Take More (Calculated) Risks: Five Ways to Build Your Risk Instinct and Get Ahead

Attractive business womanBy Kate McClaskey (New York City)

At The Glass Hammer’s recent panel on women in IT, several of the women spoke on the importance of taking calculated risks in order to get to the next level career-wise. But many women have a problem “sticking their neck out” and taking that big assignment. Why? Is it related a physiological or body-chemistry factor? Or is it about cultural conditioning?

One one hand, a 2009 study revealed that women with more testosterone take more risks than women with less testosterone. Maybe that’s a sign that risk-taking is related to physiology – and Sheila Kolhatkar’s NY Magazine article “What if Women Ran Wall Street” references several studies in favor of a physiological basis for risk-taking behavior. On the other hand, as Kolhatkar writes:

“[no one] would argue that all men are aggressive, egotistical, and stubborn—or that all women are conservative, rational, and levelheaded. And being reductionist about hormones and gender is a sure way to misjudge a complicated individual.”

Acknowledging that there are other factors at play in risk taking skills (like cultural, workplace, or family influence) means we can seek out ways to become better risk takers – and reach new levels of success in our careers. Here are our top five ways to nurture your ability to take risks.

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From CIO to CEO: Beat the Odds and Make the Jump

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female CEOBy Elizabeth Harrin (London)

If I don’t have my BlackBerry I don’t feel properly dressed. Given that technology has such a big role to play in our business and personal lives, you would have thought that the Chief Information Officer (CIO) is a crucial lynchpin in any organisation. For the most part, CIO’s are seen as important people – but they are just not quite CEO material. The rest of the C-suite see them as slightly geeky and lacking the range of skills required to cut it at the very top. It’s rare for CIOs to make it out of the server room and into the chair at the head of the table.

Of course, there are some exceptions. Philip Clarke, CIO of Tesco, is taking over from Sir Terry Leahy when he retires next year. Of course, Clarke runs the international wing of the UK retailer as well as steering the technology division. It doesn’t look as if his new job title will start a sea change in CIOs becoming top dog. Will CIOs still sadly joke that the acronym stands for Career Is Over?

So why have so few CIOs made the leap to running a company – and how can they get there?

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Do Millennial Women Truly Have It All?

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genYoptimisticBy Tina Vasquez (Los Angeles)

It seems as if young working women not only feel as if they can have it all, but a shockingly high percentage reports that they do have it all. According to recent research by Accenture, young professional women ages 22-35 – otherwise known as “millennial women” – believe they will have rewarding careers in equal balance with fulfilling personal lives, despite a rough economy and corporate structures that are still lacking in their understanding of women’s dual obligations in the workplace and at home.

The Millennial Women Workplace Success Index marked the results of an online study taken by 1,000 millennial women currently employed full-time in the U.S. According to the index, 94 percent believe they will achieve a work/life balance and even more astonishing, almost half (46 percent) of the women surveyed believe their work life and personal life are in equal balance.

Accenture’s U.S. Human Capital and Diversity Managing Director Lamae Allen deJongh was extremely surprised by the index’s findings- as were many, but she does not believe that the statistics are the result of naiveté on behalf of young or inexperienced women. “I think the results speak to the high degree of confidence of millennial women,” deJongh said. “And because of their confidence, their work/life balance goals are realistic. Having a satisfying professional life and a gratifying personal life is important to them; it exemplifies the fact that they believe they can have it all.”

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Networking Your Way to the Boardroom

By Liz O’Donnell (Boston)Pretty business woman with colleagues discussing in the back

“More and more, I understand the differences between men and women in business today. Women are truly not making their skills known and therefore are not making themselves available for work positions.”

Tough love for women from Nancy Mellard, executive vice president and general counsel for the Employee Services Division of CBIZ and the national leader of CBIZ Women’s Advantage, a provider of business solutions including financial services and technology systems.

“It’s not just about going to a networking event; it’s about truly engaging people in your story,” says Mellard. “Attending a networking event is not enough. You must follow up after the event. Women must approach a networking event like they would approach closing a sale. Networking and telling your story are the two most critical tools for professional women today. The failure to effectively use these two tools is the gap in women on advisory boards. There are thousands of competent women who are not utilizing the correct tools to place themselves on these boards.”

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Top 10 Global Locations for Executive Women

World Sign 2by Marian Schembari (New York City)

We can’t think of anything better for a woman than travel. And as a professional woman, what better way to experience the world than to become an expat? The cultural experiences alone are enough to make us want to hop on the next plane to Amsterdam, but the added bonus of enhancing your résumé makes it even more tempting.

Sending employees abroad is becoming more common. A survey by ORC Worldwide shows that 56% of companies have increased their expat usage. But, as usual, it’s mostly men who are jumping on this particular bandwagon. Catalyst research points out that only 13% of Americans managers who are sent abroad are women, despite representing 49% of professionals. However, women are more likely than men to accept a position abroad as 80% agree to relocation compared to only 71% of men.

But where to go? Here are the top 10 global locations for executive women, listed in no particular order:

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The “Mommy Penalty” in the Legal Profession

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mombaby.jpgby Anna T. Collins, Esquire (Portland, Maine)

Laura Allen* had been working at a law firm in the U.S. for three years. She had always gotten excellent reviews, regular bonuses and raises, and was respected by her peers. Then, her entire legal career was stopped short. “When I had my daughter,” Laura explains “my employer began treating me differently—reassigning the bigger cases to other attorneys, cutting my raises and bonuses short and scrutinizing my absences from work.”

A new study by Neil H. Buchanan at George Washington University Law School may offer insight to Laura, as well as other women experiencing what Buchanan calls the “mommy penalty”. Using survey responses from University of Michigan Law School graduates, Buchanan found that mothers earn less than non-mothers. In fact, the study showed that fathers tend to receive a “daddy bonus” in the form of higher salaries when they have a child.

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Women as Leaders

womenladder.jpgby Caroline Shannon (Dayton, Ohio)

Sharon Vosmek was busy planning an exit strategy when the CEO decided to resign from the company Vosmek had been working at as second in command for about three years. She was positive the company, Astia, would seek an external candidate, and then that person would bring in his or her own team. It never occurred to her that, perhaps, she could be a viable candidate for the position; that is, until the Astia community convinced her otherwise.

“I finally threw my hat in the ring for the position after the very loud and consistent support of others,” said Vosmek, who is now the CEO of Astia. “To this day I am surprised by my own lack of understanding that I had the very skills required to succeed as the CEO of Astia.”

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Networking for Introverts

iStock_000005478304XSmall_1_.jpgby Liz O’Donnell (Boston)

According to the U.S. Bureau of Labor Statistics, 70 percent of all jobs are found through networking. Hank Blank, owner of virtual marketing agency, Hank Blank Inc., believes the benefits of networking go well beyond finding a job. “Networking increases your revenue stream, improves your social currency and makes you smarter,” says Blank. With that kind of return, it would be foolish not to add networking to your professional skill set.

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Next Level: An Interview with Rebecca Shambaugh, Founder of Women in Leadership and Learning

rebecca_shambaugh_.JPGby Heather Cassell (San Francisco)

Women hold the key to their own success, according to Rebecca Shambaugh, president and CEO of Shambaugh Leadership and founder of Women in Leadership and Learning, an organization dedicated to the advancement and retention of women leaders. Getting to the next level in the workplace, she says, requires more than mere professionalism; it requires leadership.

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WITI’s Wisdom

by Meg Shannon (New York City)

Women make up an increasing percent of consumers for technology. Companies designing and selling these products would be well-served to employ professionals who can think like their buyers, say some organizations.

The mission of Women in Technology International—WITI—is to “level the playing field for women and open up opportunities through a global connection of professional, tech savvy women committed to mutual support,” according to Carolyn Leighton, WITI chairman and founder.

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