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Posts Tagged ‘business’

Person Power

The Catalyst Canada Honours dinner was in every way a celebration of champions. The stars of the evening, of course, were the three champions: Michael Bach, Jennifer Tory, and Monique Leroux.

But setting the tone for the evening was the challenge for each of us to be a champion of change in the workplace.

As I prepared my own remarks for the event, I recalled stories I had heard recently from two different women. Anne Drinkwater, President & CEO of BP Canada, told of an advocate who had spoken up for her when others were suggesting that a leadership role in Indonesia was just too tough for a woman. Her sponsor was successful in opening the door for her and changed the course of her career.

In India, I met Sasha Sanyal from Genpact. Like many women, she was the one questioning her readiness for a bigger role in the company, while her sponsor expressed his confidence in her ability and assured her of his support. Today, she has built a successful career with the help of this active, supportive advocate and sponsor.

Over and over, we hear from successful business people about a life-changing intervention by one person who believed in them and encouraged them to believe in themselves. Sponsorship is emerging as the critical factor in career advancement. The advocacy of a powerful member of the corporate leadership can determine who is taken seriously as a leader, who gets plum assignments, who gets promoted, and who gets better compensation.

Businesses have made great strides in establishing mentoring programs for women, but when it comes to sponsorship, with its power to change career trajectories, women still are not on the radar.

But that can change.

Last night, I challenged each of our dinner guests to change someone’s life by becoming a sponsor, speaking up on behalf of someone who has earned the opportunity to prove herself, and supporting her to success.

Today, I’m extending that challenge to Catalyst Canada friends and supporters across the country. Think about the people who changed your life with their confidence and advocacy, and honour them by finding someone who has earned your sponsorship.

On a closing note, if anyone has any doubt about the power of individuals to change society, October 18th was also Persons Day. In 1929, as the result of determined effort by five persistent women, Canadian women were finally deemed to be persons with the right to sit in the Canadian Senate. They changed the lives of every woman who followed.

You may not change the country, but your sponsorship will change someone’s personal story forever. And that’s a legacy to celebrate.

 

Celebrating Women in Film

If it’s September in Canada, there must be a film festival somewhere! Vancouver, Calgary, Halifax—all have eager film lovers lined up outside theatres at every hour of the day and night. Here in Toronto, we’re atwitter about sightings of the likes of George Clooney, Madonna, Keira Knightley, and Glenn Close, all in town for the Toronto International Film Festival (TIFF).

One member of Catalyst’s LinkedIn Group decided to have some fun with the focus on films by posing the question: What are your favourite films about the successes and challenges of women in business?

She suggested the ‘80s classic Working Girl.

Others suggested Nine to Five as the “ultimate revenge fantasy” for every woman who has been harassed or oppressed; The Associate with Whoopi Goldberg as a lawyer who hits the glass ceiling and creates a hammer in the form of an imaginary partner, an older white man; and the little-noticed Morning Glory from two years ago, in which Rachel McAdams plays a business woman who is both smart and successful!

Others reached for the classics: His Girl Friday, with Rosalind Russell in a role that had originally been written for a man; Katherine Hepburn as smart, funny, and a great boss in Desk Set; and the immortal Lucille Ball in Miss Grant Takes Richmond from 1949. What incredibly talented and successful women those three actresses were!

What’s your favourite movie about women in business? Is it a classic that you watched with your mother, or maybe something from this year?

Join the conversation on the Catalyst LinkedIn Group, and let’s have our own celebration of films about women in business. Or follow this great example, and start your own conversation on a topic you care about or just want to have fun with!

 

Why Diversity Matters: Diversity Communicates!

As baby boomers retire over the next 15 years, the Canadian economy is relying on a steady stream of immigrants to replace them in the labour force. In fact, Statscan predicts that one out of every three Canadian workers in 2026 will have been born in another country.

That’s right. Fifteen years from now, one-third of the labour force will be immigrants, and many of them will be visible minorities. Businesses that have considered diversity as a “nice to do” for the HR department will be losing the battle to hang onto and attract talented employees to their competition, companies that are taking action today to integrate newcomers into their workforces.

A Catalyst survey team found that many visible minority respondents perceived that workplace barriers, such as lack of fairness in career advancement processes, an absence of role models, inequality in performance standards, and fewer high-visibility assignments, made advancement more difficult for them than for their white/Caucasian colleagues. In addition, visible minorities reported fewer developmental opportunities.

Given these perceptions, it’s no surprise that a smaller percentage of visible minority respondents believed senior management of their organization was committed to cultural diversity.

Employees report greater career satisfaction and organizational commitment—known to be related to greater productivity and profitability—when they feel their organizations’ career advancement processes are fair. And an important predictor of that sense of fairness was the perception that their senior leaders were committed to diversity.

The message? Canadian business leaders not only need to do a better job of encouraging the emergence of talented employees, they need to expand responsibility for diversity beyond the HR department, and link it to broad corporate objectives with a champion from the most senior ranks. TD Bank’s President and CEO Ed Clark demonstrates TD’s commitment to talent development by personally mentoring promising employees—which might explain why he was an inaugural Catalyst Canada Honours Champion, and Canadian CEO of the year for 2010!

Look around your workplace. Where does it fit on the diversity scale—and what can you do to nudge it higher?

India’s Women Take the Stage

Perhaps it’s because one million Canadians are of Indian descent, or because diversity is a defining characteristic of both India and Canada. But for some reason, the sounds, fragrances, and colours that I experienced during my recent visit to India felt strangely familiar.

Certainly, as I met with business leaders in Mumbai, Bangalore, and Delhi, our conversations about the challenges women face at work could easily have taken place in any Canadian city—struggles with work-life effectiveness and the lack of role models, mentors, and sponsors were at the top of the list.  (And who would have thought that a story about Canadian ice hockey would resonate with a business audience in Mumbai?)

However, the Indian cultural context adds layers of complexity to the issues facing women and organizations. Women in India are fighting battles that Canadian women have largely already won, for personal safety,  reliable childcare options, and more egalitarian societal assumptions about women’s roles. As a result, organizations are adopting programs that go beyond the flexible work arrangements or talent management practices that are familiar to North American ears. They are providing transportation to and from work sites, implementing recruitment programs that target women who have been out of the workplace, and reaching out to the parents and families of current and prospective employees.

The good news is that a hungry economy is creating jobs for young, educated Indians at an amazing pace, and organizations understand that women represent an underutilized talent pool. (Going to India, I expected to hear about the rapid pace of growth, but I wasn’t quite prepared to hear business leaders casually talk about hiring tens of thousands of people!)

Every day, some newspaper—and there are many—carried an article on the important role played by women. One talked about the growing number of women pursuing higher education and urged businesses to be prepared to open their doors to a generation of bright, well-educated, and confident young women. Another talked about the fact that the oldest woman in a family had been declared the “head of the household” for the purposes of a new program that will distribute food to families living in poverty. And in a story that is close to the heart of Catalyst researchers, “the gender gap” was the theme of National Statistics Day!

Each of these stories describes a country that is coping with the social and cultural jolts that accompany rapid growth. I’m thrilled that women are recognized as a critical success factor in navigating the changes, and I look forward to forging closer connections with India as Catalyst grows and learns from this amazing country.

C This, Canada!

Between the media attention to the release of the 2010 Catalyst Census: Financial Post 500 Women Senior Officers and Top Earners, the discussions around the 100thInternational Women’s Day, and the swearing in of Canada’s third woman premier last week, the role of women in leadership has been much in the news.

The Battle Won’t be Won…

Some columnists went a bit overboard with their celebration of women’s progress over the past 100 years. Fortunately, others were prepared to take a hard look at the conflicting demands and invisible barriers that still confront women as they try to negotiate career, personal, and family challenges.

READ: “Equality for Women? We’re Not Done Fighting Yet,” by Judith Timson, The Globe and Mail, March 10, 2011.

…Without Focus.

Faced with both the premature declarations of victory and the real pressures of post-recession adjustments, many businesses could lose their focus on diversity programs. Here are some practical suggestions to keep on track:

READ: “5 Ways to Keep Your Women’s Initiative on Track,” by Melanie H. Axman (Boston),The Glass Hammer, March 15, 2011.

With a Federal Election appearing all but inevitable, where are the women in Canadian politics?

The Good News.

Since Christy Clark was sworn in as Premier of British Columbia earlier this month, we have three woman premiers in Canada — Kathy Dunderdale in Newfoundland and Labrador and Eva Aariak of Nunavut are the others. Will this lead to a breakthrough for women in provincial politics and at other levels of government? Our friends at Equal Voice hope so!

READ: “Is Christy Clark a Tipping Point for Canadian Women in Politics?” by Nancy Peckford, The Globe and Mail, March 7, 2011.

The Bad.

Women may be leading provincial and territorial governments, but the members of Canada’s Big City Mayors Caucus remain exclusively male. Would women have answered these questions differently?

READ: “Canada’s Big-City Mayors are Wondering: After the Stimulus, What’s Next?” by Siri Agnell, The Globe and Mail, March 17, 2011.

And the Ugly.

Proof that the war is very much still on!

READ: “Political Mailer Criticises Female Candidate for Being ‘Unmarried’,” by JOS, Feministing, March 16, 2011.

 

Progress? When?

Next Tuesday we’ll mark the 100th International Women’s Day.

Although we may have many reasons to celebrate, the numbers revealed in the 2010 Catalyst Census: Financial Post 500 Women Senior Officers and Top Earners aren’t one of them.

There’s some good news in the Census. The number of FP500 public companies with 25% or more women senior officers has increased by almost eight percentage points since 2008. But more than 30% of all Canadian companies lack even one woman senior officer—with no significant shift in the past two years. That’s the bad news.

Since 2006, the percentage of senior officer positions held by women has increased by 2.6 percentage points. And since 2008, the number has only grown by 0.4 percentage points per year.

Why haven’t we seen greater numbers of smart, well-educated women breaking through the glass ceiling? I posed that very question to a group of business students at the Richard Ivey School of Business earlier this week. One student suggested that we need more time for turnover and change to happen at the top. Others challenged that view, arguing that that the slow pace of change pointed to systemic cultural issues that require action from leaders and their organizations.

And they’re right. Successful organizations would never adopt “wait and see” as a strategy for change. We need less talk and more action if Canada’s corporate leadership is going to reflect the strengths of all Canadians.

So, here’s my challenge to anyone in Canada working for an organization listed on the FP500.

Go to our list of companies with 25% or more women senior officers. Is your organization listed there?

No? Then, check the list of companies with zero executive officers. Is your company listed there? If you didn’t find your company on either list, look on this list to see whether you are closer to zero or 25%.

The answers will tell you something about your organization, the commitment of your leaders to building a truly inclusive workplace, and your own opportunities for advancement. If you like what you see, celebrate and keep up the good work, remembering that equity is still a long way off.

If you’re embarrassed, speak up, and let that sense of disappointment be the fuel that drives you to take action.

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We’ve been a bit overwhelmed by the media interest in the 2010 Catalyst Census: Financial Post 500 Women Senior Officers and Top Earners! Check it out for yourself at:

Women Still Scarce in Top Ranks at Canada’s Biggest Companies,” by Janet McFarland, The Globe and Mail, March 3, 2011.

Executive Gender Gap Remains, Catalyst Report Says,” CBC News, March 3, 2011.

More Women in Top Senior Positions,” QMI Agency, March 3, 2011.

Women Rising to Executive Levels Still Few in Number,”` by Vanessa Lu, The Toronto Star, March 3, 2011.

Good News, Bad News for Women’s Advancement Found in Latest Catalyst Census of Corporate Canada,” CNW Group, March 3, 2011.

Women`s Leadership Slows to Crawl in Corporate Canada: Report,” by Darah Hansen, The Vancouver Sun, March 3, 2011.

Good News, Bad News for Women`s Advancement,” Canadian HR Reporter, March 3. 2011.

Good News, Bad News for Women in Canada’s Financial Services Industry: Catalyst,” by Megan Harman, Investment Executive, March 3, 2011.

Comprehensive Plan Needed to Advance Women,” by Wallace Immen, The Globe and Mail, March 3, 2011.

Cadres supérieurs et salaries élevés: la representation des femmes progresse lentement,” Branchez-Vous.com, 03 mars, 2011.

Encore peu de femmes nommées à des postes de haute direction,” par Marie-Eve Shaffer, Métro, 03 mars, 2011.

C This, Canada!

This month, we’ve wondered why it’s men who have most of the by-lines in North American magazines; why men and women differ on the existence of the glass ceiling in the UK; and whether gender quotas will take off in Italy. And, some positive advice from Campbell Soup President and CEO (and Catalyst Board member) Doug Conant.

Where are the women?

The women’s literary organization VIDA has shown that men still outnumber women as contributors to mainstream news and current affairs magazines. And the gap widens when we look at reviews of books by men compared with books by women—and the reviewers.

READ: “Women at Work,” by Meghan O’Rourke, Slate, February 2, 2011.

Still looking….

Michael Enright leads a panel of U.S. and Canadian magazine editors in a discussion of the reasons that men continue to outnumber women as contributors to magazines.

LISTEN: “Too Few Women in Publishing,” with Michael Enright, Sunday Morning, CBC Radio, February 20, 2011.

Glass ceiling? Maybe you have to bang your head.

A survey in the UK suggests that women in management are very conscious of the glass ceiling, while the men they work with think it’s disappeared. (Or maybe the accompanying photo suggests a context for the difference!)

READ: “Female Managers Say Glass Ceiling Intact—Survey,” BBC News, February 21, 2011.

Quota battles universal?

The most recent nation to engage in a battle for quotas to close the gender gap on boards is Italy. Let’s hope we don’t waste too much energy on arguing about the “how” that we never get to “when”!

READ: “Plan to Put More Women on Italy Boards at Risk,” by Lisa Jucca, Reuters, February 17, 2011.

And, some uncommon sense!

An experienced business leader shares some practical tips on recognizing employees in a meaningful way. Like other successful management practices, it takes thought and effort, but read the comments to see how effective it can be!

READ: “Secrets of Positive Feedback,” by Douglas Conant, Harvard Business Review, February 16, 2011.

A Real Champion

TD Bank Financial Group President and CEO Ed Clark is on a roll. First, he was the inaugural The Catalyst Canada Honours Champion in the Company/Firm Leader category.  Now, he’s been named the 2010 Canada’s Outstanding CEO of the Year.

Coincidence?  Not likely.  Ed’s professional success is based in his understanding of and commitment to the community. He’s one of those progressive leaders who understand that businesses do better when their senior people reflect the diversity of their customers. His personal example has supported a business culture that nurtures and advances talent across the organization. 

It’s that commitment to eliminating barriers to the advancement of women that has made him a good friend to Canadian women in business.

And TD’s business performance proves he’s right!

We’re thinking you should be watching The Catalyst Canada Honours this year—we aren’t saying there’s a correlation, but we do know that what’s good for women is good for business!

Not Up For Debate

This past Friday, CBC Radio’s The Current featured a panel discussion on the lack of women on corporate boards in Canada. Arlene Dickinson kicked off the conversation by sharing parts of an interview I had given ahead of time. In those clips, I recapped the bleak numbers—only 14% of corporate board seats in Canada are held by women and almost half of public companies on the FP500 have no women directors at all.

The three panelists—a Canadian Senator, an American business professor, and the former CEO of a Calgary credit union—all strongly agreed that we need more women on boards. They shared well-established research as well as their personal experiences that having diverse perspectives around the table leads to better outcomes for businesses.

But they disagreed on how to get there. Senator Celine Hervieux-Payette has proposed legislation mandating quotas to increase the representation of women on boards in response to the lack of progress companies have made on their own. Amy Dittmar, Associate Professor of Finance at the University of Michigan’s Ross School of Business, reviewed Norway’s experience with similar legislation, which has led to just over 40% of Norwegian board seats being held by women. She noted that there had been concerns regarding the availability of qualified women board directors, and she argued that with only 16.9% of corporate officer positions held by women in Canada, the same concerns will probably be voiced here as well. She also mentioned a “modest change” that the United States took through the SEC to spur the inclusion of women on boards by implementing the mandatory disclosure of boards’ diversity considerations. Dave Gregory, former CEO of First Calgary Credit Union, said that rather than imposing quotas on companies, we should focus our energy on communicating the bottom-line benefits of diversity so companies will be compelled to make change on their own.

Had I been part of the discussion, I would have reminded the debating panelists that we have a shared goal—getting more women on corporate boards. While the strategies we could use to get there may vary, the key is that we do get there. Quotas are one proven strategy, but I welcome any innovative ideas to make change.

Let’s not waste time and energy arguing about the best ways to get there—let’s get the journey started. We welcome any and all ideas to increase the representation of women on boards. If we want to have impact, we’re going to have to work together to reach our common goal.

C This, Canada!

One of my last duties of 2010 was an appearance before the Senate Committee on Banking, Trade and Commerce to support action to improve the representation of women on Canadian corporate boards, because diversity is important to women, and equally important to maintaining Canada’s competitive economy.  Today, C This Canada! includes a look at some of the reasons for the lack of women  in the boardrooms of the nation.   And we share some research, an industry success story, and a personal and moving story about the value of managing a healthy work-life balance.  An innovative partnership between schools and a technology giant also caught our eye.

Not quite as equal?

It may be barriers on the bottom and middle floors, rather than the glass ceiling, which are keeping women from reaching the boardroom in numbers that reflect their presence in the work force.  How do we identify the problems, and what are the remedies?

READ:  “Equality Not the Same as Parity in the Boardroom”, Kim Covert,  Postmedia News, December 23, 2010.

Accountants do it better!

Accounting firms are leading with innovative programs to ensure employees maintain a personal life, even during the high-pressure audit period.  Employees, and the businesses, benefit from the initiatives.

READ: “Flex Time Flourishes in Accounting Industry” Stephen Greenhouse, The New York Times, January 7, 2011.

We knew it!

Research suggests that your health may depend upon your approach—and your boss’s—to balancing work with the other important things in your life.

READ: “The Real Cost of Upsetting the Work-Life Balance”, Susan Pinker, The Globe and Mail, December 20, 2010.

And some personal evidence of the work-life link

FedEx Canada President Lisa Lisson speaks about the importance of balance between work and life as she coped with the strain of a personal crisis.

READ: “FedEx Chief Finds Strength, Comfort in Her Work”,  Gordon Pitts, The Globe and Mail, January 12, 2011.

Girls Find Place in Technology World

Schools across the country are finding a way to attract more girls to their technology training—with girls-only classes that allow participants to pursue their interests.  And the schools are being supported by Cisco Systems in an effort to address the technology skills shortage by overcoming the stereotype.

READ: “Girls-Only Computer Class Hits Refresh on IT’s Geeky-Male Image”, Kate Harmer, The Globe and Mail, January 4, 2011