iStock_000014169834XSmallBy Stephanie Wilcox (Middlefield, CT)

“Women are the original prototype of a network,” said Susan RoAne, an influential networking and business communication expert and author of The Secrets of Savvy Networking. “They helped each other through famine and harsh times. They got together on the farm or in quilting groups, which were the first examples of historic networking groups, and they would quietly quilt and talk.”

Whether it’s over a quilt, lunch or the telephone, women still need their networks, including personal advisory boards and small strategic networking groups, and RoAne shares why they are so beneficial and how to build them.

“There is no question, you have to have personal networks,” said RoAne. “It’s necessary to have people whose feedback and opinions you respect and trust, and the feedback and opinions have to be entirely based on a person’s complete commitment to you, your success, happiness and joy.”

You need a group of three, four or five real friends who will form your personal advisory board to help with advice, career decisions and family/personal matters. Ideally, to have a diverse network, these people will be a mix of ages and will be smart, savvy, informed and experienced. Of course, these relationships will need to be built, but it won’t happen overnight. According to RoAne, it’s best to include people in your personal advisory board who you think have a good head on their shoulders. And do not include people who you don’t think are smart. “There are different kinds of smart,” she said. “Someone with a good grasp on the subject at hand or even someone with a good BS detector. That’s what smart CEOs do when building a team; they find people who balance them out.”

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Brunett woman with laptopBy Cleo Thompson, founder of The Gender Blog

“I haven’t got time for networking”, one senior woman from a major City of London investment bank told me recently.

“All that standing around in rooms full of complete strangers, drinking either bad wine at the end of a long day, or bad coffee and stale croissants at the start of another day – no thanks. It’s so unstructured and unfocused, and such a bad use of my time. I’m sure there probably ARE useful and interesting people at some of these events – but how on earth do you find them in a packed room, and what use might we be to each other?”

Other women told a similar tale, with one commenting that she had now stopped going along to organised “group meet ups”, as she found that she either knew no-one, or would see a familiar face in the crowd and then “cling to that person for the whole evening, thus negating the idea of meeting new people!”

In response to this changing mindset – and independently of each other – two London based women have begun to evolve a more nuanced, “networking 2.0” framework, which delivers the benefits of what we might perhaps call “old school” networking – expanding your contacts, sharing connections and skills – but which also uses technology and social media interfaces.

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Business concepts-Hurray good job, closeupBy Cleo Thompson (London), founder of The Gender Blog

Women’s networks – are they still relevant in 2010? This has been a question posed of late by a number of commentators, who suggest that encouraging women to group together, network and share ideas and experiences is counterproductive to 21st century business life, creating silos and serving as a space for women to complain about the status quo.

Last week in London saw the Credit Suisse sponsored thirtieth birthday party and annual awards lunch of one of the UK’s oldest and most established women’s networking groups, Women in Banking and Finance (WIBF). Created by five women in 1980, and sponsored by the then Deputy Chairman of NatWest Bank, WIBF now has a membership of over 800 individuals and provides a forum for woman (and at the lunch, quite a few men) to meet, learn new skills, share experiences and best practices, make useful contacts and to fulfil their individual potential. In addition to the annual awards lunch, WIBF (also part of wider global network the International Alliance for Women) runs a regular programme of training and networking events with a focus on personal and professional development.

The WIBF awards began in 1997 and celebrates three women each year for their outstanding personal and professional achievements in the traditionally male financial services sector. And last week, the Dorchester hotel in central London played host to a roomful of around 250 WIBF members, all doing anything BUT complaining – in fact, the amount of networking and generous sharing of ideas and contacts would have put the membership of the average golf club to shame.

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Nicki HeadshotBy Nicki Gilmour, Founder and CEO of theglasshammer.com

We know that boards have not been historically women-friendly and the numbers of women on corporate boards are still incredibility low despite the strong correlation between diversity of thought and company performance. Specifically, when there is a critical mass of women board members (which is quoted as 3 female seats at the table) a tipping point is created for a successful attempt at inclusion with the desired benefit of breaking groupthink.

Many senior women have made it to the top of their department, and even make it into the executive management team. But they find themselves at a loss because they just haven’t built the network they need to take them from being a respected professional to recognized expert to a formal director of a company on a corporate board.

“No women can be chosen for a job, promotion, a nomination for public office, a seat on a board of directors, a slot in a training program unless women are in the pool of finalists” states Linda Tarr-Whelan in her book Women lead the Way.

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networking groupsBy Melissa J. Anderson (New York City)

On Tuesday, the Forté Foundation brought together movers and shakers from New York’s top companies as part of its 2010 Network of Women’s Networks conference. The theme of the conference was Driving Change through Innovation – and as speaker Kerrie Peraino, Chief Diversity Officer of American Express explained in opening remarks, “Far from being the buzz words of this millennium, change and innovation, they are actually a call to action.”

Attendees were asked to focus not only on how change and innovation come to fruition within an organization, but how they themselves are change agents. And of course, because of the emphasis on networks, women were encouraged to build relationships and make new connections with other conference attendees.

Networking for Innovation

Kicking off the day with a speed-networking session, Amy Orlav, Professional Development Specialist at the Graduate Management Admission Council ®, joked, “What is the best part of any conference? Don’t say the food.” She answered, “it’s the networking!”

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networking_with_menBy Melissa J. Anderson (New York City)

I’ve never been fond of the imagery associated with the phrase “hunting and gathering,” conjuring up visions of big cavemen-types hurling spears at bison, while their female companions gingerly pick berries nearby. In fact, research has shown that this is often a bit more of a stereotype than a hard-wired reality. For example, a study of the Philippine Agta culture showed that women hunters regularly outperform their male counterparts – and mixed-sex groups do best of all: “Their rates are even better when they combine forces with men: mixed hunting groups have a full 41% success rate among the Agta.”

Why the scholarly introduction, you ask?

It seems that a similar division of the sexes is taking place in the business arena as well – even if it is within the bounds of the corporate auditorium, the conference room, the multi-purpose area. The line of discussion says that one reason women still lag behind in corporate leadership positions is because their networking style is simply different then men’s – preferring to seek out deeper professional connections than embarking on the broader approach associated with men: collecting casual acquaintances and leveraging them when the need arises. Women are hunting for a few deep, professional connections, rather than gathering many casual ones.

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networkingBy Jessica Titlebaum (Chicago)

There has been a noticeable change in the way women help other women in the workforce.

“In the past 10 years, I have seen a huge push among senior level women who are passionate about mentoring,” said Jo Miller, Founder of Women’s Leadership Coaching “to help emerging women leaders gain access to networks, role models and opportunities.”

Miller offers seminars, coaching programs and webinars that are designed for businesswomen to create roadmaps into leadership positions. She launched a webinar series as a cost-effective solution for career advancement and advice. Divided into two categories to meet the needs of emerging and executive leaders, the webinars feature speakers who have broken through the glass ceiling and want to share their experiences with other like-minded women.

Miller also speaks at seminars and workshops regarding career advancement for women. Topics include winning at the game of office politics, creating your own brand as an emerging leader and becoming a person of influence.

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chicagoBy Jessica Titlebaum (Chicago)

For all the progress women have made in the workplace, the numbers just aren’t showing it. One Chicago group is shaking its head at the statistics and looking at ways to increase the amount of women on corporate boards.

The Chicago Network, an organization dedicated to connecting and promoting high-profile women, has published an annual Census for the past 12 years. Taking a look at the top 50 publicly reported companies in the Chicagoland area, from Fortune 500 and Crain’s Chicago Business, the group determined that in 2009, growth had slowed for women climbing the corporate ladder.

“Roughly 15% of board seats are filled by women in the top 50 publicly reported companies in Chicago,” said Cheryl Francis, the Chair of The Chicago Network. “When we first started publishing the Census, women filled 10% of board seats but there has been very little movement since 2003.”

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By Elizabeth Harrin (London)Group Disscussion

“About 30 years worth of effort has gone into promoting more women into senior leadership,” says Avivah Wittenberg-Cox. “We have to stop bringing groups of women together to talk about what we know is going wrong.”

Traditionally, women’s networks have been the ‘answer’ to the issue of getting more women into senior positions. Networks provide the opportunity to, well, network, and to meet and listen to senior women who then become role models. After all, if your after-dinner speaker made it to the top, why can’t you? But according to the women on the podium at a recent event hosted by Morgan Stanley, women’s networks are an outdated concept that do more harm than good.

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By Marian Schembari (New York City)

The great thing about being a woman in a man’s world is that it brings us closer together. The glass ceiling is difficult and annoying, but women in finance are so scarce that the connections made with each other are usually strong and supportive.

This is why we at The Glass Hammer have put together a list of great associations specifically designed for the ever-so-inspiring women who have taken on the financial world. Some with chapters around the world, others entirely based on the web, we give you (in no particular order) the top 10 networks for women in finance:

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