How to find the person who can help you get ahead at work | Carla Harris

Summary

In this insightful talk, the speaker reflects on their experience at a Wall Street roundtable in 1988, where the meritocratic process of evaluating professionals was revealed to be subjective and influenced by human factors. The speaker introduces the concept of a 'sponsor,' someone who advocates for you behind closed doors, ensuring your success. By discussing performance and relationship currencies, the speaker emphasizes the importance of having a sponsor to advance in any organization. The talk concludes with a call for those with power to use their influence to help others rise.

Takeaways

• 😀 Meritocracy is often a myth; performance alone doesn't guarantee career success.
• 😀 Having a sponsor in your career is crucial for advancement, especially in environments with subjective evaluations.
• 😀 A sponsor is someone who advocates for you behind closed doors, using their influence to push for your success.
• 😀 Performance currency is earned by exceeding expectations in your work and is valuable for gaining visibility.
• 😀 Relationship currency is built by connecting with colleagues and decision-makers, which increases your chances of getting a sponsor.
• 😀 A sponsor must have three main characteristics: a seat at the decision-making table, exposure to your work, and the power to influence decisions.
• 😀 Sponsors are essential for promotions, as they argue on your behalf during evaluations and other closed-door discussions.
• 😀 If you don’t have a sponsor, you can actively seek one by building relationships and demonstrating your worth.
• 😀 Asking for a sponsor requires a direct, confident approach, explaining your work and readiness for advancement.
• 😀 A mentor provides advice, but a sponsor actively works to advance your career, making their role more critical for professional success.
• 😀 The key to gaining a sponsor is to ensure they know you, your work, and can speak to your contributions and potential.

Q & A

What is a 'roundtable' as described in the script?

A 'roundtable' refers to an evaluative process on Wall Street, where professionals like analysts, associates, and managing directors are discussed behind closed doors and categorized into top, middle, or lower buckets for determining their bonuses.

How does the speaker initially react during the roundtable evaluation process?

The speaker is eager to understand the process and how the concept of a meritocracy works. They are particularly interested in how their own performance and bonus would be evaluated.

What key realization does the speaker have during the roundtable?

The speaker realizes that a meritocracy is a myth. Human subjectivity influences the evaluation process, meaning that success depends not only on merit but also on who presents your case and how they present it.

What is the significance of having a sponsor, according to the speaker?

A sponsor is crucial because they use their political and social capital to advocate on your behalf, especially behind closed doors where important decisions are made, influencing your career progression.

What are the two types of currency discussed in the script?

The two types of currency are performance currency and relationship currency. Performance currency is earned by delivering exceptional results, while relationship currency is built through the investments made in relationships with others.

How can performance currency help in getting a sponsor?

Strong performance currency raises your visibility and reputation, which can attract a sponsor because high achievers are often noticed and valued in organizations.

What is relationship currency and why is it important for gaining a sponsor?

Relationship currency is built by connecting and engaging with people in your environment. It is important because sponsors are more likely to advocate for you if they know you personally and have a genuine relationship with you.

What characteristics should a sponsor have, according to the speaker?

A sponsor should have a seat at the decision-making table, exposure to your work to have credibility, and enough power to influence outcomes on your behalf.

How should you approach asking someone to be your sponsor?

You should approach them by highlighting your accomplishments, stating your desire for a promotion, and acknowledging that you need someone to advocate for you behind closed doors. If they know you and your work, they may agree to help.

What could cause someone to say 'no' when asked to be a sponsor?

They might say no for three reasons: they don’t have enough exposure to your work to be credible, they lack the power to make a difference, or they simply do not like you.

What is the ultimate takeaway from the speaker's message about sponsors?

Having a sponsor is essential for career advancement. While mentors are helpful, you need a sponsor to truly ascend within an organization. You should invest in building these critical relationships for your success.