Industry by Industry hOW TO MOVE FORWARD

Industry by Industry hOW TO MOVE FORWARD - Industry by...

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Industry by Industry: How to Move Forward What are the challenges facing women across a wide range of industries? And what can be done to help deal with these challenges? Task-force participants at The Wall Street Journal's Women in the Economy Conference split off into six industry groups to discuss and debate these issues, each coming back with their top four priorities moving forward. Here's a look at those priorities—and edited excerpts of their explanations on how they came up with them. Top Four Recommendations 1. Mentors and Sponsors: Develop more industrywide and company-specific programs for both mentorship and sponsorship. Tie sponsorship goals to pay or career advancement. Such programs should include succession planning and "co-mentoring," which allows advice to flow from junior to senior levels. Involve men and women. 2. Leadership Wisdom Portal: Create a nationwide portal for insights and advice on leadership for women, pooling the resources of multiple media companies. Include formal career advice and discussion of the "unwritten rules" of being a woman in the workplace. Take better advantage of social media such as Facebook and Twitter. 3. Women on Boards: Get more women on the boards of companies by having the SEC require all listed companies to set and disclose their own goals for adding women to their board, and then explain their progress in their SEC report. Goals should include training programs for women interested in board membership. 4. P&L Leadership: Companies should establish a program to train and encourage women to take leadership positions that involve profit-and-loss expertise specifically, and enable them to transition into these roles. Companies should establish specific targets and incentives to this end. ALESSANDRA GALLONI: I want to talk a second about the difference between mentors and sponsors. By mentors, we mean someone who informally gives you advice, perhaps about the written and unwritten rules about your position in your company. By sponsor, we mean someone who actually pushes you through the organization and helps you advance through the different career stages. D'ARCY F. RUDNAY: For more than 30 years, since I've been working, there's been so much emphasis placed on being a mentor, but not much on being a sponsor. And many of the people in our group articulated how important it was that sponsorship should be identified as an important part of one's career. And that perhaps there should be sponsorship goals included in compensation goals, compensation requirements or performance requirements. DEBRA L. LEE: The second proposal we called the Leadership Wisdom Portal. That is to create a national portal for insights and advice on leadership for women, pooling the resources of large media companies. The thought is that we were all enjoying this conference so much, and the little tidbits of
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This note was uploaded on 02/22/2012 for the course CSR 309 taught by Professor Staff during the Fall '08 term at Purdue.

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Industry by Industry hOW TO MOVE FORWARD - Industry by...

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