| Amber Bradley, Editor-in-Chief, TalkLPnews Just as I was about to mentally rip apart yet another article I thought was making a “woe is women” claim about being passed over for promotions because of men, I was pleasantly surprised. I mean, don’t get me wrong – I am pro-woman advancement, even a feminist to some degree, but certainly not on the side of solely blaming patriarchy for only 29% female representation at the c-suite level. I’m more of a “let’s fix it ourselves” kind of girl. Enter The Broken Rung book by Kweilin Ellingrud, Lareina Yee, and María del Mar Martínez and subsequent summary of their book by Harvard Business Review (HBR). Finally! A book that acknowledges the challenges faced by bias in hiring and promotions, but it doesn’t leave it there. Yes, there are very strategic and smart ways for women to exceed in the corporate workplace and we must do those things ourselves. Fair enough. If women have closed the education gap over the years, then why are the stats still so meager when it comes to upper-level positions within organizations? This book aims to answer that question by identifying two main categories of impact and how we can put it into practice. First, the authors coin a super important phrase called “experience capital,” which means the knowledge, skills, and wisdom a professional gains on the job. I think we used to call this “street cred.” Building experience capital is the first important piece for women. The second critical piece is to actually have this experience recognized. Here are just a few of the ways women can obtain experience capital, as summarized by HBR. (I definitely recommend the book for further insights and specifics.) Focus on the Company Culture, Not Just the Job As we know well, it’s about company culture. Select a position within a company that: • Has a strong learning culture – actively prioritizes growth • Successful growth strategy – a clear strategy for winning their industry • High cross-functional mobility – helps employees move into new roles • Diversity of thought – don’t see anyone that looks like you at the top? Move on. The authors also recommend talking to people that work at the company and remembering an interview is a two-way street – you can turn them down as easily as they can turn you down. “Make Big, Bold Moves” The moves you make within your career play an enormous role within your trajectory (read: pay attention here, youngins). The big move is defined as starting over in a new industry or occupation. I can attest to this because many of the executives I interview on the TalkLP podcast have recounted a calculated risk they’ve taken on their path to the c-suite completely outside asset protection. Some have taken a stint in operations, risk management, or the internal audit department, just to learn more parts of the organization or broaden their skills. The bold move is where you take a role that requires significantly new skill sets. How can you tell if it’s bold enough? The authors describe a “skill distance” measure, meaning that if the new job has at least 25% of a new skill set – then it’s considered a “bold” move. Be a Power Player There are two roles that seem to accelerate women’s career growth: 1) leadership roles and 2) profit and loss (P&L) responsibilities. With women being nearly twice as likely to be mistaken for someone junior than men, it’s often difficult for women to not only be selected for leadership roles but be seen as a leader- which apparently is more than half the battle. Research shows female managers are often better at the soft skills than their male counterparts. But it’s massively important for women to know how to tell the story of their leadership capabilities when given the opportunity. The key to this is to focus on what you’ve liked and learned, who you’ve mentored, how you’ve brought together a collaborative team rather than what made you unhappy, frustrated or unfulfilled. Embrace Technology Be an early adopter when it comes to technology – especially AI. You don’t have to be a technologist to be proficient at using helpful technology. But you do have to have an open mind to prioritize learning these skills. Hit up a colleague to give you some tips, take an online class, listen to a podcast…the opportunities are endless, but YOU have to prioritize YOU to invest in yourself. Take the Next Step Instead of simply daydreaming of your next career move – get started. Invest in your own career by reading The Broken Rung, taking an AI online class, or find something that will move your goals forward. Join me and other female executives from all different industries at the TalkLPnews virtual Ladies Leadership Lunch on May 8 at 12:30 p.m. EST. We’ll be featuring neuroscience expert Lynn Franklin discussing how to have difficult conversations! Register here. |
