Tag Archive for: diversity

Voice Of Experience: Amanda Segal, Partner, Katten Muchin Rosenman LLP

Amanda Segal
There’s no set path to success, says Amanda Segal, head of Katten’s Distressed Debt and Claims Trading practice.

“Everyone’s professional journey is different, and for a planner—as many attorneys are—it can feel unsettling when the road starts to twist and turn. But one of the best things you can do is be flexible, patient, and let your trajectory develop organically.”

When Segal started her career, she thought she would progress up the ladder as a bankruptcy litigator, but her career path took a different course as dynamics in the financial market helped steer her towards attractive new opportunities. “You will be better equipped as a professional if you are open-minded and able to adapt to the evolving needs and priorities of your clients and employers.”

Building a Career Unique to Her

For Segal, that approach has led her to a successful career. After law school, she joined Kramer Levin Naftalis & Frankel LLP as a bankruptcy associate. Three years later, with the financial crisis looming, she saw an opportunity to parlay her experience into a more transactional practice in the area of distressed debt at Richards Kibbe & Orbe LLP. She spent ten years at the firm, where she secured the requisite expertise and experience to make the move a little over a year ago to head Katten’s Distressed Debt and Claims Trading practice.

At Katten, she leads a team of attorneys advising clients through the acquisition and sale of distressed assets, including trade claims against bankruptcy estates, litigation claims, bank loans, and a variety of other investments. Her team—well versed and deeply immersed in financial services—works with related practice areas, including bankruptcy, commercial finance, tax, private equity and more, to provide the firm’s clients with tailored legal advice and transactional support in a wide range of circumstances. Segal believes this will be increasingly important as volatility in the financial market continues to rise.

“Because our practice integrates the talents of so many dedicated attorneys and professionals across the firm, we have the unique ability to look at large bankruptcy cases across multiple sectors. This will enable us to offer ‘big picture’ guidance as our clients navigate the next distressed cycle.”

For attorneys just starting their career, Segal highlights the importance of being empathetic to clients and colleagues. “When you are able to put yourself in someone else’s shoes and view an issue from multiple perspectives, it helps make you a more relatable professional and leader and, ultimately, a more effective advocate.”

She also advises young attorneys to “play the long game.” “Surround yourself with trusted advisors and mentors; use every occasion to network, and work hard to maintain and build upon relationships. Over time, those relationships will provide the backbone for a more productive and fulfilling career.”

Finding Balance in the Workplace

Segal points out that even though law firms have become far more open and accepting of work/life balance, there is no one-size-fits-all solution. “Every woman’s professional and personal needs are different, so there’s no formula. Each woman must determine what works best for her and her family—sometimes simply through trial and error. The end result won’t look the same for everyone.”

Katten hosts a Women’s Leadership Forum that she has found valuable for building relationships across the firm, and also provides skill building, internal and external networking, mentorship and professional development. “Katten has consistently been recognized as a top firm for women, which I have been fortunate to experience first-hand,” she says.

With five-year-old twin daughters, Segal prioritizes a balance between work and family time, running marathons and maintaining a healthy lifestyle, and cheering on the basketball team of her alma mater, Duke University.

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An Updated Look at Risk Taking for Professional Women

woman typing on a laptop

A new report by KPMG for 2019 called “Risk, Resilience, Reward- Mastering the 3 Rs: The Key to Women’s Success in the Workplace” suggests that women are still cautious when it comes to risk taking in their careers with 69% of report respondents saying they are are open to taking small risks to further their career, but a lower number (43%) revealing that they are open to taking bigger risks that may be associated with career advancement.

Just 8 percent of respondents say risk taking has contributed most to their professional success, crediting task-oriented factors over leadership traits. Instead, women attributed success to good habits such as working hard (73 percent), being detail oriented (45 percent), and organized (45 percent) to their success. Other highlights from the report suggest that women are willing to take risks to ask for new assignments and projects (69%) but less keen to ask for more salary if they deem it to be risky or moving locations for a job (both 35% respectively).

Risk studies that are available on the topic and that we have written about over the years are inconclusive since there are many factors to risk taking, including personality, environment and what is perceived as risky by the taker or even by the system.

However, KPMG’s research is mostly consistent with trends that show women are not as confident as men when it comes to risk taking, including how women think about risk. Research also shows that in some cases, women are more concerned about risk and the impact on a group than men and feel more accountable for the implications of the riskier decision. There are so many factors that correlate and cause women to not want to take risks as well as societal and organizational eroders of even the most confident woman over time, not least the double bind of being “Damned if you do, Doomed if you don’t”. So, knowing all this and still being undaunted, we caught up with Michele Meyer-Shipp, KPMG’s Chief Diversity Officer to discuss this report’s trends and actions for women and men to take in light of the findings.

Nicki (NG): What parts of the report resonated with you personally or otherwise?

Michele (MMS): This report really spoke to me, as throughout my own career I’ve definitely been hesitant at times to take risks. Like the respondents in the report, I thought ‘if I just work hard, everything will happen for me’. It was all about working hard. That’s what I was taught growing up and I truly believed that was all there was to it. It was never ‘go forth and ask for what you want’ – I had to figure that out along the way.

NG: What advice do you have for women regarding risk taking?

MMS: We have to take ownership of our careers, we have to speak up and ask for what we want, and navigate the politics along the way. Don’t assume someone is going to hand you the next job just because you’re working hard; it just doesn’t work that way. Engage your board of mentors, and identify those who are sponsoring you. Your mentors are the people you choose to give you career advice. Your sponsors are the leaders who are advocating for your career. Both are incredibly important.

NG: What role does the organization have in helping women who do take risks?

MMS: Organizations have a huge role to play in helping women who take risks. First and foremost, they must make it clear that risk taking is a welcomed and valued leadership trait. This message has to come not only from the very top of the organization, but also from a woman’s immediate supervisor. From there, when a woman does take that risk, the company must support her in those efforts. For example, a risky new role requires the woman assuming that role to have the support she needs to get the job done. Does she have the right team, the right budgetary support, and so on. These are all factors an organization must consider.

NG: Since most leaders are still men, what role do men have in this?

MMS: Men need to “lean in” and support women on their teams. Some men have hit the snooze button in the wake of the #MeToo movement out of fear and uncertainty, but this is not a moment to sit on the sidelines. It is a great time to decide who we are and what we stand for and to be intentional about it. Whether you are a man or a woman, my advice is to proactively support each other, mentor each other, partner on teams together and advocate for one another. We must ‘assume good intent, until you see otherwise’ as it is a two-way street.

Men must also beware of their unconscious biases as related to women. Let’s face it, if you have a brain, you have a bias. It’s human nature. That said, men need to interrupt stereotypical assumptions they may make about women as that can inevitably lead them to make a bad decision.

NG: What surprised you about the findings in the report?

MMS: I found it really interesting that money remains the top motivator for risk taking. It runs counter to a lot of research and I kind of like that it debunks the notion we are so different. If 40% of women who responded said that they would take risks when there is an opportunity to make more money, then we know that along with the finding that 70% of women tend to be very resilient even in the face of failure, then I have great reason to remain optimistic that we will continue to see women taking smart risks that bring long term rewards.

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Important Conversations at Work: Improving Communication Across Differences

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Guest contributed by Katherine Giscombe

At this contentious time in the United States, the rights of all women are under fire.

In spite of movements against sexual harassment that are gaining in popularity and support, such as #MeToo and TimesUp, there are factions within the country including lawmakers who actively oppose equal, fair and just treatment for women. And there has been an uptick in violence and harassment directed against racial minority groups, which have been condoned, and even spurred, by those in high political offices.

Boundaries between our work and personal lives continue to blur given the increasingly 24-hour a day expectations of employers, greater levels of virtual work, and increased workloads across industries. It becomes more difficult, over time, to not bring concerns about our lives outside of work into the workplace. The context of our lives affects our well-being and experiences at work, as shown in Catalyst’s research on the Emotional Tax, which demonstrates that a majority of women and men across racial/ethnic minority groups report feeling vigilant or on guard in the workplace, constantly preparing for the potential to deal with bias, discrimination, or exclusion.

It is vital for employees and associates to be able to engage with each other in a healthy manner, and develop mutual understanding even when they do not share similar backgrounds or experiences. Further, in the workplace, as research on career progression has shown, it is essential to develop relationships with allies and potential sponsors who can help progress one’s career. But doing so can be difficult among those from different backgrounds.

Catalyst has developed methods for reaching across differences to form meaningful connections at a personal level. It starts with understanding how communication among employees and associates can improve, and providing tactics to do so. In summary, reluctance to engaging across differences can fall into three major themes:

  • There isn’t a problem (attitudes about whether issues of gender, race, and ethnicity warrant concern)
  • There’s no benefit to talking (judgments about whether it’s worth the effort to discuss these issues)
  • There will be negative consequences to my actions (experiences that influence whether someone speaks up or remains silent).

Those who feel that there is not a problem may assume that race or gender differences don’t matter, because they believe they view women and men equally, and have no racial prejudice. A way to move beyond these beliefs is to ask one’s colleagues (of a diversity of genders and race/ethnicity groups) if they have ever experienced or witnessed biased behavior, and probe on what it looked like, what was verbally communicated. Further, they can ask whether colleagues of a different racial, ethnic, or cultural background feel that the workplace respects their identity and experiences.

Those who believe there is no benefit in talking may feel that race and ethnicity are not relevant in certain places, or that talking about our differences can only further divide us. Catalyst recommends asking colleagues a number of questions, including identifying times when discussing any type of difference has led to a positive outcome. Another suggestion is to identify “off-limits” issues— then discuss how not talking about these issues can derail inclusion.

Finally, the fear that there will be negative consequences to my actions is sometimes grounded in the fear of being labeled as overly sensitive, or the belief that it is not safe to speak up in the workplace. In these cases, Catalyst recommends that an employee ask a colleague for help in providing honest, constructive feedback, especially in cases where the employee uses words that are hurtful or offensive. Other advice includes asking a team member who has been silent during a meeting if he or she would like to contribute a different perspective.

In Catalyst’s workshops and consulting engagements, we sometimes use “ice breaker” exercises that build rapport across differences. One such example is a “pair share” in which each member of the pair names three identity groups he or she belongs to, including two visible elements of difference, and one invisible. Each person then takes turns sharing aspects of their identities. When sharing one’s identities, the speaker practices demonstrating vulnerability and self-disclosure. The listener, in turn, practices suspending judgment and inquiring across difference.

Going beyond building interpersonal connections at work, employees and associates can also co-create structures at work that encourage inclusion. This might entail forming an employee or associate resource group (ERG) for all women in the organization, that focuses on the many needs encompassed by women. In working with Catalyst’s supporter organizations, we sometimes see that women of color prefer to join an ERG that represents their racial/ethnic group, rather than the women’s groups. A good way to form alliances to get more done for all women would be for a women’s ERG to ensure that its officers represent a diversity of women within the company, and also represent the interests of a diversity of women.

Reaching across differences to form meaningful and robust working relationships can enhance our personal and professional lives, and provide a fortification of support during fraught times.

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The Business Case for Gender Diversity: Necessary But Not Sufficient

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diversity

Image via Shutterstock

Guest contributed by Lisa Levey

The business case or economic justification for gender diversity is front and center in any discussion of the subject.

Yet as a veteran diversity consultant, I don’t see the business case is getting the job done. It’s not that the business case is unimportant. Clearly, it’s critical but while the business case is necessary, it’s not sufficient.

There has long been evidence of the links between gender diversity and positive business outcomes – enhanced financial performance, greater creativity and innovation, and less risk among others. In 2008 the U.S. and the world fell into an economic downturn of epic proportions. Yet as late as the spring of 2007, the International Monetary Fund or IMF was messaging continued optimism for the global financial markets.

How could the IMF – explicitly tasked with monitoring the health of global financial markets – have missed the signs? An independent study found that ‘groupthink’ fueled by lack of diversity in perspective was to blame and gender diversity is a powerful means to bring that diversity of perspective to the table.

In June 2011 Christine LaGarde became the first female leader of the IMF replacing her predecessor Dominique Strauss-Kahn who was at the helm in the run-up to the global financial crisis. In 2016 LaGarde was unanimously voted for another 5 year term.  

The IMF example powerfully illustrates the limitations of the business-case only bias characterizing our current approach to justifying a focus on gender diversity. If bringing the world’s economies to their knees does not provide sufficient evidence of the business case for diversity – and the economic hazards of homogeneity – it’s clear the business case must only be a piece of a bigger puzzle.

Most white men approach gender diversity, all diversity truth be told, with trepidation. They experience the topic as harmful, fraught with conflict and risky. For some men, the very idea of enhanced gender diversity elicits anger. They perceive women’s initiatives as reverse discrimination and see support for greater gender diversity as undermining their professional security and status. Gender diversity makes many men feel awkward, confused and guilty; they keep their distance thinking, ‘I’m not one of those guys. I’m a good guy. I’m not doing anything wrong.’ But of all men’s problems with gender diversity, the biggest barrier to their involvement is indifference and apathy. In their mind’s, gender diversity is a women’s issue.

But that is where they would be completely mistaken!

Diversity is about evolving work cultures so that men can be the far more engaged fathers they long to be. Diversity is about men being able to take paternity leave – without career penalty – so they can experience the profound bonding with their child in his or her earliest days. Diversity is about men’s wives and partners being paid equitably, so she can contribute more financially, and he can feel less financial pressure. Diversity is about men’s mothers being able to reenter the workforce after divorce so that she can support herself and rebuild her self-esteem, in many cases. Diversity is about men’s sisters who want to leave unfaithful or violent husbands but don’t feel financially able to do so.

Diversity is about men’s daughters having the same professional opportunities as their sons and their sons having the same opportunities to be involved parents as their daughters. Diversity is about men’s daughters not having to deal with the sexually inappropriate norms that are pervasive in the workplace. Diversity is about men’s female bosses, many incredible mentors, not getting the opportunities they deserve because they’re deemed too nice – or not nice enough – to be a senior leader.

Diversity is about men recognizing that many of their seemingly harmless behaviors – assuming a new mother is not up for the challenge of a new job or stretch assignment without even asking her, making sexual jokes that demean, talking over women in meetings, paying the women you manage less than the men because you can – don’t just affect those other women. They affect his women [and girls] too by normalizing and perpetuating the status quo.   

While gender diversity is the smart thing to do in a business sense, it is also the right thing to do in so many ways. We shouldn’t be so reluctant in the business world to say that aloud! Helping men realize the connections between gender diversity at work – and in their lives outside of work – has been an enormous missing link. Gender diversity is not just about men helping women to thrive at work. It is about men being full partners in driving change because they know just how much gender diversity at work is connected to so many parts of their lives and has repercussions far beyond their workplaces.   

My vision is for white men to be an important voice at the diversity table, listening, sharing, and working to co-create new norms. Gender diversity is not a zero-sum game. It’s about evolving the work world for the 21st century in ways that improve the lives of women and men.

When we talk about gender diversity, in addition to articulating the economic case, let’s also talk about how it deeply affects men – the people they care about, the values they hold, the lives they want to lead, and the world they want to create for themselves and their children.   

Contributor Bio

Lisa Levey is a veteran diversity consultant, having worked with leading organizations for more than two decades to assist them in realizing the underutilized leadership potential of women. Her current work focuses on engaging men as allies and partners. She led the design and development of the Forte Foundation’s Male Ally signature resource platform for engaging men in diversity work and architected a pilot program to launch corporate male ally groups. She blogs for the Huffington Post and the Good Men Project on gender norms at work and at home. In the spring of 2018 partnering with her husband Bryan, Lisa is launching Genderworks, a coaching practice for dual-career professional parents to support them in navigating the obstacles to gender equality at work and at home. Lisa earned an MBA with highest honors from the Simmons School of Management and a BS with distinction from Cornell University in applied economics.

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

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Tech Sector’s Lack of Diversity is About More Than the Lack of Numbers

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Guest Contributed by Bill Proudman

It is no secret that the tech sector, for all its innovation and well-intentioned plans to work the problem, suffers from a serious diversity problem. One that will not be solved if they only focus on numbers –as in representation of marginalized groups.

The numbers only reflect underlying cultural problems within the tech sector. In hiring for example, an HR director or manager who only hires people who resemble the director or manager – looks, talks, acts, similar background, etc. – is missing the whole point of diversity. The situation is cultural, engrained, and usually unconscious. Systemic bias is prevalent in our society and its roots run deep into the corporate world. Only with our sleeves rolled up, working to change mindsets from CEO on down, do we begin to see a tangible cultural shift in the workplace.

So while the “numbers” are alarming, fixing the numbers alone is not enough. In their 2016 report, Diversity in High Tech, the Equal Employment Opportunity Commission (EEOC), the federal agency responsible for enforcing anti-discriminatory laws, concluded “Despite rapid transformation in the field, the overwhelming dominance of white men in the industries and occupations associated with technology has remained.”

The EEOC found that tech companies employed 7% African Americans vs. 14% for other industries, 8% vs. 13.9% for Hispanics, and 36% vs. 48% for women. The disparity was more pronounced for executive positions: 83% white, 2% African American, 3% Hispanic, 10.5% Asian American, and 20% occupied by women.

In Silicon Valley, the microcosm of the tech industry, within the top 75 tech firms, African Americans, Hispanics and women made up 3%, 6% and 30%, respectively. By contrast, it was 24%, 22% an 49% for non-tech firms in the same area.

If it were only a “pipeline problem,” one could concentrate on that and it’d be solved, but evidence points to something intrinsically awry within the sector. In one survey, 716 women who had resigned long-term positions in tech companies were asked what motivated them to make such a difficult decision. 192 women (27%) cited discrimination in the workplace related to an array of issues such as gender, age, race, sexual preference, an unsupportive environment, motherhood and childcare.

The ramifications of all this are felt not just morally, but in the company ledger. Replacing an employee costs $5,000 to $10,000, while for executives it’s $50,000 to $100,000. And that is all in addition to the devastating effects of lawsuits and damaged reputations.

White Men As Full Diversity Partners (WMFDP) was founded 20 years ago in order to confront and engage top level white male leadership across the spectrum of corporate America. Fortunately, most leaders are thrilled at the prospect of dismantling cultural bias. When we went to work for Dell, for example, we were met with a stellar level of cooperation.

As Chairman Michael Dell has stated, “A diversity of perspectives, backgrounds and experiences is the catalyst for innovation. That is how we deliver better results for our customers and our team members. For us, a diverse and inclusive culture is a competitive advantage.”

Marie Moynihan, Senior Vice President, Global Talent Acquisition, Dell EMC expanded further by saying, “I’m a very strong believer in the value of diversity. It forces a more challenging conversation and ultimately better decisions. I do think things are changing for the better for women in leadership. Companies are just paying a lot more attention to the evidence that’s out there now which says that a more diverse team can result in better return on equity.”

To address the obvious pipeline issue, one of the most ambitious projects I’ve encountered is called #YesWeCode. Founded by prominent activist Van Jones, #YesWeCode has the goal of teaching computer coding to 100,000 youth from inner cities and underrepresented minorities. Partnering with tech monoliths Google and Facebook, “Yes We Code aspires to become the United Negro College Fund equivalent for coding education,” Jones said. “Yes We Code exists to find and fund the next Mark Zuckerberg and Sheryl Sandberg in communities you would never expect to find them.”

By 2020, it is estimated that the tech industry will need another 1.4 million jobs filled, but only 400,000 US workers will be qualified to fill them. #YesWeCode and other forward-thinking organizations are taking advantage of this massive opportunity to diversify the tech industry, and in so doing create a paradigm shift in America.

Whether you intend to disrupt an industry, make a ton of money or save the planet, the disparity in high tech and other sectors serves as a lesson for the entrepreneur. I am confident that startups and companies that embrace diversity and inclusion, that challenge themselves and others, will emerge as the definitive leaders. That is because a diverse world calls for a diverse workforce of brilliant minds.

Recognizing our differences and similarities leads to new ways of breaking down problems, enlightening conversations and innovative solutions.

In an often turbulent world, that’s exactly what we need.

About Bill Proudman:

Bill Proudman is WMFDP co-founder and CEO. He pioneered white-men-only workshops in the ’90s after noticing white male leaders repeatedly disengaging from diversity efforts. Bill’s provocative work led to founding White Men As Full Diversity Partners. For over 35 years, he has served as a leadership development consultant, coach and facilitator to countless organizations on issues of team effectiveness, cultural competency, and diversity.

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Tips on Building on Your Company’s Commitment to Diversity

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Guest contributed by Karina DeLaCruz, Diversity Executive at CSAA Insurance Group, a AAA Insurer

diversity

Image via Shutterstock

Companies that embrace diversity can better reap the economic benefits of a diverse and inclusive workforce — and increasingly diverse markets. Our growing diversity as a nation and the impacts of globalization underscore why it’s critical for companies to embed the value of diversity and inclusion in their policies and practices for long-term success.

Diversity has an impact and is proven to drive engagement, innovation and profitability – all of which have very real bottom-line impacts:

Diversity drives engagement. Organizations that capitalize on the strengths of all employees – and leverage their differences and unique values – have the most engaged employees. Employees with the highest level of engagement perform 20 percent better and are 87 percent less likely to leave the organization than employees with low levels of engagement, according to a study by the Corporate Leadership Council. Engaged employees are more satisfied at work and more productive, and are more likely to stay with an organization and contribute to its success.

Diversity drives innovation. By bringing together different backgrounds, skills, and experiences, businesses are better positioned to develop innovative solutions needed to succeed in an increasingly competitive economy. Forbes Insights conducted a survey of more than 300 senior executives: among companies with more than $10 billion in annual revenues, 56 percent strongly agreed that diversity helps drive innovation.

 Diversity drives profitability. Numerous studies have demonstrated a business benefit to diversity. Deloitte highlighted research of 506 U.S. organizations showing that organizations with greater racial and gender diversity performed better in terms of sales revenues, number of customers and market share. Catalyst looked at Fortune 500 companies with the highest representation of women board directors and they attained higher financial performance, on average, than those with the lowest representation of women board directors.

 How do we get started?

If not approached strategically, diversity can feel like “just one more thing” employees are asked to take on. Consider these three key components in building out your diversity and inclusion strategy:

  • Get clear on the business outcomes you’re looking to drive through diversity and inclusion. Make sure you fully align those outcomes with company strategy.
  • Secure C-suite commitment — and their active, visible engagement with your efforts.
  • Embedding diversity in your company’s core values helps ensure that it is considered in strategy development and execution, and considered when critical decisions are made.

Launching a diversity and inclusion program – or expanding efforts – may require having difficult conversations to break through unconscious biases and educating leadership on how the program supports company goals and can benefit the employees and customers. Only when that foundational work is complete can you fully implement a successful diversity and inclusion program and reap the benefits.

How do you measure success?

No matter how much value you believe the program brings to the company, it’s important to track results. We look at metrics focused on key initiatives in each of the four pillars of our diversity and inclusion strategy. These include:

  1. Workforce: reflecting the diverse communities we serve
  2. Workplace: influencing company culture through diversity and inclusion
  3. Community/Marketplace: strengthening our brand in the marketplace through outreach, philanthropy, volunteerism and business partnerships with organizations that have similar values
  4. Members/Customers: weaving diversity and inclusion into the fabric of our business strategy and using it to better understand our customers’ needs and expectations

We developed a scorecard to measure success. For example, for the workplace pillar we look at our workforce representation, as most companies do. We also have a diversity index within our annual employee engagement survey that allows us to measure our effectiveness in providing an inclusive work environment. When it comes to community and marketplace, we evaluate how we’re doing in the area of supplier diversity and whether we’re increasing our community presence in terms of volunteer hours and community events hosted by the diversity and inclusion team.

The future of diversity and inclusion

Twenty years ago when we talked about diversity, the focus was on race, ethnicity and in some cases, sexual orientation. More companies are shifting their focus from diversity to inclusion or belonging. Diversity is a fact. Inclusion is a practice. Equity is the goal.

Ultimately, diversity and inclusion is a journey with no finish line. We all can play a role in helping create a more welcoming environment at work, while also enjoying the competitive advantages of inclusion.

Karina DeLaCruz is the Human Resources Consulting and Diversity Executive at CSAA Insurance Group based in Walnut Creek, CA.  She has extensive background and expertise in Human Resources, Diversity and Inclusion, Leadership Development, Business Operations and Customer Service.  In her role at CSAA Insurance Group, she is responsible for the design and execution of the company’s diversity and inclusion strategy and oversees all of their diversity and inclusion initiatives and programs.

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

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Diversity in the C-Suite: Leaders Championing Change

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 By Jessica Titlebaum Darmoni

diversity

Image via Shutterstock

On April 25, the Executive’s Club of Chicago hosted a discussion between Craig Donohue, Executive Chairman and CEO of Options Clearing Corporation, Aylwin Lewis, Chairman, President and CEO of Potbelly Sandwiches Works and Carter Murray, Worldwide CEO of FCB.  Moderated by Nichole Barnes Marshall, Global Head of Diversity & Inclusion at AON, the conversation focused on how these leaders have addressed and implemented successful diversity and inclusion initiatives within their organizations.

Leveraging Positions of Power

Carter Murray, Worldwide CEO of FCB and the Chicago Foundation of Women’s Male Champion of Change, kicked off the discussion talking about the personal and professional reasons he is committed to gender equality.

“My mom’s family had a successful family business and while my mom was always driven, she grew up being told to get married and have children,” he said.

While his mother was persuaded against working, Murray said it was ironic that it was his mother’s twin brother who ran the family business into the ground.

“Before the company went bankrupt, my mother was able to take $50,000 out and became a successful entrepreneur.”

Murray explained that he saw how hard she had to work to prove herself, compared to her male counterparts.

“This is fundamentally wrong,” he said.

Leading a global organization, Murray also has a professional perspective on the issue. He has seen employees discriminated against because of their sexual orientation as well as female industry colleagues face sexism in the office.

Murray explained that the issue should be fixed at the top level of management.

“As a white heterosexual male, we need to fix this,” he said. “It starts with leadership. You know that quote that a fish smells from its head? As leaders we need to get this right, policies should be zero tolerance and we should not just talk, but take action.”

Agreeing with Murray, Potbelly President and CEO Aylwin Lewis also believes that inclusion needs to be part of the decision maker’s strategy. He stated,

We can’t see what’s in someone’s heart. You might have good intentions but we can’t gauge that, and we judge people on their actions.”

Craig Donohue, Executive Chairman and CEO of Options Clearing Corporation (OCC), also believes that leaders need to leverage their positions of power.

Donohue joined OCC in January 2014 after an extensive career at the CME Group where he was also committed to gender and pay equality.  The CME has always had a diverse group of leaders such as Kate Meyer who led the clearing house division from 1987 to 1998, or more recently Kim Taylor who is the current President of Global Operations and Technology.

It was after speaking with his daughter, a Chicago based lawyer, about the challenges she faced in her career that he focused on the glass half empty perspective rather than the glass half-full.  He asked what he could do to help the cause and has determined that bringing awareness and visibility to the issue is his solution. Donohue’s take on doing his part according to him at the event,

“We have a pulpit and we should use it.”

Donohue also talked about his experience as a ‘transformation agent.’

While a small organization, the OCC has great industry output providing clearing and settlement services for all the US options exchanges and acting as the guarantor to every options trade.Among the changes Donohue has implemented was bringing a handful of women to OCC’s Board of Directors.

“OCC had an all male Board but now we have three female members,” said Donohue referring to Susan E. Lester, Christine L. Show and Alice ‘Patricia’ White.

He has also put women in senior level positions and on the Management Committee including Amy Shelly, OCC’s Chief Financial Officer, Jean Cawley, OCC’s Senior Vice President and Special Advisor to the Chairman and Tracy Raben, OCC’s Senior Vice President and Chief Human Resources Officer.

Evolving Pool of Talented Candidates

One of the things stressed during the conversation was that companies should look for candidates with diverse backgrounds.

“If you are not looking for something, you won’t find it,” said Donohue.

FCB’s Carter gave advice on what not to do when looking at hiring needs.

“I believe it is insulting to look to fill a position with a woman just because it’s a female candidate,” he said.  “Instead, we should look to hire brilliant, talented people that will step up to the role.”

While there is onerous on the company to look for diversity within their candidates, it was also noted that the pool of talent is growing, especially in the financial sector.

“The financial industry used to be a man’s world but this is evolving as we are moving away from floor based trading, which was a physical business,” Donohue said.  “We used to hire candidates with military backgrounds and that specialized in engineering and mathematics.  Women are taking leading positions in these areas so the demographics are changing.”

Bringing It All Together

The Executives Club of Chicago put together an informational event on how organizations can be more successful in their diversity and inclusion initiatives.  While a top down approach is most beneficial, it’s important to also bring advocacy and awareness to the issue.  Identify benchmarks by looking at the workforce in categories related to diversity and evaluate how you stack up.  Also, figure out what you are looking for because if you don’t know, you won’t find it.  Finally, look to hire exceptional people, not just to fill quotas.

As the conversation was concluding, Barnes Marshall shared a saying often mentioned at Aon.

“Diversity is counting heads but inclusion is making heads count.”

 

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Black Women Leaders in Business: Will Recent Losses Wake Us Up?

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black women leaders featuredBy Aimee Hansen

Across the past twelve months, four African-American leaders have stepped down from positions of high visibility in the business and political world.

What’s most striking about these few departures is the size of the gap created by them, highlighting an African-American representation among women in leadership that remains far too small and a diversity movement that remains far too narrow.

The large gap left by losing a few powerful African-American leaders is a wake-up call to widen our diversity, not just in intention but in individual practice and in outcome.

Losing Power Players

This year’s Fortune’s Most Powerful Women 2016 continued to feature Rosalind Brewer (#19 – CEO and President, Sam’s Club and Walmart), Anne-Marie Campbell (#20 – EVP, U.S Stores, Home Depot), and Ursula Burns (#25 – CEO and Chairman of Xerox), with Beyoncé displacing Taylor Swift (#51).

But the 2017 list will look different. Last May, Ursula Burns, the first and only African-American women to run a S&P 500 company, announced that she would step down from her CEO position after splitting Xerox into two companies. After Rosalind Brewer’s recent retirement news, black women – already scarce – will now be absent from the helm of major U.S. companies.

Meanwhile, former FLOTUS Michelle Obama has left the high profile visibility of the White House (although her voice may well remain in the spotlight) and Loretta Lynch has ended her term as the U.S. Attorney General.

These four women (Obama, Lynch, Brewer, and Burns) accounted for over 50% of the African-American names on Forbe’s World’s 100 Most Powerful Women 2016.

Losing four black women from highly visible, influential leadership positions wouldn’t be so striking except – in the context of so few peers in positions of power – it simply is.

Monolithic Diversity

The percentage of women CEOS among Fortune 500 companies dropped to only 4.2% in 2016 (from 24 to 21), which is a hit for all women. The near absence of minorities amidst that 4% testifies that diversity’s approach to advancing women remains very monolithic.

Black women remain caught in the blind spot of intersectionality, and while naming the problem helps, it does not address it. As Melinda Marshall and Tai Wingfield, authors of “Ambition in Black & White: The Feminist Narrative Revised,“ write in the Harvard Business Review, “At the intersections of race and gender, both then and now, black women have labored unseen, even to those lobbying for their advancement.”

As a recent AAUW report highlights, “the specific ways in which they (black women leaders) are disadvantaged clearly differs from the better-understood ways that white women leaders are dis-advantaged.”

The diversity movement falls short of advancing women when we too often ignore the rich diversity of needs, realities, and challenges experienced by different women, and work to address them.

Intersectional Barriers

As research has shown, black women are (three times) more likely to aspire to leadership roles than white women and half as likely to attain one.

As summed up by a 2016 report in the Journal of Business Studies Quarterly, some of the myriad of factors holding African-American women back from the C-Suite include dual bias at the intersection of race and gender (a net that affects everything else), the impact of stereotypes on perceptions (as an example, African-American women are often perceived as aggressive in communication), a lack of career opportunities to showcase skills, having to prove competency more than colleagues, a lack of strategic feedback, workplace isolation and ‘outsider’ status.

The Biggest Barrier is Social Exclusion

But one of the strongest barriers for black women is the lack of access to powerful social networking with influential senior executive leaders, which requires a certain level of ‘insider’ status.

According to Wingfield and Marshall in HBR, black women “have mentors and strong support networks but lack sponsors—leaders who will talk them up behind closed doors, steer plum assignments their way, and defend them against detractors.”

Black Women Executives Research Initiative Revisited by the Executive Leadership Council, the first longitudinal study of black women executives (BWEs) in corporate America (2007 and 2015), gleamed insights into both the challenges and experiences of 59 senior leaders across the eight year period.

The importance of creating and maintaining sponsorship relationships, and building a network of allies, was emphasized by BWEs.

As one interviewee said, “I believe you almost have to have somebody in the room where the conversation is happening that says, ‘this is the person who can make the contributions and be valuable.’ If you don’t have that it’s very hard.”

Research by Catalyst has demonstrated how black women and men who experience a heightened sense of “being different” based on their race/ethnicity within the workplace suffer an “Emotional Tax” that can include impaired sleep, a sense of always being on guard, speaking up less, reduced innovation and creativity, and feeling less psychologically safe in contributing their own voice at work.

However, a sense of inclusion reduces the Emotional Tax, and increases psychological safety, such as feeling leaders and team members ‘have your back’, that mistakes won’t be held against you, and that co-workers are not going to try to undermine your efforts – in other words, a corporate environment in which anyone can feel comfortable in taking risks, not just the majority.

Absence from networks also affects black women entrepreneurs. Despite the fact that African-American women are the fastest growing group of entrepreneurs, their endeavors tend to lack major investment backing or significant outsider funding.

Strategic Career Management

The Executive Leadership Council report also found that 27% of BWEs had advanced in their careers (since 2007), and over 60% did so while in Profit & Loss roles. Yet 46% of BWEs left their companies to start their own business or moved to a different company, sometimes losing ground.

In-depth interviews revealed four factors that were most influential in career developments for these leaders: 1) alignment of values, 2) agility and re-purposement, 3) sponsorship, and 4) relationship-building as politics.

The primary reason for satisfaction among BWEs in their work was alignment of values on an industry, corporate culture, positional or interpersonal level – and the primary reason for dis-satisfaction, and hence job movement, was a deterioration of alignment.

A key career strategy for BWEs, referred to as agility and repurposement, was an ability to move rapidly between challenges to foster “continuous learning, cross-functional, boundary-spanning work and intentional, if not always planned, career expansion.”

Many successful BWEs were keen to take assignments, even adjacent opportunities and glass-cliff appointments, that ultimately advanced their learning, broadened their expertise, and gained visibility and network connections.

Disrupting the Silos In Business & Diversity

As written in HBR, leadership which aims for real diversity must purposely disrupt silos in the workplace, creating more opportunities for intersectional visibility.

As Wingfield and Marshall write, “Leaders must create a culture in which people at the intersections of functional or affinity identities have equal access to their attention or equal opportunity to earn it.”

And as champions of diversity, we must disrupt the insidious silos that exist within the diversity movement and within. For each non-minority woman in a place of leadership, we can ask if we are doing our part in including African-American women in social networks and enabling opportunities for visibility?

Are we checking our own relative privilege and our own blindspots? As much as we want equality, are we practicing it within the power and influence we hold?

While theglasshammer is putting a focus on African-American women in leadership during February’s Black History Month coverage, minority women are living the lesser-understood intersectional challenges every single day, and we must make a daily practice of staying awake to that.

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Want To Help With Diversity Issues At Work? Make Leaders Address Them

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diverse workforce featuredI consult to many women’s networks and Employee Resource Groups (ERGs) and one of the most consistent issues that I encounter is that women often assemble these groups’ work in a vacuum and they self organize because they see organizational barriers and biases. They do not form because they have excessive time on their hands and how leaders fail to see this is often astounding to me. If people formed due to product dissatisfaction, I am pretty sure bosses would question the product not the legitimacy of the group or worse just ignore them.

So, what am I saying here? I am saying there are several reasons to get involved in a network/ERG and advocacy is an extremely effective strategy as is sponsorship (which we will discuss in another post) but do not confuse thinking you as a group have the authority to change the hiring or advancement of women directly as it is an indirect power at best. In any role, you should only accept responsibility for a task that you have the authority to execute on.

I hope this has got you thinking and comments are welcomed. Such a big topic and we shall explore the individual benefits of being part of an ERG all summer but also be wise enough to know when you are being tasked with something that the talent management group along with the organization’s leadership need to address.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

Contact nicki@theglasshammer.com if you would like to hire an executive coach to help you navigate the path to optimal personal success at work

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Voice of experience: Ana Malvestio, tax partner, diversity and inclusion leader, PWC Brazil

Ana MalvestioI have learned that technical expertise is essential. But clients assume all advisors have it. So it merely gets you into the game. What helps you to win the game is your capacity to collaborate with others,” says Ana Malvestio, tax partner and diversity and inclusion leader for PWC Brazil.

Malvestio started with PWC as a secretary while still in law school. She gleaned an important on the job education typing letters that partners sent to clients. She soon asked if she could start as a trainee. She was shocked when her boss turned her down. He said it would be too challenging for a woman because it involved lots of travel and it would be difficult to manage with eventual family responsibilities.

She persisted in her quest for an opportunity. Subsequently she became a trainee and the first woman in the tax department of her São Paulo state office. She has proved more than capable of balancing career and family demands: she has since been married and had two daughters, now ages 13 and six. And as the partner in charge of PwC Brazil’s Agribusiness industry specialty, her role is hugely significant. Brazil is the second largest global supplier of food and agricultural products. So Agribusiness is one of the most important sectors of the economy. It accounts for 20% of GDP and 43% of all Brazilian exports.

Ana is justly proud: “It’s motivating to serve an industry that feeds the world: in future, Brazil will contribute 40% of food consumed by the world’s population.”

Infusing diversity into the workplace

Partnering with an Agribusiness Association in Brazil, Malvestio conducted a survey to identify the role of women in the sector: “it’s still very much a male dominated business which spurs me on to drive change,” she adds.

Malvestio faced scrutiny from clients at first: sometimes she had to take a male consultant to meetings because clients wouldn’t interact with her. “It’s changed a lot,” she says, but she is determined to do more. Much more.

Her proudest professional achievement? “That’s easy,” she says, “I get so much satisfaction from contributing to the careers of my team and the success of women in the office”. She’s thrilled that another partner and director in her office began as her trainee and she’s now promoting another woman to director position. “Women in my position must make it easier for the next generation. That will be our legacy”.

She continues to encounter the stereotype she first worked against. Women don’t receive the same opportunities as men because others assume they will be compromised in their careers by families. “Careers are equally as important for women as they are for men: I wouldn’t be a complete person if I stayed at home. You need to find what makes you happy. For many women that’s the feeling that you are contributing to something, to have your own achievements. Your family are the most important people in your life. But they are not everything, and I am a better mother for having a career which gives me satisfaction.”

Malvestio supports the UN “HeforShe” initiative as a way to reposition perceptions of women and achieve greater equality. “If we keep the debate only among women, we will not change the conversation. Men have to be involved and together we can improve things for everyone. It’s not just a woman’s problem.”

In her diversity and inclusion role, she has been instrumental in launching a flexibility policy for mothers. She insists employee reviews are based on results, not hours worked. She also inaugurated a diversity and inclusion committee involving partners and key talent managers, pushing diversity firmly up the agenda. Nothing gets in her way.

A passion for travelling and music

A music lover, Malvestio adores live concerts-everything, she says, from the local orchestra to global rock bands. She has travelled extensively across Europe and the United States and always incorporates adventure into her travel for PwC. “When I have an opportunity to travel for a meeting, I will search out the best theatres, art galleries, restaurants and landmarks so I can immerse myself deeply in the country or city I am visiting. Every holiday we are on the road, and my daughters love it just as much as me.”

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