Tag Archive for: Women

Women, Men, and the Two Sides of Confidence

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Professional Women

Guest Contributed by Tomas Chamorro-Premuzic

Even when our assessment of other people’s competence is wrong, their self-confidence can still have self-fulfilling effects, opening doors and opportunities to those who simply seem more confident.

This is one of the reasons that so many well-intentioned people have advised women to be more confident to get ahead at work and in their careers. There are several problems with this kind of advice.

First, it fails to recognize that confidence has two sides. Although confidence is an internal belief, it also has an external side, which concerns how assertive you seem in the eyes of others. This external side of confidence is the most consequential because it is often mistaken for real competence.

The bottom line: regardless of how confident we feel internally, when we come across as confident to others, they will often assume that we are competent, at least until we prove them wrong.

This link between perceived confidence and competence is important. Although women are assumed to be less confident than men and some studies have shown that women appear to be less confident, a closer look at the research shows that women are internally confident. In fact, men and women are both overconfident—even if men are still more overconfident than women.
As Harvard Business School’s Robin Ely and Georgetown’s Catherine Tinsley write in the Harvard Business Review, the idea that women lack confidence is a “fallacy”:

That assertion is commonly invoked to explain why women speak up less in meetings and do not put themselves forward for promotions unless they are 100% certain they meet all the job requirements. But research does not corroborate the idea that women are less confident than men. Analyzing more than 200 studies, Kristen Kling and colleagues concluded that the only noticeable differences occurred during adolescence; starting at age 23, differences become negligible.

A team of European academics studied hundreds of engineers and replicated Kling’s finding, reporting that women do feel confident in general.21 But the researchers also noted that women’s confidence wasn’t always recognized by others. Although both women and men reported feeling confident, men were much more likely to be rated by other people as appearing confident. Women’s self-reports of confidence had no correlation with how others saw their confidence.

To make matters worse, for the female engineers, appearing confident had no leadership benefits at all. For the men, seeming confident translated into having influence, but for women, appearing confident did not have the same effect. To have any impact in the organization, the women had to be seen as confident, competent, and caring; all three traits were inseparable. For men, confidence alone translated into greater organizational clout, whereas a caring attitude had no effect on people’s perception of leadership potential.

We are, it seems, less likely to tolerate high confidence in women than we are in men. This bias creates a lose-lose situation for women. Since women are seen as less confident than men and since we see confidence as pivotal to leadership, we demand extra displays of confidence in women to consider them worthy of leadership positions. However, when a woman does seem as confident as, or more confident than, men, we are put off by her because high confidence does not fit our gender stereotypes.

If women don’t lack confidence, then why do we see differences in how men and women behave? Why are women less likely to apply to jobs or to request a promotion unless they’re 100 percent qualified? Why else would women speak less in meetings and be more likely to hedge their bets when making recommendations?

If the answer is not how women feel internally, it must be how they are perceived externally. In other words, differences in behavior arise not because of differences in how men and women are, but in how men and women are treated. This is what the evidence shows: women are less likely to get useful feedback, their mistakes are judged more harshly and remembered longer, their behavior is scrutinized more carefully, and their colleagues are less likely to share vital information with them. When women speak, they’re more likely to be interrupted or ignored.

In this context, it makes sense that even an extremely confident women would behave differently from a man. As Ely and Tinsley observed at a biotech company, the female research scientists were far less likely to speak up in meetings, even though in one-on-one interactions, they shared a lot of useful information. Leaders attributed this difference to a lack of confidence: “What these leaders had failed to see was that when women did speak in meetings, their ideas tended to be either ignored until a man restated them or shot down quickly if they contained even the slightest flaw. In contrast, when men’s ideas were flawed, the meritorious elements were salvaged. Women therefore felt they needed to be 110 percent sure of their ideas before they would venture to share them. In a context in which being smart was the coin of the realm, it seemed better to remain silent than to have one’s ideas repeatedly dismissed.” Thus, because we choose leaders by how confident they appear rather than by how confident or competent they are, we not only end up choosing more men to lead us but ultimately choose more-incompetent men.

ABOUT THE AUTHOR

Tomas Chamorro-Premuzic is the Chief Talent Scientist at ManpowerGroup, a professor of business psychology at University College London and at Columbia University, and an associate at Harvard’s Entrepreneurial Finance Lab. He has published nine books and over 130 scientific papers. His most recent book is Why Do So Many Incompetent Men Become Leaders? (And How to Fix It)?

This article is adapted by permission of Harvard Business Review Press. Excerpted from Why Do So Many Incompetent Men Become Leaders? (And How to Fix It)? by Tomas Chamorro-Premuzic Copyright 2019 Tomas Chamorro-Premuzic. All rights reserved.

The opinions and views expressed by guest contributors are their own and do not necessarily reflect those of theglasshammer.com

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Op-ed: Make Asset Management More Visible as a Career Choice to Women and Girls

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Ann MilettiBy Ann Miletti, co-lead portfolio manager of the Wells Fargo Asset Management Private Market Value (PMV) Equity team

When I tell people what I do for a living, I am often met with puzzled looks.

These experiences always remind me that asset management is a complex and often misunderstood business – despite the fact that the industry is inextricably involved in the financial and retirement plans of most Americans. Since it is Women’s History Month with International Women’s Day celebrations still resonating, with the theme #betterforbalance, it is a great time to talk about realities, myths and opportunities that come with working in asset management. And, how it is an underdiscussed career path that many women could take, in many forms, either on the retail or institutional side of the business.

My Journey to Co-lead Portfolio Manager

I’ll admit, when I started my career as an elementary school teacher, I would have had the same reaction. However, 29 years ago my path took a sharp turn that caused me to fall into asset management in a most unconventional way. After my son was born with a serious heart defect, I needed to stay home to care for him while my husband worked during the day. But the tremendous financial implications of his illness and of life in general did not allow me to remain unemployed. So, I found a job working the midnight shift at a call center for a local financial firm. This job allowed me to learn about the financial markets and various product offerings from the ground up. Unbeknownst to me at the time, it would be the stepping-stone for a successful career as a portfolio manager at Wells Fargo Asset Management. I currently, along with my team, manage about $4 billion in assets.

Still today, if you ask a high school or university student who is exploring career options or majors what a fund manager or asset manager does, most do not know. Sadly, if they do know anything, it may not be something positive. Hollywood, the media and politicians often portray the financial services industry – and Wall Street in particular – as immoral, driven by greed and selfishness.

In all honesty, asset management, like most industries, has produced its fair share of bad actors. And the financial crisis of 2008 further tarnished the reputation of financial services overall.

Yet the true value of asset management is rarely discussed, which is unfortunate. I firmly believe that the majority of asset management professionals go to work each day with the goal of creating wealth for their clients and helping them prepare for their financial needs, both for today and for the future. Today, our industry in some way manages about $28 trillion in retirement assets in 401(k) plans, pensions and other vehicles.1 Our mission is to help people achieve their dreams, such as sending their children to college, buying their first home, preparing for retirement or something much bigger.

Asset management provides a worthy and fulfilling career – a notion that I believe remains widely misunderstood. For example, I know the returns we generate for our clients are meaningful and make a significant difference in their lives. And without finance, the economy would not grow, creating fewer jobs and hurting all of us, no matter your profession or financial standing.

How do we change the perception?

To start, we need to educate people at younger ages about financial literacy and encourage them to practice responsible money management skills. This is something I am both passionate about and involved in with high school-age kids today.

We as an industry must also stop talking in jargon that is difficult for a mass audience to understand.

In addition, asset management and financial services in general need a pipeline of curious, dynamic-thinking, and diverse people. To attract the right talent, our industry must do more to educate everyone about the value that we provide to individuals, families and society.

We need to more actively embrace diversity, including encouraging young women equally and early to be interested and  confident that they belong in the asset management field – and maybe, most importantly, that they are needed because of their skills.

In research conducted by Wells Fargo Investment Institute,2 we found that women’s attributes such as patience (trading less), discipline (through asset allocation) and a willingness to learn (seeking advice from an investment professional) have allowed them to earn higher returns on their investments for the risks they do take. That is essentially the essence of investing – maximizing returns in the face of risk.

We must find ways to communicate the financial stories of success. Hollywood may have immortalized the slogan “greed is good” with many of the recent depictions showing a persistently evil industry – but that just isn’t so. Nest eggs have grown, college educations have been paid for, endowments have been built up and civic building projects have been completed. These are just a few examples of how society has benefited from the industry.

I am grateful for my career in asset management, a field that thrives on the many strengths and attributes of women.

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Voice of Experience: Busisiwe Mathe, Partner/Director, Risk Assurance Cyber Security and Privacy; PwC

Looking back over her career, PwC’s Busisiwe Mathe says she wishes she had been as comfortable in her own skin when she first started as she is now; however, she understands that acquiring that confidence is all part of growing.

“I believe that there was a lesson I needed to learn in everything I have experienced in my career,” she says.

A Varied Career Brings Success

Mathe began her career with PwC in 2004 and throughout her tenure has garnered experience in external and internal audits, technology transformation projects, business continuity management, cybersecurity and privacy, including stints abroad in the New York and Atlanta offices.

As the chairman of the South Africa PricewaterhouseCoopers Governing Board, Mathe serves as a member on the PwC Africa Governance Board and currently oversees the firm’s Africa Cyber and Privacy business.

It’s a crucial line of business, considering the prevalence of cyberattacks, including ransomware, that have increasingly plagued companies both globally and locally in the last 18 months.

While the attacks used to be concentrated to one specific sector or industry, they have become more widespread across all industries, and are moving from information technology into the operational technology environment. That concern was noted in PwC’s 22nd Annual Global CEO Survey, which showed cyber threats staying among the top 5 risks identified by CEOs.

Helping Women Achieve Success

Mathe believes that one of the top barriers for women in the industry is actually based on a false notion—the fact that most women view it as a technical industry where you have to have earned a technical or IT-related degree. However she finds that to be restrictive, as cybersecurity has both technical and non-technical aspects and thus offers a wide range of career lines one can follow. But that assumption leads to a second challenge, which is that the lack of women in the industry means that it is harder for young woman looking to enter the profession to find mentors or others to look up to.

She encourages women considering the industry to realize that the sky is the limit, and the variety of positions offered make cybersecurity a fantastic place to thrive. And she encourages her peers to focus on mentoring the younger generation—making it a priority to support STEM initiatives or even start their own to encourage women pursuing these important fields.

PwC is a supportive place in that sense, as Mathe underscores that the PwC Africa leadership team is firmly committed to diversity and inclusion, having adopted the Global Inclusion Index locally as a tool to continuously assess progress. In addition, all partners and staff take mandatory unconscious bias training, focusing on four dimensions of diversity: gender, race, sexual orientation and generational diversity. That has paid off in more women achieving leadership roles; in fact 45 percent of the partners named in the most recent cycle of promotions were women.

A Full Life Outside Of Work

“My family is my foundation; I would not be where I am had it not been for my strict, yet loving, father who told me at a very young age that I could achieve anything I put my mind to, and my mom who played a significant part in the woman, wife and mother I am today,” Mathe says. She carries out those lessons with her own family, which includes a supportive husband, whom she calls “one of her biggest cheerleaders,” and eight-year-old twin boys.

She also coaches and mentors students and young professionals through partnerships with organizations like Youth Leadership and Entrepreneurship Development (YLED) and the DreamGirls Academy. “I enjoy mentoring and coaching both at work and outside work by partnering with NGOs that empower young girls in believing and shaping their dreams,” she says.

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Women Still Prime Targets of Workplace Bullying

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bullying-women-looking-stressed-and-alone

Guest contributed by Patrick Valtin

Disengagement and bullying

More than 72% of the US Workforce are disengaged, costing the US economy over $500 billion in revenues annually. One primary (and often overlooked) source of employee disengagement is unsolved or badly managed bullying in the workplace; it affects 75% of American workers, causing lower productivity, lower morale and higher personnel turnover. Defined as repeated mistreatment of an employee by one or more employees, workplace bullying is hitting hard in the repute of US business leadership:

  • 61% of bullies are bosses
  • 71% of employer reactions are harmful to targets – versus 60% of coworker reactions
  • 45% of employees have reported worsening of work relationships in the last 4 years.
A Leadership Crisis

Women are more frequently bullied than men. In fact, a survey by the Workplace Bullying Institute found that 70% percent of bullies were men (versus 30% women) and generally, 66 percent of targets were women. The survey also revealed that women bullied women in 67 % of cases – versus 65% between men.

The same-gender findings about workplace bullying illustrate well the inadequacy of current non-discrimination laws and employer policies to cover bullying cases. Per the Workplace Bullying Institute, 40% of all bullying cases are considered ineligible by HR gatekeepers in organizations. Complaints go unfiled, and bullying problems ignored or discounted. This allows bullies to bully with impunity.

As reported by business.com, less than 20% of employers will help a bullied target, leaving 65.6 million victims without much recourse – other than, for 61% of them, leaving their job in order to escape the resulting emotional stress and suffering.

Per a 2017 US workplace bullying survey on employer’s attitude & reaction to bullying in their organization:

  • 22% never learned about bully’s misconduct
  • 26% did nothing, while complaint was filed
  • 46% investigated inappropriately, and nothing changed
  • 71% showed negative reactions
  • 23% took action with positive changes for target
  • 6% took action which resulted in negative outcome for perpetrator
Developing an anti-bully culture

Employers must either learn how to deal with bullies or avoid hiring them in the first place. But bullying would dramatically decrease if leaders would first openly and formally make aggressive or abusive conduct inacceptable. Below are some practical tips on how to minimize the issue:

  • Develop a formal code of conduct which (1) defines bullying in the workplace; (2) educates staff on the negative effects of bullying on personal & group’s morale and on the organization survival; (3) raises awareness and responsibility of every group member and (4) clearly defines penalties for non-compliance.
  • Create a “zero-tolerance” policy on the subject, comparable to zero tolerance for drugs or for sexual harassment; and enforce it at all levels without any exception.
  • Apply full transparency on the subject during staff meetings, while rewarding positive attitudes and discouraging/punishing bullying behaviors.
  • Ensure that executives manage by example, treating everyone fairly and with care, without exception – and condemning any bullying attitude.
  • Confront the bully without delay. Use a formal feedback form to report the perpetrator’s attitude and outline objectively any behavior that must change.
  • Train your HR staff to help people deal with bullying. Both the bully and his or her targets need to be educated and procedures must be known on how to deal with the issue.
  • Use happiness at work as a major focus of leadership. My white paper “Hire for Happiness,” explains why in a happy environment, it is harder for a bully personality to act freely.
  • Understand the bully personality and how to spot it.
Conclusion:

The destructive impact of bullying in the workplace can be minimized if leaders become more aware and more willing to do something about it. Fundamental principles of respect for others and for the “Golden Rule” (Do not do to others what you would not want them to do to you) make up the basics of relationship and should be part of a code of conduct in any organization. It is up to employers and their executives to enforce such fundamentals, to compensate for a lack of legislation on the matter to ensure appropriate attitudes toward all employees.

About Patrick Valtin

Patrick Valtin is the president and CEO of HireBox International, as well as an international speaker and author. He is also the author of the whitepaper “Hire for Happiness” available at www.hireforhappiness.com. Considered an industry leader in recruiting, pre-employment assessment, personnel performance evaluation and human resources development, he has trained more than 120,000 people in over 35 countries over the last 29 years. Valtin received an MBA in International Business Studies from the Moore Business School at the University of South Carolina in 1982; his clients over the last 29 years have included executives and sales representatives from Ford Motor Co., BMW, Mercedes, Motorola, IBM and Century 21. His book, No-Fail Hiring 2.0, is a bestseller on Amazon.

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Tips for Women on Negotiating Salary Now That Equal Pay Is Mandated

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Guest contributed by Susan Brennan

On April 9, a US appeals court ruled that a woman cannot be paid less than a man for the same job simply because they had a prior lower salary.

While this is certainly progress in the right direction, it will be interesting to see how companies enforce and track this in action.

Do you cringe a little when you think about salary negotiations? While negotiating your salary might feel like something you would rather avoid, deciding, whether or not, to accept a salary offering and having the confidence to negotiate for higher, is a skill that take you well beyond your life right now.

However, pay secrecy or being discouraged to discuss salary is a real thing that many people, especially women, deal with. According to a survey from the Institute of Women’s Policy Research, 51 percent of women reported, “The discussion of wage and salary information is either discouraged or prohibited.” And with women in the United States earning on average 80 cents to every dollar a man makes, the time for women to feel confident to earn what they deserve and have these conversations is now.

Here is a guide on salary negotiating from the moment you receive the offer to the moment you and your future employer agree upon a number.
  • Before the offer—and even the interview—do your homework so you have data to back up your case

Before you start talking numbers, figure out how much you need to live by doing an inventory of your fixed expenses. This is called determining your bottom line. What do you have to pay every month rain or shine; rent, child care, food, car payment? This isn’t necessarily the number you should settle for, but it will give you your bottom line—then build up. Caveat: Employers do not care what your expenses are, so don’t use this as an argument for more money.

  • Know your worth

There are a lot of resources to help you determine what the market is paying for similar positions and experience levels. Websites like Glassdoor and Payscale allow you to plug in a job title and years of experience and get a range for what the market will bear for that kind of role. The numbers will take into account geography and a number of other factors that have an impact. Across industries, pay gaps vary. For example, female doctors earn significantly less than male doctors, an average of 28 percent.

There are also some awkward situations you need to be ready for, such as:
  • On the first interview, you’re asked about your salary expectations. A good (and honest) response is to tell the interviewer that at this point, you’re focused on learning more about the role and what you will be doing before moving forward with salary. If you absolutely need to answer, never provide a single number; have a range ready based on your research so you have data to back you up. If you’re asked about salary on an online application, try to skip that question or enter a range if possible; otherwise enter the high end of your range.
  • You get the offer at a lower salary than you expected. First, express that you are excited about being offered the position and the value you can add to the company. Then add something like this (given that you’ve done your homework on fair market salary): “I did want to talk to you more about the base salary because I’ve done research around comparable roles with my background in [insert experience], and my expectation was that I would be in the range of [insert range here] and I’m wondering if there’s room to negotiate.” And make sure you also ask questions about benefits such as health coverage, retirement matching, and vacation; they can add a lot of value and should be taken into consideration.
  • You want to negotiate the salary. Should you email, meet in person, or make a phone call? The natural tendency for a difficult conversation is to email, but when it comes to salary it’s very important to have a conversation if you can. You can certainly send email to say you would like to talk more about the offer, but set up a time to talk. It will help both of you get a good read on each other, and you can get answers quickly. If the answer is “No” to negotiation, ask when you could expect to get closer to your range. “How do people in this position historically move up the range? How often will I be reviewed and see salary increases?”
  • You get the call with the job offer and salary you want. Should you accept? First and foremost, do not say “Yes” right away, as it binds you without knowing the full terms of the offer, including benefits and reviews. Pause, take a deep breath, be gracious; and buy some time. A good response: “I’m thrilled to get the offer and I will definitely take some time to think about it. Could you send an email with all of the details and we can schedule a follow up call to discuss?” This is important: Do not make verbal acceptance to an offer without reviewing all the details! It may seem counterintuitive to pause after all your work negotiating, but there are a lot of other details that are part of the offer. The contracts are typically written by a lawyer or human resources personnel and can be binding— even if you’ve only made a verbal agreement. Carefully review the agreement once you receive it.

The bottom line of successful salary negotiation especially for women: Know your budget and have data on the market range (versus a single number) to back up your worth. Don’t be afraid to ask for what you deserve; but make sure you are vision-driven—the value you will add to the company—and data-informed.

Susan Brennan is Associate Vice President of University Career Services at Bentley University and co-host of the career advice podcast Counter Offer, the podcast that helps you love Mondays. Over the past decade, she has put Bentley on the map for delivering impactful career education and outcomes, with 99% of first-year students participating in her team’s ground breaking career development course and 97% of 2017 graduates employed or attending graduate school within six months of graduation.

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

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Women in Corporate America Continue to Feel Like a Square Peg in a Round Hole

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women stressed

Guest contributed by Lisa Levey

Gender diversity is on the radar in corporate America after more than 10 years of research highlighting the economic benefits of women in leadership roles.

Companies have invested in gender initiatives that aim to support women’s advancement and diversify the leadership pipeline. Some companies have been at it for multiple decades. Yet, the results seem to be much ado about nothing.

McKinsey and LeanIn’s 2017 annual Women in the Workplace report on the state of women’s advancement recounts the sad tale – women fall behind early in their careers and the gender gaps widen at each step along the career ladder. And year after year the changes are marginally positive at best.

So what is going on? Why despite much effort on the part of organizations does the big picture of women’s place in corporate America look eerily similar to 10, 20, or more years ago?

The truth is that despite much effort, corporate work environments – developed by and for men – continue to be defined by masculine rules of engagement. In multiple ways, so many women at work continue to feel like a square peg in a round hole.

Masculine and Feminine Behavioral Norms Diverge

To understand the disconnect, let’s begin with the well-researched premise that masculine behavioral norms are deeply linked to hierarchy. Men think in terms of competition and increasing their relative positioning, aka power and status. Dominance behaviors often define their approach.

Translated into the workplace, this looks like men bragging about their accomplishments – accomplishments that often are inflated. This looks like talking over others and mansplaining – talking without interruption – to control the floor or from lack of self-awareness. This looks like posturing and talking a big game to get the upper hand in a negotiation. This looks like sexualizing women – perhaps unintentionally – or intentionally with the goal of marginalizing them by seeking to ‘keep them in their place.’

Women have been socialized to equalize, rather than to differentiate, resulting in a predisposition to share rather than to concentrate power. Stephen Lukes, a sociologist who has written extensively about power, contrasts the approach of getting an individual to do something they may, or may not, want to do with a far more sophisticated and cooperative alternative in which both those who do – and do not – benefit from the status quo have agency to influence the system. Women tend toward the latter.

Translated into the workplace, this looks like sharing credit, even in situations where others played a small role. It translates into women being more soft-spoken and less likely to put someone on the spot. It translates into women focusing on shared goals, rather than power differentials, in negotiations.

The Rockefeller Foundation commissioned Korn Ferry to study women CEOs to learn how more women can make it to the top. What they found was, in comparison to their male counterparts, women CEOs demonstrated far more humility, were more likely to credit others as playing a central role in their shared success, and were significantly less likely to self promote.

Leadership = Men, Masculine Norms Prevail

Not surprisingly, leadership in the business world has been defined through the gender lens of masculinity, rendering women lacking. How many times has it been said, “she lacks gravitas” or “she doesn’t have enough executive presence to be a leader.”

Studies show that women are deeply drawn to a sense of purpose and meaning, often connected to helping others and to women’s vision of making the world a better place. A longitudinal study of more than 700 engineering students at premier universities found that a central reason so many women leave the engineering field was a disconnect between their drive to solve problems that make a difference in people’s lives and their workplace experience of corporate proclamations rather than demonstrated commitment to improving society. Similarly the Korn Ferry study reported women leaders were driven by a strong sense of purpose, perceiving their companies as positively impacting the world.

Research by the OECD [an organization focused on promoting policies that improve the economic and social well-being of people worldwide] and UNWomen show that when women have greater access to economic resources, they spend those dollars on things like health care and education, bettering not only themselves and their families but also their communities in the process. Yet in the business world, where cold, hard analytical thinking is king, male leaders denigrate women’s emotions, marginalizing women by characterizing them as ‘not tough enough to make the hard decisions’ or ‘lacking business acumen.’ Why then are men, driven by emotion as they make risky trades on the stock market and pursue questionable acquisitions, [most of which provide NO economic benefit to shareholders,], praised for their gutsy decisions and held blameless for failures rationalized as the cost of doing business?

For most professional women, advancement is very important but, it is not their only goal. Thus, they are more likely to forgo an opportunity that does not fit into the big picture of their life at that time. Commitment and hard work are not an issue for women but the all-in, all-the-time definition of leadership that prevails is.[i] How many women start their long workdays having already fed their children, thrown in a load of laundry, answered some emails, made lunches and maybe even started dinner? Yet women receive messaging that they aren’t committed enough!
Bain & Company’s 2014 US gender partity research found that while women start out with as much, or more, career ambition than their male peers, after two short years on the job, their career aspirations decline precipitously while men’s remain constant.

Why the big drop? Women continually encounter the masculine leadership norm of the ideal worker who is singularly focused because they have a partner who deals with all the rest. What if we stopped telling women they aren’t committed enough at work? And what if we start telling men that they and their loved-ones are paying the emotional price for their no limits, masculine leadership model?

To make matters worse, it seems that no matter how women behave, they just can’t seem to get it right. Women who meet stereotypical gender expectations of being nurturing and accommodating – are deemed likable but “not leadership material” – while women who are assertive get kudos for possessing leadership potential but also judged as lacking interpersonal skills. Leadership or likeability – it seems women can only pick one.

The Problematic Value Proposition for Aspiring Women Leaders

When women in the pipeline look up, they see struggle because of their gender, little support to figure it out, and the need to combat even greater – not less – gender bias with each step up the corporate ladder. Feminine behavioral norms are devalued and even when women behave like men, they’re still judged lacking. Why then are we surprised when women don’t say, “Please sign me up for more of that?”

McKinsey and LeanIn’s 2017 Women in the Workplace report captures the struggle. Women progress at a slower rate than their male colleagues, despite asking for promotions at comparable rates and being no more likely to leave their companies. In fact, men report they are more likely to receive raises and promotions without even having to ask. Women in the study were nearly 5 times as likely as men to report gender played a role in their chance for a promotion or raise. Is it any wonder why women lose optimism in their career potential?

While men are doing more at home than their father’s generation, women continue to disproportionately shoulder the load at home, in many cases enabling their partner’s singular work focus. And the cycle continues!

Meanwhile many men can’t even see that the playing field is tipped, essentially invalidating the lived experience of their women co-workers. It makes me think of the many women’s voices that have been twisted and silenced for so long when calling out sexual harassment. Finally in this Harvey Weinstein epoch, women are being heard.

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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Why Are Women Underrepresented in These Key Job Markets?

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Image via Shutterstock

By Tiffany Rowe

Our technological world is expanding at an astounding rate and jobs in the STEM industry remain in high demand. Those holding degrees in math, technology, engineering, and the sciences have, in many cases, their pick of lucrative and rewarding jobs. When you add an advanced degree in one of those subjects or in business then the opportunities are seemingly endless.

However, while the world as a whole is contributing to advancements in these areas, the people who secure these jobs are overwhelmingly men. Women are represented equally in some of these fields but engineering and computer science degrees are given to only about 29 percent of female undergraduates. University classrooms where STEM classes are taught are generally filled with male students. Some women are the sole representatives of their gender in these classes.

Many of us have long been told that this gender gap in these fields is related to the notion that girls receive less encouragement than their male counterparts to tackle these subjects during their lower educational years. While this can’t be proven, the simple fact that men far outnumber women in the STEM industries can’t be ignored.

While you may hear many different reasons why this occurs, we’re going to look at some solutions that can help women boost their power in the STEM job market and bring their unique talents to the industry.

Erase the Stigma

Many people erroneously believe that girls are not supported nor encouraged to take on advanced classes in mathematics and sciences during their younger years or that they’re not as capable as boys are. Factually this is untrue as both boys and girls show equal results on aptitude tests for these subjects.

Women and girls are more than capable of learning the fundamentals of higher mathematics and sciences when they’re given the opportunity. However, the stigma still exists that girls are less capable of excelling at these subjects than boys are. Younger children are experiencing less of this today than they were even just a few years ago, but young women in high school and college may still feel that these fields are not right for them or that they won’t succeed.

What Parents and Educators Can Do

While educational trends and how they focus on female students are changing, there are still many things that parents and educators can do to encourage interest in these subjects. Childhood curiosity knows no gender so if your daughter shows an interest in computers, math, or science do all you can to encourage that.

Learning how to write code comes very easily for younger children just as foreign languages do. If you’re an educator, encourage your school district’s administrators to implement these classes for children in lower grades. There has been a push to encourage more coding education, backed by the likes of Amazon, Google, Code.org, and more. As of just a few years ago, only 0.4 percent of college-bound women intended to major in computer science.

What Women Can Do for Themselves

Many women who have already attended university and achieved a degree in an unrelated field may think they’re now unqualified for any type of job in the STEM industry. Fortunately that’s not always the case. Many women who have undergraduate degrees in arts or humanities can take additional classes to better familiarize themselves with the fundamentals.

Earning online MBAs is a great way to get an edge in the industry. Advanced business degrees almost always include the option to narrow the focus of the program and these focuses do include some science and technology. Plus, innovations made in science and technology are useless unless the right person has the business and marketing skills to introduce them successfully to the public or direct them to the proper channels for further research and development.

It’s very easy to realize that, given the complex nature of our changing society and environment, that people with the technological skills and education to continue to make advancements for the benefit of society are invaluable. In fact, our lives and the lives of generations to come may depend on the technology we perfect and discover today. All of us can only benefit from having as many people tasked with solving complex problems as we can and that needs to include women. And with the right education, encouragement, and tools there’s no reason that can’t happen.

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Lean into Confidence

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women smilingConfidence is a big deal. It’s one of the biggest differences between men and women in the workplace. According to this infographic by Invisalign, women underestimate their abilities and performance even though their performance does not differ in quality from that of their male counterparts. It’s a common theme in the gender discourse. Men are overconfident in their abilities, while women struggle to advocate for themselves, particularly for things like equal pay.

And it shows. Women hold more than 50 percent of college degrees and more than 40 percent of MBAs, according to the KPMG Women’s Leadership Study, but less than 5 percent of Fortune 500 companies have female CEOs. Somewhere in the stretch between college and high-level positions, women get lost.

Young women enter the workplace full of confidence, with 43 percent aspiring to top manager roles. However, after a mere two years on the job, these levels drop to below 25 percent. There’s something that happens after women enter the workforce that steals away their enthusiasm.

It may be easy to say, “Yes, but women take a long break mid-career to have children.” Trust me – I have 3 kids, ages 4-8, and am compassionate for the unique type of stress working mothers face. Did having children require me to push pause on my career?Absolutely not.Does being an executive make me a better mother?For me, it does. My career completes me and sets a wonderful example of a strong woman for my three young boys.Recently, Marissa Mayer announced that she would not be taking a full maternity leave.I applaud her for being confident enough in herself to make that decision under intense public scrutiny.I have no doubt that her children are cared for and loved, and I am certain that her girls will grow up to be incredibly proud of the strong, female leader they get to call mom.

Leaders are created at a young age, and young girls aren’t encouraged to lead the same way that boys are. The “ban bossy” movement has been targeting this social phenomenon by giving parents the tools they need to embolden their daughters.

Of course, that’s all great for the women of the future, but what about us? What about those of us in the workforce striving to become CEOs of our own companies? We can’t wait around for the next generation to change what we want changed for ourselves.

If you feel as though you’re being held back in your career by a lack of self-confidence, do the following three things:

1. Define Your Own Success

Not everyone wants to be CEO of a Fortune 500 company. That’s ok. Maybe you want to grow your own company, or run a nonprofit, or be a mentor. It is important to define your own success early on in your career. Following a path predetermined by society will only make you unhappy in the long run. Really spend time thinking about your long-term goals.
This will ultimately make big decisions easier further on in your career. When you’re offered a new position, or you take on a new job, you can measure it against your long-term career goals and decide if it’s helping you move in the right direction.I was recently asked to run for Congress, and, as attractive as that may sound, it wasn’t compatible with my career goals.Not only did that make turning down that opportunity easier, it made me more self-assured in my decision.

2. Support Other Women

Women get a bad rap for not supporting other women. We’re sometimes envious of the way men can bond and connect in a way that women feel they can’t – we call it the “boy’s club.”
In reality, things aren’t actually as far off for women. Columbia Business School conducted a study and found that the “Queen Bee Syndrome,” in which women in power are more critical of female subordinates, is actually a myth.

Women do have a strong network that’s just as good as any boy’s club. Spend time cultivating your relationships, and support the women around you.

3. Stay Hungry

The best way to boost your own confidence is to excel at what you do. Never settle for just completing a task when you can blow it out of the water. Take on projects that are outside your comfort zone, and constantly work toward making yourself better.

Society is changing for the next generation, but you have to make change happen for you. Work at being self-confident, and others will be confident in you too.

By Melissa Beck

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Thought Leader: Deborah Lorenzen, Managing Director & Chief Operating Officer, Global Product & Marketing; State Street Global Advisors

Deborah Lorenzen 2To Deborah Lorenzen, talent is everything for a business’ success.

Since 2008, acquiring talent in the financial services sector has largely been a buyer’s market, where it’s been easier for firms to pick and choose the talent they want to bring in. Consequently, they haven’t had to spend as much time or effort making sure people are enthusiastic about joining the firm. But, says Lorenzen, savvy firms know they need to be prepared for the next cycle, which she calls the “War for Talent.”

“We can dramatically improve the front end of our hiring process, but we don’t spend enough time on it,” she says.To that end, she is currently focused on improving three different phases of the talent acquisition cycle.

Making Job Descriptions More Inclusive

First, she says that job descriptions need an overhaul, recommending that they be stripped of corporate speak and made more gender neutral. “Beyond articulating the job requirements, job descriptions are a marketing document, since they are read by hundreds of people who never even apply,” she says. “The majority of those who read them are people in my industry, and I want to leave them with a positive impression of my company.”

One remedy is tools that use an analytical perspective to identify which words attract which people by mapping the factors of a job description that ultimately led to a certain type of hire.

Entering existing job descriptions into the tool yields instant feedback, such as which words are likely to attract female or male candidates, which can then be used to incorporate more balanced verbiage. One lesser-known fact is that if your job description is filled with acronyms, research shows that men are more likely to apply even if they don’t understand the corporate jargon.

“We’re excluding large swaths of the population by how we word things,” Lorenzen says.

Maintaining Consistency Throughout the Interview Process

While competency-based interviews have become the norm, there is still a need to improve consistency. To that end, Lorenzen has helped create tools that lead to better interviews. Managers can quickly select the key competencies for the job they are filling, which brings up a set of pre-worded questions that will give them insight into candidates by prompting specific, measurable examples specific to that skill, such as “Give me an example of a time that you displayed teamwork.” For a trait such as global acumen, managers can choose different questions based on the depth of expertise required by the position level.

After key questions are chosen and position specific questions are added, the manager then can print out the job interview form and use it consistently with all of their candidates. “It allows them to compare apples to apples rather than having different experiences with different people,” she says. “The tools should be intuitive so we set our managers up for success.”

Pre-boarding for Success

In the United States, there is typically a two-week lag from when someone accepts the job until they actually start. In other parts of the world, people might have up to 90 days, a lengthy transition period when companies must engage with their future employees throughout the gap.

Among the support her division supplies are links to company information, “acronym decoders” and details on what to expect the first day. “This is about emotional engagement, so our new hires believe they have made the best decision of their career.”

For example, new employees will learn what to expect on the first day, and what activities to expect in the first 10 days. Setting expectations improves time-to-productivity, which is a key metric for the business.

Another key component of pre-boarding is discussing the wide variety of Employee Resource Groups available. “We want them to know that our company is proud of our diversity and whatever their gender, orientation, culture or background, there’s someone like them here already.”

Data Analytics Drive Decisions

In addition to a focus on better hiring, Lorenzen is immersed in technology infrastructure and data analytics. “Data is the key to understanding both our current environment and our next move,” she says. We can use data to identify products which are high performers and which aren’t meeting expectations, and track those products in real time.

Since decision science is a relatively new field, Lorenzen and her team are constantly tasked with finding the best talent. “They have to come in with diversity of thought, which comes from diversity of experience,” she says. “We must have a variety of perspectives in the room since there’s constant demand to improve the technology architecture.”

A Word for Women

Finally, Lorenzen believes that women have a special role in the industry to help others. And while she sees this as a responsibility, the rewards are mutual. “It gives me great joy to watch young people come up in the organization,” she says.

And she adds, there are few industries that are more competitive. “People are always going to be looking to take you out, but it’s not because you’re a girl, it is because you are competition. We need to raise our voices, as uncomfortable and dangerous as it can feel, when we see bias.” Why? Because for our businesses to thrive in this rapidly changing landscape we need the smartest, most innovative team we can muster, which by definition brings a diversity of thought to the table. This is an obligation for senior executives, including women.

The views expressed in this material are the views of Deborah Lorenzen of State Street Global Advisors through the period ended April 13, 2016.

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street express written consent.

State Street Corporation, One Lincoln Street, Boston, MA 02111-2900

© 2016 State Street Corporation – All Rights Reserved

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Men Who Get It: Bill Brucella, Senior Managing Director/Divisional Chief Information Officer, TIAA-CREF

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Bill Brucella“Take ownership of your career by identifying key influencers and mentors who can help you,” says TIAA-CREF’s Bill Brucella, who believes that women should develop their own brand, which can include advocating to get visible opportunities and taking on stretch assignments.

Brucella started his own career as a software developer more than 30 years ago. “I did that for five years before I figured out that there were more talented people in that space,” he says with a laugh, “but then I realized that maybe I could lead them.” He transferred into project management and quickly grew into other management roles all while staying in the tech space. Along the way, Brucella held a variety of positions that covered a breadth of IT roles – data center management, networking, systems administration and managing software development teams. Prior to joining TIAA-CREF, he was a senior vice president for a major software development firm. With 150 reports, Brucella managed consulting sales, delivery and data warehouse development for firms in the banking and brokerage industry.

Brucella’s move to TIAA-CREF was deliberate: having worked for technology vendors his entire career he made a quest to work for the end-user side and enjoy a better work/life balance. His new role as a development manager with a staff of 30 may have seemed like a step back, but it removed the travel and very long hours that had been so pervasive.

“I had a young family at the time, and I figured if I have to work 50 to 60 hours a week, I could at least be close to home” he says. In addition, he saw the career move as an interesting opportunity to become a subject matter expert in the fields of trading and portfolio management technologies.

Seventeen years later, he knows he made the right decision. He has since advanced into leadership roles with added responsibilities and is affiliated with a company that he is proud of.

“TIAA-CREF had a great reputation then, and it’s even better now in terms of how it treats its employees. It has always valued diversity and there have been so many cultural elements that are appealing. I knew it was a place where I could grow my career in a reasonable manner.” He mentions the company’s emphasis not just on results but how they are achieving them, ensuring that they have strong, positive relationships with both customers and employees, for example.

For Him, Diversity is Personal

Having worked primarily for women, Brucella has had excellent experiences, one of the many reason he cites diversity as being extremely important. He has also seen firsthand the fallout when gender diversity is not supported: Earlier in her career, his wife experienced sexual discrimination on the job, and he saw how damaging such a situation could be on one’s career when the incident was not resolved satisfactorily. Additionally, with a daughter about to graduate from college, he wants her to be acknowledged in the workplace for the skills that she will bring to the table. Diversity also dovetails with his religious faith, which is founded in treating everyone with fairness and respect and also acknowledges women with leadership roles.

Of course he also sees the benefits of diversity from a business case perspective. “I have always had women on my leadership team, and I find that you get a better thought process, more opinions and innovative ideas with diverse candidates and coworkers.”

That’s why he insists on a diverse slate of candidates, even extending a search if need be, and assigns high-visibility projects deliberately. “I am gender-neutral when it comes to projects and assignments and make sure everyone has an equal chance at these opportunities to build skills and relationships.”

Another area that he keeps in mind is flexibility, and recognizing that sometimes the majority of the work load at home falls on women. “I want them to know they are not disqualified because they have extra family responsibilities. It’s about focusing on the outcomes and not just the hours and the process.”

Advocating for Women

Brucella takes his roles as mentor and sponsor seriously, serving as executive sponsor to the company’s IT Leadership Council for Women and actively advocating for qualified women to be considered when leadership opportunities arise. He recently heard from a woman that he’d been mentoring and had worked with for several years. She wanted to be considered for a leadership role on an IT team, but couldn’t get an interview although Brucella was certain that she had the skills needed. He was able to reach out and urge the hiring manager to consider her as a candidate, and she ultimately got the job.

Another time he worked with a woman who wanted more public speaking opportunities, so he encouraged her to take a Toastmaster’s public speaking class and then placed her in situations where she could present to leaders.

“We need to be visible advocates for promoting women and diversity in leadership roles. I am committed to develop my team, and so I am available on an ongoing basis. Mentors have to be active.”

But most importantly, Brucella believes that encouraging diversity through mentoring is a two-way street. “It’s rewarding to see someone move up in their career, and climb that ladder when they realize that they can and they want to.”

Rooting Out Unconscious Bias

One of Brucella’s goals is to make it safe for people to challenge him; that if they feel they’re not being treated fairly, he has an open door and will accept criticism without being defensive.

“I want someone to ask me if there’s a reason they didn’t get an opportunity. The best way to counteract any unconscious biases that you or others have is to seek feedback.”

For example, recently, he distributed an article he’d seen on bias in the technology industry, and someone who worked for him said it resonated. He responded by sending the article to the larger team, and asked a women leader to gather feedback and help raise awareness by speaking up if they encountered any bias.

Brucella believes that at the end of the day, women should feel empowered to take ownership of their careers, build their personal brand and identify key influencers and mentors who can help them, while continuing to challenge leaders and peers to actively address bias in the workplace.

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