The Power of Resilience

power of resilience

Guest contributed by Aleksandra Scepanovic

According a report by American Express, “Behind the Numbers: The State of Women-Owned Businesses in 2018,” as of last year there were 12.3 million women-owned businesses in the U.S. alone.

This is an incredible accomplishment, considering there were just over 400,000 back in 1972. Women are increasingly becoming more prominent in the business world. However, there is still plenty of room for improvement.

While it is encouraging to think that these numbers have risen because women are gaining new opportunities to follow their dreams and pursue career paths they love and enjoy, the harsh reality is that this is not always the case. While there are many factors as to why women are apt to start their own business, the decision could also be a result of work-life imbalance, gender discrimination, or the pay gap women often face in corporations. Growing up, women are told that they are equal to their male counterparts, that they can be whoever they want to be; but just past the childhood days exists an undeniable level of pressure that all women face, no matter their journey.

As women, we are used to society’s expectations of what and who we should be, both in our personal lives and in our careers. This pressure may lead to the feeling or need to be successful in ways different than those experienced by men. We are often faced with pressures to look a certain way and act a certain way, and we experience ageism differently than men. Resilience is defined as “the capacity to recover quickly from difficulties; toughness” – something women know a little about. Resilience is a quality that is not only important in your personal life, but is also pivotal to being a successful business owner and leader.

Dr. Brené Brown, a research professor at the University of Houston, conducted a study called the Shame Resilience Theory: A Grounded Theory Study on Women and Shame. The main purpose of the study was to determine how and what makes women feel a sense of shame, or what makes them feel unworthy of acceptance. While there is no universal trigger or answer, the study concluded that, “The sociocultural expectations are narrow interpretations of who women are ‘supposed to be,’ based on their identity (e.g., gender, race, class, sexual orientation, age, religious identity) and/or their role (e.g., mother, employee, partner, group member). These sociocultural expectations are often imposed, enforced, or expressed by individuals and groups (e.g., self, family, partners, friends, coworkers, children, membership groups).”

This feeling of “shame,” as Brown describes, does not stop in the workplace, and can even amplify. Women often have to work harder and work smarter than their male counterparts. On average, a woman will earn about 80 cents for every dollar earned by a man – a disappointing statistic that many of us have heard time and time again. Unfortunately, one which doesn’t always change for women entering the entrepreneurial world. In many cases, gender discrimination may not only affect your paycheck, but might also affect the funding you receive to start your business in the first place. A study by Boston Consulting Group found that “Investments in enterprises founded or co-founded by women averaged at around $935,000, less than half of the $2.1 million on average invested within those founded by men.”

Women face many challenges they need to overcome throughout the course of their careers, challenges that can significantly differ from those men encounter. A report by Senator Jeanne Shaheen of New Hampshire titled “Tackling the Gender Gap: What Women Entrepreneurs Need to Thrive,” indicates that the three greatest struggles female entrepreneurs face are lack of role models and mentors, the gender pay gap, and unequal access to funding and venture capital.

While this may seem disheartening, there can be light at the end of the tunnel. With each year that goes by, more women are showcasing their resilience and becoming successful business owners and leaders, proving the upward trend in female-founded firms is a result of hard work and determination to thrive.

According to the same previously referenced study by Boston Consulting Group, “For every dollar of funding, startups founded by women generate 78 cents, while startups founded by men generated less than half, at only 31 cents.” While proving that companies founded by women are typically more capable of thriving than male-founded firms, the number of female-owned businesses has doubled in 20 years, as has their revenue. Still, while vast improvements have been made over the last century, there is even more room to grow.

Throughout history, women have had to prove their worth and their place in leadership roles, but the power of resilient women is that we are not deterred by unfavorable statistics, or by being categorized as “successful” or “unsuccessful” based on old school ideals. Though the word resilience can be easily defined, the act of resilience cannot. It is a practice that we must work at each day, and continue to strive for to pave the way for some even more resilient women in the future.

Aleksandra Scepanovic is Managing Director of Ideal Properties Group, a leading residential real estate firm specializing in premier Brownstone Brooklyn and Manhattan neighborhoods in New York City.

The opinions and views expressed by guest contributors are their own and do not necessarily reflect those of theglasshammer.com

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Op-Ed: A journey from visibility to engagement and action

Kelly Widelska
In 2011, The Glass Hammer featured me in one of their articles as a rising star, I had realized then that the personal choice I had made to be out in the workplace was a critical part of my confidence; and that being authentic and bringing all of myself to work was part of my value proposition to an organization.

Eight years later, as my career has progressed into more senior positions, that value proposition remains a truth for me and for my success. My choice to be out – and having a supportive environment in which to be out – gave me one less thing to worry about, so I could focus my attentions on what mattered – managing the trials and tribulations of running global programs and their teams.

Out for others

I have always been an advocate for role models in organizations to help lead changes in approaches and attitudes. As a role model, I can be out for others, using my seniority to hopefully give people greater confidence to be themselves. I still believe that it is important to see yourself growing and developing within an organization and out visibility by senior leadership is critical to encouraging LBTI women as their career develops.

Working in an international organization, despite being in a bubble in Washington DC, I remain mindful of the reality of the challenges of being LGBTI in the 170 countries in which the World Bank Group is present around the world. Working as part of GLOBE (our LGBTI Employee Resource Group), we support our staff who may be working in countries where being LGBTI is criminalized or stigmatized. For example, we have worked with HR to ensure that LGBTI staff members who may be posted to challenging countries have i) a choice to discuss declining the position, without a negative impact on their career and ii) an understanding of how the World Bank Group will keep them and their family safe. We embrace the “Embassy model” of LGBTI inclusion meaning it doesn’t matter where in the world you are, we will implement and enforce protective policies and LGBTI-supportive measures, and we are working hard to make that a tangible reality for all our staff.

Out for global impact

It is an interesting time to be working in global development. The World Bank Group approaches exclusion based on Sexual Orientation and Gender Identity (SOGI) through its commitments on gender equality and social inclusion. The links between gender equality and development are well established in the World Development Report 2012. Social Inclusion is key to achieve the World Bank Groups twin goals of eradicating extreme poverty and boosting shared prosperity. Specifically, sexual and gender minorities are particularly important because they are likely overrepresented in the bottom 40%. While robust data is scarce, the existing evidence indicates that LGBTI groups have worse education outcomes due to bullying and stigma, higher unemployment rates, as well as lack of access to adequate health services, housing and financial services.

I now represent IFC on the World Bank Group SOGI taskforce. A multi-sectoral group set up to advance SOGI issues and to scale-up research, programs, and staff trainings. We are looking at ways that the IFC can support the private sector in this undertaking.

Joining the SOGI taskforce has been a great opportunity for me – outside of my day job – to understand at a deeper level the many issues and challenges that LGBTI people face in and outside of the workforce. My participation has helped me to develop new knowledge and skills.

I am only beginning to really understand how complicated human structures are – and how fragile organizations and economies are despite being the backbones of societies around the world. This fragility underlines my continued belief that role modelling is still critical to the implementation of changes that we want to see in the world for all. Ensuring that no person is left behind, as per the promise of the United Nations 2030 Sustainable Development goals.

About the Author:

Kelly Widelska is the Global Head of Knowledge & Learning for the International Finance Corporation (IFC), a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets. She is also a member of the World Bank Group Sexual Orientation and Gender Identity (SOGI) Taskforce.

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The Importance of Supporting New Parents, Inside and Out of the Office

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Supporting new parentsGlobally, parental leave policies vary greatly among both advanced and developing countries, and researchers have determined that these policies can have a profound effect on female workforce participation rates.

Research conducted by Goldman Sachs found that in 2018, the participation of prime-age women in the US economy was lower in comparison to the workforce participation of this population in 2000, nearly 20 years earlier.

A separate study, titled “Female Labor Supply: Why Is the United States Falling Behind?” that was published in 2013 in the American Economic Review, found similar results, reporting that in 1990, the US had the sixth-highest female labor participation rate among 22 OECD countries. However, by 2010, the US’ ranking on this list fell to 17th.

Goldman Sachs research estimates that if the US were to introduce longer parental leave policies and higher public childcare spending, similar to policies adopted by other advanced economies, female-participation rates in the US could increase by around 4 percentage points.

Companies are therefore focused on their parental leave policies, including Goldman Sachs, which offers primary caregivers 16 weeks leave and non-primary caregivers four weeks leave following the birth or adoption of a child. In addition, the bank provides a variety of other services to employees to support them during this time period.

Here, Goldman Sachs people describe their parental leave experience, working with the firm’s dedicated Wellness team and share their advice for other new parents.

Naomi Leslie: “I Appreciated Being Treated Like Any Other New Mom”

Naomi Leslie, a managing director in the Investment Banking Division, described working closely with the firm’s Wellness team as she prepared for her baby, who was born via gestational carrier. “I appreciated the firm’s parental leave policy because I was treated like any other mother who was carrying a child,” said Leslie. “I took several months to be home with my daughter and bond with her, and felt well supported by the Wellness team in preparation for going on leave.”

Leslie noted that she relied on LifeCare’s consultants, as well as their recommendations for pediatricians and day care centers, in preparation for the arrival of her daughter. In advance of going on leave, she also discussed different approaches with Wellness for keeping in touch with her teams, and ultimately went on to develop coverage guidelines for each client.

She recommends that both women – and men – take the full parental leave offered to them, in order to “set the standard” going forward. “We should begin to treat paternity leave with the same reverence as maternity leave,” Leslie notes.

Jane Moffat: “The Support I Felt Was Unparalleled”

“The support I felt was unparalleled – both from the firm as a whole as well as Wellness, my team, and my internal clients,” said Jane Moffat, a vice president in the Legal Department. Based in the firm’s Washington, DC office, Moffat also described the lengths the firm went to in order to provide her with appropriate accommodations. “We have a wellness room in our office that was converted into a lactation room – as a breastfeeding mom, my needs were prioritized and it could not have been easier for me to return to work.”

As part of her role, Moffat makes overnight trips between Washington, DC and New York, and leveraged the firm’s milk shipping program, offered in partnership with LifeCare, to ship milk home overnight. Moffat said, “The process worked seamlessly each time – Goldman Sachs is truly the best place to work, including for a new mom.”

Vinod Jothiram: “Taking My Parental Leave Helped Me Bond With My Son”

As a soon-to-be new dad, Vinod Jothiram, a vice president in the Securities Division, thought that the firm only offered a few weeks for parental leave. However, as Jothiram planned to be the primary caregiver for his newborn son, he realized he was eligible for Goldman Sachs’ primary care parental leave program, which offers up to 16 weeks. “Taking my parental leave helped me bond with my son over the course of the 12 weeks I was home with him,” said Jothiram.

Jothiram described the process of taking his parental leave as “fairly straightforward,” noting that he had developed a transition plan to bring team members up to speed. He recommends: “If you’re taking a parental leave, think of it like mobility – you should develop a plan, and team members should be ready to pick up different roles upon your return.”

Naomi Lupemba: “Utilize Firm Resources During Your Transition”

“Prior to taking maternity leave, I was a bit concerned about being away from the office for several weeks,” explained Naomi Lupemba, an associate in Compliance. “However, after going through the process, I realized that this concern was completely unfounded – my team was very supportive of my parental leave.”

Lupemba described how she took advantage of the myriad of benefits offered by Goldman Sachs in advance of, during and after returning from maternity leave, including onsite prenatal classes and onsite childcare. “At my lunch break, I go see my son,” said Lupemba, noting that she uses firm-provided childcare at her office. “Being able to see him in the middle of the day removes a source of stress for me as a new mom.”

Elizabeth Reed: “My Managers and My Team Were Extremely Supportive”

“The idea of going on maternity leave was daunting,” said Elizabeth Reed, a managing director in the Investment Banking Division. “However, my maternity leave outperformed my expectations – my managers and my team were extremely supportive.”

Reed described her leave and returning to work as a “holistic recovery process” due to the support provided by the Wellness team, including lactation services and childcare guidance. Commenting on her return to the office, Reed said, “All my colleagues at work who have children have been incredibly helpful – I now have a whole new network to connect with as a sounding board.”

The Role of Corporations

In the absence of a federal paid parental leave policy, it’s more important than ever for private institutions and corporations to provide new parents with the resources they need to successfully take their parental leave, and ultimately return to the workforce.

Goldman Sachs is one example of what a company can do to help employees manage one of the biggest changes in their life, such as introducing a child into their family, successfully.

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Cryptocurrency needs women to reach a tipping point

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Monica Long featuredBy Monica Long, SVP of Marketing and Communications at Ripple

“How can I start a career in crypto when I know nothing about it?” A bright-eyed student asked bravely but timidly.

I’d just completed a talk about my career journey that led me into the wild and wonderful world of crypto and blockchain to a group of about 80 Wharton business school students.

She emphasized “nothing” in her question and I knew exactly the sentiment behind the question – self-doubt. It’s all too familiar in my regular interactions with people on the outside looking into a still nascent but burgeoning industry, especially with women.

Very smart women say things like this to me all the time when I prompt them to get involved after they express interest in the space:

“I don’t get it.”

“I don’t have a finance background.”

“It’s SO confusing and complex.”

Like so many finance fields before – investment banking, hedge funds and trading – women are bowing out of opportunities in crypto, sidelining themselves from career-defining opportunities and major financial upside, all because of intimidation.

While the number of women in blockchain and crypto is growing, women are seriously underrepresented on teams and in executive roles. A December 2018 report detailed women comprise 14 percent of blockchain startup teams and 7 percent of executive roles. In contrast, women typically represent 25 percent of the workforce in otherwise notoriously male-dominated Silicon Valley big tech companies.

The industry needs women and greater diversity to reach the tipping point on the adoption curve. Team diversity is key to the success of any business in any sector.

Here’s my best advice to that Wharton student based on my experience.

Quiet the Gremlin

That little gremlin had a big voice in my head: “Don’t do it! You’ll fail!” It was August 2013 when I reconnected with Chris Larsen. I first worked with Chris when he was CEO of Prosper, the online person-to-person lending marketplace, supporting Prosper’s public relations efforts. I shared Chris’s passion to fight for “the little guy” – to give the financially underserved greater, fairer access and freedom.

In that August meeting, Chris shared his vision to use the innovations in blockchain and crypto to enable the world to move value like it already moves information, creating an “Internet of Value.” He was electric, saying he thought this was fintech’s most important breakthrough. Following our meeting, Chris offered me a position at his new company leading communications.

I was excited… and intimidated. I didn’t understand the details of what Chris described. Market making, consensus algorithms, settlement processes – it was all foreign to me. With this role, I’d assume responsibility to communicate this business to the world. Yikes.

I took the leap. I believed in Chris and he believed in me. The worst that would happen is I’d try and fail, learn and move on. The reward far outweighed the risk.

Step one is to get out of your own way and quiet the gremlin. Know you can learn it.

Find Your Passion Project

A major reason this space is so confusing and complex is many projects are purely tech-driven. They’re untethered from a use case.

Blockchain and crypto suddenly become more sensible, approachable and viable when a project clearly defines the problem it’s solving.

In the case of Ripple, we’re removing friction from global payments – making them faster, cheaper, more reliable. Hundreds of millions of people work abroad and send money home to their friends and family. Getting as much of their paychecks home as quickly and reliably as possible is critical to their ability to support their families. Ours is a mission I care about deeply.

Make Contact

While you can learn a lot about this space crawling press articles, forums and social media, misinformation and noise abounds, which may hurt more than help. I learned the most by talking to people I knew and trusted in the space and unabashedly asking question after question. The adage “there is no stupid question” is certainly true ramping up in this industry!

If you don’t have friends or professional contacts in the industry, do a little research to identify a few people you’d like to connect with based on common interests in projects or use cases. You may be pleasantly surprised by the willingness of strangers to help you out – it’s a supportive community.

Men led the Internet Age; they reaped the glory and the gains. Blockchain and crypto represent the dawn of the next big Internet revolution. We women have the chance to lead. Let’s not miss our chance to break the cycle of underrepresentation in tech.

Author Bio:

Monica Long, SVP Marketing and Communications at Ripple

Monica Long is SVP of Marketing and Communications at Ripple. Ripple is removing friction from global payments, connecting banks and payment providers to provide one frictionless experience – that is faster, cheaper, and more reliable – for sending and receiving money globally.

Throughout her career, Monica has helped technology companies drive fundamental change in the financial industry. At Ripple, Monica has built a team responsible for Ripple’s go-to-market strategy, lead generation, corporate communications and branding. Together, they tackle the challenge of ensuring all audiences – from the cryptocurrency community to financial institutions to regulators – understand the transformative potential of the growing blockchain industry.

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Women’s History Month Offers an Opportunity to Reflect on the Importance of Women Leaders

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Laura MartinBy Laura Keidan Martin, National Chair of Katten Muchin Rosenman’s Women’s Leadership Forum and member of the firm’s Board of Directors and Executive Committee

In honor of Women’s History Month, it’s important we take the time to celebrate our accomplishments and the progress we have made as working women but also to reflect on the work that lies ahead so women in all professions, particularly in the legal field and others that are traditionally male dominated, can achieve gender parity and equity – especially at the leadership and partnership levels.

At Katten, women attorneys are making a mark. Women are represented at every leadership level from practice head and office managing partner to the board of directors and the executive committee, which oversees all governance activities and sets policies for the firm.

This year, not only are Katten’s female attorneys garnering accolades for their hard work and many achievements, but the firm has also been recognized for its efforts to support the career advancement of women and improve diversity and inclusion in the workplace. Katten secured spots on the 2018 lists of Working Mother’s 100 Best Companies and 60 Best Law Firms for Women, as well as Yale Law Women’s Top Ten Female Friendly Firms. Katten also achieved Gold Standard certification from the Women in Law Empowerment Forum and is among National Association for Female Executives’ Top Companies for Executive Women.

But make no mistake: there are still more gains to be made as the number of women attorneys advancing to higher levels is sluggish among law firms in general. And the rate of female minorities ascending to positions of power has lagged even farther behind in the legal profession.

As National Chair of Katten’s Women’s Leadership Forum and a member of the firm’s Board of Directors and Executive Committee, I have a personal commitment to advancing and retaining women attorneys through mentoring, external networking, internal relationship-building and career development programs. We want to see women rise to the top at Katten. That’s why as leaders we aim to do more and to do better by offering firm programs and policies to help women climb the career ladder and develop the skills they need to advance to leadership roles.

Women leaders are integral to the success of empowering all women at all stages of their careers. And that’s why Katten’s female leaders are so vested in the development and implementation of programs and policies that help women reach their professional goals. We believe that women’s upfront involvement is critical to getting these initiatives right and vital to our success.

Our women leaders also serve on the firm’s National Mentoring Panel, which is made up of 17 successful female partners recognized as leaders in their fields. These women serve as role models and share their professional and personal experiences as a means of helping their colleagues. But the objective is to be more than just a mentor. Fellow board member Nadira Clarke likes to remind us, “Women leaders can impact how women get business, how they are compensated, whether or not their work is recognized, or whether or not they get promoted.”

Katten leaders continue to work hard to identify the next generation of female leaders at the firm and provide the tools they need to succeed, including diversity-focused initiatives, in which female attorneys of color participate. Such programs can assist in building leadership skills, developing client relationships and generating substantial books of business, which can go a long way toward a greater likelihood of career advancement – and it’s simply good business sense for the firm as well.

Katten is also committed to dedicating resources to set women on successful career paths. We want to empower our female attorneys at various stages in their careers so they see an attainable, upward trajectory at Katten.

And most importantly, we know we can’t achieve greater gender-balance alone. That’s why we collaborate with organizations at the forefront of generating innovative ideas and solutions that will assist us with improving the retention and promotion of our female attorneys. By working together we learn from each other’s best practices so that we can continue to create positive change.

That’s why we teamed with Diversity Lab’s Women in Law Hackathon, which brings together law firms across the nation to create solutions to boost the retention and advancement of women in law, and pledged our commitment to the CEO Action for Diversity & Inclusion initiative, dedicated to advancing diversity and inclusion within the workplace.

That’s why we signed on to the Mansfield Rule initiative (a winning idea from the 2016 Hackathon). It was a major milestone when Katten achieved certification for meeting Mansfield Rule standards by ensuring that women and attorneys of color make up at least 30 percent of the candidate pool for firm leadership and governance roles, equity partner promotions and senior lateral positions. This year we are also participating in the Mansfield Rule 2.0 which expands our agreement to be even more mindful of diversity by tracking roles in client pitch meetings, including LGBTQ+ lawyers as part of the diverse candidate pool, and making sure that appointment and election processes are transparent to all lawyers.

All of these efforts combine to help push male-dominated industries to focus on creating diverse teams and to snuff out bias, whether intentional or unintentional. They help put more women in the room and at the table when key business decisions, promotions, or job offers are being made. They help transform what leadership looks like today and what it should look like tomorrow. They help encourage the next generation of women to pursue careers in these fields because they see more and more women represented in the industry.

This Women’s History Month, let’s celebrate the affirmative impact of women in the legal profession and renew our commitment to diversity, innovation and greater gender-balance in the workplace. We all have a role to play, to lean in, lead the way and be the change agents. Our careers, businesses and society will be stronger for it.

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Op-ed: Make Asset Management More Visible as a Career Choice to Women and Girls

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Ann MilettiBy Ann Miletti, co-lead portfolio manager of the Wells Fargo Asset Management Private Market Value (PMV) Equity team

When I tell people what I do for a living, I am often met with puzzled looks.

These experiences always remind me that asset management is a complex and often misunderstood business – despite the fact that the industry is inextricably involved in the financial and retirement plans of most Americans. Since it is Women’s History Month with International Women’s Day celebrations still resonating, with the theme #betterforbalance, it is a great time to talk about realities, myths and opportunities that come with working in asset management. And, how it is an underdiscussed career path that many women could take, in many forms, either on the retail or institutional side of the business.

My Journey to Co-lead Portfolio Manager

I’ll admit, when I started my career as an elementary school teacher, I would have had the same reaction. However, 29 years ago my path took a sharp turn that caused me to fall into asset management in a most unconventional way. After my son was born with a serious heart defect, I needed to stay home to care for him while my husband worked during the day. But the tremendous financial implications of his illness and of life in general did not allow me to remain unemployed. So, I found a job working the midnight shift at a call center for a local financial firm. This job allowed me to learn about the financial markets and various product offerings from the ground up. Unbeknownst to me at the time, it would be the stepping-stone for a successful career as a portfolio manager at Wells Fargo Asset Management. I currently, along with my team, manage about $4 billion in assets.

Still today, if you ask a high school or university student who is exploring career options or majors what a fund manager or asset manager does, most do not know. Sadly, if they do know anything, it may not be something positive. Hollywood, the media and politicians often portray the financial services industry – and Wall Street in particular – as immoral, driven by greed and selfishness.

In all honesty, asset management, like most industries, has produced its fair share of bad actors. And the financial crisis of 2008 further tarnished the reputation of financial services overall.

Yet the true value of asset management is rarely discussed, which is unfortunate. I firmly believe that the majority of asset management professionals go to work each day with the goal of creating wealth for their clients and helping them prepare for their financial needs, both for today and for the future. Today, our industry in some way manages about $28 trillion in retirement assets in 401(k) plans, pensions and other vehicles.1 Our mission is to help people achieve their dreams, such as sending their children to college, buying their first home, preparing for retirement or something much bigger.

Asset management provides a worthy and fulfilling career – a notion that I believe remains widely misunderstood. For example, I know the returns we generate for our clients are meaningful and make a significant difference in their lives. And without finance, the economy would not grow, creating fewer jobs and hurting all of us, no matter your profession or financial standing.

How do we change the perception?

To start, we need to educate people at younger ages about financial literacy and encourage them to practice responsible money management skills. This is something I am both passionate about and involved in with high school-age kids today.

We as an industry must also stop talking in jargon that is difficult for a mass audience to understand.

In addition, asset management and financial services in general need a pipeline of curious, dynamic-thinking, and diverse people. To attract the right talent, our industry must do more to educate everyone about the value that we provide to individuals, families and society.

We need to more actively embrace diversity, including encouraging young women equally and early to be interested and  confident that they belong in the asset management field – and maybe, most importantly, that they are needed because of their skills.

In research conducted by Wells Fargo Investment Institute,2 we found that women’s attributes such as patience (trading less), discipline (through asset allocation) and a willingness to learn (seeking advice from an investment professional) have allowed them to earn higher returns on their investments for the risks they do take. That is essentially the essence of investing – maximizing returns in the face of risk.

We must find ways to communicate the financial stories of success. Hollywood may have immortalized the slogan “greed is good” with many of the recent depictions showing a persistently evil industry – but that just isn’t so. Nest eggs have grown, college educations have been paid for, endowments have been built up and civic building projects have been completed. These are just a few examples of how society has benefited from the industry.

I am grateful for my career in asset management, a field that thrives on the many strengths and attributes of women.

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Op-ed: To Achieve #balanceforbetter in the Workplace, Reinvent Family Leave Policies

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Dale MeikleBy Dale Meikle, PwC

Icelandic primary school children born in the 1970s and ‘80s expressed disbelief when told that a man could be President.

Their mental map didn’t include little boys aspiring to the presidency — because all they’d ever known was a female president. It’s a favorite anecdote of mine because it flips common gender stereotypes while cementing their power.

Gender equality leads to better outcomes for everyone, a theme International Women’s Day elevates this year with their #balanceforbetter theme. At PwC, we approach IWD as another opportunity to challenge stereotypes. The most limiting stereotype at work is that women are predestined to be caregivers. Outdated family leave policies lie at the root of gender inequality in the workplace and beyond. Until they’re refreshed to give individuals and families more choices, women will continue to make up a minority of leaders.

PwC’s US CEO, Tim Ryan, recently said, “Together a new employer-employee relationship can expand what the old one did for decades, create shared prosperity and hopefully build better and more meaningful work and lives for millions.” Expanded family leave and a simple but intentional change in nomenclature will anchor this transformed relationship, paving the way for true gender equality in the workplace.

PwC found that the expectation of work-life balance is exactly the same between male and female millennials; research shows that men and women experience similar levels of work-life conflict and that fathers experience more work-life conflict than mothers. I can say anecdotally that the men I know take their caring responsibilities just as seriously as the women; and that my colleagues and friends without kids don’t value their family, friends, or time any less than those with kids. PwC’s cutting-edge research on engagement drives home the point that the most successful leaders of tomorrow must discover how to deliver great performance by helping people individually thrive.

Beyond the essential birth and recovery period that women must continue to take, women and men should have equal access to time off and flexibility in coming back to work after the birth or adoption of a child. Furthermore, all employees should be offered a minimum amount of leave to care for the people they love. Employees are unique in their needs and the most successful companies will offer benefit choices that work for everyone. Companies and governments should be racing towards inclusive family leave policies, not plodding towards them – and some are beginning to show significant progress.

Culture Matters but Policy Helps

Territories leading in family leave policies are — not coincidentally — also top of the World Economic Forum’s Gender Equality Index. Iceland, a perennial leader on the Index, grants three months of non-transferable parental leave to both mothers and fathers and an additional three months of leave to couples to share as they choose. Its success lies in the uptake: about 90% of Icelandic fathers take the leave.

Netflix offers 52 weeks of paid family leave to women and men (and, with 41% female employees is one of tech’s leaders in gender equality across its staff population); Google and Facebook offer equal family leave to women and men. Last year, PwC US introduced six weeks of fully paid parental leave for all employees, with about 72% of new fathers using the full amount. Employees also have the option to implement a phased return to work after parental leave, allowing new parents to work 60% of their contracted hours at full pay for four weeks following a paid parental leave of absence. Other types of caregivers can receive four weeks of paid leave in order to care for certain family members with serious health conditions. PwC UK offers eligible parents of either gender 22 weeks of full pay and is encouraging more dads to feel like they can take it. Breaking through assumptions about men’s role in families and changing attitudes will be key to capitalizing fully on the good policies that already exist.

To be sure, gender equality is a complex issue with children socialized from a young age to play into narrow roles – and this calcifies the stereotypes that play out later in life. Even in countries with longstanding progressive parental leave – like Sweden – deeply embedded gender stereotypes from sources, namely, the media, hinder gender equality progress.

Globally, women continue to bear the bulk of unpaid care work. Leave to care for children and other loved ones matters now as it has never before because the workforce has transformed, while policies and even norms have stagnated. Many leave policies are woefully out of date, constructed to serve a majority of mothers who didn’t work outside the home and a majority of fathers who were happy to leave domestic duties to their wives. Around the world, family leave policies vary dramatically, with some countries lacking any mandated paid parental leave (United States), and others offering up to three years (Germany, Eastern Europe). In the UAE, new fathers get two days of paid leave, while in South Africa and India they get five. Research shows that new mothers are penalized financially at work, while new fathers are rewarded and these outdated or unfit leave systems perpetuate that trend. It’s not the fact of a woman having a child that hurts her career, but the assumptions that she is less competent and less willing to take on high-profile assignments.

When these policies were crafted, zero percent of corporate workers had caring responsibilities. Today, according to a recent HBR study, seventy-five percent of all workers have care responsibilities, regardless of gender, and regardless of whether they are single or coupled. Families have also evolved: same-sex, single parents, and blended families are exponentially increasing. It’s important to note that leave policies shouldn’t be limited to caring for children, but can and often do also encompass caring for partners/spouses, parents, grandparents, nieces/nephews, or other close family members. Many corporations don’t directly address leave for anyone other than children.

The imperative is there

According to a 2016 study, only 36% of companies have a global parental leave policy covering multiple types of leave, 94% include maternity leave, 76% include paternity leave, and 73% included leave when adopting children. Our leave policies are no longer fit for purpose.

We must provide more support and choices for our diverse workforce and use the term family leave to describe anything other than a woman’s short-term medical leave, when recovering from childbirth. Family leave is not only a gender-neutral term, but covers a wider swathe of employees and accounts for the changing family and household dynamics of today’s world.

About the author

Dale Meikle is the Global People Experience Leader at PwC International

Connect on LinkedIn

Follow on Twitter @dmeik

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Op- Ed: How To Have the Hard Conversations About Casual Racism

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casual racism

By Nicki Gilmour
It is Black History Month. Beyond the celebration of African heritage, it is also a time to have the hard conversations.

Hard conversations around race, ethnicity, racist behaviors and what makes someone or something racist are uncomfortable for many people and it takes bravery, an open and developed mind and good intentions to embark on them. If you are a white person you have to face that you might have some white privilege going on, and it is easier said than done. If you are a person of color reading this, know that i am terrified to dissect this, but want to in service of advancing the subject and hope I can provide a way for everyone to think differently. Casual racism and casual sexism have a lot in common, it is like a 2.0 version where it is not exactly explicit but has enough intoned for us to know on the receiving end of it, that there is something implied to ‘keep us in our place’, the place before we were here. The sunken place in the fabulous satire Get Out explains race in America better than most articles I have seen.

It is a fragile yet perfect time for conversations about social identity and specifically race and ethnicity with different voices calling out Gucci and Katy Perry’s products saying they evoke Blackface depictions this week. Liam Neeson disclosed information about an incident that could have ended in a vengeance murder of an innocent black person 40 years ago in the UK. So, If not now, when would we talk about racism, casual and otherwise?

Racist? I am not a racist! 

In case you missed the whole disclosure from Liam Neeson, this VOX editorial piece is the best round up of opinion and links I have read about the topic. But, what is striking about this whole incident to me is that he seems oblivious to the obvious conclusions that most of us have around his language today describing the incident in the past. His reaction of surprise of being called a racist for his admission, is casual racism and white privilege, as it is afforded only to people who have the luxury of not understanding what it means to be black, or in other circumstances of casual -isms, a woman or LGBT in this world.

I grew up in the sectarian violence of Northern Ireland so I understand firsthand what he is saying about pitting entire groups against each other based on identity and affiliation by default to a two group system to brutalize the brutalizer or one on their “side” in a vicious cycle of perceived wins. So, his context is what we call in Northern Ireland “tit for tat murder” and I think while it might be hard for people to fully understand what he is saying about his programming, it is relevant here. Not in any way an excuse, but if we apply how one’s lens or worldview shapes us we can start to understand why people will differ in their opinion of what constitutes racism and why that is.

The ‘socialized mind’ is one that does what is expected of it, according to Kegan (Harvard developmental psychologist) who suggests that between 58% -75% of the population can only view incidents subjectively. Simply put, situations only makes sense to them according to how they directly experience events and data filtered through the lens of lifelong cultural and familiar constructs.

I think Liam is still very much unconsciously but not consciously having a reflection around masculinity and its role in the patriarchy. He is now fully starting to challenge his childhood constructs and that review is a good step.But, I have not seen him have any glint of awareness that he is not extending the same review he gave to his constructs around vengeance of the other group to his worldview on race and ethnicity. He has not gotten to a place where he can also see that by asking the second or third question to his friend who was raped consisting of ‘what colour was he?’ was only a deductive question to get an answer he wanted. It was a new form of in-group and out-group category process that remained in his framework from Northern Ireland’s two group system of “Us or them”. So, he did (and does) have bias against people of color and predisposed stereotypical notions, but he had no clue until now and possibly continues to not see it. So, having seen this play out in all aspects of diversity, my question always becomes one of why do the rest of us have to suffer as a default group affiliated member (person of color, woman etc) while the straight white guy has a mere inkling that fish do not know they are swimming in water and wants a prize for admission of a bad behavior? My conclusion is always, ‘better late than never and keep going.’ because what other choices do we have for progress?

What are the best ways to prepare for a hard conversation around ethnicity and race?

A discussion around race is ripe or any other hot topic involving identity and legacy power, whether in this piece or at a dinner party, only if the people reading this or eating dinner with you are not beholden to making meaning of experiences only via the usual cultural sources given to them over a lifetime, processed exclusively through that worldview.

Race, politics, sexism, and the gold or blue dress challenge all boils down to what your brain thinks it knows to be true. According to Kegan and Lahey, developmentally if you can only look through your lens without being able to look at the lens itself, you are beholden to that socialized mindset of tribal, go with their crowd thoughts trapping you forever in subjectively. Sound familiar? The problem is we get nowhere as people name call and soundbite at each other on social media and family dinners and it shuts down an actually productive conversation that is needed to resolve tough topics. Hence, the masses scream on twitter and some people will say they are right in naming racists as racists and others will say that they do not believe that person or product is racist and that is an over reaction and just cannot see what you are talking about or come to their defense based on personal frameworks versus wider systemic thought frameworks, or objective review.

The adult developmental level beyond the socialized mind is the self authoring mind and then the self transforming mind. In this situation and in casual racism, we have to go beyond our beliefs and experiences to understand other people’s experience in their context, not just ours. What Michelle Rodriguez missed in her defense of Liam was not lost on Shonda Rhimes or so many others.

In our socialized mind we can argue all day whether he is a racist or not a racist, and we will both feel vindicated. In our self authoring mind, we can apply frameworks that help us understand systemic matters such as societal bias, stereotyping and legacy historical power issues. Then, we can understand why Black Lives Matters for example, is not negating that all lives matter and by saying it is, is a denial of inequity and a microaggression.

Equipping yourself with the capacity to enjoy ambiguity while developing mental complexity and having competing ideas without having to throw one out to streamline or prevent cognitive dissonance, is a growth strategy for you in your career and life.

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OP-ED: Why Corporations have a role in America’s STEM Pipeline

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Serene Gallegos

By Serene Gallegos

According to the U.S. Bureau of Labor, by 2020 there will be more than one million more computer science-related job openings in the U.S. than graduating college students qualified to fill them.

And it’s not just computer science careers that are changing; at the same time, automation is reshaping the way we work across professions. So, what does that mean as we try to prepare today’s students for tomorrow’s jobs – many that don’t even exist quite yet?

As a former elementary teacher, I know firsthand that teachers face a unique challenge to build lessons that are engaging and relevant for the future. Plus, it’s easy to become overwhelmed with the resources that may or may not be available – particularly around STEM and computer science. These subjects used to be relegated to math and science, but in today’s digital-first environment, technology permeates throughout everything we do, and therefore everything we teach.

To successfully navigate this new era of technology, students must be problem-solvers armed with skills to compose a successful workforce in the future. To achieve this, we need to implement a new way of thinking – namely, computational thinking – into the classroom. That’s part of the reason why I made the move to the private sector. Today, I work at Tata Consultancy Services (TCS) to lead a program equipping teachers with relevant lesson plans and experiential learning activities that help bring computational thinking to life.

So, what exactly is computational thinking? It’s a higher-level problem solving process whereby students learn to decipher information and form innovative solutions. What sets computational thinking apart from traditional critical thinking is that it considers how 21st century technology overlaps with key strategies to solve any given challenge. Computational thinking goes far beyond computer science to encompass all subject areas across all industries – from social studies to physical education, or simple tasks like packing a suitcase, learning to dance, or cooking a meal.

According to a recent report released by The World Economic Forum, by 2022 more than 54 percent of employees will require re-skilling because of new and emerging technology. Computational thinking is a foundational skill for the success of the future workforce and is how we future-proof students with skills that will be relevant to any career they choose.

In general, organizations are increasingly recognizing the value of building a diverse workforce. With STEM jobs growing 50% higher than the national growth average, it’s important to engage diverse backgrounds and different problem solving perspectives in order to maximize innovation. In addition, we know that the economic impact of stable, salaried STEM jobs for women and people of color will strengthen our economy. Yet for resource-strapped school districts, it’s difficult to single-handedly retrain teachers or implement costly new technologies in the classroom that engage all students.

Additionally, women’s underrepresentation in STEM is widely reported. Surprisingly, the number of female computer science college grads is trending downward – at just 18 percent according to the latest figures. Yet, women bring a highly valuable perspective to business operations today; just look at Lyft, a company that’s built a reputation for driving gender-inclusive policies that evens the playing field between drivers and passengers. Lyft partially attributes their app design to input from female leadership. This is just one example of why critical, computational thinking is an essential tool for women that can be applied in many different ways in today’s digital-first workforce.

That’s why education-focused corporate partnerships can truly make an impact to broaden the reach of STEM skill-building. TCS unveiled Ignite My Future In School in partnership with Discovery Education to provide free, easy-to-implement lesson plans and resources for teachers that can jump-start their ability to bring computational thinking to the forefront, across subjects, and for all students.

The value of corporate-led initiatives like TCS’ Ignite My Future in School are unique in that they are designed to meet teachers where they are, regardless of experience. Whether you are a new art teacher just starting out your career, or a tenured teacher with more than twenty years under your belt, curriculum that is digestible to all is less daunting to implement, and is also the most well-received by students. In many cases, schools cannot achieve this on their own – at least, not without a costly investment that may or may not be realistic. That’s why corporations are key to help fill a void, so long as they work in tandem with school needs.

Also, corporations must be realistic that they also can’t do this alone. When building out a successful education-focused CSR initiative, it’s crucial to bring in the right partners who can successfully integrate technology into resources that will resonate well with teachers. At TCS, we chose to partner with Discovery Education, a well-established leader in teacher resources and professional development, which only strengthens awareness and the educational components of our program.

When you’re a teacher, particularly in elementary education, you must become adept at many things – not just your subject area. You gain an understanding of how to incorporate different activities to bring your classroom teaching to life. Having an arsenal of resources with a curriculum that explores all subject areas and includes lesson plans on everything from building drones to deliver pizzas, to how to spur activism as it relates to an ecological crisis, is so powerful. That is why looking to corporations who are willing to step up to the plate, take accountability and address building a teacher’s capacity to the best of their ability is so critical in 2018.

My experience as a teacher has proved very valuable in helping TCS consider ways that our CSR program can positively influence the STEM pipeline in our country. I would stress then, that for other corporations’ programs to be just as successful, they should look to diversify the minds behind it and ensure that they are employing those from all walks of life who can bring unique perspectives to the table. When businesses take the first step, but also work in tandem with experts and thought leaders that can help guide their efforts to make a difference, they have the power to shape and propel us towards a prosperous future.

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OpEd: Talking about Harassment in the Workplace

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sexual harassment

Guest contributed by Stacey Engle

Women empowerment movements have been a prevalent force over the past year, from #metoo to #timesup.

The individual and collective impact of these movements has varied, as have the conversations we have had surrounding these topics – both at work, and at home.

At Fierce Conversations, we wanted to get a sense of how recent social movements have impacted the workplace, if at all. We asked more than 1,000 full and part-time employed individuals in the U.S. questions about current social movements, along with how their personal outlook has shifted over the past year.

Fifty-seven percent of those surveyed have discussed gender equality (including the #MeToo and #TimesUp movements), yet most of these conversations are occurring with friends and family, not within the workplace:

  • 44% have discussed with friends
  • 40% with family
  • 25% with colleagues
  • 8% with boss/supervisor
  • 3% with company leaders

While we weren’t surprised to see that the topic came up more with those we feel closest to outside the office, these low numbers within the workplace signal a clear disconnect between issues that matter and affect our lives, and the amount of recognition these issues are receiving in our places of work.

And these numbers only increase when we look at gender and age. More women than men (58% vs 47%) have had conversations about gender equality; 49% of women have discussed the topic with their friends, while just 37% of men say the same.

Younger Americans are also talking about these issues at much higher rates. More than two-thirds of those 18-29 have had a conversation about these movements; just 53% of those 60+ say the same.

Given the reality that older men make up the majority of CEOs and company leaders today, these numbers are concerning. These social issues may not be top of mind for these leaders, but it’s imperative that they recognize their employees are discussing these matters outside of work, and respond accordingly by addressing them within their organizations. It is imperative for women in leadership roles, even those not at the very top, to ensure these are topics aren’t brushed under the rug.

The good news is that, despite these conversations not taking place in droves at work, these movements appear to be making an impact in how empowered individuals feel today than they did a year ago.

Almost half (48 percent) of those surveyed said they are more likely to stick up for themselves than they were a year ago, and another 40 percent are more likely to stand up for a colleague. Thirty percent are more likely to address a colleague directly for inappropriate behavior, such as a racist joke or unwelcome flirting, than they were a year ago.

This data varies by gender; 55 percent of women are more likely to stick up for themselves than they were a year ago; just 36 percent of men say the same. Forty-two percent of women are more likely to stand up for a colleague; just 34 percent of men say the same.

There is very cleary a more significant shift here with women in their comfort level in speaking up, and we believe with the right conversation skills, these numbers can be even greater.

Conversations around equality are necessary, and every employee should feel comfortable discussing these issues, especially if they have experienced or witnessed any type of discrimination. Not feeling comfortable enough to speak up is the reason we have seen systemic issues at many organizations over the past year.

A barrier that many struggle with, however, is how to come up with an organizational perspective on these issues, if they don’t truly understanding the specific issues their company is facing. Here are some tips we recommend to move in the right direction:

  • Ask your employees the right questions. Many team meetings and one-on-ones are focused on the work at hand and don’t venture into larger, equally important topics. Change that. Ask your employees how they feel about the diversity of the organization, raise any issues you have seen and talk about them directly. Putting issues out in the open leads to others feeling safer to bring up concerns.
  • Encourage your employees to stand up for themselves. The results of our survey show some great progress in more individuals addressing issues in head on, which in many cases can lead to issues being addressed before they get out of hand. When issues are addressed early and often, everyone benefits.
  • Be accessible. The survey found that while only 30% are more likely to address a colleague for inappropriate behavior directly–this includes behaviors such as racist jokes, unwelcome flirting, etc.–just 20% are more likely to address said behavior with a supervisor. It’s important for employees to be able to confront their colleagues directly, but if the issue is not resolved, they need to feel comfortable bringing up the issue to their supervisor. Knowing your employees can and do share with you any issue they have is the best and most efficient way to ensure you can address any larger trends that arise.
  • Ensure you, and your employees, have the tools to have tough conversations. You, and all of your employees, must have the skills to bring up hard issues and address them head on. Avoiding, ignoring or brushing small issues under the rug will only lead to larger, more detrimental problems down the line. Given the right tools, confrontation can be a great learning opportunity for everyone involved.

At the end of the day, conversations about gender equality are necessary and need to happen to ensure your organization is addressing any and all issues as they arise, and that your employees feel safe and encouraged to come forward if necessary.

Stacey Engle believes meeting the needs of clients start with truly understanding the challenges they face. As a result, she is always connected—to clients, the latest trends, and the newest opportunities.

Stacey is a passionate self-starter with over ten years’ experience helping to build businesses through smart go-to market and innovative people strategies. As executive vice president sales and marketing at Fierce Conversations, Stacey leads the marketing and sales strategies, along with branding efforts for the company. Over the past 7 years, Stacey has been key a driver in Fierce’s double digit growth, landing the company consistently on the Inc.5000 list as well as receiving consecutive Best Places to Work and design awards.

Stacey is very passionate about community work, serving on boards and offering pro-bono work with the University of Washington, various arts organizations, and community initiatives. She was recently awarded the Outstanding Alumni Mentor Award from the University of Washington with her work in founding a professional development board that connects students with transformational experiences from workshops to global opportunities.

Disclaimer: The opinions and views of guest contributors are not necessarily those of the glasshammer.com

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