iStock_000014383167XSmallBy Melissa J. Anderson (New York City)

Released last week, the 2010 Alliance for Board Diversity Census revealed some discouraging news. Despite the efforts of many organizations to highlight the importance of board diversity, despite the overwhelming business case for diversity of thought in the boardroom, and despite the high-level push for shareholder education on the value of diverse boards, today we have less diverse boards than we did six years ago.

Many people anticipated that the effects of the global recession would illuminate the fact that business as usual isn’t working. But, according to the ABD Census, boards have gotten whiter and more male.

As Janell Ross wrote in the Huffington Post last week, “The pattern raises questions about corporate America’s commitment to diversifying corporate boards and the efficacy of decades-long efforts by advocacy groups to reshape them.”

Despite the best efforts of outspoken organizations, companies continue to keep women and minorities out of the boardroom. And while ABD does highlight those companies that have achieved relatively high levels of diversity (although only a handful of Fortune 500 company managed a diversity level of 50% or more), it also published a list of 37 “stale, male, and pale” Fortune 500 companies that are failing the diversity imperative abysmally – with zero female or ethnically diverse board directors.

Most board diversity advocacy efforts have been focused on the carrot – explaining what companies can gain by improving leadership diversity (studies show that board diversity improves business). But what the report seems to show is that it’s time for the stick – naming and shaming those companies that stubbornly refuse to elect anyone but white men to the board.

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Young woman gesturing positive business perspective.Contributed by Liz O’Donnell, Author of HelloLadies.com

The theme of this year’s Simmons Leadership Conference, held in Boston last week, was “Passion & Profession,” and the program examined how passion fuels success. The Conference took place at Simmons College, home of the first and only MBA program in the US designed specifically for women.

Eileen McDargh, a speaker at this year’s event, helps individuals and organizations transform their careers, their lives and their businesses by connecting them with their passions. We had the opportunity to sit down with McDargh during the conference and examine how women can blend a productive career with a personal passion.

McDargh has first-hand experience. Thirty year ago she walked out of her public relations job and never looked back. “I just couldn’t write another press release,” she said. And she leapt at a time when she needed the money. She was confident, though, that if she followed her passion, she would land on her feet.

And she was right. Realizing, of course, that not all women can walk out on a steady paycheck to pursue a new idea, McDargh acknowledged, “Sometimes, it’s our job that supports our work.”

She encouraged women to pursue their passion, even if they aren’t totally clear on the outcome. “You don’t have to be crystal clear,” she says. “But you must be crystal on the intention.” And forget about achieving work/life balance.

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iStock_000007040467XSmallBy Kelly Tanner (New York City)

Executive coaching can be an effective tool for women looking to advance their careers, one that businesses can leverage as an investment in developing leaders.

Dale Kurow, an executive coach based in New York City, says clients seek her services for a variety of reasons. Some are looking to develop stronger skills politically due to a recent promotion, or to quickly strategize for a new, “stretch” assignment. Others are looking for fresh ways to resolve a problem, such as behavior patterns that hinder promotion or recognition, managerial difficulties, or a communication “style” that needs development, which Kurow says is often code for “a need to increase sensitivity towards others, or improve emotional intelligence.”

Still others seek coaching with a longer view, to achieve goals within their career path and reach the next level in their journey. Employers may refer an employee to an executive coach for these same reasons, or clients may find a coach independently. In each case, the coach partners with the client to objectively identify strengths and challenges, and becomes a strategic resource towards achieving the set objectives.

Kurow states that women may especially benefit from this partnership:

“Many of my female clients hire me to help them get to the next level. They lack the skill sets and mind sets that men seem to have been born with. Some feel that working as hard as you can should set them up for promotion, without realizing that managing up, across and down effectively is crucial. Just as important is building political skills and developing champions/mentors across their organizations. In our coaching sessions, we work on what they can do, specifically, to build those relationships and raise their profile.”

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iStock_000015539406XSmallBy Melissa J. Anderson (New York City)

When you consider women in the developing BRIC economies – Brazil, Russia, India, and China – who do you envision? Are they victims? Are they oppressed? Or are they ambitious high performers, managers, and business leaders? As part of its lengthy study on women in these markets, The Center for Work Life Policy recently released the results of its report, “The Battle for Female Talent in China,” which seeks to paint a new picture of educated women in the developing world.

Ripa Rashid, Executive Vice President at the Center for Work Life Policy, explained, “We wanted to create a narrative – a more complete picture of women in these markets. When you hear about women in emerging economies, you often think about microfiance or victimhood or sex trafficking. And these are all important issues. But there is another narrative of successful, ambitious women in these regions as well.”

She continued, “We wanted to bring to light that neglected narrative.” The Center for Work Life Policy study, conducted between 2009 and 2010 and co-authored by Rashid and Sylvia Ann Hewlett, polled hundreds of white-color female professionals in the developing world. The results, which will be published by the Harvard Business School Press this fall, reveal fascinating new insights into the cross-cultural dynamics of ambition and motherhood.

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CarolRothContributed by Carol Roth

The glass ceiling has gone digital. Even though we are in a new age of information and engagement, there is still the old boys’ network in place. When you think of the top thought leaders, authors, and influencers, the names that are bantered about are more often than not male. There a very few women in the top spots or being given the credit they deserve when it comes to business—except for in “special” women’s lists and women-only groups.

“Top Women in Social Media” lists, “Top Women Authors” lists, women’s conferences, and women’s networking groups are creating, as marketing and advertising executive Margie Clayman calls it, a “league of our own.” These are supposed to help recognize women’s achievements, develop leadership skills, or create networking and business development opportunities. However, this special treatment actually is having a negative effect on our progress.

The league of our own further segregates women instead of integrating us alongside our male peers and coworkers. How? Gender segregation in business organizations makes it less likely for us women to secure top spots, because we are being isolated from those making the decisions at the top. If we aren’t working and playing alongside men, we aren’t going to benefit from mentoring opportunities. We aren’t going to be top of mind when someone is considering filling a C-suite position or scouting for a conference speaker. We aren’t going to be the first call to get the “big deal,” because we are hanging out with other women who are primarily in the same position—and not the decision makers.

Moreover, putting us in a league of our own makes us seem like a special interest group. We aren’t. We would be horrified by a men’s-only networking group. Why put ourselves at a distance by doing the same thing as women? I don’t want to be a female entrepreneur. I want to be an entrepreneur with the same opportunities as anyone else, regardless of my anatomy.

Let’s focus on integration instead of segregation!

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iStock_000007832712XSmallBy Melissa J. Anderson (New York City)

“It makes sense for investors to get involved. Gender issues can have financial relevance, and there is plenty of research to back that up,” said Joe Keefe, President and CEO of Pax World Investments. Keefe believes that shareholders can and should demand more from the companies they invest in. Pax World’s investing philosophy is built around driving change around sustainability and gender.

Pax World just released a paper written by Keefe, Gender Equality as an Investment Concept, drawing together a decade of research on the strategic value of women in leadership roles at today’s corporations. “I was trying to really call attention to the fact that investors can make a difference,” Keefe said.

He explained, “I thought that if we better publicize that research, it will underscore the point that companies that do a better job retaining and advancing women are better companies. Investing in these companies is a smarter way to invest.”

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Young women sitting in row reading reportBy Elizabeth Harrin (London)

Don’t get us wrong. We love the fact that there are more women being recommended for non-executive roles at British companies, according to new research. But does this small uplift really show a sea-change in attitudes to women in the top jobs?

The research, published by MM&K, an executive remuneration consultancy, involved more than 300 directors. HR Magazine reports that in 2010, only 43% of survey respondents said they would recommend a woman as a non-executive director. This year the figure is up at 50%. Good news for women wanting roles as non-execs; there seems to be more willingness to put forward women’s names when considering making new board appointments. But 50%? Seriously? The other half of the people asked don’t know any women who would make good non-executive directors?

The trouble is that there just aren’t that many great female candidates around. There are only 242 women with board seats in the FTSE350 companies. That’s 242 seats out of 2,742 available seats. Part of the problem is that women are under-represented in senior management in general. “Of the 14 companies in the FTSE100 that were founded within the last fifty years, every one of them was started by a man, or group of men,” says David O’Hara, Founder of Blackthorn Focus. He cites examples like Autonomy, Cairn Energy and Investec. O’Hara believes that non-executive roles are generally filled by people who are in a founding position or the role of finance director – and these are not the positions typically held by women.

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iStock_000006712763XSmallBy Melissa J. Anderson (New York City)

Last night the National Council for Research on Women hosted this year’s Making a Difference for Women Awards Dinner. Honorees included Michelle Bachelet, Under-Secretary for Gender Equality and the Empowerment of Women, United Nations; Peter and Patricia Gruber, Founders of the Peter and Patricia Gruber Foundation; Ed Gilligan, Vice Chairman of American Express; Dr, Ruth J. Simmons, President of Brown University; and Muriel Siebert, Founder & CEO of Muriel Siebert & Co., Inc.

Event emcee Natalie Morales, NBC Today Co-host and National Correspondent, noted, “Women and girls are showing us that they have the talent and the skills to inspire us, and can pretty much do it all.”

But, she continued, “we still have a long way to go.”

The individuals the NCRW honored last night have shown remarkable vision and effort toward advancing women. Yet they each recognized that there is more work needed before gender equality becomes reality.

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iStock_000010363335XSmallBy Stephanie Wilcox (Middlefield, CT)

Why is there such a paucity of female traders on Wall Street? Why are they difficult to find? Why don’t they apply for hedge fund jobs? Renée Haugerud, Chief Investment Officer and Managing Principal of Galtere Ltd., asked these questions when she discovered the difficulties of hiring female traders.

Though the hedge fund industry is a $2.5 trillion industry, a mere three percent of the assets are managed by women, according to Lauren Templeton, hedge fund manager and founder and principal of Lauren Templeton Capital Management and Maximum Pessimism, LLC. Wall Street is predominantly led by men, but what would happen if there was a better balance of men and women on Wall Street?

Haugerud thinks it would make a better Wall Street. “We need more balanced and more diversified trading desks,” she said. “Only a diversified portfolio management team will produce truly diversified portfolios. When I try to hire women I have a difficult time finding them. I have to actively search. A trading desk should represent all nationalities, ethnicities and maintain a gender balance as well.”

That’s why Haugerud, founder and chief investment officer of the commodities-focused asset management firm Galtere Ltd. donated $1.5 million to the University of Tennessee at Chattanooga (UTC) to establish a new program with an initiative on trading from a female perspective. The program, Finance for the Future, focuses on female investment bankers and exposes all attendees to what Haugerud refers to as the female/right side of the brain of the trading business.

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iStock_000005966600XSmallBy Melissa J. Anderson (New York City)

A little more than two years ago, The Executive Leadership Council Institute for Leadership Development & Research published the findings of its Black Women’s Research Initiative [PDF]. Executive Director Ancella Livers, Ph.D., explained, “Some of our female members noticed the numbers of black women in executive roles seemed to be fairly small. They wanted to know why.”

“We really wanted to be able to understand what’s going on, and to give some of our younger women markers on a pathway.” She continued, “Younger women have the intelligence and the skills, but not the access to the experiences of the women who went before them to guide the way.”

Unfortunately, according to Dr. Livers, in the years since the research was published, there has not been much change regarding the number of Black women in senior roles, or in the pipeline. And while she noted the importance of Ursula Burns as the CEO of Xerox, Dr. Livers said, in general, many black women perceived a lack of role models, as part of the reason why. Others suggest that black women lack strength in their strategic relationships with those in power, as another reason.

This week and throughout the month of February, The Glass Hammer will highlight some of those Black women who have achieved a high level of success in the corporate environment, who can serve as role models for the women climbing the ladder behind them.

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