Contributed by Jeffrey Cohn and Jay Moran
Many women today worry about what it takes to reach the top. They want to know what they can do to become better leaders.
The old paradigm said that they should adopt a traditionally “masculine” style or set of traits. Very few experts believe that now. In fact, when it comes to important leadership attributes, recent research shows that women have a natural advantage. Where they still suffer (like men) is in trying to understand the source of this power. Now as much as ever, both genders need help with their leadership development efforts.
Just as important – albeit less discussed – is knowing how to choose better leaders. In a way, not having the answer to this question produces the same effect as not knowing how to leverage one’s personal abilities. After all, when we do a poor job of selecting leaders, it stunts our own careers. When a board of directors hires the wrong CEO to run an organization, and that individual fails, it reflects negatively on everyone. When a division president picks a less-than-stellar candidate to manage one of her teams, she will be held to account for that group’s subsequent lack of performance.
Yet, most people don’t focus on this side of the issue. As a result, even today’s best organizations commit some serious errors when it comes to important leadership selection decisions.
The first mistake stems from not knowing what qualities to seek in potential leaders. For decades we have been told that a magnetic personality, or Ivy-League education, or certain style, make all the difference. They don’t. None of these factors is a reliable predictor of leadership success.
Other times we focus on qualities that do matter, but we don’t go far enough to seek a healthy balance. For example, we gravitate toward individuals who possess enormous passion and vision, but who are lacking in good judgment. Or we promote individuals with enormous cognitive skills, but who lack enough empathy to handle sticky social situations.
The second big mistake we make when trying to judge leadership potential is the use of insufficient assessment techniques. In other words, even when we know what to look for, we don’t know how to look. We rely on backward-looking interview questions, or inappropriate personality tests, or letters of reference from those who simply cannot predict how a person will perform in a fundamentally new position. Even the perennial favorite among promotion criteria – prior performance – is not a good indicator of future leadership success. At best, it tells only half the story. A solid manager with ten years of experience in marketing, for example, might be poorly suited for a generalist role that will require her to lead an entire division.
In our book Why Are We Bad at Picking Good Leaders? the two of us answer these crucial “what” and “how” questions. Based on more than fifteen years of experience working with premiere executive education programs and some of the best organizations in the world, we explain how to identify the very best leaders. Here are some highlights that will help your company do a better job in this area…
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Voice of Experience: Sarah Lee, Managing Director, Global Head of Fixed Income Derivatives Legal, Bank of America Merrill Lynch
Voices of ExperienceBy Melissa J. Anderson (New York City)
“I do really believe that once you get to a certain level of seniority, it is important to encompass into your role the development of other women,” said Sarah Lee, Managing Director, Global Head of Fixed Income Derivatives Legal, Bank of America Merrill Lynch.
Lee, who has spent her career developing award-winning expertise in derivatives law, is also passionate about the importance of passing on guidance and opportunities to other women.
She continued, “Mentoring… is critical for getting women into senior roles in the industry – and as women who are senior, we must bear that in mind.”
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Stepping Stones to Success: Charting Your Course to the Corner Office
Expert AnswersWhile it may not seem like breaking news, women are still underrepresented in corporate boardrooms. A recent survey by the Alliance for Board Diversity revealed that white men hold 73% of the board seats at Fortune 1000 companies (up several percentage points from previous years), white women only hold 15% of board seats, and minorities just 13%, respectively. Are women losing what once looked like their corner on the corner office?
Why don’t women in particular have more of a voice in corporate America, and why aren’t there more in management or executive positions overall? The same ABD study noted that companies with more diversity at the top are actually linked to better financial performance. It’s no wonder, since they’re capitalizing on 50% of the population and 50% of the workforce – and know the importance of including them in leadership and decision-making.
As a female business leader myself, I know this to be true. While coaching executives and CEOs at major corporations across a wide range of industries, and I’ve come across many leaders, both men and women, who “get it.” We have certainly come a long way, but we have much further to go.
When I started my first career in TV news several decades ago, I was one of the only female reporters in a fairly male-dominated field. It was hard to be taken seriously, and it was very frustrating. It was clear that as a woman, I had fresh perspectives and different experiences that could have been an asset, had those qualities been used to their fullest potential. Women in general are a unique brand; they’re inclusive, communal, consensus-building, multi-tasking workers who focus on getting the job done by checking their egos at the door. We are the true definition of a “transformational leader,” and should be breaking through the glass ceiling at an alarming rate – but we’re not.
It’s communicating those advantages to the rest of the world where we often fall short.
As a woman, you can actually thrive through these economically turbulent times if you have the right stuff, you get into the right company that appreciates what you bring, and you stand out among the other male and female leaders of your organization. You have to be willing to step up, to climb the ladder even higher than you have already.
Here are five ways you can really stand out:
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Voice of Experience: Viva Hammer, Principal, KPMG Washington National Tax
Voices of Experience“I’ve been trying to get my driver’s license in the US for seventeen years,” began Viva Hammer, Principal at KPMG Washington National Tax. She continued, “I took the written test when I was pregnant with my daughter. Two weeks ago she graduated college and a week later I passed my road test.”
The story is emblematic of the careers of many women, Hammer said. “Sometimes for women, your career can seem like a long road with lots of detours. You need a lot of faith – or desire – to believe you’re going to make it.”
Hammer, a native of Australia, moved to New York City two days after graduating law school without a job prospect in sight. Now, twenty years later, with a high profile career in US tax law, having founded several non profits and begun her book Choosing Children – and, now with her driver’s license – Hammer can say she has made it.
“Never give up,” she exclaimed. “Never, never, never, never!”
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Changing Families, Changing Workplace Needs
Work-LifeIn June, PwC hosted its Diversity Leadership Forum, entitled “Business works when life works: Flexibility in a hyper-connected world,” in Washington DC. The Forum was a day-long conference intended to amount to a graduate course in diversity leadership, remarked Reggie Butler, Managing Director, PwC’s US Office of National HR Operations – Transformation.
Jennifer Allyn, Managing Director, Office of Diversity, PwC, asked, “How can we as leaders support the needs of our people and really get that competitive edge?”
One of the biggest ways workplaces are changing is to better support the needs of today’s families. Not only is the definition of family evolving, but as more women enter the workforce and achieve top roles, so are the responsibilities of family members. PwC’s panel on “Meeting the Needs of Modern Families” set out to determine how today’s employees’ needs are changing as more voices come to the work/life conversation.
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Happy Independence Day!
NewsHere in the US, The Glass Hammer is taking a publishing holiday. It’s the Fourth of July, and we got the memo to barbecue!
Reflecting on 2011 so far, we’ve profiled almost fifty successful women – and we’ll continue to do so, with some really inspiring women coming up in the next few weeks. We’ve got more informative and empowering content ahead for this summer and fall as well, plus some very exciting events in store. And we’re also excited about launching our first white paper later this year on women in technology.
But mainly, we’re your community, and we want to hear more from you. What are your career goals for the rest of 2011? Be sure to join our social network and subscribe to our weekly newsletter to ensure you stay connected and join in the conversation!
Also, we are delighted to welcome our dynamic new team member Jewells Chambers, an engineering graduate of Rensselaer Polytechnic Institute and an AmeriCorps alumna. Jewells is taking on the role of Community Manager and Events Coordinator.
Finally, we’re looking for contributors to our Intrepid Woman article series. The series chronicles the stories of professional women stepping out of their comfort zones passionately and courageously. How have you challenged yourself physically or emotionally lately? What was the outcome? What has your adventuresome, limit-pushing experience taught you about yourself, and how has it helped you professionally? Tell us your story! Get in touch with our editor Melissa Anderson at melissa@theglasshammer.com to learn more.
We look forward to seeing you all soon!
10 Time-Saving Apps and Web Sites for Working Moms
Work-LifeIt seems like working moms have to make dinner appear like magic, save the day like super heroes, and multitask like they’re more than one person. Now, to aid in accomplishing these feats is their magic wand and super tool: the smartphone. Whether it’s an iPhone or an Android, these fantastic treasures of technology can use apps or the internet to help you decide on dinner, make a list, find a gift, get in a workout, make sure you’re paying the lowest price, or even watch your favorite show on the go. Below we detail 5 apps and 5 web sites that can help busy working moms manage their lives.
Apps
1. Epicurious
“Feed us, feeeeeed us!” No, that’s not the call of zombies, but rather of your hungry family. Everyday they have to eat, but some days it’s easier to come up with a recipe than others. Get the Epicurious app (for iPhone, iPad, Android, and Nook) for ideas for what you (or your kids, or your better half) can make for dinner. From the simple and quick meal, to the complex and time demanding dinner. Need to pick up a few things to accomplish your culinary masterpiece? The Epicurious app also contains a shopping list function.
2. Netflix
For those pockets of time that crop up when you’re on the go (waiting at the DMV, picking up your daughter from soccer practice, taking the subway to work), catch up on your favorite shows (including every episode of Grey’s Anatomy) and movies through the Netflix app (available for iPhone, iPod, iPad, and Android). It’s also a nice option for entertaining the the kids while you grocery shop or run errands in the car.
3. Remember the Milk
To-do lists, grocery lists, sports schedules, music schedules, and more. You’ve got a lot to keep track of, and a lot to check off, and the Remember the Milk app is here to help. It offers the option to send yourself reminders by email, text message, or instant messenger. Use it on your iPhone, iPad, or Android phone.
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Ms. JD Celebrates Education and Empowerment
Women and PhilanthropyAs the light faded outside the offices which overlooked the Statue of Liberty last week, a team of professionals gathered at Sullivan & Cromwell LLP to celebrate women’s successes. The event honored Ms. JD’s New York City chapter and its new Global Education Fund, founded last year to assist women in developing countries in becoming lawyers.
In its first year, the Fund highlighted their support of two women, Joaninne Nanyange and Monica Athieno, as they attended law school in Uganda. In a video comprised of interviews over Skype, the women described the challenges they overcame and their single-minded devotion to achieving their goal of making a life for themselves in law. Nanyange hopes to leverage her hard-won education to become a human-rights activist, while Athieno wants to become a judge.
In a country where only 45% of women have access to any type of schooling, and men are more than twice as likely to have an opportunity to attend any type of higher education, these successes change the landscape of a developing nation like Uganda.
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What Should You Look for in Your Mentor?
Mentors and SponsorsWe’ve all heard it before: Mentoring is crucial for business success and dramatically increases one’s own chance for success. Having a mentor can lead to valuable business contacts and contribute to conceptual and technical knowledge, but why then do so few women actually get mentored? The National Survey on Women and Work, commissioned by Marie Claire and Everywoman, found that 66 percent of the study’s 3,000 UK female respondents believe that mentoring and networking are important for furthering their career, though a whopping 72 percent had never been mentored.
Marie Royce is co-founder of GenderStrategy, a communication training program that assists workplaces with diversity training. Early on in Royce’s business career, she wasn’t lucky enough to have a mentor. She did, however, have a high-ranking female boss that told her she could accomplish anything. Just knowing that someone believed in her was a tremendous motivator. So much in fact, that when Royce noticed that women and minorities were not getting promoted as quickly as they should have, she started a mentoring program in the company to help her associates connect with those who could provide them with the tools they needed to excel.
“Mentoring didn’t happen early on in my career, so I had to make it happen for others,” Royce said. “Mentors are crucial because they can give you insight and be your biggest champion when you’re not around. It’s a person who’s always looking out for you and looking to help you. They can help position you and give you a heads up when new positions are opening up or new divisions are under development.”
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Succession Planning: Why Companies Are So Bad at Picking Good Leaders
Men Who "Get It"Many women today worry about what it takes to reach the top. They want to know what they can do to become better leaders.
The old paradigm said that they should adopt a traditionally “masculine” style or set of traits. Very few experts believe that now. In fact, when it comes to important leadership attributes, recent research shows that women have a natural advantage. Where they still suffer (like men) is in trying to understand the source of this power. Now as much as ever, both genders need help with their leadership development efforts.
Just as important – albeit less discussed – is knowing how to choose better leaders. In a way, not having the answer to this question produces the same effect as not knowing how to leverage one’s personal abilities. After all, when we do a poor job of selecting leaders, it stunts our own careers. When a board of directors hires the wrong CEO to run an organization, and that individual fails, it reflects negatively on everyone. When a division president picks a less-than-stellar candidate to manage one of her teams, she will be held to account for that group’s subsequent lack of performance.
Yet, most people don’t focus on this side of the issue. As a result, even today’s best organizations commit some serious errors when it comes to important leadership selection decisions.
The first mistake stems from not knowing what qualities to seek in potential leaders. For decades we have been told that a magnetic personality, or Ivy-League education, or certain style, make all the difference. They don’t. None of these factors is a reliable predictor of leadership success.
Other times we focus on qualities that do matter, but we don’t go far enough to seek a healthy balance. For example, we gravitate toward individuals who possess enormous passion and vision, but who are lacking in good judgment. Or we promote individuals with enormous cognitive skills, but who lack enough empathy to handle sticky social situations.
The second big mistake we make when trying to judge leadership potential is the use of insufficient assessment techniques. In other words, even when we know what to look for, we don’t know how to look. We rely on backward-looking interview questions, or inappropriate personality tests, or letters of reference from those who simply cannot predict how a person will perform in a fundamentally new position. Even the perennial favorite among promotion criteria – prior performance – is not a good indicator of future leadership success. At best, it tells only half the story. A solid manager with ten years of experience in marketing, for example, might be poorly suited for a generalist role that will require her to lead an entire division.
In our book Why Are We Bad at Picking Good Leaders? the two of us answer these crucial “what” and “how” questions. Based on more than fifteen years of experience working with premiere executive education programs and some of the best organizations in the world, we explain how to identify the very best leaders. Here are some highlights that will help your company do a better job in this area…
Read more
Movers and Shakers: Jacqueline Allen, Senior Vice President, Finance, Equity Reporting, North America, Citi
Movers and ShakersJacqueline Allen, SVP of Finance, Equities Reporting, North America at Citi, said the achievement she is most proud of is going back to school for her MBA. She explained, “I finally took the leap after having breakfast with the CEO of Equities at Citi. It was three years ago, when Citi was entering the most tumultuous time of the downturn. The message I took away was that I needed to be the best I could be to propel my career. So I took inventory of myself and realized that to compete in the changing environment, I needed more education.”
Now that Allen has completed her MBA, she is looking for the next opportunity on the horizon.
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