Womenomics

by Claire Shipman and Katty Kay (2009)

I first reviewed this book for this ezine in 2007 and recently picked it up again to see how the lessons outlined would apply to the current business environment. I found it worth visiting again, this time with a different perspective on business assumptions.

While the title of this book might sound like a post-feminist tome on the economic power of women in the work place, it is much more than that. The authors do remind us that women have taken their place in the ranks of successful business executives and professionals; they also show how men and children share the interests of women for a balanced perspective of life, career, family, company and community as well.

We all-businesswomen and men-are starving for the precious resource of time. It has become the new currency as we work in a global economy, moving at a fast pace.

The Business Need for Talent
Women have joined the executive and professional ranks in the past four decades in numbers previously unseen, and bring a new style of conducting business, one that has shown its merits in several research studies. This style creates greater inclusion, encourages more participation and nurtures subordinates, factors that build a sustainable business advantage.

Companies require smart, technologically literate, globally astute and operationally agile talent to compete. Baby boomers currently make up about one-third of the American labor force and they are beginning to retire, even in the midst of the recession. By 2012, there will be six-million fewer college graduates to cover the job growth and positions vacated by retiring baby boomers. "...economist agree that the demand for top-end, smart workers will still outstrip supply." (page 15) The talent shortage creates the opportunity for more flexibility in work schedules and career paths.

What We Really Want
The authors cite several research studies showing that professional women are unwilling to take on ever-increasing responsibility without some accommodation for a greater life-work balance. (pages 27-32) Three-quarters of us want flexible work options.

In a two-year study of seven blue chip firms, businesses that allowed employees to work on alternative schedules found that their productivity increased and they were more committed and satisfied; the companies were more competitive because their workforce was more engaged, having found work that satisfies them intellectually and leaves time to lead a fulfilling personal life.

Redefining Success
The right balance begins with a clear definition of success, not the one from the media or the corporation, but the one that comes from the inside out. Shipman and Kay offer several thinking exercises to arrive at a specific, detailed and personal definition of success and to recognize when ego is clouding our thinking.

Considerations for success include pay, status, image as a team player (or not) and being accepted by coworkers. At different times of our lives, each of these factors carries a different weight in redefining success.

Guilt and Saying No
"Because we are so empathetic and connected, we're also hyperaware of what could be or should be or what might have been or should have been or who could be feeling what and-of course-why it's all our fault." (page 81) The neural wiring in the female brain that supports empathy and connectedness can generate the negative emotion of guilt. Recognize your most common guilt trips and stop them early on, before they spin out of control. Change your internal soundtrack, shifting into a positive mode, thinking about your accomplishments rather than your deficits.

This may sound familiar: "When we are so eager to please everyone and avoid people being cross with us, we end up saying yes to a lot of things we don't really want." (page 91) Successful people choose to say 'yes' to strategic or value-added work, not everything that comes along. Setting boundaries also makes you appear organized, confident and professional.

Work Smarter not Harder
Time and energy are finite resources to be used for maximum effect. The key to this strategy is finding and developing ways to get greater returns on the investment of time, to challenging the assumption that productivity should be measured by time on a clock rather than results achieved.

Evaluate the demands on your time in terms of the impact expected from the investment of time. Recognize which tasks, projects and commitments will move you toward your and your company's goal for the month and the year ahead. This future prospective raises you above the minutia of the moment to see what will move the business forward.

Take control of your schedule; determine your deadlines for yourself as much as possible and be honest about how much time tasks and projects will take. Use technology to your advantage, checking email regularly but not obsessively, enjoying mealtimes without your PDA or cell phone.

Take your vacation. Many studies confirm that you are more effective and productive when you have recharged your batteries. You will think better, feel better and work better, when you take your vacation. The benefits will also accrue in your personal life, as you are better in your important relationships when you are refreshed and thinking clearly.

Getting to Flexible Time
As with any business decision, your request for greater flexibility in your work life must be based on solid reasoning and demonstrated performance. Know the performance metrics that will prove your results and present them objectively.

Know what you want your work life to look like. Do you want to work fewer hours? Do you want to work out of the office part of the time? Do you want to plan your workday around family needs and spend the usual after-hours time completing work projects?

When you have attained flexibility in your work schedule, be sure to continue your strong performance and communicate prolifically. Face-time is important in business; maintain the level necessary to continue to be seen as an asset to the company and an engaged member of the team.



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