While women have made great strides in achieving leadership roles in the financial services industry, there is much work yet to be done. Recent research from the Filene Research Institute found women comprise 25 percent of middle managers, 19 percent of senior leaders and only 2 percent of CEOs in the global financial services field. As a female leader, I feel a calling to help other women achieve similar opportunities.
Recently, I had the honor of joining some of my fellow female leaders on a panel at the annual Card Forum & Expo. Our discussion highlighted career development for women and what can be done to encourage women to take on more career risk.
There have been many studies confirming men are more inclined to take risks than women based on economic and evolutionary reasons. One study found gender differences were amplified even further under stress, concluding risk taking increases when men are under stress and decreases when women are under stress. There are actually gender differences in brain activity associated with evaluating risk and taking action. Knowing this, how can organizations use this to their advantage? Under stress, men and women working together would make smarter risk-taking decisions than either gender alone.
Brain activity is not something we can change. What we can change is our actions. It is often the support and encouragement from others that can be the difference between women avoiding risk and tackling bigger and better career challenges.
I cannot overstate how important it is to be intentional about building your own support network. You might see someone who has it all together. She has a mentor. She has a great networking group. She has the CEO’s ear. And it may look like nothing more than good fortune or timing. However, for many of those women, it’s likely the result of a lot of support, hard work and strategy, not to mention risk taking.
My advice? Be bold. Don’t be afraid to ask for 10 minutes with the people you feel can help you become better. The worst that happens is they say no. At least they know you are a gutsy, tenacious person who saw something in them you admired. Don’t give up. If they give you a no, politely ask if they know of someone who might be able to share the information or insight you need.
WHAT IT MEANS:
As you advance in your career and your personal life takes different twists and turns, you will need guidance from different people who have traveled those roads before you. Always cultivate the network you have, and remember building your network is never done.