The career advice you probably didn't get | Susan Colantuono

Summary

The speaker highlights the disparity between the high percentage of women in middle management and the low representation at top organizational levels. They emphasize the missing 33% of career advice for women: business, strategic, and financial acumen. Through the story of Tonya, a capable VP overlooked for promotions, the speaker underscores the importance of understanding and demonstrating these skills for career advancement. The talk calls for systemic changes in talent management and mentoring practices to help women break through to senior leadership roles and achieve strategic alignment in organizations.

Takeaways

• 👩‍💼 Women make up 50% of middle management and professional roles, yet are significantly underrepresented at the top of organizations.
• 🤔 The focus should shift from questioning the scarcity of women leaders to understanding the barriers preventing women from advancing to top leadership positions.
• 💼 Tonya's story illustrates the frustration of being passed over for promotions despite having strong performance evaluations, a supportive team, and a commitment to growth.
• 🔑 There is a 'missing 33 percent' in the career success equation for women, which is the understanding and demonstration of business, strategic, and financial acumen.
• 📈 Leadership advancement requires not just personal and interpersonal skills, but also the ability to contribute to an organization's strategic and financial goals.
• 🌟 The skills and competencies related to business acumen are rated more heavily when identifying high-potential employees for top leadership positions.
• 💡 The conventional advice given to women often overlooks the importance of business acumen, focusing instead on personal development and interpersonal relationships.
• 📊 Organizations' talent and performance management systems tend to underemphasize the importance of business acumen compared to other leadership elements.
• 🤝 Men often receive informal mentoring that includes business acumen development, which women are less likely to receive, contributing to the gender gap.
• 🛠 Women need to focus on developing and demonstrating their business acumen to make the breakthrough to senior leadership positions.
• 🔍 All stakeholders, including board members, CEOs, HR executives, and managers, have a role in ensuring that the importance of business acumen is recognized and emphasized for career advancement.

Q & A

What is the current representation of women in middle management and professional positions?

Women represent 50 percent of middle management and professional positions, indicating a significant presence in these roles.

Why do some women struggle to advance beyond middle management despite their qualifications and efforts?

The script suggests that there is a 'missing 33 percent' in the career success equation for women, which is understanding and demonstrating business, strategic, and financial acumen.

What does the 'missing 33 percent' refer to in the context of the script?

The 'missing 33 percent' refers to the underemphasis on the importance of business, strategic, and financial acumen in the career advice given to women, which is crucial for advancement to top leadership positions.

What is the significance of business, strategic, and financial acumen in moving up in organizations?

These skills are rated twice as heavily as other leadership competencies when organizations identify employees with high potential for top leadership positions.

Why is it important for women to understand and demonstrate business, strategic, and financial acumen?

It is important because these skills are critical for achieving and sustaining extraordinary outcomes by engaging the greatness in others and effectively contributing to the organization's strategic financial goals.

What is the role of mentors in the career advancement of women?

Mentors play a crucial role, but the script points out that often they may unknowingly provide different advice to women versus men, focusing more on building confidence for women rather than teaching them the business.

What is the impact of conventional career advice on women's ability to close the gender gap at the top?

Conventional advice, which focuses more on personal actions and working with others, is essential for breaking into middle management but does not effectively help women advance to senior and executive positions.

How do talent and performance management systems contribute to the gender gap in organizations?

These systems often focus more on personal greatness and engaging the greatness in others, rather than on business acumen, thus not adequately preparing women for top leadership roles.

What actions can women take to demonstrate their business, strategic, and financial acumen?

Women can weave financial impact data into their project updates, demonstrate understanding of the organization's strategy and financial targets, and take actions or make recommendations that align with these goals.

What role do executives, HR, and board members play in addressing the 'missing 33 percent'?

They should emphasize the importance of business acumen in their talent development and performance management systems, expect proportional pools of women in succession discussions, and challenge unexamined mindsets about women in leadership.

How did Tonya's story illustrate the importance of the 'missing 33 percent'?

Tonya was able to secure a new position reporting directly to the chief information officer after she was able to demonstrate her business acumen and strategic insights during her interview.