chrissiBy Chrissi McCarthy, Founder of Constructing Equality (Liverpool, UK)

In the summer of 2005 I was asked to go to Uganda with an English charity to help build a school in the small village of Keyo in the North of the country, just outside of Gulu. It was an area struggling to progress itself, having been caught up in the civil war that is still affecting the country and was badly in need of new educational facilities to help educate the next generation and provide a future.

Having spent four years in the UK construction industry working as a site engineer before taking a recent promotion into site management, I was asked to set out the two buildings before the rest of the team of English volunteers arrived to help with the general labouring.

In that first week there was only me, the two fundraising coordinators, and the English appointed site manager representing the charity, the rest of the workforce were local Ugandans working on the project at that time.

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iStock_000004944174XSmallBy Elizabeth Harrin (London)

If you complete timesheets, you’ll know how important it is to make sure the numbers at the end of the month look good. After all, you’re judged as much on the time you spend at work – which might even be billed to clients – as you are on what you actually do.

But what would happen if we scrapped the insistence on measuring time spent at the desk and focused solely on results? Surely the working world would be a happier place, with employees judged and rewarded on their contributions, and able to go home early if they meet their objectives before 5pm. Unfortunately, there are also issues that come with adopting this type of working culture. Employees could focus on their targets to the detriment of being a team player. It could increase competition in the office and have a damaging effect on morale. These are some of the reasons that managers fail to embrace an organisational culture that looks at performance metrics as more than just hours chained to your laptop.

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Business meeting.By Melissa J. Anderson (New York City)

On Friday, Goldman Sachs hosted its third annual interbank conference for multicultural women in the financial services, Brokering Change. The event, which featured distinguished speakers on the subject of diversity and inclusion, was opened by Edith Cooper, Goldman Sachs’ Managing Director and Global Head of Human Capital Management.

Cooper said, “To be the best we have to have diversity – it’s a business imperative.” She continued, “And financial services in the US will not be the best unless we embrace differences.”

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Feminine Business 2By Hua Wang (Chicago)

Women face a variety of obstacles in their efforts to advance to upper management. The majority of upper management are made up of men, and bosses tend to promote people like themselves. The absence of performance feedback, mentoring and formal career guidance can further hinder women’s career progression. Below is a guide to the five questions women need to ask in order to get the next promotion.

How Do I Talk About My Strengths?

Bragging is often seen as a dirty word, but effective self-promotion can significantly help you land a coveted job or advancement. Due to cultural factors, many women are uncomfortable with taking credit for their accomplishments and fear that touting themselves may backfire.

During job interviews, for instance, men are much better than women at crisply describing what differentiates them. Women should know what the choice assignments are, speak up for them, and let influential people know what they’ve done.

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Successful business people standing together at officeBy Melissa J. Anderson (New York City)

“We have to redefine what it means to be a successful man and a good mother,” said Joan C. Williams, Distinguished Professor of Law and Director of the Center for WorkLife Law at the University of California, Hastings.

Williams, who has just published a new book on the subject of work/family conflict, Reshaping the Work-Family Debate: Why Men and Class Matter, believes that there are several gender and class related inconsistencies that are keeping both women and men from achieving their best at home and work. Williams explained, “While women are under pressure to be good mothers, always available to their children, men face gender pressures, too. Men are judged, to borrow a quote from feminism in the 70s, ‘by the size of their paycheck’ —which makes it very different to draw a line in the sand and say, ‘I need to go home to my family.’”

While the “good mother ideal” is problematic for women in the workforce, men now face similar inconsistencies. In the past, Williams said, men were culturally expected to work long hours to live up to the “provider” role – which fit right in with workplace expectations of what a good worker looked like. But now, men are faced with a new cultural ideal: that of the “nurturing father.”

Williams explained, “Men are now caught between two ideals.” The workplace ideal for men has not yet caught up with changing notions of masculinity at home. And women are unlikely to find male support in changing the structure of the workplace until that workplace supports the new needs of men too.

“Until gender pressures on men change, things aren’t going to change for much of women, either.”

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cathinkaBy Melissa J. Anderson (New York City)

“I think financial services is a very P&L based industry. It can scare women away, but it’s a great way of proving what you’ve contributed,” said Cathinka Wahlstrom, Managing Partner at Accenture‘s New York Office.

Wahlstrom, who is also a member of Accenture’s CEO Advisory Council continued, “We need more women in P&L. It’s one of the aspects of my job that I like most, and when your contributions are very clear, you can make changes and improvements a bit faster.”

“You really have a voice,” she added.

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Beth 005Contributed by Beth Collinge of CTG – a division of ILX Group plc.

This week’s news was dominated by the G20 meeting in Seoul, increasing concern over Irish debt, Europe’s inability to agree on its 2011 budget and an EU-wide patent, problems in both Boeing and Airbus aircraft engines, and the release of Aung San Suu Kyi, the Burmese opposition leader.

Economic Backdrop

  • Global equities fell from recent highs, due to tensions in the eurozone and the increased possibility of further Chinese interest rate rises.
  • The euro dropped 2.4 per cent to $1.3691, the biggest weekly loss since August on concern that so-called peripheral European countries will struggle to repay their bondholders but made small gains at the end of the week on speculation the European Union will bail out Ireland. The yield difference, or spread, between Irish 10-year securities and comparable bunds reached 652 basis points, or 6.52 percentage points, the highest ever. The spread on 10-year Portuguese notes and bunds rose to a record 484 basis points.
  • US Treasuries rallied after the Federal Reserve Bank of New York said it would purchase $105bn of bonds by December 9, reversing an earlier sell-off. The purchase amount, the first of a massive monetary easing programme dubbed “QE2”, was in line with many analysts’ expectations but still provided a boost to US Treasuries. The $105bn includes both new purchases and reinvested cash.
  • Sugar fell 23.5 per cent at the end of the week as speculators pulled out of the market.
  • Copper prices hit an all-time high of nearly $9,000 a tonne, driven by Chinese buying.
  • Gold reached a new nominal high during the week, as Robert Zoellick, the president of the World Bank, suggested “employing gold as an international reference point of market expectations about inflation, deflation and future currency values.” and added that markets are “using gold as an alternative monetary asset today.”
  • The Bank of England increased its inflation forecast last week. In its quarterly inflation report the Bank said inflation, which hovers at 3.1 per cent as measured by the consumer price index (CPI), is expected to rise to about 3.5 per cent by the end of the year, before falling back towards the end of next year. It forecast that growth would reach about 2.2 per cent next year and then rise to three per cent by 2012. Yields on ten-year gilts jumped 14 basis points to 3.18 per cent from 3.04 per cent before the report was released and sterling rallied to over $1.60 against the dollar and to over €1.17 against the euro, as the markets priced in lower expectations of further quantitative easing (QE).

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iStock_000011802750XSmallBy Melissa J. Anderson (New York City)

I know, I know.

It seems a little too early to start thinking about turkeys, or sugar plums for that matter.

But being caught off guard during the holiday season is the best way to get stressed or sick. Whether or not you yourself celebrate Thanksgiving, Christmas, Hanukkah, etc., the end of the year usually means parties, networking drinks, and family gatherings. And if you have children, you’ll be doubly busy.

Think ahead now and stay above the fray! Here’s our professional woman’s guide to a relatively frazzle-free November and December.

  1. Start Planning Your Calendar Now

    True story: For a few summers in college, I worked at a large craft supply store – working the register, designing store displays, and stocking merchandise. Mid-July every year, as soon as we packed up our Independence Day craft supplies, up went the DIY Christmas ornaments and decorations.

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iStock_000001124874XSmallBy Melissa J. Anderson (New York City)

Earlier this week, the National Council for Research on Women hosted a discussion on women and money at JP Morgan Private Bank. The event featured four notable panelists as well as a conclusion by Jacki Zehner, Vice Chair of the Women’s Funding Network.

The panel discussed the next steps in getting more women into the financial services sector, keeping them there, and getting to them to the top. Zehner explained, “We are moving from a place of less power to more power, and shifting from a moral argument… to an economic one.”

She added, “There is a tremendous amount of research that fuels our activism.”

The panel included Rosie Rios, Treasurer of the United States; Michelle Clayman, Founder, Managing Partner & Chief Investment Officer, New Amsterdam Partners LLC; Joe Keefe, President & CEO, Pax World Management LLC; and Rebecca Patterson, Managing Director and Global Head of Foreign Exchange and Commodities, J.P. Morgan Private Bank. The panel was moderated by Deirdre Bolton, Anchor, Bloomberg Television, and Co-host of “Inside Track.”

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Joe_KeefeBy Melissa J. Anderson (New York City)

“Pax World is very focused on the notion of gender equality as an investment concept,” said Joe Keefe, President and CEO of Pax World, the first US mutual fund to focus on environmental, social and governance factors (ESG) in investment analysis and decision making.

“Our women’s empowerment platform includes applying a gender lens to all of our funds, while our Global Women’s Equality Fund is the only mutual fund in America focused on investing in companies that are global leaders in advancing gender equality and women’s empowerment. Additionally, our proxy voting policy is straightforward: if the slate of directors is all male, we withhold support and send a letter to the company explaining why and encouraging them to embrace gender diversity.”

He continued, “And it goes beyond putting more women in the boardroom or senior management. Investing in women and girls is a critical strategy for promoting sustainable development and alleviating global poverty.”

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