For months there's been intriguing talk that presumptive GOP presidential nominee Mitt Romney might pick a prominent woman as his running mate to help give his campaign a kick – and layer on some luster to a plain vanilla, hyper-cautious and meticulously run campaign.
Among the potential picks, four women, more than any others, have consistently been mentioned as possibilities in the Republican vice presidential sweepstakes:
Sen. Kelly Ayotte of New Hampshire, 44, the former state attorney general and relative political newcomer, who just spent a sweltering July 4 campaigning with Romney.
South Carolina Gov. Nikki Haley, 40, a Tea Party favorite and one of Romney's early supporters, who recently ducked ethics violations charges related to campaign lobbying.
Gov. Susana Martinez of New Mexico, 52, the first female Hispanic governor in the U.S., who could potentially give Romney a boost with a constituency he sorely needs.
Former Secretary of State Condoleeza Rice, 57, who served in the Bush administration and would bring the foreign policy bona fides that Romney lacks.
Just this week, Romney's wife, Ann, said that her husband is thinking about picking a woman to be on his ticket this fall. "We've been looking at that and I love that option as well," Ann Romney told CBS News, as he looked on beside her. She said the person selected for the No. 2 spot on the ticket should be "someone that obviously can do the job but will be able to carry through with some of the other responsibilities."
High-profile female executives should save their breath and their advice – Millennial women aren’t buying what they’re selling.
Only 20% of Gen Y women say that they want to follow in the footsteps of the female leaders in their workplaces, says new research from Bentley University. The survey of 1000 college-educated Millennials found that while 84% of respondents said that they could identify at least one female leader at their job, most didn’t want to emulate her career path.
This rejection of the current iteration of female corporate achievement also extends to attitudes toward mentorship; only 5.5% of respondents claimed that a colleague, supervisor or role model was their primary source of career cheerleading, with spouses/partners or parents much more likely to be identified as key career supporters. And only 25% of Millennials of both genders give credit to a manager or supervisor for encouraging them to assume a leadership role at work.
Many of today’s women-owned businesses (WOBs) are led by recession-tested entrepreneurs whose experiences provide valuable insight into the challenges that may await aspiring small business owners. A new study released by Chase Card Services, a division of JPMorgan Chase & Co., NFIB and the Center for Women's Business Research, looks at how women small business owners performed during the “Great Recession.”
The results of Financial News’ recent Women in Finance Survey bear out a similar view: 82% of hedge fund respondents said their gender has affected their likelihood of having a successful career, substantially higher than the 66% of total respondents who felt the same way. So why do women in hedge funds feel their gender makes it harder to succeed?
Most women in the hedge fund industry do not work in portfolio management positions, which create the performance upon which the hedge fund industry is built. Only 12% of the 10,000 members of 100 Women in Hedge Funds work in trading and portfolio management and the largest proportion, 26%, are in marketing roles.
Rachel Stewart, a consultant at global executive search firm Odgers Berndtson, said: “Among some of the experienced women, the feeling is that women coming into the industry now should be led towards more roles than marketing, operations and HR. It’s more difficult to get a seat as a partner or director if you don’t have a background of P&L responsibility, as this is the bread and butter of the hedge fund industry.”
Since 2007, McKinsey’s Women Matter research has explored the role women play in the global workplace, their experiences and impact in senior-executive roles, and the performance benefits that companies gain from gender diversity. In this video, McKinsey partners Joanna Barsh, Sandrine Devillard, Emily Lawson, and Jin Wang recount the progress women have made in reaching the executive suite.
Many companies are making serious efforts to improve the number of women in top jobs. Some detect progress. But others say change is frustratingly slow. This report looks at what companies can do to make a breakthrough.
Researchers from the universities of Leicester and Essex looked into the concept of "adulting," which is defined as the attempt by people to be seen as mature and responsible, professionally and socially, and, when looking at a London hedge fund, found that women faced problems at every stage of adult life – from getting started in the company to keeping credibility among colleagues after giving birth.
By contrast, young male staff were given more opportunities to settle into corporate life, and suffered fewer dilemmas in juggling work and parenthood, found Jo Brewis, Professor of Organisation and Consumption at the University of Leicester School of Management, and Dr Kat Riach, Senior Lecturer in Management at Essex Business School at the University of Essex.
"Our in-depth research into life for male and female workers at a busy hedge fund showed women are never the right age in organisational terms," said Professor Brewis, who has borrowed the phrase 'never the right age' from fellow management experts Professor Wendy Loretto and Dr Colin Duncan from the University of Edinburgh Business School, who originally coined it. Professor Brewis and Dr Riach gathered evidence in late 2010 through 53 interviews with men and women at the fund aged between 25 and 37, and 150 hours of observation.
They found that women's problems began when they entered the company. Unlike their male colleagues they were given little or no informal guidance and training as new members of a team.
While opinions on diversity are wide-ranging, the facts are pretty clear. Study after study has shown women to be more risk-averse than men, across a range of activities, including the Wall Street businesses of investing and trading. Study after study has shown that women place greater emphasis on interpersonal relationships, and on nurturing them, than do men. And studies show that female managers are less focused on winning in the short term and are more long-term-oriented than their male counterparts.
Do any of these sound like qualities the big banks could use more of?
Perhaps as a result of the complementarity of differing approaches of men and women, numerous studies, including the annual Women Matter surveys by McKinsey & Co. and research by Catalyst, show that more diverse management teams are more successful management teams; they deliver higher returns for shareholders across industries, including banking. Academic research indicates that more diverse teams outperform even more capable management teams, a real “wow” of a finding.
How can this be? Because adding one more PhD in applied mathematics to a team already full of them has much less effect than adding someone with expertise in, say, managing people or in IT systems. If diversity of color and gender is a proxy for diversity of experience, then adding that diversity to management teams helps bring different perspectives to the table.
Ultra-orthodox, or haredi, women are joining the Israeli labor force in increasing numbers and many are choosing to work in technology, attracted in part by the industry’s willingness to accommodate their religious lifestyle.
Ultra-orthodox, or haredi, women are joining the Israeli labor force in increasing numbers and many are choosing to work in technology, attracted in part by the industry’s willingness to accommodate their religious lifestyle. While that has helped keep jobs that might otherwise have gone offshore, their husbands’ joblessness is a drag on economic growth, according to the Bank of Israel and the International Monetary Fund.
“A continued increase in the share of the population which does not participate in the workforce cannot continue forever, and so will have to stop,” Bank of Israel Governor Stanley Fischer said earlier this year. The imbalance has to be corrected for the health of the economy, he added. The central bank predicts growth will slow to 3.1 percent this year from 4.8 percent in 2010 and 2011.
While the ultra-Orthodox make up about 8 percent to 10 percent of the population, they will represent 17 percent of working-age Israelis in 20 years because of their high birth rate, according to the bank. By the late 2050s they will account for a quarter of the population, a March 9 IMF report found.
First, thanks to Anne-Marie Slaughter for peeling the band-aid off an open wound of American womanhood. It’s our dirty little secret: balancing work and family is still impossible for elite American women because of the way we structure work, family, love, marriage, careers, masculinity, and dignity.
Yes. It’s that bad. Fifteen years ago, when I began to write Unbending Gender: Why Family and Work Conflicts and What To Do About It, I thought that all we needed to do was to reshape work and careers. The key problem for women, I pointed out, is that workplaces still are designed around an ideal worker who starts to work in early adulthood and works, full time and full force, for forty years without a break, taking no time off for childbearing, childrearing, or anything else. The result is a clash of social ideals. The ideal worker norm clashes with the norm of parental care: the widespread and uncontroversial sense that children need and deserve time with their parents.
The solution is to reshape workplaces around the values we hold in family life. Careers need to be more flexible, such that career breaks do not spell career doom. Hours expectations need to be more flexible, such that a failure to work “full time” does not derail one’s career. Face time needs to end, allowing people to work when and where they need to, so long as the work gets done. Each of these ideas has subsequently been further developed. Here are twogood examples.
FastCompany profiles high-achieving women from the world's largest companies, innovative startups, philanthropic organizations, government, and the arts combined forces to change the lives of girls and women everywhere.