Listening Is Getting Harder, but It’s Necessary for Leaders

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women in technologyEvolving digital technology demands more communication and accessibility from all employees, which leads to a culture of multi-tasking. But as leaders face increased communication demands, it’s important that they retain the value of listening.

Listening is Getting More Difficult

Active listening has been identified as one of the ten attributes of embodied leadership. Effective listening by leaders has been noted as the first step in creating trust within organizations. Also research shows that supervisor listening contributes to employee job satisfaction, satisfaction with the supervisor, and fosters a strong and beneficial exchange between leaders and team members.

Yet according to Accenture’s #ListenLearnLead study of 3,600 business professionals across 30 countries, the vast majority of professionals (64%) feel that listening has become more difficult in today’s workplace.

While nearly all (96%) of global professionals judged themselves to be “good listeners”, nearly all (98%) also report multi-tasking at least part of the day.

The study found that eight in ten respondents said they multi-task on conference calls with work emails (66%), instant messaging (35%), personal emails (34%), social media (22%) and reading news and entertainment (21%). In fact, professionals report distracted listening and divided attention unless they are held directly and visibly responsible within the context of the meeting.

“Digital is changing everything, including the ways in which we communicate. In turn, the way we communicate is changing how we listen, learn and lead in the workplace,” says Nellie Berroro, Managing Director, Global Inclusion & Diversity at Accenture. “Today, truly listening means not just watching our nonverbal cues in face-to-face meetings, but also maintaining our focus on conference calls, staying present, and resisting the urge to multi-task with instant messages and texts.”

Multi-Tasking Means More Quantity, But Less Quality

The attraction to multi-tasking seems to be a double-edged sword in the workplace that pins quantity against quality.

In Accenture’s study, 64% of Millennials, 54% of Gen Xers, and 49% of Baby Boomers reported multi-tasking during at least half of their work day. While 66% of professionals agreed multi-tasking enables them to get more done at work, 36% report that distractions prevent them from doing their best work. Millennials were at the extreme on each – feeling multi-tasking meant getting more done (73%) and yet distractions prevented them from doing their best work (41%).

However it’s traditional interruptions imposed by others (telephone calls & unscheduled meetings & visitors) rather than technology that were reported as most disruptive, perhaps due to the lack of control over these distractions.

What suffers? The trade-offs reported include decreased focus, lower-quality work, and diminished team relationships. But can leaders afford these trade-offs, too?

Despite the Benefits, Are Leaders Too Accessible?

“Our survey found technology both helps and hinders effective leadership,” says Borrero. On the positive side, 58% of survey respondents saw technology as a benefit for leaders enabling them to communicate quickly with their teams, allowing both time and geographic flexibility (47%) as well as accessibility (46%).

However, 62% of women and 54% of men felt technology made leaders over-stretched by being too accessible. 50% of respondents felt it forced multi-tasking and 40% felt it distracted from culture and relationship building. 55% felt a top challenge for leaders is information overload.

Borrero recommends practicing discipline when needed in disengaging from other technologies to give full focus to the material in front of you, such as putting your mobile device on silent during phone conferences and actively noting key points. “When you face information overload,” she says, “become comfortable with turning off technology. For example, you might disconnect at night, so you can recharge, and decide not to look at your phone until the morning.”

Importantly, when it comes to effective leadership and overcoming barriers to it, focusing on quality of communication and connection matters most – and that may very well start with listening.

The most important leadership attributes identified by the study were the “soft skills” of effective communication (55%), ability to manage change (47%), and ability to inspire others and ideas (45%), closely followed by understanding team members.

Yet this is also where skills suffer: the two most commonly perceived obstacles to effective team leadership were a lack of interpersonal skills (50%) and a lack of communication skills (44%).

Getting Better At Listening

While digital technology brings many advantages, leaders who compromise at listening may compromise their ability to lead effectively.

A Westminster Business School report highlights, “Listening is an essential skill in all situations and it is particularly important for leaders and managers to actually hear what others say, not simply what we think we hear them say…All great leadership starts with listening. That means listening with an open mind, heart and will. It means listening to what is being said as well as what isn’t being said.”

Despite its importance to leadership, leaders are too often ineffective at truly listening according to an HBR article by Christine M. Riordan. She notes, “The ability and willingness to listen with empathy is often what sets a leader apart.”

Riordan outlines three key behaviors leaders can practice that are linked with empathetic listening:

1) Hearing with all of your senses and acknowledging what you’ve heard.

This means “recognizing all verbal and nonverbal cues, including tone, facial expressions, and other body language.” It’s as much about listening to what is not said as what is said, and probing a bit deeper, as well as acknowledging others feelings or viewpoints and the act of sharing them.

2) Processing what is being shared and heard.

This means “understanding the meaning of the messages and keeping track of the (key) points of the conversation.” Effective leaders are able to capture and remember global themes, key messages, and points of agreement and disagreement.

3) Responding to and encouraging communication.

This means “assuring others that listening has occurred and encouraging communication to continue.” Acknowledging others verbally or non-verbally, asking clarifying questions, or paraphrasing reflects consideration of their input. This can also mean following-up to ensure others know listening has occurred.

According to Accenture’s Borrero, “Leaders are role models employees emulate, so it’s important for them to set a good example. In our increasingly hyper-connected digital workplace, we all need to practice ‘active listening,’ including paraphrasing, taking notes and asking questions. At Accenture, we offer a number of courses in effective listening, which is critical to our company as we focus on serving clients.”

In today’s leadership context, where effective leadership means showing social awareness not just self-awareness, leaders may employ technology to help them do it, but one way or another, it’s important they find a way to truly listen.

By Aimee Hansen

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The Way You’re Coping With Stress Is Making It Worse: What You Should Do Instead to Build Your Resiliency

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women stressedOn a typical day, you’re most likely squeezing in three days worth of work. You have your scheduled work time consisting of meetings, servicing clients and customers, managing communications, and connecting with colleagues scattered around the globe. Your second workday consists of the one before, after and in-between. You get up early to get a jump on emails, you stay late to get work done, and you multitask during the day in an attempt to be as productive as possible. Your third workday begins when you leave the office. You have to pick up food for dinner on the way home, perhaps get the kids to practice, run a load of laundry and make sure the house hasn’t fallen apart. Before you go to bed you see the opportunity to get on your computer to get more work done. No wonder you’re completely stressed and exhausted by the end of the day!

You just need to find better ways to reduce or manage your stress, right? Wrong. Unfortunately, there’s no way to reduce your stress. Your job is never going to ask less of you, nor are your loved ones. The demands in your life will only continue to increase as you move up in your career and your personal life becomes more complex. In addition, stress is not just something that happens in your head. It’s a chemical, hormonal event that radically changes your chemistry and physiology.

The hormones released in response to stress can have many negative effects on your body and brain. As just one example, the stress hormone cortisol kills cells in the brain relating to memory, learning and goal setting. It’s responsible for insomnia. It makes you crave high-fat, high-sugar foods in large amounts, and to store a majority of it as fat, specifically around the midsection.

But the good news is, when we understand the physiology of the stress response, we can build our resiliency to stress. We can train our bodies to recover from stress more quickly and efficiently, as well as raise our threshold for stress. And if that’s not enough, resiliency training can also improve our health and help us lose body fat.

Up until now, many of the things you’re doing to cope with the stresses you’re facing are actually making things worse. You may skip meals and workouts, sacrifice sleep to get more work done, grab sweets or salty snacks, rev yourself up with caffeine and bring yourself down with alcohol. Here are four things you may be doing that are exacerbating your stress, along with tips to build your resiliency:

1. You sacrifice sleep to get things done.

It’s tempting to trade sleep for extra hours of productivity, but lack of sleep ramps up our sympathetic nervous system, pushing us in the direction of the stress response. Simultaneously, it makes the parasympathetic nervous system – which is related to restoring balance and calm — less effective. Sleep deprivation also increases body fat levels, specifically around the midsection. This abdominal fat is not only frustrating, it also increases our risk of diabetes, heart disease, obesity, and even premature death. Keep to a regular sleep and wake cycle, and aim to get between 7-9 hours each night. Sleep is one of the best tools we have for the body to recover from stress.

2. You drink caffeine to get energy and make up for lack of sleep.

In addition to increasing blood pressure, caffeine stimulates the release of the stress hormones adrenaline and cortisol. To make matters worse, caffeine has been shown to work synergistically with mental stress to further increase cortisol levels. From a stress perspective, cutting out caffeine is ideal. Why voluntarily pump more stress hormones into your body? If you choose to consume caffeine, do so in small amounts.

3. You skip meals because you’re too busy to eat.

When we skip meals or go too long without eating, blood glucose (a form of sugar the body uses for energy from many of the foods we eat) drops. When there’s not enough glucose, the body thinks a famine is occurring, the stress response is stimulated and the body secretes cortisol. This puts us into food seeking mode to get much needed energy into the body. Cortisol makes us eat large amounts of food containing fat and sugar, and to store much of this extra energy away in our fat cells for the next glucose emergency. Maintain blood glucose levels and minimize stress by eating about every 3 hours, alternating between moderate sized meals and small snacks.

4. You skip your workout because you don’t have time.

Stress hormones are specifically designed to fuel a short burst of intense physical activity – fighting or fleeing. When we do this, it burns them off and releases another class of hormones that restore balance and counteract the negative consequences of stress. The good news is just 30-60 seconds of intense exercise produces these feel good hormones. Sprint up a flight of stairs, or do a few jumping jacks or burpees. Worst-case scenario, do a few of these shorts bursts to hit the reset button on stress, or squeeze in a few minutes here and there. Exercise can be accumulated throughout the day in 10-minute bouts, which can be just as effective for improving fitness and decreasing body fat as exercising for 30 minutes straight.

For more strategies on how to build your resiliency to stress, read Jenny’s book The Resiliency rEvolution: Your Stress Solution for Life, 60 Seconds at a Time.

Jenny C. Evans is the author of THE RESILIENCY rEVOLUTION: Your Stress Solution For Life 60 Seconds at a Time (Wise Ink Creative Publishing; 2014). She is also founder and CEO of PowerHouse Performance, where she works with thousands of C-suite executives, leaders, and employees worldwide to help them improve their resilience, performance and productivity, while enhancing their health.

Guest advice and opinions are not necessarily those of theglasshammer.com

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Being Connected on Wall Street Reaps Big Career Benefits, If You’re a Man

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women in technologyIf you’re a female analyst on Wall Street, you’re probably achieving lower returns on your social connections than your male peers. Because who you know matters when it comes to firms you handle, but it matters way more if you’re a man.

A new working paper by Lily Fang, an associate professor of finance at INSEAD, and Sterling Haung, a PhD candidate at the school, focuses on the links between gender, connections, and career outcomes among 1,815 Wall Street analysts and their work across 8,242 firms between 1993 and 2009. Analyst-firm connections (41,000) were defined as alumni-ties with one or two senior officers or board members within the firms that the analysts cover.

Women and Men are Equally Connected

Previous research had found that “connected” financial analysts, who went to the same university as senior officer of the firms they covered, significantly outperformed in their stock recommendations and more effectively in their jobs compared to analysts without connections. Fang & Haung wondered if the impact on job performance and career trajectory differed between men and women.

The great news is they found no gender difference in how well-connected analysts are – both men and women have a connection in about 25% of the firms they cover. The bad news is they found a “big difference in how much these connections help male and female analysts in their jobs.” According to Fang in her INSEAD article, “men overall reap more benefits from connections than women both in terms of job performance and in terms of subjective evaluation by others.”

How Connections Impact On Job Performance

The study measured how analyst connections impacted upon “objective” and “subjective” performance and career outcomes: accuracy of their earnings (EPS) forecasts; price impact of their buy/sell stock recommendations; and being elected to the All-American Research Team (AA) as a “star analyst”.

The researchers found that connections led to a much stronger impact on forecast accuracy, for men. Fang notes that “while connections lead to a 2 percent improvement in accuracy rankings in general, among men, there is a further improvement of about 1.8 percent.” Put more bluntly in the report, “the connection effect is present only among men but not women.”

For women, connections to a female executive in firms they handled led to a slightly higher improvement in forecast accuracy (2.5%), but not nearly as much as male-male connections (4.7%). As Fang puts it, “Thus the value of the ‘old boys club’ is hard to refute in our data.”

Fang writes that among analysts, “The effect of connections is even greater in their stock recommendation impact or how the market reacts to their buy and sell calls. Connections improve male analysts’ recommendation impact by about 1.2 percent, but not at all for female analysts.”

Fang notes that the differing impact on job performance was strongest among young analysts, setting women back way before they approach the glass ceiling. “This vastly different ability to capitalise on connections at such an early point in their career paths could explain gender gaps that exist throughout long-term career trajectories. The cycle, it seems, starts at the entry level.”

How Connections Impact on “Star Analyst” Status

The third measure was more subjective, promotion as a “star analyst” through an opinion poll, an evaluation by thousands of institutional investors, organized by Institutional Investor – a title given to less than 8% of analysts, which impacts significantly upon career profile and salary earnings (up to 3-fold). Much of the top evaluation criteria is highly subjective such as industry knowledge, communication, responsiveness and written reports.

The researchers found connections directly contributed to male analysts’ odds of being elected an AA but had zero impact for female analysts. Importantly, there’s no gender inequality in numbers promoted to all star status: “In general, [women make up] 12% of the overall [analyst] population, but they are 14% of the star analysts so it’s not like people are not awarding women,” says Fang in Fast Company, “but the factors for them to be selected are very different than men.”

For women, those impacting factors appear to be Ivy League education (35% of women in the total sample had one compared to 25% of men) and a record of forecasting accuracy – neither of which is significant in determining whether men are elected to being a star, or promoted within it.

According to the researchers, “The results reveal that investors value analysts of different genders differently: While connection is valued by investors and affects positive career outcomes for men, for women, it is measurable achievements and competence that seem to play a larger role.”

An Insidious Gender Bias

The researchers offer two potential interpretations of their findings. One is that “men are evaluated on ‘potential’ while women are evaluated on ‘performance.’” The other is that women benefit less from connections than men because they’re still seen as “outsiders” by investors whereas men are seen as “insiders/one of our own.” Both are plausible. Neither are pleasing.

As Fang says in Fast Company, “The type of gender bias that we document, I think is more subtle, but perhaps even more insidious than the simple numbers game. We’re not finding women are under-represented. We’re finding that they’re evaluated in different ways. How do you change people’s subjective interpretation? That’s a much more difficult [issue], I think. It probably has more to do with social norms and the ways people see things.”

Fang also points out in her INSEAD article, “It is telling that while 14 percent of Wall Street all-stars are women, virtually none of the top bosses in any of the big firms are. It could be argued that even the most competent women remain in analytical roles rather than being promoted into general management because that kind of promotion entails subjective evaluations by others.”

Mentorship & Sponsorship Still Matter!

Senior Associate Editor Sarah Green at the Harvard Business Review, uses Fang & Haung’s research as a springboard into “Why ‘Network More’ is Bad Advice for Women”e, noting that “we need to stop telling women to follow a male playbook.”

She’s got a point on the playbook. But using Fang & Huang’s findings to also question the value of mentorship and sponsorship in a woman’s career advancement is dangerous. Connections with top executives in other companies who went to the same university isn’t a parallel to the support that well-formed mentorships with strong chemistry or sponsorships can provide for a woman navigating her career.

Should a proven track record be more important for the career advancement of male analysts than female analysts? Absolutely not.

But if it is, isn’t it better if you’ve got somebody in your corner – whose attention you’ve earned through your achievements and abilities – helping you wave your impressive track record around when the next career opportunity presents itself?

By Aimee Hansen

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Values-Based Leadership: How It Can Improve Your Effectiveness

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Values-Based LeadershipAs a leader, do the values of your organization speak through your actions?

A recent article in The Journal of Values-Based Leadership reminds us that Steve Jobs said, “The only thing that works is management by values.” It’s no surprise that companies like Apple who foster a values-based approach in their leadership culture create connections that have a significant impact on company performance.

Your ability to focus on and motivate through core organizational values can have an impact on your effectiveness as a leader, too.

HOW FOCUSING ON ORGANIZATIONAL VALUES HELPS YOU AS A LEADER

Raises you to a leadership perspective

The Financial Times defines value-based leadership as “Motivating employees by connecting organizational goals to employees’ personal values.”

A Harvard Business School paper asserted that when leaders focus on the technical or administrative side of their work, they become too fixed on short term returns. The paper stated, “If leaders instead sought to uphold values and maintain integrity, they could establish the long-term perspective and commitment to innovation necessary for sustaining their competitive position in an increasingly global economy.”

Effective leaders keep focused on the visions and values of the organization as a compass for action. Indeed, having women in the boardroom has helped at aligning corporate action to company values. International research has shown that “the positive impact of women on the board on financial performance, and on ethical and social compliance, indirectly affects firm value.”

Also, keeping your eye set on organizational values, and above the daily tasks, may help you from getting too drawn into office housework that can be peripheral to your leadership goals.

Increases bonding with you as a leader

Building relationships with those who work with you is important, but when they’re built through a common bond around organizational values, it strengthens your position as a leader.

The ability to compellingly communication organizational values is a key attribute of leadership success. Communication research shows that optimized messages can garner a “shared sense of purpose, which is achieved when multiple employees possess the same understanding of the purpose of the work.” In particular, the combination of “a large amount of vision imagery with a small number of values” increases performance by creating a shared sense of organizational goals and coordination towards them.

Effective leaders also create a motivational sense of belonging. Leadership research shows that people feel more bonded to a leader with which they feel a “shared social identity” that is representative of their in-group. Leaders who effectively convert organizational values to a shared identity would seem able to create deeper commitment from those they manage.

In fact, values coach & author Joe Tye asserts that values-based leadership can create a culture of ownership rather than a culture of accountability, which he asserts relates to motivation, productivity, and retention.

Affirms your leadership integrity

Values are meaningless unless put into action, and the standard for integrity within an organization is set by its leaders.

Speaking to values-based leadership, Mark Fernandes, Chief Leadership Officer at Luck Companies, says “In order for these values to be authentic within the organization, it’s imperative that the leaders be fully committed to demonstrating the values in everything they do. There’s a level of inauthenticity that associates will notice and it can erode their trust in the leadership if they’re not actively seeing the behaviors exhibited in the actions and words of their leaders.”

The HBS paper asserted that by embodying the values they espouse, leaders enable employees to find meaning and value in their own work: “Members’ interactions with the organization and their actions on its behalf are not just transactional but are imbued with meaning. As members internalize the organization’s purpose, to the extent that their own actions further this purpose, they come to regard these actions as meaningful. They further view themselves as part of a valued community. They are motivated to exert effort on behalf of that community, to defend it when threatened, and to advocate on its behalf.”

Being able to connect individuals to the values of your organization is especially important when it comes to motivating Gen Y. Research has shown that for Millenials, job fulfilment hinges partially on believing in the vision and strategic direction their organization is pursuing in the world and feeling personally connected to it.

If leaders don’t uphold the values the company espouses, employees lose faith and begin to disengage. If they do, they inspire.

Ignites your potential and the potential of those around you

When your personal ambition is aligned with your company’s vision, you are more engaged, more productive and more able to reach your potential according to research. This is true not only for you, but for those you manage and motivate. When you feel corporate values are more closely aligned to your personal values, it creates intrinsic motivation.

Fernandes focuses on igniting the full potential in others, “Values-based leadership is defined by living, working and leading in alignment with your core values, principles, beliefs and purpose to, in turn, ignite the extraordinary potential in those around you.”

Values-based leadership has also been linked to creating a culture of creativity and innovation. The Journal of VBL article states, “When an individual has a personal and professional commitment to align personal values with those of the organization he or she works for, a powerful connection is created. This connection creates numerous possibilities for both individual growth and company productivity.” The article suggests that motivating a “work culture or atmosphere that sparks creativity” is increasingly a matter of customizing motivational strategies to align employee values with organizational values.

WALK THE WALK ON VALUES

So given how values-based leadership can positively impact your leadership potential, how do you begin to walk the walk? Perhaps the first question to ask yourself is what the organizational values really mean to you.

Conscious Manager recommends to, “Develop a personal understanding of your organization’s values. Think about what the company’s values really mean to you and to your unique leadership style. You need to know which of your behaviors demonstrate those values. If the business’ beliefs and principles don’t have meaning for you, you won’t be able to make them meaningful for anyone else.” Ultimately, it’s your actions, not your words that speak to how well you represent values – in being a role model, in teaching the values, and in recognizing them. “Bringing values to life is a behavioral issue.”

Embodying Values is one of five key behaviors of great leaders, says Author Ken Blanchard. He asserts, “Leaders must establish, articulate, and enforce the core values of their organization. More important, they must model the behaviors that support the values.”

He suggests leaders ask these four questions:

“How can I integrate our core organizational values into the way my team operates?”

“What are some ways I can communicate our values to my team over the next thirty days?”

“How can I create greater personal alignment with our values on a daily basis?”

“How can I recognize and reward people who actively embody the values?”

Inspiring leaders motivate us towards a common goal. Values-based may be less a type of leadership, and more a requirement of it.

By Aimee Hansen

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About That Positive Mindset…

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istock_000013311579xsmallI’m sure you’ve heard of the power of positive thinking or the Law of Attraction by now.

But if you’ve somehow escaped the daytime talk shows, multitude of online articles, and your friends’ comments about the subject, the idea in a nutshell is that your thoughts determine your circumstances. In other words, you attract positive or negative situations into your life by the way you think about things. It’s along the same lines of these familiar adages: You reap what you sow. Be careful what you wish for because you may just get it. What goes around comes around.

Do you remember the craze around The Secret a few years back? What a load of nonsense. Did you really believe you could sit on the couch watching TV and simply think your way to a fabulous reality? I mean seriously, how could that advance your career? You and I know that only hard work and determination create long-term career success and opportunities.

While many career oriented women don’t dismiss the idea that our thoughts can affect outcomes, it’s sometimes hard to swallow that our present life is a direct result of our thoughts—especially if we are not yet where we want to be. Building a career takes time. But if our thoughts can contribute anything at all to our realities, then isn’t it worth paying close attention to what we tell ourselves?

If you own a business, you believe your products or services are needed. If you work for someone else, your employer is purchasing your contributions, ideas, and expertise. You don’t think twice whether you are needed as an employee because, like a business owner, you have something of value to offer.

The importance of a positive mindset comes into play when we consider the value of our skills or our products or services. Yet, it seems to be difficult for many of us to identify our own personal value proposition and talk with ease and confidence about the real dollar value associated with what we personally offer. Women especially struggle with determining their worth and communicating it clearly and fearlessly.

Why is it that verbalizing our value to others can be pure torture? Why is it so difficult to ask with confidence for that promotion/raise/hot job/ or the next big opportunity? Why don’t others simply see our worth and volunteer to compensate us accordingly?

While that would be great that’s not how business works. It is up to us to tell and sell.

Before I share with you my personal tips that propelled me from $135,000 in debt to becoming a multi-millionaire, here is something that may help you wrap your head around how thoughts affect outcomes. I find it fascinating how quantum physics relates to Law of Attraction and the power of positive thinking. It is all about how energy influences everything around us. Here’s a YouTube video that will shed some light on creating our perfect lives and attracting abundance. There was also a wonderful experiment where researchers focused energy into water then studies the crystalline structures of frozen droplets. They discovered good vibes created the most beautiful crystals and bad vibes created formless blobs. You can find the astonishing results here.

Now let’s translate that into our everyday world. Have you ever had a bad morning that snowballed into a bad day? From the bank teller who miscounted your withdrawal, to the grumpy grocery store clerk, to your dog barking all night long for seemingly no reason… Conflict all day long. In comparison, have you ever had that day when you woke up feeling on top of the world and good things kept coming your way from morning through night? In essence, each of these examples illustrates the principle. The mindset that exudes happiness and confidence from within is completely irresistible and attracts success.

But what if we are not in a good place emotionally and we can’t stop our mind from pulling us into the abyss of our own negative thinking?

Personally, I got myself out of my downward spiral by searching for statements that I could truly believe in. During what I call it the decade of disaster for a reason I refused to believe I would be a failure and have to declare bankruptcy. My first thought was, “This can’t be all there is for me.” The entire story can be found in my book, Happy Woman Happy World.

That little adjustment to my thoughts is what helped me get from bad to great. At the time, I couldn’t believe I was going to be making millions, but I did believe that declaring bankruptcy would not be the end of my story.

If you want a six-figure income, you’ll never get there if you don’t truly believe you are worth it. And it’s the connection between wanting it and believing it’s possible that can make all the difference. You’ll never close the gap between those two points with a negative mindset.

What is a thought in which you can truly believe? “I am making an impact.” “I will change the world.” “I am creating a better future for my children.” “I am able to operate at a much, much larger scale.” These thoughts are the first steps to a positive mindset.

Be careful to avoid turning these thoughts into their negative opposites. “I am not making the impact I should.” “How could someone like me change the world?” “I am trying to do my best.” “Why don’t they see how good I am?” Practice switching negative statements into positive ones.

Beginning today, I ask you to pay close attention to the way you think. Success will still take hard work, determination, and time. But with a positive mindset, your energy will be flowing in the right direction propelling you forward. Please do let me know how this is going for you—I’d love to hear your story of success!

By Beate Chelette

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Overdue Change? How Women Impact On Boardroom Dynamics and Why Boards Need It

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focused-diverse-women-working-trading-strategyCurrently, Boards Are Underperforming and a recent article in HBR went further to declare that “boards aren’t working.” Boards are failing at “their core mission: providing strong oversight and strategic support for management’s efforts to create long-term value.”

Bartman & Wiseman reported that boards are at the top of the blame list for pressuring companies to focus on short-term financial results, with board members being the first to admit so. A previous McKinsey study among board directors revealed serious gaps in understanding company strategies, how firms create value, and in-depth knowledge of industry dynamics.

As a core part in how to address this issue, the authors stated, “Part of the lack is in deep, strategic understanding of the business… If the aim is fostering the proper long-term view, what matters most is the quality and depth of the strategic conversations that take place.”

So, boardrooms are broken? How can gender diversity help?

Increasing the number of women directors changes boardroom dynamics, says a recent article in the Harvard Business Review penned by Laura Liswood, Secretary General, Council of Women World Leaders – who reflects upon ongoing progress.

Real Gender-Diversity Creates Results

The impact of gender diversity on results has been repeatedly demonstrated. Recently a French study found that women in boardrooms has a “significant and positive impact on economic performance” and that “gender diversity even reduces corporate inefficiencies and enables firms to come closer to their optimal performance.” Studies show that corporations with more women in the boardroom experienced greater financial performance.

Beth Brooke-Marciniak, Global Vice Chair of Policy at Ernst & Young, stated, “The evidence abounds: In 2012, Ernst & Young reviewed 22,000 audits that our member firms were performing in four countries on three continents. We found that gender-balanced teams were much more successful than other teams. They don’t just outperform other teams in quality – they also bring back better returns…Research shows that companies with at least one woman on the board have a higher return on equity, higher earnings and a stronger growth in stock price than companies with all-male boards. Bringing diverse voices to the table improves the solutions we see.”

Critical Mass Matters

Many studies demonstrate that a critical mass of women on the board, not just tokenistic representation, leads to better financial results and a greater impact on boardroom dynamics. As an article in Forbes put it, “Forget ‘one and done’ or ‘two and through’ – put three or more women on the board and the financial results are even better.”

A study by Thomson Reuters across 4,255 public companies found that while 64% had women on the board, only 20% had boards with over 20% women – while indices made up of mixed boards performed better. Debra Walton, Chief Content Officer, writes, “One idea in particular resonates for me. It’s called the ‘Power of Three’: One woman is a token, two are a presence, and three are a voice. Some would argue that company boards — which, after all, exist to offer insight on important strategic decisions — need that power because of the potential it offers.”

Some studies assert that women in insignificant numbers impact insignificantly on board performance, whereas the inclusion of at least three women on the board has a positive impact on firm value. Organizations like law firm Herbert Smith Freehills aim for 30% representation. Global Head of Mergers and Acquisitions Stephen Wilkinson said, “Just about every respectable study that has come out in the last ten years shows organisations which have a greater gender balance at management level are financially more successful.”

Impacts of Critical Mass on Boardroom Dynamics

Featured in the HBR and in his book Challenging Boardroom Homogeneity: Corporate Law, Governance and Diversity, Dr. Aaron A. Dhir’s work provides an insider look into Norwegian boardrooms and illustrates the impact of having at least 3 women in the boardroom. Dhir identified seven effects of gender-based boardroom heterogeneity for work, governance, and group dynamics:

  • Enhanced dialogue
  • Better decision making, including the value of dissent
  • More effective risk mitigation and crisis management, and a better balance between risk-welcoming and risk aversion behavior
  • Higher quality monitoring of and guidance to management
  • Positive changes to the boardroom environment and culture
  • More orderly and systematic board work
  • Positive changes in the behavior of men

He also noted outsider status and independence were powerful influences, opening up closed social groups and network dynamics and restructuring social bonds between directors, the CEO, and high-level management.

Enhanced Dialogue & More Thorough Decision Making

Dhir found that many women brought “a different set of perspectives, experiences, angles and viewpoints” than their male counterparts. Lisswood noted, “Board members also observed that female directors are ‘more likely than their male counterparts to probe deeply into the issues at hand’ by asking more questions, leading to more robust intra-board deliberations. Most women appeared to be uninterested in presenting a façade of knowledge and were loath to make decisions they did not fully understand.”

Female directors tended to foster a different approach to engagement – seeking the opinions of others and working to ensure everyone had a say in the matter.

The importance of diversity in decision-making is paramount. Research has found that homogenous groups don’t reach better decisions, but they’ll think they have. Heterogenous groups arrive at better decisions, but won’t think so. Experience and outcome are two different things.

INSEAD research postulates that in-group and out-group dynamics in a diverse group lead to more contentious and comprehensive discussions, and results in “more thorough, more comprehensive decisions” when women are on boards.

The importance of diversity in decision-making is paramount.

Diversity Disrupts Groupthink

Groupthink is defined as a pattern of thought characterized by self-deception, forced manufacture of consent, and conformity to group values and ethics – a serious liability of homogenous boards. Disrupting it is a big asset of women in the boardroom, even if and especially if they disrupt the existing dynamic.

“Groupthink seriously imperils the board’s decision-making process as it introduces decision biases and blind spots into the process. This is mainly attributed to directors’ endeavor to maintain cohesiveness and solidarity within the board at all costs. Such group pressure compels many directors to ‘go with the flow’ instead of challenging the dominant view in the boardroom,” states Fause Antelo Ersheid, Economist and Senior Corporate Governance Analyst & Researcher at the Abu Dhabi Center for Corporate Governance.

Ersheid recommends, “To overcome this decision-making impediment, companies need to implement a comprehensive diversification program in the boardroom; the board should be as diverse as the company’s client base and perhaps more.” He recommends gender, age, racial, and professional diversity and individually-appointed directors, underlining chairs must champion diversification.

As Thomson Reuter’s Walton states, “Diversity of gender brings a diversity of thought. Getting more women involved reduces groupthink, unlocks fresh perspectives, and fosters innovation and organizational creativity – ultimately emulating a diverse customer base. Only with a broad range of viewpoints can a board make governance and advisory functions meaningful and offer a balanced approach to risk management.”

Not a pipe dream?

According to Liswood, “The Norwegian experience has provided a window into what might happen if and when board leaders and companies elsewhere decide to seriously commit to making sure their boards are truly diverse, moving consciously from homogeneity to heterogeneity.”

By Aimee Hansen

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Changemakers: The Athena Leadership Column

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Women workingVenture capitalist Jeanne Sullivan’s bio is one that defies history. Hers is the resume that appeared – under a woman’s name – thirty years ahead of the pack. She was a partner in Olivetti, and hammered out 40 tech deals in seven years, which “emboldened me,” she says, as Sullivan was “sitting at the table with the great VCs.”

This led her to co-found StarVest Partners – now a hugely successful VC firm – in 1998, when women angels and VCs in the tech world were mythically rare characters. She is revered today as one of those women who is not only vastly successful, but also down-to-earth, funny, and focused on mentoring younger women in technology.

What is the secret to success?

In this series of Athena Changemakers articles, I want to ask the question: what makes the outliers in women’s leadership, different? What lessons did they teach themselves? What skill sets do they themselves highlight? This set of questions, put to this small, unusual population of female “superachievers”, is critical at our point in US and global history. It is now well documented what institutional hurdles women are facing in the workplace; but far less well documented – since it is much less socially acceptable to talk about. Is the bottom-line learning about what the very successful cadre of female changemakers actually did differently from their equally talented peers? Tracking that ‘difference’ in these unusual women’s approach and perhaps even philosophy is the goal of this series.

In a recent interview, Sullivan identified six guidelines for success for women starting out in the tech field – or in any field.

Rule #1

First, “identify your passion,” she insisted. She knew early on that she herself was “an inner geek”and she comments that “I was the one who wanted to take the watch apart.” She also stresses how important it is to trust one’s own unique sensibilities: “with all the windows out there, I knew one was lit for me.”

Rule #2

Then: “Put role models in front of girls.” “We only were teachers, mommies, nurses and secretaries,” she explains of her generation – but she knew that “I wanted to carry a briefcase. I wanted to be in the business world.”

Rule #3

Her third rule – “Build your networks.” Sullivan’s supportive Italian family of eight kids was a resource for her in boosting her sense that she could do anything. But she explains that with what she calls “intelligent teams”, citing the work of MIT professor Thomas Malone, anyone can create that supportive emotional/ professional environment around herself. In 1980, she joined a law firm that attracted ‘computer geeks” and built her first “kitchen cabinet”. She stresses the value of always cultivating an “intelligent team” of vibrant, supportive men and women to nurture one’s goals. Sullivan makes the case that it is up to the woman to hand-pick this group around her. This guidance is quite different from the usual advice women are given about success in the workplace – advice to adapt and fit in, strategize and suppress. It is startling to consider, as it presumes a truly healthy female consciousness and a revamped social Darwinianism: a woman is actually choosing her own environment to enhance her own chances of success, rather than being at the mercy of her environment.

Rule #4

Her fourth rule for success is surprising in its simplicity: “Go to conferences.” Sullivan did not grow up in privilege – she worked hard to enrich her own environment. She explains that any young woman can take her curiosity and passion – whether it is for fashion, tech, or any sector – and find a conference. It is cheap, she says, or free, to go inside. And if you ask questions, people will tell you anything, she notes. She claims that she learned about the tech world from “covering the floor” at conferences: “Are you hiring?” and “Who are your competitors?” are some of the questions she asked. This easy, practical step “into” a world is actually quite important: the obstacle many young women face in imagining what to do next to realize their professional dreams is a sense of mystification – that the world they want to enter is behind high locked walls with secret passcodes.

Rule #5

Her fifth rule? “Don’t look for ‘Safe”’. Sullivan cautions that women are often risk-averse – a finding that is confirmed by the research compiled at Barnard College’s Athena Center for Leadership Studies. Indeed, the latest peer-reviewed studies show that women in the workplace tend to identify for themselves an aversion to taking bold, strategic risks – along with a reluctance to advocate for themselves, and a hesitation to engage in longterm visioning — as areas in which they themselves would like to grow. Sullivan argues that in today’s world, you should not stay in a safe environment that lacks challenges, but should “punch your ticket and move along” as the landscape for opportunity is so vibrant.

Her most provocative conclusions are grouped under a riff she calls, I think hilariously, “Stupid Things Women Do.” I recognize these from years of watching women pitch, and from presentations to me by young women seeking mentoring. “Be prepared,” she says. “Read the board package! Many women show up to the pitch meeting not fully prepared. Ask them pointed, informed questions. Pitch better! Spit it out of your mouth!” she laughs. “Tell me what you are building!” Indeed, there is often so much anticipatory language – what we in journalism call “throat-clearing” – in women’s pitches, that her advice to get right to the gist of the matter is invaluable.

“How do you get there?” she asks, of that perfect pitch? By testing it with your “personal board of advisors.” She adds that you have to “know how to execute and scale”; that women often “leave off the marketing plan.” Finally, she reminds us, “have domain knowledge” – whatever it is, in the sector in which you want to “play big,” you have to know your field and show that you do.

Finally – back to your “intelligent teams” — call the people around you to open up those doors. “That is what guys do,” she remarks. “They call their buddies. ‘You saw that guy last month – can you get me a meeting?’ Do you know women who do that?” she asks rhetorically, as we all know the answer. Sullivan, in fact, cites a study that shows that if a woman knew her best friend’s husband could fund her venture – she still would not ask him for investment. That hesitation to be “pushy” with one’s peers, alone, is a real disadvantage for women.

The beauty of a role model such as Jeanne Sullivan is that she makes geeky, tech-savvy, knowledgeable, ambitious, even pushy advocacy for one’s own idea – seem really charming, inspiring, amusing, delightful, and eminently do-able. Sullivan sees a different future for the young women of today with their own ventures and dreams: “I see a kinder, gentler user interface of women VCs and Angels” she says. “Not gentler in the sense of softer but – they want you, young women, to succeed.”

With Sullivan’s advice and example, many more of them surely will.

By Naomi Wolf

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Update 2015: Is the FTSE 100’s Boardroom Progress real?

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BoardRoomThe news is out…at 23.5% the representation of women in the UK FTSE 100 boardroom has doubled over the past four years (12.5% in 2011), with the voluntary 2015 target of 25% within close reach. But is that number standing on stilts?

The race by businesses and government to hit the UK number has been a voluntary effort to avoid the threat of EU-imposed gender quotas. But the resounding press response to the latest annual report is a round of hands flying up to question how a weak executive pipeline is going to deliver sustainable change in the British boardroom. Not to mention the implications of a serious gender imbalance when it comes to executive directors.

Overall FTSE Numbers Reveals Progress & Room to Grow

Released in the Women on Boards report and crunched by Cranfield School of Management, the FTSE 100 numbers show progress at the top. There are now 263 female directors, with only 17 more to appoint this year to meet the target. There are no longer any all-male FTSE 100 boards, and 41 companies have over 25% female boards (vs 12 in 2011).

FTSE 250 numbers reveal significant rates of change, but ultimately still low numbers with only 18% women representation on boards (vs 8% in 2011) and 23 all-male boards remaining (vs 131 in 2011). The UK now ranks fifth among Europe in terms of the number of women on boards.

“We must celebrate this outstanding achievement and the change in culture that is taking hold at the heart of British business. The evidence is irrefutable: boards with a healthy female representation outperform their male-dominated rivals,” said Vince Cable, Britain’s business secretary. Cable expects to see 1/3 representation by 2020.

He commented, “We know that’s where the tipping point lies in influencing decision-making. We must also focus on ensuring women are rising fast enough through the pipeline and taking up executive positions.”

“The tide is turning as we see senior women in every sector and across all industries, breaking through the barriers to succeed at the highest levels,” said Education Secretary Nicky Morgan.

However, both Cable and Morgan are quick to point out the significant work yet to do, namely and glaringly on the female executive pipeline.

Behind the Numbers, A Glaring Gap In Female Executives

Looking closer at the FTSE numbers reveals a deeper story – a serious dearth of female executives, setting for a gender “executive” imbalance in the boardroom.

Woman make up less than 1 of 10 executive directors in the FTSE 100 – comprising 8.6% of executive directors, but 28.5% of non-executive directors. Since 2011, there’s been a 204% increase in female non-executive appointments (122 seats), but only a 33% increase in female executive appointments (6 seats).

Less than 10% of FTSE 100 female directors are executives whereas 30% of male directors are.

Even more worrying, women make up less than 1 of 20 executive directors in the FTSE 250 -comprising 4.6% of executive directors, but 23.6% of non-executive directors. All new additions since 2011 have come at the non-executive level.

Only 7% of FTSE 250 female directors are executives (vs. 17% in 2011) whereas over 30% of male directors are executives.

You can count FTSE 100 Women CEO’s on just one hand – because there’s five, and that number hasn’t changed since 2015. You’ll need two for the FTSE 250 Women CEO’s – there’s nine.

So British boardrooms are predominantly non-executive, but that’s nearly entirely true for women. This raises at least two big questions.

One is around stability of change. The other is around real influence.

Where are All the Executive Women?

The numbers certainly reflect a UK turnaround on research findings that women are less likely to be promoted to the boardroom if they haven’t held an executive position. But that doesn’t make for a stable model for continued growth.

According to Cranfield’s Dr. Elena Doldor, without more meaningful pipeline targets, progress will stagnate or slip.

“Our predictions suggest that as we approach 2020, women’s representation on FTSE 100 boards is likely to stagnate around 28%,” she shared. “There are still not enough women on executive committees or in the executive pipeline. Introducing aspirational and measurable targets for women at all levels is the only way to achieve real progress.”

Lord Davies also called for urgency in addressing “the loss of talented senior women from the executive pipeline.” Research shows female managers over 40 in the UK earn 35% less than their male counterparts. In more than one way, the pipeline isn’t supporting retaining women.

A recent survey showed a fifth of UK women believe it is “simply impossible” for them to reach a senior management role, and half reported that men make most of the decisions in their company. Yet a third dream of reaching CEO or board level.

Ann Pickering, HR Director of O2, who partnered with the CIPD on the research, writes, “A much wider cultural shift is required – and a hell of a lot more effort.” She continues, “It’s becoming a bit of a buzzword, but it really is all about the pipeline – ensuring that women at every level of the organisation are getting the support and encouragement they need to progress, so that a senior role is the logical culmination of that progression.”

One suggestion for comprehensive action put forth by Jude Browne, a Director of the University of Cambridge Centre for Gender Studies, is identifying “thwarted critical mass – situations in which a disproportionate number of women occupy positions at a certain level and yet the natural progression one might expect to see does not materialize.” In other words, addressing advancement for the masses of women that get stuck in the pipeline, in the place they’re actually stuck – not just at the top.

Browne asserts, “The Critical Mass Marker approach would ensure that people who are equipped with the relevant skills and experience are able to move up and across institutional structures irrespective of characteristics such as race or sex.”

Achieving Influence or Presence?

So, less than 1 in 10 women directors are executives. 1 in 3 male directors are. Those female non-executive board members are unlikely to be renumerated the same, even as their male non-executive counterparts. And will they pull equal per capita weight in critical decision making?

The jury is out. But according to an FT article, “Stella Creasy, shadow business minister, conducted her own research on FTSE 100 boards, and concluded that the drive to appoint women as non-executive directors meant they were ‘making up the numbers and not getting a chance to make the decisions’.”

The UK has everyone’s attention and is touting the business impact of women in the boardroom, but the surge has been motivated by a hope to evade gender quotas. That’s not the same as positive motivation towards gender diversity across the board (meaning, not only the board). Maybe the real opportunity, the one that’s held within the pipeline challenge, is to prove a multi-level commitment to real change.

By Aimee Hansen

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Unleash Your Leonardo Da Vinci

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da vinciJust the other day, I was speaking to a colleague, lamenting that we had to be professionally pigeonholed into categories.

Just choose one specialty, even when we have expertise in several others. It’s a sensible marketing strategy, but it feels so one-dimensional and we are multidimensional after all. The truth is that the average person will have as many as five or six different occupations and as many as 10+ jobs by the time he or she retires. We are to select, focus and also diversify to keep up with the emerging global and economic changes, especially in the fields of technology.

I’ve always admired Leonardo Da Vinci for his diverse talents and skill in many different areas in addition to the one he was most famous for-his painting. He was an adept and talented sculptor, musician, architect, mathematician, artist, inventor, engineer, writer, botanist, geologist and the list goes on.

Yes, he was special; yet we have the capacity of flexing our brains like muscles and expanding our talents and versatility like him. Our brains are capable of so much more than we imagine; we have unlimited potential. The key is to unlock it and make use of it! And we can. Leonardo gave us wonderful clues throughout his work, his writing and beliefs to stretch ourselves beyond what we think possible.

Da Vinci speaks of learning how to see and the importance of engaging our senses more fully, truly paying attention in new ways. He encourages us not to take anything for face value; instead, engage in inquiry and research. Test knowledge experientially to uncover truth, and just as importantly live true ourselves and to our life purpose. Rather than give up, be persistent, get comfortable with ambiguity, and be open to learn from mistakes we’ve made. So often, the answers come after much trial and error, not by walking away from a challenge, but by finding novel solutions through perseverance.

Leonardo used many different techniques to stimulate his own creativity, such as looking into various shapes and finding different patterns and associations. To innovate, whether in life or business, we have to look outside of ourselves, outside of the familiar and outside our industry to make new connection and associations. This is out-of- the-box thinking that can help us view challenges and experiences differently and produce unique results.

Da Vinci also spoke a lot about self-mastery which I believe is critical to making inroads in our growth. Not only do we have to show up for ourselves and others, but we need to gain control over our impulses and ourselves for success. Imagine an athlete or musician not being mentally or physically prepared for a concert or a competition; the outcome is likely to be unfavorable. The same principle applies to us. To learn something new and be successful, commitment, action and application are required. When passion is introduced, it’s more potent.

Da Vinci also spoke a lot about self-mastery which I believe is critical to making inroads in our growth.

He urged us to take time out from work in leisure, refresh ourselves and clear our minds which can stimulate new ideas and sprout new perspectives. So often the answers we are looking for appear almost magically when we’re in a relaxed mode. Da Vinci was a strong champion of lifelong learning. Find ways to continuously expand your own knowledge and awareness in many areas including yourself, love and the natural environment. His beliefs about valuing and respecting all of nature and the environment still apply today with the focus on sustainability. An astute observer of nature, man and all things, he believed in the strong interconnectedness of everything.

You can ignite your own creativity by making connections between dissimilar things. At first you won’t know how they can connect, but that’s what gets your brain actively blending up new combinations to amaze you. We each have multiple intelligences that call to be awakened in us Like Da Vinci, awaken them.

Dr Jo Anne White is an International Author and Speaker

Certified Professional Coach who gets to the heart of what matters most to businesses and people. With 25 years in Education, Business, Leadership and Energy Medicine, she’s helped millions of individuals & organizations shape their own dreams, master their own success and triumph in business and life. Dr White’s been featured online and in publications such as Good Housekeeping, More, and WebMD. She’s also appeared on Radio and Television Networks such as NBC, CBS, and FOX. Dr Jo Anne White is the Executive Producer and Host of the POWER YOUR LIFE TV & Radio Shows.

Guest Contribution by Dr. Jo Anne White

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Having a baby? Why choosing the right employer will make your life better

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returnersOff the back of Facebook and Google’s announcement that employees will get financial assistance if they want to freeze their eggs, we look at what happens if you decide to take the plunge and have a child now. As any woman in the workforce or with a family can attest, there is no such thing as perfect timing when planning a baby but if you are thinking of doing it you need to choose your employer wisely. All employers are not created equal with leave and benefits especially in the U.S. where is the only one offering no paid compensation for maternity leave out of 21 high-income countries.

Read more

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