By Melissa J. Anderson (New York City)
After studying government and international relations at Georgetown, Palmina Fava knew she wanted a career with an international scope. “But I wasn’t sure what that would be,” she explained. “So I went to Fordham Law School, wanting very much to litigate cases, be in court, and be in front of Boards of Directors.”
When she began her career at DLA Piper, Fava continued, “I became much more involved in complex commercial matters and IP litigations. In preparing clients for trial and in going through the litigation process, I began understanding more about a client’s business and became much more involved in working with clients on corporate governance matters.”
“Then Enron and Sarbanes Oxley happened,” she said. “There was much more of a focus on corporate governance and business ethics, and my practice became international in scope.” Fava’s career began taking on the global focus she had always sought, and within a few years, about half of the investigations she handled took place abroad, involving anti-corruption issues.
“About two years ago, I moved to Paul Hastings to work with the Firm’s global compliance practice group.” As co-chair of the Global Compliance and Disputes practice, Fava says she is proud of the reputation she has been able to establish with top-level clients.
“I’ve been very blessed to work with and learn from amazing lawyers and clients. I’m proud of having gained the trust of Fortune 100 clients and proud when they tell me I’ve provided them with practical, business-savvy advice. They have a choice in what law firm and lawyer to use, and I’m very proud when I get that call, that they trust me to work with them on critical compliance and anti-corruption issues.”
She continued, “I’m working on a lot of interesting investigations outside of the US. And I find it’s important to understand the politics, the economics, and the cultural issues of the country in which your investigation is focused.”
“The perspective of the witness I’m interviewing is completely different, so coming at it from a US perspective is not as effective. I try to step outside my experiences and put myself in the shoes of the people whom I’m interviewing,” she explained.
She says she has also learned over the years that, while passion for an issue is important, it’s also important to create boundaries between her personal feelings and her work. “Being passionate about a client’s case doesn’t mean you need to be invested emotionally in it.”
She explained, “Taking a step back and investigating an issue or analyzing it as opposing counsel, a regulator, or a business person would makes you a better negotiator and advocate for your client.”
Office Politics – Five Steps to Make It Joyful
Ask A Career CoachThe Joy of Office Politics. Oxymoron? Almost every leader I talk to hates office politics and sees it as a necessary evil to get things done. What if we discovered steps that would actually help make office politics joyful? Would you try them?
Here’s a recent client situation that inspired me to write this blog post. My client is a senior leader in a new role in the Supply Chain in a manufacturing company. She is responsible for major transformation of the Supply Chain function. The new CEO of her division is holding her accountable for making it happen. She has a dotted line reporting relationship to the Supply Chain Head who is the official Sponsor of the transformation project. The problem is that the Supply Chain Head was recently demoted in position and does not have a great relationship with the CEO. The transformation project is to dismantle some of what the Supply Chain Head created over his 20+ year career. He’s not exactly thrilled, as you might imagine. He is unconsciously sabotaging the efforts my client is responsible for.
She has been told by the current CEO she needs to be the “watchdog” to report back any sabotage. However, she needs the Supply Chain Head’s help, as most of the people implementing the changes work for him. Who should she be loyal to? How can she be successful? The “icky” politics of this is enough to get her to avoid the situation all together.
Does this situation sound familiar? Do you know anyone who is accountable for results where they have no direct authority and political agendas get in the way? Not you? Maybe a friend you know?
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Is the Opt Out Myth Officially Defeated?
Work-LifeRecently Pew Research released the results of a new study showing that career aspirations are increasing in women. According to the research, the importance women aged 18-34 placed on career aspiration increased by 10% between 1997 and 2011. Not only that, the importance of career aspirations to men aged 18-24 only increased by 1%. In fact, the study showed, more young women (66%) than men (59%) named “being successful in a high paying career or profession” as very important or one of the most important things to them.
And it’s not just young women. The importance of a high paying career to women aged 35 to 64 also rose significantly in the same time period – from 26% to 42%. That’s an even bigger leap than for younger women. Men of the same age group only saw a 2% increase in the importance of a high paying career.
The ambition gap is officially closed. But what’s really surprising is how much more quickly women’s ambition seems to be growing. Will companies be able to keep up with women’s soaring career goals? And now that we can clearly see that the importance women place on their career is equal to (surpassing, even) men at every age, can we finally lay the opt-out myth to rest?
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How to Talk about a Risky Career Move with Your Partner
Managing ChangeYou’ve just found out that you’re receiving a promotion—along with the extra hours that it entails. Or maybe you’ve been asked to join a new firm, or tackle an assignment abroad. While new career opportunities are cause for celebration, they can also raise complex work/life issues that need to be resolved with family members, particularly your partner or spouse.
Major job changes, while exciting, can also be risky—sometimes even more so for partners and other family members than for the person with the opportunity. Therefore, it can be difficult for ambitious women to announce to their significant other that they are considering a risky career move.
With a PhD in molecular medicine and leading a team of scientists, Teresa Bryan had been on the rise in the biotech industry. Yet she wanted to start a family-owned business. Because the change would entail giving up her current earning potential, as well as career growth and experience in her industry, Bryan was afraid such a drastic and high-risk career change would not be well-received by her husband. She describes the process that she went through in discussing the possibility with him:
“We found it best to talk things out and put all the pros and cons on the table. We also were sure to be completely honest with one another regarding expectations and pitfalls. We knew that we’d be losing a large source of income, likely need to delay having a child, have insanely busy work and travel schedules, and would need to drastically reduce our discretionary spending. But, we were also gaining the opportunity to be in control of our future—this was the most important benefit for us.”
Bryan says the most critical point was to get her husband on board with 100% buy-in to the commitment. “We agreed that this was the risk we wanted to take, and understood the implications,” says Bryan. “He was highly supportive since he realized the new career move was in the best interest for our family.”
Not everyone’s situation goes as smoothly as Bryan’s. What are the best strategies to handle this possible communication powder keg to ensure the best possible outcome for all involved? Read on.
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Voice of Experience: Palmina Fava, Partner, Litigation, and Co-Chair, Global Compliance and Disputes Practice, Paul Hastings
Voices of ExperienceAfter studying government and international relations at Georgetown, Palmina Fava knew she wanted a career with an international scope. “But I wasn’t sure what that would be,” she explained. “So I went to Fordham Law School, wanting very much to litigate cases, be in court, and be in front of Boards of Directors.”
When she began her career at DLA Piper, Fava continued, “I became much more involved in complex commercial matters and IP litigations. In preparing clients for trial and in going through the litigation process, I began understanding more about a client’s business and became much more involved in working with clients on corporate governance matters.”
“Then Enron and Sarbanes Oxley happened,” she said. “There was much more of a focus on corporate governance and business ethics, and my practice became international in scope.” Fava’s career began taking on the global focus she had always sought, and within a few years, about half of the investigations she handled took place abroad, involving anti-corruption issues.
“About two years ago, I moved to Paul Hastings to work with the Firm’s global compliance practice group.” As co-chair of the Global Compliance and Disputes practice, Fava says she is proud of the reputation she has been able to establish with top-level clients.
“I’ve been very blessed to work with and learn from amazing lawyers and clients. I’m proud of having gained the trust of Fortune 100 clients and proud when they tell me I’ve provided them with practical, business-savvy advice. They have a choice in what law firm and lawyer to use, and I’m very proud when I get that call, that they trust me to work with them on critical compliance and anti-corruption issues.”
She continued, “I’m working on a lot of interesting investigations outside of the US. And I find it’s important to understand the politics, the economics, and the cultural issues of the country in which your investigation is focused.”
“The perspective of the witness I’m interviewing is completely different, so coming at it from a US perspective is not as effective. I try to step outside my experiences and put myself in the shoes of the people whom I’m interviewing,” she explained.
She says she has also learned over the years that, while passion for an issue is important, it’s also important to create boundaries between her personal feelings and her work. “Being passionate about a client’s case doesn’t mean you need to be invested emotionally in it.”
She explained, “Taking a step back and investigating an issue or analyzing it as opposing counsel, a regulator, or a business person would makes you a better negotiator and advocate for your client.”
Read more
Turn Passion into Profit
PassionsIn our careers, dreaming is serious business and the driving force for transformation. Without vision companies fail, and without our personal vision, our dreams, our lives can become mundane, redundant, even stagnant. When we are in touch with our passion we have more energy, enthusiasm, and creativity. In a business context “passion sells.” Wouldn’t you rather do business with people who enjoy what they are doing rather than someone who is just doing a job? Passion and productivity go hand in hand. Happy people make happy employees and happy employees go the extra mile, producing greater results.
How do you turn passion into profit? Do what matters and has meaning for you and the money will follow. But do it with passion and it may become easier to accomplish. A visionary leader articulates their vision with clarity so people understand what it is and with passion so others want to join them. Passion is contagious. It can help you sell your ideas or products to others. Passion inspires people to do great things, to go beyond normal limits and to soar to new heights.
Consider these tips for success:
Passion is the fire in your belly. It is when you are compelled to action. Passion is the juice that will help you move mountains to accomplish your dreams and goals, personally and professionally. Passion without a plan can be wasted energy, but used to move your dreams forward, it is dynamite. Also, passion is a time management tool, because when you are doing what you love, it often gets done faster. The secret to a joyful life is to schedule more things into your everyday life that have heart and meaning for you.
People are inspired by enthusiasm. Find your passion and bring it to your work and life. Here’s how:
On the subject of money, it does not have to be the obstacle stopping your from pursuing your dream. People often say, “I’d pursue my dream if I could only afford it.” So I ask, “How much money do you need?” The most common answer is “I don’t know… but I know I don’t have enough.” It is the fear of failure that keeps us from sitting down with a pencil and assessing our needs. It is doubt and concern that keep us from exploring other creative options such as bartering or trading services.
Grow your career, your team, your family and your own well-being by igniting your passion and sharing it with others. Increase profit and productivity by inspiring people to dream big. Demonstrate that your company is a unique and fabulous place to be, because you encourage people to bring their passion to work. When this happens, everyone wins.
Marcia Wieder, CEO/Founder of Dream University is the author of 14 books and an acclaimed speaker on goal setting, visionary thinking and team building. To receive 3 powerful ebooks go to: DreamUniversity.com/gift
Attitude Adjustment: Making Gender Initiatives Stick
Managing ChangeRecently, Marie Claire published an interview with Sallie Krawcheck, one of her first since her ouster last fall from Bank of America, where she was President of Global Wealth and Investment Management.
Krawcheck expressed her dissatisfaction with programs designed to develop women. She said:
So-called “fix the women” approaches amount to little if companies aren’t willing to address the systemic, cultural reasons keeping women out of top jobs.
It’s about changing attitudes – and that’s much more difficult to manage than setting up networking or development initiatives.
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Advocating for Women Leaders
Mentors and Sponsors“We want it to be unremarkable that the number of women in the boardroom at least equals that of men,” said Anne Izzillo, President of the Financial Women’s Association, during her opening talk at the organization’s annual dinner this week. “We want it to be unremarkable to have senior women running major US and global organizations.”
When these things become unremarkable, Izzillo believes, it will signify that women are getting the same opportunities and encouragement as men to lead, that it won’t be a surprise or a big deal when a woman beats the odds to become the boss – because, by that point, the odds won’t be stacked against women in the first place.
She said that the only way to break down the last barriers standing in the way of women’s leadership is through active sponsorship – advocacy and outreach from the top for talented women who deserve a shot at a stretch assignment or challenging role so they can show off what they can do.
The dinner, which honored Paula Gavin, President of National Urban Fellows, and Maria Bartiromo, Anchor of CNBC’s “Closing Bell” and Anchor and Managing Editor of “Wall Street Journal Report with Maria Bartiromo,” celebrated the mentorship and sponsorship of women. After all, these relationships are at the core of how people advance in the workplace. Getting more women to the top will require careful advocacy for talented women by those who are already there.
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How to Ask For More Support at Work
Expert AnswersIf you’ve ever found yourself overwhelmed by your to-do list at work, you’re not alone. And while you quietly know you’re capable of doing the things on the list, you might wonder whether you should be doing some of them—especially those things that aren’t making the biggest difference for your company or for your career.
If that’s you, then it’s time to ask for more support at work.
Does the thought of asking bring up fears of being seen as incompetent, needy, not a “team player”? Consider that an old school mentality. Today, identifying lower value work activities and getting them handled elsewhere is an essential skill in increasing your value and contribution to the company without increasing your time and stress. A great business rightsizes the work to match the talent, so if that’s not happening for you in your workplace, do it yourself and ask for help. Here’s how.
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Do Powerful Women Have a Responsibility to Challenge the System?
Managing ChangeMore control over work arrangements – that’s what 30% of senior-level Wall Street women said they would negotiate for besides money if they were starting a new job. This question was posed in a survey of over 550 high-level Wall Street women who were invited to attend last week’s Wall Street Women Forum®, a half-day, invitation-only conference.
Following more control over work arrangements, 27% said they would ask for responsibility for key clients, and 22% said they would request a seat on a key committee or task force. The findings of the survey fell in line with a key theme of the conference – women are seeking more power over their schedules, their workload, and their companies.
On the other hand, almost nine out of ten (87%) respondents agreed with the statement, “Men are paid for potential while women are paid for performance.” When the results of the survey were revealed, many women at the Forum nodded their heads in agreement. Women are working in a system that gives an advantage to men, simply for being men (although 19% said that while they agreed with the statement in general, it didn’t necessarily apply to them personally).
During her keynote discussion, Mellody Hobson, President of Ariel Investments and Chairman of the Ariel Investment Trust, said she felt senior-level women should be more vocal about the state of gender inequality on Wall Street – although she acknowledged that the economic environment makes that difficult.
“I’m a glass half full girl. I’m an eternal optimist and I feel like we’re going backward,” she said, referring to the disproportionate number of layoffs of top women during the economic crisis. “I think because of the crisis, everyone wants to keep our place and we’ve gotten a little quiet.”
She added, “We have to be more explicit about what’s at stake.”
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Building Business Relationships: Women, Power, and Golf
Featured, Managing ChangeEarlier this month the Masters reminded us of the not-so-subtle bias that women continue to face in the corporate space. Even when they have reached the highest echelons of business, women still contend with outright barriers to networks of power.
And make no mistake, golf and business go hand in hand. Golf has long been the game of business people. It has social cache, while at the same time, it’s not too physically demanding. It’s good for building the rapport, conversation, and friendly competition at the core of strong business relationships.
But, the majority of women avoid the game, and, according to Leslie Andrews and Adrienne Wax, the authors of the newly published book Even Par: How Golf Helps Women Gain the Upper Hand in Business, they’re missing out on the opportunity to build strong relationships that can help advance their careers. “Golf is a great way to build relationships with clients, prospective clients, people within your company. If you can talk about golf, all of the sudden, you have a reason to talk to the CEO or your boss two levels above you,” Wax explained.
She added, “It’s not only our point of view, but statistics support the fact that golf has significant advantages to businesswomen.” She pointed to a survey by Mass Mutual of 1,000 woman who played golf. “Seventy-three percent agreed that playing golf helped them build relationships and network for business,” she said.
Golf can be a tool for advancement, but given its historical and sometimes current practice of outright discrimination, should women bother? Does learning to play golf to help your career mean assimilating to a boys’ club culture of business, or is it about taking control, using every tool at your disposal to get ahead? It’s a tricky topic.
One thing’s for sure – considering the rising clout of women in the corporate space, maybe golf needs women more than women need golf. “I can’t think of a man in business who wouldn’t want to network with Virginia Rometty,” Wax remarked.
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