WOMEN IN BUSINESS
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Fairbanks Daily News-Miner
About this publication
Wednesday, October 19, 2016
WOMEN IN BUSINESS
O
ctober is National Women’s Small Business Month, an event championed by the National Women’s Business Council, a nonpartisan federal advisory council to the president, Congress and the U.S. Small Business Administration. Women still face many obstacles in the workplace such as sexual harassment, gender bias and wage discrimination. However, women have made advances across the business spectrum. We’re celebrating the success of women in business by highlighting Interior Alaska women who own and manage a variety of successful enterprises in our community.
Index Local profiles: Donna Gates.................................................... 2 Natalie Kimberlin, Laurelie Denning; Galilee Halbert............................ 3 Kathy Mayo...................................................... 9 Kimberly Wonderlich.................................... 10 Tammy Phillips............................................... 17
Donna Gates, owner of Tonglen Lake Lodge. PHOTO COURTESY EVA CAPOZZOLA.
Gates’ Tonglen Lake Lodge builds on community By Kris Capps KCAPPS@NEWSMINER.COM
Other stories: Economic sweet spot................................... 4 Flex schedules................................................ 8 Female CEO effect on returns................... 9 Diversity in the boardroom....................... 15 Workplace wage gaps................................. 16 The Mom Project........................................... 20 Delaying retirement..................................... 21 Tech internships for moms........................ 22
DENALI PARK, ALASK A — Tonglen Lake Lodge was a brand new venture when it opened in the Denali Park area in 2013. But its owner was a familiar face. Donna Gates, a longtime renowned Alaska artist, turned her artistic focus from canvas to property. She has often said that the land that Tonglen Lake Lodge sits upon is her new palette. This location, just south of the entrance to Denali National Park, is her home. It is where she has lived for nearly 40 years and where she raised her three daughters. “I was in the tourism industry
for so long. People already knew me and my other businesses,” Gates said. “That sort of personal connection with business people around the state was really super supportive and really helped this business take off, for sure.” Tonglen Lake Lodge, about to enter its fifth season, is in a picturesque setting, up a long and winding road off the Parks Highway. So it has a definite feeling of remoteness. It also has a feeling of community. That’s because Gates recruited talented community members to add their flair to the lodge. A local stained glass artist created the windows. A local woodworker built all the furniture. Well-known log
builders Will and Kim Blair built the actual lodge. A local potter created all the dishware for the Artisan Cafe. The list goes on and on. “It’s a nice showcase of talents,” Gates said. “I’m at a point in my life where I want to do something to give back to the community. I wanted to create something beautiful that people could come and enjoy and touch the real Alaska.” She came to the area in 1980 and noted that a lot of friends, who also arrived during that same time, now own and run local businesses. “We all grew up together,” she said. She was always aware of the chalGATES » 4
Fairbanks Daily News-Miner
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WOMEN IN BUSINESS
Sisters create haven at Charlotte Rouge By Nancy Tarnai FOR THE NEWS-MINER
Charlotte Rouge Hair Spa is an oasis of peace in Fairbanks. Owned by three sisters, the business offers a quiet haven from life’s hectic pace, a place where people show up for a haircut and color and leave with a sense of having been well cared for. Natalie Kimberlin, Laurelie Denning and Galilee Halbert were born and raised in Interior Alaska. “Growing up on a ranch, we were all well established in what it meant to work, from bucking hay bales, mucking and ice chipping frozen horse manure to assisting in the fencing projects, or just the regular 15 acreage upkeep,” Kimberlin said. Ranch life had its perks, especially since the girls could ride horses as often as they wished. The three women grew up with two brothers and were home-schooled. After discovering a mutual love of
styling hair as teenagers, all three worked as coffee cart baristas to earn pocket money to get through beauty school. Halbert went to beauty school first in 1999 when she was 17. “Because Laurelie and I were inseparable, I asked her to go to beauty school with me,” Kimberlin said. “You could say I was selfish, but I still wanted my best friend to be with me through a new and exciting adventure.” Kimberlin was 17 and Denning 16 when they went to beauty school in 2007. They opened Charlotte Rouge in 2009. “One of us blurted out the idea of owning a shop together,” Kimberlin said. At the time the idea sprouted, the two younger women were still in beauty school. “I think like anything else you do together, like a friendship, like a marriage, we all have our opinions, we all have our differences, but we all share one reality which is God loves on us
abundantly and that is what we desire to share with each person that sits in our chair, his love,” she added. The sisters’ philosophy is that business owners get out of their company what they put in. “We give our whole selves into what we do,” Kimberlin said. “And because of that our clients are not just clients, they are our dear friends. “The best part of operating our business is not only working together as biological sisters but also having the pleasure of running a business with our unique, beautiful and irreplaceable group of women who we hold dear enough to call sisters,” she said. “At Charlotte Rouge, our goal is sharing Christ’s love in everything, because we believe friendships truly matter.” Charlotte Rouge is located at 3550 From left to right sisters Laurelie Airport Way in the Caribou Building. Denning, Galilee Halbert and Natalie The phone number is 451-4772. Kimberlin ham it up in front of their Nancy Tarnai, a former News-Miner reporter, is shop, Charlotte Rouge Hair Spa. a freelance writer living in Fairbanks. She can be reached at njtarnai@gmail.com.
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WOMEN IN BUSINESS
GATES
Continued from 2 lenges of the tourism business and confident that she felt strongly connected to the local community. So bringing all those local talents together seemed a natural next step for her business. “We are kind of a hybrid/cross between a B&B and a lodge, kind of hovering between those two,” she said. “Which I think is pretty unique for the area.” Her initial plan of building 10 individual private cabins has come to fruition. But she has continued to add features to the lodge, every season. For instance, she has converted her home into a B&B, renting rooms there to visitors as well. This fall, those rooms were newly remodeled and will be available to rent, without breakfast, through the winter, for the first time. She even has a treehouse that is a popular summer rental. The main lodge includes an Artisan Cafe and Gallery, a coffee/bake shop in the morning and a bistro in the evening. The gallery features Alaska artists, with regular art openings. The upstairs area in
the main lodge is a perfect venue for performances, workshops and receptions. There’s also an outdoor theater and popular, comfortable swings around a campfire. Because she is an avid dog agility competitor, the lodge also offers day boarding for pet dogs and a dog grooming facility and training arena. A special classroom serves as a setting for yoga and dance classes or meetings. This past summer, she added guided hikes directly into the wilderness from the lodge and next summer she will offer campfire talks and morning coffee chats several times a week. “I just kept adding stuff,” she laughed. “And ya know, in all honesty, I wasn’t sure if I was going to be able to pull it off, but I thought it would be fun trying. “And it was. “And it happened.” For more information, see www.tonglenlake.com. Call 907-683-2570 or email lodge@tonglenlake.com. The lodge is located seven miles south of the entrance to Denali National Park, just off Mile 230 Parks Highway. Directions are at http://tonglenlake.com/reservations/ location.
Women are in the new sweet spot of the U.S. economy, study finds By Peter Coy BLOOMBERG
Women still earn less than men, but they’ve narrowed the gap because they tend to work in jobs that require more social and analytical skills, a new study from the Pew Research Center finds. Those jobs are increasingly prized in the U.S. economy, while jobs calling for physical and manual skills are becoming less important, the study says. Women’s pay went up 32 percent while men’s pay went down 3 percent from 1980 to 2015, according to the study, “The State of American Jobs.” Those figures are adjusted for inflation and apply to people working full-time, year-round. Even after all that progress, women still earned 20 percent less than men-$40,000 vs. $50,000 in
median annual earnings for fulltime, year-round workers. Pew didn’t attempt to explain the gap, but economists tend to attribute it partly to sex discrimination and partly to factors such as women’s interrupting their careers to raise children. Plus, even though the U.S. economy is changing in a direction that benefits women, the jobs in which they’re most concentrated, such as child care, still often pay less than jobs in fields such as manufacturing, in which men are concentrated. The Pew study, which was conducted with the Markle Foundation, also found that the jobs of the future will require more skills and training. But, in a twist, many workers felt that the jobs they have now could be done by people with less education than they have.
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WOMEN IN BUSINESS
Report: Flexible schedules reward dads, not moms The men, however, saw an earnings increase beyond overtime pay after switching from a concrete schedule to flexible hours. They banked an average of 1,000 more euros (about $1,125) per year. The women enjoyed no such gains. “Employers tend to believe that women use flexibility mainly for family-friendly purposes, which results in women not being rewarded in the same way as men when using flexibility,” Chung wrote last week, “regardless of the increase in their devotion to work they exhibit.” The report carries relevance in the United States, where the time Americans spend at work has increased sharply over the past four decades. The average worker amasses 1,836 hours per year, up 9 percent from 1,687 in 1979, according to
the Economic Policy Institute. The trend probably stems from technological advances: omnipresent smartphones, video chat, Google docs. (Note lower-paying jobs and work that involves physical labor are less likely to accommodate flexible schedules.) Meanwhile, about three-quarters of U.S. firms now allow some kind of scheduling flexibility, government data show. Researchers warn a rise in flexible work will not level the playing field for working parents, particularly mothers, if bosses cling to old stereotypes about primary caregivers. A study last year from the Harvard Business School found women were judged more harshly for leaving the office early. German women, like Amer-
ican women, still shoulder the majority of domestic responsibilities. Chung’s research suggests what a large body of academic evidence already supports: Mothers are sometimes viewed as less committed employees, regardless of their productivity -- and that perception appears to show up in the way they are paid. A Third Way study this year found fatherhood on average brings a 6 percent wage boost for each child, while motherhood is associated with a 4 percent pay penalty. “Greater fle xibility and autonomy over work sound great — and could well herald a new era of better work-life balance,” Chung wrote. “But ... we need to better understand exactly what’s going on to tackle some of these negative consequences.”
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Flexible schedules free workers from rigid hours, boosting their health and productivity. Or they kill collaboration. It depends on who you ask. Some business leaders bill the workplace policy as a panacea for working parents. Why take a day off when your child has the flu if you have a laptop? Others — perhaps most famously, Yahoo’s Marissa Mayer — say staffers working at different times and locations cramps quality. “To become the absolute best place to work, communication and collaboration will be important, so we need to be working side-byside,” Yahoo told its employees in a 2013 memo that prohibited them from working from home.
Heejung Chung, a sociologist at the University of Kent in England, recently drove the discussion further, bolstering the idea that employees who work from home put in longer hours — though no one can definitively say whether that labor is better or worse. In the study, published this month in the European Sociological Review, Chung’s team examined the work habits of German employees with flexible work hours from 2003 to 2011 and found they bagged more overtime pay than those in stricter arrangements. That pattern held true regardless of position or type of job. Chung found that men and women in full-time jobs with flexible schedules worked about the same amount of overtime hours. The same went for mothers and fathers.
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Wednesday, October 19, 2016
WOMEN IN BUSINESS
Mayo achieves her personal vision for success By Nancy Tarnai FOR THE NEWS-MINER
Kathy Mayo didn’t study the help wanted ads when she lost her job two years ago; she created a vision board. “I wanted to have clarity,” Mayo said. “If you see it in front of you it becomes achievable.” She has already accomplished nearly everything on that wish list. Mayo launched her own company, Kathy Mayo and Associates, and took on the role of executive director of the Pipeline Open Data Standards Association (PODS), an international association of pipeline operators and service providers. “I’m always in growth mode,” Mayo said. “I’m always learning and there are a lot of things stirring. It’s a fascinating journey.” Mayo credits the Inspire Leadership Academy, a ninemonth training, for giving her the tools to create the life she dreamed of. Born and raised in Fairbanks, Mayo earned a bachelor’s degree in business administration at the University of Oregon. She served as the founding executive director of the Doyon Foundation and
founding director of Section 29 (now Alaska Native Program) for Alyeska Pipeline Service Co. She later worked on the federal side in pipeline regulatory oversight. “I’ve been working in and around pipelines for 18 years,” she said. “Pipeline Open Data Standards Association provided a great mutual opportunity.” Mayo was the chief administrative officer at Tanana Chiefs Conference before becoming a business owner. “I am able to continue creating opportunities in economic development and project development for the Interior and statewide through my business,” she said. “It’s about bringing people together,” she said, “the right people at the right place at the right time to create opportunities and solve complex problems in resource and project development.” PODS Association is her biggest client, and while most members are based in Houston, Texas, Mayo works from her home in Fairbanks. “I can run a virtual office anywhere,” she said. Due to the time difference, Mayo rises at 4 a.m. to prepare for the business day in Texas but doesn’t mind. “I get up and
hit it and stick with it,” she said. “With Go To Meeting and other online technology, I can work from anywhere.” Staying focused on the job while at home isn’t an issue. “I thought it would be a challenge but I love it,” she said. Mayo’s role with PODS is to help the organization advance standards in big data related to pipeline operation, as well as data interchange. Her work with her other clients is to help company executives, managers and public affairs people be understood by stakeholders so their companies can be successful in moving projects forward in Alaska. “It’s about political and business relationships and understanding how we can all work together,” Mayo said. “I like preparing my clients to ready them for success, whether it’s briefing them for complex meetings and understanding the lay of the land so they go forward prepared. “You have to understand multi-faceted, hugely complex subject matter and enjoy it,” Mayo said. Success requires being responsive to clients and providing them more than they need, she said. “I want to
Kathy Mayo created her own business after losing her job two years ago. ERIC ENGMAN/ NEWS-MINER
exceed their expectations.” Goals are to expand her business, work on more projects and hire more talent. For the future, she has her eye on military expansion. “I’d like to be involved in some aspect of
these projects; this is an exciting time for the Interior and the state,” Mayo said. Nancy Tarnai, a former News-Miner reporter, is a freelance writer living in Fairbanks. She can be reached at njtarnai@gmail.com
Investors weigh whether a female CEO matters to market returns By Alicia Ritcey BLOOMBERG
Some investors are finding that companies with more women in top positions outperform. Now they’re starting to wonder: How much does a female CEO add to market returns? On one hand, a company led by a woman has reached the pinnacle of corporate diversity efforts, but on the other hand,
some investors worry that women are too frequently appointed to helm struggling companies, running off the “glass cliff.” Market returns bear out both points, showing that female CEOs frequently deliver strong performance, but are often handed a difficult job to start. “It’s the cynical view,” said Alison Cook, a management professor at Utah State University, who has studied the glass cliff. Women may take a tough job
because it’s one of their only opportunities, while men may avoid it because they know “their chances of succeeding and being the hero are slim,” she said. To be sure, in 2016, it’s still rare for a woman to helm an S&P 500 company. Only 5 percent of the companies in the index had a female CEO, according to data compiled by Bloomberg. But the debate is taking on
new significance as investors pour millions of dollars into funds and indexes with strategies based on corporate diversity. In the six months through June, assets linked to equity and debt products with a gender-based strategy climbed 150 percent to $560 million, according to investment firm Veris Wealth Partners. The Pax Ellevate Global Women’s Index Fund, backed in part by former Citigroup
Inc. and Bank of America Corp. executive Sallie Krawcheck, reached over $100 million in assets this year. The fund invests primarily in companies that have at least 30 percent women on their boards and 25 percent women in senior management. In the two years through Aug. 31, the fund’s institutional class shares returned 2.36 percent, compared to the MSCI World CEO » 14
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WOMEN IN BUSINESS
Army veteran Wonderlich finds home, builds practice in Interior Alaska their kids and spend their breaks with them,” she said. “I never want my staff to leave their kids with a stranger and hope everything will be all right, like I have had to do in the past. “I hope this takes off on a bigger scale in Fairbanks.” Wonderlich, of Pennsylvania, earned a bachelor’s degree in history at Lycoming College and a post-baccalaureate certificate in pre-medicine at Pennsylvania State University. She served in the U.S. Army from 2000 to 2015, where she went through medical school and did her residency in Texas.
By Nancy Tarnai FOR THE NEWS-MINER
Dr. Kimberly Wonderlich knows the value of mentorship and strives to inspire and encourage her staff and patients to further their education and achieve goals they hadn’t even considered. As a mother of four, Wonderlich said finding quality child care has long been one of her greatest challenges. When she opened Wonderlich Dermatology in August 2015, she included a nursery in the floor plan and hired employees to care for the staff ’s children. “It’s nice that the moms can check on
WONDERLICH » 11
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She was deployed to Afghanistan from 2008 to 2009. “The Army wanted to send us to Louisiana or Oklahoma and we begged for Alaska,” she said. “We belong here; it’s a really good fit.” She loves the stability of having a hometown after moving so many places with the military. “Now I can control my destiny,” she said. Wonderlich and her husband, Dr. David Wonderlich, a surgeon at Bassett Army Community Hospital, and children ages 5, 9, 10 and 12, enjoy kayaking, hiking, skiing, hunting and ice skating. “I’m not great at any of the activities, but I love them all,” she said. After years of regimented Army life, Wonderlich wanted to be her own boss. She is undaunted by the challenges of being the only physician in the clinic and being the owner. “You make it work,” she said. Since she had no business training, she had to teach herself how to be a small business owner. “The health care
is a freelance writer living in Fairbanks. She can be reached at njtarnai@gmail.com.
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system is challenging and I’m learning how to maintain a profitable clinic while giving quality health care.” The clinic offers birth to death dermatology care, everything from skin cancer to cosmetic services. Wonderlich makes sure to keep abreast of the ever-changing laser and body contouring technology and purchases top-ofthe-line equipment. Dermatology is complex in Interior Alaska due to the dry, cold environment, Wonderlich said. Her goal is to create the feel of a big city dermatology clinic in a small town so that patients don’t feel compelled to travel to Anchorage or Seattle for cosmetic procedures. “We strive to provide quality care with the newest technology,” she said. “There is a huge desire for this in Fairbanks.” Wonderlich Dermatology is located at 3202 International St., Suite 150 and on the internet at wonderlichderm. com. Call 456-1979 or email info@ wonderlichderm.com Nancy Tarnai, a former News-Miner reporter,
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Continued from 9 Index’s 1.13 percent return over that period. “It’s the least crowded trade with the most evidence,” Krawcheck said in an interview. Even Pax is struggling with whether companies that have women in the very top spot should get extra credit. When selecting companies for the fund, Krawcheck only gives companies with a female CEO a “smallish” benefit, compared to the weighting for women on boards or in senior management overall. The weighting in part reflects Krawcheck’s own experience in the top echelons of Wall Street. “There is, to my mind, absolutely no doubt that there’s a glass cliff,” Krawcheck said, noting she was brought into Citigroup as CEO of Smith Barney at a time when the business was struggling and the company
Wednesday, October 19, 2016
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WOMEN IN BUSINESS They turn over every stone. Female CEOs are very calculated risk-takers.” Trina Gordon, CEO of executive recruitment firm Boyden World Corp.
needed a “different” approach. Women CEOs, are often asked to do an “impossible job” she said, citing the experience of CEOs like Yahoo! Inc.’s Marissa Mayer and General Motors Co.’s Mary Barra. Female CEOs do tend to outperform according to data compiled by Bloomberg. Of the 16 female CEOs in the S&P 500 index who have held the job for at least three years, 75 percent have outperformed the index since they took over. That group includes PepsiCo Inc. CEO Indra Nooyi and Lockheed Martin Corp.’s CEO Marillyn Hewson. Still, companies that appoint female CEOs often are underperforming. Almost 38 percent of the S&P 500 companies where women outperformed,
had negative market returns in the year before she started or in her first year, according to data compiled by Bloomberg. A 2015 Utah State study found that of the 52 female CEOs of Fortune 500 companies appointed between 1955 and 2014, 42 percent took over during a crisis or market downturn. That compares to 22 percent for a matched sample of male CEOs. “It’s a challenging question: Are females hired only when companies are doing worse, so they have a greater opportunity for outperformance?,” said Karen Rubin, vice president of product for online trading algorithm development platform Quantopian Inc. Rubin has been working since 2013 on an algorithm that tests
investment in female CEOs. The strategy uses an equal-weighted portfolio that buys shares of a Fortune 1000 company when a female CEO is appointed and sells them when she leaves. The portfolio outperformed the S&P 500 index by 217 percent from 2002 to 2014. “Historically, had you invested in female CEOs, you would have outperformed the market,” Rubin said. The results weren’t just surprising to her, and observers have suggested that there could be other reasons behind the outperformance. So, she removed Yahoo from the test to see if the returns could be explained by the company’s investment in Alibaba Group Holding Ltd. The portfolio still outperformed the S&P 500 by 197 percent. In
another attempt, she removed consumer companies to respond to a critique that women were more likely to be CEOs in that sector, which has been performing well. She found the portfolio still outperformed the S&P 500 by 153 percent. Women CEOs are often aware of the potential pitfalls of the cliff, said Trina Gordon, CEO of executive recruitment firm Boyden World Corp. in Chicago, and they tend to do a huge amount of due diligence before accepting the role. “They turn over every stone,” Gordon said. “Female CEOs are very calculated risk-takers.” It’s also possible that diverse CEOs are more sought after by struggling companies, because they possess leadership skills that are particularly valuable for a turnaround. “In a time of crisis you want someone who has that more consensus-building, participatory-type of leadership,” Cook said.
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Wednesday, October 19, 2016
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WOMEN IN BUSINESS
Survey: Diversity not important to male board members Companies with the highest percentage of female directors have been shown to outperform on equity, return on sales and return on invested capital. They pay less to gobble up other firms. They have lower stock price volatility. And those with more women at the top have even been shown to have fewer governance controversies, such as bribery and fraud. There’s enough evidence — even if some is mixed — that some investment firms have launched products geared toward generating higher returns by investing in female-led companies. Yet according to a new report, men in the boardroom don’t yet seem to buy the idea. A survey released recently by PwC of more than 800 corporate directors found that just 24 percent of the male respondents believed board diversity improves corporate perfor-
mance, while an overwhelming 89 percent of female directors believe it does. Meanwhile, just 38 percent of the men said it improves board effectiveness, while 92 percent of women agreed that it does. That sharp divide reflects a surprisingly high percentage of male directors apparently reticent to embrace diversity’s benefits. “Those numbers are telling us that we still have work to do,” said Paula Loop, who leads PwC’s Governance Insights Center. “Female directors in the boardroom still need to convince their male counterparts that they are improving [performance]. I think the verdict is still out for men.” One way to interpret the findings, says Loop, is that male board members are saying “we hear you and we hear investors and shareholders telling us we’re looking for a diverse board and we’re acting on that. But we’re not entirely convinced about why we’re
doing that.” The survey also asked respondents to name the ideal gender breakdown among board members. Currently, women make up just under 20 percent of all seats, a number that has barely budged over the years. Some 43 percent suggested women should make up between 41 percent and half of the board, and the same percentage said women should make up only between 21 and 40 percent of the board. The latter figure, which is considerably below actual parity, may reflect the ongoing belief among some male directors that the number of qualified women is not sufficient to fill board seats, a belief still held by about a third of the survey’s male respondents. Even as investors clamor for more diversity and the issue gets far more scrutiny — legislation was proposed earlier this year to get more women on boards, and the Securities and
Exchange Commission is drafting rules to get boards to reveal more about diversity — an unsettling number of respondents seemed to still want little presence of women around the table at all. Some 10 percent of respondents, 97 percent of them male, said women should only make up between zero and 20 percent of board seats, according to the report. Until more men step down from boards, it will be harder for the number of women to grow substantially. As a result, many of the women who responded to PwC’s survey appeared to have a possible idea for a solution. The percentage of female directors (69 percent) who strongly believed mandatory retirement ages were important far outstripped the percentage of men who thought they were ( just 29 percent). In other words, the stereotype of the boardroom as an old boy’s club continues to have some real truth to it.
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By Jena McGregor
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Fairbanks Daily News-Miner
Wednesday, October 19, 2016
WOMEN IN BUSINESS
More action needed to close wage gaps By Jena McGregor THE WASHINGTON POST
By now the statistics are wellknown, if still unsettling: Women make up less than five percent of the CEOs at the biggest corporations. Just under 20 percent of directors at S&P 500 companies are female. Only 18 percent of computer science degrees are awarded to women, and under 30 percent of the science and engineering workforce is female. To try and improve those consistently low numbers, high-profile initiatives have been taking aim at them, from the Rockfeller Foundation’s initiative to get 100 female CEOs in the Fortune 500 to Melinda Gates’ newly announced decision to dedicate more resources to getting women into tech. Yet while attention has been showered on these important, widely covered problems -- the lack of women in leadership positions, and the rarity of women in STEM fields -- there’s another pipeline problem that doesn’t get nearly as much time in the spotlight. And while it’s persistent and pervasive, it stands to be fixed much more easily than the others. For every 130 men who are promoted from the entry level ranks to manager, a new report showed this week, just 100 women are promoted at similar levels. That revealing number, included in the comprehensive annual study on women in the workforce by McKinsey & Co. and LeanIn.org, the organization founded by Facebook executive Sheryl Sandberg, is a reminder of the yawning gap that men and women face even at the earliest stages of their careers. First reported in the Wall Street Journal, the study gathered data on promotions and careers of employees at 132 companies and surveyed some 34,000 men and women about
A new study from McKinsey & Co. and LeanIn.org, the organization founded by Facebook executive Sheryl Sandberg, seen above on Tuesday, is a reminder of the yawning gap young women face when it comes to early promotions. PHOTO BY MICHAEL NAGLE, BLOOMBERG their careers. It showed that men are 30 percent more likely than women to see a promotion at this initial jump up the ladder, noting the gap is “the largest” at this early first stage. “For us it was a real surprise -to see that this first promotion is so critical, and there’s such a disparity,” said Alexis Krivkovich, a partner in McKinsey’s San Francisco office, in an interview. “The public narrative has focused on left of the pipeline (do we have women with the degrees necessary?) and the right of the pipeline (do we have women in senior roles?), but it’s underemphasized what happens to women early in their careers.” What’s driving the gap? Given all the research that’s been done on the effect of motherhood on hiring and wages for young women, one might think a
change in family roles is behind it. But that doesn’t appear to fully explain it, Krivkovich said. What the new data shows is that both men and women cite family balance in equal numbers as their top worry when asked about why they do or don’t want the next promotion. That suggests that “this is not just about family concerns,” she said. The shift from entry-level into managerial jobs typically comes about five to six years in, Krivkovich said. That’s before the mid-career years when heightened work expectations and the increased family demands of children and aging parents often really take their toll. Conventional wisdom about women’s careers, she said, “suggests that’s the real pinch point, but the fact that there’s such a pronounced gap right at the outset suggests to us there’s
more going on here that companies need to address.” Meanwhile, the responses of men and women revealed two very different experiences: In the survey, women said they get consulted on fewer important decisions, didn’t get as many stretch assignments and didn’t feel they could participate equally in meetings. They also had different experiences with feedback: While men and women asked for feedback in similar numbers, and managers thought they gave it out to both, women said they actually received the kind of critical feedback that helps them advance much less often than men. Krivkovich said unconscious bias is a culprit: “I think bias is a huge piece of it. I think a lot of companies think they’ve put in the training, the policies, and
the leadership engagement. What the data suggests is those are important steps, but somewhere in there you haven’t yet solved for the bias underneath that’s getting in the way.” This is hardly the first time that researchers have seen a big gap in how often young women see early career promotions. For instance, Catalyst, the nonprofit research firm, reported back in 2010 that even when looking at graduates of elite MBA programs, women start out behind their male peers. Although they adjusted for things like work experience, industry and region, men were still more likely than women to hold managerial jobs in their first post-MBA gigs. It sounds like little has changed. Sure, more gender diversity in the senior ranks could help change corporate cultures so more young women get their first managerial jobs. And having more women with the right degrees will help improve the pool of entry-level women for promotions. But it works the other way, too: If women’s careers are slowed down early on, or if all those newly minted STEM grads don’t see their early work rewarded in equal favor, the numbers at the top aren’t going to improve anytime soon, either. Perhaps the best argument for why the gap in early promotions should get more attention is that it could be the easiest to fix. Krivkovich notes that it could take decades to get people into the right degrees, and years for companies to improve the number of women at the top if they haven’t built the right internal pipeline. Yet correcting the promotion gap is usually about better execution of the programs and policies they already have in place. “There’s a huge opportunity,” she said. “The first promotion? Companies can solve that today.”
Fairbanks Daily News-Miner
Wednesday, October 19, 2016
17
WOMEN IN BUSINESS
Tammy Phillips is owner of Phillips Studio & Gallery.
ERIC ENGMAN/NEWS-MINER
Phillips pulls off balancing act between family, career By Gary Black GBLACK@NEWSMINER.COM
Fairbanks gallery owner Tammy Phillips is balancing a tight line between family, career and art, and she couldn’t be happier with it. As owner of Phillips Studio & Gallery, 59 College Road in Regency Court Mall, Phillips has been a recognizable name in the Fairbanks art world for almost six years. She housed her gallery in the artists enclave on Well Street for five years before moving to her current location on College Road in April. She’s a regular participant in the First Friday art scene, whether exhibiting her own works or displaying the works of her fellow Fairbanks artists. “I like the feedback from the First Friday crowd that comes in each month,” Phillips said.
“I get so much feedback about my art and their art and other galleries. It’s like a big party for the arts. It’s hugely important that we keep art in our community.” Phillips moved from Montana to Fairbanks in 1983 and shortly afterward married her husband, John. The couple has four adult children and seven grandchildren, all of whom live in the Fairbanks area. Always the artist, Phillips put her painting and creating on somewhat of a hold while she raised a family yet still found time to engage her artistic streak by volunteering with the Parent Teacher Association as her kids’ schools or volunteering to decorate for school events. She would help organize shows at The Grange Gallery in North Pole, which kept her involved in the art world,
and about 17 years ago took a watercolor class, which started her passion for her favorite medium. “I like the way the pigment of the paint reacts on paper and what I can do with it,” Phillips said. “I can mix it and make bright colors. My approach to watercolor painting is a little different than others. I use so much pigment.” While her approach to watercolors is unconventional, her approach to business is not. After opening her own independent gallery, she’s learned the ups and downs of the art business world and all that comes with it. “When I was just an art buyer, I used to see those big price tags on paintings and think, boy, they’re getting rich,” she said. “That’s not the case at all. What I’ve learned and continue
to learn is how to market each artist in the best way possible with the budget available, how to display each artist’s work to the best of my ability following industry standards, booking new and interesting shows every month to entertain our gallery guests. It’s my responsibility to create an environment for everyone to enjoy the art and visit with the artist. I enjoy the new challenges each month brings.” She has learned to schedule her life a little more, Phillips said, such as planning more in-depth when she takes time off or travels. Being her own boss, she does get to set her own hours and strike a balance between work and family, which is something she cherishes. “My first landlord said, ‘Are you going to try to make it in the art world?’, and I said, ‘Yep,’
but for me, it’s more of a passion and following your dreams and doing what is important,” Phillips said. “The downside of owning a gallery is the conflict between the business woman thinking of having to pay the bills and the creative side that appreciates all forms of art and knowing how important art is to a community. Art records our history, brings joy and beauty, but to get it to pay the bills is definitely a balancing act.” For Phillips, striking that balance is important — running her business yet still exercising her passion. “I’ve found I have to meet somewhere in the middle to be able to create,” she said. “Being the artist balances the business side.” Contact Features Editor Gary Black at 459-7504 or on Twitter: @ FDNMfeatures.
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Wednesday, October 19, 2016
WOMEN IN BUSINESS
Bringing up baby — and hanging on to career BLOOMBERG
Allison Robinson looks young for a mom, let alone a CEO. But, days from turning 30, she’s both: the mother of a 14-month-old son and an even younger company, the Mom Project, which matches women who want flexible work with employers who want them. Robinson had been at Procter & Gamble since college, most recently working on the Pampers brand as a senior account executive for the North America baby care market and strategy team. While on maternity leave, she read about the many highly qualified mothers who leave their jobs. Returning to work after a leave can be difficult, and women’s earning power can take a hit.
“I felt like the decision of being a full-time career mom or a stay-at-home mom was too binary, and I wanted to create a solution in between, that allowed moms to stay professionally engaged through rewarding, challenging work to keep their skill sets current,” said Robinson, who lives in Chicago with her husband, Gregory, a business operator at a private equity firm, and their son, Asher. Robinson never went back to P&G. In early April, she launched her “digital talent marketplace.” The service, for which more than 6,500 people have signed up, is mainly for women but will help connect anyone with work ranging from project-based, its focus, to permanent. For employers, it can provide skilled female candi-
dates eager to work in flexible roles. The Mom Project, free to job hunters, collects information on their backgrounds and aims and on companies’ needs. In candidates, it looks for an undergraduate degree, at least, and five years of work, and verifies education and employment histories before someone gets an offer. Employers pay Robinson a service fee of 20 percent of what they pay their new hire. The business has signed up more than 150 employers, including Hyatt Hotels and Penn Mutual Life Insurance Co., and more than 50 have made a match or are close to making one. There are resources such as iRelaunch for women who want to return to work. Après has a job market, while the nonprof-
it Path Forward focuses on midcareer internships at companies for people following a caregiving stint. Robinson said she’s looking to keep millennial women in the workforce, by letting them scale back when they have a baby. The brand new network currently has some older members. It took Kate Thomson, 37, to the marketing department at Penn Mutual, in Horsham, Pennsylvania. She’s on-site Monday, Wednesday, and Friday from 9 a.m. to 3 p.m. for an initial six months and has Penn Mutual’s permission to maintain her clients in a consultancy she started in the summer of 2015. The setup allows her to get her five-year-old on the school bus for kindergarten and drop her two-year-old at preschool before work, then
reverse the process on the way back. “So it’s almost like they won’t even know I’m gone,” she said. “Which is sort of incredible.” Before she began consulting, Thomson had spent 15 years in marketing and advertising, telecommuting the last several years but with a lot of travel. She came across the Mom Project on Facebook. “I want to wear clothes and talk to grownups,” she said. “But I don’t want to sacrifice my children’s babyhoods for that, and I did that for a long time.” Still, untraditional work arrangements may not come with benefits, and years of project-based work could leave a woman ill-prepared to ratchet her salary back up for full-time work. And not every job pans out.
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THESE WOMEN MEAN BUSINESS
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By Zara Kessler
Fairbanks Daily News-Miner
Wednesday, October 19, 2016
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WOMEN IN BUSINESS
More women than ever are putting off retirement By Ben Steverman BLOOMBERG
More older Americans are working longer. Women, new research suggests, are much of the reason why. Working into your late 60s and even 70s is hardly as rare as it used to be. Today, Americans are more likely to work past 65 than at any point since before Medicare was created in the 1960s-but most are still men, whom we’re used to seeing work well into old age. Now, more women are working at ages when their mothers and grandmothers were long retired. Economists and other academics are trying to figure out why, and new research suggests the trend will continue, and could accelerate. A prime driver of working
in old age is education: Both women and men with college educations are far more likely to be working in their late 60s and 70s than are less educated Americans, and the number of college graduates is on the rise. Past work history also matters, and the surge of women into the workforce in the 1970s and 1980s means that these women, now older, have job skills, connections, and careers they can continue to pursue. As the oldest Baby Boomers reach their 70s, they’re not only working but increasingly are working full-time. Almost half of women working in their late 60s are in full-time, year-round jobs, up from about 30 percent 20 years ago, Harvard University economics professors Claudia Goldin and Lawrence Katz found in new research.
A major factor in whether women postpone retirement is whether they like their jobs, said Goldin and Katz, who analyzed survey data linked to Social Security earnings records. “As jobs become more enjoyable and less onerous and as various positions become part of one’s identity, women work longer,” they wrote. Children, on the other hand, aren’t much of a factor in whether women work to 65 and beyond, Goldin and Katz found. Having kids does make it tougher for women to stay in the work force full-time from ages 25 to 44-something Goldin and Katz blame partly on the fact that parental leave of longer than 12 weeks isn’t mandated-but it doesn’t affect their participation later in life. While these mothers may end up earn-
ing less than if they hadn’t had kids, they do seem to be restarting their interrupted careers once their children are older. Not all the trends are so cheery. By the age of 65, women have typically spent less time in the workforce than men, which means less time saving for retirement and qualifying for Social Security benefits. Meanwhile, women in their mid-60s can expect to live longer than men; a current 65-year-old American man’s average life expectancy is 83, while women can expect to live to almost 86 on average. In a perfectly rational world, women might keep working a little longer to maximize their retirement benefits, but that’s not happening-at least not among married straight wom-
en, according to new research by Harvard University health policy professor Nicole Maestas. Women are typically younger than their husbands, but they tend to retire at about the same time, often in their “peak earnings years,” Maestas wrote. Those early-retiring women not only miss out on the chance to bank assets and maximize Social Security benefits but also may be too young to qualify for Medicare. “Americans now work more hours per day, days per week, weeks per year, and years per lifetime than almost all rich countries on the planet,” said New School economics professor Teresa Ghilarducci in an email. Working even longer, she said, is a “lazy answer” to the American “retirement income security crisis.”
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Wednesday, October 19, 2016
WOMEN IN BUSINESS
Tech firms offer internships for 40-something moms By Jena McGregor THE WASHINGTON POST
Tech companies have tried everything to boost the low numbers of women in their ranks. Massive grants aimed at high-tech scholarships for girls and students of color. Longer parental leave perks for new moms and dads. Even benefits that pay for women who want to delay childbearing to freeze their eggs. Now a growing number of both large and small tech companies are borrowing an idea from Wall Street banks: The “returnship,” which brings in mid-career women (and men) who’ve taken time out of the workplace to care for family, offering them a path back to the office. Recently, a nonprofit called
Path Forward announced that six San Francisco-based tech companies, including domain registrar GoDaddy, customer service software maker Zendesk and grocery delivery outfit Instacart, will offer 18-week internships for about 20 mid-career professionals starting in October. While the program is open to men who have spent at least two years out of the workplace as a caregiver, it is expected to be filled largely by women. It is aimed at helping interns confront the stigma they face about time away. Also tech companies get a chance to improve their reputation as places that too many women leave. “If you’re wanting more women at the senior level, this is a way to jump-start that,” said Tami Forman, the executive director
of Path Forward. Forman said there’s been enough interest from other companies that she plans to start two to three more groups of these untraditional interns (who, yes, are paid) in several cities early next year, each with six to 10 tech companies. The nonprofit was spun out of the New York-based email software firm Return Path, which started its own mid-career internship program last year -- Forman is a former marketing vice president there -- and now helps bring that program, which includes training and networking opportunities for the group of interns to other tech companies. Path Forward’s announcement follows another recent effort by seven technology and engineering companies —
including IBM, Intel and General Motors -- to run internships designed for women who’ve taken time away. The programs at these companies began this year and are part of an effort launched by the Society for Women Engineers and iRelaunch, a “career reentry firm” that runs a conference on returning to work sponsored by finance companies that have similar programs, such as Morgan Stanley, JPMorgan and Goldman Sachs. The latter firm kicked off the trend back in 2008 and even trademarked the phrase “returnship.” Carol Fishman Cohen, iReLaunch’s CEO, said her conference acts as something of a recruiting hub for those existing programs, and “it occurred to us we should take the concept to another sector.”
She approached the Society of Women Engineers to establish a task force last year that would try and “replicate what we saw in financial services.” In tech, she says, “there’s a lack of women at every level of the organization and they’re looking for more ways to hire more of them and fill that pipeline.” Cohen said men are eligible to apply, but most applicants for the established programs have tended to be women in their 40s or even 50s who’ve left the workforce to be a caregiver. Some tech companies have long offered flexible leave policies or extended sabbaticals that help their own employees return after a break. But these newer mid-career internships, says Laura Sherbin, director TECH » 23
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TECH
Continued from 22 of research for the think tank Center for Talent Innovation (CTI), offer certain advantages. For one, it exposes employers to outside talent. And in an industry like tech, where the pace of change is faster and more disruptive than in others, the lowrisk bet on hiring an intern for 12 or 18 weeks can help erase the bias many managers have about people whose resumes have glaring holes on them. “There’s a huge stigma to time off in the tech industry,” Sherbin said. “There’s a perception that tech passes us by even on a maternity leave, and if you’ve had time out of the workforce you’re hugely behind. Tie that in with the bias you do see about tech workers who have a little bit of gray hair,” and it’s an industry particularly primed for managers who might look past candidates -- even skilled ones -- who
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WOMEN IN BUSINESS have been out of the workforce. Steven Aldrich, chief product officer of GoDaddy, said that’s one thing that attracted his company to the idea. “The company has a chance to try the employee, in a way, and see their fit with the company, and it’s a win for the working parent coming back into the workforce to come in and get experience,” he said. “Those things are really challenging [when someone] comes straight back in.” The tech industry is also trying to plug an especially leaky pipeline. According to 2008 data from the CTI, 52 percent of women with experience in the science, engineering or tech fields chose to leave their fields over time. Another 2013 study, meanwhile, compared women in multiple professions and found that after the first 12 years of their careers, 50 percent of women in science, engineering and tech were working in other occupations, while only about 20 percent of the other women
switched industries over their entire careers. Running internships for returning parents could also help send a message to younger workers. With these programs, Cohen says, “what companies are signaling to their youngest employees and the people in their 20s is that they understand that employees may take a career break — and we want to welcome you back.” If hiring rates are any test, such “returnships” appear successful. At Goldman Sachs, almost half of the 150 people who have gone through its program since 2008 were hired for full-time jobs; Cohen says that hire rates tend to be between 50 and 90 percent in established programs, and at the high end of that range for the tech firms so far. A spokeswoman for PayPal, which ran a program for nine interns in the U.S. called “Recharge,” with the help of Forman’s group earlier this year, said that seven of the
nine were offered jobs. And all six of the “Tech Re-Entry” interns working in analytics at IBM this spring, who had been out of the workforce for anywhere from two to 10 years, were recommended for full-time employment. “We’re increasingly looking for creative ways to bring women back to the workforce who we know are incredibly competitive,” said Lindsay-Rae McIntyre, IBM’s chief diversity officer. She said the company is looking to expand the program. Still, while success rates for participants tend to be high, the effect such programs will have on moving the needle — either for the number of mid-career women in tech or the number of parents wanting to get back to work after child rearing — could be limited. For one, the programs tend to be relatively small. Several of the pilot programs included internships for just a handful of people — GoDaddy is hiring three interns, and there
were nine in the first group at PayPal — and iRelaunch’s Cohen says existing programs tend to number 20 or 30 interns a year. Meanwhile, the programs are largely limited to fields where job demand is already strong, such as tech and finance, and do little to help those trying to get back to work in struggling industries or those with an abundant supply of workers looking for jobs. And in those industries where they could help bring in a few more women, warns CTI’s Sherbin, hiring them only goes so far. Even programs that hire every mid-career intern they bring in won’t make much progress on diversity if they don’t also work to improve “bro” cultures that are hostile or toxic to anyone who’s different. “You may get them in,” she says, “but they’re going to be very very short hires. Diversity for the sake of having butts in seats doesn’t do us all that much good.”
Heartstream Yoga and Wellness
Marsha Munsell
Donna Lanni
A community-based studio for yoga and related mindbody experiences, dedicated to the creation of wellness and well-being for everyone.
Beginner to Advanced Yoga Classes • Workshops
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3550 Airport Way • 410 2nd Avenue www.heartstreamyoga.com
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Wednesday, October 19, 2016
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