2023: Words of Wisdom from Women In Leadership (Part 2)

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women in leadershipThis week, we continue with more words of wisdom from women leaders we’ve interviewed throughout 2023. Through the months, we’ve spoken to women who are impacting change, shaking up leadership and transforming perspectives. We’ve talked to women in top leadership positions and founders introducing their own new visions into the world.

Please make sure to check out Part 1 of this year round-up! Below we share more words of wisdom and inspiration. Thank you each for the gift of your energy, time and insight!

“I feel strongly about focusing on doing right by others. Ambition goes awry if you don’t have respect for individuals, and if you don’t think about what motivates them. I want to understand what’s important to the people with whom I work. I focus on treating individuals how I would want to be treated – including respecting their differences, talents and expertise.” – Alexandra Tyler: Managing Director, Digital Transformation Leader, Accenture Song

“Some people believe that passion will help you find what you want to do. I don’t really believe in that. I believe that you have to know what you want. Knowing what you want and doing something actionable towards it will bring the passion.” – Nadiya Kreynin: Chief Executive Officer, Forte DGTL and Chief Operations Office, Forte Group

“As leaders, we have to be willing to hear some difficult things and have better self-awareness, which isn’t always easy. If we do, we can become better leaders by being open-minded to making changes based on what people are telling us. This has enabled me to take pride in the leader that I’ve become.” – Tiffany Fleming: Vice President, Client Onboarding & Trading Documentation, PGIM Fixed Income

“I subscribe to the theory that the best leaders – not only with words but through their actions – encourage and inspire others to achieve their best. That is how some of the most influential leaders have impacted me in my career, and I aspire to have the same impact on others.” – LaShonda Fuselier: Head of Multi-National Corporations Subsidiary Coverage, Corporate and Investment Banking, Wells Fargo

“If you have the right skills and are prepared, don’t be afraid when the opportunity comes to you. No one can tell you it’s not possible… If you have the passion for the work, there’s always a way. Pick the right field, pick the right industry, pick the right job that you have passion for.” – Wanda Woo: Partner, Capital Markets, Shearman & Sterling LLC (Hong Kong)

“There’s an obsession with very young entrepreneurs, like Mark Zuckerberg, who quit college and go off to start their companies. But I think building a new scalable business is really, really hard. I don’t think I could have done it when I was in my 20s. There’s a lot of evidence that the most successful entrepreneurs are people who start their companies in their late 30s and early 40s. I started when I was 37. I think that coming to entrepreneurship a bit later, after I had done a lot of different things, made me much more prepared for the resilience and patience that was required and is still required for what we’re building.” – Sylvana Quader Sinha, Founder and CEO of Praava Health

“There’s power in the pivot. You can’t get stuck. You don’t want to plateau. You always want to stay fresh and connected. Pivoting is inevitable. You can’t not pivot, and if you feel like it’s not working, that’s your sign. For every single problem, there is a solution. You just have to spend enough time to let it present itself. Sometimes, the solution is a tweak. But recognize where you are – and be willing to turn where you want to go, in whatever you are doing, whether it’s a 180 or a few degrees.” –Sherin Dawud: CEO at Nura Co. and Co-Founder at Power Pump Girls

“If we’re having a discussion, my focus is on the topic. I’m assuming that we’re both focusing on the content. But, with time, I’ve learned that many people focus on the relationship, and may sacrifice items in the topic to protect the relationship. For example, they may not contradict. They may not bring up their ideas because they may be different from what somebody else in a more powerful position may be saying. They may feel vulnerable in expressing something. I make sure to say upfront I value the discussion of viewpoints and being contradicted.” – Liora Haymann: Managing Director, OBM International

“How constructively you approach anything is going to be the difference-maker for you and for all those who work with you and for you. When you hit those roadblocks and it’s tempting to pivot to feeling captive or negative, I force myself to remember that the only way out is forward. Approach issues constructively and that will help you rise above the challenge or circumstance, to focus on a solution.” –Vanessa Rodriguez: Head of Community Lending & Investment, Commercial Real Estate, Wells Fargo

“When you have different cultures, there’s a lot of things that can be misinterpreted. For example, I use my hands a lot and I might find certain hand movements mean something else in another culture that I did not intend. One thing that is helpful that I’ve learned, and work with my leadership team on, is to start with your intent. Because there’s a lot about communication that doesn’t land the way you want to say it. Often, simply leading with your intent before you even start the conversation can change the ability to have difficult conversations.” – Dr. Sheena Menezes: Co-Founder and CEO, Simple HealthKit Inc

“When you’re junior and hungry, you work late, so you can take it all on. However, I think it serves your growth to start setting boundaries as you advance. I don’t have children yet, but I am still going to sign off at a reasonable time and have a nice dinner with my husband. You need to set boundaries, and sometimes, it means saying no or that you’ll look into something at a later time – as your schedule and workload permits.” – Alison Taylor: Investment Vice President, PGIM Real Estate

“In my opinion, being a true leader is not just about managing up anymore or trying to get the next job. I genuinely think I should be judged based on the teams I build and how I encourage and empower them…When I was progressing through my career, a lot of it was about me and developing my technical skill set: I’ve got to manage up, I’ve got to manage sideways. I’ve got to manage down. All of those facets still exist. But that’s the big leadership pivot people don’t realize: You don’t have all the answers. You’re there to listen. You’re there to serve and support others to be successful.” – Lola Ninonuevo: International Chief Operating Officer, Wells Fargo

“So many big decisions have been made by people who were all thinking alike. I feel it’s critical to have different perspectives on solving problems, especially big problems. More than one thing can be true. I try to remind people that it doesn’t have to be either/or. It can be and. I like to consider how we can meld ideas to come up with a good solution. If there are two opposing ideas, rarely is one or both entirely wrong.” – Rhonda Johnson: CEO, Different Like You, Inc & Acting Deputy Director, Consumer Financial Protection Bureau

“Don’t be afraid to take the road less traveled, because as you do, you will find new horizons that will take you to the next level. Finding something you’re passionate about is important because you’ll do better than if you’re forcing yourself into a career or role that isn’t the best fit for you.” – Helen Chang: Managing Director, Head of Asia Pacific ex Japan, Client Advisory Group, PGIM

“It’s a trap to believe there is a certain way we are supposed to be to be successful. For example, we equate leader mentality to an ‘early bird gets the worm’ mentality. I’m a night owl. My hours are more bartender than typical Corporate America. You’re supposed to wear heels. I can’t wear heels. You’re supposed to not talk too much about your kids. That’s the most important thing in my life! The more you can just be who you are, the more powerful that is. Whatever it is that you have that’s different, it can be something that truly makes you unique, but you can’t be scared of it. You have to let that difference shine and that takes courage and vulnerability.” – Lindsey Roy: Hallmark Cards, SVP Strategy & Brand & Motivational Speaker

Interviewed by Aimee Hansen

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Reshma Saujani: Founder and CEO of Moms First

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Reshma Saujani“I realized I’m never going to finish the fight for gender equality for my girls if I don’t finish the fight for their moms. That’s what led me to step down as CEO of Girls Who Code and start Moms First, which I had never intended to do,” says Reshma Saujani. “The reality is that the pandemic played a huge hand in that. But what was happening for women in the pandemic wasn’t going to start and end with the pandemic.”

We interviewed Reshma Saujani, founder of Girls Who Code, the non-profit organization launched in 2011 with the mission to close the gender gap in tech. For over ten years, she served as CEO, leading to change the face of programming as we know it. At the end of 2020, and spurred by witnessing the impacts of the pandemic on women’s lives, Saujani also became Founder and CEO of Moms First (formerly Marshall Plan for Moms).

Through Moms First, she is leading the campaign to transform our workplaces, our culture and our government to enable moms to thrive. Her fourth book, Pay Up: The Future of Women and Work (and Why It’s Different Than You Think) proposes clear and necessary structural and cultural changes to support women in the workplace, and puts a halt on telling women to change.

Saujani was a recent keynote ‘fireside chat’ speaker for the 2023 Catalyst Awards Conference, the premier gender equity conference for advocates of diversity, equity and inclusion. With the conference themed Accelerating Equity on All Fronts—So Women Thrive, Saujani emphasized the need to drastically change the discussion around women and the workplace. She also iterated key actions that policy makers and organizations need to take, such as family-friendly policies, paid leave, and childcare to support equity, engagement, retention and advancement among women.

Saujani spoke to us about how changing the workplace to work for women – as Catalyst has researched, advocated and reimagined for over 60 years – is really not a women’s problem.

On women in the workplace:

“At the conference, I spoke about the core shifts that need to happen in the workplace to support women in leadership. The idea of supporting women in their roles as mothers is really new for Corporate America. It’s a different conversation than the one we’ve been having, because the conversation we’ve been having is really what I call the ‘big lie of corporate feminism’: that if we just raise our hand, if we lean in a little harder, then we can ‘girlboss’ our way to the top. But that leaves out the fact that two-thirds of the caregiving work is being done by women, and that women come to work already doing two and a half jobs. So this idea of ‘having it all’ is just a euphemism for ‘doing it all.’

We have to stop trying to fix women and fix the system. We need to accept the fact that workplaces have never been built for moms, so let’s redesign them for moms now. In my book, Pay Up, I lay out some strategies that companies can actually do to support working moms.

One, it begins with supporting moms with childcare. Childcare in this country is unaffordable and unavailable. 40% of parents have gone into debt because of the cost of childcare. The reality is that childcare isn’t a personal problem that you or I have to solve. It’s an economic issue. Women cannot work without childcare. So companies, for the first time, really need to step up and start providing childcare benefits – whether that’s a subsidy or back-up care. They have to start providing that support.

The second thing is paid leave. Many companies still don’t have gender-neutral paid leave policy. In a heteronormative relationship, whether a man takes paternity leave has huge consequences for women. The more men, quite frankly, that are taking paid leave, the better for the equity in a family. Right now, the vast majority of men take fewer than ten days off after having a child. So companies need to not only offer gender-neutral paid leave policy but also incentivize or mandate it.

The third thing is the motherhood penalty. The mom bias is contributing to a huge pay gap between mothers and fathers. Studies have shown that men earn 6% more when they become a dad whereas women earn 4% less when they become a mom.”

On her shift from Girls Who Code to Moms First:

“During the pandemic, I had a new ‘pandemic’ baby and I was homeschooling my six-year-old. My entire leadership team were working moms with young children, and we were barely making it. I saw so many of my students had to stay at home and take care of their siblings, instead of going on to major in computer science at college, because their mothers were essential workers. The fact that we had a broken structure of childcare in our country was continuing the generational cycle of poverty.

Moms have really been in crisis for decades – even the fact that the United States is the only industrialized nation that doesn’t have paid family and medical leave. The fact that we’ve never made childcare affordable or available for moms. The fact that we’ve always paid mothers less than we pay fathers for doing the same exact work. If we didn’t actually solve those three things, what’s the point of even telling girls to go to college? What’s the point of even telling them they can be everything or anything when we’re just again perpetuating them in this cycle of oppression and inequality?

So I stepped down from Girls Who Code, and I’ve built Moms First, over the past year and a half, up to a grassroots movement of over half a million moms and supporters. We’re fighting for three things: childcare, paid leave, and equal pay. And it’s not just about a single piece of legislation or a workplace policy or about getting equal pay. It’s all three. They’re all interconnected.”

On the broken narrative of success:

“I think the big lie is essentially that if we only fix women, we can have equality. So again, what we keep telling women is that if you just raised your hand, if you just leaned in harder, if you just ‘girlbossed’ your way to the top… Just think about the whole conversation about equal pay. What we tell women, usually, is you’re just not negotiating well enough.

But that’s going one woman at a time rather than saying the entire structure of how we compensate women is wrong, and we actually have to build an algorithm or audit our pay policies. Those are the structural changes that we have to make instead of telling women, ‘The problem is you. You just didn’t negotiate for yourself.’

Everything around ‘the big lie’ is about making women feel like they’re the problem. They’re not the problem. The structure is the problem. Workplaces are the problem. And, even basic things like workdays are 9:00 am to 5:00 pm and school days are 8:30 am to 3:00 pm. We’re just setting women up to fail by having these structures in place that are leading to us, again, never being able to truly succeed. We’re not set up to succeed. We’ve never been set up to succeed.”

On how the future of women and work will be different than we think:

“Why it’s different than you think is that I’m not going to tell you how to fix yourself. I’m not going to tell you, yet again, how to just get a mentor, get a sponsor, or learn how to negotiate.

I’m going to walk you through the history of how workplaces have never been set up for women. And I’m going to give you strategies that are radically different than the strategies that you’ve been given. The vast majority of women that participate in an ERG are not taught how to ask for childcare. They’re not taught how to take your paid leave and not feel guilty about it. They’re taught how to learn another skillset. Get a sponsor. Be more confident.

But when you do those things, and you still feel like you’re barely making it again, you think something is wrong with you. No. Something is actually wrong with the system as it’s been set up.”

On the cultural change necessary to begin to support working moms:

“We do not value what we do not aspire to be. And being a mom, in America, is often times not something so many people aspire to be. Because, too often, motherhood in America is not seen as something that is respected and valued and dignified. Consider even the fact that we have countless school shootings and every day mothers, like me, have to drop off our children at school and not know if we’re going to see them again. That we continue to allow that to happen in this country just shows the lack of value and respect we have for the role of mothers and for our children.

So, to me, that’s cultural. Culturally, we have to become a society that says, we need to support mothers and we need to support children. Well, that means that one in four women should not have to go back to work less than two weeks after having a baby when they’re wearing an adult diaper. That means that we shouldn’t have daycare that’s not safe or that’s not affordable. We shouldn’t have parents piecing it together because, as a society, we want people to have children. Innovation dies in a nation when you have a declining birth rate, and, right now in the United States, we have a declining birth rate.”

On what women can do:

“I think that we have to fight. I think that we need to ask for what we need. I think we need to stop apologizing. I think we need to not think something is wrong with us and instead see the system as broken and demand for it to change. Right now, we’re in the middle of doing a Moms First Challenge. I joke that when we went on godaddy.com to get the URL for Moms First, it was available, because the idea of putting yourself first is very radical.

So, how do you teach that? In the first week of our challenge, we did that by having women write down all of the tasks of unpaid labor that you do. This week, we said to do something for yourself. In my case, I’ve had a horrible stomach virus where I need to be on a pretty extensive set of antibiotics, and I put it off for four years because it was never the right time. This week, I’m doing it. I’m canceling my week if I don’t feel well, and the world will be okay. So many women put off their doctors appointments and the things they need to do for themselves because we don’t live in a society that allows us to put ourselves first. We’ve been conditioned to think that that’s selfish.

Also, statistically, a lot of women will quit rather than saying ‘I can’t get on a call at 6 p.m. because that’s dinner time for my family.’ Or ‘I’m not going to travel three days a week because I have a young child.’ But they would rather quit than say, ‘hey, this is what I need.’”

On the impact she wishes for it all to add up to:

“I want to finish the fight for gender equality. And I will tell you that the most ambitious thing I’ve ever done is Moms First. It is so hard. It’s so hard and a lot of people have tried and have been trying.

But I cannot tell you how much, I believe that this – childcare, pay equity, paid leave – is central to women’s equality. I literally say, ‘why am I even bothering to tell my students to get educated when they’re going to get into the workforce and just get pushed out the minute they choose to become a mother?’

At the same time, getting these changes in place is not rocket science. So, it’s ironic. It’s not climate change, but it is climate change. It’s not as hard to move and shift behavior. It’s a policy change, but it’s so challenging for this country to move along and say, ‘yes, we must do this.’”

On the necessary cultural pivot:

“We’ve been indoctrinated to think that women are the problem or even men are the problem. Men are not even part of this conversation. They’re not the ones standing in the way of us getting our benefits or getting these support mechanisms. It’s a cultural change that we have to make. It’s the shift to seeing that childcare is an economic issue, not a personal issue – that in and of itself. If we started to say that childcare is not a personal problem that we have to solve. It is literally an economic issue that the country has to fix. If you made that one change, it would move mountains in terms of women’s economic freedom.

I think we have to decide, though, are women in the workforce a nice to have or a must-have? Nearly 60% of Americans still believe that one parent should stay at home with a child. So, that’s the cultural impediment that you’re trying to move. I always say a perfect world is where women have the choice to move in and out of the workforce with freedom. But it’s not even possible anymore to live in a one-income household. We’re almost living in the 1950s with that idea, when it was, but it’s not possible anymore.

So, if it’s not possible, knowing that, if we were to create society from scratch today, we would create a very different society. I was talking to a behavioral economist who was saying you would create more options for part-time work that was satisfying and fulfilling that paid well. You would think about this differently.

But it’s almost like we’re refusing to think about this differently. Even with the pandemic and how much society refused to accept remote work. I think something like 66% of employers are now back in the office even though we learned that flexibility was actually good for families. But the resistance towards doing something new is radical. That’s why what I am trying to do right now is so ambitious – because the headwinds against change are so strong in this country. But that has to change.”

To read more from Reshma Saujani, follow her on social media @ReshmaSaujani

Interviewed by Aimee Hansen

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On Changes After 15 Years: Nicki Gilmour: CEO And Founder, The Glass Hammer

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Nicki Gilmour The Glass HammerThe Glass Hammer was founded fifteen years ago (July, 2007) with the distinct intent of helping professional women – especially within financial services, law, technology, Fortune 500 – understand how to navigate their careers with the ultimate goal of advancing. The mission was to inform (provide expert career advice), empower (by bringing women together with events and networking), and inspire (by profiling women who have blazed the path and broken through the glass ceiling in some form). We sit down with Nicki Gilmour to discuss where things stand now as we celebrate this milestone of the longest running career advice publication for professional women.

Q: How have things developed since The Glass Hammer launched?

The world has changed significantly across these past fifteen years. But the pandemic has created the most seismic shift in how people work, how people want to work and how people live. Many people, women in particular, found themselves suddenly dropped into a very different reality as of March 2020 that included swapping the commute and the long office days for long days in front the computer and longer days in some cases homeschooling kids and sanitizing everything.

Perhaps one silver lining of the pandemic, if you can call it that when there was such sorrow and stress for so many, was the chance for all of us to understand that the future of work could happen more quickly than we realized was possible. We saw how we could switch to Zoom, Teams, Webex, Google Meet and other platforms to conduct conversations and share documents. And guess what? We still managed to do business – despite the constraints and challenges, both for individuals and organizations. ‘The future is now’ comes to mind as it is no longer a theory to work remotely as it pertains to equal or increased productivity.

Beyond the practical logistics of work, people also started to really look more deeply at their personal values. When your back is against the wall, it’s time to ask: what really matters here?

Q: What has changed for professional women in the past 15 years?

So much and yet nothing has changed for professional women.

I think the greatest thing that has changed is that people want to see their leaders show more empathy than before and that success and professionalism, as definitions, have become wider and more diverse.

Ambition remains a very personal trait that is present, to a lesser or greater degree in all people as they are individuals with personalities, specific belief and value sets and varying needs and experiences. Many ambitious women still envision a linear path to the top. But I believe that having been through the pandemic and the shift in many realities, people also understand more than ever that the definition of insanity is doing the same thing over and over again and expecting a different result. I can’t speak for any other human except myself, but I do see, observationally, as an executive coach and Organizational Development consultant, that generally people are tired of accepting the legacy status quo as the only way forward in terms of what dictates how we work and when we work as well as where we work.

With the ‘Great Resignation,’ some people have literally voted with their feet and walked out of very well-paid jobs including Sheryl Sandberg who left Meta recently. Sheryl, as we know, was the author of Lean In. Well, she’s decided to lean out. I think that says a lot. I believe this was an era of ‘celebritizing’ a handful of women and it continues as VC’s are still backing firms that do close to zero for women on a structural change level and continue to implicitly tell women to just network.

Certainly people, and some companies, have also finally decided to stop tolerating the same biases based on gender, but there is still a lack of transparency around pay equality. Just recently, Google has paid out $118 million in settlement to 15,000 women in a class-action lawsuit about gender pay discrimination. I would hope there comes a day when equality is built through solid processes and good human behaviors not litigation – however, as it seems law suits are still the most effective method, that comes at great cost to the women who bring them.

I definitely see a theme where things, that we didn’t contest in the past, are more explicit and more accessible to contest at least. We are asking companies to walk the talk on equality and meritocracy. That starts and ends with transparency. There still isn’t a consistent pathway to get to the mystery of what you’re being paid and why, depending on who you are from a biology or ethnicity perspective, as pay is not really assigned strictly on merit, experience or even qualifications in most companies.

I have spent the past few years contemplating whether breaking the glass ceiling is a redundant concept for younger professionals in the sense that people don’t want to be on the other side of that glass if the traits it takes to be successful there means assimilating to something that just doesn’t resonate at all. When what’s been holding everything up is the structural walls of rules that clearly don’t favor meritocracy, due to flawed cognitive and social constructs around who gets to lead, is the work that is needed to be centered differently? A new way of looking at this? I am not sure the work is as evolutionary in the linear sense that we all once believed it was.

Q: Say more about how you are approaching the big questions, now.

I think futurism is key now in terms of understanding what can be, as well as what has been, or what is. I think that it’s a time of considering a deeper structural review instead of incremental bricks on the old crumbling foundations. Saying that, there are 41 female CEOs in the Fortune 500 right now, or 8.2 percent, which is a record high. I do not want to dismiss the fact that incremental change is happening, but it isn’t enough in terms of impact for anyone to truly celebrate progress with any sincerity, as if this was a product it would be shelved due to slow adoption in the marketplace. The big question is, are we happy with very gradual, incremental change? And how long will it take for equality to happen? Especially when we take huge hits like the overturning of Roe v. Wade, Title IX and other various cultural backslides that hamper women from an equal existence generally, as well as specifically.

Academically, this is going back to Virginia Schein’s (et al) “Think Manager – Think Male,” which began over 40 years ago. Without knowing the human involved, people in aggregate still vote for the straight male manager as the most leader-like with real traits like productivity, competence and assertiveness. Conversely, they continually mark in the traits survey that women are less competent, productive, and assertive even though there is not a specific woman being assessed, just generally as a cognitive concept of a female manager, which is very disheartening and often the respondents are also women. This remains in play in a very real way in a workplace near you! Never underestimate the power of the cultural wallpaper and what it can do in terms of unchecked internalized misogyny.

Q: Systemically, what cracks are we seeing more clearly than ever, especially now?

It goes back to promises not kept – transparency of pay, transparency of promotional track. The entire system has never been truly re-envisioned to integrate women’s lives or value our spherical lives as a whole. There’s also the blunt fact that organizations still ignore life outside the skyscraper. It has been well-documented that women do the second shift at home and do something like 10 extra hours of housework and childcare relative to their male counterparts. And that’s not just something that occurs in heterosexual relationships. It also shows up in LGBTQ+ families, because someone has to pick up the slack. But systemically and culturally, it has always been a majority of women that do that, while expected to be superwoman at work. Kudos to the men who do it as they rarely get recognized and should be, also.

“There’s been various research studies on remote work showing that many working mothers find it quite beneficial to work remotely because, productivity-wise, it’s helpful to not commute a couple of hours a day. We should be moving to results-oriented work, because professionals know what they have to deliver. We no longer need to wear pinstripe suits, ride a train and be in an office 9-5. We have to get away from this model that was designed last century. LinkedIn is redefining what it means to be “professional,” and it’s no longer being a white man going to the office in a three-piece suit with a briefcase.

“The office is now in your head and on your computer, and the cries to get back to the office are not necessarily based in productivity claims. For organizations and leaders to ignore that employees are actually telling you what they want and to ignore the data around productivity is just basing in (disproportionately white and white male) preferences. Many people can’t understand why they’re at the mercy of their manager’s choice. And now people, who would otherwise continue to work remotely, are worrying about falling on the wrong side of proximity bias. Just as paternity leave and full maternity leave are still underutilized because the hidden penalties and state-by-state and company-by-company inconsistencies do not always support people to feel it’s in their best interest. Often women are torn about how much time they can take for maternity leave in the pressure of 24/7 work with many exhausted and typing emails close to the birthing event. I know I was writing emails right up until the delivery room as that was a badge of honor that I just don’t believe Gen Y and beyond buy into on any level.

Q: So what can organizations who want to lean in, and walk the talk, do right now?

Organizations have a place to play in this because within their sphere of influence, inside and outside of their ‘virtual’ four walls, they can create a microcosm of equality – and it’s not that hard to achieve. It comes from:

  • Being clear in your mission and strategy around DEI aspects, and other aspects such as social responsibility, just as you would decide what you’re going to do with your core product. It’s as simple as that.
  • Make your management practices transparent, clear and consistent – so everyone knows what they have to do, what flies and what doesn’t. Make sure there are explicit norms as opposed to implicit norms that are subjective.
  • Surface anything that is a covert process – meaning: in denial, not on the table for discussion, for whatever reason.
  • Make sure everybody knows their role, their responsibilities, what’s expected of them, what are their goals, and ensure their responsibilities are aligned with their ability to execute on them. Make sure their skills and abilities match the job requirements.
  • Remove as much organizational grind as you can: the barriers, hindrances, obstacles to doing the job the way that people see fit, the way each person sees fit as a professional.
  • Understand individual needs and values, beyond grouping people together based on social identities such as gender, nationality, sexual orientation, or otherwise.
  • Help your people understand what success looks like. Let them know what it means to be doing a good job here.
  • Make sure people know which direction the company is going, what the company values and what are overarching goals, and that can include societal topics: because social issues have never been more integrated into corporate life than they have been in the past two years. To leave things unaddressed is a recipe for disaster. Silence is complicit and colluding.
  • Finally, make sure that when you talk the talk, you walk the talk. Ensure that you are creating actions to meet your espoused values, behaviorally. This means coaching leaders of all genders and creeds to understand how to create and implement positive change for all employees to be engaged and performing in a high but healthy way.

It’s not actually impossible or unreachable – and this is the work that has to take place as opposed to telling women to lean in, keep their head down, and keep at it. Because the last fifteen years has shown us that change has been present, but slow.

Thank you all for your continued presence and readership. We wish you a safe, healthy, enjoyable summer season.

Interviewed by Aimee Hansen

*After this week, The Glass Hammer will be taking a publishing break until September. Enjoy your summer as we are walking the talk on our values and focusing on coaching leaders and developing organizations to connect to the human factor better via our sister site evolvedpeople.com. Enjoy our 8,000+ articles and we will be back in the early Fall.

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Caring for Children With Learning Challenges as a Working Parent

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Erin Garcia

In this Q&A, Erin Garcia, a Vice President in Controllers in Dallas, shares how she supports and advocates for her two sons while working at Goldman Sachs.

What are some of the obstacles you have encountered managing both your sons’ learning challenges?

Erin: One of the greatest challenges was explaining to each of my two sons, Cason and Cohen, how their learning and mental health challenges differentiate them from their classmates.

After his dyslexia diagnosis in second grade, Cason began losing self-confidence in reading. I explained to him that his brain is unique and that there is a special way to teach him, and we were making sure he got the specific help that he needed. Since he is a big sports fan, it helped to point out some successful athletes also happen to be dyslexic.

Cohen, on the other hand, didn’t want special attention. He didn’t want to make a big deal out of his having ADHD, nor did he want to be pulled out of class like his older brother.

Listening to their concerns helped me address their needs, advocate for them successfully, and get them both the help they needed.

What have you learned about yourself through these experiences, including most recently during the pandemic?

Erin: Before receiving their diagnoses, my children and I had a number of arguments because I thought they were being lazy with school and didn’t want to try hard enough. Once we received their diagnoses, I felt badly for having been so hard on them. I learned to be more patient.

In the early stages of the pandemic, we just tried to survive! Toward the end of the school year, there wasn’t a lot of structure so it was a “work on your own pace” sort of schedule. We fit in school whenever we wanted, which was helpful for me as I was balancing my own responsibilities in the Fund Accounting department. Once the current school year began, there was more of an adjustment.  The boys have a firm schedule to follow and have to be present in live and virtual meetings with their teachers for most of the day.

We have to do what is best for our family, and every situation is different.

How do you ‘recharge’ your batteries to meet the competing demands of work-life-parenting, and what advice would you share with other caregivers?

Erin: I talk to my friends who are also mothers, and colleagues and mentors who have experienced similar situations. My oldest started middle school this year, which has been a big adjustment. We are all navigating unchartered territory these days, especially working parents. The more we share our stories with each other, the more we feel like we are not in this alone. We are all doing the best we can.

I also have to remind myself that I need a break sometimes, and that’s okay. Everyone should take things one day at a time. Some days are good, but then you will occasionally have that rough day where a progress report comes home reflecting a low grade in a class. Our kids need to know that they are accepted and loved by everyone around them, on good days and on tough days.

How have you managed conversations with colleagues at the firm about your experience as a caregiver?

Erin: For me, honesty is the best policy. A lot of my colleagues have younger children, so these days I try to regularly check in (and made a point to do so when everyone went exclusively remote for work) and continue to be an advocate for working parents.

What would you like people to know about what it’s like to care for loved ones with mental health or learning challenges?

Erin: I think the more we talk about it, the more we educate everyone around us. It was important to me to explain to my oldest son that there is nothing wrong with him. He is intelligent. Once he understood that, he gained the confidence he needed and started engaging more in school.

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Change Leader: Deborah Lorenzen, Managing Director, Head of Enterprise Data Governance, State Street

Deb LorenzenDeborah Lorenzen is the head of Enterprise Data Governance at State Street. We caught up with her to discuss what is energizing her as we enter 2020 and what she hopes to achieve for herself and for others as a change leader for women in the workplace.

Nicki from theglasshammer (NG): Deb, we have profiled you before and you have attended as a panelist some of our career events over the years. I have always held you in high esteem as someone who walks the talk when it comes to helping other women and as a change leader for systemic issues. What lessons have you learned from 2019 and this decade generally to take into 2020 and the next decade?

Deb Lorenzen (DL): If you really want it you have to keep after it, even when it is hard. You just have to keep turning up for the fight. That said, if you are not having fun anymore, quit. That might sound blunt, but honestly, if you aren’t finding joy in what you spend much of your life doing you won’t be successful. So stop, regroup, and find the thing that gives you joy.

From a job title perspective my career path looks non-linear. I’ve always been curious about the next challenge. The strong thread that has held it together is executing on strategic change programs, whether that was acquisition or divestiture, global operating model changes, launching a new product or service into the market or closing down something that wasn’t successful, as well as the inevitable regulatory change. Diving into these change opportunities has provided the chance for me to live and work around the world, provided value to the firms and people who have been part of these efforts, and fed my own leadership journey into how operating models and organizations work.

NG: What excites you about 2020?

DL: In January 2020 I will begin teaching my first MBA course, an elective titled Executing Strategic Change at Providence College. Having spent much of my career driving major change programs it is exciting to pull all of those examples back out to consider what made them successful, and what I would do differently in hindsight. I’m looking forward to the exchange of ideas with a group of future thought leaders. Preparing the course has also been a good reminder of how much has been accomplished during my career.

NG: What trends in your industry are of particular interest to you?

DL: Right now, my focus is on Data Governance and how we help long-standing firms make the shift from application-oriented architecture to properly data-driven architecture. This is the classic example of a strategic change program where we are trying to change the engine and the tires of the bus while still driving down the highway. Fortunately, we have a fantastic team who are all focused on getting this done, and we have leadership in place who both understand what we need to do and are driving resources into place to support our goals.

NG: What is the one thing you know now that you wish you had known when you were first starting your career?

DL: There are so many things I wish I had known. Having grown up in a rural environment with more cows than people, there were very few accessible role models for working in the global financial markets so I couldn’t even have articulated that was what I wanted to do. In hindsight, I wish I had known all of this existed much earlier than I did. These days I spend as much time as I can mentoring new entrants to the financial world on how things work – how you manage salary and benefit negotiations, which lines of business or functional roles give you the most opportunity, how you find out what they are saying about you when you are not in the room so you can do something about the perception. There is no rocket science inherent to these lessons for readers of Glass Hammer, just value in remembering to ‘each one – reach one’ whenever we have the chance.

NG: What, if any, are the main barriers to success and/or challenges for women in your industry?

DL: I used to say that in New York there is so much competition they will take you out for any excuse they can find. I still believe that is true today, and not just in New York. The thing we have to keep working at diligently is making sure the successful excuses aren’t based in gender bias. Ensuring leadership understands inclusion also helps; tying compensation to actual progress is useful but imperfect. Putting daylight on hiring practices, promotion processes and open opportunities is useful as it forces leaders to think through their decisions in a different way.

NG: What advice would you give to young women in the industry or thinking about entering the industry?

DL: For new entrants I would tell them to just go for it. They shouldn’t listen too long to the stories from my generation because the rules ARE actually different now and they shouldn’t get bogged down in our histories. Newer entrants should use the network available – those of us who have been at it for 20+ years – as for the most part we’ll tell you anything you want to know about how the industry works. If we were to change anything we should simply dedicate more support to the next generation. We’re standing on the shoulders of giants ourselves, and we should give the next generation a hand up.

NG: What bright spots are there for gender equity at work?

DL: Working in the finance I learned long ago to ‘follow the money.’ On that front, the movement of institutional money toward Environment Social Governance (ESG) over the past few years is hugely gratifying. The impact is being seen right now in movement toward gender inclusion on Boards as well as investment in firms that reflect ESG goals and inclusive teams. The leverage available by focusing Institutional funds – pension plans in particular – toward ‘good’ goals is helping to make meaningful improvements in the marketplace.. At State Street we are helping to lead the move toward ESG by providing knowledge and infrastructure.

More locally, State Street has a group of ‘Leading Women’ made up of Executive Vice Presidents. They have been doing a great job of being visible and offering their wisdom and experience through lunches and speakers series. They represent a fantastic group of role models and the activities they are driving are helping to inspire a new generation of leaders.

NG: Outside of work, what is ‘sparking joy’?

DL: One of my joys is sitting on the Advisory Board for Global Female Leaders, an annual economic summit in Berlin where we join leading women from around the world representing politics, business and philanthropy to discuss the geo-political landscape and economic trends. Not only do I get to spend one long weekend each year surrounded by some of the most amazing women I’ve ever met, but I’ve also developed relationships that have provided insight and opportunity, as well as the confidence, to extend my life’s work in new directions.

On the personal front, our house is incredibly active right now, with three school-age children and all of the activities that brings, feet in two countries (my husband is Danish and I’m from California), and a full-time career. Teaching in the Providence MBA program will keep my mind active in the Spring. Beyond that I’m coaching 5th grade travel basketball as well as sitting on the Board of the travel program, and I’m co-leader of a Junior Girl Scout Troop. We are, at the behest of my eldest, fostering dogs for a rescue program here in Massachusetts, and have three puppies we began fostering at 7 days old thriving in the corner of her bedroom.

My hopes for the coming decade are to watch my children’s generation finish their education and enter a workforce that is more inclusive than we have today, with a set of clear rules for the game that are the same for everyone – a big ask, I know. For my part, my shoulder will still be on the wheel, mentoring, teaching, working, speaking truth to power about how it still is and what needs to change. And if culture can be defined as ‘how you get things done around here,’ I’ll continue driving for the continuous improvement of an inclusive culture.

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Thought Leader: Ana Duarte McCarthy, Director of Development, Corporate Partners, Forté

, ,
Ana Duarte McCarthy“I have plenty of runway left myself, but it is always still exciting to see how we can pass the baton,” says Ana Duarte McCarthy of her position helping inspire the next class of future leaders.
Finding a New Purpose

Throughout her career, Duarte McCarthy has focused on diversity and inclusion, most recently serving as a managing director and chief diversity officer for Citi. When she left in 2016, it was a good time to take stock of where her next opportunity could come from. First, she notes, she practiced the self-care we all deserve and took a couple months to travel, remained active on the board of the NJ Somerset County YMCA, and even purged closets and tackled all those small tasks that help us retain control over our personal life.

Then September rolled around, and that “back to school” feeling inspired her to figure out what was next. “I realized I felt untethered without a daily set of goals and objectives, and I missed having the opportunity to make a difference.”

A friend approached her about an opportunity to join Forté, which had been a long-time Citi partner and had a mission that appealed to her with its laser focus on increasing women in business leadership. Her other diversity work had covered a variety of communities, such as veterans, LGBQT+ and other cultural groups—all important. However, women had always been an aspect of these groups, and this gave her a chance to focus more deeply on women’s issues. That was a mission that was especially important to her, since as the mother of a daughter, she had a deep interest in assuring that her daughter had opportunities that had previously been obstacles.

Duarte McCarthy began in a fundraising role and has now moved into the position of director of development for corporate partners, where she works to identify companies that have a commitment to advancing women and express the values of diversity and inclusion. Often these forward-thinking companies are recruiting undergrads or MBA students and want to amplify their brand as a top recruiter for diversity. Having been a diversity lead for so many years, Duarte McCarthy has a special skill in talking with them about their pain points and how Forté can support them in their missions.

A Focus on Latinas

Assisting all women is important, but as a Latina herself of Dominican descent, Duarte McCarthy has a special heart for helping other Latinas. “I meet many women after conferences who might not have people in their immediate circles who can be a mentor so I try to reach out,” she says. And she believes it’s critical to break misperceptions about Hispanic women. “There’s a lot of bundling of Hispanic women together, but we cut across race and ethnicity, and there are also multiple diverse issues around socioeconomic scale and whether someone is a first- or fourth-generation student. It’s an interesting mosaic, and I believe I can support and advance the next generation of Latina women.”

One of the Forté programs she is particularly proud of is the Forté Forum, which enables women to explore the value of an MBA. They can hear from women currently enrolled in business schools and women who have completed their degrees, as well as get tips on completing the admissions process. Duarte McCarthy was particularly delighted when her 23-year-old daughter, a business analyst, came to one of the presentations to consider her future. “She’s always been supportive of me as a working mom, and it’s exciting to see her next chapter.”

More Work to Be Done

As Duarte McCarthy surveys the landscape, she points to an aspect of complacency and fatigue, as many like her have been pursuing the mantle of diversity and inclusion for so long, starting back when it was generally under the portfolio of affirmative action and/or equal employment opportunities.

Significant advances have been made, of course. For example, Forté was launched in 2001, on the heels of research on the value of an MBA for women, which comprised 25%-28% of the enrolled class, a number that has bumped up to 38% today. She is excited by this increase in women pursuing MBAs, as well as the varied career paths they choose to pursue, such as positions in supply chain management and investment banking as they truly take advantage of the breadth of careers available.

While that is heartening, she notes that there is more to be done; notably, that the pay gap persists. “This cultural aspect to pay people equitably needs a lot of attention,” Duarte McCarthy says. In addition, she says that while the drumbeat around MeToo has given people a voice, it’s unfortunate that is such a prevailing narrative in the workplace. “We have made so many strides, but our work is more important than ever.

“We have to keep up the energy because there’s still a lot of work to do,” she says. “We all have an opportunity to make a difference around D&I; it’s not for someone else—none of us can just be a bystander. We can all make a difference with how we lead and support our colleagues and those coming up the ranks.”

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Thought Leader: Lorraine Hariton, CEO, Catalyst

Lorraine HaritonBy Nicki Gilmour, CEO and Founder of theglasshammer.com

We caught up with Lorraine Hariton, recently appointed leader of Catalyst to hear her thoughts on change, gender progress at work and what excites her about her in this new role.

Nicki Gilmour (NG): What is your vision as leader of Catalyst?

Lorraine Hariton (LH): I am honored and thrilled to join Catalyst as President and CEO. My career has benefited so much from Catalyst’s work, and I am excited to have the opportunity to help write the next chapter and pay it forward to future generations. I have been involved in women’s advancement leadership initiatives throughout my career. This is a dream opportunity to give back and pay it forward in an area that has been a lifelong passion and indeed my life experience.

There’s so much I want to do with this opportunity. We are at an inflection point in our history—the #MeToo outcry combined with rapid and enormous shifts in how we work offer the opportunity to build a new kind of workplace: one in which women advance to leadership much more rapidly and intentionally than ever before. I see Catalyst leading that charge and I’m excited to be a part of this moment in history.

NG: What has changed for women in the workplace in the past 10/20/30 years?

LH: The workplace of 2018 looks very different from that of 1962, when Catalyst was founded, and will look much different 20 years from now and beyond. Rapidly changing technology and the surge of millennials and Gen Z into the workforce guarantees that advances in technology will continue to significantly change the Future of Work, including shifting demographics, automation, AI, machine learning, the gig economy, more geographically dispersed, culturally diverse teams, changing dynamics in the interaction between humans and machines, etc. The future of work will need soft skills that include empathy, critical thinking, creativity, collaboration. This will require companies to turbocharge their efforts to build diverse and inclusive teams to be competitive. The rapidly changing nature of how we work presents a real opportunity in the “here and now” for women and other marginalized groups in the workplace. It’s essential that women are not left behind in this shifting workforce and that companies are prepared to utilize all of their diverse talent.

However, despite these advancements, women continue to face barriers that are complex and ingrained, especially women of color. Harmful and misleading gender-based stereotypes and biases are alive and well. We need to make sure that the people who are coding and building the machines of the future aren’t also baking in sexist or stereotypic assumptions. Getting women into all aspects of tech, STEM, and also data analytics will allow us to create a future that works for all of us. Gender diversity in the workplace is the right and the smart thing to do. Gender based innovation means ensuring products are built by diverse people so they work for everyone. Tech companies need to be at the table partnering and taking the steps needed to bring about positive change.

NG: How do we take the onus off the individual and instead ask the firm’s to ‘lean in’?

LH: It is vital men do not take a step back in the aftermath of this global wake-up call on sexual harassment or become afraid to advocate for women. The vast majority of men at work have the best intentions but stop short of identifying as champions. Inclusive leaders encourage their male employees to challenge the status quo while also modeling sponsorship behavior. They lead courageous conversations about what concerns men have and how they can step up to become allies for women in the workplace.

NG: Tell is about your personal pathway to this work?

LH: I have been involved in women’s advancement leadership initiatives throughout my career. I’ve held senior-level positions in Silicon Valley, including serving as CEO of two Silicon Valley start-ups and holding C-level roles in sales, marketing, and engineering in public companies. Most recently, I was Senior Vice President of Global Partnerships for the New York Academy of Sciences, where I was instrumental in creating the Global STEM Alliance and its 1000 Girls, 1000 Futures program, a global mentoring initiative to help girls pursue careers in STEM.

As Special Representative for Commercial and Business Affairs at the US Department of State, I established The Global Entrepreneurship Program, the WeCreate Center for women entrepreneurs, and the Secretary’s Council on Women’s Leadership.

I’ve served on several boards of organizations committed to the advancement of women in the workplace, including the UN Women Global Innovation Coalition for Change, the Stanford Clayman Institute for Gender Research and Watermark.

My eclectic and diverse background helps me to look at the challenges, opportunities and solutions from many different angles.

My career has benefited so much from Catalyst’s work and I’m thrilled to be a part of the next chapter lending my experience to help build workplaces that work for women, and for everybody.

NG: What excites you most about the future on this topic of equality and equity?

LH: This is a critical time in our history. There is a huge spotlight on issues facing women in the workplace. Unfortunately, progress has been stalled for far too long but there’s an opportunity in this #MeToo moment to make a quantum leap ahead for gender equality in workplaces. We at Catalyst will continue to support leaders and organizations in creating inclusive cultures and opportunities that support and advance women. The best defense against sexual harassment is building an inclusive workplace culture with zero tolerance for discrimination and bad behavior.

NG: What is your advice to your younger self?

LH: I would tell my younger self to learn how to be flexible and adaptable, adept in digital literacy and interpersonal skills. I would ensure I took the time to invest in internships and job experiences. There is no longer a traditional linear “major to career” path. I would also remind myself to gravitate to organizations and cultures that support and elevate women. I started my career with IBM and returned back there after Harvard Business School because of their women-centric and women-supportive environment. I would encourage young women starting their careers to similarly seek out cultures and organizations that emphasize women’s inclusion.

NG: A big thanks to Lorraine for taking time out to speak with us and we look forward to more excellent work from Catalyst!
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Thought Leader: Grissel Mercado, Partner, Shearman & Sterling LLP

grissel mercadoBy Cathie Ericson

Elected to partnership just this past January, Grissel Mercado, shares her insight on her business, the industry and women in the law.

For more about Mercado’s background, read her Voice of Experience profile here.

A Busy Year With Many Successes

With a strong history and expertise in capital markets in Latin America, Mercado’s work there continues. Latin America capital markets have had a very interesting year; although a lot of market players thought there might be a slowdown given international developments such as Brexit and the Trump presidency, it has been a very busy year for the region, she says.

“Investors have continued to be attracted to a lot of issuers there, which has been very positive for our practice. But as I look into the future there will be more question marks with several countries going through elections in 2018. You are still prone to what’s happening socially and in politics when you work in Latin America, so it will be interesting to see what happens in 2018.” Mexico and Colombia are two countries where she has been the busiest, despite an expected slowdown.

Her toughest but most rewarding deal of the year took almost a year and half, but closed this summer. “You become so close to your clients when you spend that much time with them,” she says, adding how excited they were to complete the deal.

She is currently working on bond offerings for companies in Chile and Mexico, who are expecting to be some of the first issuers to launch transactions in early 2018. The practice has also been working on a variety of liability management exercises, including cash tender offers. And this is the time that many foreign private issuers registered with the SEC begin thinking about annual reports, which is where her corporate governance hat comes in, as she helps with prep work for those.

In the industry at large, she anticipates continued growth, even with the political and economic changes that the region is facing.

While there haven’t been too many regulatory changes per se, she anticipates her SEC registered clients will need help transitioning to XBRL, a business reporting language that uses tags for items in financial statements to allow financial information to be used interactively. While SEC registered domestic companies have been using this method for several years, 2018 will be the first year that foreign private issuers have to report in this way. The industry is also grappling to understand how the new MIFID II rules (i.e., product governance obligations applicable to manufacturers and distributors of financial instruments) will apply in the context of capital markets transactions led by non-EEA banks.

Social Issues Will Loom Large

For women, she finds that retention and promotion continue to be an issue. “Women enter law school and often even law firms as a majority, and then the ratio is completely flipped by the time we become senior associates and is even worse at partner ranks,” she notes.

She believes that law firms will retain women as they become more open to technological advances that other industries have already been using, such as work-from-home opportunities, which helps women who many times are the ones with more conflicting responsibilities, such as caring for children and elderly parents.

“If you can deliver top-quality work on time, it shouldn’t matter when and where you do it,” she points out. She sees that the millennial generation wants that for men and women. Firms will also benefit as women keep working rather than opting out. It’s vital to retain a female perspective, she says. “We view problems differently, and our clients are pushing to have these viewpoints at top levels.”

She appreciates that now as a newly-named partner, she has more of a voice in retention and recruiting and looks forward to a big year of transition. “Clients are used to seeing me lead transactions, but there will be an adjustment as I become the sole lead, and we’ll all work to make the transition as seamless as possible,” she says.

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Thought Leader: Elizabeth Diep, Partner, Asset and Wealth Management Practice, PricewaterhouseCoopers

Elizabeth DiepBy Cathie Ericson

Don’t be afraid to pursue the big assignment or job even if you think you don’t meet 100 percent of the qualifications,” says PwC’s Elizabeth Diep. She urges women not to limit themselves because although you won’t always hit it out of the park, you learn from every experience, and often even more from the ones that don’t succeed. “Big jobs are scary but the only way you learn is by practicing.”

And, she cautions, if you say no too many times, people will start assuming you’re not interested and you’ll no longer be on the list for consideration. “Along the way you have to take calculated risks.”
As an assurance partner in the audit practice, Diep focuses on alternative investment clients, which include endowments, hedge funds and private equity clients, ranging from highly complex, multi-national companies to smaller, locally based equity funds. As Diep puts it, that is her “day job,” as she is also involved in other firm business, including assisting with people initiatives as a Human Capital (human resources) partner, where she focuses on helping a group of about 150 more junior colleagues navigate the firm, providing guidance on their development, education and experience.

A Changing Industry Full of Challenges

Because the asset management world within the financial services industry is still fairly male dominated, Diep sees it as one ripe with opportunity. “If someone wants to thrive and be challenged every day, this is the field for them,” she says, noting that in an ever-changing industry, there are constantly new financial instruments being created. “As the world gets more complex, the industry gets more complex,” she says.

The industry also is appealing to anyone with an international mindset. “The opportunities that lie abroad push you to be more open to the world because we’re interacting in a global society every day.”

The industry also calls for flexibility since your day can change with every phone call or email articulating a new client need. “I might have a client interested in investing in transportation out of Greece and Panama so I need to see what resources PwC has to support those needs,” she says. And that’s why success lies in delivering relationships before you need them.

“You’re not just working with people in your office, but other partners and members of the global network. You have to be resourceful and know who can help you find the answer you need. Those connectors become critical to your success.”

She says that today’s workforce is different from generations past when people were expected to have all the answers. Today, it’s more important to know which expert can help you get the answer rather than being expected to know everything personally.

Flexibility Remains a Challenge

Diep cites a recent PwC survey of millennials that explores the importance of flexibility, and unfortunately, she finds that while many firms promote work/life balance, employees still worry that taking advantage of these programs could have a negative impact. And that translates into a pervasive feeling among many women, especially working moms at the mid-career level, that the industry is too demanding if they want to perform well and also have a family.

One program designed to help is the “He for She” program, of which PwC is a sponsor with a goal of having 80 percent of the men join. “At the end of the day it’s primarily men sitting around the table so we have to get them involved in this conversation and advance women’s causes,” Diep says. “When we move away from just women talking about the challenges but have men supporting them, it will be a game changer.”

She says that she has been bolstered in her own career by mentors and sponsors who served as role models with a balance that she has learned to emulate. “It’s not always equal,” she says, noting that sometimes they were working late hours but then they still always made time to disconnect on vacation or take off for their kids’ birthdays. “They gave me an example of how you can use the day how it works best for you, to balance all your key life relationships, while always completing high-quality work.”

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Thought Leader: Deborah Lorenzen, Managing Director & Chief Operating Officer, Global Product & Marketing; State Street Global Advisors

Deborah Lorenzen 2To Deborah Lorenzen, talent is everything for a business’ success.

Since 2008, acquiring talent in the financial services sector has largely been a buyer’s market, where it’s been easier for firms to pick and choose the talent they want to bring in. Consequently, they haven’t had to spend as much time or effort making sure people are enthusiastic about joining the firm. But, says Lorenzen, savvy firms know they need to be prepared for the next cycle, which she calls the “War for Talent.”

“We can dramatically improve the front end of our hiring process, but we don’t spend enough time on it,” she says.To that end, she is currently focused on improving three different phases of the talent acquisition cycle.

Making Job Descriptions More Inclusive

First, she says that job descriptions need an overhaul, recommending that they be stripped of corporate speak and made more gender neutral. “Beyond articulating the job requirements, job descriptions are a marketing document, since they are read by hundreds of people who never even apply,” she says. “The majority of those who read them are people in my industry, and I want to leave them with a positive impression of my company.”

One remedy is tools that use an analytical perspective to identify which words attract which people by mapping the factors of a job description that ultimately led to a certain type of hire.

Entering existing job descriptions into the tool yields instant feedback, such as which words are likely to attract female or male candidates, which can then be used to incorporate more balanced verbiage. One lesser-known fact is that if your job description is filled with acronyms, research shows that men are more likely to apply even if they don’t understand the corporate jargon.

“We’re excluding large swaths of the population by how we word things,” Lorenzen says.

Maintaining Consistency Throughout the Interview Process

While competency-based interviews have become the norm, there is still a need to improve consistency. To that end, Lorenzen has helped create tools that lead to better interviews. Managers can quickly select the key competencies for the job they are filling, which brings up a set of pre-worded questions that will give them insight into candidates by prompting specific, measurable examples specific to that skill, such as “Give me an example of a time that you displayed teamwork.” For a trait such as global acumen, managers can choose different questions based on the depth of expertise required by the position level.

After key questions are chosen and position specific questions are added, the manager then can print out the job interview form and use it consistently with all of their candidates. “It allows them to compare apples to apples rather than having different experiences with different people,” she says. “The tools should be intuitive so we set our managers up for success.”

Pre-boarding for Success

In the United States, there is typically a two-week lag from when someone accepts the job until they actually start. In other parts of the world, people might have up to 90 days, a lengthy transition period when companies must engage with their future employees throughout the gap.

Among the support her division supplies are links to company information, “acronym decoders” and details on what to expect the first day. “This is about emotional engagement, so our new hires believe they have made the best decision of their career.”

For example, new employees will learn what to expect on the first day, and what activities to expect in the first 10 days. Setting expectations improves time-to-productivity, which is a key metric for the business.

Another key component of pre-boarding is discussing the wide variety of Employee Resource Groups available. “We want them to know that our company is proud of our diversity and whatever their gender, orientation, culture or background, there’s someone like them here already.”

Data Analytics Drive Decisions

In addition to a focus on better hiring, Lorenzen is immersed in technology infrastructure and data analytics. “Data is the key to understanding both our current environment and our next move,” she says. We can use data to identify products which are high performers and which aren’t meeting expectations, and track those products in real time.

Since decision science is a relatively new field, Lorenzen and her team are constantly tasked with finding the best talent. “They have to come in with diversity of thought, which comes from diversity of experience,” she says. “We must have a variety of perspectives in the room since there’s constant demand to improve the technology architecture.”

A Word for Women

Finally, Lorenzen believes that women have a special role in the industry to help others. And while she sees this as a responsibility, the rewards are mutual. “It gives me great joy to watch young people come up in the organization,” she says.

And she adds, there are few industries that are more competitive. “People are always going to be looking to take you out, but it’s not because you’re a girl, it is because you are competition. We need to raise our voices, as uncomfortable and dangerous as it can feel, when we see bias.” Why? Because for our businesses to thrive in this rapidly changing landscape we need the smartest, most innovative team we can muster, which by definition brings a diversity of thought to the table. This is an obligation for senior executives, including women.

The views expressed in this material are the views of Deborah Lorenzen of State Street Global Advisors through the period ended April 13, 2016.

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street express written consent.

State Street Corporation, One Lincoln Street, Boston, MA 02111-2900

© 2016 State Street Corporation – All Rights Reserved

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