Women In Leadership - KPMG

Confidence and risk‑takingworkshopFebruary 9, 2017

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2© 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 542160

Today’s presenter

City & State New York 40 under 40 Rising Star 2016

Marie Zimmerman KPMG Audit Partner


Now is the time for action

– Margaret Thatcher

Power is like being a lady… if you have to tell people you are, you aren’t.


Today’s agenda

Confidence and risk-taking3

Wrap‑up and close6

Breakout #1: Tale of two staffers2

Breaking the cycle and personal action commitment5

Introducing the confidence gap

Breakout #2: Getting personal about risk‑taking4

1


Do you recognize yourself?Senior women struggle with the power equation

A senior manager is asked to give up a seat on a key strategic committee…the executive says the group is just too large and he wants to keep only the most “engaged” members.

The leader of a highly profitable division is passed over for a promotion…they were viewed as not fully participating in executive meetings where you have to “shout to be heard.”

A colleague stops by after a meeting with some advice: “Stop acting like a facilitator. You need to express your own point of view”.


The path to female leadership

KPMG Women’s Leadership Survey, www.KPMG.com/WomensLeadership, June 2015

2,410 Professional working women— Working women ages 25–64— College Educated, 2‑year,

4‑year or advanced degrees— Working full‑time

604 College women— College women ages 18–24— Currently enrolled part‑time or

full‑time, pursuing 2‑year, 4‑year or advanced degrees

— Not working full‑time


Cited confidence and determination

as top characteristics of

leaders

Personally identify as being confident

today

Identify with being successful

Feel empowered today

63% 49% 36% 27%

Confidence and leadership



Percentage of women that do not feel confident asking for…


92%Sponsors

76%Access to Senior Leadership

69%A Career Path Plan

61%A Raise

79% Mentors

73%Job Opportunity Beyond Their Experience

65% A Promotion

56% New Role or Position


Why self doubt matters

“The Confidence GAP” by Katty Kay and Claire Shipman, April 2014

“Do Men Doubt Themselves? — Of course— But not with such exacting and repetitive

zeal…— And they don’t let their doubts stop them

as often as women do.”


The research is compelling


— Men overestimate performance by 30% while women underestimate by up to 30%

— Hewlett Packard Study: - Women applied for promotion ONLY

when they met 100% of the qualifications

- Men applied with 50% of necessary qualifications

— “Over qualified and over prepared women hold back while under qualified andunder prepared men Lean In.”


The confidence equationSuccess correlates with confidence as much as it does with competence. For decades, women have MISUNDERSTOOD the important laws of the professional jungle.

CONFIDENCE COMPETENCE

SUCCESS



Identifying signs of confidence— When you see someone that is confident,

what do you notice about that person?— When you see someone that lacks

confidence, what do you see?


What does confidence look like?Signs of confidence

— Expansive body language— Lower vocal tone— Steady eye contact— Tendency to speak early often and

calmly— Take a stand, not afraid to be wrong— Welcome deliberative conflict— Embrace constructive criticism— Enjoy connecting with others

Lack of confidence

— Shifting eyes— Rising voice— Slouching— Assumption of blame— Giving others all the credit— Perfectionism— Hesitant to take a stand in a

discussion— Avoid conflict— Give up too quickly


Breakout #1: A tale of two junior staffers

— Constantly pitching off‑the‑cuff ideas for new product campaigns, commenting on business strategy, sharing unsolicited opinions

— Attitude of “no problem” when ideas are shot down, corrected, or prompted for more research

— Sometimes responds with counter‑arguments directly to the boss

— A few days later, back pitching and providing an update on work

— Speaks up in front of clients, sometimes a little too much which irritates the boss

Only on the job a few months but already makes a habit of just stopping by the boss’s office

Staffer One: 23 years old

— Makes appointments to see the boss to respect busy schedules

— Always has an agenda and issues list prepared for the discussion with the boss

— Mostly quiet in meetings that involve their clients, focused on taking careful notes

— Rarely just blurts out ideas, always writes them up comprehensively with analyses of pros and cons

— Takes negative feedback hard, sometimes needs to collect himself or herself before responding

Has been on the job for several years; always prepared, very hard working, boss relies heavily on Staffer Two

Staffer Two: 25 years old


Breakout #1: A tale of two junior staffers (continued)How would you describe Staffer One’s behavior? What words would you use?

How would you describe Staffer One’s behavior? What words would you use?

How do you think the boss reacted to the differences in their behaviors?

Do you think Staffer Two would get the same reaction as Staffer One if Staffer Two adopted Staffer One’s behaviors?


Your words really matter

“Your Words Matter”, www.Salon.com, June 2012; Based on book entitled “Words Can Change Your Brain”, co‑authored by Loyola Marymount communication professor Mark Robert Waldman and Andrew Newberg, M.D., director of research at the Myrna Brind Center of Integrative Medicine at Thomas Jefferson University Hospital and Medical College.

“New science shows that brains are wired to respond to certain kinds of speech”

— Our minds are hardwired to respond favorably to certain types of speech and negatively to others

— Compassionate communication is about creating a genuine connection between you and the other person

— Research shows that the human brain can really only hold on to four things at a time,…

- So if you go on and on for five or 10 minutes, the person will only remember a very small part

Three tips to consider:(1) Try to make three positive comments for every negative

statement

(2) Avoid words with more negative connotations (aggressive, bossy)

(3) Watch for word choices or descriptors that could be construed as negative by someone (overly collaborative, or talking too much)


Make your language more assertiveHow

about…?I strongly suggest… I tend to agree.

That is absolutely right, and

here’s why…

I think maybe… My strong advice is…

I agree.I agree

completely, because…

Maybe we can…

Here is my plan… Well, what if…? I recommend…


The power of meetings— What techniques have you used or seen

others using to be more effective in meetings?

— What methods have you used or seen that have been less effective in meetings?


Tips for powerful meetings— Master the Pre‑Meeting

— Prepare to Speak, Practice Spontaneity

— Create a Buddy System of Meeting Support (may be more effective if you use a male buddy)

— Establish a No Interruption Rule

— Practice Bystander Intervention

— Speak Authoritatively with Assertive Words, Lower Vocal Tone

— Use Assertive Body Language

— Master Steady Eye Contact

— Take a Stand, Don’t Fear Being Wrong

— Pay Attention to Timing (don’t wait to speak)

— Welcome Deliberative Conflict

— Keep an Even Keel (double standard)

— Work With Your Buddy

— Support Other Women, Bring ThemInto the Conversation

— Hang Around, Don’t Bolt— Stop Obsessing Afterwards— Enjoy Connecting with Others, Go for a Beer!— Work to Get More Women in the Room Next

Time

Pre‑meeting During the meeting

Post‑meeting


Our brains can adapt


— “If we channel our talent for hard work, we can make our brains more confidence‑prone.

— What the neuroscientists call plasticity, we call hope.”


Understanding the connection between confidence and action

Research performed by Zachary Estes, a research psychologist in Milan who explored the connection between action and confidence

Natural Result of LowConfidence is INACTION

When women do take action, we have a tendency to hold ourselves backWhen we do act, even if forced, we perform at the same or better level as men

Confidence Can BeSELF‑PERPETUATING

When confidence is given a “boost”…— Women’s scores

improved dramatically— While Men’s scores

stayed about the same


Taking risks

“Take a Risk: The Odds are Better Than You Think”, Margie Warrell, Forbes June 2013

We overestimate the probability of

something going wrong

We under estimate our ability to handle the consequences

of risk

We exaggerate the consequences of

what might happen if something does

go wrong

We discount or deny the consequences of inaction and sticking

with status quo


Three questions to ask yourself


1) What would I do if I were being more courageous?

2) How will inaction impact…— Me one year from now if I do nothing— The firm’s ability to attract or retain

women3) Where is my fear of failure causing me

to…— Over‑estimate the size of risk, — Under‑estimate myself and — Hold me back from taking risks

that would serve me?

What risks are worth taking?


Breakout #2: Getting personal about risk-takingScenario #1

Think of an example where you made a

decision to take a risk (personal or business)

Scenario #2Think of an example

where you considered but did NOT take a

risk (personal or business)

Personal examples Please answer these questions

1) What was the situation?2) What thought process did you go through before

deciding to take or NOT to take the risk?3) Was the risk-taking successful or not?

OR3) What was the main reason you decided NOT to

take the risk?4) Sitting where you are today—what, if anything,

would you have done differently?


Women don’t ask

“Women Don’t Ask”, Linda Babcock, professor of Economics at Carnegie Melon University

— Studies show that women of every age group behave similarly – they don’t ask

— Negotiations are give-and-take— Women give, but they don’t take because

they don’t ask


The odds are better than you think


Take a risk

Professionals in their forties or older were asked…“If you could do your career over again, what would you have done differently?”

TakenMoreRisk

SpokenUp More

Been More Courageous

Settled Less


Breaking the cycle… Take action now!


The belief in one’s ability to succeed…is a belief that stimulates action.

Confidence

Confidence accumulates through… hard work, success, and failure too!

The Cycle

Taking action bolsters one’s belief in one’s ability to succeed.

Action


Take the “Risk challenge” todayToday

— Choose one risk today that you will take in the next 30 days.

— The risk can be personal or business for yourself or others.

— Be as specific as possible about your risk.— There must be a decent chance of failure.— Pick a “risk buddy” and tell her/him about

your challenge.

Today + 30 days

— Report back to your “risk buddy.” — Assess what happened as a result of taking the

risk—success or failure?— What did you learn from taking the risk?— Would you have done things differently?— Consider your next risk!


Food for thoughtJust say yes. Use any fear as motivation to be successful. That fear will then turn into confidence.

Adena FriedmanPresident, Nasdaq

Own your career. Don’t wait for someone to tap you on the shoulder and present an opportunity to you.

Lynne DoughtieU.S. Chairman and CEO, KPMG

Recognize when women do great work. Appreciate it. Celebrate it. Reward it.

Michelle Kydd Lee, Chief Innovation Officer, Creative Artists Agency

Make your weakness not your weakness anymore.

Stacy Lewis Top Female Pro Golfer

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© 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 542160

The KPMG name and logo are registered trademarks or trademarks of KPMG International.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Marie ZimmermanAudit PartnerAlbany, NYT: 518-427‑4674E: [email protected]

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