Hello and welcome to Working It. Exciting news! Claudia Goldin, a Harvard professor, has recently been awarded the Nobel Prize for economics. Goldin’s groundbreaking research focuses on women’s outcomes in the labor market. One of her most surprising discoveries is that women’s participation in paid employment doesn’t follow a linear pattern with economic growth. Instead, it forms a U-shaped curve. The Financial Times has an insightful interview with Sarah O’Connor about Goldin’s work, specifically on “greedy jobs” in professions like management consulting, law, and banking. It may not reassure you about the long hours these jobs entail, but you’ll gain valuable insights into the challenges faced by individuals with family commitments. Keep reading for a deeper understanding of women’s experiences in the workplace, including the significance of microaggressions, and in Office Therapy, we offer advice to a manager dealing with underperforming staff. Feel free to share your thoughts, rants, and ideas on improving work culture by emailing [email protected].
💡Flexible work: Catapulting women’s career ambitions🚀
Flexible working arrangements have unleashed an unprecedented wave of ambition among women. In fact, a recent survey reveals that 96 percent of women prioritize their careers. Say goodbye to viral trends promoting “lazy girl jobs” and “quiet quitting” – women’s ambition is on the rise since the onset of the pandemic. We’re hungry for more success and are determined to take charge of our careers. This positive trend is highlighted in the latest McKinsey Women in the Workplace report. I’ve delved into the entire 52-page report so you don’t have to, and let me tell you, the findings are far from depressing. McKinsey collaborates with LeanIn.org to conduct this survey, building on Sheryl Sandberg’s global movement to advance women in the workplace. The survey involved over 27,000 employees and 270 senior HR staff in the US and Canada. The report reveals that young women, in particular, are highly ambitious, with three out of four aspiring to reach senior leadership positions. In my conversation with Alexis Krivkovich, the senior partner at McKinsey and co-founder of the Women in the Workplace report, I asked why senior corporate leaders are insisting on strict return-to-office policies despite the success of remote work for women. Alexis explained, “It’s not just a women’s issue; both men and women now view flexibility as one of the top three benefits, alongside health benefits. There’s no turning back from that.” Alexis also highlighted the significant generational, racial, and gender discrepancies between senior leaders and their diverse talent pool. It’s crucial to address workplace microaggressions, which disproportionately affect women. Data shows that women are twice as likely to be interrupted and subjected to comments about their emotional state. For black and Latina women, individuals with disabilities, and LGBTQ+ individuals, the frequency of microaggressions is even higher. These experiences can eventually lead to one-third of women hesitating to express their opinions. There are small steps we can all take to make a difference, such as amplifying the voices of colleagues who are talked over or ignored in meetings. By speaking up and saying, “Hold on, I think X wasn’t finished yet,” we can create a more inclusive workplace environment. 🙋🏽
*Microaggressions are acts of subtle prejudice and exclusion that have a significant impact on well-being. The term was coined in 1970 to describe acts of prejudice that are less overt but still harmful.
This week on the Working It podcast 🎧
We all make mistakes, even if we’re reluctant to admit it. But do you know the difference between a mistake and a failure? Can failure be “intelligent” and serve as a valuable learning experience? In this week’s episode of the Working It podcast, I’m joined by Amy Edmondson, a rock star in the field of management and a Harvard Business School professor. Amy is renowned for her work on “psychological safety” in teams and its role in fostering cooperation. We dive into her new book, “Right Kind of Wrong,” which explores the importance of embracing failure as a crucial aspect of our growth. Later, I chat with my frank and honest FT colleague, Brooke Masters, about the worst professional mistakes we’ve made. Get ready for an eye-opening conversation! 😳
Office Therapy 💼
The problem: We’re dealing with a case of “dead wood” among our staff. Each team leader has at least one long-standing employee who seems disengaged and uninterested in applying for new roles within the organization. They won’t leave either, as it’s a great place to work. This situation is causing a blockage in our pipeline for new talent. How can we encourage more people to take on new challenges? We’ve tried one-on-one coaching and offering secondments, but nothing seems to work. 🤷🏽♂️
Isabel’s advice: This is a common issue in workplaces, particularly those with a caring and comfortable culture. Pushing people out is challenging unless incompetence can be proved. You may consider exploring the possibility of a voluntary redundancy scheme with your HR department and leadership. However, it seems that many of these individuals wouldn’t be enticed by a payoff. I reached out to Ann Francke, the chief executive of the Chartered Management Institute, who is well-acquainted with managers’ frustrations. She emphasizes the importance of thoughtful and intentional talent management to prevent the accumulation of “dead wood.” While your options are limited at the moment, Ann suggests requesting clear expectations from your organization’s leadership. Encourage staff to move roles every two to five years for their own development and to free up opportunities for others. It’s crucial not to overlook mediocre performance, as turning a blind eye to weak performance allows employees who are coasting to remain in their roles. Finally, don’t forget about the staff members whose careers are being hindered. Reach out to your peers and try to find challenging roles for them elsewhere in the organization. A great boss doesn’t hoard talented individuals but encourages them to seize opportunities throughout the company. Support and sponsor talented individuals to help them progress. 🌟
Have a question, problem, or dilemma for Office Therapy? Think you have better advice for our readers? Send it to me at [email protected] or as a voice note. We guarantee complete anonymity, so your boss, colleagues, or subordinates will never know.
Five top stories from the world of work 💼
1. Sarah de Lagarde’s terrifying incident on the tube: The FT’s Madison Marriage shares the story of Sarah’s accident and sheds light on the inadequate safety measures in place on London’s tube system.
2. Workplace trend: Egg freezing as a benefit for staff: Emma Jacobs explores the rising popularity of egg freezing as a workplace benefit, along with other fertility-related perks.
3. Rethinking offices: “You’re competing with the commute”: Businesses are reevaluating office spaces and making significant changes to accommodate the permanent shift towards hybrid work. Janina Conboye explores some inspiring examples.
4. The failure of Sam Bankman-Fried and FTX: The collapse of FTX is a workplace drama worth paying attention to. Discover the intricate details behind this major downfall.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
