Women in leadership 2011 Cathy Ellwood


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This presentation was given at the Insurance Networking News Women in Leadership conference held in September 2011. It was designed to help women in leadership positions develop their own personal brand and to be comfortable with their unique differences from men in the workplace. It provides templates, tools and insights for women in leadership roles. Although specifically targeted for women in the insurance industry, most of the principles apply to women in any leadership role.

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Women in leadership 2011 Cathy Ellwood

  1. Program Rationale Identification & Selection Performance Extensive Based On-Boarding Feedback Placement Prepare for Diversify Attract and Future Leadership Retain Develop Broaden Raise the Bar Needed Skills Perspective Cross Foster Continuous Functional Innovation Learning Expertise
  2. Today’s Objectives1. Provide insights on Personal Brand2. How to leverage Networks & Relationships3. Actions you can take now to help you achieve career success
  3. What is a Personal Brand? It’s a Perception It’s a Reaction to Who You Are and What You Believe
  4. What is a Personal Brand? It’s Visibly Expressed by What You Do and How You Do It
  5. Personal Brand Attributes Distinctive  What do others think when they think about you?  What makes you stand out? Relevant  Is what you have to offer needed in today’s world?  Do you add value? Consistent  Do you consistently behave in ways that reflect your values?Source: Be Your Own Brand, David McNally & Karl D. Speak
  6. Career Brand DerailersBehavior Related Performance Related Relationship Issues  Fails to meet business • Arrogant and intimidating objectives  Misses deadlines, lacks • Self-centered accountability Disloyal breaks confidences  Too narrow functional Fails to learn from mistakes orientation Difficulty changing or adapting  Micro-manages Inflexible, resists new ideas  Limited perspective Negative, finds fault
  7. Your Brand Matters What Others Perceive is Reality It Takes A Long Time to Recover from Negative Perceptions Promotions Often Go To Those Who Are Perceived as the Best
  8. Brand ChallengesInternal External Never Thought About  Perceptions of Others it Before  Company Culture Not a Priority  Effects of Power Not Enough Time in  Differences of the Day (or Night) Communication Style It is Hard  Reinforcement of Stereotypes
  9. Perceptions Role Congruity - expectation that a person will act a certain way based on his or her gender or social norms Masculine / Feminine traits in all of us When you don’t act that way based on what others expect in that role, others’ perception of your leadership style wanes
  10. Culture  Determines the extent to which masculine and feminine traits fit  Need to understand culture to determine how you fit (and potentially accept the fact that you don’t)  Intensity / Crystallization of Values  Important to understand what is actually rewardedAnne Cummings, Wharton University of Pennsylvania, Women in Leadership, 2005
  11. Effects of Power – Influence Over OthersSource of Power Significance Brand ImplicationsReward  People perceive men have greater  Are you known for developing andAbility to give others reward power promoting others?something they want  Will others want to work for you?Coercive  Overall, used the least  Will others want to work for you?Ability to punish  Women tend to use more than men  Significantly influenced by role  May need more opportunities toExpert stereotypes demonstrate expertisePerceived level of  Men often given more chances to speak  May need additional education /competence  Society requires more “proof” for women certifications to demonstrate “proof”  Often requires legitimate power to be taken seriouslyLegitimate  Role congruity matters  Having a deep understanding ofRight to exert influence  Still appears greater for men what the culture actually rewards is(positional) keyReferent  An advantage women often have  How can you leverage your referentLikeability, ability to  Less powerful people are often power to strengthen your power inmotivate others expected to be more polite other areas?
  12. Communication Styles The Way We Talk & Look at Others • Report vs. Rapport • Debate vs. Relate • Fact vs. Opinion • Confidence vs. Tentative • Autocratic vs. Democratic Significant consequences for those who violate company culture’s gender role norms
  13. Reinforced Stereotypes In School At Home At Work Across Generations
  14. Diana Stein Education  M.B.A. Yale School of Management 2010  B.S.B.A. Duquesne University, Summa Cum Laude 2005 Professional Experience  Nationwide, FLRP Management Associate 2010 – Present  PNC Capital Markets, Investment Banking Analyst 2005 – 2008  Assistant Women’s Tennis Coach, Carnegie Mellon 2005 – 2008 Professional Development  Candidate CFA Level II
  15. Future Leader: One person’s experienceEmployers Experience Challenges in the Workplace  2005 – 2008  Challenging to identify  Investment sponsors Banking Analyst  Biased perception of you by  2010 – others based on gender Present stereotypes  Finance  Cultural norms often prevent Leadership top-talent from surfacing Rotation Program
  16. Building a network: Strong Ties versus Weak Ties Strong Ties Weak Ties Strong tie networks are  Weak tie networks are comprised of those comprised of those you know individuals that you engage and who know you; however, with in ongoing resource there is no on-going exchange exchange of resources Meet with individuals  Leverage social networks regularly for lunch, coffee • Linkedin - Colleagues etc. • Facebook – Friends, Peers
  17. Building a network: One person’s approach Although relationships with more-powerful associates can be particularly advantageous, its important to develop positive relationships with coworkers of all status – those above you, at the same level as you, and below you Direct FLRP Interns & Reports Specialists Industry Women in FLRP Peers Insurance Contacts Leadership Associates YOU Diana Yale Relatives Friends Relatives Duquesne NYU Rotation Boss Managers
  18. Relationships are the most-powerful tool Mentor SponsorSomeone that can teach you and help you to growSomeone that can offer encouragement, acceptance,friendshipSomeone that is willing to offer tough love,constructive feedbackSomeone that is willing to identify stretchassignments for youSomeone that is willing to be your advocate –Actively promotes your career
  19. What role have mentors and sponsorsplayed in your career? Experience Experience with with Mentors? Sponsors? Experience as Experience as a Mentor? a Sponsor?
  20. Building a brand: One person’s approach Perception Reputation Consistency FLRP BI-WEEKLY MESSENGER Executive success hinges on September 5, 2011 3) What challenges do you face as the leader of such a diverse portfolio (e.g.: claims, NI, D&CS)? three forms of leadership FLRP Spotlight Mark Pizzi, President & COO, As you move up in an organization the biggest challenge is Nationwide Insurance recognizing that what made you successful in your past role is likely not what will make you successful in your new Thank you to Mark Pizzi who agreed to be role. Specifically, early in my career I had to be great at featured as our FLRP Bi-Weekly the tactical piece of insurance – underwriting. As I’ve Messenger Spotlight. The following summarizes the Q&A taken on leadership roles throughout the organization; session with Mark on August 1, 2011. however, I’ve learned to back-away from the tactics, trust my team to do what they do best, and become more focused on leading the team. 1) What led you to a career in the insurance industry? I had actually planned on joining the military after college; Great leaders also love to learn. Taking on a new role – CFO / Finance however, was injured in basic training. My brother was whether lateral or upward – means taking on new working at Nationwide and so, with an injury inhibiting my plans, I applied and accepted a position as an underwriter. challenges. It is important to continue learning about a new business, a new function, or how to effectively work with a new team. Leader I’ve spent most of my career in the field and love that I still have the opportunity to lead people. Ultimately, leading any team successfully is about trust. 2) What characteristics distinguish a great leader? You need to trust your people and they need to trust you. Leadership boils down to working with and through others. 4) What do you believe characterizes a strong partnership It’s all about the people. Great leaders are good at hiring between finance and its respective BU? competent people and creating an environment for the team to thrive. The best leaders are focused on I believe the best finance partners are those that work hard developing their team and providing them with the right to understand the business – not just the finances of the resources. I probably dedicate at least 40% of my time to business. In order for finance to understand the business, people-related issues which includes everything from one- individuals should speak with underwriters, agents, CSRs on-one development discussions to teaching to asking etc. By understanding the nuances of the business, questions. finance can not only conduct the heavy analytics but also help the business become more creative and successful In addition to focusing on the development of others, great problem solvers. Of course a successful partnership is a leaders are able to clearly define their vision. Often times where you are going is somewhere the team has not been two-way street. The business needs to have respect for the staff office expertise whether finance, marketing, or human resources. Technical Project People and thus, clearly articulating a goal-state and demonstrating your passion to achieve is crucial to success. 5) We hear a lot about expenses being one of NW’s greatest challenges. What do you see as our greatest Leadership Leadership Leadership Confidence is another important characteristic of great opportunity? leaders. Leaders must make tough decisions and thus, a healthy amount of confidence is necessary for success. Simplicity. That said there is a difference between confidence and arrogance and the best leaders recognize that line. Nationwide is an eighty year old company made of up hundreds of past decisions, mergers, acquisitions, divestitures and a deeply rooted culture. I believe the greatest opportunity is to strive to simplify across our organization. Dress on the formal side  Spotlight Interviews  Development of Pilot Posture  Expense strategy Leadership Rotation Vocabulary, Articulation  Billing recommendations  Team-building call Confidence  Assignments outside center visit rotation
  22. Career Branding Toolkit 1. Personal Mission Statement 2. Career Interests & Objectives 3. Personal SWOT Analysis 4. Assessments (Updated) 5. Development Plan 6. Elevator Speech 7. Networking Plan 8. Feedback 9. Personal Board of Directors 10. Social Media Strategy (NEW) 11. Communication Strategy (New)
  23. Personal Mission Statement An Example Why do you exist? My purpose in life is to help my What do you value most? family, friends and colleagues live What makes you happy? a fulfilling life and achieve their ambitions. What do you want your I find I am most happy when I am legacy to be? doing things for others; particularly when I know that they need me. I want to be known for fostering the development of others by encouraging personal development and continued education.
  24. Elevator Speech One – two minute speech that effectively introduces you and answers the questions “Who are you and what do you do?” Include the most important three – four words that you want to be sure that others experience when they interact with you Practice delivering your speech in front of a mirror Create multiple versions for different audiences
  25. Social Media Exponentially increase your weak ties and potentially develop strong ones Establish yourself as an expert (or not) You may want (or need) to develop a social media strategy as part of your career branding toolkit
  26. Social Media and Your Career Employers Pre-Screening through Social Media Sites 100% 80% 60% 40% 20% 0% 2008 2009 2010* * 2010 EstimatedSource: 2009 Career Builders
  27. 35% Employers Found Data That Caused The Candidates Not to be Hired! Provocative or inappropriate photographs or information – 53% Content about drinking or using drugs – 44% Bad-mouthed previous employer, co-workers or clients – 35% Poor communication skills – 29% Discriminatory comments – 26% Lied about qualifications – 24% Shared confidential information from previous employer – 20% Used text language such as GR8 in e-mails – 16%Source: 2009 Career Builders
  28. 18% Employers Found Data That Caused The Candidates to be Hired! Profile was a good fit– 50% Profile supported qualifications – 39% Candidate appeared creative – 38% Showed solid communication skills – 35% Well rounded – 33% Good references – 18% Source: 2009 Career Builders
  29. Leveraging Social Media to Build Your Brand Go Ego-Surfing  Join Communities of Interest Find Your Passion  Contribute to Other Sites Define What You Want Others  Use Multiple Media Types (e.g. to Experience When They video, presentations, blogs) Experience You  Position Yourself as an Expert Get Started on Facebook, by Getting Endorsements LinkedIn, Twitter & Google  Begin Writing a Blog Buzz, then Evaluate other Social Media Sites  Evaluate Your Effectiveness through Online Analytics (i.e. Create Your Own URL and Link Google or Yahoo) It to Other Accounts
  30. Social Media Strategy Framework Private PublicPersonal  What do you want  What do you want to to share with your become known for? family & friends?  Share your interests  Keep others  Learn from others engaged in your  Update regularly relationshipsProfessional  Become known as  Increase your an expert at work recognition in industry  Demonstrate your  Increase knowledge willingness to help  Build peer relationships others and learn  Find new opportunities
  31. The Art of Presentation  Connect with Others  Know What You Want Your Audience to Get Energy Objective  Let Your Audience Flow Know Why You Care MotivationSource: Nancy Houfek, American Repertory Theatre, Harvard University
  32. Communicating Define Focus Your Desired Rehearse Thoughts Outcomes What you List and Anticipate Want to Group your Others’ Accomplish Ideas Reactions Impose a Ask Others What’s in it Logical for for Others Order Feedback
  33. Final Thoughts Challenge yourself to try something different Track and report your progress towards your developmental priorities and goals Continue Learning - Attend at least two educational offerings per year even if you have to pay for it Practice, Practice, Practice Invest in your Relationships Become a Sponsor Leave a Leadership Legacy for others