Tag Archive for: executive

How to Make Your Next Career Move During COVID-19

Next Career MoveNavigating change at work is applicable to everyone in their career right now. Working with an executive coach can help with adapting to the new environment of work from home and adjusting your mindset to deal with the changes that, due to a pandemic, seem to be here to stay for a while.

Executive-level jobs in the financial services and Fortune 500 are not exempt to disruption as the economic damage starts to take effect and it is very possible that companies will start slashing budgets and downsizing later this year.  So now, not later, is the time to prepare to make your next career move.

It won’t be the old-fashioned tap on the shoulder informing you that your team is being consolidated and there is no place for you.  The digital version of getting marched out of the building can provoke the same feelings of rejection, shame, anxiety and fear of what job to do next. If you are fired or made redundant, furloughed or re-org’ed out, then all is not lost. Instead, start with your own inner voice and control your psychology around what just happened, as self-talk and old fears and feelings can easily surface at this point. Your unconscious mind will enjoy slapping you with paradigms developed over a lifetime. These can take many forms; for those with imposter syndrome it could be “told you so, you didn’t belong there.” In the case of general self-worth concepts it could be the shame of “letting them down,” even though when I push my clients to further consider this internal message the “them” is mystical, general and undefined.

The best investigation you can do into your own constructs can be done using concepts from Lahey and Kegan’s work in Immunity to Change. This is a book I write about often and pursue with coaching clients to help them understand how to break out of implicit notions that your brain is quietly telling you.  These notions are working as the operating system beneath all the human apps or hacks that you think you are running for things like productivity and mastery in your life.

In times of potential trauma, such as job loss, you are faced with a choice of how to recover, as there are many emotions and thoughts involved with this type of situation. The best thing you can do is let go of any negative emotions such as anger or bitterness or shame. This is often easier said than done. Get perspective, as most likely this is not about you personally in these COVID-19 times. Use this event instead as reframe the change as an opportunity to understand what you enjoyed most, and least, about both the job itself and the company culture. This will help you figure out what is next for you professionally. If you have any kind of decent financial cushion, make a promise to yourself that you will not make rash decisions and instead take the time to reflect on what you really want to do.  That could come quickly if clarity happens, which is why a good coach can help you by supercharging you and your process. What do you need more of? Less of? How do you get what you want? This can be more satisfaction, more time, more flexibility, more money, a different title or even a complete pivot into a different career.

Not Furloughed or Fired but Ready for a Change

Even if things are steady at work it is okay to think about making a change, especially if your industry doesn’t look robust in terms of future sustainability or growth. See the writing on the wall regarding how your company is dealing with employees during COVID-19. Look for actions and behaviors. Are they laying off staff in other departments or teams? How are they doing it? Is there a voluntary severance program in place where the deal is lucrative? If so, perhaps it is worth talking to your manager about the future, specifically your future. This can be a courageous conversation to have so make sure you are in good standing with your boss as of course there is risk attached. If everything looks steady, find ways to ensure you make your value visible at all times. Working smarter not harder is the key here.

Take this time to think about what you want long term. In these exhausting times, it is easy to just survive the day and pour a cocktail on a Friday to celebrate getting through another week at work. Do an exercise of “flash forward” and picture yourself three years from now; what are you doing work-wise? Which firm are you in, if any, and what does your day-to-day look like? Start with the end in mind and start to think about the steps that could be taken to get there as Rome (or anything) was not built in a day. What skills do you need to develop? What connections do you need to make? What does starting the transition or pivot to a new job, career or industry look like? Herminia Ibarra’s fabulous book Act Like a Leader, Think Like a Leader very much argues that we are all in transition, and we just might not know it yet. From this perspective, looking at networks and skills is a worthy action at all times. I highly endorse her work, and this is a consistent recommendation from me to my coaching clients across senior levels on Wall Street, tech, fintech, healthcare and pharma.

As gloomy as things might seem right now with the outlook for the economy and personal risks in going to work, it is ultimately an ideal time to figure out what you want and what works for you. Things will return to a normal of sorts, but who knows when? Think about the last time you interviewed for a job. You might have been in a different place in your life and it’s okay to acknowledge that everything has changed. Not least, you have a chance to think about your enhanced skillset. And surely all of our resilience muscles have increased, as we have been resourceful though quarantine, kids crawling in to zoom meetings and productivity despite lack of connectivity. You are better placed than ever to be the best executive version of yourself!

If you wish to have a complimentary, exploratory conversation to see if executive coaching with Nicki Gilmour or one of our associate coaches could help you navigate your career this year and beyond, then please select the time that works best for you from the link below.

Event: Exploratory Coaching chat – see full list of times

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Asian American Women 2018: Often The Professional, Too Rarely The Executive

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Image via Shutterstock

By Aimee Hansen

When it comes to Asian American women in business leadership, the steady storyline is often the professional, less likely the manager, and rarely the executive.

Asian Americans make up 6% of the US population, 12% of U.S. professionals, and yet only 5% of executives, leaving them “stuck in the middle”.

On Wall Street and in Silicon Valley, Asians comprise even higher percentages of professionals, but a much smaller percentage of senior executives. They make up 26.9% of professionals at Goldman Sachs but only 10.7% of senior executives, 23.1% of professionals at Citigroup Inc. but only 12.7% of executives, and 20.6% at JP Morgan but only 6.8% of executives.

Buck Gee, a retired Cisco Systems Inc. vice president and co-author of a new report from the nonprofit Ascend Leadership, said in Bloomberg: “We are the most successful minority.” But when the lens turns to C-suites and upper management, “we’re the least successful minority.”

It’s not an education problem or a hiring problem, or necessarily even a pipeline problem. It is, however, cultural – largely, a corporate cultural issue.

The corporate-defined stereotypes of leadership (masculine, aggressive) and the intersection of gender and racial stereotypes through which Asian American women are perceived play at least as big of a role as the instilled cultural norms that may keep Asians from advocating for themselves as leaders, while trusting in hard work being enough to bring results.

Companies are called to practice inclusivity: leadership development and demonstration that bridges (not falls through) the cultural gaps to get diverse talent into leadership roles.

Stereotypes and “Model Minority”

Due to high education, professional employment and income levels, strong entrepreneurism, and the “model minority” reputation, Asian Americans are often overlooked when it comes to encouraging diversity.

But Asian American women face both “positive” and “negative” stereotypes – that may lead to envy, resentment, dislike, or perceived lack of leadership qualification – and can hinder organizational advancement. They face the intersectional discrimination of “racialized-sexism” and “sexualized-racism.” Even the seemingly positive reputation of “model minority” is a skewed and distorted box that inhibits advancement when it comes to leadership. And, studies have shown “that Asian Americans, like other minority groups, are aware of and may even internalize the stereotypes attributed to them.”

According to a qualitative study published in the Global Journal of Human-Social Science that tracked 16 Asian female middle managers, Asian women reported that they “sometimes benefited from the positive associations of their Asian ethnicity with qualities such as intelligence and diligence, and sometimes they face the demerits of being Asians, that reinforce a view of them being passive and lacking in leadership skills.”

According to the research, the experiences of these women were “complex and conflicting.” Some participants reported that they were able to seize opportunities for self-actualization, personal empowerment, and career growth “by leveraging their Asian culture,” but others talked about a subtle cultural disconnect that created barriers to networking, as well as to conforming with the norms of American corporate culture.

Meanwhile, when it comes to executive ambition, Asian women are “more likely than white women to say that their goal is to reach the top of their profession.”

Missing at Executive and Middle-Management

“The Illusion of Asian Success” report focusing on the San Francisco Bay area tech companies, by the Ascend Foundation, found that despite being the biggest professional racial cohort across 2007–2015, Asians were the least likely to be promoted to manager or executive level.

“Asians are still the least upwardly mobile demographic to reach leadership positions in (San Francisco) Bay Area technology companies,” state the authors. “The widely-held notion of Asian executive success is largely an illusion.”

The report found that while they are “outnumbered by Asian men and women in the entry-level professional workforce, white men and women were twice as likely as Asians to become executives and held almost 3x the number of executive jobs.”

Ascend previously created the Executive Parity Index™ (EPI) – which “scores a company’s diversity in its executive workforce relative to its entry-level workforce.” The report found that between 2007 and 2015, white women went from 12% below parity to 17% above in 2015, but all racial and ethnic minorities remained below parity.

Asian women were especially unlikely to become Executives – going from 76% below (.24 EPI) executive parity in 2007 to 66% below (.34 EPI) in 2015. Meanwhile, Asian men went from 44% below parity to 38% below parity.

Ascend also introduced a new Management Parity Index™ (MPI) to look at mid-level management representation. Asian women had the lowest MPI of .54 in 2007 (45% below parity) and .69 (31% below parity) in 2015.

“Asians were the only minority group underrepresented in middle management,” the authors were surprised to find. “We conclude that Asians were not only the least likely to be executives in 2015, but also the least likely to become Executives in the near future.”

While the executive gender gap for Asian women is only 85% with Asian men, the racial gap is 246% with white women. As white women were promoted, race became the increasingly dominant limiting factor – going from twice as big as sex in 2007 to three times as big in 2015.

The report co-author Denise Peck, a former vice president at Cisco, stated “Minority women continue to bump against a double-paned glass ceiling. The data show that a general focus on developing women leaders has not addressed the distinct challenges for Asian, Black, or Hispanic women. This has been an unspoken truth in the minority community, and we hope that our report opens a long overdue dialogue.”

Companies Need to Build a Cultural Bridge

In the LA Times, writers Ramakrishnan and Lee note how a few highly visible tech leaders can create a false perception of Asian prominence among leadership: “while Asian Americans can get through Silicon Valley’s doors, they are unable to move up the ladders.”
The article asserts that Asian Americans are often perceived as having more hard skills (competence) and fewer soft skills (communication, collaboration), but that there is a gap in soft skill development and demonstration opportunities for Asian professionals.

In the 2016 National Asian American Survey, 68% of white employees indicated planning or chairing a meeting at work, while only 51% of Asian American employees had done so, despite an equal percentage (40%) indicating they served in a supervisor capacity.

Again, the gap grew among women, as Asian American women were “25 percentage points less likely to chair a meeting when compared with white women.” The LA Times writers state, “One obvious, simple and costless solution is for employers to make sure that everyone who’s qualified gets an opportunity to lead a business meeting.”

During Bloomberg’s “Walk the Talk” feature on why so many Asian Americans are absent from the C-Suite, Laura Colby said “many Asian executives who I talk to will themselves say that they credit a bit of their upbringing for them not being as aggressive perhaps as might be considered necessary to show that you want to advance in Corporate America.”

Colby emphasized, however, that companies have to be more inclusive to bridge exactly these cultural nuances: “There are some programs out there, but several of the people I spoke with said you really have to make a point of engaging all the groups in a corporation, not focus on a specific group, or blame people for their own lack of being able to climb the ladder when really it might be the ladder itself that is tilted and preventing them from getting where they want to get.”

Sometimes, it’s the ladder that is broken, or too narrow, or too weak, or too rigid, to allow change to climb as high as it needs to.

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