kellogg executive women’s network

Presented by Monar Consulting Inc.

Introduction

Up until recently, men had both pioneered and commandeered the workplace. It was men, not women, who held the

majority of executive level positions and were recruited to secede one another when one had to relinquish their place in the

c-suite. But as women become a larger part of the corporate landscape and innovative, intuitive competencies are valued

over technical skill, the female sector of the workplace is carving out a niche for itself. As the male Baby Boomers in top

positions are slowly retiring, both men and women will be vying for these coveted spots, and for the first time in a long

time, they will both be powerful contenders.

What does this a l l mean? It means that women will have an opportunity like never before to rise up in the business world.

Monar Consulting, Inc. facilitated an event for Northwestern's Kellogg Executive Women's Network (KEWN) entitled The

Coming Cataclysmic Workforce Shift: A Unique Opportunity for Women Professionals. While it is true that women have come a long

way in the workforce, there is still a long way for them to continue. The economy's shift to the "conceptual age" and the

aging of the Baby Boomer generation may be the catalysts that pave the road for future female success—so long as women know how to leverage their unique strengths to be successful.

Inside this issue: The Current Landscape – pg. 2 Barriers Women Face – pg. 3 Leveraging Female Leaders – pg. 4 KEWN Survey – pg. 5 Action Planning & Conclusion – pg. 6 Work Cited & Additional Resources – pg. 7

Kellogg Executive Women’s Network Developing Women Leaders

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.”

- Mary Kay Ash, founder of Mary Kay

Monar Consulting, Inc.

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Quick Facts

89% of the public are comfortable with women as leaders, yet only 18% of women are in top leadership positions

According to a Catalyst study, Fortune 500 companies with high percentages of women officers experiences, on average 35.1% higher return on equity and a 34% higher total return to shareholders than did those with low percentages of women corporate officers.

Women make up 48% of the workforce and 51% of all management/administrative/ professional positions.

Women represent 16% of the board seats at the top 200 companies on the S&P 500, but only 12.4% at the top 100 banks.

Women account for 16.4% of the executives at the Fortune 500 companies.

In 2006– 07, women received 62% of associate degrees, 57% of bachelor’s degrees, 61% of master’s degrees, and 50% of doctoral and first professional degrees.

Women have made many strides over the last several decades and have

started shaping the path for future women leaders. This has been prompted

by a variety of economic and global factors that have allowed this workplace

shift to gain momentum. The postindustrial economy has welcomed

leadership behaviors that are more commonly found in women. For the first

time, women have become the more dominant sex in several fields.

Managerial and professional positions in particular have seen a rise in the

number of women—over 35% in the past 50 years. Now outnumbering men

in these same positions, women seem to have positioned themselves for an influx of female leadership.

Women currently represent nearly half of the workforce, yet the percentage

of women in leadership roles has remained steadily at 18%. Of the 14

industries and 500 companies covered by the Fortune 500, only 3% are

headed by female CEOs. Of those companies that do have women in top

positions, many have seen positive results in their bottom line. Even though

women leaders have proven to add value, a detrimental gap still exists

between the number of women in the workforce and the number of women

leaders. By failing to take advantage of the current talent, organizations are missing out on the value female leaders can bring to the table.

So the question remains, why is placing women into leadership roles still a constant

struggle? Women themselves are more prepared than ever to reach those top

levels. The public also seems to be more comfortable than ever to see

women in leadership roles. Yet the ratio of male to female leaders still tips in

favor of males. Women have made a large impact on the workforce and continue to plant their feet at the leadership level.

The Current Landscape

Percentage of Women in Leadership Roles by Industry

3

Quick Facts

Women still earn 22 percent less than men, earning 78 cents to every dollar a man earns.

Although women made up 15.7% of the corporate officers at the Fortune 500 companies in 2008, they accounted for only 6% of the top earners.

Men are four times more likely than women to negotiate a first salary.

Common Barriers Women Face:

Glass ceiling--even the highest ranking women are not making as much or receiving as much prestige as their male counterparts. There exists an unseen barrier between male and female achievement. Lack of role models and minimal executive presence--because there are so few women in leadership roles, rising women find themselves without mentors or individuals to help them carve similar paths to success. Perceptions--age-old stereotypes of female domesticity and emotionality have contributed to men believing that women are not capable of performing at similarly high levels. Lack of confidence and female insecurities--women are trying hard to strike a balance between aggressiveness and appeasement, and at the risk of seeming ruthless, they tend toward the latter. Given also that they're pioneering uncharted territory, they may be hesitant to forge right ahead. Old Boys' Club--the men that are in charge have banded together and aim to choose successors that most resemble themselves in qualities and in gender. There is almost a society between them to which women cannot break through. Work-Life Balance--women frequently cite the pressure to maintain their lives both at home and at work as especially important and especially difficult, where as men see less need to pay attention to domestic matters.

Barriers Women Face Unfortunately, given that women in the workplace is a relatively new

phenomenon, or at least newer than the power held by their male

counterparts, women often find that there are certain barriers that limit

their success as a female leader. Women tend to see both internal and

external barriers to their success. With regards to external, many women

point to what they refer to as the “old boys’ network;” that is, the group

of men that head their organizations and recruit those men that are

similar to themselves to secede them. Baby Boomers especially tend to

point to this as the hardest point of entry to the c-suite, since the lineage

precedes their entry into the workplace and presupposes that there are

jobs that women are not capable of taking on. This, too, is a barrier that

they mention, saying that traditional perceptions of women as domestic

and emotional make them appear to be less worthy candidates when

compared to their male counterparts. Those within Generation X tend to

look internally as to the root of their limitations, pointing to their fear of

being assertive and taking chances as well as the pressure to balance

work-family life that men do not seem to struggle with similarly.

Recognizing the barriers to female success is the first step in being able to

deconstruct them and move forward both professionally and personally.

Monar Consulting, Inc. 4

Leveraging Female Leaders

Over the next three to five years, women in the workplace are going to be presented

with an unprecedented opportunity to step up into c-suite positions that are usually

held and coveted by males. With the Baby Boomers hitting retirement age, these upper

level positions will be open to any and all who demonstrate the abilities to perform at

those levels. There are certain things that women must do within this time period to

best leverage themselves to fill these opening spots, and the resources are already at their disposal; they just need to learn how to use them to their advantages.

1. Continue both formal and informal educat ion. In order to effectively

manage an organization, it is crucial for women to learn the business inside

and out. This can come through training, increased awareness of strategies and

culture within their firm and industry, and further formal educational

opportunities such as MBAs and PhDs.

2. Networking and mentor ing . The people that a woman knows can be her

most valuable resources, whether they lie within or beyond her organization.

Women must attempt to build relationships and network with those

individuals, reach out to younger women to help shape a professional and

personal path for their peers, and align themselves with current leadership.

3. Be wi l l ing to change and move. Sometimes, a woman’s biggest obstacle is

herself. Women must look toward challenging assignments and new

opportunities as a means of getting their work noticed rather than resting on

their laurels or doing what they’ve always done.

4. Push the l imit . Women must learn to strike a balance between being

aggressive and being ruthless. Assertiveness is something that women report

they have trouble embodying within the workplace. In order to move forward,

they must ask for what they want and refuse to be afraid of tough decisions.

5. Sel f -promote . Modesty may be a positive quality, but modesty will not help

mobilize women. The ability to take credit for successes, partial or full, and

position themselves for the roles and assignments they want is crucial for

women.

6. Don’t lose s ight o f values . Despite all of the challenges women face within

the workplace, especially when trying to move themselves up the corporate

ladder, it is especially important to maintain a sense of self. Women need to be

themselves, think and feel, and not be afraid to speak up.

“The time is right for women in business. Learn to avoid the remaining obstacles and the glass ceiling will cease to exist!”

- Nancy Clark, CEO of WomensMedia

“Anything's possible if you've got enough nerve.”

- J. K. Rowling, writer

“We need to fix our souls. Our souls are broken in this nation. We have lost our way. And it begins with inspiration. It begins with leadership.”

- Michelle Obama, wife of Barack Obama

Highlights of the KEWN Survey

Number of Responses: 96

Question with the most difference in response between Baby Boomer and Generation X: What are the disadvantages of being female in your organization?

Baby Boomers - “Old boys’ club”

Generation X - Lack of personal competencies

Of Respondants - Percentage of Top Leadership in Current

Organization that is Male

0-25%

26-50%

51-75%

76-100%

Baby Boomer

Generation X

Millenials

0%

20%

40%

60%

80%

100%

Percentage of Respondants Age Group


KEWN Pre-Survey Prior to the event, Monar sent out a survey to all members of KEWN

asking for their opinions on the strengths, weaknesses, advantages, and

disadvantages of being both male and female in the workplace, as well

as what women need to do to see the results they would like within the

corporate world. The responses that we received were insightful, thought

provoking, and at times, sadly indicative of the damaging preconceptions

of female capabilities. For example, in response to a question about the

advantages of being a woman in the workforce, over 20 respondents said

that there were absolutely none. While it was sometimes upsetting to

see women reflect on themselves and their abilities so negatively, their

responses provided a crisp picture of how women believe they are

perceived, how women perceive others, and how they believe they stack

up in the ongoing corporate battle of the sexes. Questions that were asked:

1. What are the 3 greatest strengths of female leaders?

2. What are the 3 greatest strengths of male leaders?

3. What are 3 weaknesses that limit female leaders?

4. What are 3 weaknesses that limit male leaders? 5. What do you feel are the advantages of being a female in your

organization (or organizations you have been in previously)?

6. What do you feel are the disadvantages of being a female in your


7. What do you feel are the advantages of being a male in your


8. What do you feel are the disadvantages of being a male in your


9. What barriers, obstacles, etc. do you feel most limit your success

as a female leader?

10. Over the next 3-5 years, women must…

*All responses from the survey are provided in an additional document.

Action Planning

In order for women to best position themselves for increased opportunities in leadership roles, they must

consider action planning. Action planning will help women identify their strengths and weaknesses as well as

their advantages and disadvantages in their current situation. Using a force field analysis (as seen below), women

can better understand what is standing in their way and what they must overcome to achieve their goals.

Conclusion

It is no surprise that with the influx of female leaders, the landscape of the corporate world is changing. Women

and men alike are taking steps to deconstruct perpetuating gender stereotypes that in the past limited a woman’s

potential, and, more importantly, a woman’s perception of her own potential. The female skill set is just as

valuable if not more so than the male’s, given the coming shift toward a more emotionally and socially intelligent

workplace. By using the resources she already has at her disposal and beginning to realize her true capacity,

women can rise up and best position themselves to take on leadership roles never before attained by her gender.

Today marks an unprecedented opportunity for women, and it is crucial that this opportunity does not go

without seizing.

Monar Consulting, Inc.

“The day will come when men will recognize women as his peer, not only at the fireside, but in councils of the nation. Then, and not until then, will there be the perfect comradeship, the ideal union between the sexes that shall result in the highest development of the race.”

-Susan B. Anthony

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Strengths

Advantages

Weaknesses

Disadvantages

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Work Cited & Additional Resources

Work Cited:

Denison Consulting, LLC. (20011). Research Notes: Exploring Gender, Age and Industry: Exploring the Variables of Leadership. Retrieved from www.denisonconsulting.com.

Soares, R., Carter, N., & Combopiano, J. (2009). 2009 Catalyst Census: Fortune 500 Women Board Directors: Catalyst. Retrieved from www.catalyst.org.

The White House Project. (2009). The White House Project Report: Benchmarking Women’s Leadership. Retrieved from www.thewhitehouseproject.org.

Additional Resources

Online Articles:

Frankel, B. (2011). The DiversityInc Top 10 Companies for Executive Women. www.diversityinc.com.

Organization Practice. (2011). How Women Can Contribute More to the US Economy. www.mckinseyquarterly.com.

Books: Fierce Conversations: Achieving Success at Work and in Life: One Conversation at a Time. – by Susan Scott

Getting Even: Why Women Don't Get Paid Like Men and What to do About it. – by Evelyn Murphy & E.J. Graff Liquid Leadership. – by Brad Szollose

Nice Girls Don't Get the Corner Office: 101 Unconscious Mistakes that Women Make that Sabotage their Careers. – by Lois P. Frankel Play like a Man, Win Like a Woman: What Men Know About Success that Women Need to Learn. – by Gail Evans Right From the Start: Taking Charge in a New Leadership Role. – by Dan Ciampa & Michael Watkins She Wins, you Win: the Most Important Rule Every Business Women Needs to Know. – by Gail Evans Women Don't Ask. – by Sara Laschever and Linda Babcock

For More Info on Women’s Leadership Visit our Resources Page at

www.MonarConsulting.com

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