September 14, 2012 — When asked the reason for their success, most business leaders point to someone in their past who took more than a passive interest in their career and offered advice and championship at critical times. We know that having a sponsor who can provide access to the informal networks within an organization is especially important for women. Here are some more things you might not have realized about sponsorship, taken from the recently released Catalyst report, High Potentials in the Pipeline: Leaders Pay it Forward:
1. Sponsoring is good for everyone. Both women and men who had protégés showed an increase in compensation and career advancement. For the study group, the difference was an average of $25,075 in compensation growth between 2008 and 2010.
2. Women invest in other women. Contrary to the “Queen Bee” myth, women are more likely than men to invest in the careers of other women: 73 percent compared with 30 percent.
3. Being sponsored leads to being a sponsor. Fifty-nine percent of individuals in the study group who had been sponsored were now offering similar support to others, compared with 47 percent of those who had not been sponsored.
4. Women are more likely to invest in the careers of others than men are. Sixty-five percent of the women who had received support were investing in others, compared with 56 percent of the men.
5. Women find time to develop others. Seventy-six percent of the women who worked more than 60 hours a week also found time to develop emerging talent.
Do you have a story to share about someone who positively affected your career? Or a positive experience as a sponsor?