I speak with a lot of women. Some are successful and others want to be! When I ask them to define success, I get a range of answers: money, power, the ability to shape the future, giving back to society; pretty focused, definitive answers. They all have a fairly clear vision of what success means to them.
When I ask them what they are prepared to do to achieve their success goals, they answer with much less clarity. The reason, I believe, is that there aren’t many role models of successful, high-achieving women and how they rose to their lofty positions. But, they are out there and when you find them, the leadership models they represent have surprising common threads.
Almost all of these high-performing women are confident and creative. They have the capacity to both teach and learn; can work independently and are strong team players; are great listeners but ask incisive questions. But the single most important commonality among these remarkable women, in my view, is their fearlessness. They are not afraid to take on challenges and stand up for what they believe – whether it’s defending a strategy, a point of view or a colleague.
And, almost every successful, remarkable woman I know has had someone in her professional life that has believed in her, trusted her, mentored her or sponsored her. No one has “made it” on her own.
Why am I sharing these observations with you? To help unburden you of the fear of “I can’t.”
“I can’t” gets in our way more often than we would like to believe. And, it is a major barrier to achieving our goals. If you believe you can’t do something, you won’t take on that challenging assignment that will enhance both your visibility and credibility. You won’t attract the attention of others who could identify your leadership potential…someone who might be a mentor or a sponsor.
So, go ahead…try it. Because you CAN!
If you don’t have confidence, you need to develop confidence within yourself in order to become truly successful. Tap into your inner potential and allow your creativity to shine and overcome negative feelings and fears of failure and loss. Successful women understand that failure goes hand in hand with success. In reality, no one expects perfection, so why should you expect it of yourself?
Many extremely successful leaders have experienced unbelievable difficulties and setbacks, often with poor backgrounds, confronting countless obstacles on their path towards success. In facing problems, they have managed to develop resistance, persistence, and a strong will not only for survival, but also the capability to become warriors and role models for others. Everyone faces difficulties in life. It is an individual´s and a leader´s capability of coping with difficulties in an emotionally intelligent way that makes the difference.
And one more common thread among successful women executives- a unique style that comes through in their authenticity, personal style, and remaining true to themselves, their values and how they want to be seen in the world, and by other people.
They learn from the best, and surround themselves with likeminded people who allow them to express their uniqueness and authenticity in a supported way. Although they may face resistance, they accept the advice from others but yet, remain true to themselves and to their unique leadership style.
So go ahead…try it! Because you CAN!
In the words of Maya Angelou: “If you are always trying to be normal, you will never know how amazing you can be.”
About Aspire Ascend: We help executive women meet the challenges of career advancement and make an impact in the C-suite. We work with executive women and help them advance their careers with the mindset and tools they need to excel in the top ranks of the organization.
Ready to move forward? Email us today at firstname.lastname@example.org
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Washington, DC, June 10, 2016 – Recognizing that executive women need support to enhance their ability to succeed in senior leadership roles, Aspire Ascend – the organization providing resources, support and coaching for executive-level women – is adding a membership model to its business line. Aspire Ascend’s members will be able to access specifically designed leadership resources, enhance their business networks, attend events and forums and receive individual career coaching and guidance all designed to support their specific career goals.
To make it easier to become part of the Aspire Ascend network, the firm is launching a new, robust and user-friendly website (www.aspire-ascend.com) on June 10th. It will allow membership registration, quick access to important resources, inclusion in a network of executive women and invitations to events addressing the unique needs of women in the top ranks of their organizations.
To be considered for membership, the women need to come from the executive ranks of their organizations and pay an annual membership fee.
“We will serve the specific needs of each member by offering access to high-level connections, professional development seminars and by expanding their networks,” said Jan Molino, Aspire Ascend’s founder and chief executive officer. “As women advance in their careers, these opportunities will be invaluable to our members, providing the unique insights and strengths those responsibilities require,” she said.
Since its inception in 2014, Aspire Ascend has developed programs to assist women in the military transition into the civilian workforce, coached numerous executive-level women and advised for-profit and non-profit organizations on developing greater gender balance and sponsorship of women leaders.
Ms. Molino is a recognized expert on matters concerning women in the workplace and has been called upon for her guidance and counsel by a range of businesses, non-profits and government entities. She also has spoken to organizations and women’s groups on that subject and frequently blogs about women’s workplace issues.
“As we head into the general election with the very real prospect of having a woman President, there are few things more important to the future success of our country than tapping into the enormous potential women can bring to the workplace when they take on leadership roles,” said Ms. Molino.
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Aspire Ascend is a global service provider and a member-based organization providing a comprehensive portfolio of career-building services to enhance the success of women in leadership positions. It helps executive women meet the challenges of career advancement and make an impact in the C-suite.
I’m constantly speaking with or reading articles by women advocating for gender diversity in the workplace. It seems to me that certain business sectors are more open to the concept than others. Today’s STEM (Science Technology Engineering and Math) industries, for instance, are picking up the pace in the move toward bringing women into leadership positions.
Maybe it’s because more women are getting STEM degrees (but, there are still only 23% of tech jobs being done by women), or maybe it’s the relative youth in the tech workplace, or maybe there is a culture change in tech that is providing more role models for women. Or maybe it’s because of the work the late Anita Borg did in focusing attention on the need for greater female participation in the STEM arena.
Anita Borg combined technical expertise with a fearless vision to inspire, motivate and move women in technology. She touched and changed the lives of countless women in the fields of computing and beyond. Her example and advocacy caused many women to join the technical revolution – not just as bystanders but also as active participants and leaders.
The organization that now bears her name is carrying on her work and making strides in combatting the current leadership perspective that men make better executives in STEM companies. One company at a time, The Anita Borg Institute is helping to change corporate cultures and adding to the number of women in the leadership pipeline.
I recently had the opportunity to see Telle Whitney, CEO of the Anita Borg Institute, in a Bloomberg TV interview. The Institute’s views on gender diversity in the workplace and why it matters, the landscape is changing (or not changing, depending on your perspective) are certainly views Aspire Ascend’s members can understand.
Telle’s interview made an impact on me and I’d like to share it, and you can by clicking on this link: http://www.bloomberg.com/news/videos/2016-05-10/promoting-workplace-diversity-in-silicon-valley
Video courtesy of Bloomberg
Jan Molino is the CEO & Managing Partner of Aspire Ascend, a service provider and member-based organization that helps women advance toward leadership. She is an experienced speaker and facilitated numerous forums and panel discussions on this subject. Jan can be reached at: email@example.com.
If it’s true that we only have a few seconds to make a good first impression, then it stands to reason we should want to do everything we can to make the most positive impact in that short period of time. Whether it’s a job interview, pitching a new idea, seeking funding or running for office, the old adage holds: You don’t get a second chance to make a first impression.
It seems to be an easy concept to grasp, but how do you pull it off? Are there techniques, is there a formula and why do some people seem better at it than others? I’m always looking for ways to help clients answer these questions. I’m also on the lookout for ways to enhance my own skills when it comes to making the best possible first – and lasting – impression.
I believe I’ve found a tool that can be helpful in overcoming the fear and anxiety of giving a speech, heading into a job interview or asking for funding or a vote.
I just read the book Presence: Bringing Your Boldest Self to Your Biggest Challenges. It was written by Amy Cuddy. Many of us are familiar with her…not surprising since this professor and psychologist is widely known for having the second-most-watched TED talk of all time.
Now, I’m not in the habit of recommending books to a wide audience, limiting my referral service to friends and fellow book club members. But, I’m recommending this one to colleagues, clients and to anyone interested in improving his/her “presence” by recognizing the mind-body connection.
According to Cuddy, making a few tweaks in our body language can increase our self-confidence and change not only how we see ourselves, but also others' perceptions of us.
Cuddy studies how nonverbal behavior and snap judgments influence people. Her theory, proven by her success and the success of those who follow her counsel, is by accessing our personal power, we can achieve “presence,” the state in which we stop worrying about the impression we’re making on others and instead adjust the impression we’re making on ourselves.
Sounds pretty philosophical, doesn’t it? That kind of thing you’d expect from a Harvard professor. But this book, which has been deeply researched and filled with anecdotal stories, is easy reading and it leaves you with ways to gain strength and personal power by taking advantage of the mind-body connection.
Anyone who reads it will find a way to overcome the fear connected with stressful situations and persevere during those challenging moments.
Jan Molino is the CEO & Managing Partner of Aspire Ascend, a service provider and member-based organization that helps women advance toward leadership. She is an experienced speaker and facilitated numerous forums and panel discussions on this subject. Jan can be reached at: firstname.lastname@example.org.
Future leadership…an important question for Americans to consider this election year. But as we weigh the merits and personal attributes of those running for elective office, let me suggest that equally important leadership questions loom over the business and non-profit sectors of our society. The key question is where are our future C-suite and boardroom leaders going to come from? Who will be filling the pipeline and why aren’t more women among them? Especially, why aren’t more women heading for the corner office?
Women are poorly represented in corporate America with few female CEOs, and the pipeline of future women leaders is not reassuring. Only 14.2% of the top five leadership positions at companies in the S&P 500 are held by women, according to a recent CNNMoney analysis.
And, at the very top of these organizations, there are only 24 women in CEO positions out of 500 companies. And that number is going down as Zerox’s Ursula Burns, the only black woman running an S&P 500 company, is relinquishing the CEO role when Xerox splits in two later this year (she will remain with the legacy document-technology company as its chairman).
True, recently there have been some high-profile members added to this, sadly, extremely small group – Lockheed Martin’s Marillyn Hewson and GM’s Mary Barra, for instance – but the fact remains that women currently make up a minute percentage of U.S. organizations’ top leaders.
Why is this the case? You’ll get many answers to that question. But, in my experience, it boils down to a few troubling explanations.
Close your eyes and think of a CEO leading a senior-level meeting. Who do you picture…what does your CEO look like? Probably a man. More often than not, a white man. If a woman is in your picture at all, she’s most likely in a human resource or marketing role, important but not the path to the top. Rarely is she the CFO, COO or general counsel. Look at a mission-critical job and you will probably see a man doing it. Women are also lagging far behind their male counterparts in the profit-and-loss positions where future leaders are identified and groomed.
When you’re not among those tapped for a place on the ladder to the top, you don’t get the mentoring nor the sponsorships without which, it is very difficult to get the assignments that showcase your talents.
It is rare in today’s competitive organization – whether for-profit or non-profit – for a woman to receive the critical support she needs from high-ranking sponsors who can actively campaign for her advancement. A sponsor will fight for you, and position you for success within the organization. Without that support, you are pretty much on your own.
During my years as a former recruiter specializing in placing senior-level executives, I saw the mindset of hiring managers many of whom had fixed views about women and men, leadership and careers. Those views frequently created barriers for women, their talent and their unique perspectives.
Eliminating – or at least minimizing – those views and stultifying mindsets are critical to lowering gender barriers in the workplace.
A new study conducted by Leanin.org and McKinsey & Company revealed that despite modest improvements, the overarching findings were similar: Women remain underrepresented at every level of the corporate pipeline, with the disparity greatest at senior levels of leadership. So, waiting for organizations to suddenly push a button and change habits formed over generations doesn’t seem to be the best strategy to add women to the leadership pipeline.
But, there are things women (we) can do to help ourselves. Take control of your career and be pro-active.
Let your organization know that you are interested in leadership positions. Volunteer for assignments or offer to lead a project that will stretch you.
When you see an opportunity for advancement, don’t back away because you can only meet most, but not all, of the criteria – a man wouldn’t. You’ve got this!
Don’t overthink your chances of success…take a shot …….a man would!
Market yourself. Let the leaders of your organization know about your successes and achievements. Don’t assume others will do that for you. And don’t be afraid to speak up and present your point of view.
Develop your “personal brand,” the authentic you that no one can duplicate. That way you communicate and build relationships in a way that is unique to you. Build on this personal brand and extend your network so that your brand is also extended.
Learn to think and act like a board member. That can come from serving on volunteer or non-profit boards – also a great way to extend your network – build governance and other C-suite skills.
Each of us needs to step forward, out of the shadows, both for our individual development as leaders and to fill the leadership pipeline with women. This is a critical step we women need to take to make sure there are more women in the CEO seat!
Jan Molino is the CEO & Managing Partner of Aspire Ascend, a service provider and member-based organization, that helps women advance toward leadership. She is an experienced speaker and facilitated numerous forums and panel discussions on this subject. Jan can be reached at: email@example.com.
Don’t stop me if you’ve heard this before. It’s important to say it over and over.
The good news is that the percentage of women moving into the C-Suite is increasing. The bad news is that the movement is proceeding at a snail’s pace.
A majority of men and women agree that gender plays no role in a person’s ability to lead a business. Nothing new there! According to a recent Pew Research survey, 80% of men and women surveyed said that neither men nor women have leadership styles that make them more successful in business. In fact, about a third of adults (31%) said top female executives might be more honest and ethical than male execs.
There are even benefits to having more female leaders, according to the survey. About three-in-ten Americans surveyed said that having more women leaders in both business and government would improve the quality of life for women across the country.
But Pew’s study also shows that, while men and women may believe female leaders are just as qualified as their male peers, certain stigmas still persist. 2015 was not the year of the woman CEO as globally the share of incoming women CEOS fell to less than 3%, the lowest percentage since 2011. Out of the 359 brand new CEOs in 2015, exactly 10 women were chosen to lead corporations. The news was even worse in the U.S. and Canada where the share of incoming women CEOs fell for the third year to the lowest in the study’s history. Surprisingly, there was just one woman among the total 87 incoming CEOs in the U.S. and Canada last year (1 percent, compared to 4 percent in 2014 and over 7 percent in 2012).
And only 19% of those companies’ have women on their boards!
Even more interesting is the fact that female CEOs are more often hired from outside the company than male CEOs are. Thirty two percent of all incoming and outgoing female CEOs from 2004-2015 were outsiders compared to just 23 percent of males CEOs. According to Strategy&, women CEOs are more often hired from outside the company which indicates that companies have not been cultivating enough female senior executives in-house. The bad news is that they are not being recognized within their own organizations. The good news is that more companies who consider outsiders will improve the chances for women to become CEOs.
A February 2016 study by the Peterson Institute for International Economics, a nonprofit group based in Washington, DC, and EY found that despite the apparent economic benefits, many corporations still lack gender diversity. Almost 60 percent of the companies reviewed had no female board members, more than 50 percent had no female executives, and less than 5 percent had a female chief executive.
The study found that female CEOs performed about as well as male chief executives. But the more interesting fact is that having more women on boards correlated with higher profitability.
The data was very clear regarding women in top management positions: an increase in the share of women from zero to 30 percent would be associated with a 15 percent rise in profitability.
So, what is keeping women out of the C-Suite?
Dan Cassino, a Fairleigh Dickinson University political scientist, found in a recent study that a perceived threat to male identity and masculinity may play a role in America’s politics. Although he focused on the current political scene, is it much of a stretch to apply his findings as an explanation for why women are generally relegated to the lower rungs of the organizational ladder?
Cassino says that there is a belief, conscious or subconscious, that “…white men used to run everything and now we don’t and that’s terrible.” While he is speaking of the legislative arena, don’t we also see this unspoken belief playing out in the workplace as well?
By recognizing that women in decision-making positions can add significant value to an organization – and to the bottom line – organizations will be taking a substantial step toward a more realistic view of the business world, the leadership talent pool, and the marketplace. It will also be filling the executive pipeline with women whose perspectives can bring innovative solutions to business challenges.
Organizations should begin by reviewing their hiring and promotion policies. Are they gender neutral? Does merit drive those decisions? Is talent being developed properly?
Progressive organizations are embracing the notion of both mentoring and sponsoring future female leaders. Mentoring has historically been recognized as a successful training tool and a way to identify future leaders. But mentees could languish in middle management unless there is also an understanding that a sponsor – someone who will make a recommendation for promotion and otherwise support an upcoming female leader – plays an important, if not critical, role in an executive’s successful entry into the C-Suite.
For women, it is becoming increasingly important to identify the appropriate work environment when researching future employers. Are women represented in leadership positions, on the board or in key operating positions?
As a woman with leadership aspirations, are you prepared to step up and take on challenging, even risky, assignments? Do you fully understand – and can you work within – the current workplace environment…and work toward building a more “gender neutral” climate?
Creating greater gender balance in the C-Suite is a two-way street. But currently, there are more men driving that route.
In the midst of our current hotly contested political races, everyone has an opinion on almost every issue. It’s rare when any of the politicians, or even most voters, agree on anything. One of the few areas of agreement is the need for the United States to maintain a competitive edge in a growing international, and evermore interconnected marketplace. But, how do we do that and, ensuring the nation’s position as a global leader?
To do that, we cannot afford to overlook any resource, including human resources. Yet we are doing just that when we exclude women, and their unique perspectives, from strategy development and policy-making C-suite participation.
Women control over 80% of U.S. consumer spending yet make up only 14.6% of executive officers, 8.1% of top earners, and 4.6% of Fortune 500 CEOs. They hold just 16.9% of Fortune 500 board seats.
What steps must we take to correct this imbalance and put the strength of women’s thinking into corporate and policy decision making?
It begins with corporate practices and organizational cultures – currently more exclusionary than inclusive. Women’s advancement into the leadership ranks begins with today’s leaders, who must provide examples by organizational practices and their personal attitudes. It starts with a strong commitment by top management to gender diversity; including it as part of the strategic agenda, monitoring its progress across the corporate landscape and communicating its priority status throughout the enterprise.
Programs and forums focusing on gender diversity should become part of the in-house training philosophy with the development of women leaders and the acceptance of women in the organizational hierarchy as twin objectives. One won’t work without the other…building awareness among men of the difficulties women face reaching the top is a critical tool in redirecting internal cultures.
Organizations need to build conviction that what is good for women will be good for men, as well as for the entire enterprise.
That is done by raising men’s awareness – as well as women’s – to women-specific issues with the aim of changing practices that currently favor the recruitment and promotion of men, and positioning them at the head of the succession planning line.
Organizations can foster, encourage and reward new traditions of internal sponsorship where today’s leaders bring forward and support tomorrow’s leaders. In short, establish sponsorship programs. While mentors provide guidance and advice, sponsors are “career enablers” who enhance visibility among top leadership and actively push for women’s advancement. Sponsors actively drive advancement through concrete actions: opening doors, recommending women for promotions, and creating opportunities at the top.
Human Resource and other policies and processes should be reviewed and systematically revised:
When we make the corporate ladder more accessible to women, we incorporate fresh thinking, new perspectives and a more inclusive strategic outlook into an organization’s culture. That is both a good thing and the right thing if we are to ensure the nation’s position as a global leader.
I say McDonald’s, you immediately think golden arches. I say Nike, you think of that familiar “swoosh.” Those images and the emotional tie we bring to them are the tip of the branding iceberg. A business brand is an undeniably important competitive tool. Just as it is important for a business to develop its own brand, a personal brand can prove to be an invaluable strategic tool in an increasingly competitive marketplace for jobs, promotions and funding.
Personal branding is becoming just as important in business. A positive personal brand creates a consistent, targeted impression that helps you achieve your personal and professional goals. But, it is important to understand that a great personal brand is built on a foundation of authenticity. It cannot be faked, but must always be honest.
When you clearly stand apart and above others competing for the same jobs, for advancement or for supporting an entrepreneurial initiative, you generate interest and are much more likely to land interviews and gain advocates through your personal brand.
Over time, we develop a relationship – good or bad – with a brand. Organizations understand how important it is for that relationship to be a positive one. Anyone who successfully competes in the job market, within a competitive organization, for board positions, or the marketplace of ideas quickly learns the benefits of a positive brand.
So, where do you begin to build your personal brand? A good place to start is with your values, the core principles by which you live. They determine your attitudes, choices and actions: the way you present yourself to the world. This may be the most difficult part of building your brand. It requires focus and introspection. It is a good idea to create a baseline by testing your view of yourself against how the “market” perceives you. Think about the impressions you are making on friends, neighbors, business associates. Ask friends, family and colleagues how they view you. How do they perceive your strengths and weaknesses? Does their view align with what you are promoting as your brand?
Determining the gap between how you want to be perceived and the market’s “image” of you will tell you how much work you need to do to merge your brand with the market’s perception.
So, starting today, you are no longer “you.” You are a brand. How do you position yourself?
Start by identifying the qualities or characteristics that distinguish you from others in the job market, on the corporate ladder, pitching new ideas to funding sources. What have you done that makes you stand out? What would your colleagues or your customers say is your greatest and clearest strength? What do people say about you when you leave the room? What are your most attractive personal traits?
If the answers to those questions do not support the way you want your brand to be perceived, then you have some work to do.
Here is a way to start according to many marketing strategist who offers five tips for changing how people think about you and building your personal brand:
Building a successful personal brand takes time and constant attention. As you continue to develop your personal brand, stay consistent with your efforts, pay close attention to how the market responds to your content, and hone your direction until your focus is razor sharp. Fortunately, in the digital age there are numerous tools you can utilize:
Constantly find ways to produce value by creating or curating content that is in line with your brand…that positions you as an expert and helps you stand out. You are different, so leverage that difference.
Building a personal brand takes time and effort. But, as successful companies have found, a great brand pays great dividends.
The American Association of University Women (AAUW) recently published Barriers and Bias: The Status of Women in Leadership, a report that dives into the reasons for female leadership gaps and proposes concrete steps for narrowing and, ultimately, eliminating them.
There is no lack of qualified women to fill leadership roles. There are numbers galore from a range of government agencies and academics who study the field – and I have written on this subject as well – providing ample evidence that women earn the majority of university degrees at every level except for professional degrees. And more women are in the workforce today than ever before. So why aren’t there proportionately similar numbers of women in leadership roles? AAUW’s conclusion is that there is something inherent in the system holding women back.
AAUW suggests that blatant sex discrimination and stereotyping are still major problems. To overcome those barriers and take a major step toward achieving gender parity, the pipeline of potential leaders must be filled with more women willing and able to assume leadership roles. I have made that point in previous commentaries. But there is a flip side to that coin that is equally important: Men must be willing and able to take on more domestic responsibilities so that more women have the opportunity to pursue demanding fields.
“We also need to encourage enlightened employers who embrace a more flexible workplace, allowing women and men to move in and out of the workforce as they balance careers, family and personal goals. In essence, we all need to intentionally engage in making diversity and inclusion work on a daily basis,” according to the report.
Women leaders can benefit the bottom line. A 2012 Credit Suisse study found that companies with at least one woman on their board had a higher return on investment than companies with no women on their board. A 2007 Catalyst report on S&P 500 companies found a correlation between women’s representation on boards and a significantly higher return on equity, a higher return on sales and a higher return on invested capital.
Despite this growing mountain of evidence supporting the notion that women leaders is not just a matter of equality, it is also good business, too many organizations have yet to realize the potential of a fully diversified workforce.
The AAUW study calls on three groups – individuals, employers and policy makers – as key change agents in providing greater gender balance in the workplace. I want to focus on what “individuals” must do if the nation’s workforce is going to move toward that goal, and the nation is going to realize greater ROI – in both financial and human capital – as a result.
First, women. What must we do to put ourselves in the best possible position to move up the leadership ladder?
There is no question that we must be prepared for advancement. So, education – both formal and informal – is key. The kind of degree and internships we pursue as students both add to our formal knowledge and begin to build the network we will need to get a leg up when we leave academia. The earlier we lay the foundation for that network and develop the social skills required to build it, the greater our competitive edge when we enter the workforce.
As we look at potential employers, we should be aware of where we will be most comfortable. It is very difficult to succeed in an uncomfortable environment. As an individual, are you more comfortable in a hierarchical or collegial organization…fast-paced or laid back…formal or informal…does it prize initiative or conformity? And, will you be able to find a mentor or, better yet, a sponsor to help you move your career ahead; someone who recognizes your talents and seeks ways to move you forward?
Men (and organizations), can you identify your stereotypes and biases and put them aside? As an individual, are you prepared to pick up a larger share of the domestic side of “work/life balance”? In the workplace, can you influence or initiate mentorship and sponsorship programs or become a mentor or sponsor?
Women have made progress in the workplace, true. But we are nowhere near where we need to be. We are significantly underrepresented in the seats of power and policy, we still only earn about seventy cents for every dollar our male counterparts earn for the same work – even at the highest levels – and we are far too frequently penalized for “motherhood.”
When women are excluded at the top, for whatever reason, we all lose; and so does our country. And, since we all benefit from greater gender balance, we must all work diligently to achieve it.
Earlier this year, Washington, DC ,Mayor Muriel Bowser announced a three-year, $20 million investment targeting “the most urgent and persistent challenges” to realizing the potential of black men and boys in DC. Certainly a worthwhile initiative and one for which the Mayor should be applauded. But, when I looked for a similar focus on the needs of inner-city women and girls, I couldn’t find one. Unfortunately, this isn’t just a DC oversight. It exists nationally and shows up across our social, economic and business sectors.
Consider the biotechnology field, for example.
Venture capitalists – arguably the starting point for inventions, discoveries and new businesses in biotech – are more likely to fund white males over non-white minorities and females. According to recent findings by the National Center for Biotechnology Information, companies headed by male executives received 98% of all investments, while companies run by female executives received only 1% of the funding. And women-led start-up companies received only 7% of all venture capital funding in the United States.
The challenges women face and the disparity between funding for programs advancing men and women – particularly women of color – is documented in a report from the Open Society Foundations and the Foundation Center, showing that in 2011 foundations awarded more than $40-million in grants to support black boys and men, up from $29 million the previous year. Despite the overwhelming data that girls of color face the same and at times compounded set of obstacles as their male counterparts, no big foundations yet have major grant-making efforts that address their race- and gender-specific needs.
In 2012, just 5.4% of all foundation funding went to programs focused on women and girls, and less than 1% to programs focused on Black women and girls.
Over recent years, a number of initiatives have emerged to support boys and young men of color, with some two dozen foundations involved. But there have been few new efforts aimed at improving the lives of girls and young women of color, which begs the question: If support for boys and men of color is a priority, why are women and girls of color not an equal priority?
Of course, the answer is “they are”…or at least should be.
In my estimation, we need to do a few things to provide higher levels of funding to develop programs for girls and women with the same energy and urgency as we now do for disadvantaged boys and young men.
We need to recognize that girls and young women need the same kinds of role models now increasingly being provided to boys and young men. Women who have “made it” or are on the way up need to reach back to those who are following by becoming mentors and sponsors for young women who are searching for that resource and need trusted guidance and support.
We need to introduce young women and girls to business sectors and opportunities they might not otherwise have considered, and provide them with the skills and experience to compete in male-dominated fields, such as those making up the STEM business sectors.
There is some movement in that direction, but it is not growing quickly enough.
Last year, Booz Allen Hamilton created an initiative called STEM Girls 4 Social Good (SG4SG). It is an effort to bring together professionals and university summer interns with STEM backgrounds to work on some of today’s greatest societal challenges. During the kickoff week, Booz Allen joined Polaris and Girls Inc. of the Washington, DC, Metro Area for its annual six-week STEM camp. Booz Allen hosted 40 girls for a week-long focus on data science and its every day applications. With the support of talented mentors at Booz Allen, the Girls Inc. DC Metro Area girls learned ways that data science can improve the quality of life and, in this instance, help address the problem of human trafficking.
More initiatives like that are needed, as are partnerships with organizations like Girls Inc. of the Washington, DC, Metropolitan Area, exposing girls to opportunities they might not have dreamt possible and helping them build the confidence to pursue those dreams. As one 12 year old in Washington, DC’s, Girls Inc. program told us: “When I wake up, I see someone who is willing to do anything to achieve my dream.”
In addition to developing an overlooked resource our country sorely needs, - i.e. the talents of girls and women - there’s another, more personal, reason to invest time, mentoring, sharing skills and experiences with disadvantaged girls…it just feels good!