iStock_000006952019XSmallBy Hadley Catalano

Women in leadership positions are now managing multiple generations of employees, sometimes with as much as a 50-year age gap. Generally speaking, the scenario isn’t entirely new: seasoned employees with years of experience have often worked alongside fresh, inexperienced hires. What is historic; however, is that in the last 10 years, the workplace has grown to include four generations of employees: Traditionalists (1922-1945), Baby Boomers (1946-1964), Generation X (1965-1981), and Generation Y, also known as Millennials (1982-2000).

This historic moment can be attributed to an aging labor force. Once, the golden age of retirement was between the ages of 60 and 65. Today, people are working well into their 70’s. Why? Sometimes the answer is as simple as “because they can,” though the Bureau of Labor Statistics (BLS) reports that more often than not it’s a matter of requiring more than a fixed income in an unsteady economy, one rife with slashed retirement packages and to guarantee postretirement income.

This growing trend of multigenerational workplaces has been well documented by the BLS, as employees stay on well past retirement age and Gen Y workers set to outnumber Boomers and Gen X workers by 2015. But what does it mean for women who must lead multigenerational teams?

Talking ‘Bout My Generation
For directors, the expansion of their work teams has presented complex administrative challenges. According to a recent survey conducted by EY, a global leader in assurance, tax, transaction, and advisory services, three-quarters of the 1,215 cross-company professionals surveyed agreed that managing multigenerational teams is complicated. What makes it easier, however, is understanding the differences among your multi-generational employees.

Experienced executives, Jennifer Mackin, President and CEO of The Oliver Group, a leadership consulting firm, and Peg Newman, Managing Partner of Sanford Rose Associates, have observed generational characteristics and motivators.

According to Mackin, generational commonalities – based on age, cultural backgrounds, goals, influences, and behaviors – are rooted in inherited traits and environmental conditions.

“Some (generations) went through The Depression or more difficult financial times and others grew up in more affluent time,” Mackin said. “Traditionalists and Baby Boomers didn’t grow up with technology but learned that hard work always pays off and you get ahead by putting in the effort. Gen Xers and Millennials have their basic needs met and always have, in general. They are more interested in a comfortable way of life and, therefore, choose other priorities such as flexibility in their work and time for other parts of their life outside of work.”

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iStock_000006492382XSmallBy Mai Browne

The past two decades have seen notable progress for women in corporate America, as most forms of overt gender discrimination have been eliminated and many companies have invested in women’s advancement initiatives and organizational change programs. So why is it that the dial has barely moved for women at the highest ranks of business?

Last year’s “Fortune 500 Women Executive Officers and Top Earners” report by Catalyst revealed that women held only 16.6 percent of corporate board seats in 2012—the seventh straight year of no growth. It was also reported that women held 14.3 percent of executive officer positions for the third year in a row.

The gender gap in leadership is a major concern, not only for women who aspire to leadership, but also for companies that need strong, diverse leadership teams to help them compete successfully in a marketplace that is increasingly female, global, and volatile.

Why does the gender gap in leadership persist? The answer is complicated, but one piece of the puzzle is second-generation gender bias. This is quite different from first-generation gender bias, which is characterized by intentional acts of bias. Second-generation gender bias was examined in the recent Harvard Business Review article “Women Rising: The Unseen Barriers,” written by Robin Ely, Herminia Ibarra, and Deborah Kolb. The authors describe second-generation bias as “cultural assumptions and organizational structures and practices that inadvertently benefit men while putting women at a disadvantage.” These dynamics can go far in shaping formal systems, including promotion practices and compensation practices.

Double Binds
Second-generation gender bias reveals itself when women leaders find themselves in “double binds” because many characteristics associated with leadership are linked with masculinity. Words like “strong,” “assertive,” and “decisive,” the authors write, tend to engender confidence from colleagues when these attributes are associated with men. Women who display these attributes, however, are often seen as unlikeable or bossy. It should come as no surprise that the workplace prefers women to be empathetic, caretaking, and unselfish, yet women who demonstrate these “nice” qualities are liked and not respected. They are regarded as too soft to be a strong leader. It’s a no-win situation.

Another example of this particular form of bias is women’s lack of access to influential networks and sponsors. As we well know, informal networks are crucial for aspiring leaders, but as the authors note, “the differences in men’s and women’s organizational positions, and the tendency for each to network with others of the same gender, leads to women building weaker networks than men — and having less access to mentors and sponsors who have the ability to help them get promoted.”

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Young business woman in a office environment.By Michelle Hendelman

At the recent Women’s Forum Global Meeting in Deauville, France, the percentage of women on European boards was an important topic of conversation among the 30+ CEOs gathered at the annual conference. Now in its 8th year, this forum brings together CEOs from across the globe to have a candid discussion about the issues surrounding women’s career advancement.

In conjunction with the forum, EY (formerly Ernst & Young) presented what they believe to be five critical factors to influence change in the boardroom as featured in their report, “Time for Change: Recruiting for Europe’s Boards.”

“Our research suggests that European boards lack diversity as they are locked into a small pool of talent and are constrained by the fundamental requirements for board positions. Recruitment processes used to fill Europe’s boardrooms need to change to broaden the base of experience and skills on company boards,” says Julie Teigland, EY’s EMEIA Accounts Leader.

This begs the question whether or not CEOs and corporate boards are genuinely concerned with increasing the number of women because of the well-documented business benefits or if these efforts are geared toward fulfilling increasingly stringent mandates from The European Commission.

While some countries like Norway have already imposed gender quotas for corporate boards, The European Commission is pushing that four out of every ten non-executive directors of large publicly listed companies in Europe be female by 2020. However, each European country affected by these mandates is progressing at different rates as acceptance levels of women in senior level positions are certainly not uniform. Finland, for example, reported in 2012 that women comprise 22 percent of listed companies’ board members, whereas Italy, France, and the UK have experienced slightly less progress.

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iStock_000017439589XSmallBy Hadley Catalano (Boston)

For women who identify as introverts, the workplace can seem like they are living on the outskirts of the enthusiastic, chatty, sociable town, where charisma, assertion, and out-going personalities win popularity and approval.

How can introverted women – the analytical thinkers and quiet influencers – make sure their voice is heard within the office bubble of loud group brainstorming meetings, self-promoting mentality, and social networking gatherings?

Introverted Dynamics at Work

The first step in learning how to use introverted characteristics to your advantage at work is to understand exactly what introversion is, versus the common perceptions of introverts.

According to Marti Olsen Laney, Psy.D., psychotherapist and author of The Introvert Advantage (How to Thrive in an Extrovert World), temperament has a genetic basis. She describes in her book that psychologist Carl Jung (who helped popularize the terms extravert and introvert in the 1920s based on his human personality theories), “believed that diversity along the introversion and extroversion continuum had evolutionary advantages because there was balance among types of personalities.”

Introverts are, and would typically self-identify, as: quiet; reflective; content and gather strength in aloneness; richly imaginative; have a select number of close friendships/relationships; feel tired and drained after social activity (despite enjoyment) need alone time to recharge; are good listeners, think before speaking or acting; and are outwardly calm and contained.

The trouble that some introverts face at work is figuring out how to successfully incorporate their natural characteristics and personality strengths in work environments that seem to favor the more vocal extroverted individuals. This is what Susan Cain, author of Quiet: The Power of Introverts in a World That Can’t Stop Talking, refers to as the “extrovert ideal.”

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iStock_000017490863XSmallBy Hadley Catalano (Boston)

It’s a balancing act for women in leadership positions. Cautiously steadying the professional tightrope between exhibiting likeable behaviors and leading effectively.

According to Marianne Cooper, sociologist at the Clayman Institute for Gender Research at Stanford University and lead researcher for Sheryl Sandberg’s book Lean In: Women, Work, and the Will to Lead, this is the double bind.

She explained, “When in positions of leadership women are expected to be decisive and forceful, assertive and confident, but because they are women, are also expected to be nice, friendly, and supportive.”

So how are women maintaining equilibrium between the expectations of acceptable personality and successful managerial actions? Are top-female execs choosing between being liked and being respected in order to maintain their post at the helm?

Childhood Theories

The convention of the “labyrinth” – the term social psychologist, Alice Eagly, uses to define obstacles that women face en-route to the top– was first constructed in early in childhood. Parents, elders, and schoolteachers introduced both boys and girls to their first expected gender roles, stereotypes that have guided our society for generations. Particularly for women, this was when the tightrope was first pulled taut – defining the line of acceptable, appropriate feminine behavior.

“Women get that idea at a young age when they are reprimanded for ‘crossing the line,’ like when a girl is outspoken or aggressive she is called ‘bossy’,” Cooper said. “Today women are keenly aware that people react negatively to them when they are highly competent and assertive.”

Cooper added, “If a woman acts competitively, if she demonstrates decisive and forceful leadership, she is deviating from the social script that dictates how she ‘should’ behave,” She explained, noting that women face an even steeper bias in male-dominated industries.

So how are women working through the stereotypical character profiling and finding tactical balance to lead effectively?

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iStock_000014186302XSmallBy Tina Vasquez (Los Angeles)

The New York Times recently highlighted Harvard Business School’s (HBS) attempt to create gender parity in the classroom, changing a culture considered to be the breeding ground for corporate leaders globally.

When Harvard’s first female president, Drew Gilpin Faust, appointed the new dean, Nitin Nohria, the dean vowed to do more than his predecessors when it came to remaking gender relations at the school.

HBS’ approach was radical, changing how students spoke, studied, and socialized. The transformation also went deep, with administrators installing stenographers in the classroom to guard against biased grading and providing private coaching for untenured female professors.

Clearly, HBS’ makeover doesn’t mean it is now – or will be – perfect. The school’s gender makeover has resulted in a number of unintended consequences and issues. For example, the grade gap disappeared so quickly, it’s unclear what its true source was. Also, there are demands for more women on the faculty, which is a request deans are struggling to fulfill. There has also been pushback, mostly from young men who believe the makeover to be “intrusive social engineering.”

It wasn’t until August of 1962 that Harvard Business School accepted its first female students and in the fifty-one-years since, women have made considerable gains in academia. Today, three women earn a college degree for every two men and women are earning more graduate degrees than men. Admittedly, Harvard has been a hotbed for progress: the school’s current 900-plus first-year students are 40 percent women – HBS’ highest percentage ever. HBS’ student body is also far more diverse than it was 50 years ago, not just in gender, but in race, ethnicity, social class, and nationality. HBS also recently admitted its first transgender student.

In finance, however, women and minorities have made very little progress, though Harvard seems unafraid of tackling these difficult topics. A recent conference at HBS entitled “Gender and Work: Challenging Conventional Wisdom,” addressed the on-the-ground reality of women leaders 50 years after the first women were admitted to the School’s two-year MBA Program.

Harvard has been more than forthcoming in detailing the many ways the school was failing to retain female students, but how challenging was the atmosphere for female students before the makeover and what do female grads think of the school’s effort to foster female success?

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iStock_000017184684XSmallBy Melissa J. Anderson (New York City)

How do hiring managers choose candidates for jobs at top firms? According to Northwestern University research, it’s all about personality.

Based on analysis of the hiring practices of elite professional services firms, Lauren A. Rivera, Assistant Professor of Management and Organizations at Northwestern’s Kellogg School of Management, found that interviewers give far more weight to “fit” than they do to technical skills or academic achievements. After all, hiring managers reason, most Wall Street firms accept entry-level applications mainly from graduating students of Ivy League universities. For the most part, even being able to apply to these top jobs implies a baseline level of competence, and whatever they don’t know, they’ll pick up through a comprehensive analyst or associate training program at the firm.

For applicants, that means getting a job offer is less dependent upon proving smarts or skills, as it is convincing an interviewer they’ll fit in at the company. For interviewers, it means they’ll be sure the person they hire can get along well with team members, who they’ll be spending about 80 hours per week with anyway. This should help boost retention, employee engagement, and all the other good things that create a productive workforce, right?

In her article, “Hiring as Cultural Matching: The Case of Elite Professional Service Firms,” Rivera says she is not so sure. At some point, all this focus on cultural homogeneity is bound to produce a groupthink culture, one which keeps valuable voices out and ushers in people who may not be as qualified for the job.

Most companies claim they want real diversity in their offices, but Rivera’s study shows that diversity of thought may not falling by the wayside.

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African American Businesswoman on WhiteBy Michelle Hendelman, Editor-in-Chief

A recent infographic released by CEO.com revealed that the next generation of CEOs could be bringing an entirely different set of characteristics and leaderships traits with them to the C-Suite. These traits include a greater affinity for risk, more social interaction on social media platforms, an increased focus on leveraging technology, and more aggressive growth strategies.

If you are on the leadership track, you should continually be thinking about how to develop the skills and qualities now that will equip you to be an even more effective leader in the future. The traits of the next generation of CEOs listed above are critical components of leadership that you should try to understand and master to be a good leader at any stage of your career.

Leveraging Technology in the C-Suite

The age of high tech is upon us and younger CEOs are harnessing the power of digital and applying technology as a business solution. This means that in order to be an effective leader, you should know when to leverage technology to benefit the company as a whole. According to a recent article published in Financial Times, a lack of technological aptitude in the C-Suite can negatively impact a company’s growth and development.

The key to keeping your technical knowledge sharp is to find networking groups with a tech focus. This way you can stay current so that when the time comes for you to lead; you can do so with the most current technological knowledge and skills.

This includes having a handle on the value of social media. While social media platforms like Twitter and Facebook are great for spreading content and sharing company news, the real social media impact for companies is seen in LinkedIn. This legitimate platform for networking helps leaders establish a circle of virtual colleagues to use as a sounding board.

Digital engagement is an inevitable part of the future of business strategy. In fact, many of the executives we talk to have indicated that learning about all of the different ways technology can be implemented to improve business processes and strategies is something that makes their job incredibly exciting and rewarding.

Developing an understanding of social media, its applications, and results can help you be a better leader because you will have a pulse on how your clients and customers view your brand. According to one article, social media is one factor that will permanently reshape the business strategy landscape from this point forward.

Remember, however, it is not just important to know how to utilize social media as a business and leadership tool. You also should be able to measure and prove its value to your business in the short-term and the long-term.

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iStock_000017306404XSmallBy Michelle Hendelman, Editor-in-Chief

In a new working paper, “Are Women More Attracted to Cooperation than Men?,” authors Peter J. Kuhn and Marie-Claire Villeval explore the work environments in which women are most likely to thrive. According to the authors, women perform better than men in work situations that emphasize team based collaboration rather than individual competition.

They reference previous research that suggests some women typically avoid competitive work environments for two primary reasons: a simple dislike of competition and typically lower confidence in their abilities than men. Given these findings, Kuhn and Villeval take a look at how collaborative team environments affect women’s performance as well as their self-assessment of their own abilities.

The Experiment

Kuhn and Villeval build on research conducted by Niederle and Vesterlund in 2007 in which a worker could choose between receiving individual pay based on their own performance and a situation where their reward depends negatively on the performance of their team. What is interesting about Kuhn and Villeval’s study is that it is the first experiment of its kind to present subjects with two simple options. That is working in a situation where the subject’s reward is based solely on their own performance and a situation where the subject’s reward is based on the performance of their team.

The authors explain, “Our objective is to understand gender differences in selection into work environments where incentives for cooperation versus competition can be implicit features of the employment contract, or are deeply ingrained in corporate cultures.”

By shedding light on the reasons why women might be more attracted to collaboration, and as a result be productive and effective team members, the authors offer insight into how changes in corporate culture and HR policy can increase a female friendly corporate environment and culture.

Does fostering a collaborative environment really make the workplace more female-friendly? Furthermore, is it accurate to say that women display more confidence in their abilities when working as a team member?

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janet_yellenBy Pragati Verma (New York City)

All summer long there has been a debate, heated at times, about who is the best candidate to succeed Ben Bernanke as the Federal Reserve chairperson. These discussions have included talk about gender politics and glass ceilings in addition to the usual banter about monetary policy and inflation. Why? Because for the first time in the history of the Federal Reserve, a woman is among the leading candidates poised to take the reins.

If selected, Janet Yellen will be the first woman to head the world’s most powerful bank in its 100-year history. She will regulate thousands of banks around the country and control the supply of money in the US economy. Conversations around Yellen’s fiscal policies and gender increased in volume last week when her main opponent, Larry Summers, dropped out of the race, significantly increasing the likelihood that Yellen will become the next Fed chair.

Yellen must be used to sparking debates by now. When she joined the board of Federal Reserve governors in 1994, she broke the rules of hierarchy by eating in the cafeteria. Two years later, she dealt the Fed chairman, Alan Greenspan, his first and only defeat in a vote. Yellen talked Greenspan to a standstill, arguing that a little inflation was a good thing, when he was trying to drive annual inflation down to zero. She was also one of the first Fed officials to foresee problems in subprime mortgages.

A monetary economist with significant experience in the Fed, Yellen holds a Ph.D. in Economics from Yale and has taught at Berkeley, Harvard and London School of Economics. She enjoys support from liberal Democrats because of her focus on bringing down unemployment and could face opposition from Senate Republicans who are worried that her policies could accelerate inflation.

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