Everyone finds success in different ways, says WEX’s Heather Andrews, but in her case, it has come in part from the drive to learn, no matter what career path you are on.
That philosophy, along with her willingness to step through open doors – even the scary ones – has fueled her career trajectory.
Capitalizing on New Opportunities Brings Success
Although Andrews studied psychology, she didn’t see a clear path for a career without attending grad school, but was ready to enter the working world. She accepted an offer doing retirement plan education, which opened up an exciting world as she became increasingly interested in the role that employee communications play in benefits and helping employees engage in their future.
It was an especially pivotal time in the industry as 401(k)s were increasingly usurping defined benefit plans, creating new choices for employees and new roles for organizations to manage around this reality. She returned to school to earn her master’s degree in leadership and change management in organizations, which meshed well with her psychology background, and then branched off to do some independent consulting where she could assist organizations confronting major system changes.
Along the way she engaged with a startup tech firm that was building a new benefits platform to consult on their business and communications planning. It ended up being a major opportunity as the company grew rapidly as the first online benefits platform to hit the market. Andrews wore all the customer-facing hats and stayed with the company as it was acquired to become Evolution1and eventually WEX Health.
Helping grow that business from being the fifth person to its success today is the professional achievement she is most proud of so far. “Being part of that groundbreaking team as the business grew from something so small and new to influencing an entire industry and becoming something of such incredible value was so exciting,” she says.
Moving from healthcare to the corporate payments executive leadership team offers a new world for Andrews to explore. “It’s a huge change that really allows me to stretch my brain,” she says. “I realize that a lot of faith has been put into me in this role at a critical time of growth, change and risk, and that’s motivating. It inspires me to make a difference.”
Growing Along the Way Through Personal Lessons and Mentors
When she first entered the corporate world, Andrews held a common perception, that she wasn’t sure how much of an impact one individual can make. That was part of what she loved about consulting: Seeing that people can make a major impact from the start, particularly if they can confidently work with professionals at all levels, unafraid to let their opinions and ideas be heard even if they get shot down.
And she knows that much of her success has come from leveraging personal and professional relationships. “Ethics and hard work have been important factors in my career, but I know that doors were opened for me because people had faith in what I can do, and then I was not afraid to step through them,” she says, adding that success comes when you lean forward and take chances, especially when you’re part of an entrepreneurial organization.
One role model who stands out is a female attorney at WEX Health who shared insights on why female business leaders have to be true to themselves, never compromising what they believe in and exuding confidence that you can accomplish it.
In addition, she cites WEX’s Integrated Leadership Development Program as having been crucial to her success at WEX for the networking and coaching it provided. “I have this fantastic coach who is also a woman who has been through a diverse and rich career,” she says. “This perspective as a successful woman in business helps me navigate what I need to do next as I continue to grow my career.”
But you don’t need a formal program to grow: Andrews finds life lessons all around her, from leaders on any stage, whether professional or political, who are able to balance assertiveness with having the grace to hear and respect people around them. “They are able to use that professional fire to be successful but maintain high ethical standards that they aren’t afraid to share vocally. I admire people who are unafraid to step out and say ‘I don’t care what others think; this is what I believe is right.’”
And sometimes we experience a hard-earned lesson, says Andrews, as she recalls a time early in her career when she was still working on retirement plans. She made a bold promise about how easy a migration would be, without fully thinking through how a failure to deliver might affect her equally young client. When the project ended up being more complex than expected, this client was taking the heat internally. “I didn’t embrace her vulnerability, and I lost her trust. This incident has always stood out to me as a reminder that you have to understand your counterparts and the position you’re putting them in by what you’re promising.”
Of course, inspiration also comes from home, as Andrews finds through her husband and four boys, who range in age from 15 to five. “I see myself through their eyes and want to be an example because every single day will impact their lives.”
Treasured family time includes an annual summer trek to a new national park, and winters spent skiing and snowboarding. This activity has an ulterior motive, she laughs. “Hopefully if they have a winter sport they like, they will stay in Minnesota close to me.”
Day-to-day, whatever they do, they do it together, whether it’s sports, music or academics. “We also take the time to volunteer together, as a family, which I believe is important to provide a positive influence that will affect how they are as adults.”
Voice of Experience: Jennifer Hanes, Head of Investment Management and Operations, Buy Side Solutions at FIS Global
Voices of Experience“When you make a commitment to focus on developing an area of domain expertise and own it, you’ll earn the credibility you desire,” says FIS’ Jennifer Hanes, offering words of advice for career novices.
“Define success for yourself; no one can give you the road map, so decide the most important criteria for success as it pertains to you, and then focus there.”
Several Industries Contribute to Career Growth
Hanes herself knows the importance of carving out a path that’s unique but beneficial for each individual. She earned undergraduate degrees in journalism and French in hopes of pursuing a career in international advertising, but at the time she graduated there were no professional jobs readily available. Having spent summers in the financial services industry, she took a position in investment banking as a research analyst. She earned her Series 7 and other designations to come up to speed quickly.
While she gained valuable experience, she decided that wasn’t the career for her, so she moved to a small firm in the municipal bond industry as the fourth employee, learning on the job and completing a master’s in business administration at night. She worked there for several years until it was acquired by Thomson Financial, which offered her more opportunity in a wide variety of roles including product management, business operations and marketing, as well as more international experience.
In 1999 she got the “dot com” bug and was lured by the possibility of something entirely different to join a company that specialized in antiques. While it was short-lived, she acquired a helpful perspective on the internet industry, but decided to move back to a bigger firm in the financial services field where she could return to a more international role. She joined SunGard, which became FIS, and has steadily grown with the firm, occupying roles from marketing to business operations and strategy. Currently she runs FIS’ global software and services portfolio business of fund and investor accounting, transfer agency, risk management, reconciliation, pricing and financial reporting solutions.
While she is proud of her many business-related outcomes in delivering top and bottom-line results, she finds her most satisfying professional achievement to be the impact she has had on developing her team members over the years and helping them flourish in their careers.
Right now, Hanes says she is inspired by the chance to see the strategy that her team has developed come to fruition as they execute on a more holistic and integrated business model that clients have been looking for. “It’s exciting to see something all the way through from strategy to execution and the positive effect we are having on clients as we use innovative technology to help them drive better business performance.”
She also is excited to see how artificial intelligence and its predictive analysis capability is being used to create ever more clever ways to take huge volumes of data and crunch it down to find patterns to drive investment returns. And, while less buzzy, she says that another exciting development to watch is how firms can create efficiency by leveraging automation and robotics in back office procedures to drive bottom-line profitability, achieving better results while saving time and effort.
Career Advice To Reach The Top
Looking back over her career, Hanes suggests that those starting out consider the value of networking and how helpful it can be. “As I got older and more confident in my abilities networking became easier, but it’s wise to start early.” She has found value in seeking out diverse perspectives from a variety of industries to solve problems and explore areas like people and project management that are not industry-specific.
Hanes believes that professionals at all levels should make deliberate time for mindful reflection. “We live in an era when everything is instant, and tons of information is coming at you constantly, but you need time to think and process, particularly when it comes to complex issues.” She advises women to find time to efficiently digest and reflect – such as while you’re exercising or commuting – to arrive at better answers.
Cognizant of the need to devote time to balance her career with other pursuits, Hanes has helmed a book club for 22 years and enjoys spending time cooking. Married with two grown sons in their 20s, she has been fortunate to have been able to take them on many of her travels, which has contributed to their increased awareness of diversity in the world.
Hanes also takes time to give back, sitting on the board of her alma mater, the Commonwealth Honors College at the University of Massachusetts Amherst. She also is on the board of the industry association NICSA, whose member firms include major asset managers, servicers and large banking institutions. They are at the beginning stages of looking at partnerships for a diversity initiative, underscoring how a deliberate focus on diversity should ultimately drive better business outcomes.
Recovering from a Mistake at Work
Career Advice, Managing ChangeBy Cindy Krischer Goodman
Researchers at the University of Waterloo in Ontario, Canada studied gender differences in apology behavior of men and women ages 18 to 44 and found women apologized more and felt they had caused offense more.
To recover from a mistake, career experts advise walking the line between apologizing and expressing confidence you can handle tough situations going forward. Even if handled well, there could be lasting repercussions or lingering distrust. The more glaring and costly the mistake, the more it could affect your job security. It is important to acknowledge you recognize the mistake’s seriousness and are prepared to accept the punishment management doles out without complaining, including being taken off a client’s account or moved to another department. The next step is working hard to rebuild trust.
“It’s going to sting for a while,” said Leadership Coach Monique Catoggio. “But we have to be really aware of how we’re behaving and make sure others are seeing we understand the mistake, are making positive changes, and are dedicated to not making the same mistake again.”
Catoggio, founder of Illumined Life Leadership in Miami, said part of being a leader is role modeling for team members how to bounce back gracefully from a slip-up and learn from what went wrong.
In real life
A marketing director at a Miami accounting firm read a news article about her firm’s acquisition, she realized she had made a mistake. She had misspelled the name of the acquired firm in the press release that went out to hundreds of news outlets. She knew she quickly needed to fix the situation and prepared a new press release to distribute, labeling it “correct version.” Next, she went to her boss with an explanation, and the details of how she corrected her mistake.
At some point, everyone inevitably makes a mistake at work. Sometimes the slip up is small, such as sending an email out addressed to the wrong person. Sometimes it is big, with the potential to be costly for the organization.
Reacting timely and honestly to a costly error can make a difference. You don’t want your boss to learn about the mistake from a co-worker in another department, or worse, a customer. Admitting to a mistake, rather than allowing others to come to their own conclusions, helps assure your boss or client can trust you to be upfront and honest. Career experts advise against fessing up by email, insisting it’s better to have a verbal dialogue in which emotions can be conveyed. As a manager, you may need to take responsibility for an error someone below you made. In doing so, you will need to commit to finding out how the blunder happened, putting in new protocol, and monitoring your team closely so it doesn’t happen again.
In seeking out the root cause of the mistake, you will need to dig deep to understand if you need to be more patient, less distracted, ask more questions or double check facts. You want to discover any fundamental flaws in processes and uncover the actions over which you had control. Your goal should be to make sure you and your team learn from the mistake to ensure it never happens again. Most important, approach your boss or your customer with proposed solutions for how to make things right.
Learning from mistakes
As many people have discovered, mistakes that initially seem costly, have potential to be opportunities. Paul Schoemaker, entrepreneur, consultant and educator who has taught at the University of Pennsylvania’s Wharton School, believes success is the sum-total of many mistakes. As the author of “Brilliant Mistakes: Finding Success on the Far Side of Failure,” he has said, “If you want your team to get better, first, teach them to frame any mistake as a learning opportunity.”
Schoemaker believes sometimes making mistakes can be the quickest way to discover a problem’s solution. For example, a mistake that initially seems costly based on previous operation methods could end up saving a company money in a changing business environment. In developing a mechanism to prevent re-occurrences, you could discover a more efficient way of getting work done. And, by working hard to remedy the situation with the customer, you could build a stronger relationship.
Success in learning from a mistake may require involvement from another person, someone objective who can give advice, identify training or help with solutions. They may know of someone that has bounced back from a similar mistake and a way to deal with the situation that you don’t.
Going forward, you will need to re-prove yourself on each new assignment and possibly even in your daily activity. Meanwhile, expect to be treated as if on probation; you will need to get past self-doubts, take every measure to ensure the mistake isn’t repeated, and show you are doing your best work. It may take time, but the goal is to prove to management, your colleagues and yourself that you are still trustworthy in your role.
Changing Jobs: What Financial Benefits Do You Need to Think About Besides Your Salary?
Career Advice, Guest ContributionGuest contributed by Marisa Joseph
The excitement of a new career path, or even taking on a different role within your current company, can be accompanied by new (and sometimes overwhelming) personal and professional considerations.
And, for women who’ve spent more time establishing their careers, these considerations can vary significantly from those just starting out.
When approaching this transition, be sure to evaluate (and understand) the potential impact on your lifestyle that a new job might bring, along with how your short- and long-term financial goals could be impacted each step of the way. One in four Americans feel some level of financial anxiety, according to a 2017 Northwestern Mutual survey, making addressing these considerations – no matter the stage of your career – a key step to moving forward with confidence.
Before you accept the offer, ask yourself a few questions:
1. What’s going to happen to my non-cash bonuses? If you received stock options at the company you’ll be leaving, make sure you’re aware of the implications when switching jobs. Review your offer letter and/or employment agreements to ensure you’re cashing out your stock options within a stipulated time of departure, and checking on potential tax implications.
2. Is my tax bracket going to change? Depending on your new salary, you could be bumped into a different tax bracket. By meeting with an accountant, you can better prepare yourself for offsetting a potential tax increase.
3. Is your potential employer offering other benefits that are important to you? Maybe you’re looking for a more flexible schedule in your new job, or perhaps the opportunity to go back to school. Remember to highlight these possibilities in conversations with your potential employer. Ask also about a sign-on bonus or annual incentives, as well as termination provisions, to ensure you’re maximizing your financial options.
Once you’ve begun your new role, take the time to review your benefits package to update or supplement as necessary.
Below is a list of what you should review:
1. How am I handling my retirement plan? Your new job may provide you with the opportunity to contribute to a company-sponsored retirement plan, such as a 401(k) or Roth IRA. If this is something you took advantage of at your previous job, a financial planner can help determine if rolling over your old plan – or keeping your money where it is – is the best option for staying on track with your retirement goals. And, if this is a new opportunity for you, make sure you review what your employer is willing to match so you can maximize your contributions.
2. What are my insurance options? Your new employer may also offer insurance plans for employees, which could include health, dental, disability and life insurance. By thoroughly reviewing your benefits, you can identify any gaps in what your employer is willing to offer for baseline coverage, and where you may want to purchase additional protection. Ask yourself also; will I need to pay more in premiums, copayments or deductibles for my family? Consider again talking with your financial planner for help navigating your options and understanding any of those gaps in insurance.
3. Is there a waiting period before my disability (and/or life) insurance coverage begins? Sometimes, new employees are required to wait 90 days before they become eligible to receive coverage. Find out if you fall into this category, and from there, identify if supplementary insurance could be an option to protect you and your family during the gap.
Finally, once you’ve made it though the first several months at your new job, it’s time to evaluate one more crucial metric.
1. Am I happy? While your job may have come with perks like the ability to have more discretionary income or additional vacation days, these can sometimes seem less attractive when coupled with demanding hours or difficult relationships with coworkers. Does the new job fit with your lifestyle? Is it putting you closer to achieving your long-term financial and professional goals? Consider discussing your thoughts and options with a trusted friend, mentor or coach to map out the next steps of your plan.
By keeping in mind this checklist of questions, you’ll be on your way to embracing your new position feeling confident and prepared.
Guest contributed by Marisa Joseph http://marisajoseph.nm.com
Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com
Are you a sexist woman at work? Part One
Career Advice, Career Tip of the Week!Let’s assume good intentions for now and review the brain science behind managers and leaders’ decisions to promote and pay men more than women for the same job.
How is this still all happening in 2018? Simply put, it is our brains fault and how we give the benefit of the doubt to certain people based on their social identity (sex, race, nationality, class etc) and the associative brain process kicks in. Basically, what we have seen before generates positive and negative stereotyping that we silently attribute without knowing the individual (if we let that happen).
The brain and the way it processes information actually puts association to things in the ‘collection’ stage of data which was not previously believed to be the case. Literally if you see (or moreover don’t realize you have just seen) four red cars go past and then a blue one, your brain is busy assigning category and value to observed data without your conscious knowledge or permission. Likewise, pattern breaking is hard for the brain regarding that a leader/techie/mechanic/astronaut looks like based on images it has seen before.
Many social psychologists, naming two here; Chris Argyris (and his ladder of inference which can be used today by you in meetings for better bias breaking) and Virginia Schein have been telling us for years that we think our way into biased decisions unconsciously is based on our own beliefs. Now, neuroscience concurs that our brains trick us into thinking some people belong in a job because of their category type and the implicit value assigned to it. Notice use the of word “belong” because deserving on actual present moment merit has nothing to do with past patterns of other people’s performance. The average brain in its categorization of things and does not even attempt to predict future shapes and sizes of anything, hence it was Steve Jobs and not just anyone who could think up the iPod by looking at the walkman. It does however work pretty hard to tell you what is unfamiliar to you as Dr Banaji and colleagues’ impressive body of work on cognition and unconscious bias work has shown around ethnicity and gender.
So, here is the bad news, even as a woman your brain exercises bias against other women. Your whole life you have lived in the operating system of the patriarchy with more boys and men in leading roles from the first book you read, first job worked at, to the movies you watch. Then there is the messaging you heard from your grandparents and everyone else around you and how you were supposed to be as a girl and then a “young lady” then a nice woman. If you broke from heteronormative cisgender or even ethnicity molds, you got to have a pejorative label. Sound familiar? You can be a nice or nasty women and that doesn’t even begin to address the intersectionality issues that create much worse dichotomies or lose-lose stereotypes for non majority grouped people.
There is good news and that is you can override your cognitive processes. Recently, 3 out of 10 school children when asked to draw a scientist drew a woman. That is the best ratio we have ever seen, but we have ways to go.
You can start to be conscious of your thoughts and feelings in crucial moments like hiring and challenge your own assumptions around the constructs and paradigms you are holding. Put them on the table, shed light on them and see if they serve you and your mission? If you espouse a goal or a way of being, what are you actually doing behaviorally and not doing to achieve that goal?
How do your thought patterns match up to the person who you say you are? How do your unconscious beliefs help or hinder you at work?
Book an exploratory session with Executive Coach and theglasshammer.com‘s founder Nicki Gilmour (nicki@theglasshammer.com) to figure out how to get what you want today!
Voice of Experience: Paula Moreira, Managing Director, Goldman Sachs
Voices of ExperienceThe body and top of the pyramid are driven by effort and personal mission, respectively. Those traits, combined with her drive, have fueled Moreira’s career.
A Career Spanning Regions
Moreira’s interest in finance is rooted in lessons her parents ingrained in her early on. “They taught me how important it is to work hard and dream big to attain financial independence,” Moreira says.
That’s one reason a career in finance had always appealed to her, as she knew that industry would give her ample opportunity to achieve those goals. She studied industrial engineering to develop her technical expertise, and then began her finance career at a French bank. She soon moved to Credit Suisse, which gave her the opportunity to work in New York. “I had always dreamed about working in that important financial center,” she says of her initial move from Brazil to New York.
While in the US, she pursued an MBA at Harvard Business School to complement her technical background with stronger management and leadership abilities. After completing her MBA in 2002, she began working on Goldman Sachs’ Latin American sales desk. Moreira was so excited to get to work that she cut short a vacation and began taking Spanish classes to sharpen her language skills.
She moved back to Sao Paulo in 2010 and has been there since, leading a team focused on serving Brazilian banks, asset managers, hedge funds, pension funds and insurance companies. Moreira has found the most rewarding aspect of her career to be building a successful team who is connected, committed to helping one another and working toward the same objective. Moreira is also fulfilled by providing her clients with superior support and ensuring they achieve their goals.
Identifying Transformative Trends
Currently, Moreira is particularly excited about growth dynamics in Brazil, as the country emerges from a difficult recession. She notes that as part of the cyclical rebound in the country, rates have been cut by more than a half, causing dynamic changes in the market. Moreira explains that significant investments previously allocated to money market funds are now being funneled to alternative asset classes like hedge funds – one of her biggest client bases – as well as investments in structured products and equity. “There is a significant opportunity to capture these trends in a country that is experiencing a big cyclical rebound,” she notes.
Moreira has also been interested in the impact of technology on the trading business, particularly the rise in electronic execution among credit, rates and commodities clients, a trend that has already been incorporated into foreign exchange trading. “It’s important that I connect my clients to our global platforms,” and notes, “I love my job because I’m constantly learning from my clients as well as other GS colleagues.”
Helping Advance Diversity
Last year, Moreira joined the Brazil Management Committee. This is in addition to her responsibilities as co-chair of the Brazil Diversity Committee, and she also previously served as co-head of the Brazil Women’s Network. During her tenure as co-chair of the Women’s Network, she learned firsthand how the network connects individuals and helps attract, develop and retain women. She also greatly enjoyed her role organizing content-rich events for members that were focused on topical issues in the workplace, such as the “confidence gap” many women face.
She has particularly enjoyed recruiting others to pursue careers in financial services by dispelling the perception that it’s hard to be a woman in finance. “It’s important to be present at schools and show people that they can reconcile work with personal lives and having a family,” she says. She hopes that her efforts will help plant the seeds for a more diverse workforce down the road.
“Because of cultural bias, many women lack confidence, and it’s vital to break these barriers and make sure women realize there are no obstacles in what they can achieve,” Moreira says. “I really hope that parents would ask their daughters to complete the same tasks that they ask of their sons in order to instill confidence and ambition in their daughters.”
Asking for Help – and Helping Others
Moreira knows that no one can do it alone, and she has learned to recognize the importance of asking for help and, in turn, helping others. “We often don’t ask for help, even though people feel rewarded when they have the chance to be the helper.” This realization has helped her to be more upfront about asking for support in both her personal and professional life.
She tries to make room in her personal framework for equal focus on family, work, and health, and often tries to organize weekend activities that bring family, friends and exercise together. She is proud of the wonderful family she has built with her husband, three daughters and two stepsons, and hopes she can inspire others.
The Growth Mindset as a Career Strategy
Career Advice, Next LevelImage via Shutterstock
By Lisa Larkowski
Life-long learning is more than a slogan.
Apparently even the brightest amongst us are limited if we do not continue to grow and evolve. This is commonly talked about as mindsets. A fixed mindset is a belief that intelligence and ability are set and unchangeable, while a growth mindset believes that intelligence and ability can be improved through your efforts, strategies, and help from others. Mindset researcher and expert Carol Dweck herself has tried to set the record straight and debunk the popular misconception that there are “pure” mindsets. Dweck in a 2016 Harvard Business Review article states “Everyone is actually a mixture of fixed and growth mindsets, and that mixture continually evolves with experience.”
What is the “Bright Woman effect”
The “Bright woman effect” sprang out of a phenomenon called “bright girl effect” in research which showed that girls had more fixed mindsets than boys, and in particular, the more intelligent the girl, the more likely she was to have a fixed mindset as opposed to a growth mindset. This helped explain why highly intelligent girls tended to give up faster than others when faced with new or difficult challenges. The line of reasoning followed, then, that if you were a bright girl with a fixed mindset, then your fixed mindset would follow you throughout your life. tle :
New research from Case Western Reserve University shows that the so-called “bright girl effect” does not persist into a “bright woman effect.” The research smashes two misconceptions, the first being that highly intelligent women have fixed mindsets. And secondly, that each of us has either a fixed or growth mindset that endures through our lives. It turns out that we have both fixed and growth mindsets. That they are changeable. And as Carol Dweck has indicated, that with effort, we can tip the scales in favor of growth mindset. The “bright woman effect” is a long-held assumption that the more intelligent a woman is, the more likely she is to have a fixed mindset as opposed to a growth mindset. But until now, no studies focused on the connection between intelligence and mindsets in adults.
Case Western’s examination of three separate studies shows that the “bright girl effect” does not endure into adulthood. The studies revealed fixed and growth mindsets in both men and women, but they were not consistent with gender or intelligence. As the researchers concluded, “There is limited evidence for a “bright woman effect” which is good news contrary to what it sounds like because the study’s results suggest that fixed and growth mindsets can shift over time and with circumstances.
Gimme Growth
It goes without saying that growth mindsets are more productive than fixed mindsets.
Growth mindsets are associated with greater success confronting challenges, taking risks, persisting in the face of adversity, and succeeding by learning from mistakes and setbacks. Fixed mindsets lead to lack of persistence, inaction, and harsh self-judging and “create an urgency to prove yourself over and over again.” Who wouldn’t want to get rid of fixed mindsets and bring more growth mindsets into their lives? Ironically, the key to getting more growth mindset lies with our fixed mindsets.
In her book Mindset: The New Psychology of Success, Carol Dweck suggests practices for working with fixed mindset triggers as the first step in journey towards what she calls a “true growth mindset.” Here are two things to consider.
Embrace your fixed mindsets. Notice when they are present, observe them, and most important, try not to judge them. Fixed mindsets can show up in situations where we feel challenged, stressed, overwhelmed, criticized, when setbacks occur, or when we see colleagues succeed. Become curious about your reactions. Ask yourself: How do I feel and react in challenging situations? Am I reacting with anxiety, anger, incompetence, or defeat, or instead with curiosity to learn more? Accept your thoughts and feelings and work with and through them, as much as you need to. You can even give your fixed mindset a name or a persona to help you call them out when you notice them.
Intentionally shift to growth mindset. When you notice your fixed mindsets showing up, actively shift yourself into growth mindset by asking yourself questions like: What can I learn from this? How can I improve? What steps can I take to help myself? This begins to loosen the grip of your fixed mindset and open you up to learning, possibility, and forward movement.
Make Friends with Your Fixed Mindsets
Shifting from a fixed to growth mindset is possible, but it takes work. It requires recognizing the situations or events that trigger us into a fixed mindset in the first place. It means looking at our feelings and reactions and then working with those with self-kindness and non-judgment.
Our mindsets are not written in stone. The more we can recognize and work with our fixed mindset triggers in the areas that challenge us, the more we can take charge of our reactions and bring more growth mindset and its benefits into our lives.
The Business Case for Gender Diversity: Necessary But Not Sufficient
Career Advice, Guest ContributionImage via Shutterstock
Guest contributed by Lisa Levey
The business case or economic justification for gender diversity is front and center in any discussion of the subject.
Yet as a veteran diversity consultant, I don’t see the business case is getting the job done. It’s not that the business case is unimportant. Clearly, it’s critical but while the business case is necessary, it’s not sufficient.
There has long been evidence of the links between gender diversity and positive business outcomes – enhanced financial performance, greater creativity and innovation, and less risk among others. In 2008 the U.S. and the world fell into an economic downturn of epic proportions. Yet as late as the spring of 2007, the International Monetary Fund or IMF was messaging continued optimism for the global financial markets.
How could the IMF – explicitly tasked with monitoring the health of global financial markets – have missed the signs? An independent study found that ‘groupthink’ fueled by lack of diversity in perspective was to blame and gender diversity is a powerful means to bring that diversity of perspective to the table.
In June 2011 Christine LaGarde became the first female leader of the IMF replacing her predecessor Dominique Strauss-Kahn who was at the helm in the run-up to the global financial crisis. In 2016 LaGarde was unanimously voted for another 5 year term.
The IMF example powerfully illustrates the limitations of the business-case only bias characterizing our current approach to justifying a focus on gender diversity. If bringing the world’s economies to their knees does not provide sufficient evidence of the business case for diversity – and the economic hazards of homogeneity – it’s clear the business case must only be a piece of a bigger puzzle.
Most white men approach gender diversity, all diversity truth be told, with trepidation. They experience the topic as harmful, fraught with conflict and risky. For some men, the very idea of enhanced gender diversity elicits anger. They perceive women’s initiatives as reverse discrimination and see support for greater gender diversity as undermining their professional security and status. Gender diversity makes many men feel awkward, confused and guilty; they keep their distance thinking, ‘I’m not one of those guys. I’m a good guy. I’m not doing anything wrong.’ But of all men’s problems with gender diversity, the biggest barrier to their involvement is indifference and apathy. In their mind’s, gender diversity is a women’s issue.
But that is where they would be completely mistaken!
Diversity is about evolving work cultures so that men can be the far more engaged fathers they long to be. Diversity is about men being able to take paternity leave – without career penalty – so they can experience the profound bonding with their child in his or her earliest days. Diversity is about men’s wives and partners being paid equitably, so she can contribute more financially, and he can feel less financial pressure. Diversity is about men’s mothers being able to reenter the workforce after divorce so that she can support herself and rebuild her self-esteem, in many cases. Diversity is about men’s sisters who want to leave unfaithful or violent husbands but don’t feel financially able to do so.
Diversity is about men’s daughters having the same professional opportunities as their sons and their sons having the same opportunities to be involved parents as their daughters. Diversity is about men’s daughters not having to deal with the sexually inappropriate norms that are pervasive in the workplace. Diversity is about men’s female bosses, many incredible mentors, not getting the opportunities they deserve because they’re deemed too nice – or not nice enough – to be a senior leader.
Diversity is about men recognizing that many of their seemingly harmless behaviors – assuming a new mother is not up for the challenge of a new job or stretch assignment without even asking her, making sexual jokes that demean, talking over women in meetings, paying the women you manage less than the men because you can – don’t just affect those other women. They affect his women [and girls] too by normalizing and perpetuating the status quo.
While gender diversity is the smart thing to do in a business sense, it is also the right thing to do in so many ways. We shouldn’t be so reluctant in the business world to say that aloud! Helping men realize the connections between gender diversity at work – and in their lives outside of work – has been an enormous missing link. Gender diversity is not just about men helping women to thrive at work. It is about men being full partners in driving change because they know just how much gender diversity at work is connected to so many parts of their lives and has repercussions far beyond their workplaces.
My vision is for white men to be an important voice at the diversity table, listening, sharing, and working to co-create new norms. Gender diversity is not a zero-sum game. It’s about evolving the work world for the 21st century in ways that improve the lives of women and men.
When we talk about gender diversity, in addition to articulating the economic case, let’s also talk about how it deeply affects men – the people they care about, the values they hold, the lives they want to lead, and the world they want to create for themselves and their children.
Contributor Bio
Lisa Levey is a veteran diversity consultant, having worked with leading organizations for more than two decades to assist them in realizing the underutilized leadership potential of women. Her current work focuses on engaging men as allies and partners. She led the design and development of the Forte Foundation’s Male Ally signature resource platform for engaging men in diversity work and architected a pilot program to launch corporate male ally groups. She blogs for the Huffington Post and the Good Men Project on gender norms at work and at home. In the spring of 2018 partnering with her husband Bryan, Lisa is launching Genderworks, a coaching practice for dual-career professional parents to support them in navigating the obstacles to gender equality at work and at home. Lisa earned an MBA with highest honors from the Simmons School of Management and a BS with distinction from Cornell University in applied economics.
Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com
Getting visibility for career advancement
Career Advice, Career Tip of the Week!It is important for bosses, sponsors and even peers to know what you are capable of and see what projects you are working on. Externally it is good to be seen by people in other firms too as although you might choose to be a “lifer” in one firm, you may also one day look for a change. Building a network is crucial to a career that is broad and long as people drive processes and innovate new products.
For eleven years here at theglasshammer.com we have profiled a senior woman on a Monday in our Voice of Experience column and on some Thursdays we profile Mover and Shakers and Rising Stars. We also have addressed intersectionality since the beginning, making sure in our profiles, interviews and panel events that all types of women are visible.
We have written over 800 profiles in total and we have not finished yet so as we look ahead for the rest of 2018, we are looking for great women to profile in financial and professional services and Fortune 1000 companies for the rest of the year. Thematically. we are looking for LGBTQIA Leaders for our June Pride series and then Men who Get it for July and then Latina leaders for September.
Please apply to louise@theglasshammer.com if you wish to be considered as a “profilee”.
We do not cover entrepreneurs for one reason that we have had in place from the beginning and that is because women are often encouraged to leave big business. Our site has always been about navigating your career inside industries (money, oil, big law) that have formal and also implicit male structures and hierarchies
Voice of Experience: Pamela M. Harper, Griesing Law, LLC
Voices of ExperienceDomain expertise is not sufficient for success, says Pamela Harper.
“Being able to navigate the political landscape is just as important as being technically competent.” And, she adds, it’s distinct from knowing the unwritten rules, but includes the ability to understand the subtle nuances that comes with time and expertise. “What is unsaid is often more important than what is said.”
Two Disciplines Create a High-Powered Career
After earning graduate degrees in both law and business, Harper worked at a law firm where her career took a turn to industries that she never would or could have anticipated, such as aviation, consulting and money management, with each position allowing her to use skills she had developed in grad school.
“People had questioned why I attended both business and law school, but both degrees have proven to be invaluable. I wanted to do whatever I could to gain a competitive edge, and this combination has supplied that for my entire career.”
One of the professional achievements she is most proud of so far was being part of a team that built a comprehensive compliance program for an institutional money management firm. To ensure they were as thorough as possible, they took the extra step of subjecting it to a voluntary third-party audit, a precaution that is rarely taken.
To this day, she says her former team still receives recognition for the robust compliance controls that were put in place. “Many small money management firms don’t realize that compliance can be a competitive differentiator,” she notes; instead they see it as a cost and therefore don’t allocate sufficient funds. “Forward-thinking companies consider it a form of revenue protection and therefore a risk management tool.”
As chair of her firm’s Corporate Transactions and Compliance practice group, Harper is intrigued by two current issues in corporate compliance: First, she notes that the level of misconduct that has been witnessed recently has been staggering, but she believes it will lead boards to pay an increased amount of attention to the impact of corporate culture on business strategy and reputation.
“Ignore it and the result will be decreased brand equity and diminished shareholder value. Boards will start taking these issues seriously and give them the attention they deserve,” she says, adding that while culture is often perceived as a HR issue in reality, it is a risk issue. “There will be a higher level of scrutiny and attention, and the complacency that has allowed boards to willfully ignore misconduct and aberrant behavior will no longer be acceptable.”
Second, she finds that very few boards have separate stand-alone compliance committees and even fewer have members who are knowledgeable about corporate compliance. The prevailing trend has been to draw potential board members from the ranks of current or former CEOs, but she noted that as board refreshment occurs, hopefully companies will begin to consider candidates with backgrounds in corporate compliance and risk management.
As part of her focus on compliance, Harper is undertaking the process of becoming a FINRA arbitrator. She says that given the repercussions of the Madoff affair, she has been surprised by the number of people who are neither savvy about their investments or their rights as investors. “Being part of a panel that can deliver recommendations on how to resolve those types of conflicts is very interesting to me.”
A Firm That Supports Women – Every Day
Currently Harper is thriving at a woman-owned law firm, which she says embodies the highest caliber of legal services, while creating an environment where women don’t have to make an artificial choice between succeeding in their careers and having a thriving personal life. “Those shouldn’t be mutually exclusive, and we have created a unique culture that doesn’t assign origination credit, which contributes to a collaborative team environment and deters intra-office competition.”
She has found over the years that women in the industry face one challenge that men don’t: “Regardless of your credentials and intellectual bandwidth, you still have to prove yourself every day. Period. Women do not have the luxury of mediocrity.”
One key way to bolster your career is to recognize the difference between what a mentor and a sponsor can do for you. “A mentor is nice to have and will give you general advice, but a sponsor — someone who typically occupies a positon of power and is invested in your success — is a must-have,” she says, adding that they don’t have to be mutually exclusive.
And she urges even women who have achieved a high level of success to remain intellectually curious. “It’s easy to become stale when you reach a certain point professionally and personally, but it’s vital to keep growing.” That’s always part of Harper’s plan; in addition to her work with FINRA, she is planning to earn a certificate in the business of art.
Further indulging her passion for art, Harper serves on the board for the Center for Emerging Visual Artists and also is an avid supporter of cancer research.
Mover and Shaker: Heather Andrews, Vice President of Strategic Accounts, WEX Corporate Payments
Movers and ShakersThat philosophy, along with her willingness to step through open doors – even the scary ones – has fueled her career trajectory.
Capitalizing on New Opportunities Brings Success
Although Andrews studied psychology, she didn’t see a clear path for a career without attending grad school, but was ready to enter the working world. She accepted an offer doing retirement plan education, which opened up an exciting world as she became increasingly interested in the role that employee communications play in benefits and helping employees engage in their future.
It was an especially pivotal time in the industry as 401(k)s were increasingly usurping defined benefit plans, creating new choices for employees and new roles for organizations to manage around this reality. She returned to school to earn her master’s degree in leadership and change management in organizations, which meshed well with her psychology background, and then branched off to do some independent consulting where she could assist organizations confronting major system changes.
Along the way she engaged with a startup tech firm that was building a new benefits platform to consult on their business and communications planning. It ended up being a major opportunity as the company grew rapidly as the first online benefits platform to hit the market. Andrews wore all the customer-facing hats and stayed with the company as it was acquired to become Evolution1and eventually WEX Health.
Helping grow that business from being the fifth person to its success today is the professional achievement she is most proud of so far. “Being part of that groundbreaking team as the business grew from something so small and new to influencing an entire industry and becoming something of such incredible value was so exciting,” she says.
Moving from healthcare to the corporate payments executive leadership team offers a new world for Andrews to explore. “It’s a huge change that really allows me to stretch my brain,” she says. “I realize that a lot of faith has been put into me in this role at a critical time of growth, change and risk, and that’s motivating. It inspires me to make a difference.”
Growing Along the Way Through Personal Lessons and Mentors
When she first entered the corporate world, Andrews held a common perception, that she wasn’t sure how much of an impact one individual can make. That was part of what she loved about consulting: Seeing that people can make a major impact from the start, particularly if they can confidently work with professionals at all levels, unafraid to let their opinions and ideas be heard even if they get shot down.
And she knows that much of her success has come from leveraging personal and professional relationships. “Ethics and hard work have been important factors in my career, but I know that doors were opened for me because people had faith in what I can do, and then I was not afraid to step through them,” she says, adding that success comes when you lean forward and take chances, especially when you’re part of an entrepreneurial organization.
One role model who stands out is a female attorney at WEX Health who shared insights on why female business leaders have to be true to themselves, never compromising what they believe in and exuding confidence that you can accomplish it.
In addition, she cites WEX’s Integrated Leadership Development Program as having been crucial to her success at WEX for the networking and coaching it provided. “I have this fantastic coach who is also a woman who has been through a diverse and rich career,” she says. “This perspective as a successful woman in business helps me navigate what I need to do next as I continue to grow my career.”
But you don’t need a formal program to grow: Andrews finds life lessons all around her, from leaders on any stage, whether professional or political, who are able to balance assertiveness with having the grace to hear and respect people around them. “They are able to use that professional fire to be successful but maintain high ethical standards that they aren’t afraid to share vocally. I admire people who are unafraid to step out and say ‘I don’t care what others think; this is what I believe is right.’”
And sometimes we experience a hard-earned lesson, says Andrews, as she recalls a time early in her career when she was still working on retirement plans. She made a bold promise about how easy a migration would be, without fully thinking through how a failure to deliver might affect her equally young client. When the project ended up being more complex than expected, this client was taking the heat internally. “I didn’t embrace her vulnerability, and I lost her trust. This incident has always stood out to me as a reminder that you have to understand your counterparts and the position you’re putting them in by what you’re promising.”
Of course, inspiration also comes from home, as Andrews finds through her husband and four boys, who range in age from 15 to five. “I see myself through their eyes and want to be an example because every single day will impact their lives.”
Treasured family time includes an annual summer trek to a new national park, and winters spent skiing and snowboarding. This activity has an ulterior motive, she laughs. “Hopefully if they have a winter sport they like, they will stay in Minnesota close to me.”
Day-to-day, whatever they do, they do it together, whether it’s sports, music or academics. “We also take the time to volunteer together, as a family, which I believe is important to provide a positive influence that will affect how they are as adults.”