—That Gender Gap Is A Gender Grand Canyon! 
 
 
It seems logical to me that if women are responsible for the selection and purchasing of 80% of our consumer goods, then the number of women on corporate boards should be a major consideration. What do you think?
 
In case that 80% figure stunned you, here are a few more:

• Women purchase 60% of cars, and influence 90% of purchases
• Women make 80% of all health care expenditures
• Women select 89% of new bank accounts
  
• And according to Tom Peters, women purchase 80% of all riding lawn mowers

Looking at the boards of the Fortune 500 companies, what percentage of seats do you think you’ll find occupied by women?
 
A Catalyst report for 2007 gives the figures, and they’re not pretty. If you thought 50%, you were too high. If you thought 40%, you were probably thinking about Norway!  Apparently, the government there thought it was important enough to mandate that publicly traded companies have at least 40% women on their boards—and now they do. Don’t even bother guessing 30% for the U.S.—still too high.
 
If you look at who’s sitting in the board seats of the Fortune 500 companies, only 15% are occupied by women. (14.8% to be exact.)
 
Of those 500 huge companies, there are 59 with no (yes, I mean Zero) women on their boards, and there are 186 with only two women. All of us need to take an active role in changing this dismal picture. Look into the 59 companies with all-male boards. You may even list them in the comments section of this blog. Do you buy products from any of these companies? I betcha do. Write a letter addressed to the CEO of the company. Let him know (in this case, you wouldn’t expect to find a her) . . . that you know . . . and that you’re telling your friends!
 
What possible changes can women bring to the table—the board of directors’ table? How about an increase in the bottom line? A recent Harvard Business Review article presents the finding of Professor Roy Adler of Pepperdine University in California. He tracked 215 Fortune 500 companies, comparing their financial performance to industry medians and found that “companies that smash the glass ceiling also enjoy higher profits.” A Catalyst study found similar results for companies with the most gender diversity in upper management—they performed better financially. Nearly everyone is careful to say, “There’s no theory as to why this is the case,” but in business an increase in the bottom line and an increase in return on equity are good reasons for doing business in the first place.
 
A Fortune 1000 study conducted by research scientist Sumru Erkut, Ph.D. “found that a critical mass of three or more women can cause a fundamental change in the boardroom and enhance corporate governance. Women bring a collaborative leadership style that benefits boardroom dynamics by increasing the amount of listening, social support, and win-win problem-solving. Although women are often collaborative leaders, they do not shy away from controversial issues. Many of our interviewees believe that women are more likely than men to ask tough questions in the boardroom and demand direct and detailed answers. Indeed, as one male CEO put it, ‘the men feel a gender obligation to behave as though they understand everything.’ Women also bring new issues and perspectives to the table, broadening the content of boardroom discussions to include the perspectives of multiple stakeholders. Women of color add perspectives that broaden boardroom discussions even further.”
 
After the failures of WorldCom and Enron, I think the public is ready to welcome tough questions women tend to ask, such as, “Why is the CEO’s compensation so high, and who approved and dated the options?”  I know, I know, those pesky questions. Those are the questions the former employees and former stockholders wish someone had asked in the boardroom!
 
 
Tip:
Following my tip this week will do a lot toward making changes for women in business. Cite the facts from the Harvard Business Review and Catalyst. Let other people know this information. Keep track of Fortune 500 companies who still have no women (or less than 3 women) on their boards. Is there one company that surprises you or that interests you? Single it out. Let others know. Let the company know that this does not bode well for their corporate image. Financial incentives along with public image should be enough to bring about corporate change without government decrees.
 
P.S.
Shame on these companies, having No women on their boards:
 
Toys ‘R” Us — Come on women, don’t you shop there, or all the customers men?
 
Apple — I’m now looking at my iPod and my MAC computer with less fondness. Come on Steve Jobs, nab someone like Ann Winblad for your board.
 
News Corp. — #88 out of the Fortune 500 —an important company with television, film and newspapers. A lot of women watch American Idol, one of your shows.
 
Countrywide Financial — Perhaps if you had 1 woman on your board, someone would have asked the pesky question: Why is the CEO getting so much money when we’re about to go under?
 
NVR and Sempra Energy – two of our largest utility companies. Hmmm.  
 
 
 
Further Reading:
 
Blog, Women’s Lunch Talk, by Nancy Clark, How Successful Women Use Power—Hint, It’s Not An End In Itself
 
Podcast (always less than 10 minutes), Working in Heels, by Nancy Clark, Episode 1 – Listen To This First —See Why The Time Is Right For Women In Business
 
Website, WomensMedia, by Judy B. Rosener, Ph.D., Women on Corporate Boards Make Good Business Sense
 
YouTube, Women Directors on Corporate Boards – the Norwegian Case.
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Tags: corporate, boards, gender, gap, working, women, business, career, Norway

Do We Still Have A Glass Ceiling Because of Stereotypes?
 
 
I think we have a problem at work, but just in case I’m exaggerating, I’ll give you the statistics and let you decide.
 
In the beginning, or at least for a very long time, women have been 51% of the population. In 1950 women made up only 29% of the workforce. Today women are half our workforce (46.5% to be exact). Half of our midlevel managers are women—that sounds fair to me. But, and here’s the big but, women are only 15% of the top two tiers in the Fortune 500. So let’s do the math: Men are 85% and women are 15%. That’s a huge difference—discrepancy—handicap. At least in my mind it is. How do you feel about this? (Your comments are important to me.)
 
What do you surmise is the reason for the 85-15 Handicap? By the time a woman makes it to middle-management, she’s probably already started a family and has learned to handle those outside-of-work balancing acts. She has the knowledge, the experience, and the desire to advance, but in most cases, is held back by a glass ceiling.
 
Why is this? At first glance, you might think that the way women act and talk are the culprits. Well, we gave the “talk and walk like a man” advice a go and we were quickly labeled barracudas, or worse. It wasn’t what was expected of a woman—it didn’t fit our stereotype of a woman.
 
Are stereotypes the culprits? Recent research by Catalyst and a number of universities show an interesting (I mean depressing) result: Changing the names on resumes from male to female gave distinctly different results. Catalyst says:  The stereotyping of U.S. Business Leaders can be summed up as Women “Take Care”, Men “Take Charge.” 
 
Stereotypes are so ingrained that their effects are everywhere and at the same time are usually invisible—unless someone points them out. Well, we have one to point out. I usually try to stay out of politics, but there’s a great example under our noses. One of our presidential candidates—a woman—recently got teary-eyed at a minor coffee get together in New Hampshire. Headlines blared “The Moment” across the nation. Jokes abounded: How could we count on her to lead us? Prior to that, a male presidential candidate got even more teary-eyed on Meet the Press, and hardly anyone mentioned it. Why do we treat men and women differently? And why does it usually remain invisible?
 
We have to start shining a light on these examples as they occur. There are many other things that can be done, as Professor Hilary M. Lips of Radford University points out:
 
“Organizations can strive to avoid isolating women as tokens in male-dominated departments, where their gender becomes the defacto explanation for any perceived misstep.  Established leaders can endorse and legitimate women who seek or attain leadership roles. Opinion leaders such as journalists can cultivate sensitivity to the possibility that they are setting different standards of likeability and other interpersonal qualities when they publicly critique male and female leaders.  As individuals, we can examine our own criticisms of women leaders for telltale signs that we are expecting the impossible—imposing the double-bind of contradictory expectations.”
 
As more women break the glass ceiling, we’ll have more role models who will challenge the stereotypes. Meanwhile, if you’re a woman and you’re in the workforce today, you need to do a balancing act. Since you’re expected to show you care, heed my tip of the week.
 
 
Tip:
 
This tip is good advice for a man as well (although it’s not as necessary). I want you to make 2 lists. On the first, list all the people you work directly with. Decide how often you should make a point to chat with them about how they’re doing—and how you’re doing. Put a note on your calendar to remind you. In the past (when most managers were men—ah, progress), business books advised you to not discuss any nonbusiness-related concerns. If a female manager takes this stance she gets the “uncaring” demerit.
 
The second list is for those people who are not direct reports but could help you with your management skills. Check in with them periodically to see how they’re doing, to tell them how you’re doing, and to ask them to advise you on what you could be doing better.
 
Now get out there and chat—I should rephrase that—now get out there and play office politics like a pro!
 
 
Further Reading:
 
Podcast (always less than 10 minutes), Working in Heels, by Nancy Clark, Gender Stereotypes Hold Women Back —Those Little Put-Downs Really Do Add Up!
 
Blog, Women’s Lunch Talk, by Nancy Clark, Powerful Communication For Women —How To Change “I Speak Like A Girl” to “I Know What I’m Talking About”
 
Website, WomensMedia, by Hilary M. Lips, Women and Leadership: The Delicate Balancing Act

 
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Tags: gender, gap, leadership, working, women, business, career

How To Decide What You Really Want In The Future
 
 
“It is a terrible thing to see and have no vision.”
—Helen Keller
 
 
Last week I talked about Leadership For Women. One component of a good leader is having a vision for the future of the company. On a personal level, each of you needs a vision. What do you want to achieve? What will make you happy? Your choices on both levels, the corporate and the personal, are very important and very easy to botch.
 
The mystery is:  How do you select your vision? When a businesswoman comes to WomensMedia for coaching she often doesn’t know what she wants to achieve. She may say, “I’m not happy with my job. If I were promoted one-level up, I’d be happy.” or “If I had more prestige at work, I’d be happy.”  These are the types of things that Conventional Wisdom tells us will make us happier. You know I love to look closely at Conventional Wisdom . . . because it’s so often wrong and we all buy into it!
 
We’ve all seen those visual puzzles that change as we stare at them, showing us that we can’t always trust what we see at first. You also have an understanding that as we’re concentrating on one task, we may not be aware of something else that’s happening near us. What I’m leading up to here is that we have an inkling that our view of reality is not perfect, but what about our view of the future? Are you positive you know what will make you happy in the future? Guess what—you’re probably wrong! But wait. There’s a solution.
 
If you’re like most people (myself included) you’re saying, “You don’t know me! I’m different from most people. I’m smarter than most people. I know what will make me happy.”  In a case like this, the only thing that will make me take notice of a possible error on my part is to see what science says.
 
Scientists Gilbert and Wilson (Cambridge University Press) put their research into words we probably don’t want to hear:
 
“Much unhappiness … has less to do with not getting what we want,
and more to do with not wanting what we like”.
 
They maintain, and I agree, we miswant when we think getting a new car, or that big TV, or a new partner is what we need to be truly happy.
 
The research says we often err when we think about the future—and it also says the things we’ll regret most are the chances we didn’t take—the opportunities we let slip by. If we take a chance and it goes badly, we don’t realize how powerfully we can concoct rationalizations that sooth us back to normal. I told you I’d be giving you a solution . . .
 
But first, I have to recommend a book, Stumbling On Happiness. No, it’s not my book. And, no, I’m not profiting by telling you to buy it. I believe you’ll be better off by giving it a good read and a good think.
 
Of course you haven’t had time to get the book yet, but I’m still going to tell you the solution. I’m not ruining the book for you because if you’re like most people (moi aussi), you need to reinforce an idea over and over until it becomes “part of your wardrobe.”
 
The million-dollar solution is that you need to find people who are living the dream that you think will make you happy in the future. Talk with them about how happy, or unhappy, they are right now. What are the pluses? The drawbacks? Are you surprised with the answers? (Think of all those lottery winners who are no better off.) Do you need to interview more people? Do you need to rethink your vision?
 
Science has shown (and I believe it) that we’ll increase our odds of selecting a future vision that will make us happy if we rely on what others feel today. And who doesn’t want to increase her odds?
 
My tip of the week is going to get you started using your newly increased odds.
 
 
Tip:
 
The first thing you have to do is very easy: Get a blank piece of paper.
 
List 3 end goals you think might make you happy—for instance, CEO, Executive Vice President, Marketing Manager, small business owner, independent consultant, author, speaker—you get the idea.
 
Now list 3 people you could interview for each goal. Decide how to approach each one. Remembering that these are probably busy people, you could send an email introducing yourself and asking for a brief telephone (or in-person) conversation for their career advice.
 
Now get out and run with those increased odds of success!
 
 
 
Further Reading:
 
Podcast (always less than 10 minutes), Working in Heels, by Nancy Clark, Women, Risk-Taking Can Be Good For Business —Enjoy Some Risk-Taking—It’s Good For Business
 
Blog, Women’s Lunch Talk, by Nancy Clark, Leadership For Women —How To Make The Jump From Manager To Leader
 
Website, WomensMedia, by Dianne Schilling, Eighteen Keys to Success —One of These May Unlock a Door for You!

 
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Tags: working, women, business, career, vision, happiness, success