Empowering Female Leaders

AUGUST 2019 | FUTUREOFBUSINESSANDTECH.COM

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EMPOWERING FEMALE LEADERS

Emily Ratajkowski The model and fashion designer talks about how women can take charge of the industry

A key engineer at a major wireless leader looks to inspire other women in tech “Shark Tank’s” Barbara Corcoran discusses what makes a great entrepreneur

The 5 Steps Companies Can Take to Achieve Gender Equity Corporate America has a long way to go to achieve gender parity.

Only 27 S&P 500 companies have female CEOs. While research affırms companies with diverse leadership perform better, many grapple with how to address gender imbalances.

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fter 35 years in the workforce, including seven as CEO of DuPont, it was clear to me that corporate culture needed to change. In 2016, a group of women business leaders launched the Paradigm for Parity® coalition to achieve gender parity in corporate leadership by 2030. We created the following Five-Point Action Plan that member companies agree to implement: • Minimize or eliminate unconscious bias. Initiate unconscious bias training and ensure company leaders comprehend, own, and address the conscious and unconscious biases that prevent women from succeeding.

• Significantly increase the number of women in senior operating roles. Since gender parity (50/50) is your ultimate goal, target as a short-term goal that a single gender will not account for more than 70 percent of a leadership level.

• Measure targets at every level and communicate progress regularly. Set measurable goals and hold yourself

and your senior team accountable.

Communicate results to your wider organization and board.

• Base career progress on business results and performance. Thi s shouldn’t be measured by presence alone. Give women and men control over where and how they work. Create cultural change that acknowledges the needs of all employees.

• Identify women with leadership potential, and give them sponsors and mentors. Look for the best within your organization and help them succeed by assigning each woman a mentor and a sponsor.

Culture change is challenging, but it is encouraging that 105 companies (and counting) believe that when a CEO commits to implementing these steps simultaneously, companies will increase the number of women — of all races, cultures, and backgrounds — in leadership positions. ■ Ellen Kullman, Co-Chair, Paradigm for Parity® Coalition

Publisher Amanda Deutch Business Developer Joelle Hernadez Managing Director Luciana Olson Lead Designer Tiffany Pryor Designer Celia Hazard Lead Editor Mina Fanous Copy Editor Dustin Brennan Director of Sales Shannon Ruggiero Director of Business Development Jourdan Snyder Director of Product Faye Godfrey Content Strategist Vanessa Rodriguez Cover Photo Leeor Wild All photos are credited to Getty Images unless otherwise specifıed. This section was created by Mediaplanet and did not involve USA Today.

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P L E A S E R E CYC L E

How Emily Ratajkowski Designed Her Own Success

“Shark” Investor Barbara Corcoran Wants Women to Take a Bite out of the Competition A real estate mogul and successful businesswoman, Barbara Corcoran has gained fame as an investor on ABC’s hit show “Shark Tank.” In an exclusive interview, she talks about what it took to build a successful business, and what aspiring entrepreneurs need.

What advice do you have for young aspiring entrepreneurs?

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mily Ratajkowski, the founder of fashion line Inamorata Woman, knew she had what it took to start her own business while working as a model on major campaigns.

“They were hiring me traditionally as a model, but of course they were using my social channel and my art direction,” Ratajkowski said. “I started to realize my value and I wanted to do it myself.”

Ratajkowski, 28, began her business in 2017 with a line of designer swimwear. The brand now boasts more than 460,000 Instagram followers and Ratajkowski has become an advocate for women’s leadership.

Humble beginnings When she started out, Ratajkowski recognized the obstacles she and many other women faced.

“As a woman, you’re really taught to question everything you know, and to act like everyone else — especially the men in an industry like this — know more than you,” she said. “What I’ve found in these two-plus years is that everyone is just faking it until they make it, and whatever you don’t know, you can learn.”

Boosted by her social media following, Ratajkowski was able to build her business on her own terms.

“I grew up in a pre-Instagram, pre-social media world, so my influences only came

PHOTO: LEEOR WILD

Model and fashion designer Emily Ratajkowski is tired of playing by men’s rules, and is championing more women to create their own success.

through the media and not directly from the talent I admired,” she said. “I really love that as someone who now has a platform like this, I’m able to use it to talk about things I care about.”

Long road ahead Like many industries, fashion has a long way to go when it comes to empowering female leaders. Women are 17 percent more likely to aspire to leadership roles in the fashion industry, but men are 20 percent more likely to attain those roles, according to a 2018 study by Glamour magazine and the Council of Fashion Designers of America.

More women than men enter the industry, yet fewer are offered the chance to rise. Ratajkowski argues that, like her, women need to make those opportunities for themselves, but that confidence can be an obstacle.

“Women, when they’re confident, are really intimidating,” Ratajkowski said.

“You’re taught to be so concerned with being likable that you default back to that, especially in business.”

Ratajkowski said she’s happy to see young women more eager than ever to take the reins in spite of the obstacles they face. “My generation and the generation below me won’t stand for anything else.” n Ross Elliott

Most people spend way too much time getting everything ready and getting it right, but in business, you don’t have to get it right. You just have to get it going.

All great entrepreneurs have two things in common: They’re natural risk-takers and they’re salespeople at heart. If you don’t have those two qualities, you’ll make a lot more money working for somebody else.

What advice do you have for women who are already in the business field, but are looking to advance their careers and seek leadership positions?

Ask for what you want and look to take on more responsibility; raise your hand. Then you can ask for the money you deserve.

Don’t think for a minute that being a woman in a man’s world is a disadvantage. The more men there are in your field, the easier it is to be noticed. If people underestimate you, you have the huge advantage and the freedom to creep up and bite them from behind.

When you interview for a job, always quote your pay 10-15 percent higher than what you really want, and know that the guy also applying is quoting a higher number, too.

In your experience, how has a diverse workforce helped a company’s bottom line?

It takes lots of different talents to build a successful business; different personalities and viewpoints, and opposite strengths. I built my business like a crayon box — one of everything.

Together, we had all the talents needed to become whatever we could dream up.

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Want to Run Your Own Business?

These Tips Can Help Thinking about starting a business or already taken the leap? Here are some tips to succeed and stay ahead.

Now more than ever, women are taking a more prominent position in the business world.

According to the 2018 State of Women-Owned Businesses Report, women businesses have grown by 58 percent since 2007, and that percentage will only continue to grow.

Staying ahead in the business world, while also working to maintain a regular life, are challenges all entrepreneurs face. As the President and CEO of the Women’s Business Development Center, I have found the follow-

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ing tips to be helpful in continuing to succeed and prosper as a woman business owner: Seek out a mentor The business world is ever-changing. A mentor can help give solid advice, offer guidance in certain areas of business you may choose to explore for future growth, suggest solutions for issues you may face, and more.

Your mentor does not need to be your twin. In fact, some of the best mentors have completely different experiences or are in different industries. It’s also important to recognize your mentors will change as you and your business grow.

Continue learning Obtaining a mentor is just one of many steps in the learning process as a business owner.

Numerous webinars and business panels are available, in addition to conferences and summits, for added learning opportunities.

There are over 1,000 Small Business Development Centers across the country that provide no- or low-cost training, and many of these offer focused services for women business owners.

Network effectively Not only are summits, conferences, and business panels great for added learning, but they also offer the opportunity to network with potential business clients, partners, and even employees. However, there is an art to effective networking.

Be thoughtful in selecting your venues. If you are looking for investors, don’t expect to find them in a business planning class, but if you are looking for

potential business allies, that might be the perfect spot.

Also make sure to make networking a shared investment.

You need to be willing to help and engage as well.

Find a healthy work-life balance Being a business owner, no matter how large or small the business, can sometimes be a daunting challenge. That’s why it’s important to find a healthy work-life balance and avoid burnout. Schedule time for small mental health breaks every day. Plan an annual vacation. Find time to relax with friends at the spa or over dinner. And overall, do something nice for yourself.

Owning your own business is one path to economic independence. It can be challenging, but the reward is worth it in the end. Most importantly, you need to believe in yourself and be your own advocate. n Emilia DiMenco, President and CEO, Women’s Business Development Center (WBDC)

Why Diversity in Front of and Behind the Camera Is Important Bruna Papandrea has produced movies and TV shows for more than 20 years. We asked her about the climate for women in the entertainment industry, and why it’s important for people of all identities and backgrounds to tell their stories.

What advice would you give to aspiring women in the entertainment fıeld?

The advice I give to all women working in creative fields is to never let money be your first motivator, always listen to your creative instincts, and never be afraid to voice those instincts in any room.

Can you tell us a little bit about how you got started in the industry?

Where Are the Women CEOs? Gender imbalance at the top of corporate America often comes down to organizations not giving earlycareer women the tools they need.

Why are just 5 percent of CEOs at S&P 500 companies women?

More than half of college graduates in the United States are women, and women account for more than one-third of the students who receive MBAs. Yet when entering the workforce, men are more than twice as likely to be in the pipeline to becoming CEOs, according to Working Mother Research Institute’s 2019 study “The Gender Gap at the Top.” The study shows that the gender gap starts early in careers. Most companies do not provide new employees with information about the difference between “line” roles that lead to the top — where you gain experience in generating revenue — and “staff” or support roles.

New workers need to know the path they must take to become CEOs and make the right choices for themselves and the company. They need to know that to compete, they must hold positions where they’re ensuring the profitability of a brand or a

line of business, known as profit-and-loss (P&L) experience.

The right opportunities Somehow only 23 percent of corporate women, compared with 82 percent of corporate men, say they knew about these diverging line and staff career paths when starting out. Why? It’s about knowledge and relationships. Men often have advocates who promote them into P&L positions that lead to the top. Nearly twice as many early-career men have a strategic network of sponsors and mentors who offer career guidance. So men, not women, are steered into the revenue-generating jobs that make them eligible for advancing to the top job.

Before we will see more women CEOs, companies need to ensure women have information about the jobs that lead to the top and the sponsors who open the doors to it. Companies must also hold managers accountable for ensuring talented women gain the essential P&L experience that makes them competitive. ■ Betty Spence, Ph.D., President, National Association for Female Executives (NAFE), Working Mother Media

I desperately wanted to be an actress or a writer, but got rejected from all applicable institutions — clearly it was not meant to be. I started working for a creative commercial producer, but my biggest break came when I met Anthony Minghella in London.

Why do you feel it’s important to have diversity represented in the writing and directing aspect of entertainment?

It’s incredibly important to have diversity in front of and behind the camera.

The stories we tell should reflect the world that we live in and those diverse perspectives.

What improvements do you think the entertainment industry needs to make for women? And where have you already seen improvements?

I’ve definitely seen improvements in episodic television. The numbers are really shifting in terms of directors, but the discussion is a much bigger cultural conversation about empowering young women to feel like they can tell the stories they want to. We also need to really look at finding financial parity for below-the-line women in the entertainment business.

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Upcoming Events Brave Enough Conference 2019 Sept. 12-15, 2019, Scottsdale, AZ

You Wield Great Power As a Woman in Business It’s hard not to feel alone in a man’s world as a businesswoman, but our panel of experts is here to explain how their mentors showed them to use that as an advantage.

National Black MBA Association Annual Conference Sept. 24-28, 2019, Houston, TX 2019 Women in HR Technology Summit Oct. 1, 2019, Las Vegas, NV Women in Insurance and Financial Services 2019 National Conference Oct. 14-16, 2019, Louisville, KY

Dylan Lauren Owner, Dylan’s Candy Bar

Forté Foundation College to Business Leadership Event Oct. 18, 2019, New York, NY

Dr. Katie Rodan (L) Co-Founder, Rodan + Fields Dr. Kathy Fields (R) Co-Founder, Rodan + Fields

Women Who Count National Conference, presented by Accounting & Financial Women’s Alliance Oct. 21-23, 2019, Orlando, FL Women in Tech East Coast Oct. 24-25, 2019, Boston, MA Wonder Women Tech-Long Beach National Conference Nov. 7-9, 2019, Long Beach, CA Forté Foundation Women of Color College Leadership Event Nov. 15, 2019, Washington D.C. 2019 She Leads Conference for Women Leaders and Entrepreneurs Nov. 21-22, 2019, New York, NY The 2020 Young Women’s Conference in STEM March 20, 2020, Princeton, NJ

Mischia Taylor Dean, Godbold School of Business, Gardner-Webb University

What’s the best business advice you’ve received from another woman?

Dylan Lauren: A female athletic coach gave me some of the best advice, which I apply to business. She suggested that in order to run as fast as you can and win the race, you have to stay focused and look ahead. If you look to the person on your right or left, you will trip and fall.

Dr. Katie Rodan: Keep your eye on the ball, then once it’s in your field of vision, hit it

with everything you’ve got! The best path to success is staying focused on your goal, committing fully, working hard, picking yourself up when you fall, and playing fair.

Dr. Kathy Fields: You must believe in what you are doing and never stop networking! Get a mentor — someone who encourages you, helps you work through the hard parts, and cheers your success.

Mischia Taylor: I’m blessed to receive guidance from so many influential, successful businesswomen in my life, that it is impossible to quote just one piece of advice. Collectively, they would say, “Trust yourself, do not be afraid to take risks, remember to ask for forgiveness, always serve others, and just be you!”

Anastasia Ratzlaff: The best business advice

Paving the way for more women to lead at every level of marketing, media and tech.

To be part of our mission visit sherunsit.org or email nadia@sherunsit.org

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Anastasia Ratzlaff Dual BA-MBA Degree Alumnae 2019, Stockton University

I received came from several female professors at Stockton University, which was, “Don’t be in the mindset that you have to pick one career choice, because your career is going to be made up of different titles, different positions, and different companies. Your power is in what makes you different. Business can be seen as a man’s world; being a woman, you are different, but different is good.”

PHOTO: COURTESY OF T-MOBILE

Heather Nolis, Software Engineer on the AI at T-Mobile team (left) with her wife Jacqueline Nolis (right) and son Amber Nolis.

How One Woman’s Engineering Journey Serves to Uplift and Support Other Women SPONSORED

Heather Nolis, who grew up on a farm in Oklahoma, never planned to have a career in technology, but now, she is an engineering leader at a major wireless provider.

A founding member of T-Mobile’s artificial intelligence (AI) team, dubbed “AI at T-Mobile,” Nolis has a master’s degree in software engineering and has been with the company for two years. The team focuses on the conversion of cutting-edge analyses to real-time, scalable datadriven products, and has 25 members, 60 percent

of whom are women. As one of the first females on the team, Heather made a purpose to partner with her boss to have a diverse set of potential candidates being interviewed for roles, leading to significant female representation.

“Do this for other women” Nolis was nervous that a career in tech would be intimidating. A peptalk from her wife, who also works on the AI at T-Mobile team, changed her mind.

“She is a data scientist.

She’s a trans woman and she was socialized as a man. She sat me down and said, ‘You have to do this,’” says Nolis. “‘You have to do this for other women who don’t have this opportunity. You’re smart and strong and

capable and you can speak your mind.’”

Nolis started out as an intern at T-Mobile. At the end of her interview for a full-time spot, she was offered the position.

She had natural concerns that she’d be the only woman on the team at the time and she asked if she’d fit in. Her boss said it would be no problem, knowing that the plan was to continue increasing diversity across the organization. The proof was also in the recognition T-Mobile had received, including being voted onto several “best workplace for diversity” lists by its employees.

Nolis encourages women to speak up and ask questions, especially during the hiring process.

She also says that women should do their research

before accepting roles, asking questions like, “Is the company known for being diverse and inclusive? What is the evidence?”

Empowering women Nolis knows how difficult it can be for women to feel that they have the exact skills to be in a technical role — often looking for a 100 percent match with what is on a job description, which can lessen options. When it comes to hiring, she and her team have found ways to quantify “soft” skills such as good communication and creativity, so that even those who don’t have a strong tech background can be considered.

She’s grateful to work at T-Mobile, explaining the company is committed to empowering female

employees, with several Diversity & Inclusion networks — including the Women in Leadership and Pride & Allies networks — which attract over 24,000 employees.

“It’s the safest I’ve ever felt expressing ideas,” she says.

While she once worried the tech industry would be tough on her, she now thinks differently.

“I thought I would be constantly looked down on,” she says. “What I immediately found was that the person being most critical of me, was me.”

Finding support The software engineer is thriving due to the support of other women.

Here’s an example: as a new hire, Nolis planned to attend a Lesbians Who Tech conference.

She tweeted that she was going to pay her own way, until a female T-Mobile director saw the tweet and connected her to company resources who paid for her to attend.

Nolis advises women in tech to look for companies that support them and to ask other females for help.

“Almost every woman that you find is your fiercest advocate,” she says, concluding, “Women who have gone through the hard process want to give you a hand and make it as easy for you as possible.”

Looking for a role in tech, head to the T-Mobile careers page and see what it’s like to join the Un-carrier! n Kristen Castillo MEDIAPLANET • 7