Tag Archive for: C-Suite

Ruth Harper: SVP, Chief Communications & Sustainability Officer, ManpowerGroup

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Ruth Harper“Getting comfortable with uncomfortable conversations is an ideal way to prepare for a job interview, whether it’s going for a position at a new job or putting your hat in the ring for an opportunity with your current employer,” says Ruth Harper.

Harper speaks to the thread that has motivated her all along, supporting women at work and unleashing the opportunities that work can provide.

The Joy Of Empowering Lives

“I witnessed firsthand how the economy can thrive or not, subject to how the world of work works for people or doesn’t. I grew up in a neighborhood in a time when industry was declining, and so there was industrial action and people were out of work, impacting families in a significant way,” says Harper. “My own father had to travel for work. I learned very early about the power of work in somebody’s life, and what happens when you take it away. It’s closely connected to what drives me today.”

Harper grew up in Northern England, an industrial powerhouse, and now lives in Milwaukee, yet another industrial powerhouse. One of the first in her family to go to university and then postgraduate studies, both in human and economic geography, she became a geography teacher – including a stint in the girl’s school once attended by Margaret Thatcher, who became the first female prime minister in the UK.

Curious about what else lay beyond teaching, Harper moved to London and worked with a ‘temp agency’ to figure out how to reinvent herself in work. She was able to transfer her skills to influencing and motivating employment policy, helping unemployed people get back to work and bridging the public and private sectors. It felt meaningful and gratifying, and she was learning a lot while figuring out how to set up public-private partnerships.

“I was working with purpose-driven people who were determined to create opportunities and results that would change people’s lives,” reflects Harper. “The privilege of working on that pulled me into ManpowerGroup. Here I am, 20 years later, still having a nearly first-hand opportunity to create impact. For example, through Manpower’s MyPath program which provides the guidance, support and training people need to build their confidence and employability.”

She notes that while the changing world of work can be exciting, it can be daunting for people in fast-changing industries whose job security feels more volatile: “Being able to address that anxiety and unleash ambition, and to help layout pathways to work for people feels like a thread back to what I could see when I was growing up.”

Supporting Women To Thrive At Work

Harper notes that ManpowerGroup’s Chairman & CEO, Jonas Prising, originally from Sweden, has publicly declared a measurable goal of 50% women in leadership by 2025. Getting familiar with the factors and barriers that can drive women away or block women from the workplace is critical.

“I think organizations need to look at how they help women continue to progress in their career, even when they are part-time or take a break,” says Harper, who spent her own maternity leave in Europe, where she had a year with both of her sons before returning. “Otherwise, we’re never going to get 50% women in leadership because organizations will keep churning out great female talent, who will seek opportunities to balance life and work elsewhere.”

Back in her early days, working in the field of employment policy and government relations with ManpowerGroup, it was not unusual for Harper to walk into rooms full of 55+ year-old white men. They were as likely to assume she was there to take the notes versus contribute to the discussion.

“I learned from a 55 year old male boss at the time to get in there early with a contribution to the discussion. Number one, other people feel relieved and appreciate it when somebody says something first and are likely to even build on it,” advises Harper. “And I learned that contributing early liberates you to relax and enjoy the discussion, because you’re not beating yourself up about not having said anything yet. You may find you are building up to something even bigger to say, but at least you feel good because you’ve contributed.”

She advises the same with networking: “Lots of people don’t love networking. Most people will welcome somebody else walking over to them and saying something; being the first person to put other people at ease is good for you and good for others. It’s a great icebreaker and network builder.”

Navigating Your Desires and Career Journey

Harper likes to surround herself with smart people who bring different perspectives. Curiosity has always pulled her to ask the question ‘what next’. Humility has supported her when she didn’t know that answer.

“Raise your hand, take stuff on and see where it leads you,” advises Harper. “But more importantly, and what I did not always do, is to be confident about articulating where you might want to go, even if it’s not exactly where you might end up, so people have a comprehension of your ambition.”

She encourages women to ask themselves: Am I good with this? Or do I want something different or more? Do I know what that is? How might I get it? Who should I talk to that can help me hone in on what I want?

“Be comfortable with these open-ended questions and then know where your mentors and your people are so that you can have those discussions to help shape your own thought process,” says Harper. “Each person will give you a different set of questions, and that can help you shape a full viewpoint.”

Whether it’s her very supportive husband, or peers inside and outside of the organization, somebody will be able to reflect in a way that helps brings clarity – and sometimes, that means waiting not jumping.

“This is way more of a jungle gym than it is a ladder, so don’t always think that it’s only the vacancy or the opportunity right now that is your opportunity,” says Harper. “Keep going and working it out, until you find or create those opportunities for you.”

Taking On Bigger Leadership Roles

Accordingly, Harper points out that her role of Chief Sustainability Officer did not even exist a couple of years ago.

“There’s nothing more socially impactful than having the dignity to go out and earn a decent living and bring that back to the family and contribute to the community,” says Harper. “At ManpowerGroup, we believe meaningful, sustainable employment has the power to change the world. So, I’m asking how do we, as one of the largest organizations in our industry, set the highest standards and then bring others into that?”

As she’s moved up the ranks, it’s been about “getting out of the weeds” to keep a strategic overview while developing and trusting others. And that means giving people the freedom and safety to do things differently to her (and perhaps even better). “That’s also how I can continue to progress to new and different things – by bringing others with me, so we all rise together and have opportunities.”

Considering herself a talker from a family of talkers, she’s fairly direct in cracking how to get things done. Getting better at deep listening to others, and allowing the pauses in their expression, has been a valuable growth zone.

A mentor of 20 years taught her that leadership style must be versatile and individualized to whoever you are leading. It means both equipping and giving someone the opportunity to run with a project and keeping just enough of an eye to help point them back on track if they are going off-course.

In the spirit of fostering a growth culture at every level, Harper is herself inspired by leaders who are willing to reveal their human side, admit they don’t know something or ask for advice on an idea that is not fully baked.

“I’m really inspired when someone in a senior position puts work in front of me and invites me to build on it, because it shows openness that I might be able to add something to make it even better,” says Harper. “That always motivates me to find really good and constructive input.”

Expressing gratitude at the stage of asking someone to do something, even before they’re delivered (“thank you for…”) is an approach she’s also picked up along the way, showing trust and humility.

Being Purpose-Driven and Making Impact

Harper finds when there is genuine camaraderie in the workplace, people pull together for great things. One of her most humbling and rewarding experiences has been ManpowerGroup’s response efforts to the Ukraine crisis, especially in the Central and Eastern European offices.

“Our Ukraine planning call was the hardest I’ve been on in my 20 years here, but the most inspirational leadership I’ve ever seen, watching people who are really purpose-driven go above and beyond, every day but also on days when it’s needed most,” she says. “And, then how do we continue to do that for refugees or underrepresented groups, too, and find ways to make more impact?”

Recently reflecting on her 20 years at ManpowerGroup, Harper realized she’d moved through many different opportunities and roles, and it hasn’t been a linear journey. What has run through everything is the red thread of getting more people into work and impacting individual lives.

She has two boys, ages 15 and 12, who play American football, soccer and hockey, so being a part of what they love is important to her. She values being present and enjoys traveling, getting outside and good food.

By Aimee Hansen

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Danielle Arnone: Chief Digital & Technology Officer, Combe

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Danielle Arnone“In times of uncertainty, the focus has shifted from seeking answers to raising questions and building relationships to lead through the unknown,” expresses Danielle Arnone. 

Arnone speaks to leading through disruption, the value of listening and encouragement and the importance of taking risks as the stakes rise.

Be Willing to Challenge, Even as Stakes Rise

“Each step along the way has offered me an opportunity to learn and develop my leadership style. From a career perspective, I continue to challenge myself to push ahead in order to grow,” says Arnone, about her twenty plus year of working in technology, digital and e-commerce across various industries – and most recently, in beauty, health and wellness.

With tech at the center of every business, her work is about leading enterprise change “from the inside out and the outside in.”

Early on in her career, she felt she brought a different perspective to problem solving and would regularly test the status quo. Often the only woman in the room, as she began to move up the ranks and the stakes rose, it began to feel riskier.

“It’s a double whammy. You’re challenging the status quo and you represent change in just who you are,” says Arnone. “I’ve had many moments where I had to remind myself – you’ve got to stick with it – because I believed in what I was fighting for.”

She continues: “I won’t say it’s not hard, because in my opinion, it’s unnecessarily hard for women in STEM and why we lose so many and particularly those with high potential. At a certain stage, I decided I didn’t want to be another of those women.”

Being in a male-dominated industry can amplify self-doubt, but being aware of that has often helped her to overcome it.

While many hurdles are systemic and the pace of change is very slow,” Arnone says, “I realized that I’m the only one that can get me unstuck and that is powerful.”

Navigating Uncertainty through Vision

Despite the challenges during these pandemic years, Arnone has focused on leading long term change. While the emphasis in tech has often been to develop the next innovation as quickly as possible, today she stops and asks at every critical decision point: “Where do we ultimately want to go? Not just in the next twelve months but what do we want to envision in five or ten years time? And are the things we’re focusing energy on now truly in service of that long-term goal?”

“The circumstances of the last two years have made me a different leader. I had to take a step back and ask: what did I do in this time? And take the necessary steps to hopefully be proud of the answer,” reflects Arnone.

If there’s one thing Arnone has confronted as she rose, it is getting comfortable with uncertainty. She’s found that by letting go of the notion that you need to have answers, you can come together with curiosity and openness as a team, and arrive at better results.

Speaking to vision and prioritization, she says, “You have to conserve energy to focus on what’s really important, knowing that can change in a moment’s notice.”

“I’ve had to get comfortable with ambiguity. We often don’t know the target or the rules of the game to hit the target,” says Arnone.

Listening and Fluidity in Thinking

“The leaders that I admire most have the ability to listen deeply and surface the question behind the question, without putting people on the defensive, and in a way that takes the conversation to the next stage,” says Arnone.

She feels that listening is key and that an analytical approach can be useful in managing conflict and problem solving. “In an emotionally charged situation, I will encourage the team to tease out the facts, take the personalities out of it and then listen for what is not being talked about.”

When it comes to what she brings to the table, Arnone is adept at absorbing new and broad ideas and loves encouraging the exchange of ideas around the table.

She also enjoys the invitation to step out of linear thought and indulge her penchant for abstract thinking, in which perceptions move and change shape, which is not unlike the leadership skill of having the flexibility to navigate uncertainty.

She will often step away from work to get in the zone so that she can reset and let ideas pour in. These days, she’s exploring artistic outlets. She also jokes that if you saw her many playlists, you wouldn’t even believe they belonged to same person.

Encouraging Others Towards Their Best

Arnone finds leaders who encourage others towards their personal best in service of a greater mission to be the most inspiring. She feels it is rare to encounter, but she has had the fortune to have supportive mentors along the way that have greatly impacted what she values most in her life and in her work.

“Encouragement can be an antidote to self-doubt and frustration. It’s as simple as saying, ‘I see you struggling – what’s going on and how can I help you’.”

She wants to be known for her work to develop people and is especially passionate about helping women succeed. She observes that women coming into the workforce today have a strong sense of what they expect from employers beyond a paycheck.

“I want to see this generation of women keep the momentum going. They are demanding more equity, more balanced and fulfilling lives and holding leaders accountable. To me, that is progress.”

By Aimee Hansen

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Aine Leddy: Information Technology Business Partner, AIG Investments

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Aine Leddy“Curiosity is a hallmark of who I am and has been a huge enabler to my success. I am trying to grow all the time,” says Aine Leddy. “One thing I found when I first came to the U.S. decades ago was that many people were specialized, deep and narrow. I always aspired to know a little bit about everything.”

Leddy speaks to elevating to the C-Suite, cultivating intellectual curiosity and being proactive in expanding your ability to lead.

Stepping up to the C-Suite

Irish by birth, Leddy emigrated to the U.S. in the late 80’s while training to be an oil trader. Finding that her personality was not suited to the aggressive trading environment, she moved into financial services at Morgan Stanley, where she received an analyst training that she likens to an in-house Executive MBA.

After holding a variety of financial roles across 22 years at the firm, she reached an inflection point while working as the finance partner to the Chief Information Officer (CIO) of the investment management division, Marianne Bachynski, AIG Investments+ Chief Information Officer, at the time. Technology was developing to become its own branch of the business, and Leddy was given the opportunity to step into a Chief Operating Officer (COO) role with overview of the IT business.

“I’m a big picture kind of person. I find closeness to decision-making and strategy very compelling. I love to ideate and be in a position where you can see ideas taking shape and then ultimately come to fruition,” says Leddy. “I enjoy the increased personal responsibility to make things happen as well.”

After a few transitions, Leddy began working at AIG in September 2020, motivated by the opportunity to learn about the insurance industry at a highly reputable firm, expand her skillset and reunite with Bachynski. While she has yet to be in the room with her team due to the need to work virtually, she’s been highly impressed by the collaboration, communication, cutting-edge performance, and progress on the big, gnarly technological issues like cloud migration.

Being Curious with Breadth

“I personally like to know enough about everything ‘to be dangerous’ and went out of my way to equip myself with that knowledge,” she says. “That curiosity has served me, particularly with my entreé into the tech COO world. I could show up at the table and enter right into a discussion about the business strategy and where technology fits in, and that was apparent to the people who have given me the opportunities.”

As a teacher’s daughter, Leddy prides herself on being super-prepared and putting the “sweat equity” into knowing her stuff, and it’s a hot-button for her to watch someone trying to wing it when they clearly haven’t done the same preparation. Despite this, she has learned to take in stride the out of left field questions as she is also prone to be the one to ask the question.

Being curious as a principle means the willingness to reveal what you don’t know: “I think a lot of women think it’s better not to ask because maybe you should already know. So, I might soften that by prepping my question with, ‘I probably should know this, but would you mind explaining it anyway.’”

Nine out of ten times, the person next to her will thank her for asking because they were wondering the same thing.

Taking Action in Empowering Yourself

Leddy emphasizes it’s critical to be solution-focused: “I do like to ideate and strategize, but I’m also an action-oriented person. You can sit around and admire the problem for a long time, but ultimately, you have to get the stuff done.”

She feels that taking personal initiative in growing yourself is foundational, as she, too, often hears people defer the responsibility of their learning limitations to their organization, when she argues you can be proactive yourself.

“Training is out there. It won’t always be the customized training that you do as part of the code of conduct or something like that,” advises Leddy. “But you can go and talk to someone with a different skillset than yours. There’s tons of information out there for you to train yourself, and there’s so much you can do for yourself in terms of expanding your horizons.”

When Leddy glances around her senior circle of peers at AIG Investments, and at some of her previous employers, she’s invigorated by the presence of women leaders. She has found herself fortunate to be in environments that reward intellectual curiosity, foremost, and where she felt she could be herself.

“Some women feel they need to be more aggressive to be successful. I never felt I had to be anybody other than who I am,” says Leddy. “When you bring your authentic self to the table in any situation, you’re going to be more successful.”

Being Willing to Move, But Also Move On

“You don’t realize how immersed you are in a culture until you have to get to know another one. I think switching companies taught me to be more open and not to bring my bias from another culture,” says Leddy. “That includes listening upfront and taking in how people work, work together and what’s important to leaders in one company versus another.”

Earlier in her career, while putting three children through college and being motivated by a compensation-focused opportunity, Leddy learned that you don’t always know whether something is going to be a good fit until you’re inside of it.

“I tell those I mentor that you cannot know all of the elements of anything ahead of time, you just can’t. So, if you want to switch departments or companies or even careers, you think you are going in with ‘eyes wide open’ but you may not be,” she says. “The lesson I learned is that if it’s making you miserable, change your situation as quickly as you can, learn from what you don’t want and then move on. Don’t stay where you’re unhappy.”

Staying True to What You Want

While Leddy feels she was most often mentored on business skills, her mentorship has always begun with listening into: what do they really want?

She’s found that it tends to be guidance on the softer side of matters, such as how she managed to get promoted while her kids were little and still feel present in the home. Leddy is known by her peers for being grounded and ‘unflappable’, and she carries that grounding to her mentees.

One thing she imparts onwards is never be afraid to ask for a raise or promotion but be solid in arguing your case for why you’ve earned it. She also advises to not get caught in emotional defeat when you don’t receive what you want, but be resilient, prepare to go back in and to argue your case again.

“I think women do ourselves a disservice, because we take things personally and get annoyed with our manager if we don’t get the raise or promotion,” she observes. “Whereas men seem to think, ‘If it doesn’t happen, I’ll get back in the ring and I’ll fight the good fight again next year.’ Ultimately, promotion is a numbers game. It can’t happen for everybody all of the time, so rather than take it so personally, elevate your case and prepare to ask again.”

Leddy has been married for almost 33 years and her three grown children are now in their mid-late twenties. She loves her Peloton bike and taking in the sun in her garden. She is a huge reader, a passionate etymologist and prides herself on living holistically to enjoy all aspects of her life.

By Aimee Hansen

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How I Landed the C-Suite (And Why You Can, Too)

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Smartly dressed yyoung women shaking hands in a business meeting at office deskGuest Contributed by Deborah Gregory

Ambition, potential, and talent are incredible gifts, but so often they aren’t big enough hammers to help women shatter the glass ceiling. Difficulty breaking through to the C-suite can be frustrating, but I believe everyone has what it takes to become a leader worthy of notice. As I worked my way from law school to the IRS’ Office of Chief Counsel to finally co-founding my own law firm, I found that hard work, personal responsibility, goals, and gratitude are game changers that can propel anyone forward. Once you get those facets of your life in tune, anything is possible.

Focus on your dreams, not your gender

My mom always said, “Anything boys can do, girls can do better.” But when I was growing up, I didn’t see the world in terms of “boys’ activities” and “girls’ activities.” I just saw what I wanted to do, and I did it. Belief isn’t just a fundamental part of who we are, it’s a fundamental ingredient in what we’re able to accomplish. You really can do anything—as long as you believe you can.

Hard work beats talent

People tend to get hung up on whose more talented, but I find that hard work trumps talent every time. When I was in preschool, another student kept beating me at multiplication tables test, and I hated coming in second. I could have said, “Oh well, she’s just more talented than me,” but instead I started waking up early every morning to study even longer. I began making the best grades in the class, and the same strategy has worked for me ever since.

Don’t get hung up on talent—yours or others’. You may not always be the smartest person in the room, but you can always control how hard you work. Be the most prepared person in the room instead. That’s how you’ll get the deal, land the promotion, and break one more layer of the glass ceiling.

Own up to your mistakes

People are scared of making mistakes, but mistakes don’t actually define us. The way we handle the moments after a mistake is what truly shows the world what we’re made of. When you make a mistake, don’t bury it, ignore it, or blame someone else. Instead of running away, be proactive and own up to your mistake. Tell your supervisor and prove you will never let it happen again. Taking responsibility for your mishaps will show those you work with that you’re honorable, you’re responsible, and you care, which will earn their trust.

Know where you’re going

I’m continually surprised that most women don’t have their goals written down. If you don’t have a map, how do you know where you’re going? Not having written goals is a career killer, yet it’s simple enough to do. Think about what inspires and excites you, and write your goals down twice a day. I write my core career goals down every morning and every night, and that simple task often changes the course of my day. Writing your goals down is simple, but it can change everything.

Start and end your days with reminders of gratitude and goals

Our days are defined by how we start and finish them. If you begin your mornings with a negative attitude and focus on what could go wrong and what you don’t like, the entire day is over before it can get started. I have a routine that keeps my attitude in check and my actions focused, and I think it’s a huge part of why I have been successful. Before I get out of bed in the morning, I take a moment to list the things I am grateful for. I even give thanks in advance for great things I believe will happen that day. When I get up, I write down my goals to remind myself of the clear direction I want for my life. I repeat a similar process at night to ensure I’m continually grateful and living a life of intent. Mindfully focusing on gratitude and goals reminds you of what you have to be thankful for and what you have to look forward to, instantly uplifting your attitude and your power to work for those ideals.

About Deborah Gregory

Deborah Gregory, Esq., is cofounder of Gregory Law Group, PLLC, a Texas based boutique law firm specializing in tax representation as well as business and estate planning. After attending the South Texas College of Law and Boston University School of Law, Gregory launched her career at PricewaterhouseCoopers as an international tax associate. She then worked for the IRS for more than 10 years, becoming a senior attorney in the Office of Chief Counsel. Gregory cofounded Gregory Law Group in 2013 to specialize in domestic and international tax issues and assist with all phases of audit, litigation, and collection processes.

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Looking to get to the C-Suite? Here are six steps to career success

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Women-Cheering-featuredGuest Contributed by Morag Barret

Career paths can be unpredictable, peppered with pivot-points, and rife with opportunities that can make – or break – your trajectory. The path to the C-Suite isn’t a straight line, nor is it one you can coast along. If you aren’t scared just a little bit along the way, you probably aren’t moving fast enough or taking (informed) risks!

Getting to the C-Suite can be a daunting journey for even the most seasoned professionals. Hard work alone is not enough, and can actually keep you stuck at your current career level rather than catapult you forward.
If hard work isn’t the answer, how do you get to the C-Suite? I called several leaders that I know and respect for their advice. Here’s what they had to say:

Never stop learning

Pay attention to the leaders you admire and seek to understand what makes them stand out. “The biggest mistake a leader can make is to stop learning,” shared Rose Else-Mitchell, Executive Vice President at Houghton Mifflin Harcourt.

“Modeling continuous learning creates a culture that benefits everyone, encourages risk, innovation and self-responsibility.”

Seek out daily opportunities to learn and demonstrate your readiness for a promotion. Don’t wait for a bigger title to show others that you’re capable of operating at that next leadership level today.

Have a vision

“Hope” is not a strategy to adopt when it comes to managing your career. Whether your goal is to achieve the top job, move to a vice president role, or from manager to director, you need a plan — and to execute that plan!

“Make sure it’s your plan.” advises Barbara Dondiego, CMO at AVOXI. “If you choose to ‘Lean In,’ make sure you understand your reasons for doing so. Run towards the hard problems that others step away from. It’s the best preparation for the C-Suite you can ever have.”

Broaden your point of view

In the early stages of our career, we tend to have a narrow point of view, and be focused on our immediate function and area of expertise. Success in the C-Suite requires that you have a broad leadership point of view.

Susan Reynolds, former COO at Naviasys, recommends that you “be a business person who understands your business or profession. Focus on what matters to your company and know your stuff. Make your company profitable by contributing to the skills of your group, and be accountable for the failures, as well as the successes.”

As a CXO, you’ll need to understand the whole business: from finance to operations, technology to HR. Get involved and volunteer for cross-functional projects. If you’re not equipped to spend time in these parts of your organization, then take a class, study, seek out a mentor from across the company, and start talking the language of business.

Nurture professional relationships

“Success in your career is driven by the relationships you form,” says Judy Batenburg, SVP of IT Services at Starz. “Get to know your allies, those who can help you move forward, and also those who might hinder your success. Work to cultivate strong professional relationships.”

Relationships matter, especially when it comes to moving your career forward. Why? Because the senior roles aren’t (usually) filled as a result of a job advertisement or resumes submitted online. Before a senior role even hits the job market, conversations will have been held along the lines of, “Who do we know that could fill this role?” “Who do we want to invite to join our team?”

Make sure to cultivate your professional relationships now, so that your name is the first that is suggested. Your future career progression may depend on it!

Invest in your support network

Shannon Sisler, SVP of Talent Management Human Resources at Western Union, recognized that as she moved through her career, there were ever increasing personal and professional demands on her time. Having a strong support network is vital, and can include someone that takes care of the yard, more flexible child support, an awesome assistant at work, a personal trainer, and even someone that can ensure you get regular date nights with a partner. Shannon advises: “Don’t feel guilty asking for help… you can’t be everything to everyone. Invest your efforts in the personal and professional areas that matter most!”

Don’t watch the game. Play the Game.

As you climb the corporate ladder, you will encounter hurdles. You can either rail against the system and refuse to play – or, you can choose to learn the game, play the game, and ultimately change the game.

Simone Reynolds, Chief Human Resources Officer at Coalfire Systems Inc. advises “Be authentic! Don’t change to fit the mold instead stay within the guardrails and be authentically you. In doing so you build trust, and the ability to influence others in a multitude of ways. The best way to change things is to work the system not revolt against it.”

Your Steps to the C-Suite

There is no one path to reach the C-suite. This is your career journey to find and forge. You can either wing it and hope that your smarts land you your dream role, or you can be deliberate, thoughtful, and take control of the process. Experience has shown that the latter approach is more likely to result in a successful outcome. Only you can choose to invest the time in developing your self and demonstrating your leadership capabilities that set you up for success today — and for tomorrow.

Morag Barrett is the best-selling author of Cultivate: The Power of Winning Relationships and CEO of SkyeTeam, an international HR consulting and leadership development company. Morag’s experience ranges from senior executive coaching to developing leaders and teams across Europe, America and Asia. SkyeTeam works with clients in a range of industries including: Healthcare, Telecoms, Mining, Manufacturing, Engineering, and Technology. www.skyeteam.com

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LGBT Leadership Update: Rising Corporate Activism and Executive Pride

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LGBT flag featuredBy Aimee Hansen

With June, we turn to Pride Month on the diversity calendar, so let’s focus our spotlight to recent progress on advancing LGBT inclusive business cultures and LGBT executive leadership.

Corporate Activism Defends LGBT Rights

Recently, state law setbacks to the LGBT community (and human rights) have one positive side effect: they’ve led to a collective backlash from companies and employers who have united to defend LGBT rights.

Repeatedly, companies have been asserting to state lawmakers that upholding LGBT rights is a necessary condition for attracting and maintaining the best talent for businesses.

Since North Carolina passed an anti-discrimination law that failed to protect against discrimination based on sexual orientation or gender identity, over 200 business leaders – including CEOs and executives of major companies such as Apple, Bank of America, Citibank, Ernst & Young, Goldman Sachs, Facebook, IBM, Microsoft, and more – have signed an open letter to the state governor calling for a repeal to the “HB 2” law, stating that “such laws are bad for our employees and bad for business”.

Canceled plans by Paypal, Deutsche Bank and performance artists are estimated to have cost the state “tens of millions in dollars of losses”. Meanwhile, companies also joined in activism with an open letter to state leaders in Mississippi to repeal “HB 1523”, which gives individuals or organizations license to discriminate against LGBT people based on religious justification.

In the Harvard Business Review, author Andrew Winston points out that business has been ahead of the public curve when it comes to LGBT rights. Winston notes that over half of Fortune 500 companies were offering domestic partner benefits ten years ago when only 35% of Americans supported gay marriage (and 55% opposed it), and that today corporate adoption of anti-discrimination policies based on gender identity (66% of companies) outpaces public acceptance of transgender rights.

In the case of LGBT rights, Winston argues the moral imperative of non-discrimination in the workplace and the economic motivation to thrive with diverse customers are so understandably linked that business is “pro-actively influencing societal norms.”

LGBT Diversity Associated with Stock Performance

Influencing policy is part of the equation, but building an LGBT-inclusive culture is another thing. When LGBT employees do not feel free to be themselves, when they feel they have to “hide in plain sight”, it’s proven costly not only to employees but to business.

When diversity is celebrated and genuinely fostered, not only individual productivity but company productivity seems to benefit. According to a recent report by Credit Suisse, the stock of companies that exhibit LGBT diversity outperform the stock of companies that do not.

LGBT diversity was factored by companies that have openly LGBT leaders and senior management, are voted as leading LGBT employers, or have many employees in local LGBT business networks.

The LGBT basket of 270 companies outperformed the MSCI ACWI by 3% annually since 2010, as well as outperforming a custom basket of companies in US, Europe and Australia by 1.4% annually.

The correlation of LGBT diversity with performance is important, since according to the report, 72% of senior LGBT executives say they have not come out at work, which is not surprising when it’s still legal to fire someone based on sexual orientation in over twenty states and based on gender identity in over thirty states.

Celebrating LGBT Executive Role Models

Celebrating diversity at the very top, for the first time in the three years since its introduction, a woman topped the 2015 list of the 100 Most Powerful LGBT Executives in the World, named by OUTstanding and the Financial Times.

Inga Beale is the first female CEO of Lloyd’s of London and openly bi-sexual. As she told The Guardian, “It’s not about me. It’s about what you do for other people. For me, it’s so important because you need these role models.”

According to OUTstanding as reported in Entreprenuer, recognition is critical since closeted LGBT employees are 70% more likely to leave a company within the first three years.

The list of LGBT power executives, for which activism outside of the workplace is also taken into account, included several from the finance world, including Accenture’s Sander van‘t Noordende (10), Citi’s Bob Annibale (28), Goldman Sach’s Gavin Wills (36), and PwC’s Andy Woodfield (78) and Mark Gossington (82).

Speaking to the inclusive culture fostered at Accenture, Sander van’t Noordende has said, “Only when people are comfortable in their workplace will they be able to get the best out of themselves,” advising individuals to not only value their difference, but also find a company that values their difference too.

Promoting LGBT C-Suite Leadership

Stanford is also stepping up to encourage aspiring LGBT executives to value their difference. Stanford Graduate School of Business introduced the Stanford LGBT Executive Leadership Program, which will first take place in late July 2016 and is accepting applications until June 24th.

With a focus on fostering authentic and impactful senior LGBT leadership and network building, Stanford states, “This is the only Executive Education program of its kind offered by a leading business school to address the significant gap in leadership for lesbians, gay men, bisexuals, and transgender people in the C-suite.”

According to program co-director Tom Wurster, the one-week training is ideally aimed at “the LGBT executive with a minimum of 10 years professional experience and 5 years of management experience who is preparing to take on more significant leadership roles.”

More visible leadership within more significant leadership roles – out and proud and C-Suite is the call.

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