Women continue to be underrepresented at all corporate levels despite a high level of ambition and elbow grease, though numbers are increasing. More hiring managers need to practice conscious inclusion, i.e., the act of seeking out, supporting, and retaining female talent to help increase the representation of women at all levels. Many young female professionals do not have the benefit of high-level female role models; they are missing out on the mentorship and sponsorship that is so critical to career success.
I recently hosted the third Virtual Meeting of the Novarica Women’s Network (NWN) on career advancement. Our panelists—F&G EVP and COO Bonnie Wasgatt, WCF CIO Debi Mofford, and Novarica EVP Martina Conlon—shared some advice on how women can reach their career goals and how their employers can support them.
Professional growth can be achieved through self-promotion, thoughtful networking, and taking the occasional risk.
Women often believe that hard work alone will lead to recognition and promotions. Women should meet with their supervisors regularly and highlight their recent wins instead of shying away from showcasing their achievements. Making their workplace successes highly visible makes it more likely that the organization will call upon these women when greater opportunities arise.
Networking is an incredibly powerful tool. Seeking out good mentorship, enthusiastic sponsors, and a strong network of champions can help women benefit from their guidance and support. Broad networks can also provide women with invaluable connections, which may lead to exciting new roles and high-visibility opportunities that directly contribute to a company’s bottom line.
Taking the occasional professional risk can be daunting—especially when it comes to leaving a first job. But taking that leap and going after a new role, which might involve more decision-making, management, leadership, or new skill development, can hugely impact one’s career trajectory.
Employers that prioritize gender diversity and actively support the professional growth of their female employees enjoy significant financial advantages.
Fortune 500 companies with the largest female board representation financially outperform companies with the smallest female board representation. The business value of workforce diversity is clear: greater diversity leads to greater financial returns.
Hiring managers can practice conscious inclusion and combat their own unconscious biases to diversify their workforce. Unconscious biases can be difficult to identify; hiring managers can consider asking for regular feedback from their teams and taking the time for self-reflection. A good rule of thumb: If a hiring decision feels too easy or comfortable, think about why that might be. It is always easier to hire someone who speaks and thinks similarly, but someone with a different background and lived experiences may end up adding incredible value to the team.
The next Novarica Women’s Network Virtual Meeting will occur on October 21, 2020, at 11 AM ET on the topic of rules of negotiation and navigating difficult conversations. Speakers include Nancy Casbarro, VP of Research and Consulting at Novarica. More information is available at https://novarica.com/womensnetwork.
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