Forget the Glass Ceiling, Women Stumble on the “Broken Rung”

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Women Broken RungA study was just released by McKinsey & Co, in collaboration with Lean In, the nonprofit founded by former Meta COO Sheryl Sandberg, and it turns the idea that women only need to shatter the glass ceiling in order to find equity at the top on its head. It found that women face their most formidable challenge not at the top, but when attempting to transition into managerial roles. For every hundred men who are promoted from entry-level to managerial positions, only ninety-one white women make the first step. This powerful disparity is even more pronounced for women of color, with only eighty-nine Asian women, and fifty-four Black women being promoted for every hundred men. The study names this barrier in women’s careers “The Broken Rung”, and it is a major hurdle for women trying to climb the corporate ladder.

The study is not breaking new ground but is a reminder that women are not responsible for the broken rung. They are not failing to seek promotions or leaving their careers more often than men. Instead, systemic biases and workplace dynamics are the root cause. The second key point underscores that women who have similar track records and work experiences relative to their male peers are judged by a different standard. Women often receive promotions based on their past achievements, while men are promoted based on their perceived future potential. The impact of this inequitable orientation has a huge effect on women early in their careers. As the study states without equivocation, until the broken rung is fixed, gender parity will remain out of reach.

While the study does an excellent job of identifying what the broken rung is and why it happens, it falls short when making suggestions for remedies. What do we do to solve this problem? It suggests companies must track inputs and outcomes, de-bias performance reviews and promotions and establish clear evaluation criteria. While these are important, they are the absolute bare minimum.

Below are three things women can do right now to build an unbreakable first rung.

  1. Ask questions
    If you are passed over for a promotion, take steps to ensure that it doesn’t happen again. The first thing to do would be to ask the following question, “I thought Chad and I were similarly situated in terms of our accomplishments. What can I do differently that he is currently doing to make sure that next time I’m able to take the next step in my career?” Often people do not know that their implicit bias is getting in the way of their decision-making process. By having a lengthy conversation about it, this will help the other person not only give you tips on what to do differently but also, in the best-case scenario, self-reflect on what happened. Going in guns blazing can cause people to be defensive, but asking a question is one of the more effective ways of getting people to look more deeply and can be very powerful.
  2. Brag Tactically
    Women are taught not to brag. Men don’t seem to have as hard of a time bragging. To back up this point, visualize Thanksgiving dinners. Often women will do most of the cooking, and then when everyone sits down to eat Uncle Bob proudly announces that he cooked the beans! Men don’t have it wrong. In fact, women should not be afraid to take a page from their book. If you’re uncomfortable bragging, use The Brag Sandwich by bookending your brag with thanks and gratitude. For example, don’t say, “I closed that deal and the company made $2 million. It’s really great!” Instead use the Brag Sandwich and say, “I’m so thankful I was able to work on this project. I closed the deal and the company made $2 million. It’s really great! It was a lot of hard work, but I’m so happy I had the opportunity.” The brag sandwich is easier to say for many, but still gets the point across about your accomplishments.
  3. Turn around
    If you were able to somehow jump over the broken rung, make sure you reach down and pull other women up with you. Given how difficult it is for women, it’s easy to get exhausted. How can you focus on other women when you’re fighting a daily batter yourself? Unfortunately, this is exactly why many women don’t advocate for the women coming up behind them. The flipside of this, however, is that there is safety and numbers. The more women who rise the more we can support each other as we create spaces that are welcoming for all.

The broken rung is not new, but the attention it’s getting is. This is the moment for women to capitalize on this new awareness and push for systematic change. The more women who get past the first rung, the more women can occupy all rungs – and that is how we shatter the glass ceiling.

By: Eliza VanCort, Transformation Teacher and #1 bestselling author of A Woman’s Guide to Claiming Space: Stand Tall. Raise Your Voice. Be Heard (named Maria Shriver’s book of the week), who has dedicated her life to empowering women to live bravely and claim the space they deserve.

(Guest Contribution: The opinions and views of guest contributions are not necessarily those of theglasshammer.com)

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Tara Stafford: Project Manager, PGIM Operations & Innovation

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Tara Stafford“Don’t be afraid to be authentically you,” says Tara Stafford, Project Manager, Operations & Innovation at PGIM. “If you can do that, you’ll be surprised how your contributions can positively impact the business, those around you – and beyond.”

Making a Positive Impact – Both Personally and Professionally

Being “authentically you” at work wasn’t easy for Stafford early in her career. After graduating from Montclair State University with a degree in Business Management and Marketing, Stafford landed at the investment and wealth management firm, Merrill Lynch, as the only Black woman on her team.

“Coming into the financial services industry as a Black woman, I didn’t always have the courage and confidence to be myself because I didn’t see a lot of women in senior leadership positions that looked like me in the industry,” Stafford says.

Tara’s authenticity is most evident when she is serving others in her community. Over the last two decades, she has volunteered as a Girl Scout troop leader to high school girls and is a back-up foster parent to two children on the autism spectrum. Her parents, both educators, instilled the responsibility to serve the community and make a positive impact in it.

Tara worked hard and rose through the ranks over 12 years at Merrill—becoming a Six Sigma Blackbelt and assistant vice president in the Global Transaction division, before leaving to join PGIM’s Risk Management team. She enjoyed her regulatory oversight position, but that feeling she could do more – be more – at work wouldn’t go away.

Then, Stafford learned about an opportunity on PGIM’s Operations & Innovation’s Business & Talent Management team where there is a strong focus on including recruiting, training, employee engagement and diversity, equity and inclusion initiatives. She has made impactful contributions and helped launch and lead PGIM’s Neurodiversity Program, which is focused on establishing a more inclusive talent process – from recruiting, to interviewing, to training and retention, recognizing the skills of those who are neurodivergent. The program also has an education component, teaching managers and employees how to best recruit, work with neurodiverse talent and become better leaders. Stafford feels this role in project management is a natural extension of her passion and values.

According to Employee Benefits News, 85% of autistic adults with a college education are unemployed. “I had an idea of what this untapped population needs were and how to best support and showcase their many talents,” Stafford says. She took on the role and jumped right in, onboarding the first six neurodiverse cohort members last year. Four of the six earned full-time roles within PGIM, and another cohort is currently going through the program.

Stafford credits three important attributes she honed through years of volunteerism and foster parenting with helping her make the program a success: empathy, commitment and patience.

“People connect with you more and receive more from you when you are open and honest,” Stafford says. She believes that an effective leader is someone willing to learn from others, open to receiving “reverse” mentorship and is dedicated to helping others grow and thrive.

“Make sure you share your knowledge. It’s very important for people to understand that we’re not competing with each other; we’re helping each other.”

Finding Mentors and Sponsorship Outside of Your Comfort Zone

Stafford has a unique perspective on the values of mentorship and sponsorship.

“Growth among peers is not a competition, and everyone’s growth path is different. Putting egos aside and collectively pooling our talent and expertise helps ensure that our business’ goals are prioritized, enabling everyone to ultimately be successful,” she says. “At the end of the day, if support and resources I’ve provided can help develop and lift someone else as I climb the corporate ladder, no matter what level they are, I’ve done my job – and I’ve done it well.”

While she wishes she could have had more mentors with a similar background, Stafford says she learned over the years how important it is to find a mentor or sponsor who has different viewpoints.

She explains, “For me, having a white male mentor is just as important as having a mentor who is a Black woman. Your allies can share a different perspective and teach you new things. It’s very important to have mentors and allies from all different backgrounds and walks of life.”

Stafford also believes there’s value in finding a mentor organically—even if it means going outside of your comfort zone to approach someone for career advice or to learn more about their professional experience. “All relationships need to start somewhere, and in reaching out, you’re showing that you fully own your career.” she says.

“It’s also important that you’re giving just as much as you’re receiving in a mentoring relationship, so be prepared and think strategically about who you want to mentor you… especially since mentors can turn into your sponsors – the people who are champions in your corner and advocate for you at the tables where you don’t have a seat.”

Being the Change She Wants to See in the World

As if it weren’t enough to make a positive impact on her colleagues, Girl Scout troops and foster children’s lives, Stafford wanted to make an even bigger difference in her community, choosing to run for her local school board in 2019. Although she didn’t win, she gained valuable knowledge from the experience.

“I learned how tenacious and resilient I really am, and that experience strengthened my connection to my community and broadened my support network,” Stafford says.

When asked what keeps her going when faced with challenges, she emphasizes her passion for change and her commitment to working hard for the things she values. That, she says, is what is most “authentically me.”

“Your values speak to what you will work hard for. Ultimately, what drives me when it comes to making change and serving as a role model is, ‘If not me, then who?’”

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Kimberly Bryant: Founder and CEO, Black Innovation Lab and Ascend Ventures Tech

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Kimberly Bryant“We got to survive to run the race. So, it is very important that we find mechanisms, and we create support systems to save ourselves along this path.”

Kimberly Bryant is the founder and CEO of the Black Innovation Lab and Ascend Ventures Tech. A little over ten years ago, Bryant wanted to see more black and brown girls in computer science, which led to her creating Black Girls CODE to support her young daughter’s interest in coding. Now, she is working on her next set of passion projects; an early startup accelerator to nurture founders in the US South called the Black Innovation Lab in her hometown of Memphis, Tennessee; and a book and advocacy work to support Black women leaders in both the nonprofit and for-profit business space.

“What I wanted to do as a part of the Black Innovation Lab is take all of the knowledge and networks I’ve acquired over the last almost 20 years in the heart and center of innovation back to my hometown to create a space to support founders that come from communities that look like me, and have had challenges, and to show what the pitfalls may be, so they do not repeat some of the mistakes that I made within my career as a leader. It’s to create a solution to finding support and finding supportive spaces where we can thrive as well as maintain that which we create. I really feel that my experiences and my founder journey brought me to this moment, where I can be a mentor, a supporter and advisor to others like me. There has been a recurring theme of mentorship throughout my career both within my previous nonprofit work with Black Girls CODE, and also as a foundation for my work within the Black Innovation Lab and the advocacy work I’ve been doing with other Black women leaders.”

Bryant cites the ‘Black GirlBoss Paradox’ as a crucial phenomenon she has been exploring within her advocacy work alongside other Black women leaders and as part of the OpEd and Equality Now’s Public Voices Fellowship On Advancing The Rights Of Women And Girls. Her efforts to address the ‘Black GirlBoss Paradox’ are focused throughout her written work, research, and the foundation of a future advocacy organization. While distinct from the Black Innovation Lab, these endeavors complement and align with its central themes of equity, inclusion, and empowerment, collectively working toward a more equitable and supportive landscape for marginalized founders and leaders. She describes the ‘Black GirlBoss Paradox’ as the situation when, “black women ascend to a certain level in leadership and they find many obstacles, and many biases around our ability to lead and hold power in current infrastructures.”

Bryant continues, “when I experienced challenges within my leadership journey I was surprised by the number of other Black women who reached out to me publicly and privately to share their similar experiences. I believe we have a crisis with respect to Black female leadership and need transformative change to the nonprofit and for-profit systems which have been a barrier to our ability to thrive and grow in these spaces”.

Bryant is a trailblazer, altruistic and focused on real change. She hopes that future generations of women leaders will be given the opportunity to have safe learning experiences. She recognizes that systemic change may not happen overnight, but as more support is built through organizations and we speak truth to the gendered and racialized biases which exist in our systems today, there will be change over time.

“I want something different for the next generation. Where they are actually given just as much opportunity and chances as their male peers and there is true equity of opportunity in the world to both succeed, fail, and get back up and try again.”

The Significance of Black Innovation Lab – A Continuation of a Legacy

Bryant speaks more about her current project, the Black Innovation Lab, and her hopes for how it will support and empower marginalized entrepreneurs. In Bryant’s words: “I wasn’t looking to come home to build a startup accelerator as much as I was looking for ways to support and nurture other founders and creators such as myself and I wanted to do more than just give advice; I wanted to be able to write a check. There is no lack of talent in the startup economy–however what is not equitable is the access to opportunities and I hope to plant seeds to address this gap with a focus on the US South.”

Kimberly Bryant’s journey as the founder and CEO of the Black Innovation Lab is deeply intertwined with her legacy of community work, particularly her role as the visionary behind Black Girls CODE. Over a decade ago, Bryant’s mission was to create pathways for black and brown girls to excel in computer science. Today, that mission continues to evolve, expanding into the creation of the Black Innovation Lab—a natural extension of Bryant’s dedication to community empowerment. This new venture isn’t just a departure for Bryant; it’s a growth and a commitment to providing resources, mentorship, and opportunities to underrepresented tech founders who often face systemic barriers.

Memphis, nestled in the heart of the US South, is the perfect canvas for this venture. The region is teeming with untapped potential and burgeoning talent waiting to be nurtured. By establishing the Black Innovation Lab in Memphis, Bryant is sowing the seeds for a vibrant startup ecosystem to flourish in the South.

For Bryant, it’s a heartfelt homecoming—a return to the city that raised her. Memphis is where her journey began, and it’s where she now intends to make an indelible mark. As the Lab takes root on the historic grounds of the former HBCU Griggs College, she hopes it will serve as a reminder that innovation knows no boundaries. It signifies a full circle moment—an opportunity to bring transformative change back to the place that helped shape her.

Making Space to Learn from Mistakes

Learning from mistakes can be an invaluable experience for leadership growth, if only given the space to make them and bounce back. Bryant points out, however, that women are not given that grace to the same amount as their male peers.

“Women in leadership, and Black women in particular, are seldom afforded the space to acknowledge and recover from their missteps. While we, as leaders, can grow from our errors and find the resilience to get back on course, there exists a pervasive expectation of perfection that disproportionately affects us. It’s a notion we must challenge because male leaders routinely receive second chances, and organizations often cushion their landings. This safety net is seldom extended to women in leadership roles, forcing us to fight tenaciously to reclaim our positions.”

One valuable lesson Kimberly Bryant gleaned from her own journey was the profound importance of trusting her instincts when making pivotal decisions. She reflects, “Far too often, I allowed my rational mind to undermine the decisions I needed to make. Our intuition and the insights we derive internally from these signals hold tremendous power. We mustn’t allow our logical minds to dissuade us from the choices we should pursue. There’s a popular business adage, ‘trust but verify,’ but I propose a modification: ‘verify first, then establish trust.’ If something or someone feels amiss, it’s crucial to trust your instincts and exercise caution.”

Making Space for Serendipity

Bryant reflects on what it means to be a trailblazer and the importance of taking care of oneself as an innovative leader, particularly as a woman of color.

“You absolutely can be what you don’t see in the world because that is what innovators do. So, if you transfer innovators with trail blazers, that’s what trailblazers do — they see a need in the world, and they find a way to fill it. And I think that the need for each of us that are called trailblazers is unique.”

As a trailblazer and founder, Kimberly Bryant recognizes that, “the endurance piece of being a leader and being able to get to that end goal and not have lost all of yourself, is extremely important.”

In that vein, she rejects the trope of the “strong woman”, as she says, “that needs to be put away in the filing cabinet and not used as a badge of honor because I think it’s important for us to realize that the body keeps the score. The position to ‘warrior’ through some challenging times, it catches up with you, and it catches up with the body.” She hopes to set a different pace in this next part of the road in her career and make time for creativity and space for serendipity.

One of the passions that Bryant has in mind when she talks about making space for serendipity is gardening. She describes gardening as “”a means to re-engage with the natural world, to immerse oneself in the process of nurturing life. It’s about celebrating successes and learning from failures, all while maintaining a profound connection with the earth. My garden is more than just soil and plants; it’s my sanctuary—a place of both respite and revival. Over the past few years, I’ve come to realize that tending to my garden has been a source of profound healing and renewal, a lifeline that has helped me navigate life’s ups and downs.”

It seems a fitting hobby for Bryant who has dedicated her career to growing as a leader and nurturing others along the way.

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Empowering Black Female Professionals: Navigating Career Advancement and Corporate Support

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Empowering black female professionals. Nicki GilmourIn today’s corporate landscape, diversity and inclusion initiatives have gained significant momentum, yet the journey for Black female professionals remains a unique and often challenging one. Everyone is an individual coming to work from different places and backgrounds and it is true that personality traits and opportunities from a young age makes a difference. I speak as someone who lives in a town with many successful Black professionals, and I have a daughter of color myself so I would only want a fair opportunity for her by equipping her for the world and the workplace. Writing this, however, feels somehow repetitive as founder of theglasshammer.com because things only change if we make them change.

People of color are still facing systemic barriers and yet Black female professionals continue to show up to bring invaluable perspectives, skills, and talents to the table. However, to fully harness their potential, it’s crucial to address the obstacles they encounter and recognize the pivotal role that both managers and companies play in their career advancement. It is worth checking out our extensive past coverage on Black women’s advancement and how the Black feminist movement was completely different to the names that we might associate with the topic – bell hooks is less of a household name for example.

Black women in corporate settings often encounter a multitude of challenges that can impede their career progression. These challenges include systemic racism, gender biases, and intersectional discrimination. Tsedale M. Melaku’s book You Don’t Look Like a Lawyer: Black Women and Systemic Gendered Racisim highlights how race and gender create barriers to recruitment, professional development, and advancement to partnership for Black women in elite corporate law firms.

Stereotypes and unconscious biases may lead to being overlooked for promotions or opportunities for growth. Additionally, navigating corporate culture that may not fully embrace diversity and inclusion can be isolating and exhausting with a researched psychological toll of being one of the only senior women of color.

Despite these challenges, there are several strategies Black female professionals can employ to advance in their careers:

Building a strong network is crucial. Cultivating a supportive network of mentors, sponsors, and peers can provide valuable guidance, opportunities, and advocacy. Seeking out individuals who can offer mentorship and sponsorship can help navigate challenges and open doors to new opportunities. Goldman Sachs has a Black Analyst and Associate program that enables connection and learning and has proven to retain and help develop Black and African American talent. Investing in continuous learning and skill development is essential for staying competitive in today’s rapidly evolving workplace. Pursuing professional development opportunities, acquiring new skills, and seeking feedback can enhance capabilities and increase visibility within the organization.

Developing strong communication skills, including assertiveness, can be instrumental in advocating for oneself and expressing career goals and aspirations. Assertive communication involves confidently articulating one’s achievements, skills, and ambitions, as well as setting boundaries when necessary. However there has been research that suggests that women of color fall foul of a negative stereotype of the “Angry Black Woman” so there is a difficult and unfair line to tow as that is not applied to others. #SoftBlackGirl offers solid advice regarding celebrating and communicating wins regularly.

Actively seeking visibility within the organization by volunteering for high-impact projects, participating in cross-functional teams, and contributing thought leadership can increase recognition and demonstrate leadership potential. Advocating for oneself is crucial in ensuring that achievements and contributions are recognized and rewarded. Black female professionals should feel empowered to speak up about their accomplishments, express career aspirations, and negotiate for advancement opportunities.

Corporate organizations play a pivotal role in creating an inclusive environment where Black female professionals can thrive.  To support their success, companies should implement the following initiatives:

Diversity and Inclusion Programs: Establishing robust diversity and inclusion programs that prioritize representation, equity, and belonging can foster an environment where Black female professionals feel valued and supported. These programs should include initiatives such as mentorship programs and leadership development opportunities. These programs have to be useful by design and will not be unless they are supported from the top with an integral place in the talent strategy. These programs need to be structural not superficial. Unconscious bias training has become in mode – and the research is mixed on it- some say that awareness of bias reduces bias but studies show perspective taking is more effective and lasting.

Accessibility and Transparency: Companies should ensure that advancement opportunities are accessible to all employees based on merit and potential, regardless of race or gender. Implementing transparent promotion processes and addressing biases in decision-making can help mitigate disparities in career advancement.

Mentorship and Sponsorship Programs: Creating formal mentorship and sponsorship programs that pair Black female professionals with senior leaders who can provide guidance, advocacy, and career support is essential. These programs should focus on fostering meaningful relationships and providing opportunities for skill development and visibility.

Leadership Accountability: Holding leaders and managers accountable for promoting diversity and inclusion within their teams and advocating for the advancement of Black female professionals is crucial. Leadership accountability can be demonstrated through setting diversity goals, measuring progress, and fostering a culture of inclusivity. You would think it would go without saying that companies must actively address bias and discrimination in the workplace by implementing policies and practices that promote fairness and equity. This includes addressing microaggressions, providing diversity training, and creating channels for reporting and addressing discriminatory behavior.

The journey for Black female professionals to advance in their careers is multifaceted and requires both individual resilience and organizational support. By employing strategic career advancement strategies and advocating for systemic change within companies, Black female professionals can overcome barriers and achieve success. It is imperative for corporate organizations to prioritize diversity, equity, and inclusion initiatives to create a more inclusive and equitable workplace where all employees, including Black women, can thrive and reach their full potential.

Diversity work requires organizational development, leadership, and commitment from everyone. Gatherings in employee resource groups, big ticket speakers and requested assimilation to the model of work, which was built postwar for white men, just isn’t the answer.

Evolved Employer, the organizational development consulting arm of theglasshammer works with companies to ensure companies understand systemically the work that creates a more level playing ground for all to thrive- true talent meritocracy.

By Nicki Gilmour, founder and CEO of TheGlasshammer.com

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Vanessa McMichael: Head of Corporate & Public Entity (CPE) Strategy, Wells Fargo

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VanessaMcMichael“I have a lot of passion for what I’m doing,” relates Vanessa McMichael, Head of Corporate & Public Entity (CPE) Strategy at Wells Fargo. “I want to make the most of each day that is in front of me.”

McMichael shares her insights on finding her niche in the financial industry, using her voice to elevate and empower others, and being a single mother while working towards her career goals.

Putting in the Work

Speaking to what she has learned so far in her career, McMichael maintains, “you have to put in the work. There’s no substitute for it. Any leader that you speak with has put in the work and is still putting in the work. It’s something that I harp on a lot, because it is necessary. It certainly has gotten me to where I am today.”

McMichael is the first person in her family to go to a traditional four-year college, and she recognizes her parents as giving her the grit and work ethic to succeed. Her father, an African American nuclear engineer and small business owner, emphasized to McMichael throughout her childhood, “Vanessa, you have to work hard. You’re going to have to work harder than other people.” It was an important life lesson that aided his own success, and one that he passed on to her.

Giving birth to Vanessa in high school, her mother did not get the chance to graduate and subsequently worked in factories her entire life. When her parents split up when she was young, she witnessed her mother work hard to rebuild her life, demonstrating to McMichael that, “if you want it, you have to go get it. No one else is going to just hand you what it is you think you need.” And, even more importantly, she saw firsthand how women can do it all.

Moreover, Vanessa is a childhood cancer survivor, and this is one of the central reasons why she strives to seize each day. This is also a reason why she has to be mindful about taking on too much, “because it’s easy to do when you’re trying to make the most of every day.” And although her parents taught her how to work hard through leading by example, her experience with cancer was a significant contributor to her drive and work ethic. She highlights that going through an experience like that suddenly, with no prior family history, and as a child, “changes your perspective and stays with you.”

McMichael took these experiences to heart, and it gave her the drive to reach goals she set for herself. After studying Japanese in high school, she attended Howard University’s business school. Initially, she wanted to move to Japan and create commercials, and she thought business school was a good starting point. But instead, she discovered her path to the banking/financial services industry after listening to a presentation by Wachovia on campus. She remembers being struck by the diverse representation of people at the presentation and compelled by the work they described.

After graduating and working for Wachovia for a few years, she then went on to get an MBA from one of the top business schools in the country, the University of Chicago Booth Business School. Following her MBA, she joined a rotational program at Wells Fargo on the trading floor where she had the opportunity to explore different areas of the business. It was during that program that she “stumbled” into the strategy group, an area she has been working in ever since.

Finding Her Niche

Working in the strategy group at Wells Fargo for over a decade, McMichael points to the value of finding your niche and a role that is a “good” fit. In particular, she highlights the variety of work she does day-to-day and the relationships that she has made as what keeps her role fresh and interesting.

“With our clients, who are corporations and public entities, my job is to equip them with what they need to make informed fixed income decisions. So, with that, my day-to-day is always different. I can talk to five retailers in one day, all in the same industry, but the conversations are varied.”

Vanessa added that although each client situation is unique, there has been a shift in the broader conversation with clients this year as the rate environment falls. “We are no longer in an environment where organizations can sit back and earn interest on excess cash so easily.”

Harkening back to her high school dream of creating commercials in Japan, she recognizes that her career at Wells Fargo is maybe not so far off from where she thought she would start: “I’m not creating commercials, but I am creating stories. I’m telling the story of what’s happening in fixed income markets and how the narrative can impact my clients.”

Another element of her job that she enjoys is having the opportunity to speak at conferences that corporate and public entity clients attend. She adds, “That’s probably what I enjoy the most about my job, is getting on stage. I’ve even told folks that I’m probably more comfortable getting on the stage in front of a lot of people than having a one-on-one.”

McMichael recently had the opportunity to speak to a much larger audience when she was interviewed on Bloomberg TV, addressing money market funds and the outlook for 2024. As this was her first live TV experience, she was initially nervous about being on camera, but then she found her rhythm, and it turned out to be a lot of fun.

Mentorship and Sponsorship

McMichael recognizes mentorship and sponsorship as contributing factors to getting her to where she is today, particularly as they not only helped her learn the “rules of the road,” but also “what I need to know” to succeed.

“I’ve had to build mentorship relationships to learn the rules of the road on the trading floor because the rules are not apparent all the time.” She adds that it is important to have both mentors and sponsors because, “sponsors are the folks who are telling me what I need to know and helping me take action to obtain it. I’m sharing projects that I’m working on or what I’m thinking, and they will say, okay, ‘you’re thinking this, you should go meet this person.’ That’s part of the role of a sponsor and the other part is speaking on your behalf when you’re not in the room.”

Using Her Voice

Reflecting on being a woman of color in the financial industry, McMichael believes that she is in control of how she is perceived, so it is important to use her voice to that effect.

“Going into situations, I’m very aware of who I am. I am a woman. I look different. I don’t think people automatically assume that I’m Black because I am mixed. So, I have a voice, and I use it. Instead of shying away or being self-conscious, I use it as an advantage. I want to be a good representative of women, of women of color, and of diverse women. We all have a voice, and we have to advocate for ourselves.”

McMichael takes action and uses her voice by supporting other women through the WomenGoFar network in Wells Fargo’s Corporate & Investment Banking division. While on the committee she created a speed networking event where women had the chance to meet five to ten new people within an hour. It was an impactful way for junior women to get a chance to meet women leaders, who might not otherwise have the time to commit to a longer networking activity during work hours. And likewise, the senior leaders appreciated interacting and hearing from junior women across business lines.

Taking her support for women in the workplace a step further, McMichael recently coordinated a wellness workshop on stress and the impact it can have on the body, particularly as women are often juggling many different demands on their time and energy. This topic is especially important to her given her health history. McMichael is thrilled this initial idea has developed into a Wellness Series and is looking forward to creating additional content to further promote the well-being of women.

In addition to taking action to elevate women, McMichael has a network of African American colleagues that she engages with regularly, whether through sharing job opportunities or articles of interest to keep the dialogue going. “We have Employee Resource Networks for diverse teammates, but this is a grassroots way that I’m trying to engage and educate particularly around internal mobility for our diverse talent.”

These projects demonstrate the value of creating a space for connection that supports the advancement and inclusion of a diverse workforce.

Being a Single Parent and Succeeding in a Career in Finance

Connecting with colleagues who can understand her experience was also an important part of McMichael’s journey, as there was a time that she balanced being a single mother and developing her career. McMichael remembers when she first became a mother, she met senior women around her with stay-at-home husbands, and so her confidence wavered as to whether she would be able to advance in her career without one. She worried that she would be “stuck,” because she did not have the same kind of support. But she met other single parents at Wells Fargo who could relate from a lifestyle perspective.

“That connection with people opened this new life for me. One where I went from feeling isolated and stuck to one where I felt empowered and supported.” She continues, “If I could speak to younger Vanessa, I would tell her not to feel that you can’t be successful in this business, because you’re a single parent.”

McMichael expresses her joy in motherhood and the exciting prospect of sharing her interests with her now older daughter. Recently, McMichael introduced her daughter to salsa dance, a passion she held before becoming a mom. They also enjoy traveling and exploring together. As she looks ahead, McMichael is energized to continue growing and challenging herself at work, while keeping up with her daughter and husband and their busy life at home.

 

By Jessica Robaire

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Op-Ed: Reshaping the Work Landscape – Women’s Work and the Longevity Revolution

women leaders and longevity revolutionLeadership succession is key to project a company forward. Identifying and training new leaders is essential to diversify and spur healthy and creative growth. At the same time, it is critical to ground succession solidly on the acquired experience of older leaders: their knowledge, practices, criteria, ideas, values, and vision.

As leaders, we focus on the company’s interests, and we are committed to the transition process. But it is not easy. Transitioning out of a strong leadership job can be difficult. We love what we do; we know how to do it; we do it well; we have energy. So, we train, we mentor, we transfer, we give power away – and then, we unconsciously may take it back, here and there. It is a struggle, because – as in any transition – emotions arise: the fear of losing relevance, power, purpose. We are excited about what succession opens for others, but we also need to get excited for what the transition brings for us.

Introspecting is necessary to envision a new purpose. Purpose ignites; but it takes time to mature. Consider:

  • Ways to Transfer Value: How to transmit the technical, managerial, creative, or leadership capital we have? Can “transfer methods” – coaching, writing, speaking, training, teaching – become a path to new leadership?
  • New Opportunities Within: What is possible now that was not possible before, within our organization? Can we cross-discipline, create new paths, develop unused skills to open new opportunities?
  • Explore New Enterprise: Is it time to depart in order to focus on long-held ideas that never had their time before? Enterprising anew around services, products, ideas, people.
  • Time to Re-Frame: A gap-time to follow curiosity may help re-frame and re-wire in new directions that may not be visible in the heat of transition.

As we explore, life may feel fragmented; gaining clarity is a process. A third party can be helpful in facilitating introspection and help us redirect our energy and strengths from what we are leaving to what is ahead.

Typically, a company’s succession plan focuses on grooming the upcoming leaders through mentoring, coaching, training – but rarely puts focus on the above re-invention strategies or coaching for leaders who are transitioning out of their roles. There is an underlying assumption that they should figure it out on their own (aren’t they leaders?) or that they will simply disappear, retire. This is old thinking, a 20th century mentality of an 85-year life cycle of Learn-Work-Retire.

We need new thinking about the work cycle: a longevity revolution is taking place.

The global population over age 60 is growing at an unprecedented pace: from 1 billion in 2019, it is estimated to grow to 1.4 billion in 2030 and to 2.1 billion in 2050. High income countries lead this trend: people over 65 are now 30% in Japan, 24% in Italy, 23% in Finland, and 17% in the US. The fastest growing age-group is people over 75, and the second fastest, centenarians. People in their 60’s today, have over a third of their life ahead! My own father, aged 102, is an amazing centenarian, independent, public speaker, learner, friend, traveler, partner. And this phenomenon is even more relevant for us women: we tend to live longer than men; in 2024, a whooping 78% of all centenarians are women.

Not only do women live longer; many women still earn less, comparatively; women may have slowed down work during childrearing years or may be responsible for parents who live longer too, resulting in less overall accumulated resources and wealth. We, women live longer, but we also need to work much longer.

Many older women are still shown or insinuated the door, but the landscape is changing. Women over fifty-five has been the fastest-growing age segment in the workforce. In contrast, the number of men over fifty-five working is projected to decline by 3 percent.

In 2021, Forbes launched its first yearly “50 over 50”, a selection of female leaders in their 50’s, 60’s and beyond, who are making it happen – creators, entrepreneurs, scientists, leaders, CEOs. Natalie de Vries, selected as a leader in my own field of work (architecture) said: “Visibility for women in architecture is crucial to improving equality in our profession.”

How can we support women rising to executive level and then beyond? Below are some key strategies, further developed by Carson College of Business and Harvard Business Review:

  1. Mentor & Sponsor: Support talented females; share, guide, meet.
  2. Hire with Focus on skills, whoever has them.
  3. Deepen Networks: Interact, connect, enrich mutual networks. Connections are crucial for growth.
  4. Intentional Training: Provide talented women with the management tools they need to rise and succeed; even more so to women in fields that traditionally do not educate on management.
  5. Creative Collaborations: Intergenerational, cultural, and thinking-style diversity provokes new thinking and creative solutions. It also breaks stereotypes we may carry about age groups.
  6. Visibility: Public speaking, writings, awards, and public expressions of Thought Leadership
  7. Add Women to Corporate Boards: Executive diversity has shown to correlate with financial health. Role models will inspire other women to reach and achieve.
  8. Cultivate Identity: With growth and age, cultivate a broad identity to include talents, skills, experience, interests, and passions. A broad identity (personal brand) can be instrumental to open future paths.

Women in their 50’s and beyond may have their best working years ahead: with family mission completed, they are highly experienced and driven. They tend to be more team and company focused than self-focused. A study by McKinsey reveals a correlation between gender diversity at executive level and financial performance.

The future of women’s work is also influenced by the tightening labor markets in developed nations, given their declining populations. Companies will be driven to retain their older talent and leaders, who were traditionally transitioned out. This is an emerging imperative for business and illuminates a new angle to diversity.

Myself, l love to work, and I am proud to be a role model for women in the workplace. We are the first generation of women working past our 60’s, changing old age narratives in society, in companies, and within ourselves. We are open to reboot, redirect, recreate, but we have no role models ahead of us. Here we are again, a generation leading how women work. We trailblazed before; we can trailblaze again.

Age offers enormous potential – accumulated knowledge, techniques, wisdom, insights, stories, relationships, ability to ideate, manage, mentor, and speak up. We can continue contributing to companies or to the world as leaders, strategists, problem-solvers, creatives, coaches, speakers, or storytellers. It is up to us to continue to make ourselves visible and relevant, for us, and for the women coming up after us. Soon, they’ll be sixty too.

We summon the courage to reinvent ourselves again and again. We tap into our next superpower – our age.

By Liora Haymann, Managing Director, OBMI International

(Guest Contribution: The opinions and views of guest contributions are not necessarily those of theglasshammer.com).

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