Being Out at Work: Challenges and Benefits

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Business meeting“I learned the importance of sponsorship along the way,” said Lisa Davis, Director and Global Product Manager at Citi Global Transaction Services. “And I didn’t realize what a sponsor was until I didn’t have one.”

She recalled a year when she didn’t get a promotion she was expecting. “I had the whole package – on paper – but when I asked why I wasn’t promoted, my manager said, ‘well, nobody knows you.’”

Davis was speaking at The Glass Hammer’s recent event for lesbian professionals on “being out at work.” Moderated by Jill Schlesinger, Editor-at-Large of CBSMoneyWatch.com, the panelists included Jennifer Barbetta, Managing Director and Chief Operating Officer, Alternative Investments & Manager Selection, Goldman Sachs; Lisa Davis, Director and Global Product Manager, Citi Global Transaction Services; Lee A. Merkle-Raymond, Strategic Solutions Executive, Bank of America Merrill Lynch; and Marion Regnier, Senior Associate, PwC. They discussed issues like coming out at work, the importance of sponsors and networking, and the value of top-level support for LGBT issues.

Davis, who is co-chair of Citi’s Metro NYC Pride network, said she spent the following year making sure everyone knew who she was.

Sponsorship and Networking

“A sponsor is someone who says, ‘I’m going to vouch for this person,’” Davis explained.

Merkle-Raymond continued, “As a sponsor, you have to put yourself on the line and it comes back to your own credibility.” If the person you vouched for fails, she explained, that makes you look bad too. So, she continued, if you’re seeking a sponsor, make sure you have the skills to follow through on your responsibilities. “It means building up your own credibility so that people want to sponsor you.”

Regnier said she has met sponsors by strengthening relationships with people she has worked with internally and externally. “I’ve found sponsors in different ways – by leveraging the networking relationships that I have outside the firm, and in the firm, leveraging relationships I have with the people I’ve worked with.”

“I’ve never sought out LGBT sponsors specifically,” interjected Barbetta. “But LGBT networking can only be additive to your career development. And as you get more senior, the network of relationships you build becomes increasingly important. Having those relationships enables me to draw upon the expertise of other people in the firm – to know who to call when a new challenge or opportunity arises.”

Merkle-Raymond agreed. “BAML has a significant number of networks. And, for me, they have been critical if I end up with a problem and need to know how to solve it.”

Davis added, “Affinity networks are absolutely important and key for the business. Especially in the financial services industry.”

Coming Out

Schlesinger asked the panelists to discuss how they came out at work. Regnier began, “For me, it was a decision. At my previous firm, I was in the closet for two years, and I kind of felt like I was lying, or just avoiding the truth. When I joined PwC, they had a great event on National Coming Out Day and I was like, ‘Wow – all of these senior people are out. What am I afraid of?’”

She continued, “Counting people who knew and didn’t know and keeping a list takes a lot of energy.”

Barbetta agreed. “Work is stressful enough. To expend any energy or effort on hiding who you are – at some point for me, it just wasn’t worth it.” She said she gradually came out to colleagues. “When I first joined the firm, I never lied about who I was, but I just sort of withheld information about my personal life. It was a process that took time. I think for me it was about becoming more comfortable with myself, becoming more confident and mature.”

Davis said she never had an actual “coming out” event either. “When we had events, I just thought it would be okay if I showed up with my partner. I never had the notion that I needed to be strategic about it. If people found out, they found out.”

Merkle-Raymond said she had been out since starting her career. She was initially warned against it, but, in fact, being out actually provided her a boost. “I came to orientation with a pink triangle pin on my lapel, and my senior manager said, ‘You’re never going to get promoted if you tell people you’re out.’ And I said, ‘What about the five other guys who are out in our group?’”

She decided to come out at work anyway. And in fact, she continued, working on a task force to secure partner benefits at the bank in the ‘90s enabled her to meet senior executives she never would have had access to. “I was even asked to drive our CEO to the airport as a junior person,” she recalled, explaining how she discussed LGBT issues with him in the car.

Working in a Supportive Culture

“Support in the financial services for LGBT is astounding – we have come so far,” said Schlesinger. “A long way since having my bra snapped on the floor of the Commodities Exchange of New York [COMEX],” added the former trader with a laugh.

For an example of meaningful support, Barbetta pointed to the new HRC television ad featuring Goldman Sachs CEO Lloyd Blankfein declaring his support for marriage equality. “It’s fantastic that he’s doing that and putting himself out there on a personal level.”

Barbetta also mentioned the importance of straight allies for building a culture of inclusion. “The Ally Program has had a huge impact. We started inviting straight allies to join the network, and now there are gay members and straight members and you don’t know who’s LGBT or who’s an Ally, which is the entire goal of this – that it shouldn’t matter – no one cares who’s straight or who’s gay.”

She added, “From the diversity office, Lloyd himself, and various other senior members at the Firm, the support has been amazing.”

By Melissa J. Anderson (New York City)

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Passion and Leadership: Looking Ahead to 2012

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iStock_000001586116XSmallBy Melissa J. Anderson (New York City)

This year on The Glass Hammer, a topic we’ve discussed frequently is passion – why uncovering your true passion about your work can help advance your career and can make you happier. The value of passion really comes down to being “authentic” – when you’re doing what you truly love, it shows, and helps influence others to follow you or pull you forward.

In his new book Getting Ahead: Three Steps to Take Your Career to the Next Level, Joel A. Garfinkle explains why passion is so important for leaders – it’s a lot easier to get other people to follow you when they believe in you, than when they don’t. He writes:

“Be passionate and excited by your objectives, and share this excitement with others. This kind of enthusiasm propels people toward your point of view and prompts them to connect emotionally with your passion.

“Besides passion, you also need to display confidence. Even if others doubt your ideas, they embrace them because they trust your confidence.

Enthusiasm and confidence are two qualities that stem from passion, but there’s a lot more to it than that. According to a recent study, the wrong kind of passion can stand in your way, while the right kind can propel you forward. How can you manage your own passion and use it to gain more ground in 2012?

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Our Research Shows Women in Technology are Eager to Advance

WITfrontpage.tiffBy Melissa J. Anderson (New York City)

The Glass Hammer is pleased to announce the publication of our first ever research paper, “Women in IT: Ambition and Advancement,” produced in conjunction with our sister site Evolved Employer. We polled readers who work on technology teams to find out how they feel about the next level. And not surprisingly, the vast majority of our respondents were actively planning to move to the next phase of their careers.

In fact, four out of five respondents (80.23%) agreed or strongly agreed that promotion is a top priority for them.

But what may surprise you is how fast they plan on moving ahead. Almost half (41.86%) said they intend to change jobs in the next year!

The study also revealed that while these women had big plans for advancement, many of seemed uncertain about the nuts and bolts on how to get there.

Nicki Gilmour, Founder and CEO of The Glass Hammer, explained, “There are many moving parts when it comes to advancement, and it would be prudent for companies who want to best manage female talent in technology to ensure that programs are visible and appropriate to truly serve the purpose of creating opportunities for under-represented groups.”

To download a copy today, click here.

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Happy Thanksgiving!

Pumpkins in the autumnBy Melissa J. Anderson (New York City)

Today The Glass Hammer is taking time to celebrate the things we’re thankful for. Our new office, a packed slate of fab events in the next few months (more info coming soon…), and even the slightly unseasonably warm weather here in New York (cheers for sweater weather!) are some of our reasons for giving thanks.

Another thing we’re grateful for is you, our audience – a bold group of women (and a few men) working diligently to help break the glass ceiling. If you’ve got some extra time this week, take a look at a few of our recent profiles on women we’d like to emulate.

We also decided to designate November as a month to discuss why and how women can be better negotiators. Are you ready to ask for a raise or promotion, time off, or a new budget for your team? Read through our guide and prepare yourself today.

Finally, we’re always looking for inspiring, effective, dynamic women to profile on The Glass Hammer – if you know someone you’d like to nominate as a Voice of Experience, a Mover and Shaker, or a Rising Star, email melissa@theglasshammer.com. And if you’ve got a great story to share about how you managed to test your own physical or emotional limits, you might be perfect for our Intrepid Woman series.

Last Thanksgiving, we encouraged you to give thanks to those mentors who have helped you get ahead in your career. This year, in addition to those individuals who have been your shoulder to lean on, your sounding board, or your sponsor, don’t forget to thank those direct reports and assistants who’ve helped support you as well.

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National Women’s Law Center’s 2011 Awards Dinner

Female executive at work with colleaguesBy Elisabeth Grant (Washington, D.C.)

On Wednesday, November 9, 2011, the National Women’s Law Center (NWLC) welcomed over 2,000 attendees to its 2011 Awards Dinner. The event featured President Obama as the keynote speaker, paid special tribute to the women Freedom Riders, and raised over a million and a half dollars to continue the National Women’s Law Center’s mission to “advance and protect women’s equality and opportunity.”

The events of the evening spanned the past and the present. What has been accomplished, and what’s still left to do. Many remarked upon a renewed sense of optimism after hearing President Obama’s words: “That next generation of smart, powerful women? They’re already knocking on the door. They’re coming, and we need to get ready.”

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Developing Your Personal Work-Life Balance

Young Businesswoman Pointing at Camera - IsolatedBy Isabel Eva Bohrer (Madrid)

In her book The See-saw: 100 Ideas for Work-Life Balance, Julia Hobsbawn speaks from experience. As a working mother with five young children and a young business, Hobsbawn had spent had spent a long time working extremely hard on finding her priorities and her own work-life balance. “I realized that the metaphor I came back to in my mind was one of a see-saw, constantly having ups and downs,” she recalls. “And I couldn’t find a book which expressed in the words of women like me but also some men, what this time feels like, in which we have everything but are also so overloaded we often feel empty of power or opportunity,” she adds.

The result is a practical, upbeat book that addresses a critical issue in today’s society. While some people still refer to it as “work-life balance,” others have begun using phrases like “work-life effectiveness” and “work life fit.” New York University sociologist Dalton Conley has coined a further term called the “weisure” principle, which underlines the blurring of the line between work and leisure. According to Conley, the 24-7 life of “weisure” is the next step in the evolving work-life culture.

Regardless of the terminology, however, what remains true is that work-life issues are a challenge for many people, men and women alike. As Hobsbawn notes, “what matters in the end is not the language – it is the meaning of our actions.” She herself prefers words like “efficiency” and “fitness” because they describe a positive work-life balance. But how exactly do we achieve a successful work-life balance?

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Empowering Women by Investing in Education

Student at WorkBy Melissa J. Anderson (New York City)

Yesterday, the Foundation for Social Change and the UN Office for Partnerships kicked off the second annual Global Conference for Social Change with a Women and Girls Education Summit. The Summit featured several programs across the world for educating and empowering females.

Louise Guide, Founder and CEO of the Foundation for Social Change, explained, “The idea is about driving social progress through education for women and girls.”

Guido explained that by educating disadvantaged girls and women, organizations can empower entire communities – that when you educate women, you create a multiplier effect, whereby knowledge and skills are reinvested in families and neighborhoods.

The Foundation recently launched its own initiative, eLife, an education program for girls in Columbia. It is also partnering with Nokia to launch three new mobile applications for women in developing regions: Smart Women (for business owners), Parenting Skills, and Job Training.

Amir Dossal, Founder and Chairman of the UN Global Partnerships Forum said, “Innovation only comes when you work together. You can have great ideas but you can’t implement them unless you partner with someone.”

The conference highlighted the partnerships between nonprofit organizations and corporations to empower communities by investing in girls and women.

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Five Secrets to Successful Rainmaking

By Melissa J. Anderson (New York City)

Last week, the National Association for Female Executives (NAFE) and Flex-Time Lawyers honored the fifty best law firms for female lawyers. And while the competition was fierce, according to Deborah Epstein Henry, Founder and President, Flex-Time Lawyers and author of Law & Reorder, the legal profession still has a lot more work to do.

She said, “Our data has shown that the partnership structure has an impact on women’s success in terms of how senior they get in law firms. In firms with a one-tier structure – with just an equity partnership track – women were promoted at higher rates. The trend is moving away from the one-tier structure, and this is negatively impacting women.”

But it’s not all bad news, Henry continued. Firms are recognizing the value of flex and technology. “There is an increased recognition of the ability to work differently and use technology without negatively impacting the bottom line.”

Yet, she continued, while the policies are in place, the firm-wide culture may not fully support flex. “When you look at the usage rates, the proof is in the pudding about whether the policy is viable. A tremendous stigma still surrounds working flexibly or on a reduced hours schedule. The policies have to be gender neutral and reason-neutral, and not just about child-care.”

With a mixed environment for women in the legal profession, women need to be sure they are performing their best to get to the top, she said, and one way to do that is to bring in new clients. Henry continued, “Rainmaking is so important. It is your measure of how you will be compensated and how powerful you will be.”

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Professional Women are Key to Development in Emerging Markets

iStock_000017499097XSmallBy Melissa J. Anderson (New York City)

Last week the World Bank released its latest research on women in developing countries. The report “The World Development Report 2012: Gender Equality and Development,” revealed that while gender equality is making progress across the globe, there are still many gaps.

And while gender equality in itself is a core objective of the organization, it is also important because of the economic growth and stability that gender equality facilitates. In his forward to the report, World Bank President Robert Zoellick explains, “But greater gender equality is also smart economics, enhancing productivity and improving other development outcomes, including prospects for the next generation and for the quality of societal policies and institutions.”

The study raises important questions about the world’s women – like “why are there 3.9 million excess female deaths each year?” and it points out that women earn less than men everywhere. But it is important to remember that all women in developing areas are not victims.

Research by the Center for Work-Life Policy on women in emerging markets points out that while many women in developing countries must contend with tremendous challenges, there are also many women in these regions who are powerful and ambitious – even more ambitious, the organization says, than their western counterparts.

CWLP Founder and President Sylvia Ann Hewlett remarked last week at an event at the New York Stock Exchange, “The dominant narrative for many years has been a narrative of victimhood. But it is not the only narrative. There is also a tremendous narrative of empowerment and success.”

These women are not victims of poverty or exploitation – and in fact, they may be one part of the solution to the abuses that many women in these areas face. When women are viewed as key economic drivers, explain both the World Bank and the CWLP, they get more rights and have a better standard of living. The countries in which they live and work get an economic boost as well.  After all, more high performing talent means more productivity.

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Cracking the UK’s £15 Billion Glass Ceiling

iStock_000017129414XSmallBy Melissa J. Anderson (New York City)

A recent report out of the UK’s Equality and Human Rights Commission has revealed that at the current rate of advancement, it will take 70 years before gender parity is reached in the boardrooms of the FTSE 100 – and that’s just parity by numbers. It doesn’t even measure the rate of advancement when it comes to pay, power, or responsibilities.

The report, Sex and Power 2011, analyzed the UK’s top 26,000 positions across business, government, media, the arts, and the public sector. According to the Commission, there are about 5,400 ‘missing’ women from influential positions in Britain.

This amounts to “the squandering of talent,” says the report. It continues, “We are losing out on what women can contribute, with the Women and Work Commission estimating that unlocking women’s talent in the workplace could be worth £15 billion or more.”

This glass ceiling is an expensive one – and the report provides a few key reasons it’s still in place. Here’s why.

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