“It might seem tough at first, but I’ve come to learn that you have to relax and enjoy the ride. No journey is linear where you must pass A and B, to reach C, or else you’re lost. That’s just not how it works,” says Rachel Lockett.
Lockett shares her thoughts on embracing a career pivot, building leadership skills through diverse experiences, prioritizing team development, and the importance of finding meaning in her work.
Pivoting from the Public to the Private Sector
Lockett’s path into marketing in the beauty industry took an unconventional route, beginning with a career in international relations. Working on the Mexico desk at the State Department while getting a graduate degree, she found herself intrigued by the macro subject matter and sense of altruism behind the work, but ultimately craved a faster pace and more control. This led her to pivot into the private sector, earning an MBA in marketing and finance and joining Johnson & Johnson’s international rotation program before landing a role at L’Oréal in New York.
She reflects, “I was interviewing at the UN while I was interviewing at L’Oréal, but the next phase for the UN was sitting for an exam. When L’Oreal offered me the job, I had to choose. I remember there being a lot of pressure to make a ‘right choice,’ feeling the weight of a decision that might be irreversible.”
Lockett recognizes that even though she felt the heaviness of the decision at the time, she is pleased with the way things turned out, particularly as she never even initially saw herself in the beauty space.
“Initially, I didn’t see myself as a ‘beauty girl,’ but my perception has changed over time. I’ve really grown to adore it. Throughout my career, I’ve delved into various roles in trade marketing, brand marketing, and consumer engagement, all within the beauty vertical. I’ve come to realize that I am, in fact, a ‘beauty girl’ and I proudly embrace this identity.”
Empowering Women to Express their Unique Individuality and Beauty
Lockett finds her marketing career in the beauty industry to be as dynamic as she anticipated, constantly offering new challenges and opportunities that energize her.
“The platforms, retailers and landscape of competitors are always changing…there is also the opportunity to work cross-functionally with retailers, media partners, and event activation vendors, making it both diverse and exciting.”
Her enthusiasm for the work shows through in what she has been able to accomplish, with her team winning an Ogilvy award and two Glossy awards for different brand campaigns. These achievements also reflect her commitment to finding innovative ideas to break through and “introduce MAC to a younger Gen Z consumer.” She continues, “a lot of these efforts have been specifically targeted around those goals and have successfully moved the needle in increasing our awareness among younger multi-ethnic consumers.”
Lockett’s aim for MAC is to continue to promote and expand diverse representations of beauty, whether it be body type, skin color and texture, sexual orientation, or gender, through thoughtful decisions around casting, who they feature on their story wall, influencers they work with, and people they feature on their social handles.
“All of those representations are really powerful, and they make a huge impact on how people see themselves and experience the brand’s transformative effect.” She continues, “it’s about encouraging self-expression and experimentation and affirming that everyone is beautiful in their own way.”
Becoming a Well-Rounded Leader who Uses Her Voice
Lockett emphasizes the dual importance of creativity and operational savvy in marketing leadership. While innovative ideas are significant, effective leadership also hinges on adeptly navigating organizational processes, securing resources, and assembling the right team. She advocates for cultivating leadership skills through diverse experiences rather than solely focusing on moving up the ladder.
“Success stems from a breadth of experiences. The broader your understanding and hands-on involvement across domains, the better equipped you will be to thrive in senior roles. Focusing on the richness and depth of experience versus the speed to get there will pay off in the long-term.”
As Lockett builds on her varied experiences to advance her career, she is committed to using her voice and point of view in how she shows up as a leader, particularly as a woman of color. Even though she finds the beauty industry to generally have more women in leadership roles, she notes that there are noticeably more men in the higher ranks of beauty.
She advocates, “As you move up, it’s important to bring your voice and your experience. Remember to speak up, because you bring a unique perspective and a richness to the conversation or strategy discussion that’s not always represented.”
Valuing the Development and Growth of Her Team
Building relationships and sustaining connections is another key element of Lockett’s leadership style, particularly when it comes to managing a team.
“As your team grows and as your profile becomes more visible cross-functionally, simple gestures like walking around the office, asking about people’s weekends, and fostering personal connections can make a big difference in their engagement and commitment because they know you genuinely care.”
Creating engaged and high-performing teams by letting everyone in on the “why” can also go a long way in making people feel included and that they are an important contributing team member.
“As you progress into senior leadership roles, you may gain insight into the ‘why’ of certain strategies, yet this information may not always trickle down to every team. Pausing to communicate the overarching vision to the broader group and explaining the reasons behind our collective efforts fosters camaraderie, understanding, and an investment from the entire team.”
Beyond engaging her team in the vision, Lockett fosters a strong team dynamic in being accessible and open to hearing feedback, demonstrating that the team has a voice and can influence change. She also looks for opportunities for the team to bond outside the office, whether it be a graffiti class or mini golf, so that the team can get to know one another in a more relaxed atmosphere, as she notes, “it can go a long way when down the line they might be in a challenging conversation or have to work long hours getting ready for a big launch.”
Coaching Helps Connect the Dots
Lockett’s insightful reflections on her development as a leader are testament to the value of executive coaching, a recent experience for her.
“Having external perspective has helped me connect the dots between my experiences and approach to things by having someone externally mirror it back to me. Also, through targeted resources and exercises, I’ve gleaned more insights into how other people learn and how I may need to adapt and present information to effectively communicate and engage with others.”
Lockett notes that the benefit of having someone outside the organization facilitate that reflective process is that it helps reveal potential limiting beliefs or behaviors that may not be beneficial, opening new possibilities for how to approach an issue.
“I’ve seen the impact of leadership coaching reflected in my ability to dedicate more time with my team, listen to their perspectives and advocate for what they need in a way that I may not have in the past.”
Making an Impact with the Relaunch of VIVA GLAM
Lockett is an inspirational leader who not only hopes to make an impact with her team, but also on a macro level through the relaunching of the MAC VIVA GLAM campaign. The charitable arm of MAC, VIVA GLAM has given over half a billion dollars globally to support organizations in their mission to create healthy futures and equal rights for all. Now thirty years after its founding, MAC VIVA GLAM has an expanded mission with new pillars including sexual equality, racial equality, gender equality and sustainability that all markets can tailor with grant funding.
“Being involved with VIVA GLAM is one of my favorite parts of working on MAC. I get to oversee the programs that we will run and the charities that we support, allowing me to play a role in making an impact on something – and someone – that is much bigger than myself.”
Reflecting on where she started with aspirations to work in international relations, she realizes, “finding what’s important to you and how to bring that into your work” is what she values most, and she is excited to have an opportunity to continue to do that in her leadership role at MAC.
By Jessica Robaire
Developing as a Leader – How to Use a Coach for Best Results!
Career Advice, Career Tip of the Week!Are You Ready for a Coach?
Some leaders come to coaching with very specific goals or outcomes that they want to achieve. A good coach can help with furthering your objectives and goals by evoking your highest thinking around how to figure out the exact pathways to get there. Coaches can also help you to sanity check your goals, to help refine and define and sometimes tweak the goals. It can be daunting to specifically articulate your desired future state to work towards so gaining clarity in goal setting is very much part of the process as it is through deep conversations with a coach, executives can identify their strengths, values, and areas for growth. This clarity enables you to set ambitious, yet achievable career objectives aligned with your long-term vision. Previous articles here on theglasshammer.com have addressed transformative ways to improve your professional life and specifically coaching is recommended as the fastest, most effective way to not only grow, but get tangible results. Evidence based research shows that coaching female leaders still reaps massive benefits for the coachee and the organization at large; I believe coaching men in conjunction with organizational development of structures, systems and behaviors is the most effective way to ensure the effects of coaching women are amplified.
What Does Coaching Help all Executives and Leaders do Better Exactly?
1. Develop Self-Awareness and Emotional Intelligence:
Effective leadership begins with self-awareness and emotional intelligence. It has been claimed via research that women demonstrate more EQ naturally then men, but honestly, I believe everyone regardless of gender has a varying amount of self-regulation which is formed over their entire life experience and arguably yes some amount is intrinsic. Coaches work with leaders to deepen their understanding of their own emotions, behaviors, and impact on others and by enhancing self-awareness, leaders can better manage their emotions, build stronger relationships, and make more informed decisions.
It is obvious then that improved communication skills enable leaders to build trust, motivate others, and foster collaboration within their organizations. As leaders become more self-assured and adaptable, they can lead with greater personal conviction and inspire confidence in their teams. A very specific extra skill you should look for in a coach is the ability to help you clear any hidden competing commitments that are lurking in your subconscious preventing you from doing the actions you need to do to actually obtain your goals. It is removing any “immunity to change” that will make the more elusive goals that perhaps you have struggled with for a while, become reachable because we address our inner critic and pour cold water on paradigms that we have been holding for a long time on the “way it is”. Most of us have hidden fears, or even a sense of shame or lack of worthiness and this can be addressed with the right coach who knows how to use a mix of developmental and cognitive theory together to remove any constructs that cause psychological barriers to success. Leadership can be challenging, often requiring confidence to navigate uncertainties and setbacks.
2. Be Better at Strategic Thinking and Decision-Making
Coaching cultivates strategic thinking and decision-making skills among leaders. Coaches encourage leaders to think critically, analyze complex situations, and anticipate future challenges trends. Through guided reflection and exploration, leaders gain the ability to make well-informed decisions that drive individual, team, and ultimately organizational success. Navigating the systemic issues that belong to the company around ways of working is really fundamental. A coach with a background in organizational psychology can enable you to parse what is your development versus what belongs to the organization and the company’s own work for development can feel like a burden is lifted from you and you can focus on what is truly your own work to do.
3. Get Comfortable with your Leadership Style
Coaching encourages leaders to adopt empowering leadership styles that foster growth and development within their teams. Coaches assist leaders in delegating effectively, empowering team members, and nurturing talent. Flexing style is also a key component to being a leader and a coach can privately help any leader learn how to lead in various ways as most of us have a preferred style when it comes to communication, thinking, doing, and even learning. Leadership development through coaching promotes a mindset of continuous learning and adaptability. We know that female leaders walk a fine line in style, especially when gender issues are present (most companies!). Sometimes it is a matter of flexing a communication style and other times it is truly about changing your entire lens on the world to move into a learner mindset and change the questions you ask.
Coaches encourage leaders to seek feedback, embrace new challenges, and embrace lifelong learning. This commitment to growth enables leaders to stay agile and responsive in dynamic business environments.
4. Have Deeper Alignment with Organizational Goals
Coaching is aligned with organizational goals and priorities. Coaches work collaboratively with leaders to ensure that their development efforts support the organization’s vision, values, and strategic objectives. By cultivating leadership skills that directly contribute to organizational success, coaching becomes an integral part of driving performance and achieving results. Team coaching is also an increasingly popular way to connect a senior management team to the culture, strategy and to what is happening in the trenches of their own teams and those of their peers. The “Five Dysfunctions of a Team” by Pat Lencioni is a great way to approach team performance challenges as it all starts with trust!
Coaching plays a vital role in developing a pipeline of future leaders within organizations. By investing in coaching for current leaders, organizations groom high-potential individuals for future leadership roles.
Get Started with Executive Coaching Today!
To embark on a transformative leadership journey, consider engaging with a professional coach like Nicki Gilmour, Founder of theglasshammer.com. With a background in social-organizational psychology and a team of experienced associates, Nicki offers tailored coaching programs designed to accelerate career growth and leadership development.
For a comprehensive coaching experience over 6 sessions spanning 12-18 months, book an exploratory session with Nicki or one of her endorsed coaches. Take the first step towards realizing your leadership potential and achieving unprecedented success in your career. Click here for a complimentary 1st mini session (30 minutes long chemistry and goal setting meeting). * Cost of 6 full sessions (a pack) is $2999 or 10 sessions for $4799 – sessions are 90 minutes long. Or bring us in to work with your team – we design and deliver offsites and programs! Check out testimonials on LinkedIn.
By Nicki Gilmour, Founder and CEO of theglasshammer.com
Rachel Lockett: Vice President of Marketing, MAC Cosmetics
Movers and Shakers, PeopleLockett shares her thoughts on embracing a career pivot, building leadership skills through diverse experiences, prioritizing team development, and the importance of finding meaning in her work.
Pivoting from the Public to the Private Sector
Lockett’s path into marketing in the beauty industry took an unconventional route, beginning with a career in international relations. Working on the Mexico desk at the State Department while getting a graduate degree, she found herself intrigued by the macro subject matter and sense of altruism behind the work, but ultimately craved a faster pace and more control. This led her to pivot into the private sector, earning an MBA in marketing and finance and joining Johnson & Johnson’s international rotation program before landing a role at L’Oréal in New York.
She reflects, “I was interviewing at the UN while I was interviewing at L’Oréal, but the next phase for the UN was sitting for an exam. When L’Oreal offered me the job, I had to choose. I remember there being a lot of pressure to make a ‘right choice,’ feeling the weight of a decision that might be irreversible.”
Lockett recognizes that even though she felt the heaviness of the decision at the time, she is pleased with the way things turned out, particularly as she never even initially saw herself in the beauty space.
“Initially, I didn’t see myself as a ‘beauty girl,’ but my perception has changed over time. I’ve really grown to adore it. Throughout my career, I’ve delved into various roles in trade marketing, brand marketing, and consumer engagement, all within the beauty vertical. I’ve come to realize that I am, in fact, a ‘beauty girl’ and I proudly embrace this identity.”
Empowering Women to Express their Unique Individuality and Beauty
Lockett finds her marketing career in the beauty industry to be as dynamic as she anticipated, constantly offering new challenges and opportunities that energize her.
“The platforms, retailers and landscape of competitors are always changing…there is also the opportunity to work cross-functionally with retailers, media partners, and event activation vendors, making it both diverse and exciting.”
Her enthusiasm for the work shows through in what she has been able to accomplish, with her team winning an Ogilvy award and two Glossy awards for different brand campaigns. These achievements also reflect her commitment to finding innovative ideas to break through and “introduce MAC to a younger Gen Z consumer.” She continues, “a lot of these efforts have been specifically targeted around those goals and have successfully moved the needle in increasing our awareness among younger multi-ethnic consumers.”
Lockett’s aim for MAC is to continue to promote and expand diverse representations of beauty, whether it be body type, skin color and texture, sexual orientation, or gender, through thoughtful decisions around casting, who they feature on their story wall, influencers they work with, and people they feature on their social handles.
“All of those representations are really powerful, and they make a huge impact on how people see themselves and experience the brand’s transformative effect.” She continues, “it’s about encouraging self-expression and experimentation and affirming that everyone is beautiful in their own way.”
Becoming a Well-Rounded Leader who Uses Her Voice
Lockett emphasizes the dual importance of creativity and operational savvy in marketing leadership. While innovative ideas are significant, effective leadership also hinges on adeptly navigating organizational processes, securing resources, and assembling the right team. She advocates for cultivating leadership skills through diverse experiences rather than solely focusing on moving up the ladder.
“Success stems from a breadth of experiences. The broader your understanding and hands-on involvement across domains, the better equipped you will be to thrive in senior roles. Focusing on the richness and depth of experience versus the speed to get there will pay off in the long-term.”
As Lockett builds on her varied experiences to advance her career, she is committed to using her voice and point of view in how she shows up as a leader, particularly as a woman of color. Even though she finds the beauty industry to generally have more women in leadership roles, she notes that there are noticeably more men in the higher ranks of beauty.
She advocates, “As you move up, it’s important to bring your voice and your experience. Remember to speak up, because you bring a unique perspective and a richness to the conversation or strategy discussion that’s not always represented.”
Valuing the Development and Growth of Her Team
Building relationships and sustaining connections is another key element of Lockett’s leadership style, particularly when it comes to managing a team.
“As your team grows and as your profile becomes more visible cross-functionally, simple gestures like walking around the office, asking about people’s weekends, and fostering personal connections can make a big difference in their engagement and commitment because they know you genuinely care.”
Creating engaged and high-performing teams by letting everyone in on the “why” can also go a long way in making people feel included and that they are an important contributing team member.
“As you progress into senior leadership roles, you may gain insight into the ‘why’ of certain strategies, yet this information may not always trickle down to every team. Pausing to communicate the overarching vision to the broader group and explaining the reasons behind our collective efforts fosters camaraderie, understanding, and an investment from the entire team.”
Beyond engaging her team in the vision, Lockett fosters a strong team dynamic in being accessible and open to hearing feedback, demonstrating that the team has a voice and can influence change. She also looks for opportunities for the team to bond outside the office, whether it be a graffiti class or mini golf, so that the team can get to know one another in a more relaxed atmosphere, as she notes, “it can go a long way when down the line they might be in a challenging conversation or have to work long hours getting ready for a big launch.”
Coaching Helps Connect the Dots
Lockett’s insightful reflections on her development as a leader are testament to the value of executive coaching, a recent experience for her.
“Having external perspective has helped me connect the dots between my experiences and approach to things by having someone externally mirror it back to me. Also, through targeted resources and exercises, I’ve gleaned more insights into how other people learn and how I may need to adapt and present information to effectively communicate and engage with others.”
Lockett notes that the benefit of having someone outside the organization facilitate that reflective process is that it helps reveal potential limiting beliefs or behaviors that may not be beneficial, opening new possibilities for how to approach an issue.
“I’ve seen the impact of leadership coaching reflected in my ability to dedicate more time with my team, listen to their perspectives and advocate for what they need in a way that I may not have in the past.”
Making an Impact with the Relaunch of VIVA GLAM
Lockett is an inspirational leader who not only hopes to make an impact with her team, but also on a macro level through the relaunching of the MAC VIVA GLAM campaign. The charitable arm of MAC, VIVA GLAM has given over half a billion dollars globally to support organizations in their mission to create healthy futures and equal rights for all. Now thirty years after its founding, MAC VIVA GLAM has an expanded mission with new pillars including sexual equality, racial equality, gender equality and sustainability that all markets can tailor with grant funding.
“Being involved with VIVA GLAM is one of my favorite parts of working on MAC. I get to oversee the programs that we will run and the charities that we support, allowing me to play a role in making an impact on something – and someone – that is much bigger than myself.”
Reflecting on where she started with aspirations to work in international relations, she realizes, “finding what’s important to you and how to bring that into your work” is what she values most, and she is excited to have an opportunity to continue to do that in her leadership role at MAC.
By Jessica Robaire
Why the “E” in ESG Matters: Environmental Responsibility for Companies and Leaders
Career Advice, Career Tip of the Week!Recent News in Business and Environmental Responsibility
According to the Morningstar report for the last quarter of 2023, “global sustainable funds experienced net outflows of USD 2.5 billion, marking the first time they entered negative territory. Despite the overall decline, European sustainable funds remained resilient and attracted USD 3.3 billion of net new money in Q4, primarily driven by passive funds. On the other hand, U.S. sustainable funds saw net outflows of USD 5 billion, contributing to a total of USD 13 billion outflows for the year.”
Interestingly, 2024 has already been a hotbed of progress and reversals with four leading banks announcing that they are leaving the Equator Principle formally due to Risk and Antitrust issues, but will continue to follow the tenets of the principle as a guide. Political backlash and special interests have cost BlackRock a self-disclosed revenue loss of $4 billion dollars with the recent example this past month whereby the Texas School Fund pulled away from Blackrock in support of Big Oil, stating Blackrock’s fund to be against state law which forbids boycotting fossil fuel.
While the volatility of the political landscape continues, there is no doubt that there are career opportunities forming from investment jobs to deeper compliance nuances for risk, legal, and compliance roles. The broader participation for ESG inside firms goes beyond the CTIO seat to every C-suite member with the consulting firms benchmarking and pitching to get companies ready for current and future legislation such as the ISSB standard IFRS S2. And the Global Stocktake is underway as countries plan for COP28 where they will assess the progress made toward mitigating global warming since the Paris Agreement in 2015. The results from the first-ever global stocktake will be discussed at COP28.
Navigating Environmental Challenges: Innovation, Trust, and Market Trends
Apple recently released a carbon neutral Apple Watch, the first in their lineup in working towards the ambitious goal of making every product carbon neutral by 2030. Technology and AI and startups in the space are driving innovation and fostering competitiveness. And it is innovation that can prevent or warn us of risks of climate change, including increased severe weather events, rising sea levels, and changes in temperature that can disrupt supply chains, cause infrastructure and property damage, and increase insurance costs, posing a significant threat to business operations and financial performance. The impact on the supply chain is long and deep with an example being that a 2022 drought in southwest China led to reduced hydropower production, cutting power to factories that supplied electronics and auto parts, and ultimately curtailed production for companies like Toyota, Volkswagen, and Foxconn.
As consumers and investors become more environmentally conscious, the value of brand reputation and stakeholder trust is particularly relevant. By showing a track record of environmentally responsible goals and outcomes, companies can gain the trust and buying power of consumers and investors. On the other hand, “greenwashing”, or making misleading claims about a company’s environmental impact, negatively impacts brand reputation and customer satisfaction. Showing a commitment to environmentally responsible practices is not only important for gaining consumer trust, but also in hiring and retaining employees. Like consumers, employees are interested in more than just paying lip service to “going green”, they also want to see tangible outcomes and be engaged in the process. Leaders can do more to address sustainability concerns transparently, building trust and credibility with stakeholders like consumers, employees, and investors.
The market is clued in to the mounting tide of support for environmentally responsible business practices, with investors and shareholders increasingly looking at companies’ environmental performance in considering their investment decisions. According to Morgan Stanley, more than half of individual investors say they plan to increase their allocations to sustainable investments in the next year, while more than 70% believe strong ESG practices can lead to higher returns. This shows that aligning with market expectations of environmental responsibility enhances companies’ attractiveness to investors and shareholders.
Wise Words from Top Women in ESG
Sustainability magazine named the Top 10 Women in ESG for 2023 who are worth checking out. The list of course is not exhaustive with so many great women having a role in the “E” in ESG, as it continues to play an important part in shaping corporate strategy, decision-making, and performance.
Ultimately change takes great negotiation skills and understanding. We recently profiled Susan Nickey, Executive Vice President and Chief Client Officer at HASI who astutely captures the nuance of the industry.
“When you’re trying to come up with a solution or break down a wall, it isn’t simply saying, ‘it needs to happen.’ You have to spend a lot of time thinking about creative solutions to make it work for an incumbent who might say ‘no, I don’t want that’, or ‘I’m not going to do that.’ It’s how you listen to both sides of an argument and come up with a creative solution. Thoughtfully parsed risk allocation, for example, can enable both parties to move forward in a way that they both deem is balanced and fair for them.”
The “E” in ESG is a fundamental aspect of corporate sustainability, responsible leadership, and long-term value creation. In the words of another of our recent profiles, Geneviève Piché, Head of Sustainable Finance and Advisory, Corporate Investment & Banking at Wells Fargo:
“Sustainability and climate efforts are about value creation. They are not check-the-box exercises. It’s about developing strategies that can drive value for companies while making the world a better place.”
Dania Shahzad: Business Manager, Client Advisory Group, PGIM
People, Rising StarsShahzad speaks to finding inspiration in her family, building confidence in the face of adversity, and how she lives her life steadfast in her conviction that women can do anything.
Finding Her Footing
Shahzad was inspired by her father’s successful career in the financial industry when she chose to major in business during her freshman year of college.
“My dad and I have similar personalities – we are both bold, confident, personable people. I used to go to ‘Take Your Child to Work Day’ and the New York Stock Exchange as a child, and it was so exciting. I was always interested in his world.”
As much as she found her father’s career in the financial services industry compelling, Shahzad recognized that, depending on the role, it could come at the price of long days and working weekends. However, she was determined to find a position and company that encouraged and supported a strong work/life balance while giving her the opportunity to learn, grow, and explore various facets of the financial services industry.
After interning at a variety of firms while in college, she was excited to land at PGIM upon graduating. She says the culture, the wealth of knowledge and breadth of opportunity at PGIM is what’s kept her at the firm.
“It’s a great company for somebody who wants to explore different aspects of the financial services industry,” Shahzad says. She shares that networking opportunities and business resource groups have been particularly enriching for her, as they bring together people from all different backgrounds.
“At PGIM, asking questions, making connections, and taking calculated risks are all encouraged—that helps employees maximize their potential and make the most of their careers.”
Since joining PGIM, Shahzad participated in a two-and-a-half-year rotational program, giving her exposure to several parts of the business and the chance to adapt to new challenges and build her skills. Now, as the business manager for PGIM’s Client Advisory Group, she enjoys handling a variety of responsibilities while leveraging her problem solving and project management skills, such as working on strategic priorities and business reviews, and making connections across the organization, which helps her make progress on the firm’s strategic initiatives and get work done more efficiently. This role has also pushed her to discover her voice, particularly as she is often the most junior person in the room.
Believing She Belongs in the Room
Oftentimes being the most junior person, woman or minority in the room can be intimidating under any circumstances. Shahzad notes that her resilience and courage have grown alongside her belief in the value she brings to the table because of her experience and the encouragement of mentors.
“I’ve grown through advice and mentorship. When entering rooms with senior stakeholders, I remind myself why I belong, why I should be there, and embody that. In the past, I would almost physically make myself disappear, taking more of a passive role in group discussions, but I have gained the confidence to show up more fully.”
One of the leadership positions Shahzad stepped into is as co-lead of the Asian Global Network, an employee affinity group at PGIM. The experience has given her the opportunity to make connections and form peer mentorships across the organization, building her network of support and influence beyond her own group.
“It’s exciting that despite being the most junior of the co-leads, people look to me for recommendations and leadership – and I get to build all these connections. The group has been invaluable to me.”
Shahzad reflects that finding her voice has not only impacted how she sees herself, but how she is viewed by senior leaders.
“It changed how my leadership team sees me. I’m considered someone who can lead and assume bigger responsibilities.”
Shahzad’s personal and professional growth have also influenced how she manages challenging working relationships. “I’m generally a very positive person, but at the same time, I’ve come to recognize and accept that not everyone is going to connect with me, and that’s okay.”
“I’ve learned that you can deliver your opinion, your voice, your vision to a project in a professional way, even when you’re not seeing eye-to-eye with someone. You can still work together productively.”
Embodying the Belief that Women Can do Anything
Shahzad credits her strong female support system as a significant contributor to the confidence she exudes today.
“I believe women are incredibly strong. I have learned so much from the women in my personal and professional life and their experiences. I look at what we’ve accomplished collectively and think, ‘We really can do anything.’”
She hopes to be an example to her two nieces, teaching them how to courageously show up in the world as their authentic selves.
“They are two South Asian females who are going to grow up in the U.S. I want to be able to help them navigate that experience, while also showing them all the powerful things that a woman can do.”
Shahzad notes that part of setting that example is demonstrating her commitment to giving back to the community that has supported her. Serving as the VP-at-Large for the New Jersey Institute of Technology (NJIT) Alumni Board of Directors, her alma mater, she engages with students and actively contributes to the university where she once held a full scholarship.
“Inside, I feel deeply privileged to have such a great life in America. I am passionate about wanting to spend more of my time giving back, and the Alumni Board is one way to do that.” Another important part of Shahzad’s philanthropy ties to her faith – spending time engaged with her local mosque and affiliated community organizations, such as supporting children in need.
Authenticity as an Influencer
Shahzad’s message of empowerment reaches more than the people she works with. In fact, outside of work, Shahzad has gained a following on social media, sharing beauty tips based on her cultural traditions, fashion trends, her adventures around the globe, and more. The success of her platform is evidence of the positive impact that can be achieved by having the courage to stick to your convictions.
“I was bullied as a child for having these beauty rituals, but I persisted because I believed in their benefits and cherished the bonding moments they created with my family. Today, the same hair and skincare secrets and ingredients are becoming popular and normalized in the beauty standards and industry in the U.S. I’m proud of these rituals and passionate about using my platform because I’ve worked hard to create a safe space for women to learn and ask questions while sharing tips from my family and our heritage.”
Shahzad also attributes the success of her platform to the skills she’s attained through her work at PGIM. Applying her project management experience and organizational expertise, Shahzad continually receives positive feedback from brand owners and CEOs about her high level of professionalism.
“I’m really grateful for the experiences I’ve had. I feel empowered that I can have this meaningful career in finance and get to express my more creative side—I can be myself all the time.”
By Jessica Robaire
Op-Ed: NextUp for Women Board Members – What’s your Plus One?
Career Advice, Career Tip of the Week!Among the top ten priorities for board selection, gender diversity dropped from top to #8. Hiring candidates with proven enterprise operating experience now topped the list. And there are significantly more males than female with proven enterprise operating experience. If boards are prioritizing traditional skills and capabilities – the pool of women candidates is now smaller. Will all the progress advancing women into board positions now decline?
Maybe not. First, remember that there are exponentially more opportunities for directors beyond the S&P 500. Hundreds more. And if we add private equity boards and startup companies, these opportunities are in the thousands. While competing for board positions will always be competitive, if you broaden your pool and extend your network beyond a traditional set then you might find some interesting opportunities.
I have had the privilege of serving as an independent director on two private equity boards owned by companies, Altamont Capital Partners, and The Riverside Company. I currently serve on a public company board, Cantaloupe, Inc. (NASDAQ: CTLP), and I am a non-voting board member of NextUp where I serve as chief executive officer. NextUp is the premier nonprofit member association firmly focused on developing the pipeline of future women leaders. Women reach out to me to find out how I was able to land these directorships. And as a woman whose day job is helping women advance in business, I am more than happy to offer a few words of advice.
First, think about how your specific skills might give you an enormous competitive advantage. Define your advantage as your “Plus One.” I landed my first board position on a private equity (PE) board looking for a woman + Olympic licensing experience (that is a pretty short list!). But this company was the leader in design and manufacture of gymnastic apparel. What is your Plus One? If it is Artificial Intelligence, your phone will be ringing off the hook! How about experience in direct marketing or membership? I am going to bet that pharmaceutical companies engaged in serving millions of consumers purchasing weight loss drugs are going to be looking for women with a Plus One in CRM.
Which brings me to my second most important piece of advice.
As a board member, your job is to “govern” not to “do.” The quickest way to derail a healthy board discussion is from the rookie who thinks they are on the board to do the job of the management team. They are not. The exception is your role on the board committee. Your finance or accounting degree is going to look attractive to a board looking for someone to serve on Audit. Your HR background will make you a stellar match for Compensation. But, as an independent director, you are there to advise, support and evaluate. Conversely, if rolling up your sleeves and diving in is your gig, then a private equity opportunity may be the right match for you. PE boards prioritize subject matter expertise and are willing to take a risk on those with broad experience, but with a more junior title. They value seasoned pros who lean in on projects. Or have an unbelievable rolodex to help the company. Making a personal investment might be a way to further underline your commitment to the board.
Finally, board positions—private and public—are rare. There are a number of other opportunities where you can gain experience, satisfaction, financial reward and valuable experiences. Right now, as CEO of NextUp, I am fulfilling one of the most satisfying career goals by developing thousands of the next generation of women business leaders. For two-plus decades, NextUp has been partnering with corporations to provide opportunities that build capabilities for the next generation of leaders. And I am certain that more than a few of these will end up in the boardroom.
By: Lisa Baird is the CEO and board member of NextUp, the nonprofit that advances all women in business, and serves on the Board of Directors for Cantaloupe, Inc., a digital payments and software services company that provides end-to-end technology solutions for self-service commerce, and which is recognized as a “Champion of Board Diversity” by the Forum of Executive Women for three years in a row. Cantaloupe is proud to have 44 percent of its Board women. Lisa previously served on the boards of Elite Sportswear and Fox Racing, now a subsidiary of Revelyst.
(Guest Contribution: The opinions and views of guest contributions are not necessarily those of theglasshammer.com).
Shekhinah Bass: Managing Director, Head of Talent Strategy, Goldman Sachs
People, Voices of ExperienceIn turn, Bass champions diversity herself formally via her role and also through her authenticity. As a mother with a successful career, she grounds herself with the mantra, “run your own race.”
Upon joining Goldman Sachs as a summer analyst, Bass never envisioned her journey leading to a career in the financial services industry. Her intent was to go to law school after graduation as she believed it was the only way to add value to society. However, through her experience at the firm, she learned what she really enjoyed doing was advocating for diverse professionals which she had the ability to do in Human Capital Management (HCM) at Goldman Sachs. Ultimately, she accepted an offer to work on the diversity, equity and inclusion team and realized it was also an opportunity to make a meaningful societal impact.
Feeling passionate about engaging in the Human Capital Management space, Bass went on to build her portfolio by working in many different HR disciplines, including performance management, employee relations, and chief of staff to the global head of HCM. She now is the head of talent strategy where she oversees the execution of a wide range of talent management priorities, focusing on development, engagement and retention.
Building the Pipeline of Diverse Talent
One of the ways that Bass is making an impact on elevating and empowering diverse professionals at Goldman Sachs is through the Black Analyst and Associate Initiative, where she is one of the coaches. Recognizing that in order to see more diversity in leadership, there needs to be a way to foster young professionals and build a pipeline from the beginning, the Black Analyst and Associate Initiative creates a formal structure for engaging and providing support for diverse professionals from the earliest stages of their careers.
Bass explains, “the experience is based on the relationships. We bring together the Black analyst, their manager and also a coach that’s assigned to them. It’s a trio that works together to make sure that analyst or associate is having the best experience while giving them advice and coaching them through how to be a successful professional at the firm.”
The program has proven to be beneficial for diverse junior talent as they begin their journeys at Goldman Sachs.
“Our junior talent is having a more positive experience. And that’s because we have this more structured program versus only relying on it to happen organically. Having that structure adds more rigor in making sure that you capture that person who may be shy and not want to go to an event where relationships may form, but is still very talented, smart and could benefit from a coach.”
Another development piece in building the pipeline for diverse professionals to excel at Goldman Sachs is the Women’s Career Strategies Initiative. The program is 4-6 months and includes women who are at an associate level, nearing promotion to vice president. Throughout the program, women have access to developmental content and are invited to events where they engage with senior leaders, both women and men, across the firm. The connections that the women make with their cohort are also invaluable to their career growth.
As a sponsor in the program, Bass speaks to its impact on promoting and retaining women.
“I had about 10 high performing women who I got to spend 5 months with — getting to know them, giving them advice, talking through this transition as they were coming up on moving from an associate to a VP, hopefully. And nearly everyone got promoted to a VP, which I’m very proud of.”
She continues, “We’ve seen many alumni of the program have long and successful careers at the firm…They weren’t partners or MDs when they went through this program, they were associates, and so it shows you that we were able to really engage them, retain them, get them excited to work at the firm and feel connected to continue to grow their careers at the firm beyond the program.”
Managing Change and Taking Advantage of the Support Around You
Bass knows from experience that finding the right support can be key when navigating transitions both professionally as well as personally.
“Coming from humble beginnings to get to where I am, I feel proud, but also feel very fortunate that I had so many mentors and sponsors along my life to get to this point.”
Bass talks about the importance of recognizing that the phases of life can create questions of how to proactively manage your career at different critical points and nuanced advice is required for the challenge at hand.
“In each moment, I was always able to identify someone who, even if they haven’t gone through the same experience, had some knowledge that they could share with me on how I can navigate that moment.”
An important mentor for Bass was a manager she sought guidance from during her first pregnancy.
“When I first found out I was expecting I was excited because it was what we wanted, but when it became a reality, I got very nervous and scared. I was grateful that I had this ‘maternity mentor’ that I could go to and ask questions about, ‘How do I communicate this to the team? How do I prepare to be out? How do I operate when I get back?’”
Now a mother of five, Bass knows what it takes to transition back from maternity leave. She advocates for taking advantage of the support that’s around you and feels fortunate that at Goldman Sachs they have resources like backup childcare and lactation rooms to help support working parents. She has learned that it is important to, “be willing and open to taking on that help because I think a lot of times people feel like they need to be able to do everything. And you really don’t.”
Run Your Own Race at Your Own Pace
Along the path of her career, Bass found a mantra to keep her grounded: “I need to run my own race.” She notes that it can be easy to get distracted trying to keep up with everyone around you, but in the end, you must prioritize what is important to you professionally and personally.
“It’s fine to look to your left and look to your right, and that will give you some sense as to what might be important to you, or a goal you might want to set for yourself, and that’s fine. But don’t get caught up in the competition of it all.”
Part of setting your own pace is creating boundaries and sticking to them.
“You have to be clear on setting boundaries and priorities. Any organization is going to take all that you’re willing to give, so it’s up to you to be the person to set those boundaries for yourself. It doesn’t mean that you’re not going make sacrifices or that there will not be this push and pull constantly, but each time that happens you need to be very thoughtful about whether it’s the right trade-off.”
Showing up with Authenticity
Living her life at her own pace is an example of how Bass shows up authentically and pushes for things that she values in a genuine way.
“I’m a Black woman who is also a mother and a wife to my husband. I have all these different ways that I define myself, and I bring all of that to all the spaces that I enter.”
Bass believes it is important to show up authentically as it sets the tone for those coming up behind her.
“It’s simple things. For example, how I wear my hair at work sets the tone for other young Black women coming into the organization. I’ve had people ask me, ‘is it okay to wear my natural hair?’ I’ve never given myself the title of cultural or diversity change agent, but it is this notion of showing up authentically to the spaces that I occupy, that I hope allows this shift or change to happen naturally.”
From her enthusiasm, Bass clearly brings her whole self as much to her personal life as she does her professional. A mother of five with an engaging career, Bass admits that these days her leisure time is devoted to her family, particularly as her two eldest children play on travel soccer teams. Calling herself a “budding soccer mom”, Bass expresses joy in having the opportunity to take her children to practice and shouting from the sidelines when they play in tournaments.
By Jessica Robaire
The Impact of Emotional Labor on Women Managers
Career Advice, Career Tip of the Week!It might be even more jarring to feel expected to mask your real personality traits to fit in with the men by being the right kind of female manager, according to the false generalized stereotype of all women being compassionate, as this also is emotional labor to mask.
These efforts are expected from women in the workplace because they are stereotypically seen as more nurturing and empathetic. However, the same expectations aren’t placed on their male counterparts. Let’s find out why — and how you, as a manager who happens to be a woman, can use emotional labor to your benefit.
What Is Emotional Labor in the Workplace?
Emotional labor consists of the intangible, mental hoops people go through to ensure smooth operations and relationship maintenance, and often requires managing your emotions. This can happen in the workplace or, most recently recognized, in the home.
To cater to the needs of others, women often have to mask their own emotions. This can be cumbersome when working in leadership. If a home environment that requires much of the same is added to the mix, it can be even more taxing. Emotional labor in the workplace should be distinguished from simply exhibiting emotional intelligence. Of course, you need a certain level of emotional intelligence, or knowledge of how to manage and interpret emotions, to be successful in the workplace. The labor aspect is where you can find yourself masking your true emotions or experiencing burnout from too much emotional involvement at work.
Emotional labor is often devalued in and outside of the workplace. Productive work, like creating goods and services, is rewarded for its tangible results. However, ideal work environments are also ripe with mental and emotional care.
Surface Acting and Deep Acting
Emotional labor can consist of surface acting and deep acting. Surface acting involves the emotional laborer putting on a fake show of emotions to keep things running smoothly at work and fit in with norms. This is often exhibited by female leaders who are expected to not act “bossy,” “overbearing,” or “too emotional.” Deep acting exists when the laborer tries to, and often successfully does, change their true emotions to match what is expected of them. This way, emotional displays are more characteristic of what they are really feeling and, therefore, less emotionally and mentally draining.
While managing emotional displays is a crucial part of success in the workplace and interpersonal relationships, it can be problematic if taken to the extreme. Women in leadership also find themselves having to manage the emotions of others at work, such as mediating a dispute between colleagues or talking down angry customers. Traditionally, leadership roles don’t include this type of work, as it is delegated to those in lower positions. This sequestering of emotional labor can be traced back to patriarchal structuring.
This still seeps into how women are treated in the workplace, today. However, female leaders can take control of the narrative.
Reclaiming Control Over Emotional Labor
The inherent ability of women to not only enact emotional labor but do it exceedingly well is a desirable trait. Although this need is typically unspoken, many organizations could benefit from an open and honest conversation about how emotional labor is required to make their company tick.
Even if you are reluctant to lead, you may be more suited for a leadership role than you think. It’s within the realm of possibility to teach your team why emotional labor needs to be valued and recognized. You can point out flaws in gendered assumptions, and help higher-ups and colleagues focus on your strengths and achievements. It’s important to also set boundaries around emotional labor so that you aren’t expected to take on every burden. Learn to prioritize yourself and delegate emotion-laden tasks, and your leadership skills will flourish.
There are strategies women can employ to assert themselves effectively without shouldering unnecessary emotional burdens.
Resonating With Your Team
Along with your qualifications, your ability to be a present, concerned, clear, and genuine leader is a clear advantage. Educate your team when possible about what it means to be a woman in leadership and how they can support the emotional labor you are doing behind the scenes. Empathetic leadership can foster a more balanced workforce, allowing you to focus on your strengths and advocate for change.
Effective leaders are well-versed in emotion management, which can help you get team buy-in when it matters most. You can use your emotions to share your vision and emphasize the importance of teamwork on the project. A supportive environment will be worth the work once your team starts managing their emotions effectively and working toward a common goal.
Moving Forward
Recognize and advocate for the emotional labor you do as a woman in leadership. Some of your colleagues or higher-ups may be reluctant to accept that this is a large part of how businesses treat female leaders. However, pushing for a more inclusive environment can help women in the workplace everywhere. Plus, you’ll feel better knowing that you don’t have to suffer in silence any longer. You can use your emotional labor skills for good, paving the way for a more equitable and supportive work environment.
By: Indiana Lee is a passionate writer from the Pacific Northwest, specializing in business operations, leadership, and marketing. Connect with her on LinkedIn.
(Guest Contribution: The opinions and views of guest contributions are not necessarily those of theglasshammer.com).
Jill Ford: Co-head of Equity Capital Markets, Wells Fargo
People, Voices of ExperienceEmbracing Change No Matter How Established You Are in Your Career
With more than three decades of experience in investment banking, Ford is motivated by the ever-evolving landscape of the equity capital markets and the broad array of challenges and opportunities it presents. However, it took trying a few different jobs in the beginning of Ford’s career to discover that a role in equity capital markets was the right fit for her. She reflects that the twists and turns of this early stage were important in understanding, “what I enjoyed doing and what I didn’t enjoy doing, but also to see what I was actually good at and what I wasn’t particularly good at. Both of those things are hard to get a handle on until you’re in the workforce doing the job.”
Ford recently embarked on a new challenge in her career, leaving the firm where she started her career and where she had worked for two decades, to join Wells Fargo as co-head of Equity Capital Markets. Her decision highlights the importance of embracing change, no matter how established you are in your career. She acknowledges that there was a steep learning curve in getting acclimated to a new firm and job, not only in the sense of building a network of connections across another organization, but also in proving herself and establishing her value. Now that she has settled in, she is pleased to find that her instincts landed her in the right place.
“I’m thrilled to be a part of Wells Fargo…I’m starting to feel ingrained in the culture, particularly how team oriented it is. Everyone is eager to help me navigate the company and connect me to others. There is a wonderful momentum and energy throughout the organization.”
Success and Development as a Leader
As a leader in equity capital markets, Ford knows what it takes to rise through the ranks. Reflecting on what has contributed to her success, Ford points to having the discipline to put in the work and build relationships with clients over time by actively listening to their concerns and what’s important to them.
“Being willing to go the extra mile for a client, being willing to go the extra mile for a team, creates a certain amount of goodwill.” She adds, “I have a strong muscle for taking in what is important to different stakeholders, synthesizing how to best serve them, and giving them options that optimize that priority stack.”
Ford believes that being a good leader is about going outside your comfort zone. She shares the example of offering constructive criticism as a tool for helping others grow.
“Being willing to give constructive criticism to people, even if it feels uncomfortable, is a skill that I’ve had to acquire. Not just giving feedback once a year during reviews but giving it constantly. People will be able to move their careers forward much more quickly if they’re given not just the pats on the back, but true constructive criticism.”
She continues, “I mentor people that way as well, which is not just to say, ‘okay, let’s have a coffee and I’ll tell you how great you are,’ but ‘let’s have a coffee and discuss where you think you might fall short. Then I’ll tell you what I think or help connect you with people I know will give you a straight answer.’ There are ways to coach that feel good for everybody and there are ways to coach that might feel a bit outside your comfort zone, and you have to do both.”
Reflecting on the constructive feedback she received over the years, Ford benefited from it but also wishes she had received more, noting it was hard to come by earlier in her career when there were fewer women leaders around her.
“I feel like a lot of men shied away from having those difficult conversations with women or anyone who didn’t look like them. In the end, that stymies your goals and your opportunities to advance.”
As more women have risen to leadership positions over the years, Ford has seen a productive shift.
“The playing field now is a little bit more level – because men see us as equals, they’re more willing to have those tough conversations with us, which is refreshing.”
Learning from Other Women Leaders and Being the Model for the Next Generation
Given the history of underrepresentation of women in senior leadership positions in the financial industry, it’s no surprise that another significant element Ford attributes to her career development is having the guidance of other women leaders as role models.
“There must be mentorship and guidance, whether it’s formal or informal, or you’re not going to see the end game for your career. As a leader, I have to be that person for others. Seeing a woman or diverse colleague reach the upper rungs and manage groups is not only inspiring, it sends the message to others that you can make this happen too.”
Ford shares that her greatest inspiration came from a senior woman leader who not only exemplified effective leadership but also spoke about the importance of her family.
Ford continues: “She had an incredible ability to get what she needed to be successful at her job, both up and down the chain. She also was the one who debunked the notion that ‘you can only have one kid in finance’ because she had three. She told me how she made it work and gave me a lot of practical advice for having multiple kids. Then she went on to become the CFO of a multibillion-dollar company.”
Aware she will be that inspiration for others, Ford is pragmatic in her approach to balancing her career and motherhood, acknowledging the sacrifices involved in having a demanding career while giving her children the quality time they need.
“I don’t sugarcoat how hard it is, but I always let people know it gets easier. The more senior you get, the more you can delegate…Your job and being a mother are both full-time jobs and it’s impossible to have two full-time jobs, but you can outsource what you need to outsource. You can ask people to help you and you can put your foot on the accelerator and on the brake at different stages in your life and at different points in your kid’s life to make it all work.”
The advice she offers is: “Be a sponge, figure out how everyone’s unique situation is working for them and then take the best parts that might apply to your situation. Make sure you have support, whether it’s a spouse or parents or hiring babysitters, so that you can figure out how to get the job done with more than just you.”
Finding Joy Personally and Professionally
Now that her children are older, Ford feels the pull of the balancing act less. She has more time to dedicate to her passions, both professionally and personally.
From a personal standpoint, Ford finds joy in downhill skiing and calls it one of her “secret weapons” for staying close to her children as it brings the family together outside in nature. She is an avid foodie and delights in a good taco truck as much as a Michelin starred restaurant, both of which are easy to find near her homebase of New York City. In her spare time, you might find Ford pouring over an interior design magazine, exploring her interest in innovative design concepts.
Professionally, Ford is excited for the what the future holds in leading the Equity Capital Markets business at Wells Fargo.
“I want to continue to be a part of companies that are transforming the world for good. There are many small companies that have great ideas and investors who want to put money to work in those types of endeavors. I relish being a part of linking these two worlds to move the ball forward and effect change.”
By Jessica Robaire
International Women’s Day – Inclusive Leadership Matters
Career Advice, International Womens DayThough she’s lived in Europe for more than 25 years—15 of those in Munich, Germany—and speaks three languages, Christine Fritz credits her upbringing in the New York City suburbs with shaping the attitude she’s brought to her 20-year career in real estate.
“American education puts a lot of emphasis on creativity and taking a broad view of things,” she says. “Being outspoken and authentically you is encouraged. I bring that approach to my team by encouraging everyone’s diverse strengths.”
Fritz is co-portfolio manager of PGIM Real Estate’s European core equity strategy, responsible for a key part of the asset manager’s nearly $15 billion in assets under management and administration in Europe. The strategy invests in high-quality, income-producing properties across the logistics, prime office, residential, senior and student housing sectors throughout Germany, France, Italy, the Netherlands and the United Kingdom.
For International Women’s Day, Fritz spoke about her role at PGIM, her career, and why it’s important to create and support an environment of diversity and inclusion in the workplace and beyond.
Success requires diverse thinking
Throughout a tough real estate cycle, her team’s focus has been on growing the European core strategy’s income by increasing rental income, working with on-the-ground property managers and keeping tenants happy. That approach has seen success—the strategy has an over 96% occupancy rate and was responsible for 15% of all logistics leases signed in the German capital, Berlin, last year.
An important part of that is understanding what makes real estate assets more attractive.
“Real estate is about living and working, but also about the places in between,” Fritz says. “Designing places and looking at investments with the safety and comfort of the whole population in mind allows us to make a positive impact and make better investments.”
She quotes Danish architect Jan Gehl, “If you design places for 2-year-olds and for 82-year-olds, you will achieve the best possible result for all ages.”
Fritz says that in real estate, diversity of perspectives is vital to selecting successful investments across different countries and asset classes.
“Trends will often start in one location and then move to other countries,” she says. “If you talk to different people, you can get a broad perspective of how things are moving and use that information to predict how things might move in the future.”
Surviving the balancing act
Diverse, however, didn’t describe the work environment Fritz encountered early on in her career at a different firm.
“All my colleagues at the time were male,” Fritz says. “They were all going to meet up with the brokers to play soccer together. It didn’t occur to anyone to invite me, even though I played soccer in school.”
Many times, the slights were much more subtle—and Fritz doesn’t doubt that many of her colleagues were simply unaware of them. But returning from maternity leave after the birth of her first child, she saw just how insidious such behaviors could be.
The office was mostly empty by 6:30 p.m., but Fritz received pushback for leaving at 6 p.m. to be home with her child. The culture at the firm didn’t encourage speaking up about it.
“People treated me like I was working part time. They even made jokes about it,” she says. “It didn’t matter how many women had the same issue. It didn’t exist.”
Change begins with speaking up and leadership that listens.
Fritz says the environment at her current employer is far different.
When Fritz joined PGIM three years ago, the real estate industry was entering a crisis. The pandemic and remote work were decimating the office space market, and after Russia invaded Ukraine, central banks throughout the world began fighting inflation with increasing interest rates, causing values to fall.
Yet Fritz noted PGIM Real Estate remains committed to its diversity, equity and inclusion initiatives. One of them was PGIM Real Estate’s Inclusion Leadership Network, a global grassroots organization focused on driving culture change and inclusion by building awareness and removing hurdles in the careers of under-represented groups, whether based on race, gender, sexual orientation, socio-economic background, or disability. Focused on moving the needle on a local level, the ILN also has quarterly virtual meetups including colleagues from all over the world, to discuss challenges faced in the workplace, improve networking and career opportunities, and help the business change for the better.
Fritz was encouraged by leadership to join the network and become one of its co-leads in Europe.
“The senior management here really sees the business case behind this,” Fritz says.
Listening to colleagues from different backgrounds across different functions gave Fritz a broader perspective on what it meant to create a truly inclusive culture.
“I’ve learned about the challenges faced by people with different backgrounds and life experiences, about my own privilege and blind spots,” Fritz says. “I’ve learned about all the hurdles I haven’t had to jump over.”
Since Fritz joined, the Inclusion Leadership Network in Germany has hosted breakfast networking sessions, at a time the group finds most convenient for working parents who may need time to drop their kids off at school.
“Being able to talk openly about where the gaps are, and have people listen, is a massive improvement over what I’d seen before in the industry,” Fritz says.
Now a mom of two—a six- and a 10-year-old—when she speaks with other women in the field, Fritz emphasizes that keeping one’s authenticity amidst the challenges is key to a successful career.
“I don’t want anyone to think that it’s always easy or that you have to be a superhero to manage it,” she says. “What really matters to you? Finding a way to balance your priorities means talking openly about the trade-offs that you want or have to make.”
Contributed by PGIM Real Estate
Susan Nickey: Executive Vice President and Chief Client Officer of HASI
People, Voices of Experience, Women's History Month“When you’re trying to come up with a solution or break down a wall, it isn’t simply saying, ‘it needs to happen.’ You have to spend a lot of time thinking about creative solutions to make it work for an incumbent who might say ‘no, I don’t want that’, or ‘I’m not going to do that.’ It’s how you listen to both sides of an argument and come up with a creative solution. Thoughtfully parsed risk allocation, for example, can enable both parties to move forward in a way that they both deem is balanced and fair for them.”
Nickey cites the clean energy industry itself as a perfect example of how creating innovative change can bring significant, positive impacts. “I have spent my whole career in the clean energy industry, becoming passionate about the cause of making the environment cleaner. Working with people who share my passion only makes what I do more fulfilling. Every day, I wake up with the thought that I have an opportunity to make a difference.”
Finding Her Way to Making a Difference
From an early age, Nickey knew she wanted to make a difference. She recalls in elementary school her mother lecturing her that it was her obligation to “make the world a better place,” observing she was naturally talented. Although Nickey initially considered a career in medicine, her focus and interests migrated to pursue a career in global finance as a path to tackling “big international problems.” But it wasn’t until she met a business client of her father’s, a Swiss banker, who advised her to set a path forward and commit to it, that she started to set herself on a dedicated path to achieve her goals.
With a strong, early focus on languages and math, Nickey entered the University of Notre Dame, majoring in Finance and studying abroad for a year in France. She completed her formal education with a master’s degree from the Foreign Service School at Georgetown in International Business Diplomacy. After taking a position at ABN AMRO Bank and being accepted to join their first non-Dutch expat program, she was on the road to fulfilling her early dreams of a career in international finance. But an unexpected opportunity within ABN AMRO arose that changed her trajectory when she was offered the chance to join the Bank’s first energy-focused project finance group. Nickey remembers her boss at the time telling her that she should grab the opportunity to work in the U.S. power industry, foreseeing it would become a “game-changer.”
“I was assigned to lead alternative energy. I ended up being at the brink of the industry before ‘renewable’ was a common industry term and before wind or solar were even on the landscape – but we were on the cusp of what we now call the ‘renewable energy industry.’ Looking back at my early discussion with that Swiss banker, I frequently give that same advice to other people making career decisions. Namely, it’s important to set a course, to be on a path, and to show that you’re driven and that you know how to get places. But adding from my own experience, I also emphasize being open to pivoting along the way – to consider new opportunities that arise – and if it’s the right one, grab it. You never know where it will take you! And if you’re like me, the framing you developed in your early days will stay relevant in your new career chapter and can still bring you to where you set out to go originally on a different route.”
Since that pivotal decision to move to the alternative energy sector in 1988, Nickey has continued to build her career, earning several accolades and recognitions along the way. Among these awards are Tamarindo’s Wind Power List (2023), A Word About Wind’s (AWAW) North American Power List (2018-2022), AWAW’s Women’s Power List (2021), Environment+Energy Top 100 (2021), and The Cleanie Awards Woman of the Year (2020). Nickey also currently serves as chair of the board of the American Clean Power Association.
Becoming a Leader in the Clean Energy Industry
Being at the forefront of a new industry allowed Nickey to flex her creativity to develop solutions to the challenge of getting people on board with investing in new energy sources, which in the early days seemed cost prohibitive.
“I remember the early days when the consensus was that wind and solar would never be more than ‘alternative’ – and would only amount to 1% or 2% of our total energy mix because they were unaffordable. It was important to stand back and say, ‘how do we make it more affordable?’ And the solution was not just improving technology, but also driving innovation in financing structures and lowering the cost of capital for an energy industry with high upfront capital costs but harnesses an energy source which is free. If you believe like I do that we need renewable energy, that we need cleaner energy, we have to keep finding innovative solutions. Saying ‘No, this can’t work’ was not then and still is not an option for me.”
Learning to Work with Opposition
Nickey notes that she has been surprised by how you can change people’s approach or their entrenchment in an old model. Breakthroughs arrive by not only being persistent, but also by listening closely and mindfully, maintaining a rational mindset, and “meeting people where they are.”
“When you keep pushing forward and creating allies along the way and are not afraid to engage with detractors or people putting up walls, you can get great things done. I’ve been pleasantly surprised when the person I thought was an immovable opponent to something all of a sudden comes back and says, ‘Hey, it wasn’t about you. I’m really glad we got this done.’” She continues, “Everyone’s human and worthy of respect. If you can understand and acknowledge where they’re coming from – and find those points of common ground – great things can get done.”
Nickey credits her approach in part to her early master’s training at Georgetown. At the time, the program was led by Madeleine Albright and diplomats including Henry Kissinger would come to lecture. Learning from two great Secretaries of State, and other people during this time, the skills of the “art” of negotiation and diplomacy shaped her approach toward constructively dealing with opposition.
“You may not agree with everything but try to find a common ground and create some trust – establish a personal bond. With that, from my experience, I’ve solved and negotiated through my most intractable, unwieldy, and thorny situations.”
The Value of Mentors and Growing a Network
In her own life, Nickey prizes continued openness to learning and getting feedback from others. In talking about the value of mentorship, she notes that the gift of a true mentor is not only someone who gives good advice but also is willing to observe you closely, to see and to identify where there may be gaps. Nickey believes it is important to find people in one’s life who are willing to give candid feedback about strengths and weaknesses and are comfortable talking about personal opportunities for development.
“By yourself, it’s very difficult to see the whole picture of your life – how you come across to others in your business life, in your personal life. And looking back, the best mentors in my life were the ones that pushed me the hardest – the ones who prompted me to understand myself, then take my game to the next level. For me, that was the best career help I ever received.”
Going beyond individual mentorship, Nickey emphasizes the importance of leveraging a network of mentors, particularly as a woman, in energy or finance. “People get ahead or get in the door because they have mentors, sponsors, and networks. You still have to walk through that door each day and deliver yourself – being devoted to building a real network will prove invaluable to opening doors and creating opportunities. And now, where I am in my career, I’m surrounded by successful women at all levels. I have the opportunity to leverage that network and develop it to be even stronger than it has ever been.”
Collaboration is Key
Collaboration has been a key component of Nickey’s leadership approach, and it features strongly in her advice for women who are mid-career in their leadership journey.
“Respect everyone who is in the room with you. You have been asked to work on a multi-level team, be mindful not just of ‘the boss’, everyone in the room has ideas to bring and value to contribute. By listening to everyone, and respectfully communicating to everyone horizontally, not in silos, you will bring people together to drive forward whatever project or whatever collaboration you’re working on. Work to ensure everyone is engaged in a successful outcome.”
Nickey loves competitive sailing. She grew up sailing and racing and enjoys the opportunity to get back into competitive sailing now that she lives in an area on the water in Maryland.
“It’s very much a collaboration: learning how to speak to each other clearly and efficiently, being close enough to know what the other person is going to do, having a basis of trust that everyone’s going to do their part, and that if something starts going wrong, being confident to know how to pitch in and that the team will all come together. I realize I not only like sailing and racing because it is beautiful to be out on the water, but it is also very much a tactical intellectual sport to navigate the wind, the weather, and the waves. Best of all, it also reminds of the beauty of teamwork.”
By: Jessica Robaire