by Erin Abrams (New York City)
Last week, we posited that women are being hit harder by job loss than men in this recession. This week, we bring you some compelling evidence for that theory. On July 22, 2008, the Majority Staff of the Congressional Joint Economic Committee, led by Senator Charles Schumer and Rep. Carolyn Maloney issued a report with their findings. Called “Equality in Job Loss: Women Are Increasingly Vulnerable during Recessions,” this report argues that women began losing jobs in the recession of 2001 and never fully recovered in the labor market, making this downturn all the more painful.
In the 2001 recession, job loss was greatest in industries such as manufacturing, trade, transportation and utilities, professional and business services and information technology, areas in which had all made great gains before the downturn. In 2008, increasing cuts in the financial sector have rolled back gains that women have made on Wall Street. While women still don’t make up a proportionate number of employees in finance, some high profile women, like Zoe Cruz of Morgan Stanley and Erin Callan of Lehman Bros, have been the first to take the fall in tough times on the Street.
These kind of changes have reverberated up and down the corporate ladder, and have caused some to argue that high profile women in finance are discriminated against because of gender stereotypes. For example, in a down economy, ideas among male executives that women in finance are not “tough enough” to weather the storm, or an unspoken policy of cutting back on access to flex-time and maternity leave have made financial jobs less hospitable to the best and brightest women.
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Everybody’s Workin’ on the Weekends
Work-Lifeby Sima Matthes (New York City)
In one of my colleague’s cubicles, there a cartoon by the brilliant and irreverent Scott Adams hanging over the desk. The cartoon has his protagonist, Dilbert, remarking to the company’s blood drive sponsor “You’ve already taken everything I have…” and the sponsor saying “There’s a six pint minimum,” or something like that.
Undoubtedly, we’ve all felt that we’ve given everything to our company, our co-workers, and our bosses at one time or another — but at least we had the weekends to look forward to. In Tammy Erickson’s recent article on the Harvard Business Publications web page, she asked the audacious and provocative question of whether we even need weekends. Her point is that in this age of telecommuting and what she calls “asynchronous” work, where we can work anywhere, at anytime, weekends as they currently are defined may not be as necessary as once thought. “I’d like to see companies re-think the idea of a pre-set “week day” and a “weekend” and look instead at which jobs actually need synchronous activity with what frequency. If the job doesn’t require it, why not let the worker decide his or her own schedule?”
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Work-Life Balance is a Sticky Floor
Work-Lifeby Pamela Weinsaft (New York City)
In Rebecca Shambaugh’s book, It’s Not A Glass Ceiling, It’s a Sticky Floor, she identifies seven key areas where women get “stuck”. Chief among them—and no surprise—is striking the balance between our work and personal lives.
She says if our lives are out of control, and checking to make sure that we’re working for a purpose or just for the sake of working. “Living a balanced life,” she says, “fosters the resilience we need to be successful leaders,” yet “83 percent of women with jobs [agree] that they have a hard time balancing work and family.”
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Women on Top = Women Throughout
Breaking the Glass Ceilingby Sima Matthes (New York City)
A recent study by Catalyst provides evidence that gender diversity at the top of major corporations leads to increased financial performance. Additionally, the report states that the more women a company has had on their board of directors in the past, the more female corporate officers it will have in the future.
The Catalyst study, Advancing Women Leaders: The Connection Between Women Board Directors and Women Corporate Officers, was released in July, and validates what many of us have suspected: that there is a clear and positive correlation between the percentage of women board directors in the past and the percentage of women corporate officers in the future. This report applies a mathematical formula to predict the proportion of women in staff roles based on the number of women in leadership.
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Voices of Experience: Christine Bazanowski Scaffidi, First Vice President of Commercial Lending Services at Commerzbank
Voices of Experienceby Jessica Titlebaum (Chicago)
The Glass Hammer recently spoke with Christine Bazanowski Scaffidi, First Vice President of Commercial Lending Services at Commerzbank, who, refreshingly, cites her parents as her most important professional role models. From her corner office overlooking the Statue of Liberty in New York Harbor, she recalled dinner conversations from when she was growing up during which her father discussed the staff he managed and the challenges they faced. She also remembered her mother reminding her to “bloom where you are planted” when Christine voiced frustration at being limited to an administrative role when she started with Commerzbank 20 years ago.
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If It’s Not Bleeding, And It’s Not Burning, It’s Not An Emergency
Intrepid Women Seriesby Sima Matthes (New York City)
I am crouched down, my face pressed against the back of my partner. It’s dark, and hot, and I am unable to see past my protective mask. It’s noisy—crackling and creaking all around, the sound of dripping water overhead—and yet strangely quiet. We advance, holding onto the hose, and hoping that we’re going to get to the fire before it gets any larger. I’m terrified and exhilarated. I can’t clear my head, so I scream—a deep, primal scream—and then, suddenly, I know what I’m supposed to be doing again.
We find our way toward the source of the heat, click the switch, and exit the exercise. Outside, I join my class of fellow firefighters, dirty, stinky and dripping with perspiration and condensation from the inside of our masks. We wait to be debriefed, then gear up for the next “evolution.”
This is not for the faint of heart, and I wonder how I got here.
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“Interview Bootcamp”
NewsGet a taste of the SixFigureStart Interview Bootcamp at a special preview teleclass on Thursday, July 31, 7p EST
Call-in number; 712-775-7100
Access code: 151675# (you must press the pound sign)
Ask questions about our Interview Bootcamp approach and hear some of the tips that we cover: Learn how the interview process starts well before you arrive…Hear what interviewers really think about thank you notes…
Feel free to invite your friends. Call lines are limited so register early to ensure access.
SixFigureStart is now offering “Interview Bootcamp” just in time for the Fall on-campus interview season. 4 Wednesday’s from Sept. 10 – Oct. 1, 7pm – 8pm EST, on how to practice and master the interview process.
Cost: $200 for all four teleclasses. Just like Princeton Review decodes the SAT, we break down typical interview questions for you, so you know what interviewers are really asking and how you can stand out. Practice with us, and not your dream employer, at the SixFigureStart Interview Bootcamp. To ask questions and to register, please email us at: info@sixfigurestart.com or 212-501-2234.
Caroline Ceniza-Levine
212-372-0277
Life Coach www.thinkasinc.com
Career Coach www.sixfigurestart.com
Recruiter www.redseeds.com
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The Myth of the Opt-Out Revolution Among Professional Women
Newsby Erin Abrams (New York City)
Last week, we posited that women are being hit harder by job loss than men in this recession. This week, we bring you some compelling evidence for that theory. On July 22, 2008, the Majority Staff of the Congressional Joint Economic Committee, led by Senator Charles Schumer and Rep. Carolyn Maloney issued a report with their findings. Called “Equality in Job Loss: Women Are Increasingly Vulnerable during Recessions,” this report argues that women began losing jobs in the recession of 2001 and never fully recovered in the labor market, making this downturn all the more painful.
In the 2001 recession, job loss was greatest in industries such as manufacturing, trade, transportation and utilities, professional and business services and information technology, areas in which had all made great gains before the downturn. In 2008, increasing cuts in the financial sector have rolled back gains that women have made on Wall Street. While women still don’t make up a proportionate number of employees in finance, some high profile women, like Zoe Cruz of Morgan Stanley and Erin Callan of Lehman Bros, have been the first to take the fall in tough times on the Street.
These kind of changes have reverberated up and down the corporate ladder, and have caused some to argue that high profile women in finance are discriminated against because of gender stereotypes. For example, in a down economy, ideas among male executives that women in finance are not “tough enough” to weather the storm, or an unspoken policy of cutting back on access to flex-time and maternity leave have made financial jobs less hospitable to the best and brightest women.
Read more
How to Drive a Steady Stream of New Opportunities into the Funnel
NewsMost sales executives would agree that having enough opportunities in the pipeline at all times is the single most important thing their reps can do to ensure that they meet quota. Effective prospecting and qualifying is key to ensuring your pipeline does not run dry, but with so much time being spent on existing opportunities, it is a challenge to consistently generate new ones, particularly in today’s economy.
Who Should Participate:
* Sales Managers
* VPs of Sales
* Marketing Managers
* Salespeople
PropelGrowth invites you to attend a complimentary Opportunity Generation webinar on Thursday, July 31, at 2:00pm (EST), which will introduce a framework to help you and your sales team consistently drive a steady stream of new opportunities into the funnel.
To Register
Put On Your Confidence Cloak
Expert Answersby Jane Lucken (London)
Love it or hate it, Ally McBeal created a buzz as it shattered various corporate taboos. While it’s hard to relate to that fictional, skinny TV lawyer, many successful women have admitted to feeling some of the same anxieties and concerns of that character. A recurring image was a shrunken, child-size Ally sitting at the head of a boardroom table with little legs dangling over the chair.
The ‘impostor syndrome’–the fear that someone might find out that you don’t really belong at the table–is by no means exclusive to women. Everyone at some stage has felt his or her confidence disappear at the moment when he or she needed to be taking the lead. It’s just that women haven’t always had the training like men have–from the playground onward—to bluff things out. Watch little boys playing – the one with the loudest voice, biggest stick or steely determination leads the gang. Girls tend to be more social: popularity and loyalty drives the election of leaders.
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Ask-A-Recruiter: Showcasing International Experience
Ask A RecruiterContributed by Caroline Ceniza-Levine of SixFigureStart
I recently returned to the States after 7 years of living and working as an in-house attorney in Japan. (I am fluent in Japanese.) U.S. employers seem to be thrown off by the fact that my resume/experience is very Japan-heavy. How should I address a language expertise/long experience in a country other than the States if I don’t want to be limited by that in the job search?
This question is really about framing what you have done in the context of what you want to do. A specific skill or experience does not necessarily limit you. It may give the recruiter a predisposition, but that is up to you to change. The questioner is responsible for translating her Japan experience to whatever she wants to do. She cannot assume that the recruiter should understand the value of the experience in and of itself or that the recruiter will know how to translate the experience to the job at hand.
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