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Gender Parity At Work Needs To Be "All About The Money" - Morgan Stanley Vice Chairman

I recently joined the Council on Foreign Relations as a Term Member. Like most life-membership organizations that operate out of massive Park Avenue townhouses, the makeup of the membership is predominantly white and male. The Term Member program, I'm told is more diverse, which you can see at their events where a diversity of races and genders is represented in the room (although I have yet to meet a transgender Term Member).

Another positive development at the Council is the programming around the economic benefits of women's workforce participation. Today, I attended a panel on "The Status of Women in the Economy" and every argument for why we need more gender parity at work was presented. I'm not going to repeat all the stats in this blog. Rather, I'll point you to a report that Gayle Tzemach Lemmon and Rachel Vogelstein wrote for the Council that is packed with great data points that I summarized in a previous post.

Among the many points that stuck out today from the "The Status of Women in the Economy" panel, Thomas R. Nides, the Vice Chairman of Morgan Stanley and the former United States Deputy Secretary of State for Management and Resources (basically the COO of the State Department), had the best one. He said that at the end of the day, "it's all about the money". Hiring more women is obviously the moral thing to do, but none of that matters if companies don't understand how women's participation in the workforce improves a company's bottom line. And numerous studies have shown this, including a recent one by the IMF that shows a 5 percent rise in the GDP would result from closing the gender gap in the US (I wrote more about this study in a previous blog post here).

I'm excited about a number of forthcoming studies that frame gender parity through the prism of growth - and not just human rights. Laureina Yee, a partner at McKinsey who leads their "Women in the Workplace" partnership with LeanIn.org teased an upcoming study that will show how much profit margins rise at companies with more women leaders!

Chainalysis Inc.

What’s It Like to Work in Cybercrime? An Inside Look with Jen Hicks of Chainalysis

Do you know how terrorist attacks are stopped?

Military intervention is certainly one way, but Jen Hicks prefers another.

"I really, really believe that the key to preventing terrorist attacks is by cutting off their finances," explains Jen, a senior cybercrime investigator at cryptocurrency compliance and investigation firm Chainalysis.

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Quip

9 Tips for Hosting a Successful, Collaborative Hackathon, from Quip

A company that is built around offering modern collaboration software needs to believe in the power of bringing people together.

Luckily, that's just what Quip is all about.

Their annual three-day hackathon Quiprupt is an example of what collaboration looks like not just as a product offering but also as a core tenet of company culture. We asked participants from Quiprupt 2021 to tell us about their experience coming together to ship cool stuff—and how Quip's culture sets them up to be able to find meaningful work while building better products.

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Career Advice

Fostering Collaboration and Innovation in a Fast-Paced Environment

Insight from YouGov's Victoria Ganusceac

Victoria Ganusceac knew she wanted to be a product manager, but the HR manager at the company where she was working at the time wasn't on board.

Not immediately, anyways.

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How I Took Action Against Anti-Asian Racism– At Work and In My Personal Life

If you've been paying attention to the news recently, you likely have noticed a sharp rise in Anti-Asian racism. Members of the Asian-American and Pacific Islander communities have been vocal in bringing awareness to the heightened racial discrimination they have faced since the beginning of the Covid-19 pandemic, which, in some cases, have had tragic consequences.

If you are not a member of the Asian-American community, you might feel powerless– as if you have no say in the matter. It's easy to believe that your actions aren't effective and cannot lend support to your colleagues and friends from the Asian-American community. But that is not the case– in reality, there are a number of actions you can take against Asian hate that can have real impact, in both your professional and personal life.

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