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!
- Global Gender Gap Report 2015 - Reports - World Economic Forum ›
- Evidence for Action: Gender Equality and Economic Growth ›
- Progress in gender equality leads to economic growth - European ... ›
- Gender equality boosts economic growth | EIGE ›
- Investing in gender equality vital to economic growth, sustainable ... ›
- How advancing women's equality can add $12 trillion to global growth ›
Women Founders & CEOs Share Their Tips
If you're anxious about looking for a new job right now, you're not alone. We've talked before about how you can land a job in the midst of COVID-19, but today we wanted to share advice from some of the experts who spoke at our inaugural Diversity Reboot Summit.
If you're struggling with perfectionism:<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="824ce73e30a279a266a5dd91047dd6f5"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/y58Luzbv_vw?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p><em>Reshma Saujani is the Founder and CEO of Girls Who Code, the international nonprofit organization working to close the gender gap in technology and change the image of what a computer programmer looks like and does. Since her viral TED Talk, "Teach Girls Bravery, Not Perfection" resonated worldwide, Reshma has been on a mission to inspire women to leave socially-ingrained perfectionism behind and rewire themselves for braver, bolder lives. Reshma talked with Zeryn Sarpangal, Chief Financial and People Officer, Code For America, about how women can work to be brave, not perfect, as they look for new opportunities. </em></p>
If you're looking to pivot into tech (and land a remote job):<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="80353e84513d2d043db309aaa94d457a"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/ZaPMxG_5C40?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p><em>Adda Birnir, CEO of Skillcrush, shares her tips for getting the skills you need to land a remote job, even if you don't have a tech background. Skillcrush is an online tech-education company that helps their women make a career change into tech. </em></p>
If you need an inside connection:<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="e38baadbe67361bff0eb4b95a5d2ade3"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/gjK8kjosZe8?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p><em>How will we connect with others professionally as social distancing continues? During this session, Kristy Wallace, CEO of Ellevate Network; Natasha Green, Sr. Local Communities Manager at AnitaB.org Initiative; and Dee Poku-Spalding, Founder and CEO of WIE (Women: Inspiration and Enterprise) share their expert networking advice with Organized SHIFT CEO Landi Spearman.</em></p>
A five-step framework for addressing systematic racism at work
The world has changed in the past few weeks.
We're watching corporations and organizations across the world come out in support of Black lives in droves. Many of those organizations are doing so for the first time in their history.
Clyde's Kelly Hall Shares Tips for Moving from a Big Organization to a Startup and a Framework for Making the Decision
Kelly Hall broke a major rule of negotiation when she was interviewing for her current job at product protection startup Clyde.