JULY
Building Your Board Ecosystem
The glass ceiling symbolises the societal and systemic barriers that restrict women’s career advancement, despite capabilities and qualifications. In our events featuring Katie Litchfield, Founder of WeQual, and experienced board director Mary Petryszyn, we explored these issues and uncovered valuable insights and strategies for overcoming these barriers. The full event recordings are accessible here.
Cracking the Glass Ceiling and the Gender Promotion Gap
Katie Litchfield hosted an exclusive Round Table entitled, ‘Cracking the Glass Ceiling and the Gender Promotion Gap.’ The key takeaways from the discussion are as follows:
DON’T BOX YOURSELF IN:
Avoid limiting your growth by remaining in comfortable yet stagnant positions. Explore beyond your comfort zone to expand your opportunities.
ASK YOURSELF, “WHAT WOULD THE MALE VERSION OF MYSELF DO?”
The perception that men are often quicker decision-makers, have greater confidence, and a reduced sense of loyalty to companies, makes this a useful exercise to broaden your perspective.
ADDRESS BIASSED BEHAVIOUR:
Call out instances of bias, such as being spoken over or being unfairly treated, to raise awareness, garner support, and set appropriate boundaries for respectful interactions.
MONTHLY
REPORT: Building a better business world wequal.com global@wequal.com Driving gender equality at the top of the world’s largest companies This is a private and confidential summary of the session.
EVENT
“What you allow is what will continue.”
– KATIE LITCHFIELD, FOUNDER, WEQUAL
BE A BOLD CHANGE AGENT:
Share positive experiences and accomplishments to empower and guide other aspiring women. This creates a network of support, encouragement and change.
ADVOCATE FOR YOURSELF:
Communicate your career aspirations with others to gain support and open doors to more opportunities aligned with your goals.
DON’T OVER-JUSTIFY:
A global CEO shared with Katie how women often over-explain or justify career history and breaks during interviews. There is no need to do this, “You got the call, they know your history, you don’t need to justify it.”
Board Roles – Why, When and How?
As the former Corporate Vice President at Northrop Grumman, Mary is an esteemed aerospace and defence executive. Mary serves as a Board Director and Compensation Committee Chair for Saab and a Board Director for Woodward. She also holds key roles on the Board of Governors of the United Service Organizations (USO), including Chair of the IT/Cyber Committee. Mary won the Operational Excellence award at the WeQual Awards, The Americas 2023.
Building a better business world
Driving gender equality at the top of the world’s largest companies
is a private and confidential summary of the session.
wequal.com global@wequal.com
This
“The most successful women I have seen have extensive networks.”
– VICTORIA PEREZ RIU, CHIEF PRIVACY OFFICER, TAKEDA
MARY PETRYSZYN BOARD DIRECTOR AND CHAIR
During the event, ‘Board Roles – Why, When and How?’ Mary shared her experiences and practical advice. Here are the key takeaways:
BUILD A BOARD PORTFOLIO:
Assess your skills and expertise to explore opportunities beyond your current industry. Diversifying board roles can broaden impact and provide new challenges. Consider a nonprofit board position to gain experience and credibility.
UNDERSTAND THE BOARD’S ROLE:
Transitioning from management requires a mindset shift as the board primarily guides strategy and advises. Embrace this shift and provide guidance without overstepping management.
OVERCOMING CHALLENGES:
In male-dominated industries, build trust by being knowledgeable, making informed decisions, and taking responsibility. Emphasise your unique perspective and experience to earn respect and establish credibility.
USE EXECUTIVE COACHING:
NETWORK ACTIVELY:
Dedicate time to maintain and expand your network. Mary consistently checks in with contacts and offers help, which she likens to gaining social capital. A connection from earlier in her career, now a CEO, offered Mary a board role opportunity when she left Northrop Grumman, highlighting the importance of connections and visibility.
Mary has benefitted from coaching throughout her career, especially as she became more senior. Seek executive coaching to shape your leadership style, and show up authentically in new environments.
Building a better business world
wequal.com global@wequal.com Driving gender equality at the top of the world’s largest companies This is a private and confidential summary of the session.
“In board roles, it’s crucial to let management manage the company while providing advice and guidance.”
– MARY PETRYSZYN
“The people that you meet, the customers that you have, the people you work with in global supply chains – they will all continue to progress as you will. You never know when someone who was a contracts manager will become a CEO of a company. Keeping in touch with them matters.”
– MARY PETRYSZYN
“I now sometimes get two to three calls a week regarding board roles.”
– MARY PETRYSZYN
UNDERSTAND TIME COMMITMENTS:
Board roles demand varying levels of commitment but usually span a term of three years and require an average of five hours per week, according to the Boston globe, or 260 hours per year.
UNDERSTAND COMPENSATION:
On average, private company board roles may offer $45,000 in compensation, while larger organisations may offer up to $500,000 (according to Investopedia), along with equity or stock components. You can find these details in the Proxy Statement of the board.
CHOOSING THE RIGHT BOARD OPPORTUNITY:
Board roles are not for everyone. Research the organisation’s missions and values to assess their alignment with your interests and expertise. Examine Proxy Statements and prioritise roles that offer intellectual stimulation and match your passions.
APPROACHING A BOARD ROLE:
Curate a list of potential opportunities and remove those not in line with your interests. This refined list serves as your starting point for initiating conversations with contacts. Reach out to current board members to form connections and search by companies on LinkedIn to identify mutual connections.
APPLYING FOR BOARD OPPORTUNITIES:
The recruitment process involves engaging with nominating/governance committees, meeting current members, and talking to the CEO. While lengthy, it’s essential to discover and communicate your value-add and assess mutual fit.
NAVIGATE CONFLICTS OF INTEREST:
Consult with your current employer’s General Counsel to help ensure compliance and mitigate any risks.
Building a better business world
wequal.com global@wequal.com Driving gender equality at the top of the world’s largest companies This is a private and confidential summary of the session.
“I wanted to make sure I was still doing what got me up in the morning; that I was able to use my intellect and my experience. I didn’t want it to feel like hard work because I had to do it, but rather because I enjoyed it.”
– MARY PETRYSZYN
“Search LinkedIn for companies you are interested in and look at who the CHRO or CEO is connected to. It will be hard not to find someone you know or have a connection to. Use that wisely for an introduction.”
– MARY PETRYSZYN
Get That Promotion/Board Role
During the Peer Coaching sessions facilitated by Katie, members shared their key takeaways for achieving promotions and securing board roles:
DEVELOP A STRATEGIC CAREER PLAN: Create a three to five year plan mapping your career path based on aspirations, location, and interests. Be proactive and strategic – use coaching to help you reach your goals and share your aspirations with your network.
to help you focus on one area at a time. As Katie says, “We can’t do
NAVIGATE GUILT AND SOCIETAL EXPECTATIONS:
Balancing home, relationships, and work is challenging and women may feel more guilt than men when prioritising careers. Acknowledge and address this guilt while exploring support measures
By embracing these insights, you can challenge the status quo, promote diverse leadership, navigate biases, and achieve promotions and board roles. Together, we can continue to crack the glass ceiling and shape a brighter future for women in business.
WE ARE HERE TO HELP
WeQual Global Events are designed to help leaders like you thrive. Explore Executive Coaching, Executive Branding, and board CV/ resume options by clicking here. To discuss how we can help you or your organisation, email global@wequal.com
This is a private and confidential summary of the session.
Driving gender equality at the top of the world’s largest companies
global@wequal.com
wequal.com
Building a better business world
“Make sure the people around you in leadership roles know that you would be interested –if I didn’t do this it might not have happened.”
– MARY PETRYSZYN
“Serving on boards requires a constant willingness to learn and adapt to new challenges. Embracing change and being open to diverse perspectives can elevate your impact as a board member.”
– MARY PETRYSZYN
“There is a synchronicity that can be unlocked when you begin sharing what you want with your network with a strategic and intentional effort.”
– JEAN HARVEY JOHNSON, SVP AND GENERAL MANAGER, FISERV.
it all!”
