August 28, 2020
How to be Job Promotion Worthy
It happened again. He got the job promotion. You didn’t. Even though you know you worked just as hard – even harder – and were equally qualified.
If this has happened to you, just know that I don’t bring up this painful experience so you can re-live that anger and frustration again. As a woman in the financial services industry, I’ve lived it and seen it happen to other women.
It hurts in the worst way. It makes you question your abilities. You worry whether you’ll ever get anywhere in your career. You wonder – was it gender discrimination that made you lose out on that job promotion or was there something else going on?
Deep breath. Let’s take stock.
Cracks in the glass ceiling?
Sadly, we can’t avoid the reality that women are still at a disadvantage in the workplace. The findings of a recent 5-year study conducted by McKinsey & Company and LeanIn.Org showed that women continue to be underrepresented at all levels of business.
The biggest issues: Companies need to fix the “broken rung” on the ladder for women who want to advance from staff to first-level management positions. Companies also need to work harder at creating a workplace culture that values equality and diversity.
But good things are happening, too. The report states that more women are rising to top levels in organizations. As of 2019, 44 percent of the 529 companies included in the study have three or more women in executive-level positions, up from 29 percent in 2015.
As I see it, this means two things: First, there is a rapidly growing awareness today of the inequity women are facing in the workplace, and companies are being challenged to confront and correct the problem. Second, women are actually gaining more power to control their careers.
I know what it’s like to not be in control.
Take possession of your power
I entered the financial services industry more than 20 years ago. While I had a wonderful female mentor in my first job (I had no idea how rare that was and how lucky I was!), I watched during the next 15 years as the men around me were groomed for job promotions and moved ahead into leadership roles.
When a partnership opportunity was presented to me, it was an effort to keep my excitement under control and do my due diligence before taking the leap. However, leap I did and, despite best efforts, the partnership (which in reality positioned me as second-in-command) eventually ended in not the best way.
That ending was a new beginning for me: the moment I decided to take full possession of my power and start my own financial services company.
Was I done playing small? Absolutely. Was I scared? You betcha. The shift from “employee” or even “partner” to “owner/president” is huge. But I knew in my gut that I had what it takes to succeed in that role.
The way forward
Today as a woman in the financial services industry you have more control than you think over the trajectory of your financial services career and job promotions, but to leverage that control you need to look deep inside and answer some hard questions.
If your goal is to advance in your career (but you don’t want to open your own shop – yet), you need to take an objective look at what are you are doing today in your role.
Answer these questions truthfully and consider how your responses position you for your next job promotion…
- Do you have a mentor? If so, does that person have organizational clout? (A mentor at a more senior level is going to help you advance more quickly.)
- Do you have a sponsor? (Do you know the difference between a mentor and a sponsor?)
- Are you asking for and doing work that is promotion-worthy? (Your focus should be on revenue-generating work rather than only office housekeeping tasks.)
- Can you build a compelling case for a promotion? (Maintaining a running list of achievements that are tied to business results throughout the year makes this easier.)
Are you self-promoting and “visible” to management in ways that show you create value? (Speak up and communicate your ideas and accomplishments.)
What’s good for women is good for business
As women, we have a tendency to downplay what we do and how well we do it. We’re used to spotting a problem, coming up with a solution, and fixing it without fanfare. I know I did this for way too long, and it wasn’t until I got serious about my career that I knew I had to change that approach. My best (and usually my only) advocate was myself. As the saying goes: no one cares about your career as much as you do.
The truth is that we offer so many unique and crucial qualities as women in business, especially as leaders: empathy, emotional intelligence, productivity, collaboration, flexibility, communication, encouragement… I could go on and on. What we bring to work is good for our workplace.
If you envision bigger and better things on your career horizon, bring your best and let it shine. With every step, you will move closer to where you are meant to be.
Have questions about how you can succeed in your business and accelerate your journey toward reaching your goals? I invite you to learn more about ELEVATE, an exclusive group coaching program specifically designed to help female financial advisors. Start with a no-cost 30-minute consultation to discuss where you are in your career and where you want to go.
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