Tech Sector’s Lack of Diversity is About More Than the Lack of Numbers

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Guest Contributed by Bill Proudman

It is no secret that the tech sector, for all its innovation and well-intentioned plans to work the problem, suffers from a serious diversity problem. One that will not be solved if they only focus on numbers –as in representation of marginalized groups.

The numbers only reflect underlying cultural problems within the tech sector. In hiring for example, an HR director or manager who only hires people who resemble the director or manager – looks, talks, acts, similar background, etc. – is missing the whole point of diversity. The situation is cultural, engrained, and usually unconscious. Systemic bias is prevalent in our society and its roots run deep into the corporate world. Only with our sleeves rolled up, working to change mindsets from CEO on down, do we begin to see a tangible cultural shift in the workplace.

So while the “numbers” are alarming, fixing the numbers alone is not enough. In their 2016 report, Diversity in High Tech, the Equal Employment Opportunity Commission (EEOC), the federal agency responsible for enforcing anti-discriminatory laws, concluded “Despite rapid transformation in the field, the overwhelming dominance of white men in the industries and occupations associated with technology has remained.”

The EEOC found that tech companies employed 7% African Americans vs. 14% for other industries, 8% vs. 13.9% for Hispanics, and 36% vs. 48% for women. The disparity was more pronounced for executive positions: 83% white, 2% African American, 3% Hispanic, 10.5% Asian American, and 20% occupied by women.

In Silicon Valley, the microcosm of the tech industry, within the top 75 tech firms, African Americans, Hispanics and women made up 3%, 6% and 30%, respectively. By contrast, it was 24%, 22% an 49% for non-tech firms in the same area.

If it were only a “pipeline problem,” one could concentrate on that and it’d be solved, but evidence points to something intrinsically awry within the sector. In one survey, 716 women who had resigned long-term positions in tech companies were asked what motivated them to make such a difficult decision. 192 women (27%) cited discrimination in the workplace related to an array of issues such as gender, age, race, sexual preference, an unsupportive environment, motherhood and childcare.

The ramifications of all this are felt not just morally, but in the company ledger. Replacing an employee costs $5,000 to $10,000, while for executives it’s $50,000 to $100,000. And that is all in addition to the devastating effects of lawsuits and damaged reputations.

White Men As Full Diversity Partners (WMFDP) was founded 20 years ago in order to confront and engage top level white male leadership across the spectrum of corporate America. Fortunately, most leaders are thrilled at the prospect of dismantling cultural bias. When we went to work for Dell, for example, we were met with a stellar level of cooperation.

As Chairman Michael Dell has stated, “A diversity of perspectives, backgrounds and experiences is the catalyst for innovation. That is how we deliver better results for our customers and our team members. For us, a diverse and inclusive culture is a competitive advantage.”

Marie Moynihan, Senior Vice President, Global Talent Acquisition, Dell EMC expanded further by saying, “I’m a very strong believer in the value of diversity. It forces a more challenging conversation and ultimately better decisions. I do think things are changing for the better for women in leadership. Companies are just paying a lot more attention to the evidence that’s out there now which says that a more diverse team can result in better return on equity.”

To address the obvious pipeline issue, one of the most ambitious projects I’ve encountered is called #YesWeCode. Founded by prominent activist Van Jones, #YesWeCode has the goal of teaching computer coding to 100,000 youth from inner cities and underrepresented minorities. Partnering with tech monoliths Google and Facebook, “Yes We Code aspires to become the United Negro College Fund equivalent for coding education,” Jones said. “Yes We Code exists to find and fund the next Mark Zuckerberg and Sheryl Sandberg in communities you would never expect to find them.”

By 2020, it is estimated that the tech industry will need another 1.4 million jobs filled, but only 400,000 US workers will be qualified to fill them. #YesWeCode and other forward-thinking organizations are taking advantage of this massive opportunity to diversify the tech industry, and in so doing create a paradigm shift in America.

Whether you intend to disrupt an industry, make a ton of money or save the planet, the disparity in high tech and other sectors serves as a lesson for the entrepreneur. I am confident that startups and companies that embrace diversity and inclusion, that challenge themselves and others, will emerge as the definitive leaders. That is because a diverse world calls for a diverse workforce of brilliant minds.

Recognizing our differences and similarities leads to new ways of breaking down problems, enlightening conversations and innovative solutions.

In an often turbulent world, that’s exactly what we need.

About Bill Proudman:

Bill Proudman is WMFDP co-founder and CEO. He pioneered white-men-only workshops in the ’90s after noticing white male leaders repeatedly disengaging from diversity efforts. Bill’s provocative work led to founding White Men As Full Diversity Partners. For over 35 years, he has served as a leadership development consultant, coach and facilitator to countless organizations on issues of team effectiveness, cultural competency, and diversity.

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Tips on Building on Your Company’s Commitment to Diversity

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Guest contributed by Karina DeLaCruz, Diversity Executive at CSAA Insurance Group, a AAA Insurer

diversity

Image via Shutterstock

Companies that embrace diversity can better reap the economic benefits of a diverse and inclusive workforce — and increasingly diverse markets. Our growing diversity as a nation and the impacts of globalization underscore why it’s critical for companies to embed the value of diversity and inclusion in their policies and practices for long-term success.

Diversity has an impact and is proven to drive engagement, innovation and profitability – all of which have very real bottom-line impacts:

Diversity drives engagement. Organizations that capitalize on the strengths of all employees – and leverage their differences and unique values – have the most engaged employees. Employees with the highest level of engagement perform 20 percent better and are 87 percent less likely to leave the organization than employees with low levels of engagement, according to a study by the Corporate Leadership Council. Engaged employees are more satisfied at work and more productive, and are more likely to stay with an organization and contribute to its success.

Diversity drives innovation. By bringing together different backgrounds, skills, and experiences, businesses are better positioned to develop innovative solutions needed to succeed in an increasingly competitive economy. Forbes Insights conducted a survey of more than 300 senior executives: among companies with more than $10 billion in annual revenues, 56 percent strongly agreed that diversity helps drive innovation.

 Diversity drives profitability. Numerous studies have demonstrated a business benefit to diversity. Deloitte highlighted research of 506 U.S. organizations showing that organizations with greater racial and gender diversity performed better in terms of sales revenues, number of customers and market share. Catalyst looked at Fortune 500 companies with the highest representation of women board directors and they attained higher financial performance, on average, than those with the lowest representation of women board directors.

 How do we get started?

If not approached strategically, diversity can feel like “just one more thing” employees are asked to take on. Consider these three key components in building out your diversity and inclusion strategy:

  • Get clear on the business outcomes you’re looking to drive through diversity and inclusion. Make sure you fully align those outcomes with company strategy.
  • Secure C-suite commitment — and their active, visible engagement with your efforts.
  • Embedding diversity in your company’s core values helps ensure that it is considered in strategy development and execution, and considered when critical decisions are made.

Launching a diversity and inclusion program – or expanding efforts – may require having difficult conversations to break through unconscious biases and educating leadership on how the program supports company goals and can benefit the employees and customers. Only when that foundational work is complete can you fully implement a successful diversity and inclusion program and reap the benefits.

How do you measure success?

No matter how much value you believe the program brings to the company, it’s important to track results. We look at metrics focused on key initiatives in each of the four pillars of our diversity and inclusion strategy. These include:

  1. Workforce: reflecting the diverse communities we serve
  2. Workplace: influencing company culture through diversity and inclusion
  3. Community/Marketplace: strengthening our brand in the marketplace through outreach, philanthropy, volunteerism and business partnerships with organizations that have similar values
  4. Members/Customers: weaving diversity and inclusion into the fabric of our business strategy and using it to better understand our customers’ needs and expectations

We developed a scorecard to measure success. For example, for the workplace pillar we look at our workforce representation, as most companies do. We also have a diversity index within our annual employee engagement survey that allows us to measure our effectiveness in providing an inclusive work environment. When it comes to community and marketplace, we evaluate how we’re doing in the area of supplier diversity and whether we’re increasing our community presence in terms of volunteer hours and community events hosted by the diversity and inclusion team.

The future of diversity and inclusion

Twenty years ago when we talked about diversity, the focus was on race, ethnicity and in some cases, sexual orientation. More companies are shifting their focus from diversity to inclusion or belonging. Diversity is a fact. Inclusion is a practice. Equity is the goal.

Ultimately, diversity and inclusion is a journey with no finish line. We all can play a role in helping create a more welcoming environment at work, while also enjoying the competitive advantages of inclusion.

Karina DeLaCruz is the Human Resources Consulting and Diversity Executive at CSAA Insurance Group based in Walnut Creek, CA.  She has extensive background and expertise in Human Resources, Diversity and Inclusion, Leadership Development, Business Operations and Customer Service.  In her role at CSAA Insurance Group, she is responsible for the design and execution of the company’s diversity and inclusion strategy and oversees all of their diversity and inclusion initiatives and programs.

Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com

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Not to Be Missed Articles

Did you miss these popular articles? Take a look at the articles below previously published on theglasshammer.com

breakup

Why it’s a Bigger Issue than Work-Family Conflict

By Aimee Hansen

The culture of chronic overwork isn’t working in many ways, but there’s one way it works too well: upholding gender inequality.

Professor Robin Ely of Harvard Business School, co-author of a recent study released by the Gender Initative, tells us “It is the culture of overwork—not women’s work-family conflict—that locks gender inequality in place.”

According to Ely and her co-authors, the focus on work-family conflict is a gendered diversion from the bigger 24/7 work week problem that deflects long hours as a women’s issue.

We spoke to Ely about the dilemma, what needs to change and what women can do.

Career Progression – Moving Sideways and Diagonally to Move Forward

By Nneka Orji

Most of us will be familiar with the typical career path within big corporates; the graduate entry role, the progression to middle management, and for a few who meet what are deemed to be the prerequisites, the senior management and leadership positions are within grasp. Career progression – in the traditional sense – has been valued by the pace at which individuals make it the top of the organisational hierarchy, and any move off the ladder or taking a non-traditional route has until very recently been viewed as detrimental to achieving the end goal. However things are changing; with technological advancement, evolving needs of the workforce, and a more diverse talent pool, the perception of a successful career is being challenged and new forms of career paths are being introduced. Could an unconventional career path lead to a more fulfilling and sustainable career?

 

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Working Women: It’s Time to Take Charge of Your Career

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women working mentoring
Guest Contributed by Lexie Dy (readyjob.org)
There is something within a woman that dares to defy the odds of limitations. Where there is a giant, she silences it. Where there is a mountain, she moves it. Where there is a glass ceiling, she shatters it. She carries a remarkable strength and unmistakable determination to meet her goals. She is brave and she is successful. “She” is you.
 
Sometimes all that it takes to reach our full potential is a reminder of who we are and what we can accomplish. It’s time we stop chasing our dream career or position and start taking charge of them. It’s time to shake up the business norm and not only achieve your dream career, but excel in it.
 
The positive influence women can have in the workplace is undeniable. Research shows that the presence of women (and other minorities) at the executive level of companies and in the boardroom can have what’s called a “panel effect.” When women bring their perspectives and experience to the C-level, they are able to influence white male executives on diversity, fairness, pay equality, and more. By reaching for the stars and obtaining a position of leadership, you earn the power to re-shape women’s role in business by hiring CEOs, setting executive pay, investigating discrimination, and approving executive promotions. Your success and that of those around you should be based on skills and talent, not gender and ancient stereotypes.
 
Whatever you envision as your ideal career, you can get there if you work for it. What is that thing you daydream about? You have talked about it for a while now and you would be doing it full time if only you knew how. This is how you do it: study other successful people in your field. Rub elbows with other women in positions of leadership who are where you want to see yourself and build a network. Pick their brains and discuss the ways in which they overcame the obstacles they most certainly faced.
 
 When you are up-close and personal with your own plan, it is easy to miss the 360-degree view of the rest of your world. Stay up to date with current events in your field, and learn from the people who are succeeding in unprecedented ways. Not only will you be able to apply the insight you’ve gained from other success stories, but you might impress your colleagues with a well-informed understanding of your industry.
 
To all of the women who feel like they are at a disadvantage because of their gender, be proud of who you are as a woman and as a valuable employee. Women are advancing into leadership roles, managerial positions, and business owners, yet are not always compensated equally. There is a noticeably large number of industries that haven’t fully stepped up to the times we live in. Be one of the women who help to make a lasting impression on the future of the world marketplace. Don’t shy away from the opportunity to offer your opinion on business matters. Speak up if you are overlooked for a promotion, and be bold enough to comment on your wages if you notice a discrepancy. You have the same level of importance as the men in the field, and you make a world of difference for the company the same as they do.
 
Show your supervisor that you have potential for more responsibility by setting a high standard for the rest of the team. Arrive to the job early and ready to hit the ground running. Consider how you can accomplish more than what was asked of you. Once your assignments are finished, offer to assist your co-workers with theirs. Build relationships with your teammates out of genuine interest in your future with them and the company.
 
Sure, there are going to be discouraging days, but remember: you are not your mistakes.

You will make a few errors along the way, but that is to be expected. Mistakes are often the best way to learn. If you handle them with grace, you might even be surprised by how well your positive attitude will impress your boss. Rather than hang your head and apologize, own up to it and ask how you could have done things differently and what skillsets you need to work on in order to be adequately prepared for future opportunities. Count your mishaps as a blessing in disguise and move forward.
 
Silence your giants, move your mountains, and shatter those glass ceilings. You are your very own success story waiting to happen. Be bold and take charge of your dream career. It’s time to take charge.
 
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What Would Oprah Say?

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 By Nicki Gilmour, Executive Coach and Organizational PsychologistNicki Gilmour

Advice giving is a tricky business and when I thought up the title of this week’s column, I actually googled the sentence “What would Oprah say?” to find out she is the modern day Plato. No one can argue with her words of wisdom as she is a mentor to us all in that respect and a glass breaker in so many ways. I watched her as a girl from my TV screen in Northern Ireland not knowing that my own destiny would bring me to the USA to help people be their best selves.

My point? As useful as anyone’s advice is in this life, what matters is how you use it and integrate it. To do this, it’s key to know yourself and the constructs that you have built over time. What beliefs do you hold? How does that affect how you to take on new beliefs? Do those new ones confirm old biases or transform you? How can you check for validity in a meta-universal way so you can escape subjectivity of just adding to the pile of assumptions that may or may not be true? What beliefs are so implicit that they are hidden to you, yet create competing agendas to your espoused goals?

Oprah can tell you to go higher, Sheryl can tell you to lean in and all of that has truth in it. It’s good advice, but its just advice. Only you can dig deep into your own paradigms and figure out what you believe in and why you do what you do.

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You Should Reconsider What You Think About Creative People in Leadership

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Though “creativity” is almost always included on lists of mandatory qualities of good leaders, creative people or “creatives” are rarely seen as the leader type.Group-Of-Women-Meeting-In-Creative-Office

Instead, creatives are revered for their originality, their resourcefulness, and their spirit. But to be successful, creatives need to be perceived as more proactive, risk-taking, problem-solving, and communicative which are the perceived traits assigned to leaders.

Why Creative Types Aren’t Often Leaders

In a study from the University of Pennsylvania’s Wharton School, researchers asked workers and students rate their peers’ potential for creativity and leadership. Neither group rated the most creative people among the most likely to become leaders.

Yet, the most popular stories of leadership focus on those with ingenuity. We love to hear tales of CEOs and politicians who solve problems not with determined effort or underhanded maneuvering but rather with imagination and resourcefulness. There are few people more inspirational than those with innovative ideas who change the course of an entire industry. Why do we collect stories of creative leaders while ruing the idea of being led by them?

The researchers of the Wharton study, psychologists Jennifer Mueller, Jack Goncalo, and Dishan Kamdar, have discovered that leaders are often expected to uphold structure and order within an organization, while creative types tend to think laterally, outside typical paths and boundaries. Additionally, creatives are often depicted as isolated or at least introverted, but leaders necessarily must be comfortable with near-constant interactions. Further research refutes these suppositions. Most notably, a Wharton study by Adam Grant discovered that introverted leaders outperform extroverted ones, disproving the conception that a leader must be gregarious to be productive.

In another study led by Jennifer Mueller, participants consciously argued for the power of creative ideas, asserting that they want more creativity in leadership, but subconsciously, those same participants rejected more creative concepts when exposed to uncertain situations. It seems that we are primed to deny creative leadership, even despite evidence of its potential.

How Creatives Use Leadership Skills

Creative people and leaders share some traits and behaviors in common:

  • Leaders and creatives communicate well. Creative types imagine original concepts and they must be able to explain their ideas clearly and effectively.
  • Leaders and creatives are enterprising and dynamic. Creatives must often pursue their ideas on their own, forcing them to become self-motivated and driven.
  • Leaders and creatives solve problems. No novel idea emerges fully formed from a creative’s mind. Instead, creatives must tinker with their designs before they are viable.
  • Leaders and creatives take risks. Coming up with something new is inherently riskier than following the old way. Creatives must be willing to make leaps of faith, or else they fail to earn the label “creative.”

Given that creatives innately boast the most important qualities of leaders, it seems obvious that creatives would be good in leadership positions. The stereotype of creatives types is not the same stereotype of traditional leader types. This is just a stereotype but one that remains in place for now. One way to prepare oneself for business positions, regardless of one’s past work experience or identity as a creative person, is to continue to be creative while learning traditional business skills. By doing an MBA online, or in-person creatives can hone their leadership skills and gain new knowledge that is useful in guiding teams of workers. Even more importantly, advanced credentials almost guarantee management positions, ensuring creative types access to entry-level leadership roles. Just as the theory goes more women in leadership positions increases the likelihood of female-friendly workplaces, more creatives in leadership positions could help to build businesses that are friendly to creative thinking.

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

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5 steps to take ownership of your career

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happy working womenGuest Contributed by Jennifer Davis

I spend a lot of time speaking to early career professionals who are looking for advice or wanting to further their development. And one of the pieces of advice I find myself giving all the time is “Don’t ask permission”. But taking ownership of your own career path is easier said than done. Here are five steps you can take today to start making progress.

1. Write Your Future Resume

What do you see yourself doing in the future? Write it down. I find it useful to write it in the format of a resume or a bio. Something that walks back through your experience from the fictional and aspirational future (written in present tense), backing all the way to the current job and role that you are in today. Write the final job first and then think about what experiences you might need to get that job and make that your second-to-the-last role. Repeat that until you have walked back through a progression of roles or companies that take you where you want to go. Don’t forget to add in education, training, non-profit involvement, or anything else that will be a part of your future, idealized career. There is something powerful about writing it down.

2. Invent Your Path

One of the things you will notice about your resume activity is that you might struggle naming some of the roles that you might want to have. Sometimes getting experience and being seen as ready for promotion isn’t a matter of title (marketing specialist leads to marketing manager leads to marketing director), but rather of actual job contents. And of course in the future, the contents of the job are going to be different. 30 years ago, who have thought we’d pay to take rides with strangers or spend a significant part of our marketing budget on pay-per-click advertising? So, you have an opportunity to invent a job or two along the way. Take advantage of the blank sheet of paper to design a job or role that would give you that experience. And remember, some of that experience might come from volunteer work or even entrepreneurial efforts. Don’t limit yourself. You are writing fiction, so make it worthy of a New York Times best seller award.

3. Research and Network

Look at that fictional resume you wrote for your future self. What questions arose when writing it? Did you wonder what people had done before they became a Chief Marketing Officer? Did you invent a position, but now you wonder if that role exists in some companies today? Are you curious how much education a financial analyst needs to work on a big merger and acquisition agreement? These things are knowable and worth researching. Look up people on LinkedIn in the roles to which you aspire and look at their career progression. Contact people in your network who might know the answers or have ideas of where to look. They could be people that work at your company (check out the leadership page on your company website, if you don’t know people outside your own team or group), or people in the community at large. When asked for their expertise, most people will be generous.

4. Tell Someone

Just like there is power in writing something down, it is amplified in the sharing. This is why sites like BucketList.org exist. They figure you are more likely to do things, even crazy things like climbing mountains or learning Mandarin, if you share your dreams with others. Find people who will be supportive and share some of your ideas with them. If you don’t have people in your immediate circle of friends and family who are likely to empathize, find a group, like HeartSpark, or a professional coach to help you listen and refine your ideas. Or join a networking group, like BizWomen or your local rotary to find a group of like-minded folks to help you grow.

5. Believe

At the heart of all of this is believing in your potential and what you have to offer a potential employer or entrepreneurial opportunity. I’m a big believer in positive affirmations and visualization. By affirming yourself and visualizing where you will go, you breathe belief into yourself. This starts the wheels of destiny in motion. Believe that your career is something you get to build.

So let your imagination run wild and see where it takes you. Be deliberate and bold. Don’t settle for the next rung on your chain of jobs or tasks. Take ownership of your professional story. It can be refined by experiences and reshaped when you want it to be. It may have imperfections, but at the end it will be yours.

Jennifer Davis is CMO and VP of Product Strategy at Planar, a Leyard Company

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Op-Ed: How Seed Crowdfunding is Unleashing Female Entrepreneurial Potential

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Guest contributed by Aoife FloodAoife Flood Crowdfunding

I recently had the privilege of being part of an exciting PwC research project undertaken in collaboration with The Crowdfunding Centre culminating in the release of our Women Unbound: Unleashing female entrepreneurial potential report.

The report explores the experience of women in achieving finance raising success through seed crowdfunding compared with more traditional finance raising routes and brings to the fore a lot of powerful and scary insights and opportunities. For example, while challenges like the gender leadership gap and the gender pay gap receive widespread media attention, the barriers that female-led businesses and entrepreneurs face in accessing finance have been much less visibly reported. For me personally being part of this research process was certainly somewhat of a rude awakening.

The fact is most decision makers in the venture capital industry are male, and research shows that male entrepreneurs are 86% more likely to be venture capital funded than their female counterparts, and 59% more likely to secure angel investment. Meanwhile, a $300 billion financing gap exists globally for formal, women-owned small businesses, and 70% of women-owned small and medium sized enterprises have inadequate or no access to financial services.

One thing is clear, female entrepreneurs receive less than male entrepreneurs through traditional funding channels and this funding gap is a missed opportunity. Investing in or supporting women-led business has the potential to deliver some of the highest-returns – for investors and societies. Take for example the UK, if they could match US levels of female entrepreneurship they could potentially add £23 billion gross value add to their economy.

What the data in this Women unbound report shows clearly is that when women choose to access crowdfunding they are more than capable – and very often more capable than men. Thanks to crowdfunding, female entrepreneurs can now access the market directly – and this makes a huge difference because when they do, female crowdfunders are 32% more successful than their male counterparts.

The report analysed data from over 450,000 seed crowdfunding campaigns, from nine of the largest crowdfunding platforms globally over a two year period.

What the analysis told us is that men clearly crowdfund more than women, 72% of crowdfunders globally were male compared with 28% who were women. Yet, globally, women are more successful at crowdfunding than men: 22% of campaigns led by a women reached their target, compared to 17% of those led by men. And this is not a collective anomaly, women-led campaigns performed better (in terms of securing their funding goals) than campaigns led by men when we segregated the data for every sector and every territory.

Even in what are considered more masculine sectors, for example technology where just one in every ten crowdfunders is female, 13% of women were successful in achieving their funding goal compared to just 10% of men.

So despite their clear underrepresentation, women are more successful at crowdfunding than men. But why is this?

The main factor seems to be because crowdfunding attracts, enables and empowers far more female decision makers as project backers. In essence, just like the dominance of male representation in traditional financing channels can create barriers for women, the more gender-level playing field of the crowd provides one explanation for why women are more likely to succeed at crowdfunding than men.

Female crowdfunders also tend to use more emotional and inclusive language in their videos and pitch descriptions than men.  This language is more appealing both to female and to male backers and positively correlated to funding success. While the use of business language, the style typically favoured by male crowdfunders, has been shown to be negatively correlated with money raised irrespective of what product or service is being pitched.

Yet, while women are outperforming men in achieving their funding targets across the board, the fact remains that significantly more men are crowdfunding than women, and as result, men raise substantially more finance via this channel. Men are also more ambitious in establishing higher funding goals than their female counterparts and we see them dominate in the highest funded campaigns by sector.

In fact, while there were 63 campaigns that raised over $1 million, only seven of these were led by women (11%), with the most funded campaign created by a woman placing number 18 on the list. However, progress is being made, 2014 data illustrates that only 7% of campaigns raising over $1million were led by women, and the most funded campaign created by a woman placed 37 on the list. On another positive note, on average female-led campaigns receive 5% more per individual pledge globally than male-led campaigns.

Despite this, significant opportunity still remains for women to become more active and represented in crowdfunding and to be more ambitious when establishing their finance raising goals.

I truly hope that the success of female crowdfunders highlighted in this report inspires and motivates more budding and established female entrepreneurs to explore crowdfunding.

Overall, the findings of our Women unbound report pose a strong challenge to existing entrepreneurial and business norms by seriously questioning whether there are deep-rooted biases that are preventing greater access to funding  by female entrepreneurs. It is extremely positive to see that the growth and global reach of seed crowdfunding presents several major opportunities, each with the potential for major social and economic impact. Including the understanding and acceptance that seed crowdfunding is now a well-established environment through which women can thrive.

Learn more about these opportunities by reading our Women unbound report or visit our data explorer to check out the geographical and sector crowdfunding trends for yourself

Contributed by Aoife Flood. Based in Dublin, Ireland, Aoife is Senior Manager of the Global Diversity and Inclusion Programme Office at PricewaterhouseCoopers International Limited. A version of this op-ed was originally published in PwC’s Gender Agenda Blog. 

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Personal Branding Strategy: Why Strong Careers Begin Here

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Guest contributed by LIz Harr, Partner, Hinge

brand

Image via Shutterstock

You know them. Executives who secure all the media mentions, deliver keynotes at top conferences and attract the best clients. Interestingly, most of these experts aren’t much different from the rest of us. In fact, many of them admit that they aren’t the smartest or most knowledgeable people in their fields. They weren’t born writers. They weren’t born orators.

Instead, they climbed to success by developing personal branding strategy with a very specific set of tools, trying and discarding a host of techniques along the way. My firm has produced some powerful research around what helped these individuals reach their respective levels of success and I’d like to share with you what really works – and what doesn’t – so you don’t have to endure the experimentation others have had to.

What Is a Personal Branding Strategy?

At the heart of their success is a strategy. A personal branding strategy. This is essentially a plan to take your reputation and career from relative obscurity to high visibility. It describes where you stand today and what level of visibility you want to achieve in the future. It lays out the tactics, tools and skills you will need to attain your goal, including the daily content calendar you will follow.

The Five Levels of Visibility

In our research on how personal brands can catapult a professional to higher levels of visibility – and career success – we identified five progressively more visible levels of expertise:

Level 1: Resident Experts. These experts are well respected within their firms and by their clients, but they have little visibility outside of those audiences. Most Visible Experts start their journey here.

Level 2: Local Heroes. These individuals are beginning to become known outside of their firms. They are more active in their local business communities, often speaking at business functions and blogging. They may even bring a little new business to their firm.

Level 3: Rising Stars. These experts have developed a regional reputation. They are fairly well known among peers in their area, and they speak and write frequently on their area of expertise. Rising Stars tend to bring in higher-quality business and higher fees.

Level 4: Industry Rock Stars. These names are well known across the nation for their niche areas of expertise. They attract premium clients and fees. As a result, they become significant assets to their firms.

Level 5: Global Superstars. The world’s elite experts, Global Superstars have broken out of their niches and household names. They command the highest fees, and firms around the world want to be associated with them.

Your first job is to figure out which of these levels describes you today. Then you need to decide what level of expertise you would like to achieve. 

 

 The Benefits of a Strong Personal Brand

As you’ll see in a moment when I go over specific tools for building a strong personal brand, it’s not for the faint of heart. But there are some very tangible benefits that these experts have realized. For starters, their earnings are higher. The chart below shows the relative billing rates for each Visible Expert level.

Figure 1. Relative Hourly Rates Buyers Will Pay, By Visible Expert Level

  

Our research showed that buyers are willing to pay over 13 times more for a Global Superstar than an average professional. But even Level 1 experts hold a significant advantage over their undistinguished brethren.

The reason? Buyers are willing to pay a premium for the confidence that a Visible Expert will solve their problem more quickly and with greater precision. Higher billing rates aren’t the only benefit. Here are a few others:

  • Highly visible experts attract more media attention. When a reporter needs an authoritative quote, they reach out to the experts most closely associated with the issue at hand.
  • Well-branded experts also are able to secure valuable partnerships more easily, and with more desirable organizations.
  • They attract better quality clients. In some cases, clients will seek out an expert — cutting out the competitive proposal process entirely.
  • Experts with strong personal brands also benefit their firms. Their strong reputation often spills over to the organization she works for, which in turn can have a very real effects on a firm’s brand and business development prospects. According to our research, about two-thirds of Visible Experts on average have this remarkable effect on their firms.

The 7 Critical Tools for Personal Branding

One of the most important things we learned from our research was which marketing tools have the greatest impact on an individual’s personal brand. Here are the top tools from our study, rated on a 1 (least impactful) to 10 (most impactful) scale:

Figure 2. Total Impact of Tools

I recommend you prioritize around these seven as you build your personal brand:

  1. A book. Whether you do it yourself or enlist a ghostwriter, you will need to produce a book that addresses your area of expertise. A book is a critical credibility builder and can be traditionally published or self-published. A book can be a heavy lift, so don’t feel like you have to tackle it right away.
  2. Speaking engagements. Public speaking is an important platform for building your reputation and personal brand. Audiences are predisposed to trusting anyone who stands at a podium, so just getting there is half the battle.
  3. A website. If you are part of a firm, you’ll want to focus at first on your bio page. It should present sufficient credentials to convince people that you really know your stuff.
  4. A blog platform. Every expert should be blogging. It’s the most accessible way to demonstrate your expertise. It’s also one of the easiest ways to start building a loyal following.
  5. Email marketing service. Email marketing is how you turn people into loyal followers — even raving fans. Using offers to download valuable educational (never promotional) content such as guides and whitepapers, you can entice a certain percentage of your blog readers to opt into your mailing list.
  6. Search engine optimization (SEO). SEO is the tool that connects you to the people who are intensely interested in the problems you solve. And you would never meet 99% of them without it.
  7. A media kit. Experts get requests for bios, credentials and photos all the time. So it makes sense to have those things ready to go at a moment’s notice. Even better, put them up on your website bio page where interested parties can find them without asking.

This list, of course, just scratches the surface. There are dozens of tools that you can use to engage your audience. Webinars can be used as a different take on public speaking for example.

One last tip. Our research showed a clear correlation between specialized expertise and length of time it takes to groom yourself as a visible expert. Specialization eliminates the clutter like nothing else, and allows you to forge ahead without the noise that generalized knowledge brings to the table.

Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com

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Why One Type of Advice Doesn’t Fit All

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By Nicki Gilmour, Executive Coach and Organizational PsychologistNicki-Gilmour-bio

When I am writing this column I go through a range of emotions due to the fact that any article giving advice is just an opinion. It is easy to be opinionated, to live in the dogma of the binary of this way or that way, but it’s often not that useful for the person on the receiving end.

The best that I can do is base the advice on a combination of expertise, research and intuition. However, I do not know you personally, I do not know what your specific situation is that you need advice around. I also do not know the environment you are operating in, nor the developmental frames or mental models that you have accumulated through your own interpretation of your experiences during your life until this day. I do not know your reactions to bad bosses, stress,  wins, systemic gender issues . My point is, this is the internal diversity that matters to you in your career advancement, the cognitive and emotional differences and capacities that every human has, not the just the social identity version of diversity that is touted in companies which way too often feels like Noah collecting animals for his Ark.

We are all a product of our ability to self-reflect on our conscious thoughts and actions. The unconscious beliefs we all hold are harder to access as they are unknown to us but often hold in place competing agendas that stop us from achieving our goals via behaviors that are not aligned with goal attainment. I have mentioned Robert Kegan and Lisa Lahey’s book Immunity to Change a couple of times in this column. They don’t know who I am, this is one of the few books I wax lyrical about, but I can honestly tell you their work is a must read for anyone who is wondering how to really get to why some of those goals and resolutions around career, fitness, family are still outstanding. I just wrote a paper integrating their work with the Columbia Coaching Program Process, as it is my firm belief that unless you access the murky unconscious of how you construct your big assumptions, and say them out loud to yourself to check for validity, your self-efficacy around goal setting for you as an executive can’t be totally effective- even if you are the most motivated person on the planet.

So, this week instead of telling you to do this strategy or that strategy, I am going to ask you to think, pre-holidays, about what you want to achieve in the next 12 months and then to look long and hard at what you are currently doing to reach those goals. Not the should or ought to do but what you are doing or not doing. Then ask yourself whats really going on? What is your competing agenda hidden in all of this?

We have 20 places left for individuals for our next round of individual coaching starting in November.

We also have a group coaching starting in December- join a cohort of peers.

Get in touch! Nicki@theglasshammer.com or book an exploratory call here to learn more about what we are doing and how much it costs.

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