By Aimee Hansen
Leadership today is not crying out for people who are destined to be great. It’s crying out for people who are dedicated to being present.
We don’t need bigger beacons to admire at the top, but human beings who can connect and be here now.
According to Gallup, 85% of employees are not engaged or actively disengaged at work. Forbes found that more employees (65%) would rather see their bosses fired than receive a raise. Research reveals a massive chasm between leaders’ self-perception and how their employees see them. One McKinsey study found that 86% of leaders rated themselves as inspiring, but a Gallup survey found 82% of employees see their leaders as uninspiring.
“Around three years ago, we started to see more and more leaders today being overwhelmed, being always on, not being able to keep up,” says Jacqueline Carter, partner and North American Director of Potential Project and co-author of “The Mind of the Leader – How to Lead Yourself, Your People and Your Organization for Extraordinary Results.
“This is equally evidenced by research that shows what we’re calling ‘a real crisis in leadership,” says Carter. In partnership with HBR press, her organization conducted interviews with 250 C-suite executive interviews, assessed 35,000 leaders and reviewed previous studies.
Leadership Begins in the Mind, and With You
“An unmindful leader is someone who is distracted all the time, who has a hard time getting things done, probably not very calm, maybe stressed,” says Carter. Mindfulness develops the ability to say: “Okay, no matter how chaotic it is out there in the external reality, I can maintain a sense of focus and of discipline and of calm in my internal reality.”
But most leaders don’t feel that way.
“The Mind of the Leader” research found that 73% of leaders feel unmindful most of the time and 67% of leaders feel their minds are simply cluttered. Attention itself has been touted as the world’s scarcest resource in the book, “The Attention Economy: Understanding the New Currency of Business.”
“If we don’t have the ability to understand and lead our own mind, we’re certainly not able to be effective for ourselves,” notes Carter, let alone able to understand our people or the “collective minds of the organization” so that we may lead effectively.
Three Steps to Start Your Own Mindfulness Practice
1) Start a 10 minute guided practice with this app: Research shows that after 14 days, 10 minutes a day, you can actually see the impact of feeling a little more focused, more calm, more clear-minded.
2) Take stock of distractions: Carter advises to take stock of what keeps you from being focused (eg phone on in meetings). Minimize the amount of habits that distract you and create scattered feelings, tension or stress to increase your focus.
3) Stop the multi-tasking: According to Carter, multi-tasking is a myth (the brain conclusively shows we can’t give real attention to two things at once, we just flit between). We can reduce our stress levels by not scattering our attention.
When it Comes to Effectiveness, Mindfulness is a No-Brainer
Mindfulness practice cultivates self-awareness, which is a foundation of good leadership. Mindfulness has been associated with benefits such as enhanced focus and better task performance, enhanced work-life balance, more creativity and innovation, better decision making and problem-solving, more ethical decision making, increased job satisfaction, fewer sick days and more retention.
On a personal level, mindfulness can bring better sleep, enhanced attention, decreased stress, reduced cellular aging, increased emotional intelligence, and also benefits for the immune system, brain, heart and blood pressure.
What is also required, according to Carter, “is not letting our egoistic tendencies drive our behaviors” while “bringing more compassion and kindness into our work places, for strategic reasons, not just because it sounds like a nice idea.”
Why Leaders Need to Watch Their Ego
The research found that when we rise in leadership, it’s incredibly difficult not to develop a big ego. Leaders are listened to, surrounding with people who praise them, paid more and maybe have the fancy corner office.
“There’s all these subtle things that tell the brain, basically, you’re important,” says Carter. “And ego naturally grows.” So, rising into leadership has a tendency towards corrupting our behavior to be ego-driven.
For example, Carter points out, “One of the things about having a big ego is that we’re more susceptible to confirmation bias. We want to see things through the lens of the way we want to see things.”
Mindfulness practice is a way of training your mind to break unconscious biases, to affect how you relate and respond – to stay open, fluid and and respond rather than react.
“We know that we are emotional beings as opposed to rational beings. Too many programs that focus on unconscious bias appeal to our rational approach: ‘Okay, I understand diversity is good’. But we also understand that doesn’t change our behaviors,” asserts Carter. “If we all knew the right thing to do and that enabled us to do it, we’d all be exercising, we’d all be eating well.”
“It’s the same thing with unconscious bias,” says Carter. “The motivation needs to be there, which is the awareness piece, but we also need to train ourselves to be able to overcome those biases that are so unconscious they’re much more difficult to tap into.”
Mindfulness Cultivates Presence and Self-Care
“When somebody is more centered and more grounded (not about being arrogant) but has a strong sense of themselves, you feel that, and you respect them more,” says Carter. “It’s easier for people to listen to those people, because they draw people in.”
The more we cultivate presence, according to Carter, the more we can overcome the cultural addiction to action. More presence means less hustle.
“Being more mindful enables you to set more boundaries, and that was true for all the leaders we spoke to, but certainly the female senior leaders…” says Carter. “It’s a combination of being able to be mindful about what you can do and what you can’t do, and be okay with the fact that you may let people down, but you need to be able to take care of yourself.”
Presence helps us discern what is necessary, what we can put our focus on effectively, and what we can accept and release from our control.
“In our research, it was amazing to see how basically the higher you got in an organization, the higher the level of the executives, they all took time to exercise, they slept well, even despite ridiculous travel schedules and ridiculous scopes of jobs,” says Carter. “It was really clear that if you don’t start taking good care of yourself and setting good boundaries and saying no at an earlier level of your leadership journey, you’re gonna burn out.”
“Presence Pays”
Research shows a direct correlation between a leaders’ mindfulness and the well-being and performance of their people.
“Human beings know when people aren’t present with us,” says Carter. It’s un-motivating, inefficient and costly.
“When you look at how distracted people are, at turnover rates, lack of engagement, you can make a pretty strong business case that being present with people, being kind to people, being about others not about ourselves, it’s not just nice to have,” said Carter. “It’s pretty critical to be successful in business today…we look at it as ‘presence pays’.”
“What we’ve found in our experience of training people to be more present is it actually saves time because if I know that I’m heard, I’ll stop talking. My message got across,” says Carter. When we don’t feel heard, we’ll keep trying to be – we’ll keep on talking.
Presence can be as simple as sticking around for a real answer to “how are you?”. On the contrary, “if you go to a meeting, and half the people are on their devices, you should just get up and leave. Seriously,” says Carter. “You’re wasting your time because of lack of presence.”
Presence, paired with compassion, creates a sense of meaningfulness and connection, and that matters when in inspiring others and earning their trust. Research has shown that a lack of trust ultimately erodes performance and the bottom line.
“We are wired to want to fit in and want to feel valued. And when feel heard, when we feel like we matter, and when we then are able to connect with other human beings, it enables collaboration, it enables the right conversations to happen, including tough conversations,” says Carter. “If I give you feedback and I’m distracted, that’s gonna be horrible for you. But if I give you feedback because I really care about you and I really want you to get this didn’t work out well, you can completely receive that. It’s the power of presence to be able to have both tough conversations as well as nice, engaging moments of meeting effectiveness.”
The Lone Leadership Ideal Is Dead
“What has been an iconic idea for a long time of a single, solitary leader – the great leader theory – is really dead.” says Carter. “The pace of change that all of us are experiencing regardless of what industry we’re in – the disruption, the distraction, the pressure – is just too complex and too much for any one individual to have all the answers.”
Nobody, and especially Millennials, want “some great person (often some ‘great man’) on a pedestal they don’t connect with,” said Carter.
Meaning, purpose and connection is what most of us want.
Why We Must Bring Mindfulness To Leadership
Career AdviceBy Aimee Hansen
Leadership today is not crying out for people who are destined to be great. It’s crying out for people who are dedicated to being present.
We don’t need bigger beacons to admire at the top, but human beings who can connect and be here now.
According to Gallup, 85% of employees are not engaged or actively disengaged at work. Forbes found that more employees (65%) would rather see their bosses fired than receive a raise. Research reveals a massive chasm between leaders’ self-perception and how their employees see them. One McKinsey study found that 86% of leaders rated themselves as inspiring, but a Gallup survey found 82% of employees see their leaders as uninspiring.
“Around three years ago, we started to see more and more leaders today being overwhelmed, being always on, not being able to keep up,” says Jacqueline Carter, partner and North American Director of Potential Project and co-author of “The Mind of the Leader – How to Lead Yourself, Your People and Your Organization for Extraordinary Results.
“This is equally evidenced by research that shows what we’re calling ‘a real crisis in leadership,” says Carter. In partnership with HBR press, her organization conducted interviews with 250 C-suite executive interviews, assessed 35,000 leaders and reviewed previous studies.
Leadership Begins in the Mind, and With You
“An unmindful leader is someone who is distracted all the time, who has a hard time getting things done, probably not very calm, maybe stressed,” says Carter. Mindfulness develops the ability to say: “Okay, no matter how chaotic it is out there in the external reality, I can maintain a sense of focus and of discipline and of calm in my internal reality.”
But most leaders don’t feel that way.
“The Mind of the Leader” research found that 73% of leaders feel unmindful most of the time and 67% of leaders feel their minds are simply cluttered. Attention itself has been touted as the world’s scarcest resource in the book, “The Attention Economy: Understanding the New Currency of Business.”
“If we don’t have the ability to understand and lead our own mind, we’re certainly not able to be effective for ourselves,” notes Carter, let alone able to understand our people or the “collective minds of the organization” so that we may lead effectively.
Three Steps to Start Your Own Mindfulness Practice
1) Start a 10 minute guided practice with this app: Research shows that after 14 days, 10 minutes a day, you can actually see the impact of feeling a little more focused, more calm, more clear-minded.
2) Take stock of distractions: Carter advises to take stock of what keeps you from being focused (eg phone on in meetings). Minimize the amount of habits that distract you and create scattered feelings, tension or stress to increase your focus.
3) Stop the multi-tasking: According to Carter, multi-tasking is a myth (the brain conclusively shows we can’t give real attention to two things at once, we just flit between). We can reduce our stress levels by not scattering our attention.
When it Comes to Effectiveness, Mindfulness is a No-Brainer
Mindfulness practice cultivates self-awareness, which is a foundation of good leadership. Mindfulness has been associated with benefits such as enhanced focus and better task performance, enhanced work-life balance, more creativity and innovation, better decision making and problem-solving, more ethical decision making, increased job satisfaction, fewer sick days and more retention.
On a personal level, mindfulness can bring better sleep, enhanced attention, decreased stress, reduced cellular aging, increased emotional intelligence, and also benefits for the immune system, brain, heart and blood pressure.
What is also required, according to Carter, “is not letting our egoistic tendencies drive our behaviors” while “bringing more compassion and kindness into our work places, for strategic reasons, not just because it sounds like a nice idea.”
Why Leaders Need to Watch Their Ego
The research found that when we rise in leadership, it’s incredibly difficult not to develop a big ego. Leaders are listened to, surrounding with people who praise them, paid more and maybe have the fancy corner office.
“There’s all these subtle things that tell the brain, basically, you’re important,” says Carter. “And ego naturally grows.” So, rising into leadership has a tendency towards corrupting our behavior to be ego-driven.
For example, Carter points out, “One of the things about having a big ego is that we’re more susceptible to confirmation bias. We want to see things through the lens of the way we want to see things.”
Mindfulness practice is a way of training your mind to break unconscious biases, to affect how you relate and respond – to stay open, fluid and and respond rather than react.
“We know that we are emotional beings as opposed to rational beings. Too many programs that focus on unconscious bias appeal to our rational approach: ‘Okay, I understand diversity is good’. But we also understand that doesn’t change our behaviors,” asserts Carter. “If we all knew the right thing to do and that enabled us to do it, we’d all be exercising, we’d all be eating well.”
“It’s the same thing with unconscious bias,” says Carter. “The motivation needs to be there, which is the awareness piece, but we also need to train ourselves to be able to overcome those biases that are so unconscious they’re much more difficult to tap into.”
Mindfulness Cultivates Presence and Self-Care
“When somebody is more centered and more grounded (not about being arrogant) but has a strong sense of themselves, you feel that, and you respect them more,” says Carter. “It’s easier for people to listen to those people, because they draw people in.”
The more we cultivate presence, according to Carter, the more we can overcome the cultural addiction to action. More presence means less hustle.
“Being more mindful enables you to set more boundaries, and that was true for all the leaders we spoke to, but certainly the female senior leaders…” says Carter. “It’s a combination of being able to be mindful about what you can do and what you can’t do, and be okay with the fact that you may let people down, but you need to be able to take care of yourself.”
Presence helps us discern what is necessary, what we can put our focus on effectively, and what we can accept and release from our control.
“In our research, it was amazing to see how basically the higher you got in an organization, the higher the level of the executives, they all took time to exercise, they slept well, even despite ridiculous travel schedules and ridiculous scopes of jobs,” says Carter. “It was really clear that if you don’t start taking good care of yourself and setting good boundaries and saying no at an earlier level of your leadership journey, you’re gonna burn out.”
“Presence Pays”
Research shows a direct correlation between a leaders’ mindfulness and the well-being and performance of their people.
“Human beings know when people aren’t present with us,” says Carter. It’s un-motivating, inefficient and costly.
“When you look at how distracted people are, at turnover rates, lack of engagement, you can make a pretty strong business case that being present with people, being kind to people, being about others not about ourselves, it’s not just nice to have,” said Carter. “It’s pretty critical to be successful in business today…we look at it as ‘presence pays’.”
“What we’ve found in our experience of training people to be more present is it actually saves time because if I know that I’m heard, I’ll stop talking. My message got across,” says Carter. When we don’t feel heard, we’ll keep trying to be – we’ll keep on talking.
Presence can be as simple as sticking around for a real answer to “how are you?”. On the contrary, “if you go to a meeting, and half the people are on their devices, you should just get up and leave. Seriously,” says Carter. “You’re wasting your time because of lack of presence.”
Presence, paired with compassion, creates a sense of meaningfulness and connection, and that matters when in inspiring others and earning their trust. Research has shown that a lack of trust ultimately erodes performance and the bottom line.
“We are wired to want to fit in and want to feel valued. And when feel heard, when we feel like we matter, and when we then are able to connect with other human beings, it enables collaboration, it enables the right conversations to happen, including tough conversations,” says Carter. “If I give you feedback and I’m distracted, that’s gonna be horrible for you. But if I give you feedback because I really care about you and I really want you to get this didn’t work out well, you can completely receive that. It’s the power of presence to be able to have both tough conversations as well as nice, engaging moments of meeting effectiveness.”
The Lone Leadership Ideal Is Dead
“What has been an iconic idea for a long time of a single, solitary leader – the great leader theory – is really dead.” says Carter. “The pace of change that all of us are experiencing regardless of what industry we’re in – the disruption, the distraction, the pressure – is just too complex and too much for any one individual to have all the answers.”
Nobody, and especially Millennials, want “some great person (often some ‘great man’) on a pedestal they don’t connect with,” said Carter.
Meaning, purpose and connection is what most of us want.
How to Optimize Your Retirement Savings When Changing Jobs
Career Advice, Guest ContributionGuest contributed by Sarah Landrum
You consider many factors when transitioning from one position to the next.
How quickly will you adjust and pick up new duties? Do you fully understand your benefits? How do you take your old accounts with you?
Reconciling new benefit offerings with old accounts from previous employment, such as an existing retirement, gets confusing when you’re taking in too much information all at once.
The good news: That money you worked so hard to save for retirement belongs to you, wherever you go. Here’s what to do with it.
Look at Your Retirement Goal Status First
Before you consider what to do with your money, now is the time to look at where you are with your retirement goals. Are you working toward a secure retirement? Look at your total retirement goal and potential withdrawals every year and play with projections for your current contributions and new employer matching contributions while weighing your circumstances.
For example, say your current retirement savings is $100,000, and you expect an income increase of 2 percent. You can factor this into your retirement plan along with Social Security benefits and other income to stay on track with your goal. Don’t forget to factor in if you’re married, since adding a spouse affects your Social Security benefits.
Options for Your Existing 401(k)
Here’s where it gets tricky. Your old 401(k) account belongs to the prior employer, but the money belongs to you. Here are the four options you have for what to do with your existing 401(k), as well as the advantages and disadvantages of each avenue.
1. Keep Your Old 401(k)
Look at your existing balance and reread the terms. You may have to move your money since the account belongs to the employer. Otherwise, the old 401(k) usually sits there without contributions from you or the employer. Different rules exist for different employers regarding what’s done with the money, with some automatically cashing out your funds to you or transferring the amount to a new IRA for you. If a check is made out to you, the company automatically cuts out a 20 percent portion to cover taxes. Check with your prior employer and reread the terms.
2. Transfer the Money to the New 401(k)
When your new company offers a 401(k) or other retirement option, consider transferring the money from your old account to the new one. Ask: does the new plan terms accept transfers from prior 401(k) accounts? What fees apply?
Sticking with a 401(k) option over an IRA has its advantages. Money must come out as of age 70.5, but if you’re still working, you can delay distributions with your current employer 401(k) plan until your actual retirement date and maximize your earnings. In the case of bankruptcy, your 401(k) remains protected, but IRA exemption stops after $1,283,025. At age 55, you can also take cash penalty-free from your 401(k) if you leave your position.
3. Move It to an IRA or Roth IRA
Skip thoughts of 401(k) confusion and transfer your balance to an existing IRA if you have one — or open a new IRA. A perk of a traditional IRA is the avoidance of taxes by transferring the money to this type of retirement account, but a Roth 401(k) must be transferred to a Roth IRA. You must look carefully at terms and fees when rolling over to an IRA. Otherwise, you may pay more than transferring to the new employer 401(k). Companies are required to provide reviews of annual investment costs and disclose administrative fees.
Younger baby boomers change jobs about 12 times over the course of their careers, and leaving 401(k) plans behind overlaps multiple funds that may exceed your risk tolerance and age. If you’ve left more than one plan behind, consider rolling retirement accounts into an IRA. Many IRA plans contain lower investment costs and options to invest in exchange-trade funds (ETFs) to reduce costs and risk.
However, mutual funds and ETFs come with expense ratios, which vary whether that’s an IRA or 401(k) — look closely at costs, talk with your broker or ask for the disclosure of fees and ratios yourself. Slowly decreasing your stock investment amounts in your portfolio reduces your risk as you and your portfolio age.
4. Withdraw the Balance
It’s best to wait until you reach age 59.5 to withdrawal your retirement balance, or you face paying on the withdrawal as taxable income. Plus, you experience the joy of the 10 percent penalty due to the withdrawal of your balance and your funds won’t grow.
Most advise against withdrawing retirement balances unless you’re facing an emergency you need to pay a significant amount of money toward quickly. What you consider an emergency may not be worth it in the end, such as buying a house, paying credit card debt or helping your kids offset unplanned college costs. For example, it’s better to take an approved IRA distribution for college costs than to face the 10 percent tax penalty for withdrawal. You can slowly replace the distribution over the years but paying thousands in a tax penalty hurts your take-home income and drastically reduces your retirement earning benefits.
In the end, you selected the retirement strategy that best-suited your long-term goals but changing jobs and emergency life situations arise that prompt you to take another look at your approach. Multiple accounts are difficult to manage and rolling over everything into a single account or Roth IRA outside of your 401k may reduce fees and boost your earnings in the long-term. You’ve come this far and likely know what you want to invest in. Go with the plan that best meets those needs, and if that means transferring funds to the new employer’s 401(k) — do it. If you have or are taking on significant debt, go with a plan that protects your assets and reconsider any emergency needs. Then, update your retirement plan with a strategy that optimizes your savings.
Disclaimer: The views and opinions of guest contributors are not necessarily those of theglasshammer
High Stakes: Changing Careers at the End of Your Long Career in Financial Services
Career Tip of the Week!What do you do if you really feel that you need a change?
First of all, talk to a coach to make sure that you don’t just need a vacation.
Coaching to stay in the game is often a lifesaver as it can give you some strategies to delegate work or navigate the inevitable politics in a way that doesn’t drain you. But, at face value let’s say you are ready or at least ready to think about making a change.
The first thing to do is look at where you are at in your life? Here are things to consider if you are in the “last 2-5 years” of your current fast pace, Fortune 500/financial firms work stage and now want to do something more meaningful with your time and energy for the next chapter. It is not retirement we are talking about here, it is about transition. This column is about the very specific transition of high flyers who have slogged under the boomer and generation X structures of facetime and fitting in, into their next chapter of purposeful, less rigid work.
What do you want to do with your time and energy for the next five to fifteen years?
If you are like many of the senior level, talented, smart and well-paid women who work in financial services and who hire me to work on how to do something other than the massive role they are currently doing, then think about these factors:
1. Is it really about the money?
The money is keeping you in to a degree and creating some inertia around change. It’s hard to take a pay cut and it’s hard to think about walking away from a pile of vested equity (and there are ways to not do the latter) but nobody is saying leave tomorrow and getting a plan is key. If mortgages are nearly or already paid and the kids are in college or are set up for that experience financially, it is possibly not entirely about the money.
2. Is it about your identity?
When you have worked so hard and built an identity around the job, people are often worried about the loss of that identity in various ways (from actual self- concept change and the psychological effects of that, to status and to relating to others).
3. Is it about a fantasy?
So, you may have come to the conclusion, that you do not want to be CEO or on the Exec Committee. You might be C- level, SVP level, or Managing Director level and you might be ready to declare this the pinnacle of corporate life and guess what? Giving yourself permission to do what you actually want to do is actually pretty important. The trick is to explore what you really want to do next (and that could be making it to CEO also). Look beyond the fantasy and allure of running away and opening a Bed and Breakfast, north, south, east or west of where you live now! If it’s a business, great then let’s see how serious you are about doing the business plan and figuring out that landscape for real. Really testing your assumptions about what you want to do next, whether be your own business or a non-profit gig or even running for office, it is good to consider in detail (viability check) what that will look like with a coach while safely cashing in on the (big) day job from a comfortable office with a view.
Work with Nicki Gilmour as your Executive Coach- book a complementary exploratory call here or email her on nicki@evolvedpeople.com – the sister coaching business to theglasshammer.com
Voice of Experience: Shveta Verma, Senior Director, Diversity and Inclusion, PwC India
Voices of ExperienceOver the years PwC’s Shveta Verma has found that that the local culture can make it more challenging for women to develop the confidence to speak up and ask for what they want and need and trust their own voice.
“Women here are brought up being told that they are embodiment of love, care and sacrifice; with all this conditioning, everything else around them supersedes their own interests and what they want,” she says. With that in mind she urges younger women to take charge of their careers and make decisions that matter to them.
“Never give the reins to anyone else to steer the direction or acceleration of your career,” she says. “There will be times where family and children take priority and work takes a back seat or vice versa, and this is natural and shouldn’t cause guilt. Above all else, love yourself immensely and choose to be happy every day of your life.”
Finding her Niche by Helping Advance Others
Over two decades in the human capital function, Verma has spent time in a variety of roles from a beginner to a leader. Her longest stint has been at PwC where she has spent almost 15 years, currently overseeing the diversity and inclusion function for both India and PwC Global.
In fact joining PwC is the professional achievement she is most proud of, a journey that began when she was working in the human capital function of Jaypee Hotels at Agra, a hotel that was a regular offsite destination for PwC. “I still remember that afternoon in 2002 very vividly… I was admiring the quality of people and at that moment I silently prayed to be a part of PwC someday,” she says, adding that she hails from a small town in India where no female from her immediate or extended family had ever gone out to work. “I consider myself extremely fortunate to be able to step out and be able to attain professional fulfillment. I believe that my joining PwC was the biggest turning point of my life.”
While there she has seen multiple highs and lows, mergers and demergers, but her biggest moment was in April 2012 when she took on a new role as India human capital transformation leader. With no existing role model in place, she carved out the function herself, aligning with the global network which enabled her to focus on developing and implementing a variety of initiatives for the diversity office, including focuses on generational differences, flexibility and social responsibility.
In her current role, she finds that being part of the global team offers the ability to influence change through the length and breadth of the organization and across territories; at the same time being exposed to the multifold nuances that come to play when implementing policies, such as local legislations, cultural dynamics, workforce profile, leadership commitment, organization maturity and many more. One of her most exciting projects this year has been helping create pay equity and inclusive recruitment policies.
Overseeing a Sea Change in D&I
Her role is an exciting one because she sees a huge shift in the mindset towards D&I in India. While a lot of Indian organizations are still struggling to really understand what it means and where to start from, she finds there is an increased realization and energy to focus on creating policies and nurturing an environment that creates inclusion. This focus may lead to a variety of changes concerning D& I, including organizations defining what it means for them and then aligning their diversity strategy with how it impacts the business performance by bridging talent and skill. She also sees an increase in the use of technology and AI at every stage of talent decision-making to remove bias and then deploying analytics to create a diversity strategy and plan, assess key diversity metrics and create accountability.
While there have been many advances for women in India, she finds that there are still few powerful examples of women role models in workplaces. She urges her peers to focus on creating an enabling environment within their teams for younger women to progress and then mentor and guide them. “Let them know that someone is watching over them; there is sufficient space for all of us to move forward.”
PwC India is spearheading a number of initiatives designed to counteract this low representation of women in leadership positions. Special programs designed to prepare them for leadership roles include Reach Out, a networking and mentoring program created in partnership with four other organizations. They also connect newer professionals with high-performing senior women employees to provide them the right enablers to promote growth to leadership positions. “Towards Leadership Program”, which prepares the participants (including men and women) by providing them with key skills, to take on leadership roles.
“As the workforce of the future becomes increasingly diverse, it is imperative that we tap into the potential of our women employees, especially at the mid-management level,” she notes. This can happen by creating an environment for women to achieve their full potential, in both their business and personal lives, and thus reduce attrition.
That was the impetus behind the “WoMentoring program,” introduced for women managers to be mentored by senior leaders of the organization at this critical level where talent is experiencing personal life cycle changes and professional aspirations which impact their career decisions to stay or leave the organization. “We believe that our ability to support and mentor our managers in these stages will go a long way in retaining them and providing a nurturing and developing environment,” Verma says.
Throughout her busy career, Verma finds that her fitness regime keeps her going. A marathoner, she is also training to be a triathlete. In addition she loves theatre — although she finds it more challenging now to find the opportunities to indulge, she won various awards for her acting skills during her college days. “My best way to beat stress now is cooking with my 12-year-old son and going for my long runs,” she says.
Voice of Experience: Debra Stabile, Managing Director and the Chief Risk Officer for Citi Retail Services
Voices of ExperienceBy Cathie Ericson
Don’t be afraid to take risks, especially when you’re young, says Citibank’s Debra Stabile.
“The world is changing so fast that being willing to try new things, even those outside of your comfort zone, is the key to continuing to move forward,” she says, recommending that you stay curious and always open to challenging yourself.
“It is easy to access materials that can help you self-educate on any topics you want to explore, but people also love to talk about their own areas of passion so connect with others whenever you can,” she says.
That, along with being open to candid feedback, can help propel your career. “Asking for feedback is vital – ask at the right time, and seek input from your peers as well as your boss.” For example, she suggests inquiring if there was anything you could have done better in an important meeting. “If they really care about you, they are going to give you constructive feedback to help identify blind spots,” she says. And then, she adds, accept the comments without rationalization and learn from them to always be improving your career.
Building Teams and Solving Problems Keeps Her Engaged
A willingness to try new things underscores a career path that Stabile calls “interesting and fulfilling,” encompassing fields from consulting to government and finance. Each role presented new challenges and insights; she appreciated her experience in consulting firms for the birds-eye view it gave her into a wide variety of companies, and her early experience with the City of New York made her a better citizen as she realized that you really can make a difference even in a city as big as New York. For the past 20 years she has been in financial services, 13 of them at Citi.
Despite all her professional success, she says the achievement she’s most proud of so far is the teams she’s built and the people she’s worked with. “When you look back at what matters, it’s not only about making a difference in your job, but also about enjoying the people you work with every day. I’ve been very fortunate to build and nurture successful teams and launched many of them to bigger roles and seniority in their respective organizations,” she says. In certain fields, she notes, such as being a teacher or doctor, you know you’ve made a difference, but it might not be as obvious in a corporation until you realize the impact you have. “You don’t impact just your employee, but also their families, and if they can come to work and feel respected and successful, you can feel that you’re contributing in a larger role.”
With a background in math and economics, Stabile loves problem solving so she finds it an amazing time to be in the industry, where analytics and quantitative methods have become even more foundational to everything they do in risk management. She says the environment today is a quantum leap from where they’ve been before, with the access to a more granular and diverse set of data — a plethora of information about consumers that enable them to make better decisions in real-time.
Stabile and her team at Citi Retail Services leverage these data sources to develop advanced analytic models and other capabilities to more effectively identify, assess and manage risk for their retail partners and customers.
Women Supporting Women
As more women enter the industry, Stabile hopes that the focus on STEM fields will continue to help make women today more comfortable and eager to take advantage of this vibrant career path. “It’s critical at all levels for women to support each other and share opportunities when they see them – to be inclusive,” she says. “Women are becoming much more proactive in recognizing we need to pull each generation up.”
Stabile has benefited from the Citi Women’s Leadership Development program which is attended by middle and upper management and provides coaching by external career development experts as well as internal senior executives. She has also been fortunate to be part of a supportive women’s network outside of Citi — the MIT Sloan Women of New York. A board member since its inception, she has helped organize a number of women’s events, including the first MIT Sloan Global Women’s Conference which was held in New York last October.
With three daughters, two of whom are engineers and one an economist, there is no doubt Stabile is doing her part to help build the female pipeline. The family loves to travel, especially to areas that have a historical or cultural bent.
8 Tips to Get Success in Your First Interview
Career Advice, Guest ContributionGuest contributed by Susan Saurel
First round interviews help employers select a smaller pool of most qualified candidates for their open job positions.
For this reason, they’re typically less thorough than the second or third interview rounds. Still, your job of preparing for the first interview isn’t any easier. Your goal is always to make a terrific impression and to perfectly convey why you are the best fit for the job they’re trying to fill. Good, solid preparation is key to success, so here are our tips on how to make sure you always bring your A-game:
1. Do Your Homework. Know Who You Talk to
Not knowing enough about the company you’re interviewing for is one of the biggest mistakes you can make in a job interview. Company research is a critical part of the preparation process.
Start with the company’s website; study their About page, their mission and top executives; get to know their products and services; and read current press releases to stay up to date with what’s going on in the company now. You can also “google” the company, check their blogs, social media, and read reviews from clients, current and former employees to get a feel of “who” the company is and how you can embody a similar personality during the interview.
2. Identify Your Strengths and Weaknesses for this Particular Role
Take time to analyze the job posting, the in-depth position description, the required set of skills, knowledge, professional and personal qualities that the employer considers critical for success at the workplace. Then, do your best to answer the question “Why am I the perfect fit for this job?”. Identify the unique qualities about you, including your expertise, relevant certificates and professional qualifications, as well as specific examples for when you’ve gone above and beyond to solve a problem, or accomplish what no one else has managed to do.
3. Google Yourself
Great resumes and cover letters are at the tip of your fingers with the help of essay writing help. But that’s not enough these days. Employers are also interested in your online personal brand.
Find out ahead what Google says about you, and make sure to manage and optimize your appearance online so it won’t hold you back from that dream job you want. If there’s anything negative about you that you cannot fix, you’ll be able to have a ready response that clarifies employers’ concerns. Try not to get too defensive though, but simply respond and move on to the next question.
4. Prepare Answers to The Most Common Interview Questions
Industry giants like Google, Bain & Co., and Amazon, are known for surprising their applicants with unusual and confusing interview questions. However, most of the other companies will generally stick to their lists of common questions, like the dreading “Can you tell me a little about yourself?”, “What do you consider to be your greatest strength, and weakness?”, and “Why do you think you will be a good fit for this position?”.
Prepare good answers to a list of most likely questions. The “tell me about yourself” part is just a warm-up, so don’t waste your best points on it; just briefly cover your early years, education, work history, and most recent career experience. When you talk about your weaknesses you want to have a positive twist to it. Mention something you struggle with but work on improving, like taking on leadership roles to tackle the fear of public speaking.
5. Write Down a Few Smart Questions to Ask at The End of the Interview
Interviews are two-way conversations. By the end of it you’ll get a chance to ask your own questions, and gain better understanding of the company you’re about to join and your particular role in it. This is a great opportunity to engage in a meaningful conversation and show your interviewer that you care about the position.
Write down two or three thoughtful, open-ended questions, to make sure you end the interview strong and differentiate yourself from the rest of the candidates. Some great examples include:
6. Practice Makes It Perfect!
Now that you have your questions and answers ready, it’s time to practice them to perfection. This doesn’t mean learning them by heart, but rather keeping in mind the important bullet points so you can stay calm and not scrambling for an answer while in the hot interview seat.
Do mock interviews with a friend, colleague, or a career coach, and practice speaking clearly and concisely, listing your most relevant skills, experiences and achievements. Answering the question “What can you bring to this position?” will be a lot easier if practiced then when doing it the first time.
7. Dress for Success!
First impression can make or break a business, and your outside appearance is a large portion of it. Prepare a professional looking wardrobe that fits the culture of the organization. For men the dress code is usually pretty straightforward; a suit and a tie is always a sure thing. Women can wear a dress, a skirt and a blouse, or some elegant pants with a shirt. Keep accessories, jewelry and make-up to a minimum. Make sure your outfit is clean and ironed, your hair is tidy, and your shoes are shinning.
When you look your best you also feel your best, and feeling good about yourself helps boost your confidence, which is crucial for nailing an interview.
8. Arrive Ready and On Time, Get Comfortable, and Stay Positive
Prepare extra copies of your resume, samples of previous quality work, a reference list, and some paper and pens to jot down notes. Make sure to always arrive on time, or at least 15 minutes before the interview to allow yourself some time to settle, and possibly observe the dynamics of the workplace you’re about to join.
Practice calming your nerves and getting relaxed before the interview, as this will improve your confidence in the eyes of the hiring manager. Remind yourself that not getting the job is the worst thing that can happen.
Oftentimes the first interview will not be your last interview. After the first round companies will follow up with a second or even a third interview round to get to their best candidate. Stick to these basics, prepare well, and you can be sure that all your interviews are a success.
Disclaimer: The views and opinions of guest contributors are not necessarily those of theglasshammer.com
6 Important Things New Project Managers Need to Know
Career Advice, Career Tip of the Week!, Guest ContributionBy Andrej Kovacevik
Corporate demand for project managers is growing at a rapid rate of pace.
Talented people will be needed to fill the numerous project management positions that are becoming available; and industry insiders expect to see women stepping up to fill a significant percentage of these roles.
The Association for Project Management reports that female project managers tend to be younger and less experienced than their male counterparts. For the new female executives who are entering the field, we offer this list of 6 important things female project managers need to be aware of:
1. The Scope of Your Projects Might Change
Often, an executive or group of executives from your hiring organization will set parameters for the scope of the project you’ve been selected to manage. In a perfect world, you’d work within the scope of those parameters to complete your project. But according to Elizabeth Harrin at A Girl’s Guide to Project Management, you can’t always count on things to work out so neatly. She points out that most projects evolve through 4 formal versions of scope before their conclusion. Be flexible in your anticipation of this reality.
2. Managing Expectations Is an Essential Part of the Job
Whatever project you’re managing could potentially bring huge changes for a whole bunch of stakeholders in your hiring organization. Does everyone fully understand the implications of what’s coming? Probably not. As the project unfolds, do your best to help your colleagues get a handle on what the new normal is going to look like going forward. Be proactive about making any dramatic transitions as painless as possible for all stakeholders involved. How you handle this can make a massive difference in whether your leadership is perceived as a success or a failure by the end of the project.
3. It’s Crucial to Share Big-Picture Goals With Other Stakeholders
It’s easy for colleagues to succumb to tunnel vision and entirely miss what the main objectives for a project might be. Creating a mindmap can help to explain what’s going on and to get everyone else on board. It’s a big win if you can get all the relevant stakeholders involved in your project to understand the big-picture goals and buy in from the beginning.
If there are people who aren’t buying in, it is helpful to identify them early on and figure out the reasons for their opposition. Perhaps they even have valid reasons that should be addressed. Don’t ignore the naysayers. It’s better to work with them towards a resolution.
Obviously, you’ll first have to understand your project’s big-picture goals in order to communicate them effectively to your team. This shouldn’t be a problem — but for many project managers, it is. You might be surprised to learn that 80 percent of all project managers don’t fully understand the subtleties of how their projects support their hiring organizations’ business strategies, according to capterra.com. So if you don’t have a clear understanding of the primary motivators, you’ll have to do your homework so you can effectively educate both yourself and your team.
4. There’s a Whole Bunch of Jargon You’ll Need to Decipher
If you haven’t already earned a Master of Project Management degree, you might not be thoroughly educated about all the PM terminology that you’ll encounter as you work your way through your projects. Smartsheet.com offers a helpful glossary of project management terms you’ll want to be sure to familiarize yourself with.
5. The Role of Project Manager Is Changing in Ways That Favor Women’s Skills
According to experts at the international association of project managers, the vocation has evolved significantly over the course of the last several decades. They explain that, 20 years ago, the job of project manager was perceived as macho. Currently, in contrast, emotional intelligence is one of the foremost qualifications that top executives seek in a project manager. Today’s project managers need to excel in diplomacy, resourcefulness and creativity — a skillset that comes as naturally to women as it does to men. The pressure to be macho is now out of the picture. And, accordingly, the numbers of female project managers has been growing and is expected to grow more in the future.
6. You’ll Need to Cultivate a Professional Network
Elise Stevens, writing on behalf of the Project Manager website, explains that women will find better opportunities in the long term if they establish and nurture their own professional networks. In her opinion, one main advantage of networking is having the opportunity to better understand what leaders desire in managers and project leaders. Her network has also opened up new opportunities that would not have become available to her otherwise.
As a management professional, you cannot expect to succeed if you’re isolated on your own island. You’ll constantly need to turn to others to solve problems, find needed resources, delegate tasks and seek input. When you’ve cultivated a network, it’s much easier to accomplish all these things.
Of course, these are not the only things female project managers urgently need to know; but these are some of top things that tend to take women by surprise when they are new to project management. The sooner you wrap your head around these 6 things, the better the outcome will be for the projects you’ll manage in the course of your career.
Disclaimer: The views and opinions of guest contributors are not necessarily those of theglasshammer.com
Voice of Experience: Susan Brown, Wells Fargo Advisors
Voices of ExperienceThose words, which have helped Brown grow her team and business at Wells Fargo Advisors (WFA), remind her that women must be bolder than they might have been conditioned and pass it on to others. “We need to learn our own value and expertise—and speak to ourselves just like our best friend would,” she advises.
Building Her Business, Helping Others Build Their Wealth
As Brown puts it, she “fell” into the career she loves 35 years ago, when she was working in Hilton Head, S.C., and married a manager at her current company, which meant she ultimately had to find another job. At her side gig teaching aerobics, a class member suggested she interview at Prudential Securities—where she was quickly hired.From there, Brown transferred to Charlotte, N.C., as a client associate for the firm. Her next move was to transition to a financial advisor role, where she spent eight years in a positive mentoring relationship with a senior financial advisor. Prudential Securities was acquired by Wachovia Securities and then Wells Fargo Advisors—where Brown is now a financial advisor, managing a $170 million-AUM practice. She’s proud to oversee an all-female, multi-generational team of four, which includes her partner, Karen Shane, once Brown’s client associate. Both participated in Wells Fargo Advisors’ DELTA Program, an intensive coaching and consulting process based on proven business development and practice management strategies—and realized how well they work together.
In addition to building and developing her team, Brown acknowledges her proudest professional achievement as being able to keep 100 percent of her clients in the market during the 2008 collapse. “There are only so many ways to tell people to hang in there, but they listened, and I’m pleased to say that they were all able to recover.”
Brown’s team remains focused on its mantra of “women helping women,” and is working to attract additional female corporate executives as clients. “This is what we’re passionate about, and we’ve had proven success in this space over the years,” she says.
A Program that Helps Women Grow
Brown advises women to be patient with themselves as they hone their skills, something that she feels is reinforced through Wells Fargo Advisors’ Next Generation Talent Program—of which she encouraged Shane to participate as she progressed from client associate to financial advisor.
The innovative program, which includes training and mentoring as well as a salary throughout the program before transitioning to base plus commission, has an 80 percent success rate. In contrast, Wall Street’s traditional sink-or-swim training programs garner only about a 20 percent success rate. “Being a client associate used to be a place where you got stuck,” Brown says. “However, WFA’s program provided Karen with the training, support and development to become a financial advisor—and I gained a partner and an eventual successor for my practice in the process.”
It’s also a win for the firm, as the program yields confident and educated advisors for the next generation, as well as clients who will be served by them. Brown hadn’t realized her clients were worried about her eventual retirement until she introduced her new, younger partner, and they expressed their relief in knowing there was a great succession plan in place.
“My clients’ concern about my succession plan is simply because the relationships we’ve built are so personal—some of them already stretching to a fourth generation,” she says. “We understand their challenges and family dynamics and these deep relationships are invaluable.” In fact, she finds that her work and social life are almost inextricable. “If you love what you do, it doesn’t feel like work,” she says, adding that most of her travel and exercise groups include many of her clients.
She is also imparting the importance of relationship-building to her 28-year-old daughter, Anna Berger, who joined her team four years ago. Anna graduated from the University of South Carolina with degrees in finance and marketing and had started her career in New York, when she told her mom she wanted to move back to Charlotte. Anna has her Chartered Retirement Planning Counselor designation and focuses on client review preparation, trading, social media and other duties but has plans to participate in WFA’s Next Generation Talent Program, as well. In 2017, Kelly Walker joined Brown’s team as a practice manager and handles scheduling appointments, managing the team calendar as well as coordinating client events. She is also working on obtaining her securities licenses. “Kelly is extraordinary at running the team and making sure everyone is executing on a daily basis. She’s a star,” adds Brown.
“I was taught that I’d be recognized for hard work and merit, yet I’m telling my daughter that while hard work is important—it’s not enough. I tell her that she has to be bold and go after what she wants because no one is going to just serve it to her,” says Brown. “However, I believe that if you’re passionate about your career, like I am, everything else will naturally fall into place.”
Voice of Experience: Sarah McLean, Partner, Shearman & Sterling
Voices of Experience“I wish I had known when I was first starting out that most people don’t mind when you ask them questions about their work or request feedback on your work — and the more direct the question, the better,” she notes. “Specific questions lead to better discussion and ultimately lead to better information for you.”
An Early Pivot Leads to a Rewarding Career
With an undergraduate degree in biochemistry and molecular biology, Sarah assumed she would become a research scientist or go to medical school. But in her last year of college she took a business law class that intrigued her with how problems and solutions are presented so differently than in science. That, coupled with the three years of research she had been doing on the pea aphid genome, led her to decide to pursue law school rather than research.
Her first job out of law school was with a Texas-based firm where she initially practiced health law — at the time still considering medical school—but ultimately didn’t find it challenging and switched to oil and gas private equity. She practiced with the same firm for almost 20 years, in both Houston and Austin, along the way closing more mergers and acquisitions deals than any other lawyer in Texas in 2017, according to the records of The Texas Lawbook. She then started thinking about making a change, to find a new challenge that would energize and excite her. She moved to Shearman & Sterling in April 2018, where she currently practices private equity and oil and gas upstream and midstream mergers and acquisitions.
Building the Business One Relationship at a Time
While Sarah is currently working on a number of complicated, interesting deals and transactions, what she’s most excited about is her role in business development—going out to see clients and contacts and introducing them to Shearman & Sterling. “We’ve put together an impressive team of oil and gas deal lawyers in Austin and Houston, and it has been great to get out of the office and talk to people,” she says.
She’s built an impressive array of contacts over the years, primarily because she figured out soon after starting her career that every person you meet is a potential future business contact. “I realized that reaching out to people you’ve met through business deals is a great way to grow your network of contacts, and the newer associates working on your early deals will be decision makers in 10 years,” Sarah says. “Developing long-standing relationships helps tremendously when you are asking for referrals and work.”
She often tells young women that an important trait to help build fulfilling relationships is getting over any shyness. “I was always hesitant to reach out to contacts for lunch or coffee because I thought they would be too busy or they wouldn’t really want to get together with me or a hundred other excuses. But ultimately I’ve learned that most people do want to form relationships and do have time for a quick check-in meeting,” she says. And, furthermore, even if they don’t have time or want to meet, they won’t be rude about it. “They just don’t respond, and someone not responding is not tragic or embarrassing at all,” she points out.
Taking Charge of Your Own Career
Sarah advises her peers of the value of sticking together and supporting one other, along with taking the time to nurture as many younger women as possible. She urges those in a position of authority or power in an organization to use it to dispel stereotypes and promote diversity.
While she recommends young women find good mentors and sponsors, she makes clear that often you have to make your own opportunities, rather than relying on them coming to you. “This means getting out of your office, meeting people and looking for ways to make yourself more valuable to your firm or company,” she says.
Women especially need to spearhead their own careers, because in her experience big law firms, along with the specialties of private equity and oil and gas, are male-dominated industries, which can offer some barriers.
One barrier in big law firms is what she terms “compassionate discrimination,” which manifests itself like, “I know Sarah is busy so I’m not going to include her on this pitch for new work because she has kids, and I don’t want her to have too much on her plate.” She found that this happened on a number of occasions, including client pitches where the client specifically asked for her. “I felt that men were making decisions about my career, my availability and my workload without even asking me, and this would not have been the case if I were a man.”
Despite this devotion to her career, Sarah seeks a balance with her personal life. As a mother of four children, ages 5 to 15, she spends much of her time participating in their activities or just hanging out with them. One thing she is especially proud of is all the volunteer work they do together. Sarah and her family are active with Generation Serve, an Austin-based family volunteering organization whose goal is to develop kids into community-minded leaders. This past April, they received the Wally Pilcher Family Volunteering Award for their work with the organization. She and her daughters are part of the National Charity League, and they also work directly with Austin Pets Alive.
Important Conversations at Work: Improving Communication Across Differences
Career Advice, Guest ContributionGuest contributed by Katherine Giscombe
At this contentious time in the United States, the rights of all women are under fire.
In spite of movements against sexual harassment that are gaining in popularity and support, such as #MeToo and TimesUp, there are factions within the country including lawmakers who actively oppose equal, fair and just treatment for women. And there has been an uptick in violence and harassment directed against racial minority groups, which have been condoned, and even spurred, by those in high political offices.
Boundaries between our work and personal lives continue to blur given the increasingly 24-hour a day expectations of employers, greater levels of virtual work, and increased workloads across industries. It becomes more difficult, over time, to not bring concerns about our lives outside of work into the workplace. The context of our lives affects our well-being and experiences at work, as shown in Catalyst’s research on the Emotional Tax, which demonstrates that a majority of women and men across racial/ethnic minority groups report feeling vigilant or on guard in the workplace, constantly preparing for the potential to deal with bias, discrimination, or exclusion.
It is vital for employees and associates to be able to engage with each other in a healthy manner, and develop mutual understanding even when they do not share similar backgrounds or experiences. Further, in the workplace, as research on career progression has shown, it is essential to develop relationships with allies and potential sponsors who can help progress one’s career. But doing so can be difficult among those from different backgrounds.
Catalyst has developed methods for reaching across differences to form meaningful connections at a personal level. It starts with understanding how communication among employees and associates can improve, and providing tactics to do so. In summary, reluctance to engaging across differences can fall into three major themes:
Those who feel that there is not a problem may assume that race or gender differences don’t matter, because they believe they view women and men equally, and have no racial prejudice. A way to move beyond these beliefs is to ask one’s colleagues (of a diversity of genders and race/ethnicity groups) if they have ever experienced or witnessed biased behavior, and probe on what it looked like, what was verbally communicated. Further, they can ask whether colleagues of a different racial, ethnic, or cultural background feel that the workplace respects their identity and experiences.
Those who believe there is no benefit in talking may feel that race and ethnicity are not relevant in certain places, or that talking about our differences can only further divide us. Catalyst recommends asking colleagues a number of questions, including identifying times when discussing any type of difference has led to a positive outcome. Another suggestion is to identify “off-limits” issues— then discuss how not talking about these issues can derail inclusion.
Finally, the fear that there will be negative consequences to my actions is sometimes grounded in the fear of being labeled as overly sensitive, or the belief that it is not safe to speak up in the workplace. In these cases, Catalyst recommends that an employee ask a colleague for help in providing honest, constructive feedback, especially in cases where the employee uses words that are hurtful or offensive. Other advice includes asking a team member who has been silent during a meeting if he or she would like to contribute a different perspective.
In Catalyst’s workshops and consulting engagements, we sometimes use “ice breaker” exercises that build rapport across differences. One such example is a “pair share” in which each member of the pair names three identity groups he or she belongs to, including two visible elements of difference, and one invisible. Each person then takes turns sharing aspects of their identities. When sharing one’s identities, the speaker practices demonstrating vulnerability and self-disclosure. The listener, in turn, practices suspending judgment and inquiring across difference.
Going beyond building interpersonal connections at work, employees and associates can also co-create structures at work that encourage inclusion. This might entail forming an employee or associate resource group (ERG) for all women in the organization, that focuses on the many needs encompassed by women. In working with Catalyst’s supporter organizations, we sometimes see that women of color prefer to join an ERG that represents their racial/ethnic group, rather than the women’s groups. A good way to form alliances to get more done for all women would be for a women’s ERG to ensure that its officers represent a diversity of women within the company, and also represent the interests of a diversity of women.
Reaching across differences to form meaningful and robust working relationships can enhance our personal and professional lives, and provide a fortification of support during fraught times.