Tag Archive for: career advice

To work with M&A: Young Women Lawyers May Be Missing Out

female lawyers featuredBy Aimee Hansen

Women lawyers are underrepresented in M&A primarily because they are less likely to enter and stay in the field. But some M&A women partner lawyers wonder if young lawyers know what they are missing.

The gender gap in M&A

A study of more than 17,500 lawyers at 25 law firms nationwide found that women held 48 percent of first and second year associate positions (corporate: 43 percent, M&A: 40 percent) but only 18 percent of senior equity partner positions (corporate: 16 percent, M&A: 15 percent).

While a glaring gap in women between the associate level and equity partner level exists across law, the distinguishing M&A gap is at entry level. Female enrollment in M&A courses (37%) was also noticeably below enrollment overall (45%), showing that law students are disinclined to enter, and/or discouraged from entering, the lucrative practice of M&A.

The survey’s authors speculate that perceptions about M&A keep women out, such as being testosterone-fueled, more demanding, and not family-friendly.

Being a woman in M&A

Clare O’Brien, Partner at Shearman & Sterling, entered M&A as a third year associate only because the firm had a mandatory rotation policy back then.

“I actually didn’t really want to go to M&A because it had a reputation of being very ‘male’ …” says O’Brien. “That’s a cautionary tale, in the sense that if I’d had my druthers, I wouldn’t have chosen to rotate to the M&A team, but I was really glad that I did.”

M&A law is skewed male, and investment banks (with which M&A lawyers regularly interact) more so, but O’Brien says being a woman has not impeded her advancement.

“Nobody made me feel less competent or less able than any of my male colleagues. I got opportunities to do the same sort of work, the same level of responsibilities and the same exposure to clients as my male colleagues,” O’Brien shares. “From my point of view, my preconceptions were not, as a general matter, actually born out in practice. Maybe I was lucky to work with the people I did, or maybe the preconceptions are a little bit unfair.”

Here are some of the rewarding aspects of M&A that you may not know about:

Being central to people and process

“I think it’s one of the more interesting practice groups to be in, because in a transactional practice, M&A tends to be the hub, and so people who work on the M&A team are generally responsible for the transaction documents,” says O’Brien, “which means we get to solicit and receive input from other practice groups and then incorporate that input into the transaction documents.”

According to O’Brien, more exposure to the processes of client decision-making and multiple practices positions an M&A lawyer well if she or he decides to transition to an in-house or business position.

“You are more of a generalist than any other practice area,” says O’Brien, ”which, I think, makes you a better lawyer. And you generally have closer contact with the business people than people working in other practice areas.”

Learning on an on-going basis

“We have a very cross-border practice, so, at least in my work, you get confronted with different legal regimes and questions that you don’t know the answer to and have to find out, so you’re constantly learning,” says O’Brien. “That may be true of other practice areas, but my sense is that they are more jurisdiction-based than M&A.”

This growth opportunity includes the latitude to learn about M&A as you enter the field. Among a recent panel of six senior M&A women lawyers at BC Law, few had either interest or experience in finance during underground or law school.

Having satisfying work flow

M&A lawyers report that it’s gratifying to move through the finite deal-making process from beginning to end, and that a transaction-based practice offers a sense of completion.

“The work has a flow to it, which is satisfying in the sense that you get to work on a transaction, you get to understand at least some of what your client does, as well as the business that is the subject of the deal, you get to draft and negotiate the transaction documents, and get to a signing, and then a closing,” says O’Brien. “Each signing and closing represents a milestone, and therefore an accomplishment.”

In the panel, M&A lawyers also expressed that the hands-on immediacy of the work (as opposed to litigation on past damages) and tangibility make it rewarding.

Leveraging strategic and relationship-building skills

While M&A is more associated with masculinity, much of the skills required – collaboration, listening and consensus building – are more “stereotypically” feminine.

“I think you get to be a better listener, and to exercise diplomatic skills…What you’re trying to do is to find solutions instead of erecting roadblocks,” says O’Brien, “so you have to be creative and prepared to think outside of the box. You have to be able to listen to the other side’s concerns, why they don’t want to do what you want them to do, and then, where possible, find a compromise.”

“You can’t just pound the table and say ‘it’s my way or the highway’ because that often won’t work,” says O’Brien, “and your client won’t thank you for it because your client wants to get a deal done and wants somebody who can help it do that, rather than hinder that.”

When it comes to the broader benefit of women in deal-making, a recent study of S&P 1500 companies found that organizations with a higher proportion of women on the board pay less for both acquisitions (15.4 percent less for each female director) and takeovers (7.6 percent less for each female director).

What about the schedule?

Flexibility is increasing in firms and much can be done remotely during the valleys of work, but peaks are both exciting and intense. When signing or closing a deal, being in the same room for extended hours with the client and the other side is often still necessary.

“What can be hard is the unpredictability of your schedule,“ says O’Brien. “If your client wants to do a deal and it happens they want to do it over the weekend, you have to do it over the weekend.”

O’Brien emphasizes the importance of building up a support network you can rely on, and notes that M&A lawyers usually have the means to pay for that support. Also, finding flexibility, one senior M&A lawyer reports arranging her summers off with her kids.

“I think what you have to do is say OK, when I’m ready to have a family, I’m going to have a family,” says O’Brien. “If you’re waiting for the right time, there’s never going to be the right time, so you have to go ahead and do it when it’s right for you.” O’Brien’s own daughters are eleven and seventeen years old.

Is M&A for you?

Like any area of practice, M&A will not be for every women lawyer, but if you can get beyond the dissuading preconceptions, you may find yourself surprised.

“In my view, M&A is one of the most interesting, if not the most interesting practice area in corporate law, and the perceptions that women are less welcome, and are less successful, are overblown.” says Shearman & Sterling’s O’Brien. “If you decide that you want to pursue a corporate practice that is transactional, and if you’re interested in being intellectually challenged and interacting with people on a constant basis, you should seriously consider becoming an M&A lawyer.”

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Ask Yourself These Questions before Accepting That Job Offer

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Women-on-TabletHow exciting to get a new job offer! Perhaps you have been job searching for a while. Maybe you are relieved to finally secure a position that seems worthy of your talent and experience. After months of submitting resumes online and the seemingly never ending series of phone interviews that go nowhere, getting an offer is validation that you are still marketable.

Of course, our first impulse is to take the job. Yet, there are many things to consider when you receive a job offer at a new company. It’s common to focus first on the compensation and benefits package, the new title and responsibilities. We can get distracted by all this. But if you are ambitious and forward thinking, you also need to consider what the new company can offer YOU in terms of your long range career goals and potential advancement.

Here are some questions you should ask when evaluating a new company:

Are there women in senior executive roles?

One of the first things to look at is the organizational chart to determine if there currently are women in leadership roles. If there is some representation of women at a high level, where did these women come from? Were they promoted from within or recruited from the outside?

The answer to this question is important in order to determine if the company is invested in building a pipeline of women and committed to nurturing that pipeline to leadership roles.

Do senior women have P&L responsibility?

Many companies will boast that they have promoted women to assume leadership roles, but when you take a good look at the organizational chart you may discover that these positions do not come with any fiscal responsibility. In other words, the company may have gendered roles even at the senior level. A lack of female role models has been noted to be an obstacle for high achieving women.

Do women have power and influence?

What role do women play in the overall operations and strategy of the company? Do they have any involvement in setting the direction of the company? Are there women on the Board of Directors? Do women at all levels sit on committees that have a voice with senior management?

Does the company invest in developing women leaders?

Is there a women’s network? If so, is it supported by senior management? Does the initiative have a reasonable budget? The budget is a big clue! Many of these programs lack any financial support which most likely indicates the company is paying lip service to supporting the advancement of women. Very little can be accomplished without money or executive sponsorship.

Does the company have a program for high potentials?

If so, what is the representation of women in this program? Are the criteria for inclusion in the program clearly defined? Are women moving to leadership positions once enrolled in this initiative?

Does the company have a formal sponsorship program?

Once again, it’s important to determine if women are included in sponsorship programs because these programs provide the type of advocacy and support that lead to promotions. What is the result of their sponsorship? If there isn’t a formal program, are women being sponsored or are they stuck in the mentorship trap? Speak with HR to determine if sponsorship for high potential women is recognized as important and actively promoted with senior leadership support.

Does the culture of the company align with your values?

This question is perhaps the most important one of all. Does the overall culture of the organization align with your core values and your ambition? The culture can support you or stifle you and unless you take the time to meet with people and ask questions, it is extremely difficult to see what’s happening behind the scenes.

You can determine quite easily if there are flexible work options and other policies that are important to your ongoing success by looking at the employee handbook or consulting with human resources. Answering these questions will certainly help you to determine if the company is supportive of high achieving women and working mothers.

But on a very basic level, you should answer this question for yourself: What type of culture will best support my ambition? If you want to create visibility and credibility for yourself, are you more likely to succeed in a hierarchical structure or a consensus driven organization, a conservative or cutting edge culture? Where will you be able to voice your opinion and make a difference?

Every company has its unique culture and it’s dangerous to stereotype based on the industry; all the more reason to take the time to figure out if the organization aligns with who you are, how you like to work, and where you want to go with your career.

The bottom line here is that our eagerness to take a job offer in a new company may seem like the best move to make. But before you accept the offer, consider whether or not the company is the right company for YOU.

Bonnie Marcus, M.Ed., is the President of Women’s Success Coaching, where she helps professional women advance their careers. She is the author of THE POLITICS OF PROMOTION: How High-Achieving Women Get Ahead and Stay Ahead (Wiley).

Guest contributed by Bonnie Marcus

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Mentee to Mentor: Enhancing your Career through Diverse Perspectives

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Guest contributed by Financial Women of San Francisco Board Member Shelby Duncan

A few years ago , I discovered the Financial Women of San Francisco (FWSF), a community of women who work in financial services and are dedicated to advancing the careers of women.

After learning about the organization and the importance of their mission, I applied for a scholarship and was fortunate enough to become a recipient. Not only did I receive financial support, but I was given the opportunity to work with a mentor. I had been fortunate enough to have informal mentors throughout my college career, but was extremely fortunate to be given three women from FWSF, all in varying stages in their careers, lives, and outlooks, to support me as formal mentors as I stepped into the corporate world for the first time. The wealth of knowledge and combined experience that they were able to share taught me an insightful and valuable lesson – the greater my mentorship network, the more I could learn and subsequently contribute to my community.

Image via Shutterstock

Image via Shutterstock

I applied this knowledge as I began my career – identifying mentors, creating partnerships across my organization, and directly expanding my network by asking for further referrals. I built mentoring relationships with C-Suite men with 30 years of corporate experience, senior women of color seeking to innovate within financial services, and hard-working software developers beginning their careers in the United States having transitioned from careers in India. In building these relationships across a diverse community of people I have been able to see life through many lenses and have benefited from others’ knowledge, intelligence, innovative thinking, and in some cases, their mistakes. The diversity of their perspectives has allowed me the freedom to be more creative and identify solutions to complex problems. The balance in the advice I have received has made me confident that I am being steered in the right direction by the leaders in my life.

For several years now, I have continued to foster my relationships and identify new mentors. As I have progressed in my career, I have had the opportunity to be a mentor myself and have enjoyed helping mentees as they strive to create and meet new career goals.

Here are my steadfast tips and tricks for being a successful mentee:

1. Give back to your mentor – Ask yourself, “What can I do for my mentor?” Mentors set aside time, share contacts and other resources in support of your growth. It’s imperative to identify opportunities to give back and support your mentor. This can come in the form of supporting an organization they are part of, for example volunteering time; supporting them at a speaking engagement by sharing the event with your network and introducing them to people you know; or introducing them to one of your other mentors.

Oftentimes, mentees believe they don’t have much to offer their mentor based on their age or level of experience – but that is not the case! Time, energy, and a fresh perspective are important resources to share with your mentor.

2. Seek diverse mentorships – Leverage your network to identify diverse mentors. Look across industries, levels of experience, age, gender, and ethnicity to cultivate a well-balanced outlook.

3. Maintain the relationship – Building relationships is easy, but maintaining them requires thoughtfulness and time. Be sure to establish a plan with your mentor to determine how often they would like to meet, a location that is convenient for them, and always be willing to treat for coffee or lunch. Ask thoughtful questions about their work, and frame questions that ask for advice. Get to know them, as they are investing their time in getting to know you!

Mentorships are invaluable relationships that are imperative to growing, maintaining and propelling your career. I know that my successes are not solely my own, but a function of the leaders who support me. With that, I encourage you to reflect on the mentors in your life, identify opportunities to gain new mentors, and consider becoming a mentor yourself.

I recently read an amazing book called “We Should All Be Feminists” and here the Nigerian author Chimamanda Ngozi Adichie (LINK PLEASE TO BOOK) states,
“Today, we live in a vastly different world. The person more qualified to lead is not the physically stronger person. It is the more intelligent, the more knowledgeable, the more creative, more innovative. And there are no hormones for those attributes.”

We Should All Be Feminists, to me, is one of the most critically important works I have read. Written by an immensely insightful and accomplished author, Chimamanda Ngozi Adichie, deeply inspires me as her work is centered on the empowerment of women and their use of community as a tool to reach their objectives. She acknowledges that the collective is more powerful than the individual and that diversity – in gender, ethnicity, culture, and age – are some of societies’ greatest assets. I couldn’t agree more.

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One Simple Step to Bust Out of Your Career Rut

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Sad businesswomanGuest contributed by Elizabeth Crook

There’s an epidemic in our country that’s impacting 40% of our population.

It’s lowering our immune systems, disturbing our sleep, breaking up our relationships, and creating depression and unwanted weight gain.

The epidemic seems very benign – it’s so common we often ignore it.

It’s called job dissatisfaction.

Historically there been more heart attacks on Monday morning than any other time of the week because so many of us are dragging ourselves to jobs that have depleted us. And even though the research was probably done on men, the implications for women are profound. Having the “wrong” job is not good for you.

Why do we stay?

Three simple reasons:

  • We are good at these jobs,
  • We may be too busy or too conscientious to recognize how stuck we are
  • We don’t know how to leave them.

We’ve been given accolades and compliments all our lives for what we do. We may be keeping our families afloat with these jobs. Our work may serve our social life or give us a strong sense of identity. We feel responsible to our team, our boss, or the company

Along with all that, we tend to see other options as more limited than they really are. We may even believe the industry or functional area the only ones we can be in, so we stay. And stay. And stay. Until our health is bankrupt, our relationships are compromised, and our dream of what we wanted has been lost.

Sound familiar? Don’t despair.

As a CEO coach and corporate strategist, many people from diverse arenas come to me because they want more than anything to love their work, but they don’t know how to get there.

Enter the energize/deplete paradigm.

In your everyday work, you encounter tasks that energize you and work that depletes you. Most people have don’t spend time thinking about it. However, identifying them is the is a big step toward getting to work that feeds your soul (and your bank account).

The first question to ask is: What do I know how to do?

Make a list. Brainstorm. Don’t hold back. Write down all those things you know how to do – think processes, not contents. This can include things beyond your work like your family or social life or even volunteer assignments. This isn’t your job description. This is what you know how to do.

The start of your list might look something like this:

  • Engage people in solving problems
  • Analyze data
  • Create narratives that give meaning
  • Recruit and hire people
  • Develop budgets
  • Manage projects
  • Manage people
  • Teach and mentor
  • Persuade
  • Sell ideas
  • Develop systems and processes
Identify the energizing activities.

Make a star next to the activities on your list that energize you – those things that even if your are working hard at them, you feel good doing them. Time passes in a minute when you are doing things that energize you, even if they take all day.

Do you feel depleted by managing people but are in a managerial position? Do you feel energized by being with people, but your work is behind an admin desk where you never get to interact? Are you energized by being creative, but your work is about collecting data?

Your starred activities are signposts, leading you to work that will feed your soul and make you feel like you are living large.

Your work now is to begin to increase the activities that energize you.

Shift your focus.

This may mean delegating the work that depletes you (anything that is not energizing you may very well be depleting you) or talking to your boss about shifting your focus at work towards what energizes you.

What if this list shows that nothing you do at work energizes you? What if all of your energizing how-tos are ones that you do out of work?

That’s fantastic information. And it might mean an overhaul of what you do for work. Chances are you can stay in your industry, but you may have to change what you do in this industry.

The Amazing Result.

What’s amazing about this simple exercise is that it activates something called the reticular activating system in the brain. The reticular activating system is the part of our brain that begins to notice red cars right when we decide we want a red car. Once we become aware of what energizes us, our subconscious begins to move us toward it.

As soon as we identify what depletes us, our defense system will begin to find ways to move away from those activities.We find ourselves making decisions about work that lead us toward those activities that we love.

Can it really be this simple?

Try it. See what happens.

Elizabeth Crook has been the CEO of Orchard Advisors for over 20 years, helping CEO’s grow their bottom line and have more fun. She believes that if everyone had the work and life they love, we could change the world! Her book, Live Large – The Achiever’s Guide to What’s Next will be released May 2017.

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

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Developing Mental Complexity Will Help You at Work (and Life)

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woman thinking - pipelineBy Nicki Gilmour, Executive Coach and Organizational Psychologist

The world is increasingly complex and can be quite confusing these days.

How do you ensure you have the guts, glory, stamina and agility to survive all this change?

Mental complexity is the answer according Harvard psychologists Robert Kegan and Lisa Laskow Lahey in their book “Immunity to change”. This is my personal favorite book right now for two reasons; I am writing a paper on behavioral change and also am grateful for the change I have personally experienced from committing to examining paradigms that no longer serve me.

This work can take the guise of coaching but touches on all aspects of your existence and is a vehicle for a happy sustainable life in my opinion.

Kegan and Lahey talk about how we tend to be in one of 3 “minds” or mindsets when it comes to our mental complexity levels and this has nothing to do with IQ.

So, level one is a “socialized mind” and is where the majority of people operate. Certainly, junior and middle managers can be successful here as part of being here requires following, caring what people think of you and generally towing the line be it within a corporation, culture or even a religion. People here are good team players. But, what does one lose by seeing life though this lens? If you do not fit with what the norm is, you might find yourself feeling inadequate and uncomfortable or undeserving in some way.

At work, you may be at the mercy of the effects of politics and feeling not aligned (and in society too). You will fight yourself to get aligned and reduce your cognitive dissonance. At what cost?

The next “mind” is the “Self-authoring” mind which with this increased mental complexity, you can relegate others opinions (and even your own opinions) to an appropriate place where they can be referenced within a bigger system than your own direct value set. Therefore, outliers from yourself and others will not consume you, and instead give you the power to bed the author of our own reality. You get to direct the movie in your head.

I can personally attest when I stared to think with this self-authoring mindset it was growth. It changed my life and I see it work well for my coaching clients and when (if) they get there then I can honestly say the ball is in their court which usually results in happier choices and happiness with choices made as well as robust future decision making ability.

This is particularly good for people who have set high standards for themselves or seek approval from others. This level of processing information will move you from having subjective feelings and suffering the emotional fallout from them to seeing things more objectively and in perspective.

By learning to look at as well as through certain lenses, you can evolve and as Kegan and Lahey put it “not be forever captive of one’s own theory, system, script, framework or ideology”. Then, you can start to be in the zone of the “Self-transforming mind” where expansiveness around what you see and hear at work is not uniquely filtered to meet your informational needs. In plain English, you can make meaning on a big picture level and not feel the anxiety around how it effects you which if you are in the socialized mind, will trigger you and make you take it personally. You can care and not be consumed by caring. Doesn’t that sound amazing?

So, how do you build mental complexity to thrive at work and in a crazy world? Tune in next week to find out more….

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Does Hollywood’s failure to pass the Bechdel test have a negative effect on the workplace?

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hollywood-signGuest contributed by Beth Leslie

When critiquing the feminist credentials of a film, a good place to start is the Bechdel Test. To pass, a movie must fulfil three simple criteria: It has two named female characters, who talk to each other about something other than a man. Just under half of all films fail.

For comparison, when IMD compiled a list of films that botched the “Reverse-Bechdel Test” they managed to think of four.

Of course, blatant sexism in any aspect of life is distressing in and of itself. But media is influential. How much of an impact does a lack of female investment bankers, superheroes and whip-wielding archaeologists have on the career aspirations of real-life women?

Movies Influence Us

Movies matter. Study after study shows how the film industry can shape and influence politics, constructions of cultural identity and social change. How on-screen women are portrayed, therefore, affects real-life ideas about real-life women.

The Bechdel Test highlights the industry’s shortcomings in this regard: on-screen, women appear half as much as men and speak significantly less than them. They are rarely the lead or even co-lead, and they are over-sexualised and disproportionately young.

Over and over again, therefore, we watch men being dominant and women being marginalised. The idea becomes cemented in our mind, so that when we actually experience men disproportionately directing discussions or taking on positions of responsibility we accept it the norm.

We learn to associate masculinity with leadership and women with “sexy lamps”. When it comes to hiring and promotion decisions, we are already primed to see men as influencers, winners and go-getters. We want our high-fliers to be heroes, so we compare candidates against our established notions of what a hero looks like.

We see quintessential ‘good guys’ – the James Bonds, the Tony Starks – repeatedly sexualise the women they work with and think that such behaviour is acceptable. We search for examples of heroines who are over thirty-five or intellectually superior and, finding none, disparage experience and intellect as valid indicators of a women’s worth.

Women Don’t Work in Films

Work and the workplace is often represented in films, and it is usually depicted as an unrealistically masculine space. Male characters are notably more likely to have an identifiable job than female characters. They are also substantially more likely to occupy senior roles – women make up just 3% of fictional C-Suite executives. Of the 129 influential family films identified by the above study, not one showed a female character at the top of the financial, legal, journalism or political sector. (In contrast, there were 45 depictions of powerful male politicians alone.)

Gender stereotypes are endemic in film. In the hospital wards of Hollywood, 89% of nurses are women but only 10% of doctors are. The number of female engineers, soldiers, and officials is so low as to almost be negligible. The suggestion is therefore that women aren’t workers, and they certainly aren’t successful workers. By associating career progression so strongly with men, the movie industry depicts working itself is a “masculine” trait. Considering we learn about the world through media, this is disturbing.

Of course, women are underrepresented in senior positions and masculine professions, but not to the extent they are on-screen. This suggests that Hollywood is not so much reflecting reality as reflecting a conception of reality where different genders conform to markedly different life paths. By exaggerating existing stereotypes, it amplifies the pressure to conform to said stereotypes.

We Are Limited by Our Expectations

We grow up watching TV, and it influences our dreams and ambitions. Little girls seem particularly susceptible to emulating the actresses they see on screen – one study found that admiring a star whose characters’ smoke vastly increases the risk of becoming a smoker. Such admiration is particularly problematic if many of the characters we identify with are deficient in ambition and career success.

We cannot be what we cannot see, and the lack of professional representations of women, particularly in the boardroom or STEM industries, makes it harder for young women to conceptualise themselves as such figures. Movies show girls a version of happiness which involves playing the sidekick of a successful man, so women who want to be happy learn to copy this formula. Movies show young girls visions of themselves as pretty PAs or charming caregivers, and suggest that this is what women should be.

There is a solution: put more women in the film industry. When women create films, they invariably pass the Bechdel Test (and other measures of gender equality) with flying colours. Unfortunately, sexism has worked its wrecking hand here too: just 7% of directors, 20% of writers and 23% of producers are women.

Beth Leslie writes graduate careers advice for Inspiring Interns, a recruitment agency which specialises in matching candidates to their dream internship. Check out their graduate jobs London listings for roles, or if you’re looking to hire an intern, have a look at their innovative Video CVs.

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

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The Gender Pay Gap

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This month we celebrate Equal Pay Day. Take a look at these informative Pay Gap articles previously published on theglasshammer.

This week we hit “Equal Pay Day” on Tuesday, a day which symbolizes the extra days women must work to make the same salary as her male peers did last year. According to the Demystifying The Gender Pay Gap survey by Glassdoor, the biggest myth about the gender pay gap is that it doesn’t exist at all, as 7 in 10 employees across seven countries assumed men and women received the same pay for the same work. But even when narrowed down to an apples-to-apples comparison within companies, researchers found a significant gender gap exists.

Closing the investment gap for women as well as the better- documented pay gap needs to happen. What is the investment gap? And why are most women, even highly paid professional women still missing out? Sallie Krawcheck just wrote a post about the cost of not realizing what we are missing financially by not investing properly on LinkedIn.

money money moneyYou don’t need to work in a male dominated occupation to find your pay check weighs light relative to your male colleagues – particularly, if you’re in business.

In March 2015, the US Census Bureau released the latest pay statistics from 2013, including median earnings by detailed occupation, showing that full-time working women earn 78.8% of what full-time working men do. The census data revealed that across 342 occupations, women (barely) out-earn men in only nine.

Narrow the Hidden Executive Pay Gap Starting Now

Woman-on-a-ladder-searchingWomen reaching for the top rungs of the executive ladder will want to watch for the hidden pay gap. As Bloomberg writes, “Even top female workers can’t catch a break when it comes to pay inequality.”

As women move to senior ranks, the gender pay gap widens. Your best career management play? Begin closing it now.

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The Juggle: 3 Tips to Get Stuff Off Your Plate

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 By Nicki Gilmour, Executive Coach and Organizational Pyschologist

juggle

Image via Shutterstock

Unless you are a fully fledged workaholic ( I used to be one and I know many), you may want to work a little less and do a little more of just about everything else. With the exception of chores which are few people’s idea of fun.

So, how it is possible to live and love in an urban place, give it your all and maybe just maybe have time for other areas of your life, be it having children or not having children. I say that with caution as people get derailed quickly and fall into 2 camps when it isn’t about that division it is about the unification of the truth that we all do work more than ever.

Here are my three tips to get you closer to nirvana.

TIP 1: What tasks at work are non crucial and can be delegated, dumped or reframed to matter more strategically and therefore become worth doing?

TIP 2: How can you break cultural norms in a ‘face time” environment to show that results orientated work and productivity are winners?

TIP 3: At home, what life hacks can you apply to boring admin and chores to outsource or reduce them? Get a system or actual people involved to help you free up your time to live the dream. If you feel your other half needs to do more, tell me what they need to do and when as maybe they just do not know?

Most importantly, it is worth your while to step out of the weeds and look at the big picture – what do you want personally and professionally to happen in the next 24 -36 months?

Best of Luck

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Responsibility – Tick, But Resource Control is Zero

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Slowing downBy Nicki Gilmour, Executive Coach and Organizational Psychologist

A bad work day can consist of a scenario when you do not manage the team but are on the hook for delivery of the product. Sound familiar? Literally, this happens everyday to many people and it is a problem that creates issues and looks like a lack of skill and efficiency because team A promised the client something but they had no control over team B actually building the product.

Would you take the responsibility of protecting the free world, if you were not allowed the nuclear codes? Most of you will say no to this yet I see so many people taking on outrageous projects and knowingly being on the hook for things that they literally have zero control over the delivery of. How can you avoid this seemingly inevitable situation?

A good case in point is diversity work.

I see a lot of great women heading up women’s networks and being tasked with creating a bigger pipeline of women in the firm. Unless you have serious formal hiring capabilities as your new day job or the ability and full power to rework all the talent processes in the firm plus all the time in the world and renumeration to do it, then why would you say yes to this? From a transformative outcome frame, you should say no since this has no resource or execution control attached to it.

Unless, the goal is advocacy in which case that is fair enough as advocacy is important but rarely formally transformative. Advocacy is what men do every single day for each other so getting them to do it for you is a strong step in the right direction as is getting women to stop burying each other to protect the patriarchy (which runs deep as we know in recent times).

Also, really good development that understands the nuances of being different to the blueprint is never wasted- train and educate as you go in these networks if formally this is not an option (arguably it should de organized and paid for elsewhere but it is often not the case). A network can be a good container to supply unique content to certain audiences who potentially face shared challenges that are systemic in nature.

Remember, only you know what you want to spend time and energy on and how to create goals that are reachable. It is worth thinking about activity versus productivity and outcomes since you all have lives and goals inside and outside of work. Reduce stress by aligning your responsibility and authority on tasks that become the sum of your job!

If you are interested in hiring an Executive Coach to help you navigate your career then email Nicki@glasshammer2.wpengine.com for further informatiom

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Want to Win in the Fight For Female Talent? Urgent Change Needed!

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Contributed by Aoife Flood. Based in Dublin, Ireland, Aoife is Senior Manager of the Global Diversity and Inclusion Programme at PricewaterhouseCoopers International Limitedaoife flood featured

Around the world, the workplace gender gap is an area in need of immediate and serious attention and at PwC we believe that we must, and can, drive change more quickly.

The good news is we’re seeing a tidal wave of organisations across the world inject greater urgency into their efforts to tackle gender imbalances, in fact 87% of CEOs globally told us they are actively focused on talent diversity and inclusion. The bad news is we are still decades away from achieving gender parity in the corporate world, and in most countries in the world women still remain underrepresented at every level in the corporate pipeline.

One lever that organisations across the world can leverage to incite more rapid change is their attraction and selection efforts. To create energy and debate in this area I had the privilege of leading a ground-breaking global research study focused on gender inclusive recruitment. And I’m very excited to share that we released the results of this research in PwC’s Winning the fight for female talent report in honour of International Women’s Day.

Female hires in hot demand

The report makes one thing clear, explicit hiring targets have emerged as a core driver of change, in fact 78% of large organisations told us they are actively seeking to hire more women – especially into more experienced and senior level positions. As organisations fight to attract female talent – particularly at levels and in sectors where they’re currently underrepresented – we’re now seeing competition for female talent escalate to a whole new level.

Yet, 30% of women globally said they feel employers are too biased in favour of men when it comes to attracting talent, compared with 13% of men. This is a number that has been on the rise when we consider specifically women from the millennial generation; 16% of female millennials felt this way in 2011, 25% in 2015 and 28% feel this way today.

There is also a clear mismatch between the views of women and employers regarding the barriers limiting greater levels of female recruitment. Of the top five barriers employers identify, four explicitly point to external factors, such as the lack of a sufficient candidate pool (37%) and our industry sector not being viewed as attractive by women (24%). While of the top five barriers identified by women, four explicitly point to internal systemic challenges within employer attraction and selection activities and processes. For example, the impact of gender stereotypes in the recruitment process (45%) and concerns over cost and impact of maternity leave (42%).

Focus on gender inclusive recruitment is critical

Simply focusing on hiring more women, will not be sufficient. Yes, organisations will need to get really good at knowing where to find and how to attract female talent, but that’s not all. They also need to look inside, and transform the objectivity of their own recruitment and selection process and activities if they are to succeed in fostering fair and equal recruitment. And female talent today have their finger firmly on the diversity pulse, 56% of women – rising to 63% for women who are starting out on their careers – said they look to see if an organisation has made progress on diversity when deciding whether or not to work for them. Furthermore, when deciding to accept their most recent position, 61% of women looked at the diversity of the employers leadership team and 67% explored if the employer had positive role models they felt where similar to themselves.

Opportunities for career progression – yes please

Opportunities for career progression, competitive pay, and a culture of flexibility and work-life balance come out as the three most attractive employer traits for men and women overall. Women starting their careers, and female millennials (born 1980-1995) rank opportunities for career progression as their most attractive employer trait. While women with career experience who have recently changed jobs say a lack of opportunities for career progression is the top reason they left their former employer.

Traditional stereotypes associated with gender or life stage, for example, the over association of career ambition with men, and flexibility and work-life balance demands with women, specifically mothers, are well and truly out of date. To be a magnet to the modern talent pool, organisations must equip themselves to offer opportunities for career progression, a culture of flexibility, and competitive pay as workforce-wide realities for all their talent. And to attract the best and brightest male and female talent, they must also make these an integral part of their talent brands and talent systems.

In today’s highly competitive job market, it is incumbent on every organisation to revisit its policies and processes to make sure they are meeting the needs of the modern workforce, in particular the woman of today who is truly a trailblazer. Women today are looking for much more from their careers than previous generations – and organisations need to keep up if they are to secure the talent they need to grow their business.

We invite you to find out more by visiting www.pwc.com/femaletalent.

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