Persisting Through The Dark: Women in the Boardroom

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The 2017 Heidrick & Struggles Board Monitor: Is Diversity at an Impasse? highlighted that after seven years of slow progress since the survey began, “women directors lost ground” in Fortune 500 companies.
The share of women-held seats dropped by 2 percentage points to 27.8%. The 50% projection pushed to 2032, yet again moved further off in the future.
So it’s no surprise that in their inaugural survey, Nevertheless, She Persisted: The Challenges and Opportunities Experienced by Senior-level Executive Women as They Journey to the Boardroom, Women in the Boardroom (WIB) found that the two words senior-level, executive women are mostly likely to use when it comes to the process of seeking a boardroom seat are “excited” and “frustrated”.
WIB surveyed over 500 senior-level, executive women who were either already serving as corporate board directors (25% of sample), or were interested in service, about their experiences.
The report found a tension between “the excitement that women feel at the prospect of service – and the frustration of securing that opportunity.”
Boardroom Journey: Obscured, Unsupported & Opaque
In their previous 2016 Board Monitor, Heidrick & Struggles pointed out that a major reason women representation is not moving forward is that “most boards are seeking new members from among ‘the usual suspects”, applying the same old process to the candidate selection pool, criteria and picks.
Indeed the WIB survey found that 90% of respondents felt that male networks dominate corporate boardroom searches and over 60% felt they function more effectively than their own women’s networks. 39% of women felt they had no board influencers in their personal network. Yet networking (and broadcasting their intention) remains a core tactic among women who seek, and especially attain, a board seat.
The report authors say, “there are exclusionary practices at play” including that often corporate culture doesn’t seem to actively support women’s boardroom ambitions, as 28% of senior-level, executive respondents chose not to talk about their boardroom aspirations at work.
Only 16% of respondents indicated their employer makes gender diversity in the boardroom a priority that is backed with action, policies and standards, and only 4% feel personally supported in their boardroom intentions.
While the candidate selection process is a well-worn default that fails to serve diversity, or ultimately business itself, pushing oneself towards the boardroom as a woman remains confusing. It’s still far from clear to most senior-executive women just how to break into the boardroom, from what remains a position of outsider status: being a woman.
Among respondents, 66% felt that the selection process is “opaque and mysterious” compared to other aspects of career advancement. 36% have no or only occasional interaction with their company’s board, and 30% of women who have boardroom ambitions don’t have a strategy for securing a seat.
The Persistence of Imposter Syndrome and Unconscious Bias
Even though the WIB survey was among senior-level, executive women that by all indications have achieved professional success, nearly 70% believed that high -achieving women are still deterred by both the inability to internalize and own their success and their fear of being exposed as inadequate.
The third most popular term used to describe pursuing a boardroom seat is “intimidated”. Despite that, 62% of respondents felt confident they are qualified and will get a board seat, and more women felt “excited” and “empowered” by the process than overwhelmed.
Even more prominent is the contextual reality of unconscious bias, such as how boards tend to end up gender matching, meaning they replace men with men and women with women.
Research has shown that awareness alone can’t mitigate unconscious bias – there is a level at which influences on decision making remain unconscious.
Showing You Mean Business About Boardroom Aspirations 
The WIB survey found that women who get through the door were more likely to prioritize securing a seat as a top career priority (83% vs 70% of all respondents).
These women “create a plan, market to their network, work on crystallizing their value add as a candidate, and invest in expert help, whether through coaching or membership in specialist organizations.”
The results revealed these women are taking specific and visible initiative, showing it matters to put your hat in the ring while being vocal about it.
Among these women, 80% belong to a networking organization (vs 66% of women), 67% belong to a board-specific networking organization (vs 40%) and 83% have alerted their network of their ambitions (vs. 54%).
So it’s fair to say that speaking up about boardroom intentions and getting specific in your actions, whether you feel supported by corporate culture, matters to reaching the coveted seat.
This not only means reinforcing your own right to put yourself forward, but advocating for other women, which only 34% of respondents agreed that women do.
For A Different Story: A Different Candidate Pool
Ultimately, we need a story about women on the boardroom that’s not about how some women beat the odds to break into the boardroom. We need a report that doesn’t have to say, as the WIB report states, “executive women thrive often in the absence of supportive structures and culture at work.”
Sure they do. But how much longer will that be the requirement these women have to meet?
We need a story in which the odds are for women rather than against them, in which they are invited into the boardroom not breaking into it, in which there isn’t too often a glass cliff hiding underneath the welcome mat when it appears, in which a corporate culture of both support and access are present rather than lip service and evasiveness, and where senior-level, executive women don’t see the path to the boardroom as mysterious, even from their relatively advanced position.
The report authors urge companies to look at communication, connection and culture as three key areas in which they can better support women into the boardroom.
And the one thing that makes a difference to increasing female selection to the board, according to Stanford research, is simply putting more women candidates into the candidate pool.
Boardrooms that truly hold themselves accountable to diversity will broaden their candidate pool and use vision to change the way the candidate sphere is defined.
Until then, we’ll celebrate the women who swim upstream – and often through the dark – to claim their too rare place in the boardroom. a
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Mover and Shaker: Jessica Roy, Vice President of Corporate Marketing and Communications, WEX

By Cathie Ericson

Any successful professional will tell you that sometimes you need to rely on intuition to manage the multiple types of interpersonal situations that can arise. For WEX’s Jessica Roy, it boils down to trusting your gut the moment you identify that something is a bit off—whether it’s a feeling about how a project is being received or the sense during a conversation with a colleague that you’re just not getting your point across.

“It’s almost always intangible, because if you knew what was wrong you’d fix it,” she says. But at those times, she believes it’s more important than ever to take an extra moment to revisit the situation, candidly inviting the other party to speak up so the two of you can fix the situation rather than letting it fester.

“When you experience that nagging piece, you have to take the time to dig in to understand what may not be working well and solve it”, she says, or even agree to disagree after having the conversation. But she’s found that it’s always worth it to clarify a position rather than taking the easier way out and letting it go.

Reveling in a Career That Could Never Be Called Boring

Committing to following that intuition when needed has helped Roy progress throughout her career. Her first corporate job as the regional marketing director for outlet malls in the Northeast prepared her for anything, she says.

Among the tasks she deftly handled over the years were rescuing a nun from a locked bathroom on the Fourth of July weekend in Cape Cod; answering a call about a man who had fallen into a retaining pond in the North Conway location during the holiday season; and single-handedly emptying a luxury-brand shoe store after the bankrupt tenant fled under cover of darkness.

What did the mayhem teach her? That even though all the above incidents seemed to have nothing to do with her title of “marketing director,” they actually had everything to do with it, because each mishap offers an opportunity to create a positive customer touch point.

Her next position was what she calls “a delightful stint” in tourism marketing for her beloved home state of Maine, promoting the New England region to overseas tourists.

And now, although she’s been with WEX for 15 years, the company has experienced such rapid growth that it feels like a different job every five years, she says, adding that as WEX continues to acquire new companies and move into new verticals, her corporate position will continue to evolve and grow.

Roy is particularly excited about the rebranding she helped to oversee, with the charge to modernize the corporate brand (Wright Express), rationalize the product brands, integrate acquisition brands and complete a brand launch. During the process, she and her colleagues also renamed the company to WEX and redesigned the logo—both of which were key components in changing its positioning from a domestic fuel card business to a global payments company. “Our brand is a living, breathing, evolving entity,” Roy says.

A highlight was standing on the floor of the New York Stock Exchange when WEX went public. “There I was, in the middle of managed chaos, watching the then-CEO ringing the bell, and then our ticker symbol went live,” she recalls. “This was an amazing American moment, and I felt that I was not only witnessing but participating in the American dream. What I realized in that moment was that a small group of talented, driven people can accomplish amazing things.”

That’s the vision she continues to drive forward—currently finding incredible pleasure and challenge in integrating the products and services of two recently acquired companies into the broader WEX offerings. “It’s like a challenging jigsaw puzzle, and it is exciting to put the pieces into the right places,” she says.

Finding Meaning Outside the 9-to-5

Roy is part of WEX’s recently introduced “Women at WEX” mentorship program, which has garnered enormous interest in the company. “Obviously the need is there,” she says, based on the positive response it has received. In addition, she has benefitted from numerous other leadership programs over the years.

As a native of the tiny mill town of Madawaska, Maine—as far north as you can go without hitting Canada—Roy has taken every opportunity she can to travel the world. Among the amazing sights she’s had the pleasure of seeing are giant tortoises in the Galapagos Islands, Buddhist temples in Japan and 800-year-old hill villages in southwest France. The best part? “I’m just getting started,” she says.

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Voice of Experience: Gillian Emmett Moldowan; Counsel in the Compensation, Governance & ERISA Group; Shearman & Sterling

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By Cathie Ericson

emmettIf you don’t ask for what you want, you’re not likely to get it, says Shearman & Sterling’s Gillian Emmett Moldowan. “There’s less informal mentoring for women in law firms, and it can be harder for women to just ask for what they want, but if you fail to do so, it’s unlikely people are going to seek you out to offer what you need,” she notes.

In fact, one aspect of Shearman & Sterling she has appreciated is the strong, visible female leadership, where female partners hold key firm committee positions and regularly participate on panels as subject matter experts in all types of topics, not just those related to women. That visibility has helped her identify mentors in the firm, an important part of any career path. She finds that taking control of your own career is critical, a theme that has resonated on her own journey.

Forging Her Own Path

After graduating from law school in 2007, Moldowan took a job at the firm where she had summered, Davis Polk and Wardwell, spending eight years there, and eventually being promoted to counsel. While there she worked on a number of transformative deals, but one that stands out to her was representing Comcast in the acquisition of NBC from GE. “It really made an impact on me to have an integral leadership role in that transaction, even though I was more junior at the time.”

Moldowan eventually left Davis Polk for a role at another firm. However, while working there, she realized it wasn’t the right long-term fit and started talking with Shearman & Sterling, a firm that was the clear “right fit “ ever since she started in April. “It feels familiar, but new,” she says, with the type of work she loves to do combined with new challenges and a culture that fits her style.

“I was willing to go outside my comfort zone and take risks, leaving a very stable environment, but ultimately finding something that was the right fit,” she says, admitting that goes against her
personality as a lawyer, a group not normally know as risk takers. She enjoys the variety inherent in her position, where she might work on more than a dozen matters a day, from securities offerings to M&A transactions to executive entrances and exits on both sides. “The constant challenges keep me excited and on my toes, which is why I picked this specialty in the first place,” she says.

And, she sees that the industry is on the cusp of even more innovation, given the trend toward more activism by shareholders, who are increasingly interested in governance, compensation, workplace diversity and gender pay gap considerations.

Most notably, she sees that new tax reform could be transformative in terms of executive compensation and provide the opportunity to learn something new and be innovative. She likens it to the new regulations in executive compensation of a decade ago, when, as relative newcomer to the profession, she was given the opportunity to learn novel concepts alongside more seasoned professionals who were also coming up to speed.

Achieving Work-Life Integration

While the buzz of the moment is all about work-life balance, Moldowan chooses to embrace the spirit of integration by instead looking at life from a more holistic view. “If you love your job like I do, it’s part of your life, which makes it hard to box it separately and focus exclusively on your most immediate goals—instead you look at the long-term big picture,” she says. Of course, she notes that can be hard as a junior associate coming directly from an academic structure where everything is segmented into semesters, necessitating a focus specifically on what’s directly ahead of you.

“If you’re in a job with that mentality for too long, it becomes defeating,” she says, especially at law firms where there used to be a known trajectory in terms of timing, and it was possible to put parts of your life on hold until it happened. Now, she says, there’s so much more variability that associates need to integrate work into their overall life.

That’s why she encourages others in the profession to find something they love to do, which means that even when your schedule is crazy, you won’t feel like you’re suffering. At the same time, she encourages women not to feel disappointed in themselves if they don’t want to strive for more. “No one should ever feel stuck or perceive that they haven’t done as much as they ‘should’,” she says.

With two kids—a second grader and a kindergartener—Moldowan focuses on spending all the time she can with them. They love to explore the city; having grown up in an urban environment, they are used to walking everywhere, so she finds bringing them to the city for the day is an excellent adventure in museums and Broadway shows. They love to listen to music at home and both kids are involved in theater. Since she herself did a lot of costuming in college, their Halloween costumes are epic. Always one to lend a helping hand, Moldowan is also on the board of trustees at their school, acting as chair of the audit committee.

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Voice of Experience: Kristi Mitchem, Chief Executive Officer and Head of Wells Fargo Asset Management

Kristi's Mitchem Wells FargoWells Fargo’s Kristi Mitchem believes that women need to visibly support one another. Where a man might readily high five another man for something unremarkable, research shows that women can be more reserved in their praise. Women are naturally aligned with other women and as such, Mitchem stresses the importance of consciously and vocally “friending” one another in corporate settings. “I tell women not to come out of a meeting without commending another woman. You want her to know that it’s important that she shared her opinion,” Mitchem says. “You also want the men in the room to recognize that she has value to add. “

Erasing gender inequality is an issue that Mitchem is passionate about—particularly in Corporate America, where she’s spent her career. “If you’re a young woman coming into finance today, you don’t see a lot of successful women in elevated positions. We need to have women visible in high-level positions so young women can see what’s possible.”

As it relates to advice she gives others, Mitchem cites strong communication skills as an imperative for success. “I consistently see women who could improve their skills in the area of presence and would benefit from seeking guidance on how to talk persuasively and powerfully,” she says. “One of the most wonderful things I have realized is that it is a learned behavior that you can enhance over time.”

Weaving Her Way Around a Successful Career

Mitchem was a Fulbright Fellow in Costa Rica, and her study there ignited her interest in Latin America and her desire to flex her language muscles. One of her first positions was with CS First Boston in the firm’s Latin America Finance Group, where she split her time between New York and Mexico City, working primarily on finance assignments. After completing the analyst program, she went on to earn an M.B.A. from Stanford University and completed a summer program with Goldman Sachs, where she accepted a full-time position in the emerging markets fixed income group as a sales trader in New York City.

As her career took off, love intervened. Mitchem became engaged to someone she’d met at Stanford who was starting his own company, and given the geographic realities, she took a position on the west coast, moving from sales trading in emerging markets to equity derivatives.

It was an auspicious time given the rise of tech hedge funds coinciding with the greater predominance of index fund management, and being part of that rapidly growing business allowed Mitchem to make a name for herself. At Goldman, she was selected for a program within the firm that identified high-profile candidates and gave them specific support needed to move forward in their careers. Mitchem credits this program with helping her achieve the designation of managing director.

As Mitchem was ready to take her next career leap, family again interceded. Pregnant with her third child, she decided she needed to move away from working market hours and perennially waking up at 3:30 a.m., which can take a toll. So while she wasn’t looking to leave Goldman, per se, she knew she needed a schedule that was more sustainable.

She joined one of her chief clients, Barclays Global Investors (BGI), helping them turn around their transition management business.

“I brought in great talent, and we were cooking with gas within a year,” Mitchem says. “One of the things that defines me is that I have a lot of energy and like to move on when something is complete, and the talent is there to support it. My next thought is always ‘What’s next?’”

Her CEO asked her to take on something completely different, leading an initiative around the defined contribution (DC) market in the United States where she says she had the amazing opportunity to build a team from scratch and capitalize on this growing segment of the marketplace.

When BlackRock bought BGI, she decided it was time to move on so she joined State Street Global Advisors (SSGA) to help them grow their DC business. She was subsequently asked to take on various new roles and ended up managing all of the Americas institutional business.

While at SSGA, Mitchem achieved one of the professional accomplishments that she is most proud of, which is an intersection between a personal passion and professional opportunity. That came in the form of an ETF launched in 2016 that invested in companies in the Russell 1000 committed to making progress in terms of gender representation at the most senior levels of management. “We were putting capital behind the companies that were making a difference on gender equality, which is a true win-win — investing in something that will have a positive expected return and also aids in the achievement of gender parity,” Mitchem noted.

In June 2016, she began her new position as CEO of Wells Fargo Asset Management which she calls a “fascinating assignment and an incredible opportunity to deliver value to clients through a large organization with so much reach.”

One of the most interesting and challenging trends she is addressing is the money moving out of active management, as well as the changing regulatory environment. “Now more than any time in my career I feel I’m at the point where I can play a key role in helping an organization pivot, as we build expertise in multi-asset strategies and quantitative investment management to add to our already strong platform in fundamental active management.”

To that end, she has spent much of the last year building out quantitative capabilities at Wells Fargo Asset Management, including the acquisition of Analytic Investors, a leader in factor-based investments based in Los Angeles. Although active management is in the firm’s DNA, she contends that it can co-exist symbiotically with multi-asset and other quantitative strategies under the same roof.

As Mitchem looks back on her career, she says that one thing she wishes she’d known more about is the science on women in the workforce. “I remember getting a review as an associate at Goldman and after a positive performance recap, my boss said that I needed to be more ‘likeable.’ At the time I obsessed about it, but I know now that there are numerous scientific studies showing that as women become more successful, they are typically rated as less ‘likeable,’” she notes. Mitchem feels that if she had had that information, she would have pushed back or perhaps put the feedback more in context. The trick, she says, is to separate the feedback that is unique to you that you can use to improve your performance, compared to what’s related to more broad-based gender issues.

The Right Support Network Makes All the Difference

When Mitchem considers her success, she is quick to give credit to her husband and her caregiver. “It may sound strange, but you have to find the right partner for your life who will support your aspirations. If it’s to be a stay-at-home mom, great; if it’s to work, great. But if you are leaning toward one way or another, the person you choose may be different,” she points out. “My husband has always been tremendously supportive of my career, and I believe it’s important to model a working spouse for our children.”

Secondly she credits her children’s caregiver, whom she calls a “pillar.” “We have had the same caregiver for our children since our first daughter was born and she is truly a co-parent with us, enabling us to have successful careers and a well-adjusted family.”

Mitchem also finds time for camaraderie with other women; having reignited her love of tennis over the past couple of years after playing as a kid. “It allows me to dual task – getting exercise in a way I love while socializing with fantastic women.”

With three girls, ages 16, 13 and 11, she is acutely aware of her position as a role model, and has always integrated her children in her work, even bringing them on business trips when they were younger. “We love to travel as a family, and one of the interesting things about my career is that I’ve had the opportunity to live and work in different countries, which has given me a true appreciation of other cultures. I believe that, as a parent, it’s important to impart a curiosity about the world to your children.”

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The Motherhood Penalty: Overcome this Career Advancement and Wage Blocker

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Guest contributed by Josie Sutcliffe

motherhood

Image via Shutterstock

Despite considerable attention, the gender wage gap has only improved by 8% in the last 20 years — a slow pace of improvement that indicates removing the gap entirely is more than a generation away.

What’s holding up progress?

A Visier Insights report analyzed an aggregated database of over 160,000 US-based employees of over 30 large US enterprises and found that there’s an underrepresentation of women in manager positions — in particular during the key childcare years — directly driving the overall gender wage gap. This finding is known as the Manager Divide and has a strong correlation to motherhood.

The Motherhood Penalty

Simply put, during the key childcare years women are increasingly less likely to hold manager positions, which directly impacts their average earnings compared to men.

At the time the gender wage gap begins to widen (starting with women at age 32 earning on average 90% the wages of men and decreasing to just 82% by age 40), women are increasingly underrepresented in manager positions. This directly drives the gender wage gap as managers earn on average two times the salary of non-managers.

diagram

The Manager Divide occurs during the key childcare years: most women in the US who have children give birth to them between the ages of 25 and 34. And with most children entering school (and, therefore, requiring less childcare) at age 5, women who have children are most likely to experience increased childcare demands up until the age of 39. Despite an increased trend towards equal parenting, in today’s society women still typically take on more of the family care responsibilities. These responsibilities impact their careers.

It’s worth noting that, when reviewing promotion events by age, there is no significant difference in the overall rate of promotions in any age range for women or men. In other words, women are promoted at the same rate as men during the Motherhood years, but men are more likely to be promoted into manager.

If the Manager Divide was removed and, therefore, the same proportion of women held manager positions as men, the gender wage gap across all workers would be reduced by just over one third for those over age 32. If this “augmented” population of female managers were then given the same average salary as male managers, the gap would be cut in half.

diagram

Taking Steps to Finally Close the Gender Wage Gap

If a company pays women and men the same for equal work, but then underrepresents women in the better-compensated manager roles, that company has not achieved gender equity.

Here are some actions leaders can take to promote and ensure gender equity:

  • Get a high-level understanding of the state of gender equity within your organization. Start with simple metrics like “female ratio” (looking at the percent of total headcount that are female) by department, role, and/or location, and in your hiring pipelines.
  • Dig deeper by finding out if pay and performance ratings are unbiased for men and women. Compa-ratio is a classic compensation calculation that indicates how close a person’s base pay is the pay level midpoint for the role they perform. If women have a lower than average compa-ratio, then it is likely that pay decisions are not being made equitably. Similarly, understanding the proportion of employees who receive each level of performance rating and then comparing this to the proportion of each rating for female employees will uncover if performance ratings are handed out in an unbiased manner.
  • Measure not only promotions by gender, but also the nature of the promotions: by role, department, or location, find out if the percent of women promoted to or holding manager positions is lower than the percent of men promoted to or holding manager positions.
  • Take steps to correct gender inequity, starting with your processes for hiring and promotion. Implement the Rooney Rule: for every manager position you have open to fill, consider “at least one woman and one underrepresented minority” in your slate of candidates. Consider blind screening of resumes (removing names or other gender identifiers from resumes) when selecting applicants for interviews. And introduce consistent and gender bias-free performance management processes.
  • Given that the Manager Divide is connected to the years when women are most likely to have increased childcare demands, look into ways your organization can better support paid parental leave. It should be equally available to mothers and fathers, and be socially acceptable not just for mothers, but also for fathers to take. Flexible working time arrangements could be a key part of your solution.

Make the business case for gender equity at your organization. It isn’t just about fairness, avoiding lawsuits, and protecting (or building) your employer brand (check out the InHerSight for an idea of what the future holds — a Glassdoor-type site that focuses on rating companies from the perspective of their support of women). Research by McKinsey shows that companies in the top quartile for gender diversity are 15% more likely to have financial returns above their respective national industry medians. According to a  2016 McKinsey Global Institute report, if full gender equality is attained, $4.3 trillion could also be added to the U.S. economy by 2025.

Disclaimer:  The views and opinions of Guest contributors are not necessarily those of theglasshammer.com

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Increasing Accountability in Yourself and Others

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Guest contributed by Linda O’Neill, VP of Strategic Services at Vigilant

accountability

Image via Shutterstock

Almost every executive I talk with desires a more accountable organization. Many of them are running highly effective and profitable companies and it is their goal to keep the bar moving up and to the right.  There is room for improvement. In an accountable organization each employee understands his/her role and each employee can be counted on to do his/her job with no surprises. When a company’s culture embraces accountability, employees are self-motivated to contribute to the success of the organization.  It’s important to remember that accountability is voluntary – you can’t make employees (or anyone else) more accountable. There are, however, steps you can take to increase the likelihood your employees will choose to be accountable.

  1. Define it. It is important that everyone in your organization define accountability in the same way. Spend some time on this as a leadership team. Webster’s dictionary uses words like “answerable” and “explainable” to define accountability. To me, the most important element of accountability is the obligation to answer for our actions. It’s not just completing the actions.  It’s being responsible for the consequences of our actions in addition to completing them. It involves taking ownership of your job. There is no room for blaming others. What’s more important than the way I define accountability, however, is the way you define it for your organization. There is no right or wrong answer.
  2. Communicate it. Communicate the company’s expectations around accountability – broadly, consistently and frequently. You will be the most successful when you communicate accountability in context with the company’s mission, values and goals. When each employee understands that the way his/her job is done affects the company’s performance, you will experience greater individual and collective accountability. Put more control in the hands of employees for how they meet the expectations of their job/role. Employees who feel responsibility will also more willingly embrace accountability.
  3. Reward it. Just as you spent time defining accountability, spend equal time understanding how you will measure and then reward it. As the company makes progress toward its goals, share the information broadly. “The Carrot Principle” by Adrian Gostick and Chester Elton is a great book to gather ideas about rewards. The authors stress that rewards must be deliberate. Create a system for yourself. You won’t just “remember” to reward employees. Tie the rewards to company goals and the employees’ role in meeting those goals. Communicate how the employees’ accountability (obligation to answer for actions) affected the goals.

Wanting more clarity around measuring accountability

It is important for every employee at every level in the organization to have a document articulating his/her accountabilities (similar to a S.M.A.R.T. goal document). I like calling this document simply “<Name> <Year> Accountabilities” (i.e., mine would be “Linda O’Neill’s 2017 Accountabilities”). Identify the categories important to your business, such as financial performance, customer service, team leadership and executive maturity. Clearly articulate the accountabilities in each area. Once you have a complete list of an employee’s accountabilities, define how you will measure success. For example, an employee may be accountable for bringing in $15 million in service billings for the fiscal year. The employee would record the results achieved at the end of the period.

Wanting greater accountability to self

Accountability comes from the inside out; it is a choice. Let me say that again: Accountability comes from the inside out; it is a choice. As a result, it makes sense that learning greater accountability to self enhances accountability on the job. Positive change begins with individuals changing themselves. You can translate the same strategies listed in the “wanting more accountability from others” to yourself. First, define what accountability means to you. Do you take an “owners” mentality to the commitments you make to yourself as well as the commitments you make to others? Next, spend some time noticing how your actions compare to your definition of accountability. You might want to write down every commitment you make to yourself or someone else for a week and then notice what supported or what got in the way of your accountability. What conclusions can you draw about you learned? What small change will you make to increase your satisfaction with your accountability to self? How will this enhance the way you model accountability for others?

Conclusion

Accountability means being doing what you said you would do, and being answerable for all of your actions –those that influence others and those that affect only you. When there is little accountability in an organization, stress levels tend to rise, communication is reduced, and territorialism is pervasive. When accountability is strong, employees are engaged, performance is high and company goals are met. What choice will you make to improve accountability both within your organization and within yourself today?

Disclaimer: Opinions and views of guest contributors are not necessarily those of the glasshammer.com

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Voice of Experience: Efrat Ravid, CMO, ContentSquare

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By Louise Magrathefrat

I’m a great believer that women have what it takes to be great engineers, says ContentSquare’s Efrat Ravid. “It’s imperative that more woman study engineering and technology to ensure that more women enter the field and become technology leaders. Women should be represented at least at a 50% ratio in engineering schools, in engineering companies, and in every aspect of the technology world.”

Encouraging Women to Enter the World of Technology

As an engineering student, Ravid was in a small class with 22 other students and only four of them were women. Many years later when she went for her MBA, she was in a class with 56 students, and still only six of them were women. Fifteen years later, and nothing had changed. Ravid was determined to play her part in changing this. “I wanted to make a difference, to encourage and support women in the world of technology to try and address this imbalance,” she says

She sees the demand in the market for engineers, and she knows that if women get their degree in engineering, they will be able to find great jobs and add value to their companies from day one.

Ravid began her career as an engineer, where she was sent to inland China to work directly with manufacturers and factories. Although a very young engineer at the time, she wanted to take the next step with her product and interact directly with customers to make better product versions. It was in doing this that she found her passion for the customer experience. She spent her time traveling around China and Korea and developed products that customers appreciated and got value from. “I was determined from the start to be successful, and through hard work, commitment and enthusiasm, I saw the business grow,” she comments.

Sponsorship and Mentoring of Women in Technology

Today, Ravid is the Chief Marketing Officer of an exciting SaaS company, and uses her position to mentor and sponsor other women. “I believe it is up to us as women to empower other women to become leaders in the technology industry,” she says

Ravid is passionate about hiring ambitious women who promise to do a fantastic job for ContentSquare. She believes that if women are capable and engaged that they will be successful no matter what their circumstances are (she employed the first female sales person for the US when she was six months pregnant) and comments, “When you are engaged, you are engaged. A woman can be amazing at many things at a time, and someone who is dedicated in one area can easily be dedicated in another.”

A week after this sales person was hired, she traveled with ContentSquare to a trade show in Las Vegas and she was amazing. She was the first one to show up, the last one to leave. This was a very successful woman who cared about her career, cared about her kids, and cared about her family. “I look for the value and talent in each person I hire, and take this mindset and apply it to everything that ContentSquare and I do,” she says.

Motivation for a Career in Technology Starts at Home

Ravid encourages her own children to enter in to a career in technology. Although she tells them that they can be whatever they want to be, she encourages them to study math and science.

Ravid’s daughter has accompanied her to work and was fascinated by all the successful women in the company (the head of product is a woman, many of the customer success managers are women and there are female operations managers as well). “She was so caught up with all the female role models she saw that she simply said at the end of the day ‘I’m in’,” she comments.

When Janine Tesori won her Tony Award in 2015 for Best Original Score, she told the crowd that as a young woman she didn’t realize she could have a career in music until she saw a woman act on Broadway. Holding up her Tony, she said, “For girls, you have to see it to be it. We stand on the shoulders of other women who have come before us.”

So to all the tech-women out there, Ravid thinks it’s time to bare our shoulders to the world, and give women a positive vision for success in technology.

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The Multitasking Way of Life

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office

Image via Pixabay

 

Guest contributed by Terri R. Kurtzberg and Jennifer L. Gibbs

There’s an old joke that says that if a man wants to know what a woman’s mind feels like, he should imagine having a browser with 2,857 tabs open ALL THE TIME. Indeed, we do, as a society, promote the image of women as multitaskers—balancing the needs not only of our families alongside our careers but also serving in caretaking roles as well as more content-filled ones, even in the workplace. In addition, many have noted of late that women are predominantly the ones who are expected to keep track of information—across domains—in their heads. While there may be some real truth to the fact that expectations for women’s roles and knowledge do cross boundaries more often (in the big picture sense as well as in the minutes-of-the-day sense), there’s also a great fallacy in this line of thought.

Unfortunately, the truth (as we know it from cognitive science research) is that human brains, of any gender, are poorer at multitasking than is generally thought to be the case*. Our brains just weren’t meant to do the amount of parallel-processing that we so often attempt in today’s world. So, for example, trying to answer a text message while still holding onto the thread of a conversation or meeting already in progress is generally not fully successful. It may be successful enough—that is, it may be possible to string together enough of the information in the conversation or presentation even though there are gaps in what you heard or could process while you attended to something else—but there are two problems with this. First, there are indeed gaps, since our brains in fact cannot process two language-based tasks at once, and so we don’t always know what it is that we missed and whether it would have been important to our overall understanding of the topic.** Second, there is the issue of burn-out.*** Simply put, it is exhausting to have multiple streams of unfinished business (or “open tabs”) ongoing in the mind. Most people, but perhaps women especially, underestimate the toll that this takes. We assume that through sheer force of will, we can be successful at keeping all the balls in the air.

Thus, while research on distraction and multitasking has not yielded strong differences in the way it plays out for men and women, there certainly are important lessons for women aiming to make strides into higher positions. These fall into three categories:

  1. Know thyself: Understand that we are doing ourselves a disservice by constantly trying to keep track of too many things simultaneously. Then, do an “audit” for yourself by watching your behaviors and your incoming messages for a week. How many of them actually needed your attention immediately? Find the worst offenders, and make changes. Turn off notifications for blocks of time, set expectations by letting people know (perhaps through an outgoing email note) that you will respond to messages at the end of each day and not continuously, but to do X in case of truly time-sensitive needs, and remove your phone from your line of vision whenever possible.
  2. Know that you are being watched: People see you on the phone when you are in front of them. They can even reliably tell when you’re not listening with your full attention even if you’re not visible (say, on a conference call or one-on-one phone call). And yes, they absolutely do think differently of you for this lack of focus.**** Give the gift of your full attention. If you do need to pull your attention away, own up to it by explaining why to those engaging with you.
  3. Know the power of setting the tone from the top: Leaders have an opportunity to step in and make decisions to help rein in the problems stemming from the over-use of mobile devices. For one thing, there is a strong “monkey see, monkey do” effect that happens with respect to use in the professional setting. This problem is exacerbated since communication technologies have only existed for a tiny sliver of time, relative to human development, and continue to change so rapidly. Therefore, the “rules” are still being established for when and where it is appropriate to be engaged with technology instead of with the surrounding people. Being the social animals that we are, we are thus very tuned in to watching how other people are using their mobile devices, and tend to follow suit. For example, it is common to see one person bring a laptop to a meeting one week, followed by a whole crowd of people with their laptops open the next week. Similarly, seeing your colleagues answer emails at all hours of the night and on weekends put tremendous pressure on you to follow suit—a pattern that results in both lower productivity and higher turnover. These slippery slopes can be avoided by a wise manager attuned to the dangers of too much connection, and who makes explicit policies to the contrary.

Women are indeed pulled in many directions at once, and do keep track of many, many different “open tabs” each and every day, especially as they rise to higher levels at work. However, it is important to understand the natural limitations on human cognition as new technologies stretch the amount we ask of ourselves and our minds. Only then can you best out of yourself and those who count on your leadership.

 

*Ophir, E., Nass, C., and Wagner, A. D. (2009). Cognitive control in media multitaskers. Proceedings of the National Academy of Sciences USA, 106, 15583-15587.

**Bowman, L. L., Levine, L. E., Waite, B. M., and Gendron, M. (2010). Can students really multitask? An experimental study of instant messaging while reading. Computers & Education, 54, 927-931.

***Wajcman, J., & Rose, E. (2011). Constant connectivity: Rethinking interruptions at work. Organization Studies, 32, 941-961.

****Kurtzberg, T.R, Naquin, C. E., and Krishnan, A. (2014). The curse of the blackberry: Multitasking and negotiation success. Negotiation Journal, 30.

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Why Does Being Recognized in Our Job Matter?

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 By Nicki Gilmour, Executive Coach and Organizational PyschologistNicki Gilmour

 

We all have different personalities and we all have different needs, some based on personality and some based on the constructs and paradigms that we have become attached to over time.  Some people care about status and title and others care about responsibility or money regardless of title. No one is right and no one is wrong as it is just who we are and how we have been formed via socio-norms, our own experiences and also our interpretation of those experiences.

While need for recognition scores on psychometric tests vary person to person, we all have in common a basic need to feel that people see us  in the most primal human sense and that it matters that we are there.

So, what happens if you feel that you aren’t making a difference? That if you left tomorrow, if wouldn’t matter? If it’s at work only* then its time to review what can you do to feel better about your visibility. Or it is possible that you are experiencing burnout and just need some renewal from the grind. So, how do you get that renewal in a busy world with situations that seem to need resolution as quickly as they appear on your radar?

I read an interesting piece yesterday about coming at a hard project with renewed vigor yesterday with  “Rest and Return” being one strategy when feeling stuck. Equally, having a learner mindset, by that I mean, knowing you are there to learn and not judge yourself harshly but rather learn from what happened. This can really help with longevity in any career and in life generally.

If you are in the mood for post Thanksgiving read, there is an easy book that can make you reflect a little of how you frame things to yourself. “Change your questions, change your life”  by Marilee Adams. Or an exploration of your mindset and how a fixed mindset can hinder you will take you to Carol Dweck’s mindset work. 

As a coach, I firmly believe that growth and renewal can only be achieved when you look at past patterns and current mental models and see how they are affecting your future plans.

Sign up for a five session coaching package with me for $2000 to get you off to a good start for 2018. Book an exploratory call here to see if I can help you thrive not just survive, advance, change jobs or figure out the next 12-24 months at work.

 

**If you are  feeling blue about other areas of your life its probably best to see a therapist or clinical psychologist as well as a coach.

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Voice of Experience: Kerone Vatel, Managing Director, Risk Division, Goldman Sachs

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KeroneBy Cathie Ericson

“When you have a seat at the table, use it,” advises Goldman Sachs’ Kerone Vatel. “In my 20s I often had an opportunity to interact with executives as part of strategic conversations, but I was reluctant to share my point of view. I know now that in each of those moments I missed an opportunity to influence the organization. I was more focused on my neuroses rather than on the value I could add, but recognizing this has helped to sharpen my focus and my approach in the workplace.”

Adventures in Careers: From Engineering to Business Success

Kerone studied chemical engineering at MIT, a field she pursued and was interested in as her father had been an engineer. While she was drawn to the way engineers are trained to review, evaluate and solve problems, she ultimately realized that rather than publishing research in academic journals – a career many of her classmates were pursuing – she was motivated to use her skills to disrupt existing processes.

She parlayed that interest into a career in business, initially seeking a private equity role. However, just three days before she was supposed to begin her new position, came “Career Stumbling Block Number One,” as the firm let go her entire analyst group.

Undaunted, Kerone sought the counsel of MIT’s career department, which directed her towards Capital One. The company was pioneering a novel approach to leveraging analytics and data, which interested her. Kerone joined as an analyst in the business development group, where she leveraged her math and coding skills to help grow the portfolio of low-risk credit card assets. She also attributes her six and a half years at Capital One with providing her the platform to understand strategy and analyze consumer needs.

Kerone soon relocated to New York, where her husband worked on Wall Street. They were starting a family, which made her commute to Virginia difficult. While on maternity leave, her husband was supportive and encouraged her to consider every option. She soon realized that she couldn’t leave her baby and commute up and down the East Coast, and subsequently made the difficult decision to leave Capital One.

Soon the time was right to investigate new options, and she applied for a role in Derivatives Operations Risk at Goldman Sachs, which she assumed would be a 9- to-5 type job. While her new position proved to be far more immersive, she enjoyed the challenge of a new role, and then decided to pivot her career even further, leveraging her experience in writing code. She found analytics projects to “tinker with,” as she describes it. Under the leadership of a female managing director, she helped to improve efficiencies and highlight high-risk issues in the Operations Division.

From there she moved into a new role, where her team partnered with the Strategist group, many of whom had quantum math and science backgrounds. She eventually transferred to the Operational Risk group in a firmwide role, where she was brought in to support strategy and help develop a more centralized construct when thinking about the full range of operational risk exposure, from technology issues to natural disasters. It’s a position she finds particularly fascinating as she has helped grow the team significantly and developed strong partnerships and collaborations as the firm reframed its approach to Operational Risk management.

Looking ahead, Kerone is excited about Goldman Sachs’ launch into the consumer market, and the opportunity to increase purchasing power and bring the firm’s best-in-class fiduciary services to Main Street.

Words of Wisdom Gleaned Along the Way – And Passed Along

Kerone has learned a number of valuable lessons during her journey; chief among them is to bring your whole self to work. “I felt relatively unsure of myself until I hit my mid-30s and always tried to morph myself into the styles of the people around me,” she says. “Today, I just focus on being my best self and no longer feel pressure to adapt a style that is foreign to me.”

For example, she recently had a colleague comment that she looked particularly serious one morning. “I’d had a tough morning with the kids, which I shared with my colleague. It’s ok to bring yourself to work and to show vulnerability, but it’s very important to provide team members with the context for what’s happening and why.”

In a similar vein, Kerone recommends that women never worry alone. She believes that it is important to leverage the collective ideas and history of the organization to ensure success. When she’s asked to take on a difficult new project, she will always say “yes,” but now realizes the importance of soliciting advice upfront to tease out pitfalls and key enablers and to collect diverse points of view to shape the solution. “Earlier in my career, I kept my head down and worked extremely long hours – in retrospect, I wish that I had harnessed the power of the broader group or advocated for more resources.”

And finally, her work at Goldman Sachs has cemented the important lesson of, “If you want to go fast, go alone; if you want to go far, bring others with you.” Being named managing director was a defining moment as she reflected on the people who had mentored and sponsored her, in addition to junior colleagues from whom she’d learned along the way. “In that moment when I learned I was being named a managing director, it was so clear that everything is due to the effort of a group, all of us pushing things through together by working toward common goals.”

Kerone currently serves as the Risk Division sponsor for Goldman Sachs’ Women’s Career Strategies Initiative (WCSI), a group whose emphasis is on advocating for women who are on the cusp of being promoted to vice president. The purpose is to help women form connections throughout the firm and in their divisions, as well as learn the rules of the road from senior professionals.

“It’s important to me to help younger people get a head start as they begin their careers,” she says.

Taking Time For Herself and Her Family

Last year, Kerone committed to taking at least one short vacation each month to recharge, which she has enjoyed. She also recently took up snowboarding, a big step after a skiing accident early in her 20s.

But most importantly, Kerone savors the time she spends with her husband and her children, ages 11 and 7, gardening with others on their block in Bedford Stuyvesant. They have replanted trees that had been ravaged by storms and brightened the neighborhood with flowers, efforts that paid off after recently being named “The Greenest Block in Brooklyn.”

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