Why Women are Good for Business

Women in Business: A Win-Win Situation

September 22, 2014ColleenCompany News, Industry NewsLeave a comment

Women are good for business. It’s that simple. Yet, despite the fact that women make up roughly half of the world’s population, they have been historically underrepresented in leadership roles, holding scarcely more than 1 in every 5 senior management roles.

“Fully integrating women into a nation’s economic life is essential for a society to flourish. That is a message that our country, and other rich nations, have consistently sent to developing nations around the world.  And yet, here at home, we have somehow managed not to heed it.”

–Judith Warner, Center for American Progress

Why Women are Good for BusinessFast Facts: Women, Education & Employment

For over 25 years, women have outnumbered men on college campuses, earning nearly 60% of undergrad degrees and 60% of all master’s degrees.

Women earn:

  • 47% of all law degrees
  • 48% of all medical degrees
  • Over 44% of master’s degrees in business and management

With these impressive numbers, it’s easy to assume a large portion of women have risen to prominent positions in the workforce. In reality, progress has, in many ways, stalled.

Did you know?

  • A recent Pershing article says just 30% of financial advisors are women – with women advisors earning only 58 cents on the dollar compared to their male counterparts.
  • A 2012 Grant Thornton International Business Report found that women hold about 21% of senior management positions worldwide.
  • Only 16.9% of Fortune 500 board seats are held by women.

The substantial disparity between men and women in leadership roles is not exclusive to one industry:

  • In the financial services industry, women account for 54.2% of the labor force – yet only 12.4% of executive officers and 18.3% of board directors are women.
  • In health care and social assistance, women make up 78.4% of the labor force, but only 14.6% of executive officers and 12.4% of board directors are women.
  • In the legal field, though 45.4% of associates are women, just 25% are nonequity partners and 15% are equity partners.
  • In information technology, women make up a miniscule 9% of management positions.

How women benefit businessesHow Women Benefit Business

Numerous studies have proven that women have a significantly positive effect on business. Let’s take a look at some powerful stats on the extraordinary impact women can have in business:

  • Some studies have discovered a link between greater gender diversity in senior positions and financial success.
  • European firms who had the largest proportion of women in leadership positions watched their stock values soar by 64% over two years, compared with an average of 47%.
  • Profits at Fortune 500 firms that strongly promoted women were 34% greater than industry medians.
  • Teams with more women are rated higher on “collective intelligence” than teams with less women.
  • When a Fortune 500 company has at least 3 women in leadership roles, they enjoy a 42% increase in return on sales, 53% increase in return on equity, and a whopping 66% increase in ROI.

Insider Secrets to Gaining Your Seat at the Table

My upcoming free training call, Insider Secrets to Gaining a Seat at the Table, will show you how to boost your chances of becoming a respected, admired, and recognized emerging female leader.

This informative, engaging training call will focus on one key element of my signature BOLDER® system – the letter “L”. You will learn what’s holding you back from making your greatest achievements yet – and what you must do to start accomplishing your professional goals.

I hope you’ll join me on Tuesday, September 23rd, 2014 at 2PM ET for this value -packed free training!

Body language for women

Strike a Pose: Body Language Strategies to Help You Claim Your Power

September 17, 2014ColleenIndustry NewsLeave a comment

When the eyes say one thing, and the tongue another, a practiced man relies on the language of the first.
-Ralph Waldo Emerson

In the boardroom and far beyond, our bodies speak a language all their own. Body language, sometimes referred to as nonverbal communication, has been said to make up about 65% of all interpersonal communication.

As humans, we’re influenced not only by the body language of others, but by our own. For this reason, understanding more about nonverbal communication can help us in a myriad of ways to be more effective, authentic leaders.
Body language for women

Actions Speak Louder than Words

Harvard Business School professor Amy Cuddy shares that during observation of MBA students in the classroom, some students shrink into their chairs, as if to become invisible. Women are far more likely to do this because they generally feel less powerful than men.

Certain “power poses” can quickly change your body chemistry – and alter the way others perceive you, as well as how you actually perform. Just standing in a power pose for a couple minutes before an interview can actually help you ace it.

If you often find yourself shrinking into the invisible woman, try these simple strategies to help you reclaim your power:

Take a stand

In The Definitive Book of Body Language, authors Allen and Barbara Pease claim that a person who conducts a meeting while standing is seen as having a higher status than those who sit.

According to Forbes.com contributor Rob Asghar, the following simple stance can make you feel more powerful – and make you seem more powerful to others: Stand with your feet a bit wider than your shoulders, then put your hands on your hips. Now, “squinch” – squint your eyes very slightly, pinching and raising your lower eyelids up a bit.

If you’re having trouble mastering the “squinch”, just stand with your feet spread apart and your hands on your hips, otherwise known as the “Wonder Woman” pose.

The World is in Your Hands

In his book What Every Body is Saying, author Joe Navarro suggests that steepling your hands indicates that you are highly confident in the message you’re about to deliver.

If you’re unfamiliar with steepling, all you have to do is bring your hands up and touch your fingertips together. It’s sort of like a prayer position, except that only your fingertips touch – not your palms.

Steepling is often perceived as a male gesture – when women steeple, they often do so lower than men. At meetings, women will often steeple under the table – if you do this, take your steepling to the next level – above the table!

If you talk with your hands, try to keep your fingers closed and your hands below chin level to command the most attention. When people open their fingers while talking with their hands or move their hands above the chin, it’s perceived as less powerful.

Claim Your Space

If you’re sitting in a chair, keep your elbows out or on the arms of the chair. Individuals perceived as timid, shy or submissive often do the opposite – they keep their elbows in as a way to “self-protect” – and are perceived as fearful in the process.

If you want to really strike a powerful pose, sit down in a chair in front of your desk. Lean back in the chair, put your hands behind your head, and position your feet comfortably on the desk.

Do you want everyone to know you’re running the show at the next board meeting? Stand up, place your hands palms down onto the surface of the table and lean forward, claiming your space.

At the end of the day, everyone deserves a break. Take yours by relaxing into this power pose – whether you’re lying on a couch or sitting in a chair – stretch out your arms or legs, keeping an open posture.

Fake it ‘Til You Become it!

Maintaining certain power poses for just two minutes can lower your stress hormones and boost testosterone. Many studies have indicated power poses can increase your abstract thinking, help you perform better in meetings and interviews – and even increase your tolerance of pain!

Our bodies change our minds… and our minds change our behavior… and our behavior changes our outcomes.
-Amy Cuddy

Want to learn how you can start embodying your power through your body language? Apply for a Bolder Moves Discovery Session. Or, contact me via email or by visiting my website, BolderMoves.com, anytime!

Female leadership in Europe still lags behind male counterparts

May 27, 2014ColleenIndustry NewsLeave a comment

Female leadership in europe lags | Female leadership in Europe still lags behind male counterpartsOn April 14, 2014, the European Commission released their 2013 study on progress of gender equality in the workplace. The EU, through the Strategy for Equality 2010-2015, is seeing positive results from this campaign, but European men continue to earn 16% more than women.

Although women in Europe have made significant advances over the last fifty years, they continue to be employed at lower rates than men, with lower salaries. Additionally women are underrepresented in political positions, despite being better educated than their male counterparts. If Europe is going to remain competitive as a region and economically viable in the world, it needs the contributions of its women, more than just from an ethical and equality standpoint. The birthrate in Europe continues to decline, which will shrink the available workforce. Yet the demands for workers will remain the same.

In 2007, a comprehensive study of female participation in the workforce in Europe was conducted by the German office of McKinsey & Company, a global management and consulting firm. (Link to http://www.mckinsey.com/) Comparative data from 25 European countries was analyzed to provide some insight into the continued disparity between men and women in leadership roles in the work place and political environment.

The 2007 McKinsey & Company study examined some of the key reasons that European women continue to earn less and hold fewer leadership roles than men.

Key takeaways from the study:

The study assessed that inequality continues to persist because of:
  • Entrenched beliefs and pervasive “myths” about work and family (cultural norms)
  • Structural barriers (disincentives in tax codes, not enough flexibility)
  • Under representation of women in senior leadership roles and politics
  • Financial gap between men and women
Significant barriers to women working include:
  • Childcare (cost or inaccessibility)
  • Burden of caring for children and elderly (inflexible work schedules)
  • Taxation that de-incentivizes going to work (no tax breaks for childcare)
  • Perceived career disadvantage for mothers

 

The EU Strategy for Equality 2010-2015 is focused on implementing changes to reduce many of these barriers and increase the rate of employed women to men. As a result, 63% of women are currently in the work force. Funding has been allocated specifically to promoting women in the labor market and to better and more child care facilities, among other initiatives.

One of the more successful elements of the EU Strategy for Equality 2010-2015 is the increase of women serving on company boards. In 2010, women only comprised 11% of company Boards, but in 2014, that has increased to 17.8%.

Despite the successes of the EU strategy, women still face obstacles to working and remain behind their male counterparts. The McKinsey & Company study concludes that it will be necessary for governments, companies, and men and women to work together to remove these barriers.

The Power Of Social + Emotional Intelligence

April 4, 2014ColleenIndustry NewsLeave a comment

A study conducted by Michelle McQuaid and published in Business Wire found that of 1,000 Americans surveyed, just 36% were happy at their job and a whopping 65% would choose a new boss over a pay raise.

McQuaid, a leader in positive psychology workplace interventions, says that the current situation in American workplaces not only takes a substantial personal toll on employees, but it costs $360 billon yearly in lost productivity.

Of the 1,000 Americans polled,

  • 60% said they would do a better job if they had a better relationship with their boss
  • 47% say their boss does not stay calm and in control
  • 31% feel uninspired and unappreciated by their boss
  • 20% say their boss has little or no integrity
  • 73% of those in their 20s and 30s and 40% of those over 50 said their health is compromised because of the impact of a bad boss

What is Social + Emotional Intelligence?

Emotional Intelligence | EI | IQ | EQSocial and emotional intelligence is defined by the Institute for Social + Emotional Intelligence as the ability to be aware of our own emotions and those of others, in the moment, and to use that information to manage ourselves and manage our relationships.

When it comes to intelligence, the IQ part (cognitive intelligence) is only the tip of the iceberg. Social and emotional intelligence (S+EI) is not just about being a nice person.

Emotional intelligence is about personal power – an inner confidence that an individual has that she can handle whatever curveballs life throws her way.  It’s about an inner self-confidence and positive self-regard, appropriate assertiveness, and integrity.

Social intelligence is about building trust and forming bonds. Social intelligence is about connecting to people and understanding them to build stronger relationships.

Many organizations often overlook the value of social intelligence.  And, employees sometimes don’t realize the difference social intelligence can make in career advancement.

The Impact of Social + Emotional Intelligence

It’s not difficult to see that the powerful impact social and emotional intelligence can have in the workplace.  The key to integrating social and emotional intelligence in the workplace involves an assessment (which generates awareness), training programs, introducing the concept into the culture, and individual development programs (coaching).

Social and emotional intelligence is key to the success of an organization.  As important is S+EI is for an organization, it’s equally important to individual well-being.  Whereas social intelligence encourages the individual to be aware of their environment and the needs of others, emotional intelligence asks the individual to examine their own behavior to implement the best choices.

Social and emotional intelligence is not about changing personality – it’s about changing behavior – because behavior is a choice.  Social and emotional intelligence coaching encourages individuals to examine their behavior and make different choices.

Psychologists tell us that personality is formed by the time a child reaches 6 or 7.  Over the course of the individual’s lifetime, personality remains mostly unchanged.  Behavior is influenced by both environment and personality.

When we build social and emotional intelligence in the workplace, we create stronger leadership and ultimately, a more productive, rewarding, resilient environment.

In 2014, Women a Growing Part of Workplace Vision

February 6, 2014ColleenIndustry NewsLeave a comment

Women of the WorldThere is a difference between hiring for diversity’s sake and hiring a diverse staff in order to improve the effectiveness of an organization. The bottom line is this: companies with women on their board of directors are by and large more financially successfully than those without. If you’re looking to up your profits, hiring women in executive positions is the way to start.

There are three ways to get women moving up the corporate ladder.

  1. First, we can provide formal mentoring programs within the company. Whenever there is an internal conference, training hours, or even an employee-driven focus group, women are almost guaranteed to be the lesser-represented sex.  Moreover, women also tend to be seated together – not necessarily in a conscious show of solidarity, but simply because women are more likely to be taken seriously by other women. Both of these points hinder communication across gender lines, which can decrease a company’s effectiveness and also put a stop to promotions of women leaders.
  2. Second, companies can provide internal development opportunities. As the number of senior women in the corporate world is limited, it would serve us well to begin utilizing those few in a formal role model capacity. This would not only increase employee loyalty to a company, but also better prepare women to move into a supervisory or upper managerial capacity.
  3. Lastly, too often a company will seek out upper-level executives from rival companies, as opposed to recruiting those who are already familiar with corporate goals and policies. There are capable women within your organization who are ready to move on up within your organization. The time investment on the part of the employee and the employer is often too great to be ignored when searching to fill board positions. Why waste an employee that has proven growth potential to outsource execs?

Authentic Leadership International, LLC believes in an effective workplace and believes in women being a part of that vision. Let us help you to maximize your efficiency and diversify your workforce by tapping into an often passed-by opportunity: the women already fueling your organization.

Source: http://www.businessinsider.com/how-companies-can-advance-women-in-leadership-2014-1