The Power of Women's Leadership

Guest blog by Renee' Aloisio and Kate Kennedy. As one of the state delegates to Vision 2020, I have enjoyed working with them and the other amazing women who are part of this effort. Thanks to GoLocal for the original.

As the Rhode Island economy plods along its slow recovery, our state's businesses continue to seek out any kind of competitive advantages to get ahead. One such advantage that has been widely documented and reported is the power of women's leadership. Some companies are making serious investments in this area, while others have yet to take full advantage of the opportunity.

Research indicates companies led by women or with a higher representation of women board directors experience higher financial performance. The correlations are found across industries ‒ from consumer discretionary to information technology. Here in Rhode Island, women currently make up 48% of the workforce, and many women can be found in entry- and mid-level management positions. But when we look at the top levels of management, executive officers hover at somewhere just above 10% and board seats are filled by a slim 16%. A clear indication that we can and should be doing better.

Vision 2020 Rhode Island's upcoming report, Women, Leadership and Wages, reviews the findings of a survey conducted with 22 of the state's largest not-for and for-profit businesses. The survey is focused on initiatives and best practices that advance women, such as commitment to women’s leadership, advancement of women into senior leadership, wage equity and women on boards. The report also examines obstacles and barriers to advancing women into leadership.

The findings at times fall below where we would hope Rhode Island businesses could be: for example, only 23% of for-profits and 1% of not-for-profits surveyed have a clearly defined strategy and philosophy for the development of women into leadership roles. However, some best practices are being utilized to advance women, such as requiring a diverse slate of candidates for executive searches and conducting wage equity audits that look for inequities in compensation between men and women serving in the same position. This report can and should be used by for-profit and not-for-profit leadership teams, human resource departments and board of directors to spearhead meaningful conversations for improving the advancement of women in their organizations' leadership team. The real benefits of paying attention to these measures ‒ short and long-term, financial and workforce ‒ can offer an alternative for contributing to companies' competitive positions and thus Rhode Island's economic growth.

On behalf of Vision 2020 RI's Corporate Sub-committee, we invite members of the business sector and other interested parties to attend and hear more about the report's findings at Leading Women's breakfast, The State of Women's Success, being held on September 11th at 8:00 at the Crowne Plaza in Warwick. We appreciate the willingness of companies who participated in the survey, and we urge all members of the business community to participate in ongoing research to share successes and challenges in advancing women's leadership as we work together to advance Rhode Island's economy.
Vision 2020 was developed by the Institute for Women's Health and Leadership at Drexel University College of Medicine to make equality a national priority through shared leadership among women and men. The organization’s goal is to advance women’s equality before the landmark 100^th anniversary of women’s suffrage.

Renee Aloisio is Director of Internal Operations at LGC&D and Kate Kennedy is the Executive Director of Rhode Island Business Group on Health.

The report, Women, Leadership and Wages will be available online at www.leadingwomen.biz and at www.wfri.org on September 11. Hard copies will be distributed at the event.

Lead ON!
Susan   
Susan Colantuono is CEO of Leading Women and author of No Ceiling, No Walls and Make the Most of Mentoring. Follow her on Twitter |  LittlePinkBook  |  Facebook  |  Google+  |  LinkedInGroup |  LinkedIn

Develop Top Talent - Challenge Managers' Mindsets

Following up on our blog about the Final Frontier for Women's Advancement check out our new video.

Managers have mindsets about women and men, about leadership and careers. Many of these mindsets create barriers for women and get in the way of developing top talent. Helping managers take action to minimize gender barriers is the new frontier in women's advancement -- and one that Leading Women is uniquely positioned to address.

For decades we've tracked over 15 gender-based mindsets. Our research tells us that the impediments created by these mindsets differ by country and corporate culture. With this knowledge we work with you to identify the barriers most prevalent in your business locations and prepare managers to make more equitable and effective talent decisions.

Read more about gender dynamics and ways the mindsets of managers create barriers to women's advancement here.

To explore the ways Leading Women can support your efforts to develop top talent and remove barriers to women's advancement, email us at info@LeadingWomen.biz or call us in the U.S. at +1-401-789-0441.

Lead ON!
Susan
Susan Colantuono is CEO of Leading Women and author of No Ceiling, No Walls and Make the Most of Mentoring.
Follow her on Twitter |  LittlePinkBook  |  Facebook  |  Google+  |  LinkedInGroup |  LinkedIn

Curiosity, Mars and the Final Frontier for Women's Advancement

Curiosity Exploring Mars

In the past 40 years, corporations have tackled the challenge of women's advancement by working diligently on two fronts.

1. They have worked on the women. They help women set career goals and tell them what skills they need to enhance in order to get ahead - leadership, self-promotion, negotiation and more. 
2. They have worked on corporate practices and policies. Instituting open job posting, mentoring programs, flexible work, day care options, maternity leave options and more.

And they've gotten each of these areas about 66% right. As a result, women have made great strides into middle management. But they have not made great strides into senior leadership. One reason is what I call The Missing 33%™.

The Final Frontier

This week's landing on Mars by the ship Curiosity suggests this fitting metaphor for what hasn't happened in organizations since the early years of the feminist movement. Companies have shied away from the final frontier - i.e. helping/requiring managers to understand how the mindsets they hold can negatively influence talent decisions about women. And to take action to stop the negative consequences of their mindsets. 

Most companies have avoided doing this work in spite of repeated studies such as the recent McKinsey report that said,

“Of all the forces that hold women back…none are as powerful as entrenched beliefs. While companies have worked hard to eliminate overt discrimination, women still face the pernicious force of mindsets that limit opportunity…."

In other words, the mindsets that people managers hold have a subtle and gradual negative effect on women’s careers. 

We've been tracking over a dozen mindsets that wreck havoc with women's careers. Many of them (such as the culture of merit versus culture of self-promotion) have been turned into advice for women to change (e.g. get better at self-promotion). But this is only half of the solution - and we've seen after decades of this advice handed out generously that it hasn't solved the problem. The other half of the solution is to ensure that managers understand how their seemingly neutral (and in some cases benevolent) mindsets negatively impact women. Even though barriers to women's advancement are now semi-permeable membranes as opposed to glass ceilings, mindsets act to filter men through much more easily than women. 

Exploring the Final Frontier

Here's an example of what I mean. I worked with an executive team responsible for over 30,000 employees worldwide facilitating a discussion about actions they could take to minimize the adverse impact of mindsets on women's advancement. During the discussion, one of the women made the point that trust was very important to her in selecting candidates. A few minutes later, one of the men made this observation,

"Trust is very important for me, too. Trust is earned when I've known someone over time. What I just realized is that when I was in engineering school, there were no women in my classes. So that means that there are no women that I consider among the pool of trusted colleagues that I look to for candidates."

In his case, this seemingly neutral mindset - trust is important - has a substantially adverse impact on women's advancement. Luckily he realized it and will be able to consciously act to remedy the impact.

Recently Catalyst reported that a more inclusive culture can be achieved when white men are engaged as champions of inclusion. At Leading Women, we've begun to see the concrete impact of the gender dynamics work we're doing with women and men from around the globe. If the feedback from the diverse executive team cited above is any indication, their exploration of mindsets/gender dynamics will make a significant difference.

Is your company curious about or exploring the final frontier of women's advancement? Or, do you have similar initiatives underway? Please let me know.

Lead ON!
Susan
Susan Colantuono is CEO of Leading Women and author of No Ceiling, No Walls and Make the Most of Mentoring.
Follow her on Twitter |  LittlePinkBook  |  Facebook  |  Google+  |  LinkedInGroup |  LinkedIn