your own direct value set. Therefore, outliers from yourself and others will not consume you, and instead give you the power to bed the author of our own reality. You get to direct the movie in your head.

I can personally attest when I stared to think with this self-authoring mindset it was growth. It changed my life and I see it work well for my coaching clients and when (if) they get there then I can honestly say the ball is in their court which usually results in happier choices and happiness with choices made as well as robust future decision making ability.

This is particularly good for people who have set high standards for themselves or seek approval from others. This level of processing information will move you from having subjective feelings and suffering the emotional fallout from them to seeing things more objectively and in perspective.

By learning to look at as well as through certain lenses, you can evolve and as Kegan and Lahey put it “ not be forever captive of one’s own theory, system, script, framework or ideology”. Then, you can start to be in the zone of the “Self-transforming mind” where expansiveness around what you see and hear at work is not uniquely filtered to meet your informational needs. In plain English, you can  make meaning on a big picture level and not feel the anxiety around how it effects you which if you are in the socialized mind, will trigger you and make you take it personally. You can care and not be consumed by caring. Doesn’t that sound amazing?

So, how do you build mental complexity to thrive at work and in a crazy world? Tune in next week to find out more….

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Voice of Experience: Hae-Ran Song, Counsel in the Capital Markets Group, Hong Kong, Shearman & Sterling

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By Cathie Ericsonhae ran

“The best part of my job is working alongside my Shearman colleagues, who are not only extremely talented, but with whom I truly enjoy spending time,” says Hae-Ran Song.

She finds this to be a crucial aspect of an office since so much of her work involves teamwork and having one another’s support to get the deals done. “Both senior and junior colleagues have to work in tandem to divide and conquer to successfully execute the transactions,” she says, noting that this carries over to her home life as well. “In the same way, I think having the support and encouragement of my husband and kids in what I do has been instrumental in my success.”

 

Developing Experience Globally

After attending law school in Australia, where she grew up, Song started her career at a Sydney-based multinational law firm, but had always intended to work overseas, preferably in a U.S. firm. That’s why she was delighted when an opportunity to work at Shearman came up after just one year, much earlier than she had expected. She initially joined the Hong Kong office but was able to relocate to the New York office to join her husband in a job transfer, eventually returning to Hong Kong for family reasons.

Along the way, she’s maintained her focus on corporate transactional work, appreciating the opportunity to meet and work with many different colleagues and clients, while feeling supported by the firm in her relocation needs.

She finds her work in Asia advising foreign issuer and financial institutional clients in connection with international and U.S. capital markets offerings exciting. Because Asia is still a growing and evolving market, she constantly is working to address or overcome issues specific to the region, such as local regulatory requirements or hurdles, which means no deal is ever the same — and no deal is ever easy.

“I’m always learning, and I always have to be on my toes,” she says, adding that structuring transactions and coming up with solutions to meet both local and U.S. requirements is particularly interesting since it involves brainstorming to identify creative solutions that will meet the clients’ needs.

 

Balancing The Roles of Full-Time Mom With Full-Time Lawyer

Song says that when she first started her career, she was focused singularly on her job rather than on a potential family. As she became more senior, her priorities changed, and she wanted to have kids and be an involved mom as much as possible.

After she had her first child, she began to wonder if she could be the mom she wanted to be, while simultaneously a full-time attorney, often working crazy hours. “I was worried that I would fall short at both things, but whenever I start feeling that way, I take a moment to realize that I have to stop putting pressure on myself and focus on my priorities.”

She says that while many people wonder how to find the perfect balance between work and family (and a social life!), she’s come to realize that a perfect balance is impossible. Instead, you have to figure out the right balance for you, which is different for everyone. “Don’t let your reality be dictated by what anyone else says or what popular culture says,” she advises.

And while it can be challenging, she is proud of the balancing act she has achieved, calling herself both a full-time mom to her kids, ages 5 and 8, while also a full-time lawyer. She achieves that by realizing that while she can’t always be with her kids, she has to make the most of the time she does have with them, on weekends and evenings. “I choose to focus on what I can do,” she says. “It’s a matter of attitude and perspective and choosing how to balance your time to fit in work, family, travel and hobbies – whatever is important to you.”

Key to that balance is learning to be flexible and adapting to your circumstances, in her case, moving from being single to married to having kids.
It’s also important to know both your strengths and limitations, and to leverage those strengths, such as multi-tasking.

In addition to the support she receives from her family and firm, she appreciates the Shearman initiative WISER (Women’s Initiative for Success, Excellence and Retention) and other opportunities to get together with women colleagues. “It’s important for women to hear each other’s stories, and I find it encouraging when you hear about struggles in addition to successes, so you know you’re not alone.”

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Asian Americans: Held At Outsider Status

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By Aimee Hansen

Asian

Image via Shutterstock

For the first time in history, three Asian American women are in the Senate during this 115th Congress – Senator Mazie Hirono (Hawaii), Tammy Duckworth (Illinois), and Kamala Harris (California). When elected in 2012, Senator Hirono was the first Asian American woman elected to the Senate. Harris is also the first Indian-American to serve in the Senate.

When it comes to Forbes and Fortune power rankings, Indra Nooyi is the only Asian American woman on the lists – #2 in Fortune’s 2016 50 “Most Powerful Women in Business” and #14 in Forbes “The World’s 100 Most Powerful Women.” But as theglasshammer highlighted last year, Forbe’s America’s Self-Made Richest Women tells a different story about Asian American women at the helm: they make up 15% of this ranking.

According to a Girls in Tech survey of 582 women, Asian American women are the least likely to hold leadership positions in tech. This echoed the findings from the previously highlighted Hidden In Plain Sight tech diversity study by Ascend.

The Asian effect is 3.7X greater than the gender effect on creating a ceiling. Women were 42% less likely than men to hold executive roles. But Asians were 154% less likely to hold executive roles than Caucasians. Asian-American women, in the intersection of both, faced the greatest gap in likelihood to hold executive positions.

Persistent Asian-American Stereotypes

As shared in Sparks, Malini Johar Schueller, Department of English professor at University of Florida says that Asian American women are often seen as “perpetual foreigners,” never truly being seen as a “American” (or insiders), but rather as “abnormal foreigners” (outsiders). For Schueller, this means having to “qualify” herself to teach in her department, even to students.

A recent article in Harvard Business Review  suggests that two intersecting stereotypes are at the crux of the general Asian-American leadership gap: “Stereotypes about Asians being highly competent can make Asians appear threatening in the workplace, and stereotypes about Asians lacking social skills make them seem unfit for leadership.”

Studies have revealed that those who held the stereotypes that Asians were highly competent felt admiration and envy. Those who held the stereotypes that Asians lacked social skills felt hostility and fear. People who are emotionally reacting to stereotypes they hold are less likely to have interest in interacting with Asian-Americans. And of course, personal interaction is what can challenge stereotypes.

Leaders who hold stereotypical narratives about Asian Americans would hold them at a distance, and potentially at a distance from leadership.

As stated in HBR,

“The authors of both papers theorized that whites are threatened by the ‘unfairly high’ levels of competence possessed by Asians and essentially use the stereotype that Asians lack social skill as a pretext for discrimination.”

In The Asian American Achievement Paradox, professors of sociology Jennifer Lee and Min Zhou challenge ‘the narrative of Asian American “exceptionalism”’ and the assumption that Asian American educational achievement is solely reflective of cultural values. The authors illustrate that a confluence of hyper-selectivity in immigration laws, institutions, and cultural success frames have promoted high achievement among certain Asian American groups.

The study asserts that while stereotype promise (“the boost in performance that comes with being favorably perceived and treated as smart, high-achieving, hardworking, and deserving students”) may help Asian American students, it also re-creates stereotypes that hinder at the leadership level.

Broken Leadership Stereotypes

As argued in HBR, we tend to expect workers to be “competent, intelligent and dedicated,” but attach further qualities to leadership (charismatic, socially-skilled, authoritarian) that do not match up to stereotypes we hold about Asian Americans.

But it’s not only the mis-match between these two that is flawed when it comes to elevating Asian Americans into leadership. The archaic leadership stereotypes themselves are broken.

“It is time to rethink the ‘good leader’ prototype of being masculine, dictatorial, and charismatic,” states the HBR authors. “Evidence shows that neither men nor women prefer to be treated in an aggressive fashion, yet that model persists as a valid expectation for leadership.”

Cultural values can also mean that Asian Americans are less inclined to the self-promotion that is encouraged by Western norms. However, those who break the stereotype of being deferential face the double-bind of being perceived negatively.

Bridging the Distance

Recently, whitewashing in films – casting white actors to tell Asian stories – has received growing awareness and protest, while Asian American actors find only one-dimensional, stereotype-reinforcing roles available to them.

Thai American actor Pun Bandhu told the Guardian. “When a white actor gets the role, it denies us our bodies and it denies us our voices.”

More and more, we are being asked to consider how we are each complicit within the net of our culture in denying the bodies and voices of others through our implicit biases.

Harvard social psychologist Mahzarin R. Banaji, creator of the the implicit bias test, spoke in a conversation with Krista Tippett about being challenged by her own test when it comes to making associations that go against the socialized norm: “And when I can’t do it, I understand. I understand that I’m a product of a culture where the culture has now gotten into my head enough that I am the culture. I cannot say, ‘There’s a culture out there. It’s biased, not me.’ Consciously, that’s true. But not at this other level.”

When people gather around the meeting room or even the Senate, they all come with their stereotypes and hidden biases, but nothing is more important than the interaction that helps to break down the ideas we hold of each other, collectively.

Three Asian American women in the Senate may not seem like a lot, but each woman is helping to change the face of leadership.

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Should You Say No to Networking?

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Guest Contributed by Kelly Hoey

Networking

Image via Shutterstock

Warren Buffett and Bill Gates attributed their success to one factor. According to Buffett biographer Alice Schroeder, in 1991 when Bill Gates’ dad asked Buffett and Gates what the most important factor for their success was, they both gave the same answer, “FOCUS.”
 
Focus always comes before success.
 
Steve Jobs, no slouch in the success department himself, said that
“it’s only by saying No that you can concentrate on the things that are really important.” 
 
Success is not possible without a clear focus on what matters most and the ability to concentrate your energy, thought and capital. In other words, a key to success is learning to say NO. No to personal and professional invites, business networking events, conferences, industry get-togethers, meetups. All the things you instinctively want to say yes to. I know it’s hard to say no – you feel guilty, you don’t want to disrespect the host, you want to look like a team player, you feel like you’ll miss out on something interesting or you’re afraid that if you say NO you’ll never be invited again.
 
But here’s the key: Ask yourself if that event you’re thinking about attending today is getting you closer to where you want to be tomorrow. By staying focused on where you’re headed, you’ll be able to figure out whether saying no will get you further ahead or is simply an excuse that’s holding you back.
 
2015 was my year of no. I said no to pretty much everything as I was singularly focused on getting a book deal. This project needed my undivided attention, so no it was. I needed to focus and didn’t want distractions. Did I miss opportunities? Maybe. But saying no at this juncture of my career was the right thing to do. That has not always been the case. Saying no at other points in my career would have been a career-killer.
 
When entrepreneur Rachel Hofstetter was growing her business, she knew the strength of her network was dependent on her selectively and strategically saying yes. Rachel founded Guesterly (acquired in 2015 by photo-book subscription service Chatbooks) an on-line service which extends the warm hand of the host by connecting guests before a big event.
 
She focused her networking efforts by keeping both long-term and shorter-term goals in mind. When she was getting ready to raise investment money, Rachel prioritised attending investor and start-up-focused events. When she moved to a new city, she found herself attending every type of event she could, in order to meet people. Expanding her network was why she accepted every invitation and checked out every event, rather than turning them down. When she launched Guesterly into the wedding market (an industry where she previously knew no one), she attended every wedding-industry-related event she could find, in order to figure out exactly where she needed to focus her networking efforts.
 
At this point in her career, she knew not to say no. She knew that her network mattered just as much as the quality of her work. If someone asked if she wanted to head to happy hour- yes. Grab a group lunch? Yes. Those people moved around jobs and industries and that network made introductions that led her somewhere amazing.
 
So, yes, there are networking opportunities you should never say no to, especially in the workplace. Universally saying you will never attend networking events at work is—not to be too dramatic here—career suicide. Never say no to opportunities to get to know your peers and colleagues.
 
Job pressures and competition keep too many of us in our cubicles from the moment we step off the elevator to the minute we run out the door. One Wall Street investment banker I knew regularly ordered in pizza for his group, as a way to bring the team together. This was no “free” lunch: pizza was ordered (and he happily paid for it each week) on the condition that no one could eat alone. It doesn’t take much to break down communication barriers and build team rapport. In twenty minutes you can accomplish more than consuming a slice or two of pizza— you can build relationships.
 
You need to be strategic and sometimes rather selective in which work-related networking events you choose to attend, but don’t apply a universal no to opportunities to share your knowledge with colleagues beyond the radius of your cubicle, or to being further informed of developments in your chosen profession.
 
There are many, many, many ways to limit your career opportunities; take “no to networking” off that list.
 
Disclaimer: The opinions and views of our Guest contributors are not necessarily those of theglasshammer.com
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From Populism to Passive Investing: Theglasshammer.com’s 9th Annual Top Women on the Buyside event

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By Nicki Gilmournicki gilmour

Last month, theglasshammer reconvened for the ninth year to assemble senior women for breakfast where we discussed the outlook and current trends in the investment management industry. The panel consisted of Barbara Reinhard, Managing Director, Senior Portfolio Manager & Head of Asset Allocation of Voya Investment Management, Donna Parisi, Partner, Global Co-Head of Finance and Global Co-Head of Financial Institutions Industry Initiative at Shearman and Sterling, Kathleen Kelley, Founder and CEO of Queen Anne’s Gate Capital Management, Shaiza Rizavi, Partner and Portfolio Manager at Gilder, Gagnon, Howe & Co., and Jitania Kandhari, Head of Macroeconomic Research, Emerging Markets at Morgan Stanley Investment Management. The panelists dynamically addressed questions that were asked by this year’s moderator Amanda Tepper, CEO of Chestnut Advisory Group.

Populism and Protectionism is not good for prosperity

The discussion kicked off with the topic of populism with Jitania Kandhari reminding us this period parallels times in the 20th century specifically, the inter- war period from 1914 to 1945) when periods of boom proceeded busts with the dissatisfaction from those who felt left behind turning to populism. She comments,

“Globalization does bring a lot of prosperity but the elite gain the most. Populists are exclusive not inclusive. They are confrontational not collaborative, and so with reduced commerce and closed borders the results are going to be lowered growth and raised inflation.”

Our panel had varying levels of concern about political risk when it comes to investing but there was an overall agreement on the sentiment that populism and protectionism does not bode overly well for prosperity.

Shaiza Rizavi brought an interesting viewpoint around finding opportunity in the most turbulent of times when she mentioned that many people told her not to go to Kenya in 2008 due to the danger surrounding the dynamics of the election. At the same time, a company she was interested in, Safaricom introduced a new mobile payment platform in Kenya called Mpesa. They had approximately 19,000 subscribers then and now have 26 million subscribers. Payments are made through the platform with many of the poorest being early adopters. Now, 30-40% of Kenya’s GDP now flows via this network. She comments,

“There are growth opportunities even in the most perilous moments if you are willing to take out the fire extinguisher and run into the fire. With the internet and people connected on a second by second basis, you see ideas and flows that were never expected.”

Kathleen Kelley thinks in Europe that we will see higher volatility going forward. She shared an anecdote,

“I did a scientific survey” she says with humor,” of 10 of my male hedge fund friends in London who wanted to vote leave in Brexit and all of them just repeatedly stated that England is the 6th largest economy and that things will be fine.  It is interesting how mindsets are built”.

Barbara Reinhard commented on the fact that this is the first time we are truly having a global acceleration since the financial crisis. She stated,

“Europe is making a recovery. We look at earnings growth and earnings revenue and they are going up, yet the sentiment is still nervous and we are still seeing inexplicably more flows into bond funds than equity funds. Economic expansions die of excess, euphoria and leverage. I don’t see any of these things happening right now.”

Inflation: a reality in the making

The moderator Amanda identified that inflation was a topic that everyone had touched on and asked Kathleen about what is happening in the oil markets.

Kathleen gave an outlook continued OPEC cuts and how the surplus we have in storage is not ending as quickly as we would have hoped. She stated,

“In the 3rd quarter, we might feel the effects of the production cuts and start to draw inventory and that would be a better place for the world to be and not feel like we have so much. If cuts do not continue the price per barrel might be back around the $40’s mark.”

Jitania commented that from a macro perspective, suggesting a period of inflation in the next 2-3 years. She commented,

“China has been exporting deflation and we saw the benefits of that but protectionism and the push to produce locally in the US along with breakdown of trade agreements could definitely create changes.”

Shaiza, often dissenting and providing a different angle, focused on how technological innovation is a deflationary force.

“You start to think about the future differently as many of the historic models wont work for future predictions. The power of connecting people who have never before been connected, and the unleashing of their capability is immense.”

She told the audience how she saw this first hand how lanterns sold to people in Africa and India that previously had no access to light after dark, changed how people interacted and ultimately increased their productivity.

She also mentioned that China’s building a new Silk Road which will allow countries around China to be connected to China and the global economy in an entirely new way. 80% of the China’s oil is currently transported from Strait of Malacca to Shanghai, a journey that took 2-3 months, but with a new port in Pakistan and the 16,000 kilometers delivery journey is reduced to 5,000 kilometers. How will that affect things? She implored the audience to consider the power of change and the power of disruption.

Active versus passive trends

Donna updated the audience with some Citi data on how passive investing has grown to 30% of assets under management by the end of 2015 and how the projection sits at $19.2 trillion of asset flows by 2021. When talking about why has there been a shift, she comments,

“It all comes out of the financial crisis, factor in a lower return environment with lower costs of passive investing and that the banks are not holding risk or warehousing like before the crisis. Also, with improved portfolio risk analysis which is tied to fintech and big data, the way people invest is changing.”

Donna talked about how hedge funds are a maturing market and hedge fund growth is going to be there albeit modest and will hit record levels by 2021. Trends within that sector include liquid alternatives, private debt and private equity so hedge funds are looking to asset classes that are not as easy to access as a headline.

Voya’s Reinhard who has a hybrid of both active and passive commented that as macro driven professionals, she does hunt bubbles and predicts that the tide towards passive has some bubble like qualities that could be worrying for some who just rely on it exclusively. She stated,

“Low cost provider doesn’t always mean highest quality product. In fact, you could argue that passive investing is causing opportunities for active managers. Passive investing, will have at some point unintended consequences.”

Jitania commented on recent research that finding Alpha in investing is cyclical (referencing trends as 1990-94 good for active management, 1995-2000 bad, 200-2009 good and 2010 to current bad). For her business of emerging markets, 40% of returns come from currencies, and she reminded us that is something that you cannot harness with passive investing.

Shaiza again provided interesting insight into the power of disruption and how the private sector can take on roles that the government used to own. She relayed,

“ Amazon for example is now fully capable of handling the logistics of packaging and mail. How will that affect the traditional mail system? Disruptive forces provide opportunity and active investing allows you to be nimble enough to take advantage of that opportunity. “

Outlook and advice

Barbara counseled to watch wage growth carefully for risk mitigation. Kathleen agreed with Barbara with both of them agreeing that US growth is going to disappoint this year and that reforms are not going to be passed in 2017.

Kathleen commented further,

“We are seeing wages starting to pick up and consumer sentiment is high – but they have been behaving different and are stepping back as they see price inflation going up. The stronger dollar is hurting both growth and inflation and keep companies from investing and repatriating “

Jitania offered that China is something that should be watched very closely as China has experienced 82% debt growth over last 5 years. She stated,

“China has added money to its system with many unproductive projects. In 2011, $2 of debt was used to create $1 of GDP and now $5 of debt is used to create 1 dollar of GDP. From a macro perspective, it is definitely something to affect the world since China contributes to a third of world economic growth. “

Jitania added insight into deglobalization and the lingering effects of it on strategy.

“We like countries that have domestic drivers of growth that aren’t relying on external capital flows; countries like Indonesia and even some of the Eastern European countries. From a developed market perspective, we prefer Europe to US. I can buy the top 10 European banks for the market cap of Apple in the US and when something like that pops up on my screen, it feels like distortion.”

Amanda Tepper offered that investor relations is an area that has a positive impact on acquiring assets stating her study which shows that firms with good investor relations result in raising four times more capital than the top performers.

What makes investors choose managers? Performance is not in the top five reasons stated Amanda.

“They want to know what you are doing with their money. Invest in your efforts to explain what you are doing to your investors.”

Donna highlighted fintech as an area to watch starting

“With the existing regulatory schemes, the banking sector has the upper hand when it comes to fintech. We do have a regulatory sandboxes – such as exists in the UK but by and large regulation is a barrier to entry for FinTech startups. Asset management has embraced fintech in the area of data analytics. I think we have seen this most in the retail space with robo-advising and partnerships like Betterment and Goldman Sachs and it is an area to follow.”

Shaiza urged us to rethink the vocabulary we use. Rethinking how we define borders and how we bucket ideas and opportunities. It is an interesting moment to think about the permeability of borders and how technology has changed the ways things get done. She added,

“It might not be possible to even have borders and the protectionism that the populism trend is advocating given technology.”

Barbara added a last piece of advice for all of us in the audience.

“My advice is pay attention to your target date funds – think about yourself for 5 minutes and go check your own retirement funds and apply the advice you give to others when investing money to yourself.”

And, she is right.

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Voice of Experience: Tiffany Wirth, Vice President of Healthcare Marketing, WEX

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Success is not defined by the company you work for; rather, it is defined by your own personality and the opportunities you create for your team and tiffany wirth yourself, says WEX Health’s Vice President of Healthcare Marketing Tiffany Wirth.

“It’s a mindset of, ‘Here’s what I am going to do to build the company and my team,’ rather than focusing on what the company can do for you.”

Wirth has a pinnacle of expertise, with a career that started at the “biggest of the big” companies and then pivoted to a startup.

Directly after earning her bachelor’s degree in marketing, Wirth landed a job at Microsoft. “Gaining a background in a several areas at one of the best brands in the world had a huge impact on my career,” she says. Among the areas where she learned the ropes were product marketing, marketing strategy; and segmenting strategy.

Twelve years later, a core team Wirth worked with at Microsoft replicated the brand’s best practices on a much smaller level at a startup. They successfully built a healthcare benefits technology platform organization, which was acquired by WEX, Inc. two years ago. Although there were challenges in moving from one of the world’s biggest companies to a startup, Wirth found that a key component was a focus on partnerships and relationships. “It’s one thing throughout my career path that has been a constant —  helping partners grow their businesses and helping teammates grow in their skillsets.”

And that is the professional achievement she is most proud of to date – building a brand and marketing team from the ground up. “I’ve built my team by focusing on each person’s unique skill set and how collectively we can deliver tremendous results and a positive ROI to WEX Health and our partners,” she says.

A Network as One of the Building Blocks to Career Success

When Wirth first started her career, she assumed that working hard was what mattered most, and that if she succeeded, she would stay in one place for her entire career, if she chose. While that can be true for some, Wirth soon found out there were so many other measures of success.

Wirth says that having a mentor has played a significant role in her successful career. “A mentor can help you so much with challenging yourself to do and achieve more for yourself, your team, and ultimately, your company.”

Additionally, she says, a mentor can help you believe in yourself and build your confidence to excel at stretch assignments and ask for promotions and/or pay increases.

Over the years, Wirth has found the significance of an adage to ring true: Don’t burn your bridges.

As a woman, she says that it’s natural to gravitate to other successful women, such as Sheryl Sandberg and Arianna Huffington, two people she follows closely. She has found their views to be crucial in understanding work/life balance, particularly Huffington’s current focus on the importance of adequate sleep.

Always Achieving Lessons in Leadership

As a leader, Wirth says it’s important to make sure you’re doing the share of work that makes you credible to the team, and that you are quick to share what went well and what can be improved on. However, she feels strongly that it’s not a female leader’s job to be “likeable. but that being authentic and worthy of respect are more important. She points out that one of the most critical  components of leadership is “EQ,” or emotional intelligence, part of which is to hire people smarter than you, and then give them due credit and celebrat their successes.

Wirth is actively working on a mentorship program at WEX Health and finds that one of the biggest learnings has been to encourage mentors and mentees to do things that make them feel uncomfortable: Although that is naturally hard, showing initiative – even if you’re not 100% prepared – will earn opportunities that could otherwise pass a person by if she didn’t jump in. A huge component is listening, which can be much more valuable than always talking.

She appreciates being part of an organization that invests in her leadership: At WEX Health, she finds that the company invests time and resources to ensure directors are successful in their positions, including offering sessions with an executive coach to build their leadership skills for current and future roles.

Personal Time Means Family Time and Focusing on Health

Married with two children, ages 5 and 11, Wirth finds that the most important thing to do in her free time is to spend it with her family, be present and create memories. When she is not spending time with her family, Wirth enjoys running and working out for both mental and physical health, and she focuses on always getting ample sleep.

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Motivating Millennial Lawyers: More About Possibility Than Precedent

 By Aimee Hansen

Lawyer

Image via Shutterstock

“Millennials bring new ideas and expectations to the workplace, as did the generations before them,” states a 2016 Thomson-Reuters report on The Generational Shift in Legal Departments. But, as the story goes, senior lawyers are resisting those changes.

By 2025, Millennials will comprise 75% of the workforce. The real question is not if change will happen, but how it will unfold.

What Do Millennials Want?

“Working round the clock for high pay and status is not what motivates many young lawyers today” states the FT, noting, “the partnership track has ruptured.”

Millennials work preferences are characterized as valuing mentorship (vs bossing) and collaboration (vs hierarchy), wishing to be involved in processes and decision-making, receiving regular feedback, having opportunities for growth, working for a firm that aligns to their values, and desiring work/life flexibility.

According to an article in the National Law Review, managing Millennials “means an almost 180-degree change in the way associates have been managed in the past.”

With Millennials, It’s Not About Precedent

Acknowledging the resistance of those who have paid their dues, “Old Lady Lawyer” Jill Switzer notes “The problem with the philosophy of ‘suck it up, this is the way it’s always been’ is that it doesn’t seem to really work with millennials.”

The Thomson-Reuters report agrees, “…in-house leaders must prepare to oversee junior lawyers who will not accept doing things a certain way simply because that’s what has been done before, whether it’s the billable hour or using a more formal tone in communications.”

So what can senior lawyers do to motivate Millennial associates?

Make Mentorship Your Management Style

The first step is to meet the individual in front of you.

“I think we all ought to be sensitive to the concept that stereotypes don’t always play out in individual people, and individual people are where it’s at,” Co-chair of the American Bar Association Business Law Fellows Committee and King & Spalding partner Dixie Johnson told theglasshammer. “I personally don’t ever start out a relationship thinking okay, you’re a millennial – here’s how I should relate to you. And I don’t think it’s healthy to do that.”

A Deloitte study found that Millennials who intended to stay with their current organization were more than twice as likely to have a mentor (68 percent) than not (32 percent), but only six percent of corporate legal departments have a formal mentoring program.

If yours doesn’t yet, then consider making mentorship your management style.

“I don’t think of ‘inclusive mentorship’ as a new thing that is needed by Millennials in a way that was not needed by prior generations,” says Johnson. “I just think that my job is to be a mentor and I should look for opportunities to help people who work with me. Part of my job as a senior lawyer is to train younger lawyers about what they need to do really well as lawyers…in the middle of all the work we do.”

Motivate with Context

As stated in The National Law Review, Millennials “are not content to receive a directive such as, ‘Research a particular point of law and prepare an annotated brief on the subject.’ Instead, they want to know about the case, why the research is important for the case and how it will be used to benefit the case.”

Millennials wish to learn and grow through the experience of doing the work, as opposed to just get the job done. They are “Generation Why.” The value in whatever they are being asked to contribute needs to be explicitly connected to the whole, both to the overall project and their personal growth.

“I do think young lawyers who enter the profession recognize some of the work is tedious and not as exciting, but you can learn from everything that comes your way,“ Johnson says. “It’s on us, the more senior lawyers, to help people understand what they can learn from projects.”

Make Feedback Work For You, Too

Growing up in a digital world where everything is “available at their fingertips”, Millennials desire (and expect) regular feedback (not just performance reviews). Iterative feedback may take more time, but it may also deliver more fluid performance improvements while building more mutual respect.

“I do think that we are more successful as managers when we give more feedback.” says Johnson. “I find that when I label a conversation with ‘I want to give you some feedback’  (eg. on relating to clients, on speech patterns) young lawyers are hungry to hear it, and they do take it well. They want to go back and think about it.”

Lead the One You’re With

Thomson-Reuters found that other generations see Millennials more so as “hoppers” and “disloyal” than they see themselves. 76% of Gen X and Boomers thought Millennials would stay at their current job for less than 5 years. 38% of Millennials intended to leave while 47% intended to stay. Still, a longitudinal study found a third of lawyers had changed jobs once only three years out of law school.

Resisting the assertion that job-jumping is a new trend among associate lawyers, Johnson states, “It’s important for more senior lawyers to recognize that part of the cost structure that is built into their firm is that they will spend a lot of time training somebody who then will go off to do other things. And I think that’s a good thing, frankly. At one point I counted up 40 people (that I helped train) that were in different spots in the federal government, and that makes me feel great.”

“I think approaching a work relationship with the reality that you’re both there by choice, and it may not last forever, is just the reality of it,” says Johnson. ”And it has been for a long time.”

Embrace Change

Millennials bring technology into firms, as a lens through which they’ve always interacted with the world. They are also more globally minded  and gender equal in their outlook, and will offer that to the workplace.

“That’s a really exciting thing about having young people who have really not known anything other than technology joining our teams,” says Johnson. ”They will bring to the teams technical advances and a way of thinking about projects that can helps us do a better job.”

This will also change how lawyers work, in a way that brings greater gender equality. The number of legal employees working remotely is rising. The FT points out that the firm Mr. Beedle now employs lawyers on a “consultancy basis”, meaning “full control over hours they work in exchange for a fluctuating salary.”

In order to stay, Millennials need to feel as though they are being valued and developed as leaders, and making a difference at work. In order for managers to motivate the next generation of lawyers, it will require a perspective less bent on precedent and more open to possibility.

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Are After-Work Drinks Sexist in the UK?

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after-work-drinks

Guest Contributed by Beth Leslie

Jeremy Corbyn, the leader of the UK’s Labour Party, recently sparked outrage by labelling after-work socialising as sexist because it “benefits men who don’t feel the need to be at home looking after their children and it discriminates against women who will want to, obviously, look after the children”.

In one fell swoop, he offended everyone. Single women railed at the anachronistic association of all women with housewifery. Mothers were furious by the stereotyped assumption that they are automatically the primary caregivers. Men were offended by the outdated notion that they don’t want to spend time with their children. The British as a nation became hysterical that this left-winged bearded fellow might be trying to take their Thursday night drink away from them.

But then someone pointed out that Carolyn Fairbairn, the first female head of the Confederation of British Industry, had made similar criticisms about after-work culture. Female journalists at the New Yorker and The Independent voiced their agreement too. So is Corbyn actually correct? Are after-work events discriminatory against women?

The Activity vs. The Hour

The debate is particularly problematic because “after-work socialising” means different things to different people. It could be a formal networking event. It could be a casual cocktail with colleagues. Or, as the corporate packages offered by 41% of lap-dancing clubs attest; it could be a client meeting in a strip club.

So while Corbyn’s comments focused on the discriminatory timing of after-work events, many feminist campaigners are more concerned with the nature of these activities. Donald Trump’s recently leaked boasts about sexually harassing women indicates how heartbreakingly common workplace harassment is. 52% of women in the UK say they’ve experienced it, and such harassment is often exacerbated by after-work socialising because it usually involves alcohol and a blurring of the lines between professional and personal life. This problem can exist even within formal networking events, where women complain that many men respond to their networking with flirtation, and where even companies as prominent as Microsoft are curating an environment of objectification by hiring ‘booth babes’.

At the same time, opting out of after-work sessions comes at a cost. Clients are discovered and deals are made at networking events. Bosses give praise and promotions to subordinates they’ve become pally with after a few pints. And co-workers who socialise together build bonds and friendships that drop-outs can feel excluded from.

So yes, there are many aspects of after-work socialising that can be seen as inherently sexist. But the answer cannot be banning all after-work events. Not only would it be impossible to enforce, it is worryingly illiberal. Women-only networking events, meanwhile, seem to partition off the problem more than they solve it.

Businesses Need to Lead a Culture Change

Eliminating sexism from business requires the elevation of the idea that it is not only immoral, but unprofitable. The spate of lawsuits by female professionals who consider a corporate insistence on conducting business in strip clubs detrimental to their career prospects should be encouraged. Companies which engage in sexist practices should be named and shamed on regular and social media. Managers should take complaints of sexual harassment seriously and punish offenders severely. Individuals should be encouraged to speak up when they witness or experience misogyny in the workplace.

It may seem quixotic at first glance, but each hardened opinion contributes to the snowball of social change. After all, most businesses can’t afford to turn off female talent, and even fewer can afford to lose female customers.

The After-Hours Element

Corbyn and his backers, however, appeared to suggest that even the most progressive event is discriminatory if it takes place outside of work hours because of childcare commitments. The problem with this is that it muddles two distinct concepts. Holding an event after hours is not anti-women but anti-parent. However, because of gender stereotypes, working mothers do end up carrying more of the burden than working fathers.

It is the second concept which society and businesses have a duty to eliminate. For companies, this should take the form of implementing and encouraging parental equality policies, such as shared parental leave. Similarly, more work should be done on a social level to equalise the attitudes towards working fathers and working mothers.

Yet turning the plight of an ambitious parent who also wants to spend the evening with their kids into a feminist issue is a mistake, because it further entrenches gender stereotypes about women as homemakers. Ultimately, having children is a choice in the way your gender is not, and exclusion from after-work events because you choose to spend time with your children, however frustrating, is morally distinct from being excluded from after-work events because of sexist perceptions or actions against you.

Advocating for a workplace that is more parent-friendly is a worthy fight and it should not be a sexist one.

Beth Leslie writes graduate careers advice for Inspiring Interns, a recruitment agency which specialises in matching candidates to their dream internship. Check out their graduate jobs London listings for roles, or if you’re looking to hire an intern, have a look at their innovative Video CVs.

Disclaimer: The opinions and views of Guest contributors are not necessarily those of theglasshammer

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What Are Your Mental Models and How Do They Hold You Back?

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 By Nicki Gilmour, Executive Coach and Organizational Psychologist

Models

Image via Shutterstock

When I am coaching within the first 30 mins, I hear mental models and worldviews come out of every client’s mouth. I also hear it in friends and social situations whether I try to or not. Mental models are the paradigms that we walk around with, the inner voice and inner theater that plays inside our heads and is the biggest enhancer or constrainer of our careers and of our lives. This inner voice is built by what we were told as kids by our families, our observations on what we could and could not get away, as well as what society messages us overtly and implicitly.

The point is, if you can understand the phrases that control you and can override the “way it is” and ask yourself why do i believe x, y, z is how it has to be, then great progress can be made.

A typical example of a common mental models that might be standing in your way is:
– Trust is earned. This is obviously a righteous sentence that many of us agree with but at what point are you not trusting your bosses and team and how is that preventing optimal results?

So, how do you begin to change this? It is engrained and hard to shift but entirely possible to do so. Surface it with a coach, understand how it serves you and how it perhaps gets in your way. Does it get you to where you want to go?

I also personally have found reading articles that i agree and entirely disagree with, are entirely helpful to me personally on issues that I know I am drawn to and that are my kryptonite. By opening my mind to seeing things from other people’s angles and viewpoints, I can add to my knowledge on the subject (I tend to go for academic rather than opinion based reading) but also ensure that i am not in an echo chamber of people who believe the same thing as I do.

It is a journey and it does take time, but investigating and exploring what you think and why you think it, can be not only career enhancing as you become a better leader but if you allow it, it can be a gift.

To explore how your mental models are holding you back, book an exploratory coaching call with Nicki at 646 6882318

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Voice of Experience: Suzzanne Yao, Managing Director and Associate General Counsel, Goldman Sachs

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suzzanne yaoBy Cathie Ericson

Many people talk about the importance of being a good mentor, but Goldman Sachs’ Suzzanne Yao knows you also have to be a good mentee: “You have to be open to sharing your goals, asking for honest feedback and listening to those who are providing constructive advice. Tough love is just as important as words of encouragement, and you have to be willing to give consideration to the advice of those who have gone through what you’re going through,” she says.

Yao understands that some junior employees may shy away from soliciting such constructive criticism because it’s natural to seek out a pat on the back. “In some ways you’re afraid of hearing what you can improve on, but looking back I can see that the progress I’ve made has been the result of candid feedback from my mentors.”

She recommends that young women consider a mentor who will give “homework assignments” and help them proactively identify career goals.

An Exciting Time To Be An ERISA Lawyer

Yao started her career in private practice at a major New York law firm, specializing in employee benefits and ERISA (Employee Retirement Income Security Act of 1974), a federal statute that covers every aspect of employee benefits, from how to set up an employee benefit plan to how to manage its assets and pay out benefits.

After four years, she jumped at the opportunity to work at Goldman Sachs after having positive experiences advising the firm while working as a law firm associate. As an ERISA attorney at Goldman, Yao works with both internal and external stakeholders, whether it’s supporting the team that covers Goldman’s benefit plans, helping clients understand the services Goldman provides to benefit plan investors or advising on the rules that govern plan investments.

Currently, she’s focused on new regulatory initiatives in the space, including potentially evolving fiduciary rules that could fundamentally change the way products and services are provided to retirement savers.

“It’s an exciting time to be an ERISA lawyer,” she says, highlighting the interesting intersection of law and politics. “It’s rare to have the opportunity to work on something so large and important to the industry and to people saving for retirement. While most people agree on the importance of Americans saving and investing for retirement, the conversations about the fiduciary rules show how incredibly complex it is to facilitate that goal, particularly since decisions about these rules could affect people across the spectrum.”

Don’t Be Your Own Worst Critic

Yao cautions against women feeling they have to fundamentally change aspects of their personality to succeed in their careers. She says that while being self-aware is important and making adjustments to your presentation or communication styles can be very helpful, fundamentally altering your personality isn’t necessary or healthy.

She also advises against judging yourself too harshly. “We tend to be our own worst critic and sometimes we need to give ourselves a break,” she says. “Realize that even if you didn’t have a week that went as you would have hoped, the following week is your opportunity to start with a clean slate.”

Serving As a Mentor To Others

Yao has been involved in the Firmwide Asian Professionals Network for several years and currently serves as co-head of the Network. She has also served on the mentoring sub-committee of the firm’s Legal, Compliance, Internal Audit and Executive Office Women’s Network and says she met many of her mentors through these affinity networks.

“There is a good deal of overlap on issues women and Asian professionals face in terms of countering stereotypes and maximizing leadership opportunities. Over the years I’ve been able to take my experiences in the Women’s Network and apply them to the Asian Professionals Network, and vice versa,” she says.

Yao also enjoys spending time with those just beginning their career as part of the Sponsors for Educational Opportunity program, which helps underrepresented students maximize opportunities for career success. As an alumna of the program, she considers it a way to pay it forward after interning at a law firm through the program prior to starting law school. Reflecting upon the experience, Yao recognizes that this initial exposure to the legal world gave her a huge boost of confidence as she entered law school, and connected her with mentors who supported her while she was earning her law degree. “Advising junior people involved in the program gives me energy and serves as a reminder of what it’s like to be just starting out.”

Yao notes that it takes resilience and focus to achieve a long-term career and continue to feel engaged and curious after hitting the 10-year mark with the same company. “Looking back at my career thus far is rewarding because I can see all the great relationships I made along the way and how much I’ve learned and matured as a professional. People invest in you and it’s important to recognize that and do the same for others.”

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