tasks like getting coffee or taking care of the office
environment. To personal assistants, who might find
some of those tasks unavoidable, I emphasized that they
could talk to me about any issues in the workplace, that
their roles were critical, and that they should be treated
with respect. The lunches were essential, providing
a dedicated space to share challenges and successes.
Coming together as a group made people realize that
their problems weren’t just specific to them, but in fact
were collective obstacles. All of this vastly improved the
flow of information, and relieved tension and anxiety. It
reassured us that though our jobs were challenging, we
were not alone. In doing so, I hope it lowered the attrition
rate of women working at my company — rates that are,
across all corporate jobs, stubbornly higher for women
than men, especially women of color.
My own daughter has arrived to a workplace that has
not changed nearly as much as I had hoped — although
40% of Big Four accounting firm employees are women,
they make up only 19% of audit partners. Only one in
five C-suite members is a woman, and they are still less
likely than their male peers to report that there are equal
opportunities for advancement.
So, what are women in the workplace to do, when research
shows that we’re penalized for trying to lift each other up?
The antidote to being penalized for sponsoring women
may just be to do it more — and to do it vocally, loudly,
and proudly — until we’re able to change perceptions.
There are massive benefits for the individual and the
organization when women support each other.
The advantages of sponsorship for protégés may be
clear, such as access to opportunities and having
their achievements brought to the attention of senior
management, but sponsors gain as well, by becoming
known as cultivators of talent and as leaders. Importantly,
organizations that welcome such sponsorship benefit
too — creating a culture of support, and where talent is
recognized and rewarded for all employees.
Program Success 27 May 2020
Sponsorship (which involves connecting a protégé with
opportunities and contacts and advocating on their
behalf, as opposed to the more advice-focused role of
mentorship) is also an excellent way for men to be allies
at work.
But there’s still so much work that needs to be done. I’m
thrilled by the rise of women’s organizations like Sallie
Krawchek’s Ellevate Network, a professional network of
women supporting each other across companies to change
the culture of business at large. (I’m especially fond of it
because it began as “85 Broads,” a network of Goldman
alumnae that drew its name from the old GS headquarters
address before Krawcheck, a Merrill alumna, bought and
expanded it.) That network spawned a sibling, Ellevest,
an investment firm focused on women and companies
that advance women. Other ventures include Dee Poku-
Spalding’s WIE networks (Women Inspiration and
Enterprise), a leadership network whose mission is to
support women in their career ambitions by providing real
world learning via access to established business leaders. I
am attempting to make my own dent in this area, having
endowed the McNulty Institute for Women’s Leadership
at my alma mater, Villanova, which supports new research
and leadership development opportunities for women.
These are wonderful supplements, but they can’t replace
the benefits of and the necessity for connections among
women inside a company — at and across all levels. It
reduces the feeling of competition for an imaginary
quota at the top. It helps other women realize, “Oh, it’s
not just me” — a revelation that can change the course
of a women’s career. It’s also an indispensable way of
identifying bad actors and systemic problems within the
company. It need not be a massive program, and you don’t
need to overthink it — in fact, there’s a healthy debate
about affinity groups run from the top down. Whether
you are a first-year employee or a manager, just reach out
and make those connections. I’m guessing you’ll find that
the return on investment on the cost of a group lunch will
be staggering.
Anne Welsh McNulty is the co-founder and managing
partner of JBK Partners, with businesses including
investment management and a private philanthropy,
the McNulty Foundation, which focuses on leadership
development and social change. Previously, Anne was a
Managing Director of Goldman Sachs and a senior executive
of the Goldman Sachs Hedge Fund Strategies Group.