Women in Business by Lyonsdown

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Golden glow for the Dragons’ Den duo

Global ambitions of British entrepreneurs who have set their sights on the tanning market | Page 5

June 2014

WOMEN IN BUSINESS

What happened next? Exclusive interview with Dr Leah Totton, The Apprentice winner 2013 | Pages 8 and 9

Business Reporter · June 2014

Women in business

Opening shots René Carayol

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N EARLY 2010, YouGov and I were invited by Orange to prepare a report on the impact of (near) universal broadband on Britain’s entrepreneurs. We produced a report called Entreprenation, which uncovered some interesting information regarding women and start-ups. Back then, only three companies in the league table of the Fast Track and Tech Track 100 companies were run solely by women – suggesting that men were leading the way when it came to establishing successful companies. But, interestingly, the YouGov report I was involved with went on to discover that, when it actually came to setting up their own businesses, it was an even split between men and women, and the reason men appeared in the Fast Track listing more often was more about the rationale for starting a business in the first place. Women were much more likely to go into business for reasons other than money, so financial success was not necessarily top of their agenda. The desire for flexibility was prominent, with 61 per cent of the women interviewed in the survey listing a flexible lifestyle and pursuing a passion (31 per cent) as more important than making lots of cash

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Why just looking at the bottom line does not tell the full story (19 per cent). This compares with 51 per cent, 27 per cent and 34 per cent of men respectively. Yet financial results are typically the key performance measure used to determine the success of start-ups and companies. Fast Track, for example, ranks companies by their compound annual growth rate in sales over the latest three financial years. No other performance indicator is used. The opportunity to balance work and life encourages many women to start their own business. They may not have a myopic focus on sales and growth, and may well deploy their spare time on other interests. With 32 per cent of women identifying working from home as an important reason for starting their own firm (versus 24 per cent of men), women may see the benefits of keeping a company small and authentic, never losing sight of the reason they first established it. Moving forward to the recent Sunday Times Rich List 2014, we learn that Britain’s

wealthiest people are richer than they have ever been, with a combined fortune of £519billion – equivalent to a third of the nation’s annual gross domestic product. Men fare much better when the only measure is financial, with 114 women in the top 1,000, a drop from 118 last year. The Rich List might well be too blunt an instrument to capture the real rise in female entrepreneurs – it’s not just about hard cash or stupendous wealth created. It is essential to understand the differing motivations for female entrepreneurs that distinguish them from their male counterparts. Their lower employment numbers and growth aspirations have historically led to questions of how to “fix” them. But different should not mean inferior or underperforming. Our findings, then, are still appropriate today. We need a more inclusive measure of success, perhaps including the original objectives of the founder in establishing the company, rather than solely on the organisation’s financial success. Potentially, we could see the Top 100 companies in Britain being made up of more home-based industries, where the founders work part time and perhaps social justice is the ultimate goal. A social conscience and passion are just as powerful measures, and perhaps as meaningful and as motivational, as the Rich List. As ever, it is not about right or wrong, but much more about really valuing the difference.

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Women in business

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Women used to negotiation are ‘more aware’ of their value NEGOTIATING to get to the top is a hard business, and women who have achieved this know what to do when they come across resistance, and better understand their value in a company. Dr Patrizia Kokot, lecturer at Henley Business School, who is researching the careers of women partners in professional service firms, says: “My research focused on women who had successfully negotiated all the way to the top. In the UK, you can see women who made it to the top of senior executive ranks, and were very aware of their own market value and the options that they had.” If they could not find a role which helped them inside the organisation they were working, explains Dr Kokot, these women used recruitment agents or headhunters to gain other positions where their worth was valued. Kokot believes one thing that could help women in the workforce is by changing the way workplaces are organised. “Firms have a responsibility in ma k ing workplaces [environments in which] both men and women can fully partake in competing,” Kokot says, adding that many firms still have an idea that the more time you spend in the office, the more productive you are. “Being visible does not mean you are more productive, it just means you are hanging out more.” She also thinks it is important to have a mentor who can influence and make decisions within a company. She says: “What you do not want is to have a mentor who is also less powerful.” But she explains that sexism in the workplace can still be a problem. “We need to focus on how men and women deal with each other at work and raise awareness of what equal opportunities is about: giving a leg up to people who haven’t had the opportunity.”

Top award for young apprentice KIMBERLEY Bolton, an apprentice at IT training firm Firebrand, has become the first woman to win the Microsoft Apprentice of the Year Award. It was presented to her last week by Home Secretary Theresa May and Microsoft UK’s Michel Van der Bel. “Apprenticeships are important in helping young adults to develop skills in the workplace,” said May. “They are hands-on and so much more about understanding what the working environment is all about.” Since launching in 2012, Firebrand has helped more than 100 young people pursue an IT career. “Becoming an apprentice was the best thing I’ve ever done,” said Bolton on winning. “I’ve gone from having no IT knowledge to winning Microsoft’s apprentice of the year.”

Female board presence growing, say researchers By Joanne Frearson WOMEN’S positions on boards are increasing, although more still needs to be done to meet the government’s target of 25 per cent representation by 2015. Research has shown gender differences start early on in the workforce, and issues such as pay differences remain a problem. The latest 2014 Davies review on FTSE 100 boards illustrates female representation increased to 20.7 per cent in March 2014, up from 12.5 per cent in 2011, with only two allmale boards remaining. In the FTSE 250, women’s representation is 15.6 per cent, up from 7.8 per cent in 2011 – with 83 of the FTSE 250 allmale boards in 2011 now having recruited one or more women. Although the European Parliament voted in favour of

quotas last November, the UK remains committed to selfregulation. Dr Elisabeth Kelan (below), reader in work and organisation at the Department of Management, King’s College London, says: “Quotas for women being on boards are very controversial. But once you introduce a quota what tends to happen is you get more women on boards. “There are always questions about [appointments] not being on their own merit and not having enough qualified women. These are all the arguments we hear, but it seems to be a way to increase the number of women on boards fast.” Dr Kelan undertook a study in Norway which looked at the impact quotas had on business. “Not surprisingly we found that the nu mb er of women had increased,” she says. “But what was

more exciting were indications that the number of women in executive positions had increased.” According to Dr Kelan, gender differences start earlier in the workforce. “These differences manifest themselves not only in pay, but much more in the working process, which projects you work on, who your mentors are on the way up. Where the differences emerge is through play i ng t he p ol it ic s i n organisations – knowing the right type of people, networking. These are subtle and women are often reluctant to see them as individual problems.” Data from the ONS Annual Survey of Hours and Earnings (ASHE) in the UK has shown the gender pay gap was 19.7 per cent in 2013. Dr Kelan says: “Many studies have shown women are not as good as negotiating their own salaries. Researchers have been able to trace that to the fact that the negotiating partner is biased regardless of whether they are men or women. If they know

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you are a woman and you want a higher salary and ask for it, the negotiation partner will effectively penalise you for displaying something that is seen as not very feminine. “The presumption is still that women don’t need pay because they have a husband at home who earns more, even though that is far removed from reality.” But there are strategies

women can use to help contest those biases, Kelan says. “Women in negotiation positions can refer to the fact they are the main earner,” she says. And once people start becoming aware of these biases, Kelan believes the position can change in women’s favour. “This is a big trend across many organisations, and they have had success with it.”

Business Reporter · June 2014

Women in business

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Building a diverse, inclusive workplace where female talent can thrive Thomson Reuters leads the way when it comes to gender dynamics INDUSTRY VIEW

rom a young age, Patsy SciuttoDoerr recognised what it takes to be a female leader. At her all-girl high school she learnt the importance of confidence and leadership skills. Moving on to a historically male university as part of the first cohort of female students, and then pursuing a career in investment banking focused on talent and engagement, she used these skills to transform male-dominated cultures and to create inclusive environments. Today, as global head of diversity and inclusion and corporate responsibility for Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, SciuttoDoerr employs her skills and experience to advocate for women and to build a workplace where female talent can thrive. In 2012, Thomson Reuters established a co-ordinated approach to diversity and inclusion, creating a global strategy and a dedicated team with Sciutto-Doerr at the helm. Fostering gender inclusiveness − supporting and developing female talent, and promoting women as equal partners in the success, achievement and profitability of the business − is one of the key pillars of the strategy. One of the first actions that SciuttoDoerr took was to work with chief people officer Peter Warwick and Vera Vitels, SVP for talent and development, to establish a Women’s Advisory Task Force, initiated by Jim Smith, Thomson Reuters CEO. The task force is made up of a group of male and female senior business leaders from

the organisation, with a mission to ensure female leadership development and advancement to senior positions in the company. This is something SciuttoDoerr says is vital. “When you have the C-suite focused on these issues it brings increased visibility and shows that the organisation is taking diversity and inclusion seriously,” she says. The task force has introduced a number of targeted career sponsorship opportunities which identify and develop high-potential female leaders by enhancing leadership skills and sharing strategies for business success. Task force members and other senior business leaders mentor, coach and network with participants, which, Sciutto-Doerr is keen to stress, adds “a personal basis” to their work. The task force has also recommended the introduction of global flexible working policies, impacting Thomson Reuters employees in all of the more than 100 countries in which the company operates. Sciutto-Doerr outlines the rationale. “We recognise that all of our employees can potentially experience events – such as relocation, having children, or needing to care for family members – which impact their working life. We’re committed to supporting our employees before, during and after they make these decisions.” As a result, maternity leave has been increased by 50 per cent, paternity leave has increased by 100 per cent, and flexible working arrangements, such as working from home, or splitting time between offices, has been made easier. Sciutto-Doerr points out that it’s also about changing culture and attitudes,

from senior leaders downwards, which have traditionally held women back. For instance, it is not enough to simply increase paid leave, you also have to transform the ethos around maternity leave. “We are in the process of training our managers to support their employees throughout the entire process. We want to ensure a smooth handover when they leave, help them stay connected with the company while they are out, and help them reintegrate back into the workplace when they are ready to return.” For Thomson Reuters and for SciuttoDoerr, diversity and inclusion, specifically developing female talent, is not just a feel-good people exercise, it is a business imperative with tangible benefits for Thomson Reuters employees, customers and shareholders. Creating a workplace where women and other traditionally under-represented groups can develop as leaders increases organisational effectiveness. As Sciutto-Doerr points out: “Studies have shown that the more diverse talent you have, the more you drive innovation, and then the more you drive revenue and profitability.” Central to this is her view that “you have to cast the broadest net to reach the best talent”, and that Thomson Reuters’ focus on developing female employees is a compelling proposition for prospective employees, whether female or male. “Ultimately, we want to be seen as the employer of choice for women and for diverse talent,” says Sciutto-Doerr. She also argues that for current employees too, the diversity and inclusion strategy has had an enormous impact on employee engagement, and Thomson Reuters has ultimately benefited from having a more engaged, better-trained workforce. There are also clear advantages from a business development perspective. “We see our diversity and inclusion

agenda as a real lever for driving business,” says Sciutto-Doerr. She says customers are receptive to engaging on this issue. “They have the same priorities we do, and are facing the same challenges. Every organisation is starting to see this as a priority.” Sharing best practices allows the company to gain added touch points within the customer’s organisation, ultimately building broader and deeper relationships and leading to more business. There have been encouraging results over the past two years – more than 130 employees have passed through Thomson Reuters’s Leadership Program for Women, and the majority have been promoted or given expanded responsibilities. In its goal to support female talent within its company and in the wider corporate world, Thomson Reuters has become a thought-leader in the space, conducting and sponsoring research into gender dynamics. Recently, the company partnered with Women of Influence to produce a white paper outlining solutions to women’s advancement in the workplace. However, Sciutto-Doerr recognises that there is still much progress to be made. As she says: “Diversity and inclusion is a journey. It takes time to change cultures and see results.” The focus now is to embed the progress Thomson Reuters has made so far into the day-to-day operations of the company, and to ensure that employees, from the senior leadership down, automatically approach their roles with what Sciutto-Doerr calls a “diversity and inclusion lens”. “Ultimately, we want our diversity and inclusion efforts woven into everything we do as an organisation,” she says. + 1 646 223 6934 www.thomsonreuters.com

WIZARDS OF OZ

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Moving to Australia resulted in a new enterprise for two UK women which exploited a gap in the tanning market. Joanne Frearson reports

ITTING in their dressing room at QVC, Louise Ferguson and Kate Cotton, the founders of Skinny Tan are excited about their debut on the home shopping channel. When they both applied to be on Dragons’ Den they never dreamed it would see them launch their product on QVC. I’ve been watching Skinny Tan make its QVC debut – Ferguson has just come from being in front of the cameras and is feeling enthusiastic about the launch. Originally from the UK, both Ferguson and Cotton moved to Australia more than 10 years ago and developed the product while on unpaid maternity leave there. They both wanted to start their own business to free them up financially and allow them to spend time with their children. Ferguson and Cotton saw a gap in the market for a tanning product that could also help with cellulite and, after seeking the help of experts in the market, developed a product which they thought did the job. “If we hadn’t been women and mothers we probably would not have gone into our own business,” Ferguson tells me. “We look at our children and thank them for being the driving force. It was all done because of that – because we are women. We had time when we were on maternity leave, which is unpaid in Australia. But women are good at surviving and it is part of surviving.” The company has grown rapidly since their appearance on Dragons’ Den, where they won financial backing from Kelly Hoppen and Piers Linney – within five weeks of the show airing they had already clocked up online sales of £250,000. Since then things have rocketed. Made In Chelsea’s Lucy Watson is now the face of the brand, and Skinny Tan is also launching on Boots.com. The products are now available in six different countries – the UK, Australia, Ireland, Canada, Spain and South Africa. And with Dragons’ Den’s worldwide reach of 78 million people, every time it hits a different country they get a call. “I think it is nice to be women in business and give a bit of courage to some other mums out

Dragons’ Den winners Louise Ferguson, left, and Kate Cotton

there, sitting at home and trying to get back in the workplace with children,” says Cotton. “That is really why we started it, because we wanted to be at home with our children.” The issue of childcare, women and work should be looked at, says Ferguson. “Childcare is quite a tricky one in both the UK and Australia. It is amazing how little you can earn in those first years if you do want to go into business, and if you want to put your children in childcare you can end up with hardly any money in your pocket. It is forcing women to think, I might as well stay at home. I am not going to go out for £20 a week after paying childcare. [Society should] give women choices and support them, especially

if they are adding to the economy by creating jobs and wealth.” It was not easy for Ferguson and Cotton when they were developing Skinny Tan. They faced many challenges and have plenty of advice for women who want to start their own business. “For one, we did not have any money, but cash flow is always a problem in the early stages. Women who want to start up their own business should not be scared,” she advises. “Just take it day by day. If you start fearing things it just holds you back.” Adds Ferguson: “Any time you do have, use it to do something – if it means register your business name that day, register your business name. Before you know it every single small step you do will come together and the big picture will happen. A lot of things can happen along the way, but the people that you meet in the industry you are working in will help you. Ask for help, trust the experts, let things happen on your journey, take the opportunities and see how it all builds together. “People fall down in business a lot, men or women, but it is the people that get up, shake themselves off and continue to learn and evolve [who make it]. We have made heaps of mistakes along the way. We have been very lucky. We had a great product and knew it was very saleable. We knew it was something people wanted. “We went out and spoke to people and asked them, what do we do, how do we get this manufactured, how do we get this tested, how do we get this into retail? You will be surprised how experts love helping you if they are helping you in their field. Ask for it.” On the day we meet, Ferguson and Cotton are getting ready for their second appearance on QVC, this time with their mentor Kelly Hoppen, who wears the tan every day. Skinny Tan has been successful since its launch, and from the speed in which their product is selling, world domination could be next. www.skinnytan.co.uk

Women in business

Jenk’s eye view MANY studies reveal that companies with female board members and management outperform their all-male equivalents. McKinsey & Co went as far as to estimate that return on equity and operating profit were on average 50 per cent higher for such companies. There are many anecdotal stories attesting to the innate differences between gender behaviours between Mars and Venus, with their effects on entrepreneurship, risk-taking, decision-making styles and decisiveness. Yet there are plenty of examples that show women are as capable, if not more so than their male equivalents, of creating, developing and restructuring an enterprise – regardless of form, ownership or size. The bottom line remains that equality is good for all. Yet the search for equality remains a drawn out process. For example equal pay, regardless of sex, is still not established practice in the workplace. Pay differences also mask discrimination for hiring and advancement. Recent legislative and social practices with regard to parental leave and child rearing should remove any obstacles. The main challenge remains one of attitude. So why the resistance? It makes little business sense. Partly it can be explained by legacy attitudes of incumbents combined with long-held biases and fears common with any matter requiring change. It should be remembered that woman in Britain only received the vote (and then only those over 30 who met minimum property qualifications) in 1918. It was as late as 1971 in Switzerland. In the Nordic markets, especially Sweden, successive governments in recent years have been encouraging reverse discrimination and Unleashing the use of quotas. A series of official and the potential unofficial measures of women has seen the increase of woman filling CEO in the and equivalent roles workplace from 10 per cent to 40 per cent over the last benefits 13 years. The battle all of us has now moved into the boardroom, where woman represent less than 25 per cent of board membership and even fewer as the chairperson. Unleashing the full potential of women in the workplace is something that benefits all of us. Gender equality in the workplace should be championed and nurtured. It is just good business – for women as well as men. Justin Jenk is a business professional with a successful career as a manager, adviser, investor and board member. He can be found at www.justinjenk.se

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Lack of women in boardrooms becoming a bottom-line issue Employees must be more aware of equality initiatives, say experts

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IT IS important for companies to communicate programmes and initiatives they have in place to support women as well as train both male and females managers about unconscious bias – studies having shown we prefer people who look like us, sound like us and share our interests. Heather Jackson, CEO of Inspirational Journey, says: “We have to make sure people do not think unconscious bias training is just about understanding women and men. There is a lot of unconscious bias training needed for women on women as well. Whether we want to accept it or not we have all got unconscious bias within us.” Firms also need to ensure employees are aware of programmes supporting women. Jackson says: “I have seen too many companies with initiatives that are not communicating them properly. Internal communication teams need to work closer with the HR teams running these programmes. There are not many companies that do not want more women at the top, but if they are not giving them the right direction these initiatives are lost.”

By Joanne Frearson Getting women on boards is a business bottom-line issue, and it is known their cont r ibut ion ca n help increase a company’s revenue. Kate Hall (below), a board member in the Global Infrastructure Practice at structural engineering firm Arup, says: “I think it is important to work with boards on understanding the business case that actually getting women on the boards is not just a nice diverse thing to do, but a business bottom-line. It is actually going to maximise and increase your revenue. It is a proven fact. “Once people understand that and see the evidence it is a nobrainer. They want diversity at a leadership level as t hey understand the impact it has on their business. “It is such a competitive market out there. We are coming out of recession and if there is an edge board

members can use for their business they should use it. I think once board members understand that, they will be a lot more open to it and the doors will start opening.” Hall has been involved in many highprofile projects as an engineer at Arup. She led a team of more than 300 engineers to design the infrastructure for the London 2012 Olympics, including the Aquatics Centre, Eton Manor and the Handball Arena, as well as the Athletes Village. Hall believes there is no single answer to help women on boards. “You have to look at the problem from both ways,” she says. “What attracts people to want to be on boards and what stops them from being selected to be on boards. We did a lot of work with unconscious bias training with the board members. It is getting to see if they have got any unconscious bias and understanding how they can work with that so t hey are open to candidates.”

Making the numbers add up for female accountants It’s a good time to try something new INDUSTRY VIEW

he world needs more women to become ACCA accountants. Although more women are joining the accountancy profession, there is more work to do if we are to turn a corner, but now could be the perfect time. While official statistics from the Financial Reporting Council show ACCA has a diverse membership of 45 per cent women and parity between female and male students, the same cannot be said across the whole sector. Other accountancy bodies are struggling to ensure female accountants are on an even footing with their male counterparts. Tapping into the widest possible talent pool is critical if the finance profession is to grow into a fully representative sector. Although ACCA is open to anyone – you don’t need a degree

to study for it – many of our students are young people. However we also see a steady stream of “switchers”, “returners” and those who want to start a career later in life, and that trend could be about to escalate. As the recent Mumsnet Workfest conference confirmed, there is a demand among women to try something new. Research from Talking Talent revealed that flexible working was seen by women in the professions as the single biggest factor for progressing their career, with 38 per cent agreeing with this sentiment. From June 30 this year, flexible working – part-time, flexible, job sharing or freelancing – is set to become more widespread, with most employees, not just those with children, being allowed to request it. This change has the potential to open up the accountancy profession even more for women, particularly if it’s supported at a senior level. The Talking Talent survey also showed that 94 per cent of female accountants said their company is supportive of women. But prejudice still remains.

The upper echelons of the profession are still male dominated. It’s up to employers to stamp this out and ensure that progression beyond middle management is not just possible, but encouraged. All this makes it easier for women, and indeed many men, who are, for whatever reason, unable to attend full-time study, or work a nine-to-five job to become finance professionals. Why can’t a mother of two from, say, a teaching background retrain as an accountant without the traditional obstacles of needing a degree or giving up every waking hour to qualify? Add to that the flexibility of ACCA’s qualification and you can see the potential for the accountancy sector to lead on gender diversity. ACCA was established in 1904 specifically to open up access to

accountancy. We’ve spread that ethos to some 173 countries. Echoing that principle, in 2014 ACCA became the first professional accountancy body to sponsor a Massive Online Open Course with FutureLearn and the University of Exeter, called Discovering Business in Society and due to launch soon. Ultimately, it is ACCA’s belief that these types of progressive developments in learning and employment could act as drivers for improving gender diversity, as well as social mobility, in the UK and around the world. And I am pleased to say that ACCA, and the accountancy profession itself, is leading the way. Sarah Hathaway (left) is Head of ACCA UK www.accaglobal.com

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Giving you time to work on what’s important INDUSTRY VIEW

Is pushing the ‘cool factor’ the way to get women into science? By Joanne Frearson WHILE studying business and organisational behaviour at university, Ursula Morgenstern, CEO at Atos UK and Ireland, embarked on a subject about how I T was inf luencing companies. She enjoyed it so much she decided to pursue a career in the field, and is now in charge of a company which has 10,000 employees and a market capitalisation of £1.4billion. Women have certainly been under-represented in the academic disciplines of science, technology, engineering and mathematics (STEM), and Morgenstern explains to me that the way to address this is to “make IT cool”. “We have enough examples with digital a nd tec h nolog y com i ng together. You can make it cool,” she says. Atos was the worldwide IT partner of the 2012 Olympic & Paralympic Games and is also delivering the management systems for the Glasgow Commonwealth Games. “I am a strong believer in apprenticeship, and we are

trying to get more female apprentices,” she says. “We are trying to make it cool by talking about London 2012 – what we did for the Olympics, and what we are doing for t he Commonwealth Games. “It just gives it excitement, instead of saying you spend your whole day coding. It is really bringing to life the idea that technology is part of something which people say is exciting.” To help women progress in their career, Morgenstern believes it is important to help in the promotion process. “Research has shown that women do not put themselves forward early enough for senior roles,” she says. “I think pushing them into that direction is critical. In my top 100 I have 15 really good women. Any job in my management team you will have seven or eight people applying for – one of whom might be a woman. “To succeed at the top you need a bit of luck anyway. You have to have the right skills that become available at that point in time, so pushing women to take roles that they are not 100 per cent comfortable with is one of the things that I have started

to do. My management team, the vast majority of them male, are doing the same. “Diversity makes absolute business sense, enables the company to be more competitive, whether through gender diversity or any other diversity. Diversity makes business sense.” Morgenstern says that when she was appointed two and a half years ago, she received scores of messages congratulating her for achieving what was perceived at the time as impossible. To many women, she says, the appointment was groundbreaking. But what irks her is when society discusses women working in business and technology like victims. “It is not a question of, how do I help this poor disadvantaged woman? It’s, how do we make it work as a company and have a productive conversation, not one of victimhood, which far too often it is,” she says. “When I talk to my senior women, I say it is give and take, and you have to give. Of course I will help you, but at the end of the day I cannot push you up the ladder, you have

to have that instinct of really competing for power. You either want it or not. It is a very tough competition because the CEO needs to choose who is best for the business.” Morgenstern believes a good leader is someone who is authentic. “As a CEO you are constantly visible, you can’t hide in your office,” she says. “Being authentic and clear to the organisation about what you stand for is, I think, extremely important.” Technology can be cool and fun, Morgenstern believes, and developments in technology can contribute a lot to society, and, not least, that women’s involvement in it simply makes business sense.

s the majority of the working world is computer literate and juggles a multitude of digital and technological gadgets, many PAs may wonder what the true value is in being “just a PA”. At Butterfly PA Services we are all PAs, and we know the value of managing tasks and getting projects accomplished. Gone are the days of stereotypical PA or secretarial job descriptions. As Jim Carrey recently said during a college graduation speech, “The effect you have on others is the most valuable currency there is”. Being a PA means you have superhuman time management skills, combined with the confidence to know that making the odd cup of tea for both you and a client is not a job requirement but a general human interaction. These incredible behavioral aspects coupled with the skillset that a PA acquires over years of experience in handling a swarm of situations should make any PA proud. Butterfly PA Services are handled with the care, grace and ease of a butterfly. We don’t lock you into contracts or have hours set in stone. Whether it is a private client’s home and office move, or a corporate client’s upcoming major work project, Butterfly PA Services counts flexibility and willingness to break from the stereotypical PA job description role as one of its strengths. The role of a PA has evolved substantially in recent years, driven by technological developments. We are all busy, but the increased stresses of the digital world often allow less time than ever to get additional work projects or home projects organised and delivered. Butterfly PA Services prides itself on flexibility and adapting to your environment. We can help you navigate unfamiliar territory, help you grow your business, and give you time – the most valuable item – to work on what’s most important to you. +44 (0)7500 726444 www.butterﬂypa.co.uk

Ursula Morgenstern

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The big interview Dr Leah Totton

Leah inspire wom in t

INDUSTRY VIEW

omen on Boards UK is an action-oriented social enterprise supporting women to leverage their professional skills and experience into nonexecutive director and other board-level roles. WOB exists to help women make the right connections and career choices to get to board level within their own company, or to take on a non-executive board role. We work with organisations including PwC, Thomson Reuters, Google and JP Morgan to inspire and encourage female employees to stay in business and get to the top. We also work with individuals to increase female role models by providing the information, connections and encouragement to ensure more women are appointed to all boards: • We run workshops, boardroom conversations and masterclasses to inform and inspire • We provide access to board vacancies. Any organisation can list on our site for free • We offer personal support and connections; helping women understand their transferable skills and make career choices • We have a fast-growing membership base of more than 7,000 WOB is committed to increasing the transparency of the board recruitment process through vacancy listings, and working with headhunters and the government to encourage recruiters to advertise more board positions. We also advocate for organisations to understand their gender participation data and set measurable targets where diversity is lacking. www.womenonboards.co.uk

By Joanne Frearson

HE GLITTER of gold shimmering in the mirrored wall hits me when I first walk into the clinic. Surrounded by comfortable seating and lightly coloured walls that would put any nervous patient at ease in the waiting room, I take a seat and wait for the doctor to emerge. I’m not here for an appointment, but to talk to Dr Leah Totton about her new skin clinic, which she co-founded with Alan Sugar after winning last year’s The Apprentice, and her experience of becoming a businesswoman. Dr Totton comes across as a strong woman – passionate about her new venture, caring towards her patients, a professional who wants to provide them with the best possible care. Life has been a whirlwind since winning The Apprentice, she tells me – only now is she digesting the fact that she won. Up until August last year, she was still working full-time in A&E, but that didn’t stop her from doing most of the work for the launch herself behind the scenes. “I picked the paint, the branding, the marketing, the advertising… the website was written virtually word for word by me,” she says. “I did absolutely everything. I probably could have delegated some of that in all fairness, but when it is yours, you have a vision... I do not know how anyone could set up a business unless they genuinely felt passionately about the sector and their customers. You’ve got to have a genuine love for it, and the passion to really set a bar. “I hope by launching my own flagship cosmetic skin clinic and brand, that in some way I can motivate or inspire other young women who do have a sector in business they feel passionate about, that they feel they can make a

Portrait: Andrew Crowley

change in. I hope that they would feel confident to believe in themselves and step forward.” One thing she feels is important for women to do when they get into business is to get a mentor. “I have been very lucky to have great mentors in Alan Sugar and Karren Brady. To have people like that have faith in you is really humbling, and it makes you believe in yourself as well,” she says. “I speak to Lord Sugar daily even now and he has been an exceptional mentor. If there is any sort of issue I will go to him – he is not someone to sit on the fence, he will always give you an opinion, which is great and what you want in a mentor. With the guidance of Lord Sugar and Karren, the world is your oyster.” But Dr Totton downplays the gender issues when it comes to setting up an independent business, arguing that being qualified and passionate is more important.

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h: I hope I can e other young men to believe themselves…

Main image: Dr Totten in her new clinic, which opened in January; left: on a hectic assignment in The Apprentice, which she ultimately won; above: with mentor Karren Brady at the opening

“It is about striking that balance,” she says. “I think women can compete head to head with men and shine through as I did in The Apprentice. I don’t think it has anything to do with gender, really – as I look to recruit, it would not even come into it for me. It would be the person who is best qualified and most able to fulfil that role. “I think you have to be careful you do not positively discriminate. Most women are able to compete with men on a level playing field. That said, I think there are barriers that women have in senior roles – women are still seen as holding, and still do hold, the roles of primary care-giver when it comes to children. More flexible working hours would definitely help. There are various strategies that could be implemented to give women a more sustainable work-life balance, and that may make them more eager to obtain those senior roles within corporations.”

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“With the guidance of Lord Sugar and Karren, the world is your oyster”

With dermatology a subject Dr Totton feels passionate about, the decision to open a cosmetic skin clinic was an obvious one. Since she opened in January, business has been thriving and she is planning to launch future clinics and new treatments. And the operation is already expanding. “Our next business strategy is to launch our laser division of the clinic,” says Totton. “That is laser hair removal, laser treatment for pigmentation, rosacea and acne. We are really excited to bring that as a new dimension to the clinic. It carries on our ethos of [using] non-evasive treatments. We went for premium technology – the latest in technology available in the world. We are really excited to be one of the only UK clinics to offer that.” With the pace of change, industry safety is another subject Dr Totton is passionate about. “I am a spokesperson for change and regulation in the industry – I do quite a lot of work with patient education and increasing the awareness of the dangers of going to back-street clinics, which I essentially believe is a medical intervention. That is what I am really passionate about. “I have seen various people come in with botched procedures by people just not qualified to do them. For me, the most rewarding thing is seeing the difference that we have made, and I hope we can continue to do that to increase patient awareness and education and safety. “I think from a patient point of view to get optimal results and to ensure your safety, I would always advise that they do their research into the clinic and the practitioner, and have a full consultation prior to engaging in any of these treatments.” Thanks to an unbridled passion for what she does, Dr Totton’s fledgling venture looks like having great potential as a business – and she hopes it will inspire other women to follow their dream. She has seen a steady flow of patients since she opened the clinic – and the serene waiting area with its shimmering gold wall will likely see many more in the months and years to come. www.drleah.co.uk

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INDUSTRY VIEW In the years to come, the indications are that qualifications in science, technology, engineering and mathematics (STEM) will be in record demand. Therefore, enthusing and inspiring our young people from an early age in these key subjects is essential, whether they go on to work in a STEM-related career or to be a responsible citizen in an increasingly complex world. As a recent Royal Academy of Engineering report shows, young children are natural inventors and engineers. Yet too often, girls in particular – but also boys – can find encouragement lacking, driven by parents’, and sometimes teachers’, outdated ideas of what manufacturing or engineering is or their own lack of confidence with mathematics and science. This is where the National Science Learning Centre, the National STEM Centre and our network of Science Learning Partnerships can help. We offer a range of support to those teaching STEM subjects to young people from early years right up to post-16, including professional development courses and activities focusing on subject knowledge and practical science, as well as more than 8,500 resources to download free from our eLibrary. We can even offer financial assistance to teachers and technicians from state-funded primary, secondary and post-16 schools and colleges through the support of Project ENTHUSE and Impact Awards, and we work with partners across the UK. Teachers and employers can inspire and engage young people in STEM through STEMNET’s STEM Ambassadors Programme. They volunteer their time to support teachers and promote STEM subjects in a vast range of original, creative, practical and engaging ways. As role models they challenge stereotypes, and raise awareness of STEM careers by revealing how essential STEM is throughout the world. As Isaac Asimov said – and is written on the wall of our state-of-the-art Centre in York – “The most exciting phrase to hear in science, the one that heralds new discoveries, is not ‘Eureka’ but ‘That’s funny...’” That’s what encapsulates the excitement and potential of supporting our schools and young people in STEM. And it’s that which will help us discover the science icons of the future – female and male alike. Yvonne Baker is chief executive, Myscience www.slcs.ac.uk/go/nat/enthuse www.nationalstemcentre.org.uk www.stemnet.org.uk/ambassadors

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Time for a safe pair of hands Watchmakers glad to be British INDUSTRY VIEW

uxury watchmaking is usually viewed as a masculine business, so there were a few raised eyebrows when Robina Hill (right) took over as managing director of Robert Loomes & Co in 2010. It was her husband’s family business, so there was sentiment involved – there had been a Thomas Loomes making watches back in the 1640s – but Robina was brought in to make tough decisions. When she got involved, Robina, who has a background in performing arts, short projects and rapid growth, found some old-fashioned notions hard to dispel. Robina takes up the story. “For a firm of watchmakers, they had little perspective on time and motion. They were an extraordinary team, capable of making beautiful mechanical watches. They had one spurt of growth and it turned into the business running away with them. It’s

probably a familiar story to many businesses – a fixed belief that ‘this is what we do and this is the price’ – so the guys were terrified of me when I walked in. “I explained that if the 20th century was about globalisation, then the 21st century is about localisation.

Customers would pay more if every component was manufactured in Britain. I insisted on sourcing UK components that had been subcontracted overseas. Wherever possible, our plan was to manufacture parts on the premises. The following year we could start work on a batch of 100 entirely British-made wristwatches. “Loomes & Co initially made gentlemen’s watches in Sheffield steel cases. I insisted on rapid development of both ladies watches and of solid gold watches. Those decisions drove sales. The firm now has both a healthy order book and a healthy balance sheet. A six-figure EU development grant means we have the capacity to produce over 80 per cent of our components in the building. I think the guys now see me as a safe pair of hands.” 01780 481319 www.robertloomes.com

Women perform better than men when it comes to effective leadership

How women at the top help deliver more creativity and innovation

The feminine model is taking charge

Encourage and support female talent

INDUSTRY VIEW

omen leaders are performing better than men on five of the seven key attributes identified as being critical to effective leadership, according to a recent global study. Signalling the dawn of a more “feminine” model for leadership communication, the third annual Ketchum Leadership Communication Monitor found that female leaders came out ahead after sampling 6,509 people from 13 countries across five continents. Some 57 per cent scored female leaders higher in terms of leading by example, 62 per cent scored female leaders higher for communicating in an open and transparent way, 66 per cent scored female leaders higher around admitting mistakes, 61 per cent scored female leaders higher in bringing out the best in others, and 52 per cent scored female leaders higher at handling controversial issues or crises calmly. Explaining the results, Denise Kaufmann (right), partner and CEO of Ketchum, London said: “Once upon a time, leadership was a man’s game. For centuries the tone was macho, almost to the point of caricature – strong, silent, imperious, domineering and invariably arrogant. Those days are done. Our study clearly shows that to inspire trust,

leaders of both genders need to avoid a command-and-control approach to leadership. Instead, we are seeing that leadership communication based on transparency, collaboration, genuine dialogue, clear values and the alignment of words and deeds is what people respond to – a model being followed far more consistently by female leaders. “This research finally puts to rest the flawed assumption that women need to act like old-school male leaders to make their mark.” Twitter: @KetchumUK www.ketchum.com

e often hear about the need for more women in business and, in recent years, many firms in the UK have recognised the business sense in recruiting women into key roles, and have made great strides in doing so. Our co-founder was female and the ethos she instilled in the company is reflected in our continued focus on hiring great women in all roles. However, there remains a major issue when it comes to women taking their place at the very top tables. According to recent government statistics, in the UK, women make up 51 per cent of the population but only 17 per cent of FTSE 100 directors, with even fewer actually holding a CEO role. VMware has recognised this challenge and has launched a global initiative focused on supporting and encouraging female talent in the organisation. This is sponsored by our CEO, Pat Gelsinger, and in our European business is sponsored by the general manager, Maurizio Carli. One effect of having women in key leadership positions in a company such as VMware is that it encourages women into roles focused on innovation and creativity – which is a critical aspect of the business we are in – and I’m pleased to report that our European R&D site director is a woman. Getting

women into more senior roles needs commitment and – crucially – to be driven by both men and women. Recent research has found that a critically important element in keeping hold of female talent is to create working environments where women feel they can be themselves, and can therefore thrive. If we achieve better gender balance in business, we not only reflect the way our world really is, but it also helps us to deliver improved creativity, innovation and bottom-line benefit. Sue Holly-Rodway (below) is Senior Director, EMEA Advisory and Professional Services, VMware +44 (0)1276 414300 www.vmware. com/uk

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Inspector Dogberry

A World Bank report shows West African economies such as Togo, Mali and Ivory Coast have introduced significant reforms over the last two years in regards to providing women with incentives to work. Hervé Assah, country

By Matt Smith, web editor

Dogberry was lucky enough to see

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and admired. She’s faced

manager at the World Bank,

u Editor’s pick The Glass Hammer

UK tennis sensation Andy Murray

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beat France’s Paul-Henri Mathieu

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an even more relevant role

former world number

Marion Bartoli win her first major

With detailed posts on a wide range of subjects, The Glass Hammer is an online community speciﬁcally designed for female executives in ﬁnance, law and business. The site’s objective is to “inform, empower and inspire”, and it does this through practical guides on everything from nurturing mentees to using your personality to your advantage.

one Amélie Mauresmo,

at Wimbledon in 2013.

as his new coach.

Murray says:

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the current

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singles titles,

looked up to

Research by Goldman Sachs suggests GDP growth and capita income are boosted if more women are brought into the workforce. The research suggested that if the gender gap in employment is narrowed in the BRIC and Next 11 countries (Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea and Vietnam), GDP growth trends could be boosted by around 0.8 per cent per year on average and push per capita income higher than Goldman Sachs’s baseline projections for 2030. Research also showed as female labour participation rates rise, countries can reap the benefit of a “double dividend”, as women are more likely to use their earnings and increased bargaining power to buy goods and services that improve a family’s welfare.

Drawing the line The Women’s Business Council

their female employees and

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understanding their individual

and managers to do more to

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ensure women are not being

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to take action today to shape their

Kathryn Nawrockyi, director

Expert ExpertInsight

40/20 Vision http://4020vision.com

more grand slams.”

future culture.”

This site is based around the interesting idea of women in their 40s passing on advice and experience to those in their 20s. In some posts this takes the form of a direct response to a question from a young woman, and in others experienced businesswomen share standout stories from their careers.

BlogHer www.blogher.com/bloghertopics/life/career This blogging community’s career section provides advice about succeeding in business from a variety of viewpoints. Topics range from job hunting to attracting online customers, and there’s also a daily newsletter that can deliver highlights directly to your inbox.

at Opportunity Now, says: “As well as the importance

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organisational and cultural change, Opportunity Now’s recent Project 28-40 report found that line managers also play a big role in inﬂuencing people’s experiences at work. “That’s why we’re calling for them to take

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Follow the Little PINK Book blog for career inspiration from founder Cynthia Good and her team of writers. The site describes itself as a mentor, career coach, ﬁnancial adviser, and entrepreneurship expert rolled into one. Launched in 2005, the magazine has grown to a readership of 650,000.

Harnessing female brain difference – the way forward for business INDUSTRY VIEW

ew discoveries in neuroscience demonstrate that our brains do their best thinking when we feel emotionally and psychologically safe. The competitive business environment demands leaders who can thrive in tough circumstances. That’s fair enough. However, many major companies lose the best of the brain energy they employ by seeking to extract from it rather than sustain it. This is done unwittingly and without malice, but it creates feelings of inadvertent threat that we now scientifically know inhibits key leaders’ brains from functioning at their full business

potential. Research shows that companies that have broken the glass ceiling and have more women in the boardroom produce share prices that outperform their peers, especially in tough markets. Women’s brains are differently tuned from men’s, and can contribute key factors that generate this sense of psychological and emotional safety at work. Historically, work has been structured to suit the male brain. It is now time for male-brain oriented organisations to take a serious look at what needs to change to truly harness the best of both. This is not a “nice to do” – it is a “vital to do”, if we want to create energetically sustainable businesses where new generations of men and women want to work. However, most companies are not set up to harness the difference – yet. In my research and practice,

I work with individual leaders (both men and women) and their organisations to help them understand and harness the energetic power that is latently available to them. This goes well beyond a simple appreciation of unconscious bias. After 30 years in leadership, 15 in international business and 15 in leadership coaching and consulting, I see the game changing. My aim is to work with clients – women and men – applying neuroscience to reduce the loss of brain energy at work and to use each gender’s strengths to maximise company performance. Kate Lanz (left) is the managing director at Lanz Executive Coaching 020 3086 7678 www.lanzexecutivecoaching.co.uk

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Women in business

Business World Myanmar

The Myanmar Development Resource Institute Centre for Economic and Social Development has released a report on women’s participation in the subnational governance of Myanmar. Key findings indicate that apart from their involvement in civil society and NGOs, women are found to have very low levels of participation in various governance institutions operating at the subnational level in Myanmar. The evidence suggests women prioritise issues of health, education, sanitation and microfinance. Therefore, increasing women’s participation is likely to make governance decision-making more responsive to women’s concerns, and have general positive effects on the performance of governance institutions.

Romania

ExpertInsight

International Finance Corporation has approved a €35million loan to Garanti Bank Romania to help finance the country’s SMEs, with €20million designated for companies owned or managed by women. Ufuk Tandogan, CEO at Garanti Bank Romania, says: “Garanti Bank has been supporting entrepreneurs, with a focus on women-led

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small and medium-sized enterprises, for the past four years. By providing loans to this sector we want to help them develop, increase competitiveness and overcome obstacles they are facing in the current challenging economic environment.” Romania is home to more than 400,000 women entrepreneurs, representing 36 per cent of shareholders and associates in local firms.

South Africa

Coca-Cola South Africa and UN Women plan to reach more than 40,000 women in South Africa, Egypt and Brazil by the end of 2015 with a programme to promote their advancement and economic empowerment. The programme aims to identify and address barriers women entrepreneurs are facing and provide women with business skills, leadership training, mentoring, peer networking skills and access to financial assets. Sadiq Syed, deputy representative and officer-incharge at UN Women South Africa, says: “Empowering women contributes to building sustainable communities. A woman’s income immensely benefits not only them but also their children’s education and other needs. Empowering women will benefit communities and future generations.”

The consulting firm where you’re actively encouraged to #BeYourselfAtWork Change equals opportunity for all INDUSTRY VIEW

f you work in financial services, it’s likely that you will have heard of Capco – the business and technology consulting firm dedicated to the financial services industry. With double-digit annual growth and a string of awards, Capco is an attractive proposition to employees. Growth brings change, and Capco is thriving in an environment where change has become the norm. As many change experts will know, mastering change is no easy task; how do you maintain the feel of a start-up culture while continually increasing headcount? How do you sustain engagement and a sense of empowerment while keeping things moving? How do you attract and retain a diverse workforce in an industry that is

historically male-dominated with a lifestyle that can be challenging for working parents to manage? As Isabel Naidoo (below left), Capco’s global HR director and mother of three young children attests, there’s no place quite like it. Excited by the changes afoot, she shares what this means for Capco’s employees.

How has Capco addressed the challenge of creating an inclusive culture? Consulting is a people business, and Capco places people at the heart of everything it does. The leadership team listens to everyone’s ideas and opinions and employees are empowered to make change happen. Just last week, we crowd-sourced ideas to improve our performance management process; from appraisals to compensation structures, we give our employees the opportunity to shape

the firm. Capco’s culture is one of transparency, honesty and support networks. It’s about allowing everyone to be themselves, to show that their opinions count and to feel that they belong to a community that is there to support them and to help them succeed.

What support do women need to succeed? A success factor in my career has been the presence of mentors and role models, both formal and informal. They have provided guidance at critical junctures and acted as my advocates. At Capco, everyone has a coach within the business and we also run specific mentoring programmes for our female talent, such as mentoring circles. Capco launched the #BeYourselfAtWork campaign to drive an understanding of different styles and approaches in the workplace. We strive to create an environment where delivered output rather than hours in the office is recognised.

Why should women consider a career in consulting? Consulting offers an exciting and rewarding career. It provided me with opportunities to build up experience by working with different clients and experiencing different working environments. This rapid progression can offer, for women in particular, an opportunity to advance to a level in their career where they are happy, before they start to take on increased personal commitments, such as having a family. For Capco, having a diverse workforce is a fundamental part of what the firm is all about. As a rapidly-growing company with a start-up feel, Capco offers all employees an abundance of opportunity to grow and shape their career. The size of the firm means that while we are big enough to have high impact with our clients, we are small enough to care about each employee individually. http://ukcareers.capco.com www.capco.com

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Businesses that take a positive approach to providing for working parents will see a return on their investment. By Joanne Frearson

Succeeding on merit INDUSTRY VIEW

here are only four female chief executives in the FTSE 100. Over recent years, initiatives to increase board-level female representation boosted appointments, but progress has slowed in some areas. The slack has been taken up in the professional services sector, with a clutch of new female managing partners in law firms since the start of the year, and with female partnership promotions soaring to 30 per cent over 2013-14, compared with just 14 per cent a year earlier. But some women in business are still not realising their full potential. “The last thing most women want is positive discrimination. They want

to succeed on merit,” explains Vivienne Williams (below, far left), partner and head of claims solutions at law firm BLM, which has one of the strongest female representations among its partnership in the UK’s top 50 law firms. “Women in professional services in previous decades may have struggled to rise to the top due to a combination of factors, but that is changing – now firms positively herald the numbers of women in their partnership. To succeed women should be confident that they are equal to their peers of whatever gender, and focus on what they want to achieve.” Louise McCarthy-Teague (below left), HR and training director at law firm BLM, commented: “Businesses are responsible for inspiring ambition both in men and women as they build their careers. Women must be seen as possible leaders of the future alongside male counterparts and consign the glass ceiling to the past.” 020 7638 2811 www.blmlaw.com

ExpertInsight

Bid to find female engineers INDUSTRY VIEW

oung female engineers: your country needs you. This is the message from the Institution of Engineering and Technology (IET), which has relaunched its Young Woman Engineer of the Year Awards with a renewed emphasis on finding female role models to fill the skills crisis. Women currently represent only 7 per cent of UK engineers, putting the country in a dire position in finding the 87,000 new engineers estimated to be needed annually over the next decade (according to Engineering UK). The lack of female engineering role models is one of the barriers to girls choosing to study STEM subjects and pursue a career in engineering. Former winners and finalists of the awards include Abbie Hutty, a spacecraft engineer currently working on Europe’s first Rover Mission to Mars; Yewande Akinola, an environmental services engineer; and Roma Agrawal, a structural engineer who worked on The Shard and recently featured as one of the models in the M&S Leading Ladies campaign. IET chief executive Nigel Fine said:

“We’ve been running our YWE Awards for 38 years and have produced a number of fantastic female ambassadors for engineering as a result. This year has seen growing momentum from government, industry and educators to encourage more girls to study STEM subjects, so it seems timely and appropriate to make finding inspirational female role models who can support these efforts the key focus of our successful awards.” Former YWE finalist Roma Agrawal, a structural engineer, said: “I realised very early on in my career that female engineers are in short supply – and that there was a real need to do something about it. Being a finalist in the Awards in 2012 has led to all kinds of opportunities to promote engineering to girls. I would encourage other young female engineers to enter and join the campaign to help inspire a future generation. My vision is to see women making up 30 per cent of the workforce over the next 10 years.” The deadline for entry to the awards is July 31, 2014. www.theiet.org/YWE

14 · Business Reporter · June 2014

Sheryl Sandberg In the future, there will be no female leaders. There will just be leaders.

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The future

Three top tips

Statistics don’t tell the whole story...

Women in business Industry view

Business Zone

“

overnment attention has been a key factor in the rise in the number of female executives who hold board-level positions in FTSE companies. But has this been the only significant factor driving change, and if so is it cause for concern? A recent Harvard Business Review highlights that companies have three different approaches to diversity. Some take the view that it is fair and therefore the right thing to do. For others the motivation is more commercial, especially in markets that have a high proportion of female customers such as retail. In these cases a greater proportion of female executives at board-level provides better insight and access to their customer base. Finally there are those organisations who embrace diversity because they have found it improves decision-making, drives innovation and generates genuine commercial advantage.

If these are the reasons for the positive shift in the number of female executives at board level, then we are making real progress. On the other hand, if the primary reason for the shift is government pressure then the underlying behaviours and barriers that prevent greater diversity at board level remain largely unchanged. This would mean that diversity is little more than window dressing and companies will not reap the benefits that genuine diversity provides. Chairs play a pivotal role in ensuring that female board executives’ views and recommendations are heard and given due consideration. Indeed, culture and behaviours can really change when boards contain three or more women. Chairs need to ensure that the benefits of diversity manifest themselves in the board’s motivations, decisions and business outcomes. Successful boards have a balanced

and broad perspective that brings customers, staff and investors with them. As boards come under increasing customer, regulatory and investor scrutiny, how and why boards do things is important, not just what they do, starkly illustrated by the recent company tax debate. Speaking at the recent CISI annual conference and listening to the views of politicians such as Dr Vince Cable, business leaders such as Sir Richard Lambert, academics such as Sir Andrew Likierman and investors such as Stephen Cohen led me to conclude that women could contribute so much more if boards more readily recognised that they can add value because of their gender rather than in spite of it. Joëlle Warren is executive chairman of Warren Partners 0845 261 0600 www.warrenpartners.co.uk

In focus: Creating a level playing ﬁeld Representing women above the standard

t Hermes our people strategy focuses on delivering the leadership and talent our business needs to achieve planned business growth and success. A third of the main board positions are held by women at Hermes, as are a third of all senior management positions. In addition, more than 60 per cent

of our field team leaders are women. While there is still work to be done, women are extremely well represented in our business, well above the industry norm. We have achieved this by trying to create a level playing field for everyone by having an environment whereby employees of both genders can flourish. We

recognise diversity across the business, resulting in a workforce made up of experienced career people, new entrants, diverse ethnicity, women in leadership roles and those with disability status. We are positively working to develop our women leaders through our Women’s Network, promoting specific development, community involvement and strengthening the different contributions that gender can play in our business and the areas in which we work. Our network is open to all genders and forms part of our wider agenda on diversity in the workplace.

We also try to offer flexible and part-time working whenever feasible, but this is designed to benefit both male and female employees. Government legislation is also moving in this direction, recognising that the traditional male/ female family roles are no longer always the norm. At Hermes we like to create champions who can help inspire others and yes, some of our best examples are women. Carole Woodhead (inset, left) is CEO at Hermes communication@ hermes-europe.co.uk

ow can talented women accelerate their progress through the organisational pipeline? Since 2008 my executive coaching company has run Women’s Impact Programmes for senior and high-potential women. These are the top three behaviours we help them develop: • Set boundaries. Most women work incredibly hard and struggle to say no. Many are simply too accommodating, often feeling like the ‘squashed filling’ in a sandwich of demands from above and below. We help them focus on doing what only they can do. This means learning to handle difficult conversations assertively, and better delegation. • Develop leadership presence. Women tend to under-value themselves – fewer apply for promotion or pay rises. In meetings, self-deprecating language conveys a lack of confidence. We help women articulate their ‘leadership brand’ and transform their communication skills without losing their authenticity. • Manage upwards. Women often keep a low profile, not sharing achievements or aspirations. We help women engage and impress senior decisionmakers and turn them into powerful career sponsors. As unconscious gender bias is addressed, more businesses will recognise the value women bring. Helping capable women maximise their self-assurance, impact and skill is an equally vital part of achieving change. Dr Catherine Sandler runs Sandler Consulting +44 (0)20 7723 5525 www.sandlerconsulting. co.uk

Business Reporter · June 2014 · 15

AN INDEPENDENT REPORT FROM LYONSDOWN, DISTRIBUTED WITH THE SUNDAY TELEGRAPH

The debate Why is boardroom diversity important?

Therese Tucker

Ann Swain CEO APSCo

Director, Ashridge Masters in Sustainability and Responsibility

Director of Tectre and chair of BCSWomen, part of BCS

Executive chairman Warren Partners

A diverse boardroom is reflective of the real world, harbouring different skills, competencies, philosophies and life experiences. It levels the playing field and ultimately improves business decisions. As a big believer in meritocracy in the boardroom, I find it surprising that the increasing rate of women on boards is still very low. In my experience, women are insightful. Given that the information presented at a board meeting is often at a high level and very polished, women show strength in spotting discrepancies or planning weaknesses. They drive to understand its underpinnings and inherent value. Additionally, in the technology world, I’ve found women typically think about things in more useable, real-life ways than men do. They put themselves in the shoes of the end-user and think more about how the software may be used to help people in the future. This almost always translates into better, more user-friendly software in the end.

Women now account for just over 20 per cent of FTSE 100 board positions and it looks like Lord Davies’ target of 25 per cent may well be achieved next year, but the glass ceiling remains firmly intact. Most of these positions are non-executive with limited influence – and the situation in the FTSE 250 is much worse. This is important because diversity of talent is strongly associated with diversity of thought. Research by McKinsey & Co and others has proven the business case: having women in the boardroom drives better business results. More fundamentally, there is a 28 million female customer base in the UK that businesses need to understand and reflect. Recruitment firms can play an important role in helping female talent rise to the top. APSCo (Association of Professional Staffing Companies) encourages its members to sign a commitment to diversity, and many have developed strategic partnerships with employers to help them take this important agenda forward.

We need to broaden traditional business values in order to keep women engaged, to draw on their skills and strengths and recognise their contribution to business. We must create and build businesses which are healthier, more fulfilling workplaces that conduct ethical, sustainable and responsible practice. Diversity, in all its forms, matters. This is because the commercial challenges we face often arise from multiple, complex causes and so require multiple points of view to generate solutions. Over the past 15 years, Ashridge Business School has delivered the Masters in Sustainability and Responsibility, which is designed for people who are committed to responsible and ethical leadership to create a more sustainable future. I am delighted that so many of our graduates have been women, and many have gone on to play creative and innovative leadership roles. We all need this kind of responsible, values-aware and imaginative leadership.

Diversity and the benefits it can bring starts at the top of an organisation. A diverse board is more likely to ensure that employees reflect their customer set. Research now suggests that diversity is proven to bring benefits to an organisation, including increased profits, better share prices and greater innovation. To achieve this, though, we need to break down barriers to create a more diverse leadership. It is common knowledge that we are hard-wired to prefer people who look like us, sound like us and share our interests. Yet hiring in one’s own image is to be avoided, since it can lead to a workforce which doesn’t fully represent our customers or society. Subconsciously, success has a certain shape in our minds, thus, when assessing staff or peers, this shape can dictate how favourably (or not) we value someone. These unconscious biases can lead to us making poor decisions, particularly around recruitment, assessment and retention.

Despite recent improvements in boardroom gender diversity, the ratio of women to men at executive level remains lamentably low. The talent pipeline in organisations continues to leak women and other forms of diversity struggle to get attention. Boards that recognise the benefits of diversity highlight the fact that different views and thinking leads to better decision-making, and that tackling issues in different ways achieves greater innovation – a diverse board better represents its customers, community and people. These boards are also keen to address the broader issues that cause talented women to leave before they become eligible for appointment. Fairness as a rationale for diversity, and voicing the hope of a trickle-down effect is more prevalent in these companies. Importantly, boardroom behaviour has to change if we are to reap the full benefits of diversity. This requires chairs to get the most from the board by maximising the contribution of every team member.

www.apsco.org/why

www.ashridge.org.uk

gillian.arnold@tectre.com bcshq@hq.bcs.org.uk

0845 261 0600 jwarren@warrenpartners.co.uk

CEO and founder BlackLine Systems

ExpertInsight

020 3514 5391 www.blackline.com

Gill Coleman

Gillian Arnold

Joëlle Warren

Young, enthusiastic and successful… Heidi shows how determination can pay off INDUSTRY VIEW

omen in physics are rare. However, relatively large numbers of young women start the nanoscience study programme at the Swiss Nanoscience Institute (SNI) at the University of Basel. One of these is Heidi Potts (far right). In 2008, the 25-year old German citizen started her studies in nanoscience. She successfully completed the numerous lectures and practical projects in physics, chemistry, biology and mathematics that allow an excellent insight into the diverse topics of nanoscale sciences and their applications. When the time approached to select a topic for the master’s thesis, Heidi did not take the easy route. Instead of applying to one of the numerous research groups at

the SNI in Basel, she pursued her goal to combine a thesis about solar cells with her wish to stay in Canada for a while. Dedicatedly, she scanned publications and the internet and was finally successful at the University of Toronto with Professor Nazir Kherani. He was looking for a candidate who studied ultra-thin silicon solar cells that are more cost-efficient than standard products. Heidi successfully examined problems related to the subsequent minimisation of the solar cells and suggested ways to prevent them. Not only was her supervising professor impressed by her work but also the SNI, as she was awarded the prize for the best master’s thesis in nanoscale science at the University of Basel in 2013. In the meantime, Heidi has started her PhD at the EPFL in Lausanne under the supervision of Professor Anna Fontcuberta i Morral. For her thesis, she produces and examines nanowires with novel physical properties. “I feel well prepared for this topic, which is

classically investigated by physicists through my nanoscience studies in Basel and the expertise that I have received during my education,” Heidi said when asked about her work. meret.hornstein@unibas.ch www.nanoscience.ch