Beth Waldman of Genpact Risk & Analytics says, “Sponsorship is a key thread in my career, specifically in how I was thought of and connected with people that ultimately became my managers. Sponsorship to me went on to mean trust in me and my character and knowing that an introduction is one thing and the rest is up to you. Sponsorship can really set you up for success in your role, so when you have it, take full advantage.”
Beth started her career in 2000 with a job in advertising, at a Madison Avenue agency called DDB, known for its work with major brands like Hershey’s, Johnson & Johnson and Pepsi. The Bank of New York was her primary client and she worked her way up from group assistant to account executive. Beth was recruited by them, finalizing the switching of her path to the client side early in her career.
Beth relays how the early part of her career journey showed her how sponsorship can work, since the person who hired her in her first financial services job, saw her potential and continued to advocate for her once she was inside the bank. She comments,
“At The Bank of New York, I cut my teeth in financial services with RFP writing and some course work, then made my way into the corporate marketing organization, supporting and working on campaigns across several different lines of business including custody, alternative investments and institutional banking.”
After a short lived stint in advertising Prime Brokerage at the ill-fated Lehman Brothers, she moved into marketing in the financial services technology industry, mostly under the umbrella of FIS (then known as SunGard). The string of experiences there of corporate marketing and communications, demand generation, re-branding, and thought leadership creation led her to Genpact in 2014.
At the start of 2019, she made a major move, inside Genpact, going from marketing to strategy in the risk practice, focusing on financial crime compliance. The remit expanded to include all risk services, whether advisory and consulting, analytics or financial crime.
Today, she is the Strategic Initiatives Leader for Genpact Risk and focuses on engagement with key industry analysts and building out a risk & analytics advisory council. She comments,
“I’ve gone from leading small to mid-size, junior to mid-level, co-located, diverse, international teams to being an individual contributor that works closely with leadership. I appreciate the independence and the massive change in dynamic as I realized I enjoy a seat at the strategy table. It is good to understand what is important to you.”
Right now, Beth is thrilled to be scaling up Genpact’s risk & analytics advisory council and she is taking a program she built from a 1.0 to a 2.0 version with the full support of practice and company leadership. She is now focused on risk in financial services, in particular, regulations for banks and other companies handling payments; controls concerning financial crime compliance are the focus, albeit indirectly, of the work of the practice team. She adds,
“With a deep dive into this industry, the work I am involved with ultimately combats terrorist financing, human trafficking, and other crimes spawned from abuse of financial institutions. There is a virtuous nature to the work at the end of the day that I’m proud to be part of.”
Relationships Matter
Beth states that she is proud of the fact she has been recruited for each professional role she has held, including a few jobs that were created expressly for her. She comments that she believes that doing a good job and then keeping in touch with her clients, colleagues and managers is useful,
“I always keep up relationships, even if it’s using LinkedIn to stay connected to sponsors of mine. I have learned and have benefited from the value of networking. At the end of the day I believe it’s based on having strong rapport with my managers, colleagues and other stakeholders. More than once, a past connection/work relationship helped secure a new role for me when the new hiring manager sought out an endorsement for me and my character and work ethic.”
Thinking about advice to her younger self, Beth reflects that she singles out one thing: to be mindful that those around us have all had their own path to get where they are. She opines that respect is a valuable currency and establishing rapport with those you work with, especially outside your immediate team is valuable and always worthy of your time.
“You never know when you may find yourself in need of a sponsor, ally or someone to coach you – whether situationally or otherwise. Managers that spent months recruiting you can leave unexpectedly and you need to stand confidently on your own inside a new organization, as soon as possible.”
What have you learned that you want to share?
“My biggest learning moment was realizing frustration was stemming from boredom, when I was no longer learning in my role; that realization gave me the courage to seek out a new role and a new way of working entirely. I now realize I need to create and to start things and make them real; I prefer to be part of the change.
“Waldman also talks about pushing back, saying no and being authoritative without being interpreted as overly aggressive, as common challenges she has had and seen in others. Further to that, often being the only woman or one of very few women in the room is the reality but it doesn’t have to be a barrier. She offers,
“Don’t shy away from some level of self-promotion and showcasing your successes. You have to have them together (like a show reel) to access when needed.” She adds,
“Lead with your gut and your knowledge; don’t be intimidated if you can’t check every box of experience. Be realistic that no one is a rock star at their job on day one. A good attitude and willingness to get things done will serve you well. Have confidence in your own ability.”
Walking the Talk- role models to reality
Waldman admits that earlier in her career, any time she saw woman in a leadership position in the many financial institutions or other large companies she has worked for, she couldn’t help but gravitate towards them as she found female role models helpful. She wants to pay it forward herself and is currently part of the Women’s Leadership Program for AVP level women across her company of nearly 100,000.
“There are over 300 of us to start, with 30 ultimately making the final phase into a VP promotional pool of candidates. It’s my second leadership course for this band level at Genpact. In prior organizations, I was nominated for and took full advantage of various leadership and other programs. More than once I was sent to presentation-focused classes, where you had to present on camera and live in front of a room of people you were meeting for the first time.”
Outside of work, after a 30 year hiatus, Beth is playing piano again, taking lessons with her daughters who are eight and six. She enjoys travel and recently, she and her husband made it to Red Rocks in Colorado to see live music and states that her ultimate adventures are those with their children; skiing with her family being is her latest and greatest proud parent moment.
Seven ways to make 2020 a year without harassment of women at work
NewsIn 2017, an American actress, Alyssa Milano, tweeted: “If you’ve been sexually harassed or assaulted write ‘me too’ as a reply to this tweet”. The Twitter message went viral and triggered one of the largest contemporary movements against abuse of power, assault and harassment. The #MeToo movement provided visibility and continuous public scrutiny to the cases of abuse of power, sexual harassment and misconduct in the workplace. However, it has also highlighted the paucity of options open to women to report problem behavior in the office. Even though, it was effective for celebrities to use their public profile and social media to highlight their appalling treatment, it isn’t necessarily an option for everyone. Here are the seven ways to spend 2020 and the years ahead without harassment and sexual misconduct at work.
Call out inappropriate behavior if you see it in the workplace
We still need to deepen our understanding of the nature of sexual harassment and identify all types of inappropriate behavior that should be no longer tolerated in the workplace. According to the UN survey (2018), less than 2% of the sexual misconduct cases contain attempted or actual sexual assault in the workplace. The remaining 98% include being subjected to sexual stories or jokes, offensive remarks about body and appearance, attempts to draw into a discussion on sexual matters, gestures or use of body language of a sexual nature and touching. Be aware that all these actions belong to sexual misconduct in the workplace as even the least severe of them can cause long-lasting psychological damage and harm your productivity and wellbeing at work.
Ensure that your employer takes the threats of sexual harassment seriously
The #MeToo movement advocates changes to the laws, policies and regulations surrounding sexual harassment and assault, for example, instituting protocols that give victims the ability to file complaints and report predatory behavior without retaliation, as well as the elimination of non-disclosure agreements in the cases of sexual misconduct. The practical steps recommended to be undertaken by organizations include the recognition of inappropriate behavior, the declaration of a zero-tolerance culture on sexual misconduct and acknowledgement of male domination and the need to increase the presence of female leadership. Companies are, or at least should be, refreshed to the importance that the reports and investigations of misconduct should be treated proactively and robustly, with feedback to victims, survivors and the general public.
Ensure that your company has right toolkit to raise a complaint
There are social, cultural and practical barriers to reporting sexual harassment, abuse and misconduct. It can be very difficult to report misconduct in the office face-to-face or via email because the unwanted recipient of the harassment may feel awkward about discussing it, may be uncertain about how the complaint will be received or might wish to complain about someone who is in a position of power or authority over them. Fortunately, we have seen the creation of a market for new digital solutions of harassment reporting which hopefully will help make the complaint raising process easier and empower harassment victims to report all levels of inappropriate workplace conduct. For instance, a London-based technological start-up, Vault Platform, designed a “TrustTech” end-to-end platform that includes the employee app, corporate case management hub and data analytics and helps to support accountability and safety in organizations. This product empowers employees to speak up when they encounter misconduct.
Nurture the new working culture
The technical innovations alone won’t eradicate harassment from the office. The implementation of technological solutions to tackle harassment need to be interlinked to continuous improvement of organizational culture and personal accountability. To move forward the change in organizational practices and culture the creation of psychologically-safe and respectful working environments need to be emphasized. The lack of psychological safety in organizations generates fear and prevents employees from being effective, resourceful and creative. Psychological safety of individuals needs to be placed at the center of developing safe, inclusive and non-discriminatory working environments. The culture of effective innovation in organizations starts from securing psychological safety of employees, valuing human capital and creating transparency for the balance of power, respect, empathy and non-tolerance of abusive behaviors.
Sign up to kitemarks, codes of conduct and professional campaigns
We have also seen increased opportunities for companies to signal their values through schemes like #HeForShe campaign and #OvertoYou kitemark. Launched by UN Women in 2014, the #HeForShe campaign invites people around the world to stand in solidarity with women to create a visible and united force for gender equality. The #OverToYou Kitemark promotes the work organizations undertake to tackle sexual harassment in the workplace. The priority of workplace ethics has also raised in the codes of conducts and standards of many professional bodies, such as the Association of Chartered Certified Accountants (ACCA) and the Chartered Financial Analyst (CFA) Institute.
Find creative ways to learn more and take inspiration
The #MeToo movement, toxicity and complicity in working environment together with the need for further female empowerment were among the main themes of popular culture in 2019. This brought several inspiring movies and TV series to watch to stay tuned for the #MeToo agenda. For example, a powerful TV drama The Morning Show with Jennifer Aniston and Reese Witherspoon shows authentically the complexity of workplace power dynamics and the deep psychological damage of sexual harassment. Another inspiring example is Bombshell with Charlize Theron, Nicole Kidman, and Margot Robbie, revealing the true story of how the culture of impunity at Fox News has been unchecked for decades and finally tackled by the acquisitions of 23 known victims. In addition, the New York Times reporters Jodi Kantor and Megan Twohey published She Said: Breaking the Sexual Harassment Story That Helped Ignite a Movement, documenting the origins of the #MeToo movement and their investigation of Harvey Weinstein’s case.
Stay conscious
Despite the obligations of employers, regulators and society to ensure non-violent working environment, your safety in the workplace starts with you. Stay empowered by knowing that feeling safe at work is your fundamental human right and learn about the ways to identify and report on unhealthy power imbalances and misbehavior and the instruments to protect yourself.
Guest Bio:
Dr Galina Goncharenko is a Lecturer in Accounting at the University of Sussex Business School. Her research engagement project “The impact of harassment reporting technology on organisational accountability and psychological safety in the workplace” aims to move forward the change in organizational practices and culture emphasizing creating psychologically-safe and respectful working environments. The project facilitates the LinkedIn community “Organisations Without Harassment” to share effective practices and develop better methods of reducing workplace harassment.
Guest contributor views that are not necessarily those of the glasshammer.com – all rights reserved.
Claudine A. Chen-Young, Partner, Katten
Voices of Experience“It was remarkable how many young female associates even from outside of my group sent emails or called to congratulate me. It was really an ‘aha’ moment because I hadn’t recognized just how much of a role model I was for them,” she says.
That led her to focus her attention toward mentoring and sponsoring women associates in meaningful ways on a broader scale, an emphasis she continues today.
Ability to Pivot Leads to Success
Currently a structured finance and securitization partner at Katten, throughout her career Chen-Young has successfully navigated industry highs and lows—from surviving the financial crisis to developing and executing sophisticated deal structures and innovative transactions. She credits her professional resilience and ability to thrive during economic downturn to the personal relationships she had built and her track record for providing valued counsel, combined with a willingness to reinvent the types of transactions she could handle.
“Very quickly I was able to provide different services that were broader in scope than what I’d been doing before, and that ability to adapt and reinvent myself was critical to my success,” she says.
As partner, Chen-Young has extensive experience with securitizations of all types of residential mortgage loans and mortgage-related assets. In addition to securitizations, she advises issuers and underwriters in connection with a range of asset financings as well as asset purchase and sale transactions.
Looking at Diversity Through a Broader Lens
To Chen-Young, diversity means cultivating a culture of inclusion and empathy, which starts by looking past similarities and differences in one another. “We can understand others’ experiences without them being exactly like ours,” she says.
To that end, she says there is a propensity to try to get matched with a mentor who’s just like you, but that’s not always necessary. Instead, she believes that others should follow in her footsteps: “I wanted the mentor who would take me under his or her wing and champion my development substantively and professionally, regardless of our other similarities.”
She acknowledges that while having mentors and sponsors is important, she says that women should go a step further and search for a “champion.” Chen-Young said, “Especially at a large law firm, it is critical to have someone with a high profile either internally or externally facing with clients who takes an interest in you—that’s the type of person who will propel you forward in ways that others cannot.”
Community Outreach Enriches
Chen-Young is proud to be a 2019 Fellow of the Leadership Council on Legal Diversity (LCLD), an organization of more than 300 corporate chief legal officers and law firm managing partners committed to diversity in the legal profession. In her involvement with LCLD, she also mentors first-year law students in their 1L LCLD Scholars Program, underscoring the value of pairing more experienced legal professionals who can share their advice and help aspiring young lawyers avoid pitfalls.
Among the wisdom she shares with younger professionals is the importance of speaking up, rather than waiting to be asked. “It might seem safer to stay under the radar rather than taking a risk, but you elevate yourself by being proactive,” she says.
And she adds, it’s not just what you say, but how you say it. “Your delivery alone can change whether someone perceives you as competent or skilled. Unfortunately often we think we’re being polite when we apologize or take ownership of a mistake, but we’re really just highlighting it in a way that men wouldn’t,” she says.
Chen-Young is an avid supporter of Katten’s participation in The Mansfield Rule, a program that aims to increase representation of female and diverse lawyers in law firm leadership. She is also an active member of Katten’s Women’s Leadership Forum, which supports the advancement and retention of female attorneys by offering mentoring, skill-building opportunities, external and internal networking, and career development programs.
Outside of the firm, she sits on the nonprofit board for the DC Youth Orchestra Program, which is primarily focused on providing access to music education across the Washington, DC metropolitan area.
“I find that networking within your community is very valuable,” said Chen-Young, adding that she’s learned a great deal from meeting professionals in various industries. “Community service gives you a different perspective and keeps you engaged with the underserved beyond the field of law,” she says. “Ultimately, it’s important to be a citizen of both my legal and geographic communities.”
Finding Longevity in Finance
When reflecting on her legal career, however, Chen-Young is most proud of how she makes her business clients feel like she is part of their team—not an easy feat in the world of “Wall Street” finance. She accomplishes this by taking the time to understand her clients’ business and objectives from their point of view. She said taking this approach makes her more successful and efficient at the negotiating table.
“My advice to women looking to advance in traditionally tougher fields is to turn yourself into a strategic partner to your colleagues, your clients, and everyone you come in contact with professionally,” said Chen-Young. “But, above all, deliver high-level, solid, superior quality work.”
Chen-Young knows she is a testament to the fact that if you rise above, stay focused and work hard, you will ultimately be judged by your substantive skill and overall professional service.
“In that regard, I am lucky to say that my clients view me as a valuable, critical and strong business partner to the team,” she said.
What’s Your New Year’s (Career) Resolution for 2020?
People, Rising StarsSince theglasshammer is the online community designed for women executives in financial services, law and business, we asked new members of the Vice President and Executive Director Class of 2019 to share their New Year’s “career resolutions” in advance of the start of orientation:
Kristen Askin, Securities, New York: My career goal in 2020 is to empower my client base of institutional investors to be connected to Goldman Sachs more holistically, by introducing them to new parts of the firm and helping them to achieve their business objectives. To do this, I am excited to work together with my peers in other businesses by strengthening our relationships and learning from their expertise in other areas across the firm.
Natalia Barrey, Tax, Sao Paulo: My resolutions as a first year vice president are to continue to develop my management skills and leadership, and have a more strategic corporate viewpoint to help keep all members of our team informed and engaged, as well as to expand my contributions as a part of the Lesbian, Gay, Bisexual and Transgender Network.
Maya Bradshaw, Services, London: I’ve never really been one to set New Year’s resolutions (previously they have been too lofty to be attainable), but this year I have challenged myself to commit to a number of micro-habits designed to strengthen my mental and physical resilience so that I am well positioned to meet the challenges of being a newly promoted VP. These resolutions include goals such as taking the stairs to meetings on other floors, making time to be “mindful” and setting (and sticking to) my non-negotiables.
Elsie Cheng, Global Investment Research, Hong Kong: I hope to ride the frontier of technological innovation in China, continue to generate impactful ideas that align with the firm’s goals, add value to the franchise, and aim to have fun at the same time.
Kiley Colston, Controllers, Dallas: As I step into my new role this year, I plan to focus on two things: making a maximum impact and maintaining a work/life balance. These seem so simple, but showing up to work every day with an open mind, eager to step out, stretch yourself, build up others and develop new skills, all while prioritizing and carving out time for family and friends, comes with clear intentions, persistence and dedication.
Johannes Hahn, Investment Banking, New York: My career resolutions for 2020 are twofold: On one hand, to grow our risk management business, with particular focus on middle market clients in the context of the Investment Banking Division’s ‘Cross Markets Group’ initiative as well as across a variety of products, including the firm’s new transaction banking platform. On the other, to use the learnings from my own progression at GS from analyst to vice president across different teams and geographies to mentor our junior bankers as they develop their careers.
Archa Jain, Investment Banking, Mumbai: I would like to take complete ownership of execution of the projects I’m working on, expand my existing network and deepen client relationships to be able to source new business opportunities for the firm. In addition, I want to play a meaningful role in team-building and mentoring junior individuals.
Anna Jeschke-Chin, Corporate Treasury, New York: In 2020, I am looking to share knowledge beyond my immediate team. Information is currency, and sharing relevant information with people in other parts of the firm will keep you on their radar and might just lead to being included in exciting new projects.
Kahena Joubert, Merchant Banking, New York: My 2020 resolutions are to maintain the high levels of energy and strategic focus that I had last year, identify and excel at opportunities to be a leader, and give myself the time I need to successfully plan and enjoy my October wedding.
Christian Manion, Corporate Treasury, Salt Lake City: In 2020, I want to focus on long-term career ambitions and align my short-term responsibilities and goals towards those. I want to pay it forward by making a conscious effort to share my perspective with the team, help align goals, and pass along the lessons I continue to learn.
Leslie Odamtten-Addy, London, Internal Audit: In 2020, I will be moving to our Frankfurt office from London. A resolution of mine is to assimilate into the culture and environment of the Frankfurt office (which also includes learning German), while also maintaining connectivity to regional headquarters. Another goal is to invest in relationships and provide mentorship. I have been very fortunate to have had a number of wonderful mentors throughout my time at Goldman Sachs, and have learned the value of investing in key relationships across levels of seniority and the benefits of mentoring others on your own thought process and ability to be a more effective people manager.
Jade Trusty, Compliance, London: This year, I hope to accomplish the following:
Anne Shapiro, Consumer and Investment Management, Washington, DC: As I begin 2020 with a new title and additional time demands, my career resolution for the year is to build time leverage for myself. From taking advantage of new firm technology, to delegating more, to drawing on the Eisenhower Matrix for organizing priorities (and applying any other tips my colleagues might recommend!), I aim to maximize my productivity to serve clients better and grow my commercial impact.
Post Bonus Job Change: Should I Stay or Should I Go?
NewsThis is a common question that all executives working in financial and professional services have at this time of year after bonuses are paid. It is very tempting to start to think about how things might be better at a different firm. And, they might b! But, it is worthwhile to do a full audit with yourself to see where you are, what you want and then consider options around how to get an optimal situation. There are always options, you just need a clear mind to weigh the payoffs and consequences and it helps to triangulate that with data and feedback about you.
You, in context.
As an disciple of I/O psychology (I/O stands for individual/organizational), looking at you as an executive and then you in context of your team and firm, is a crucial way to understand what is totally within your control to change. And to understand and define what are not things you can easily change as cultural norms are woven in the fabric. A way to do this quickly this bonus season is to ask yourself what has been your peak experience of being in this job over the past year? What was it? (usually a project or a time) and what about it made it great for you? Dissect it. How did it make you feel? How did you show up? What would you do again and what would you not do again, behaviorally (action taking)?
Then ask what was the lowest point in the year? Same questions.
Notice if there are mostly things that pertain to you, or mostly to who did what other than you, and how work got done? Culture is everything. Workplace norms are mostly invisible but form the culture.
You. Just You.
What are your triggers? We all have them. Think about your most stressful moment, what behaviors tend to surface time and time again? If you can identify them, you have a chance at not reacting in the same old ways. This will give you control over tough moments at work and help you to “show up” the way that you want to!
Reflect upon your successes and your failures and what can you learn from both.
It is easy to get caught up in the daily stress of getting tasks done, but always take some time to formally reflect on the bigger picture. Whether it is journaling what is working for you and how certain tasks and dynamics are making you feel or unpacking your annual review with a trusted advisor or coach and always ensure that you are learning from the good and the bad experiences.
Next week we will discuss goal setting and motivation.
If you want to avail of the Winter 2020 coaching offer, we have spaces for new clients wishing to work on the topic of should i stay or should i go. We will be doing a deep dive into what you really want and what you do not want from an i/o perspective. Is it better to stay? if so and that is the answer that you get to using our coaching methodology, then the work becomes about making a plan to stay and succeed. if the conclusion is to leave for a new firm , then we have career change coaches that specialize in supporting you in the job search and secure processes also.
We can offer 5 sessions for $1800. Each session is up to 90 mins. Contact nicki@theglasshammer.com for a complimentary exploratory mini session to see if coaching is for you and to match you to the right coach.
Intrepid Women: Carol Evans, CEO, SHARE
Intrepid Women Series, People“Failure will help you advance in your career if you examine it carefully and accept it as an important teacher. Failure never lets up. It’s not about doing things wrong. It’s about learning and re-learning all the lessons that a challenging career offers.”
Carol Evans, Intrepid Woman, Pioneer and Advocate for working women shares her insights on what she wished she knew early on in her career journey. She continues, “Failure will always be with you. Be not afraid of it.”
Carol started her career in advertising in 1976 and worked on the test issue of a new magazine called Working Mother. Evans loved the idea of this magazine because her own mom went back to work when she was 12. “ It was the best thing that ever happened to my mom and to us, her children! Working mothers were the fastest growing segment of the workforce, and I knew how to help this new demographic because of my own mom’s career.” In her 10 years as publisher Evans took Working Mother magazine from a test issue to a full blown success with over 2 million readers. Ready to move forward in her career, she left Working Mother to join Stagebill magazine for the performing arts in a bigger role as President.
“Stagebill was amazing: Lots of opera and Phantom of the Opera, meeting famous singers, dancers and actors. I was a partner to the executive directors in the challenge to print programs nightly for 110 arts organizations.”
In 1996 Evans joined Chief Executive magazine as COO. “Meeting all these Fortune 500 CEOs made me feel that I could take on that role. They were just people–not gods! They were almost all men, which made me mad!”
Six years later Working Mother magazine came up for sale and Carol decided to put her career to the test. She went to 35 possible funders to acquire Working Mother, getting turned down 35 times. Then she met the CEO of MCG Capital and made a deal to buy the magazine and form Working Mother Media. It was August, 2001. Evans relays how the first order of business was to survive the terrible days after 9/11. She adds,
“We then built Working Mother Media into a powerful for-profit advocacy organization that took on the advancement of women as our guiding cause. We focused our magazine and websites, conferences and research on the needs of working moms, women lawyers, women of color, executive women, hourly workers and other segments of the female workforce. “
In 2015, Evans retired from Working Mother Media to co-found Executive Women for Hillary, which grew to a force of 2400 women nationwide working on Hillary’s primary and then presidential campaigns.
In late 2019, after 38 years in the media business, she joined the non-profit sector as CEO of SHARE, an organization started in 1976 by breast cancer survivors that now helps 200,000 women every year. SHARE brings women newly diagnosed with breast, ovarian, uterine and metastatic cancer together with women who have survived or are living with these cancers. Through group meetings, helplines and webinars SHARE creates a giving circle of support, knowledge sharing and community. She states,
“I’m excited about starting a new career! Leading a non-profit focused on the women who are so often overlooked in the battle against cancer as money flows to research but not to human beings is deeply meaningful to me.”
She continues that the non-profit world is new and fascinating to her..
“ The sense of purpose is exhilarating and the work is rigorous. Non-profits have had to navigate the digital revolution as much as for profits, and have come out stronger in most cases. SHARE combines digital savvy with face to face support for women who have entered a club that no one wants to join.Many of the volunteers at SHARE had big careers that they had to or chose to leave because of their cancer. SHARE gives them a challenging and deeply healing way to give back to new members of the terrible cancer club.”
The new thing she is working on now is fundraising on Facebook through individuals taking up SHARE’s cause on their birthday or their mother’s birthday. “We are excited to reach out to the millions of women whose lives have been touched by female cancers to support our organization.”
Risk, Reward and Achievements
When asked about achievements that she is most proud of she cites her new job as well as saving Working Mother magazine from certain death in 2001.
“Launching it (the magazine) in 1979 and being a successful CEO in a world where few CEOs are women is a great source of pride to me. Having the foresight to launch Best Companies for Working Mothers in 1986 and the bravery to launch Best Companies for Women of Color in 2002 is my most enduring contribution to women.”
Carol has certainly taken calculated risks and she recalls that when she left her very wonderful job as VP Publisher of Working Mother in 1989 to work for an entrepreneur it was because she wanted to become an entrepreneur. She states,
“ It was a gamble but it paid off when 12 years and 2 jobs later I was able to acquire Working Mother and form my own company, Working Mother Media.”
Outside of Work
Carol states, “My family is everything to me. Robert was born 9 years after we launched Working Mother and Julia was born just after I joined Stagebill. I loved being a working mother, with all the challenges and all the ups and downs. My husband Bob made it all work by encouraging my career at every twist and turn. He still doesn’t fold laundry the way I like but he’s been a great dad and partner.”
We congratulate Carol in her new venture and proudly bestow her theglasshammer mantle of being an Intrepid Woman.
Women, Get Promoted in 2020
Ask A Career Coach, Career Advice, Career Tip of the Week!My favorite academic Hermina Ibarra discusses the spectrum of mentor to sponsor or advocate in HBR in a way that really demonstrates that it is ok to have a mentor but to not be surprised when they are just an advice giver as opposed to an opportunity giver or “cash their chips on your behalf” person for you.
Sponsorship, almost ten years old as a named concept
We first started writing about sponsorship when the term was coined by Sylvia Ann Hewlett in 2011 when she wrote with Amex about the benefits of the relationship for female executives looking to succeed at work. We continued to write about through the early teens of this past decade as people struggled with the differentiation of mentors versus sponsors. The conclusion that Ibarra makes and I agree with as an organizational coach, is that most formal sponsorship programs haven’t delivered and in some cases have been scrapped altogether. As she states in her article,
“Typically, they abandon sponsorship because experience has shown them that while you can ask senior executives to provide advice and support to high-potential women, you cannot mandate that they spend their personal capital advocating for people they don’t know well or may not be bullish about.”
So, what can you do? Figure out who is who in your network using Ibarra’s sliding scale of mentor, strategizer, connector, opportunity giver and advocate. Once you know where you stand, you can start to know what your ask is!
Know the talent processes
Secondly, I am often surprised when as a coach, someone tells me they want to be promoted but yet have not investigated the formal talent processes at their firm. It is important to know what you have to do to be in the running as sometimes there is formal nomination and that can form the very basis for the plan that will take you to the next level. You can tell HR or your boss that you are interested in a long-term future there at your firm and therefore would like to know what you need to do to be considered for promotion. You can even request a specific timeline as the worst that can happen is that you tell you nothing, which is information in itself. Observe what behaviors and who gets rewarded at work as these are cultural norms that play a part in subjective talent processes in firms that are looser on their formal processes.
You can then focus your networking, and your work projects. When you are doing stretch assignments that matter, find ways to make sure others know as that is better than working yourself to the bone and expecting the reward on sheer volume of work alone. Start having the right conversations with the right people, and if this sounds political then know that is how life implicitly works as men have meetings outside meetings all the time in the bathroom, bar, ballgame and the hallway. I sit in cafes a lot with my laptop and I hear men gossip about work even more than women do and they never say that other men are not competent, yet I hear women colleagues being undermined over coffee by women and men, sadly most days. The double bind of how you are darned if you do and darned if you don’t!
Other things to do in 2020 to get promoted
Thirdly in 2020, read the book by long-time collaborator and friend of theglasshammer Sara Canaday called “You, according to Them” that will help you understand that how you are perceived is just as important as who you actually are.
Lastly, to get promoted one of the best strategies is to get a coach. The FT just reported it’s the biggest thing so far in 2020 for career success and empirical evidence suggests randomized control tests showed that 85 per cent of coachees were better off than those in the control group, not just in their own view, but also in the opinion of their line managers.
Hermina Ibarra’s latest work espouses coaching style for managers as the future. I believe her.
We walk the talk so call us for a complimentary chat about whether a coach can help you get what you want in 2020. Email nicki@theglasshammer.com as we have real life success stories for the past seven years of coaching VP, SVP, Managing Director and C-level women in the financial, professional and technology industries. Put coaching in the email subject line.
Beyond Networking: The Importance of Nurturing An Inner Circle of Women
Career AdviceThe more your network reflects an inner circle of women, the more effective it may be in supporting your growth and advancement. But even beyond networking, having women in your inner circle matters.
In the Harvard Business Review, Brian Uzzi, Professor of Leadership and Organizational Change at Northwestern’s Kellogg School of Management, writes about his research collaboration into what kinds of networks helped new men MBAs and women MBAs secure executive leadership positions.
For male MBAS, centrality is what mattered – not how big the network is, but being central within it or connected to multiple “hubs”- lots of contacts across different groups. The top quarter of central men obtained jobs that were 1.5 times higher in pay and authority than the bottom quarter.
Centrality also mattered for women, but the women that landed the executive roles with highest levels of authority and pay also had an inner circle of close female contacts in particular. The gender composition of men’s inner circle did not factor into success of MBA graduate placement.
“Women who were in the top quartile of centrality and had a female-dominated inner circle of 1-3 women landed leadership positions that were 2.5 times higher in authority and pay than those of their female peers lacking this combination,” Uzzi writes. “While women who had networks that most resembled those of successful men (i.e., centrality but no female inner circle) placed into leadership positions that were among the lowest in authority and pay.”
Insider Insight Goes Beyond Market Information
The researchers speculate that the inner circle of women is highly likely to provide insight into navigating the unique challenges that women face and to be a permissive space for asking questions outside of an official interview context.
“…because women seeking positions of executive leadership often face cultural and political hurdles that men typically do not,” Uzzi speculates, “they benefit from an inner circle of close female contacts that can share private information about things like an organization’s attitudes toward female leaders, which helps strengthen women’s job search, interviewing, and negotiation strategies.”
The most successful inner circles for women included women who were closely connected to one another but had fewest contacts in common, so as to each have a wider access to insight from more women.
Forget Networking. Nurture Real Connections.
If what likely matters in the inner circle of women is actually collaborating to support and lift each other, then it’s about building relationships you want to be in.
“I always say a woman alone has power; collectively we have impact,” writes Shelly Zalis, in Forbes, Founder and CEO of The Female Quotient. “Traditionally we have been taught to be competitive with one another, because there was such a scarcity of jobs at the top. It’s so clear that strategy doesn’t work.”
Zalis recommends to cultivate an inner circle of women by reframing networking so it’s not “work”: “When you create connections based on shared interests and goals, you’ll be more successful at your job, because people want to work with people they know and like.”
“My advice to women is to reframe what networking is,” says Gail Tifford, Chief Brand Officer of WW. “The fact alone that the word has “work” in it creates pressure for women to feel like it’s something they have to do, and then I see women stress about how to do it. Simply putting yourself in environments that give you the opportunity to meet with peers and get to know each other and share experiences can be a game changer. And chances are, if you make meaningful connections, they are ones that will last a lifetime.”
Relating is not something you “do”. It’s something you and others invest your time and energy in because it’s mutually enriching. Putting yourself into a space where you are sharing with women from diverse relevant backgrounds can magnify your shared sense of belonging and your opportunities.
“Networking is one and done…” writes Zalis.”A relationship, on the other hand, touches your heart and creates an everlasting partnership. To keep connections alive, they must be nurtured.”
Raise Each Other Up
Shedding a mindset of scarcity and competitiveness between women around opportunities also means a willingness to raise other women up, including according to Julie Koepsell, Managing Director of Fellow, creating opportunities for other women to shine, helping to remove obstacles to success, encouraging them, finding out what’s important to other women so you can support them, and leading with example.
“At first it may seem like you’re taking attention away from yourself,” says Rebecca Wiser in the Forbes article, cofounder and director of communications at Womaze, a self-empowerment app for women, “but you’re actually showing that you’re a supportive team player as well as an inspiring leader—and secure enough in yourself to praise others.”
Real leadership does not mean standing alone in the spotlight, or hoarding ownership of the light, but rather a willingness to witness it in others and collectively rise together. It means supporting others in lighting up so that we all shine more.
Perhaps it’s the “net” in networking that needs more emphasis, a circle of women helps to support, hold, lift and create something that catches more opportunities for all.
Extend Your Circle Outside Your Comfort Zone
As evidenced in the research study, diversification of even your inner circle matters when it comes to supporting each other into better opportunities. As Uzzi writes, “The more you associate with similar-minded or experienced people, the less likely you will be to diversify your network and inner circle.”
It takes some to bust out of gravitating towards those who already feel “like us”. Expanding the power of your tribe means expanding your willingness to connect beyond your comfort zone.
Two ways to do this is first of all, be willing to allow “random selection” to comprise your inner circle – Uzzi found that random grouping “raised the odds that female students will befriend those with experience and goals beyond their own, again expanding their knowledge and contacts in career-enhancing ways.”
Secondly, check into how closed your circle is. If the connections of the circle are too interconnected, then it may not be as expansive for each of you. Uzzi provides the examples of workplace or industry affinity groups.
Diversifying your circle creates circles rippling outward, and that shape reaches out to new opportunities and experiences.
Authors Bio: Aimee Hansen is a freelance writer, frequent contributor to theglasshammer and Creator and Facilitator of Storyteller Within Retreats, Lonely Planet recommended women’s circle retreats focused on self-exploration and connecting with your inner truth and sacred expression through writing, yoga, meditation, movement and ceremonies.
Happy Martin Luther King Jr. Day 2020
Black History Month, NewsTo celebrate and honor the Martin Luther King Jr.
Holiday, we wanted to put out a call out for amazing female executives in financial and professional services who identify as African American or Black women (British or American or from another nation) to be profiled as part of Black History Month coming up as a celebration of heritage here in the USA in February.
If you are a black female professional or are a woman of color in financial services, tech, law or Fortune 1000 we want to hear from you. As a continuation of our thirteen year campaign to ensure that we create a platform and a place to honor everybody’s unique story and career journey, we invite you to tell yours to inspire others.
We profile all types of people all year long so it is really Black History Month is a heritage celebration and we are totally cognizant around how a person chooses to identify as opposed to identities that we put upon people.
Our aim is to dispel stereotypes and “You, according to you, versus you according to them” and the perceptual gap of who you are in actuality as opposed to who others believe you to be, is everything.
Happy MLK day- celebrate history, his legacy and beyond that, think about how your actions can contribute to progress, equality and equity among people.
Email Nicki@theglasshammer.com if you are interested in having your career profiled
Beth Waldman, Strategic Initiatives Leader, Genpact Risk & Analytics
Movers and ShakersBeth Waldman of Genpact Risk & Analytics says, “Sponsorship is a key thread in my career, specifically in how I was thought of and connected with people that ultimately became my managers. Sponsorship to me went on to mean trust in me and my character and knowing that an introduction is one thing and the rest is up to you. Sponsorship can really set you up for success in your role, so when you have it, take full advantage.”
Beth started her career in 2000 with a job in advertising, at a Madison Avenue agency called DDB, known for its work with major brands like Hershey’s, Johnson & Johnson and Pepsi. The Bank of New York was her primary client and she worked her way up from group assistant to account executive. Beth was recruited by them, finalizing the switching of her path to the client side early in her career.
Beth relays how the early part of her career journey showed her how sponsorship can work, since the person who hired her in her first financial services job, saw her potential and continued to advocate for her once she was inside the bank. She comments,
“At The Bank of New York, I cut my teeth in financial services with RFP writing and some course work, then made my way into the corporate marketing organization, supporting and working on campaigns across several different lines of business including custody, alternative investments and institutional banking.”
After a short lived stint in advertising Prime Brokerage at the ill-fated Lehman Brothers, she moved into marketing in the financial services technology industry, mostly under the umbrella of FIS (then known as SunGard). The string of experiences there of corporate marketing and communications, demand generation, re-branding, and thought leadership creation led her to Genpact in 2014.
At the start of 2019, she made a major move, inside Genpact, going from marketing to strategy in the risk practice, focusing on financial crime compliance. The remit expanded to include all risk services, whether advisory and consulting, analytics or financial crime.
Today, she is the Strategic Initiatives Leader for Genpact Risk and focuses on engagement with key industry analysts and building out a risk & analytics advisory council. She comments,
“I’ve gone from leading small to mid-size, junior to mid-level, co-located, diverse, international teams to being an individual contributor that works closely with leadership. I appreciate the independence and the massive change in dynamic as I realized I enjoy a seat at the strategy table. It is good to understand what is important to you.”
Right now, Beth is thrilled to be scaling up Genpact’s risk & analytics advisory council and she is taking a program she built from a 1.0 to a 2.0 version with the full support of practice and company leadership. She is now focused on risk in financial services, in particular, regulations for banks and other companies handling payments; controls concerning financial crime compliance are the focus, albeit indirectly, of the work of the practice team. She adds,
“With a deep dive into this industry, the work I am involved with ultimately combats terrorist financing, human trafficking, and other crimes spawned from abuse of financial institutions. There is a virtuous nature to the work at the end of the day that I’m proud to be part of.”
Relationships Matter
Beth states that she is proud of the fact she has been recruited for each professional role she has held, including a few jobs that were created expressly for her. She comments that she believes that doing a good job and then keeping in touch with her clients, colleagues and managers is useful,
“I always keep up relationships, even if it’s using LinkedIn to stay connected to sponsors of mine. I have learned and have benefited from the value of networking. At the end of the day I believe it’s based on having strong rapport with my managers, colleagues and other stakeholders. More than once, a past connection/work relationship helped secure a new role for me when the new hiring manager sought out an endorsement for me and my character and work ethic.”
Thinking about advice to her younger self, Beth reflects that she singles out one thing: to be mindful that those around us have all had their own path to get where they are. She opines that respect is a valuable currency and establishing rapport with those you work with, especially outside your immediate team is valuable and always worthy of your time.
“You never know when you may find yourself in need of a sponsor, ally or someone to coach you – whether situationally or otherwise. Managers that spent months recruiting you can leave unexpectedly and you need to stand confidently on your own inside a new organization, as soon as possible.”
What have you learned that you want to share?
“My biggest learning moment was realizing frustration was stemming from boredom, when I was no longer learning in my role; that realization gave me the courage to seek out a new role and a new way of working entirely. I now realize I need to create and to start things and make them real; I prefer to be part of the change.
“Waldman also talks about pushing back, saying no and being authoritative without being interpreted as overly aggressive, as common challenges she has had and seen in others. Further to that, often being the only woman or one of very few women in the room is the reality but it doesn’t have to be a barrier. She offers,
“Don’t shy away from some level of self-promotion and showcasing your successes. You have to have them together (like a show reel) to access when needed.” She adds,
“Lead with your gut and your knowledge; don’t be intimidated if you can’t check every box of experience. Be realistic that no one is a rock star at their job on day one. A good attitude and willingness to get things done will serve you well. Have confidence in your own ability.”
Walking the Talk- role models to reality
Waldman admits that earlier in her career, any time she saw woman in a leadership position in the many financial institutions or other large companies she has worked for, she couldn’t help but gravitate towards them as she found female role models helpful. She wants to pay it forward herself and is currently part of the Women’s Leadership Program for AVP level women across her company of nearly 100,000.
“There are over 300 of us to start, with 30 ultimately making the final phase into a VP promotional pool of candidates. It’s my second leadership course for this band level at Genpact. In prior organizations, I was nominated for and took full advantage of various leadership and other programs. More than once I was sent to presentation-focused classes, where you had to present on camera and live in front of a room of people you were meeting for the first time.”
Outside of work, after a 30 year hiatus, Beth is playing piano again, taking lessons with her daughters who are eight and six. She enjoys travel and recently, she and her husband made it to Red Rocks in Colorado to see live music and states that her ultimate adventures are those with their children; skiing with her family being is her latest and greatest proud parent moment.
5 Negotiation Tactics Women Can Use to Fight the Gender Wage Gap
Guest ContributionNegotiation Tips for Women
Potentially the number one weapon in the arsenal against the gender pay gap is improved negotiation tactics for women. According to a recent Harvard Law article, studies surrounding the negotiation of salary demonstrate that male candidates tend to use tactics that achieve better results than women. Deeply ingrained societal biases surrounding gender roles prevent traditional male-centric negotiation strategies from being as effective for women as they might otherwise be. However, there are ways that women can significantly affect the gap by educating themselves in tactics that work well, combating gender biases and stereotypes.
University of Münster’s Jens Mazei and colleagues studied the strengths women had when compared to men in negotiation in a paper called “A Meta-Analysis on Gender Differences in Negotiation Outcomes and Their Moderators” published in the Psychological Bulletin. They discovered some intriguing ideas that indicated how women could leverage strategies that would narrow the gender pay gap significantly. Here are five findings to use in your negotiation approach:
1. Reframe the conversation: Mazei’s research indicates that due to a societal understanding of women as nurturing, women in negotiation are more effective when they consider the idea that they are working on behalf of someone other than themselves. When women come into a negotiation with a supportive notion that they are fielding a larger purpose, such as getting more for their team or even fighting gender inequality so that the next generation will get a fair shake, they tend to be more effective in negotiation.
2. Get used to the bargaining table: Like anything else, negotiation takes practice. Because, perhaps, gender bias perpetuates the attitude that it is unseemly for women to engage in negotiations, men generally have put a great deal more time into it. This lack of experience, however, is a large factor in the imbalance between men and women in this area. Getting as much negotiation experience as possible will help even the odds significantly. Practicing bargaining with others in simulation on a regular basis can have a very positive effect on the real process.
3. Informational gathering including salary transparency: Having all of the facts surrounding a position may be even more crucial for women in negotiation than it would be for a male candidate. According to Glassdoor, when women know the specific salaries, for example, of those that work in comparable positions, they have an improved ability to negotiate more equitable compensation. Indeed, companies that practice more transparency in salary have been shown to more actively lessen the wage gap in their workplaces. In addition, Mazei mentions, not only do women feel more confident in negotiation when they have this kind of information, because it is not subjective, it is easier for women to reference a concrete number without facing adverse reactions from men who might otherwise feel their authority challenged.
4. Control your visual cues: Understanding how you are presenting yourself when in an interview is obviously very useful. Some tactics that have been suggested when it comes to body language that helps women in negotiation is to make regular eye contact. Also, make low broad gestures that originate from the shoulders instead of at the elbow; this is something that expands your body allowing you to take up space more effectively. Making sure you are presenting yourself in a position of strength is something that male negotiators do regularly and should be a common practice for women as well.
5. Think about your word choices: According to executive speech coach Darlene Price, aspects of vocal inflection like upspeak can undermine the idea that you have confidence in your statement. So can putting qualifying words on the ends of otherwise concrete statements; it creates the impression of hedging. If you find you are adding phrases like, “Do you agree?” or “Right?” unconsciously to the end of statements, it is not supporting your cause and promotes the idea that you require validation for your thoughts.
It’s unfortunate that women need to work harder than men in the current system to achieve something as basic as salary equity, but many do. Employing negotiation tactics like these can help women to reach this desired reality more quickly.
Guest Contributed by Sierra Skelly
About the Author
Sierra Skelly is a creative writer and marketer from San Diego. She loves red wine, black coffee, and chilling murder mystery novels with a strong female lead.
The opinions and views expressed by guest contributors are their own and do not necessarily reflect those of theglasshammer.com