iStock_000013251275XSmallBy Melissa J. Anderson (New York City)

Speaking last week at the White House Project’s annual Epic Awards, the organization’s president, Tiffany Dufu said, “My dad used to always tell me, ‘Tiffany Dufu, if you want to have something you’ve never had before, you’re going to have to do something you’ve never done before to get it.’ What I want to have now is for women leaders to reach [levels] we’ve never seen before.”

The White House Project works to prepare women for leadership in politics, business, and the media. The Epic Awards honor individuals who have made big strides when it comes to increasing the percentage of women in leadership roles.

“We will have achieved success when we’ve bottled, mass reproduced, and distributed that White House Project equation to an entire generation of women,” Dufu said.

The host of the event, Geena Davis, Academy Award winner and founder of the Geena Davis Institute on Gender in the Media, remarked, “Our goal has to be to get so many women into leadership that we can focus on their agenda, rather than on their gender.”

Read more

Cheerful employerBy Melissa J. Anderson (New York City)

Last week the National Association for Female Executives held its annual luncheon in celebration of its 40th anniversary. In addition to honoring its 50 top companies and ten to non-profit organizations for executive women, the organization hosted a fascinating discussion between Kraft CEO and Chair Irene Rosenfeld and DuPont CEO and Chair Ellen Kullman.

The two women spoke candidly about family, success, and power – and they acknowledged, the world still has a long way to go in supporting female leaders.

Rosenfeld, accepting NAFE’s award for women of the year, discussed a 1943 Transportation Magazine article on tips for employing women during the war. One piece of advice read:

“Give the female employee a definite day-long schedule of duties so that they’ll keep busy without bothering management for instructions every few minutes. …women make excellent workers when they have their jobs cut out for them, but that they lack initiative in finding work themselves.”

“Truthfully, as they say, we’ve come a long way baby,” Rosenfeld said with a laugh.

“But despite progress, there is still a persistent gender gap,” she continued, pointing out that today’s college educated women will still earn $1.2 million less than their male counterparts. “As a female CEO, these issues concern me deeply.”

Read more

catalystawardBy Melissa J. Anderson (New York City)

Yesterday’s 2012 Catalyst Awards Conference was a celebration of landmark achievements. As Catalyst celebrated its 50th anniversary, the organization awarded its annual prize for diversity initiatives to two organizations: the food and facilities management services company Sodexo and Commonwealth Bank, Australia’s leading financial services company.

The two programs represented breakthroughs in diversity. Sodexo’s ROI driven diversity program has increased its number of women in leadership by 74%. Commonwealth has set the tone for diversity in Australia by being the first bank in the country to set targets for attracting, retaining, and promoting senior women.

The program also celebrated another kind of milestone. For the first time ever, two sisters have become Fortune 500 CEOs: Maggie Wilderotter, Chairman and CEO of Frontier Communications, and Denise Morrison, President and CEO of Campbell Soup Company. Together, they shared their work and family wisdom during the conference’s lunch panel.

What became clear throughout the event was the importance of leadership – how a dedicated and vocal commitment to diversity from the top can truly shape a company’s culture of inclusion.

Read more

Businesswoman Standing Out From the Crowd - IsolatedBy Melissa J. Anderson (New York City)

In a recent New York Times article, Reuters Global Editor-at-Large Chrystia Freeland echoed recent comments made by Secretary of State Hillary Clinton about a consistent characteristic of extremists around the world – they try to control women.

Freeland points to a new study out of the University of Toronto’s Rotman School of Management that suggests cultural styles may be to blame.

Based on an analysis of 32 countries, the study’s authors, Rotman professors Soo Min Toh and Geoffrey Leonardelli, propose two different types of cultures – “tight” and “loose.” Loose cultures (like Hungary, New Zealand, and Ukraine) don’t have extreme norms and tolerate change and deviation from tradition well. On the other hand, tight cultures (like Pakistan, South Korea, and Turkey) tend to have a strong reaction to anything that is different from what they consider traditional or normative – and in many cases this means female leadership.

Toh explained, “Cultural tightness can prevent the emergence of women leaders because tighter cultures may make a society’s people more resistant to changing the traditionally-held practice that placed men in leadership roles.”

But that’s only one piece of the puzzle, she explains. After all, as generally homogeneous and socially conformative, Norway is also considered a “tight” culture – and it is often at the forefront of gender equality action.

The difference is that Norway actively promotes gender equality as a cultural norm, where everyone from political and corporate leaders to individual citizens are expected to participate. It is a society keenly focused on egalitarianism.

Leonardelli continued, “But when it comes to the emergence of women leaders, cultural tightness can have an advantage too. Cultural tightness may also be a helpful instrument, because in societies where men and women are treated equally, tightness could more strongly implement and sustain practices that encourage the emergence of women leaders.”

The study suggests that workplace cultures can be influenced by the tight/loose dichotomy as well. How is culture change looked upon at your company? How about in your industry at large? Are women merely tolerated or are they celebrated as leaders?

Read more

Women-working-on-tablet“I continue to be humbled by being in the company of women,” said Cynthia Fryer Steer, Executive Vice President and Head of Manager Research and Investment Solutions, BNY Mellon. “We can learn so much from each other.”

Steer was speaking at The Glass Hammer’s latest career management event “Navigating, Negotiating, and Building Your Strategic Network” last week. Our panelists shared their advice and wisdom (based on their combined “150 years of experience” said moderator Kathleen McQuiggan, President of Catalina Leadership) on how to get to the next level in the investment management industry.

In addition to Steer, our panelists included Nicole Arnaboldi, Managing Director and Vice Chairman of Alternative Investments, Credit Suisse; Nanette Buziak, Managing Director, Head of Equity Trading, ING Investment Management; Ingrid Dyott, Managing Director and Associate Portfolio Manager, Neuberger Berman; and Paula L. Rogers, President, Institutional Capital.

Read more

business womanBy Melissa J. Anderson (New York City)

Last Year, EU Justice Commissioner Viviane Reding encouraged companies to pledge to increase the representation on their corporate boards significantly. She said it was companies’ “last chance” at self-regulation – and she meant it.

The deadline for companies to commit to raising the percentage of women board directors is today – International Women’s Day – and based on the unsatisfactory turnout (only 24 companies), Reding said, it may now be time for quotas.

The New York Times reported:

“France and other countries with legally binding quotas have made the most progress in placing women in top business positions, Ms. Reding said during an interview Friday in advance of her announcement. E.U.-wide rules were now needed, she said.

“‘Personally, I don’t like quotas,’ Ms. Reding said. ‘But I like what the quotas do. Quotas open the way to equality and they break through the glass ceiling.’ Countries that have quotas ‘bring the results,’ she said.”

Reding will begin meeting with governments, unions, companies, and other groups through the spring, and plan the details of the law enacting boardroom gender quotas across the EU. She told the Times, “Let all those who are concerned come in and say how we should proceed.”

One thing is for sure: Reding doesn’t seem to be bluffing.

Read more

Team portrait of happy businesswomen in officeBy Melissa J. Anderson (New York City)

“There will be people who… will wish you had just kept your mouth shut,” said Anita Hill, discussing the challenges women face when speaking in the face of adversity. “But you have to deal with reasserting yourself, and being your authentic self.”

Hill was speaking at the National Council for Research on Women’s annual awards dinner last night, and she commented passionately on the importance of having courage. Hill said, had she known the outcome of her 1991 televised testimony on sexual harassment claims against US Supreme Court nominee Clarence Thomas, and the character and credibility smear she endured afterward, she still would have gone through with it.

Honorees for the night included Soledad O’Brien, CNN Anchor and Special Correspondent; Beth Brooke, Global Vice Chair, Public Policy, Ernst & Young; Anita Hill, Senior Advisor to the Provost, Professor of Law, Public Policy and Women’s Studies, Brandeis University; and the creators of the PBS Series Women, War & Peace, Abigail Disney, Pamela Hogan, and Gini Reticker.

Speaking on the panel, Hill was joined by O’Brien, Brooke, and Disney, discussing the nature of courage, authenticity, and power.

“When it comes to women and leadership, many of them get into leadership because of something that happens to them and they have to do it,” Hill said. “They care about a problem and they want it addressed and know they have something to add.”

“Find an issue you are passionate about and become the leader to address it.”

Read more

Professional woman programmerBy Melissa J. Anderson (New York City)

Today the Anita Borg Institute for Women and Technology released its latest report on getting more women into the technology workplace. The report combines best practices from a number of top technology companies on recruiting and retaining women, as well as suggestions on how companies of any size can implement them.

Denise Gammal, PhD, Director of Corporate Partnerships at the Institute, explained, “Last year when we first debuted our top companies of the year award – IBM was the winner – we held a workshop to discuss best practices. And through the year, we’ve increasingly had companies ask us what they can do to hire more talented women.”

This year’s Top Company for Technical Women award, released along with the study, went to American Express. Jerri Barrett, Vice President for Marketing at ABI, said, “This is a company that has achieved over 30 percent technical women.”

Gammal continued, “And it’s at every level of the pipeline, which is an impressive accomplishment.” She added that the industry norm is around 20 percent women at the entry level , and only three to five percent at the very top.

The report, “Solutions to Recruit Technical Women” is the first in a series of papers discussing tested methods to improve the gender ratio in the technology industry. “Our goal really is to come up with an actionable set of recommendations,” Gammal said. “Any company – no matter their size or resources – will find solutions they can implement.”

Read more

iStock_000003883449XSmallBy Melissa J. Anderson (New York City)

“Even during this time of economic turmoil, women are generally positive about the ability to find investments in the industry,” said Kelly Easterling, Principal in the Financial Services Practice at Rothstein Kass and Principal-in-Charge of the Firm’s Walnut Creek office.

Rothstein Kass, the alternative investments professional services firm, recently released the results of its study, “Women in Alternative Investments – Industry Outlook and Trends.” The firm has been performing surveys on industry views since 2007, Easterling explained, but “the vast majority of the respondents had been male. We wanted to find out if perceptions are different for females, who are underrepresented in the industry.”

She pointed out that the alternative investments workforce is roughly 90% male and 10% female. The survey, completed in partnership with 85 Broads, polled 189 female executives in hedge funds, private equity, and venture capital. The majority (67.2%) agreed or strongly agreed that the next 18 months would be difficult for the industry.

But 61.9% said there will be more fund launches in the next 18 months than there were in the prior 18 months. Most of the women felt the fund environment would improve.

The researchers had expected a more tempered response, given the state of uncertainty in the economic environment and challenges within the financial services industry. “Women really see this as a viable business opportunity, particularly as more women continue to join the industry,” she said.

Read more

Business reviewBy Melissa J. Anderson (New York City)

In a ForbesWoman article earlier this month, Sylvia Ann Hewlett, founding president of the Center for Talent Innovation (formerly Center for Work-Life Policy), wrote that while there are 144 boards with no women in the Fortune 1000 and women make up only 15 percent of all Fortune 1000 directors, there is also some good news when it comes to the effort to achieve board parity.

The good news, Hewlett says, is that over 1,100 directors on Fortune 1000 boards are over 70 years old.

If we only wait just a bit longer, she suggests, soon qualified women can rush into the seats vacated by retiring males. She concludes:

“The time may finally be arriving for women to fulfill B.C. Forbes’ predication. As more women pry open the boardroom door and assume a seat at the table, they can not only serve as a powerful voice for change within each company but can proactively broaden the pipeline of female candidates to ensure that even more women advance.”

Hewlett’s message about being rigorously prepared to assume board service when elected is valuable. But her suggestion that women simply wait their turn to be chosen for board service when the old guys are out of the way is disappointing. Women have been waiting for decades to get to the top, and – as Catalyst data on the percentage of women making it into the boardroom shows – playing the waiting game isn’t getting women anywhere fast.

Read more