Refresh for the Roaring 20’s

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So here we are in a brand new decade. Are our old financial habits still serving us? Here are five ways we can spend less, save more, and live better.

Save it for a Rainy Day

Life happens. Sock some money away for unexpected events like car trouble, a dead refrigerator, or your child’s emergency room visit. I use Dave Ramsey’s advice on how much to set aside, but you may want to save more.

Goals are Good

We set S.M.A.R.T. goals for work, why not for our money? It’s good to have three: a long term goal for which it will take years to save like retirement (you may want to research IRA’s ), a medium term goal like a four week vacation driving the length of Route 66 (which could take a couple of years of saving), and a short term goal like purchasing a new laptop (which may only take a couple of months). It may be a good idea to arrange to have a percentage of our paychecks directly deposited to our savings accounts. We’re less tempted to spend money that’s a bit inaccessible. If we received a Christmas bonus, we should consider saving it toward our long or medium term goals. We won’t miss money we weren’t counting on.

Take a Picture, It Lasts Longer

Let’s get a snapshot of what our finances currently look like. Gather records like statements for investments, checking and savings accounts, and credit cards from last month. Where is all the money going? There are fixed expenses like the mortgage (or rent), loans (e.g., car, student), and utilities (e.g., gas, electricity) we have to pay every month. But to reach our savings goals, we may need to cut back on non-essentials. For example, do we use a food delivery service (Uber Eats, Grubhub, etc) a lot? Maybe it’s time to start cooking and food prepping instead. If we have debt that charges high interest (typically credit cards) we can use the money we save from not spending it on non-essentials and pay off the high-interest debt as fast as we can to save on finance charges.

I’m on the Hunt, I’m After You

Shopping online saves time, but when I’m trying to save money and the sweater I decided not to purchase keeps following me around from website to website as I check my social media (creepy, isn’t it?) begging me to buy it, it’s really hard to resist. So, I get offline and promise myself I won’t purchase the sweater (or whatever) until 48 hours have passed. If I can live without it for two days, I can probably live without it period. 

Just do it

We shouldn’t wait to begin saving until we think we can afford to put some money aside. It’s likely that day will never come. Begin saving money immediately; even if it’s just $20 a week in a savings account. By the end of a year, we’ll have $1040, a nice emergency fund.

Have you updated your savings plan for 2020? Please share it in the comments section below.

What’s Wrong With Being Confident?

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Here are a few women-in-leadership questions capturing my attention lately:

Q: In the churches I attended growing up, I was taught God created women to be men’s helpers so men are leaders and women are followers. I’m all about helping and my worldview is Biblical, but it often clashes with my ambition. I read about The Wife of Noble Character and get confused. She’s obviously a leader in the workforce, so why is it negative for women to lead?

A: You know how I love my data. Here’s a study of 19 key leadership capabilities. Women scored higher than men in 17 of the 19 capabilities, so why aren’t there more female CEO’s in America? Men assume they are competent to lead. Women assume we are not. This unconscious bias is ingrained in us and society just takes it as gospel. (See what I did there?) When hiring managers read a resume, they need to stop and think, “Based on track record, is this the right person for the job?” and avoid focusing on whether the person’s name is Joe or Joann. 

Q: American society needs strong women, but when one steps up, we tear her down. The female 2020 Democratic Presidential candidates come to mind. Why do we do that?

A: In spite of progress women have made in the workforce, society still isn’t used to confident women. To rise in an organization, women must be both likable and outspoken. That’s a difficult tightrope to walk. To be likable, women are advised to share credit for a project’s success. This waters down our contributions and gives us no accomplishment to note at promotion time. On the other hand, women who excitedly speak up in meetings to promote our ideas risk being perceived as overbearing personalities; forfeiting our chances to pitch them to the client. This is a blow both to women’s confidence and to the company’s revenue.

Q: When a woman is vocal about owning her achievement, she’s usually perceived as aggressive. What can we do to support confident women?

A: Women typically approach a job like we approached school. We found out what our teacher wanted and gave it to her. On the job, we find out what our boss wants and give it to her. Then we wait to be rewarded with higher stakes projects, a pay raise, or a promotion, but because we’re quietly working no one notices. Women need to get brave and own our contributions. Will we be judged for that? Yes. Should we let that stop us? No. Haters gonna hate whether we speak up or not. When we see a woman tooting her own horn because she achieved success through hard work, we should pick up a megaphone and amplify her because the whole organization will benefit.

We (men and women) get further together than we do on our own. Let’s look for ways to build each other up instead of trying to one up each other. We spend so much time on the job, wouldn’t it be more pleasant to work under conditions like that?

What are some ways you support confident women in the workplace? Please share your tips in the comments section.

Not Your Grandmother’s Resolution

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As we prepare to celebrate the end of 2019, (after tornadoes and a mass shooting here in Dayton, OH, we say good riddance) and prepare for 2020, we think about making New Year’s resolutions. How about instead of resolving to stop smoking or lose weight, let’s:

Treat others the way we want to be treated

For example, when I have a new project at work requiring the talents of someone from another team, I first approach the person whose talent I need and ask if he’s interested. If so, I then approach his manager and ask her permission to assign him to my project. I outline the work, the time I expect it to take, and how it will benefit both the talent and the company. Respectful communication helps us all get more work done.

Listen and learn

Let’s seek opportunities that put us in the same room with people who have different backgrounds and lifestyles than us and listen to their stories. I’ve gotten to know some excellent people by scheduling a follow-up coffee after meeting at a networking event. Seeing the world from someone else’s perspective expands our own.

Flip the script

Much like Joan Jett covering the Mary Tyler Moore Show theme, let’s do something unexpected. This takes a lot of energy. It’s easier to sit and complain about the way things are instead of leaving the break room and doing something about them. For example, if we usually wait to be asked for our ideas, let’s take initiative, write up a brief proposal, and email it to our manager.

Stop comparing

Our journeys are unique. If we compare ourselves to someone with fewer resources to make ourselves feel important, how petty is that? If we compare ourselves to someone further down the career path to make ourselves feel unimportant, how degrading is that? Let’s focus on improving our good habits one percent every day. Let’s only compare ourselves to who we were yesterday. Did we take a step toward our goals or improving our systems today? Let’s make that the bar we strive to meet.

Rise

For example, if we habitually complain about other women, why? Are we jealous? Do we think success was handed to them? Does it relieve us of the responsibility of hustle and sacrifice? Let’s stay in our lanes, assume they got where they are through hard work, and support them to advance even further. When we add value to someone’s life, the law of reciprocity kicks in and we can end up benefiting. Let’s intentionally lift each other up.

These resolutions build our self-esteem and confidence. Not only will we like ourselves more, but others will like us too, and that’s good for business. Some people light up the room when they walk in and some people light up the room when they walk out. In the new year, let’s aim to be the former.

Please share in the comments section how you resolve to stretch yourself in 2020.

This is How We Role

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Does leading people scare you? Good. It means you care. The best leaders want the people in their charge to succeed. How can you achieve that? Model learning, networking, and resilience; like these women.

Learning: Katherine Johnson

You probably know her from the movie Hidden Figures. Katherine has been a brilliant mathematician since she was 13 years old. In 1939, she was the lone female of only three black students permitted to attend the graduate program in mathematics at West Virginia University. She began work at Langley Memorial Aeronautical Laboratory in 1953, where she was the only one John Glenn trusted to calculate the trajectory of his orbital flight around the earth. She is the author/co-author of 26 research reports. She cites helping synch Project Apollo’s Lunar Lander with the moon-orbiting Command and Service Module as her most important contribution to space exploration.

You may not be a STEM rockstar like Katherine, but you can build on your strengths and use them to inspire your team. Do you like to communicate? Is your delivery clear and concise? If your colleagues’ eyes glaze over when you present in meetings, maybe it’s time for a refresher on communication best practices.

Networking: Judy Robinett

Judy is “the woman with the titanium digital Rolodex.” She’s an entrepreneur, business thought leader, author, and she was profiled in Fast Company, Huffington Post, and Forbes for her reputation as a “super connector.” Judy says quality (your level of connection with someone) beats quantity when building a powerful network and there’s a limit on how many relationships we can juggle at one time. (Spoiler alert: it’s 150.)

You may not have a titanium digital Rolodex like Judy, but you have circles of influence. Dig deeper into these relationships. Find out what networking groups one of your coworkers attends and offer to be her wingman. None of your team mates have a networking group? Identify one you’d like to attend and ask at least one colleague to join you.

Resilience: Sheryl Sandberg

Sheryl graduated from Harvard University, helped make Google a profitable company, advocates for women in business through Lean In, authored two books, and as the COO at Facebook, is one of the wealthiest women in the world. But Sheryl is criticized for preaching at working mothers to remain in the workforce (because she can afford to hire staff to work both in her office and her home), her husband died suddenly in 2015 leaving her widowed with two children, and she got blamed for Facebook’s Cambridge Analytica scandal.

You may not have to defend your decisions on a national stage like Sheryl, but you’ll face customers’ anger while you’re wounded. Dealing with unpleasant situations under difficult circumstances gives you opportunity to show your direct reports emotional intelligence in action. The next time one of your clients is upset, take a team member with you to the client’s office to talk about resolution. This earns both the client’s and team member’s respect.

A role model inspires us to set goals, gives us the tools to reach them, and celebrates us when we do. If you do that, you are both a great leader and role model.

Please share the qualities you look for in a role model in the comments section.

Tidings of Comfort and Joy

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And just like that…it’s December. Welcome to the end of the year! As we push to make our quotas, thank our customers for their business, and prepare for holiday celebrations, let’s schedule time in our calendars for play. You read me. I wrote p-l-a-y. There are plenty of opportunities this month for frivolity and we should take advantage of them for a very practical reason. Play helps us work.

Lynn Barnett, a professor of recreation, sports and tourism at the University of Illinois at Urbana-Champaign says, “At work, play has been found to speed up learning, enhance productivity and increase job satisfaction.” In this article, she also says, “Highly playful adults feel the same stressors as anyone else, but they appear to experience and react to them differently, allowing stressors to roll off more easily than those who are less playful.” In his book, Play: How it Shapes the Brain, Opens the Imagination, and Invigorates the Soul, Dr. Stuart Brown says, “Respecting our biologically programmed need for play can transform work. It can bring back excitement and newness to our job…work does not work without play.”

For example, when we concentrate on figuring out a problem, our minds can get stuck in an endless loop going over the same details. If we take a break and focus on something else, we get new data to process. Although it’s counterintuitive; the more stress we’re under, the more we need play in order to function. When we get up from our desks and move around, blood flow to our brains increases and we think better. If we walk to the break room and enter a conversation, we foster teamwork. These activities refresh our energy and can prevent burnout by letting our brains reboot and receive input that has nothing to do with our problem. We naturally apply this new data to our challenge. We start to think creatively. We stop thinking about how we’ve solved problems in the past. We stop worrying about the consequences for a minute and imagine what would happen if anything goes. This permits us to relax and look at it from another angle. The situation looks totally different if we’re standing on our heads instead of our feet. When we see something differently and present it in a new light, that’s innovation and it might just trigger a solution. Gymnastics anyone?

For play to have a positive effect on our work we should do it everyday, so we need to schedule it and give it priority. Play is an activity that has no purpose and is considered non-productive. We can do it alone or with others. Here are some examples of play that don’t necessarily cost money:

Read a book
Pet your pet
Watch your favorite artist’s concert footage on YouTube
Drive around looking at neighborhood Christmas lights
Toss a football
Crossword puzzles
Board games

George Bernard Shaw said, “We don’t stop playing because we grow old; we grow old because we stop playing.” This holiday season when kids are defined as from one to ninety-two, let’s make time to play.

Please share how you’re going to incorporate play into your seasonal celebration in the comments section.

Royal Pain

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Ever wonder what happens when a mean girl grows up? She becomes a Queen Bee (QB): a female leader insecure in her position who treats her female employees worse than she treats her male employees. Obsessed with maintaining her authority, she views other women as competitors and excludes them from high profile projects that could advance their careers. What does a QB act like? How do you deal with one? Short of a giant flyswatter, how do we eliminate QBs?

Beehavior (see what I did there?)
A QB:
  • Dismisses our ideas without discussion
  • Interrupts us mid-sentence
  • Excludes us from meetings
  • Chips away at our confidence (e.g., yells at us for not performing a task we weren’t aware we’re supposed to do)
  • Undermines us behind our backs (e.g., gossips about us to colleagues)
  • QBs are effective because they prey on unique female vulnerabilities men don’t usually think about (e.g., not smart enough, dressing inappropriately, too emotional, not committed to our careers because we’re mothers, etc.)

Until there are as many female leaders as male, freezing out the competition is an effective survival strategy.

Remove the Sting

A young woman starting out her career naturally looks around the organization for a successful mature woman to emulate. The chosen mentor may see this as competition and in the vein of keep your friends close and your enemies closer, actively subvert the younger woman’s efforts to advance her career. If we aspire to be leaders, we have to stand up for ourselves. Note instances where the QB treats us differently than our male coworkers and ask why. Let’s politely ask for details on our job performances and in what areas she’d like us to improve. When she gets mean, we’ll keep our composure and take her assessment respectfully. We’ll admire her work, tell her we want to be as good at our jobs as she is at hers, and ask her to share the secret of her success.

Extinction

In the good news department, this article says there aren’t as many QBs as we think. The assumption there is something in women’s genes that make us unable to get along with each other is a myth. QBs are the result of inequality and gender discrimination. Women protect our territory because we’re the non-dominant group, not because we’re women. As more women reach higher levels of management, being punished (e.g., low job performance ratings, not getting promoted) for promoting diversity by elevating other women, should decrease.

Learning to Fly

Women should mentor other women and publicly celebrate other women’s accomplishments. When a woman behaves like a man, let’s stop judging her so harshly. Let’s call both men and women out on the language they use to describe our female coworkers. For example, in a recent interview, Taylor Swift pointed out, “…A man does something, it’s strategic; a woman does the same thing, it’s calculated.” So let’s watch our mouths; no trash talking other women. People view us as women, not as professionals. Let’s use that bias to our advantage. Let’s embrace other women on our teams, work hard together, support each other, and deliver the goods. Let’s earn reputations for increasing revenue and giving excellent customer service. When we’re in positions to promote women, let’s do it. Let’s create a sisterhood of success. When women have each other’s backs, we all rise.

Have you ever experienced Queen Bee Syndrome at work? What did you do to change the relationship? Please share your story in the comments section.

Just Adjust

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Tenacity is when we try something, but if it doesn’t work we try different ways to achieve the same goal. Here’s why and how we should develop tenacity on the job.

Why:

Tenacity is a hard ability to train, so tenacious employees earn the respect of both their managers and peers. Workers willing to do what is necessary for the business to endure downturns are the ones who get to keep their jobs. Successful people are tenacious. Doing hard things and seeing them through to completion gives us confidence. We develop mental toughness and keep going when others quit. Most people expect Plan A to work every time, but how often does that really happen? There are 26 letters in the alphabet. Let’s be unafraid to go back to a failed Plan A and revise it to make a Plan B, Plan C, or however many letters it takes to overcome the setback. Let’s learn how to not make the same mistake twice. Making new mistakes is much more fun.

How:

  • Perceive failures as experiments: When we think we’ve spent all our energy and ideas on overcoming our obstacle, let’s give it one more try and change the input to achieve a better outcome. Often, the answer lies just beyond what we think we’re capable of.
  • Set S.M.A.R.T. goals: We’ll filter our responsibilities through them. E.g., if we want to be the team’s SME for JavaScript, how do the tasks on our daily to-do lists get us closer to that goal?
  • Identify a coworker as a friendly rival. We’ll find someone who is competing for the same promotion or the same client, etc., and use her as the bar against which we measure our work. Does she know Excel better than us? We can take an online class (many are free with a library card) to increase our knowledge. I call competing with someone who is on my team “coopetition.” (Think Group Round during Hollywood Week on American Idol). We strive to outperform this person because we admire her success. We can use this as motivational fuel to course correct when we’re struggling. This study says we succeed when our rival succeeds. We can learn from her mistakes as well as build on her successes.
  • Jim Rohn said, “You are the average of the five people you spend the most time with.” Let’s hang out with tenacious people: professional groups, friends, family, and people with our job title from other companies. We can also read biographies of tenacious people and study what they did.
  • Tenacious people are comfortable with being uncomfortable. If our fear of failure is holding us back, let’s do something about it. Let’s sift through the symptoms to get to the root. (Journaling may help us see it easier.) Then take baby steps every day to overcome it.

Tenacity comes through practice. The bad news is, this means facing adversity over and over again. The good (?!) news is, life gives us plenty of adversity to practice with.

Please share your story of how you’re developing tenacity in the comments section below.

Corporate Stockholm Syndrome is Real

Photo Credit: pixabay.com
Photo Credit: pixabay.com

While researching last week’s post, I stumbled across something I’d never heard of before: Corporate Stockholm Syndrome (CSS). It’s when an employee becomes deeply loyal to an employer who is abusive (e.g., yells at employees, expects employees to work long hours, requires employees to handle his personal errands). For a good example of this, watch the movie (or read the book), The Devil Wears Prada. Stockholm Syndrome is a phrase first coined in the 1970s to refer to a hostage who felt empathy toward her captor because even though she was abused, the captor was also the source of food, water, shelter, etc. Since a manager can also be viewed as a source of those things, when the manager is abusive, the employee experiences CSS.

1. Problems

As employees, we get a great deal of self-esteem from our jobs. This becomes problematic if our manager habitually mistreats us. An employee suffering from CSS is emotionally attached to the company and puts its needs before her own; even if that means she gets traumatized in the process. The employee is micromanaged. Her work is scrutinized and, if it displeases the manager, criticized. When she wants to advance within the company, especially to another manager’s team, her manager refuses to allow the move.

2. Symptoms

Physical: headaches, insomnia, fatigue
Mental/Emotional: fear, distrust, anger, shame, denial she’s being mistreated.
Company: the manager isolates the employee from upper management, coworkers verbally abuse each other, the company offers fringe benefits that promote loyalty to the company

3. Results

The employee is stressed out, her reputation possibly tarnished by her manager, and afraid of what will happen if she complains to Human Resources. She thinks telling someone will get back to the manager and make things worse (e.g., lose her job or not get promoted). In 2017, the Workplace Bullying Institute discovered more than 60 million employees in the US had been affected by bullying or abuse on the job. CSS is contagious. Coworkers who witness the abuse may not speak up for fear they’ll be mistreated too.

4. Solutions

It’s important to maintain healthy relationships outside of the office. Get a reality check from one of yours. Ask, “Do you see this happening?” “Is this normal?” If you’re a victim of CSS, it’s unlikely you’ll be able to change your manager’s behavior. Your best alternative is to get a new job. (That sentence makes it sound easy. I know it’s not.) Look for a company that rewards supervisors for promoting high performers. While you’re searching, take time to heal. Write down your achievements. Seek validation and encouragement from friends and family. Consider visiting a psychologist who does cognitive behavioral therapy to undo the thinking patterns created by the abuse. Be good to yourself outside of work: exercise, use a meditation app, plan something to look forward to (e.g., a concert, a vacation, the next five books you want to read). Be as good to yourself as you would be to a friend who is going through these circumstances.

Have you ever been the victim of CSS? Please share your story in the comments section below.

Balancing Act

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During a conference I attended last week, we did a networking exercise similar to the Reciprocity Ring Adam Grant uses in his classes at Wharton. Most of us requested referrals, but one woman asked for tips on work-life balance. I admired her courage. We usually act like we either have it all together or wear burnout like a badge of honor. I promised to do some research. Here’s what I found.

Contributing Factors to Work-life Imbalance:
1. Household Chores

Women do more household chores than men no matter what their age, income level, workforce responsibilities, or if there are children to parent. If you’re tired of carrying the bulk of the homework, talk to your partner about traditional gender roles and work out a fair division of labor.

2. Working Remotely

If you don’t have to be on-site to do your job, working from home allows flexibility but also usually means working longer and odd hours and sets the expectation from your boss that it’s acceptable. American wages are about the same today as they were 40 years ago. Technology has produced knowledge workers, but businesses have yet to figure out how to measure their productivity. We’re still measuring it by hours on time sheets and presence in the office. So if you work remotely, you feel you have to be connected 24/7 to demonstrate productivity.

3. Your Mate’s Schedule

Women partnered to men who work long hours (50 or more per week) have significantly higher perceived stress and significantly lower work-life balance than women partnered to men who work a normal full-time week (35–49 hours).

Possible Solutions:
1. Flip the Script

Stop thinking of work as negative and home as positive. There’s nothing wrong with loving your job. It’s just that too much of a good thing still causes burnout. Alternate work schedules are becoming more common. Can you choose a schedule that allows you to balance home and work? You have to set and protect boundaries, but you would control them.

2. Embrace the Imbalance

Using time-saving hacks aren’t working any more. Imbalance is a challenge for a household where both people have jobs and no one has the exclusive responsibility to manage the home. Give each other some grace. Communicate when you have an impending work deadline signaling that your chores at home will have to wait. On the other hand, let your colleague know you will answer his email after you get home from your daughter’s basketball game.

3. Leadership

If the organization’s leaders don’t practice work-life balance, e.g., emailing at 9:00PM, calling into meetings from vacation, etc., then employees will follow suit because it shows dedication and may lead to promotion. Managers should model the behavior the company wants cultivated. Supervisors should take a lunch hour, go on vacation, and leave the office for the day at a reasonable hour. Then they should talk openly about doing all those things with their teams and encourage them to do the same.

How do you balance work with your personal life? Please share your story in the comments section below.

Workforce 2.0

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If you had twins, a boy and a girl, who started kindergarten this year, they’ll graduate high school in 2032. Being the forward thinker you are, what skills should you teach now to prepare them to join the workforce? Should you teach your daughter the same skills as your son? I found five skills that give both boys and girls a head start in the workforce.

1. Social skills

The social skills children learn in kindergarten can determine whether they end up in the workforce or prison. (No pressure, Mom and Dad.) Model the behavior you want them to exhibit (e.g., control yourself when you’re angry). To develop social skills, they have to be around their peers. Arrange play dates, take them to story time at the library, put them in children’s programs at your church. Sometimes you need to be present to observe and correct their behavior, and sometimes you need to be absent so they can test what they’ve learned.

2. Chores

Ask them to empty smaller waste cans throughout your house into your kitchen trashcan then have them accompany you when taking it out. When they’re older, they can assume the whole process. The same applies to cleaning their rooms, doing laundry, emptying the dishwasher, etc. When they help you, they get used to collaborating which is a skill they’ll need for future group projects in school, playing team sports, and eventually on the job. It’s helpful to praise their efforts and not their outcomes (e.g., first praise them for putting their plates in the dishwasher, then ask them to rinse them first next time). This instills a growth mindset which is crucial for success in the workforce.

3. Communication

Teach them how to translate emotions into words instead of acting out (e.g., Your child throws a toy because he’s frustrated. Ask him why he threw the toy, then help him find the words to express the emotion.). You also want to teach fundamental skills like making eye contact, saying please, thank you, and sorry, and listening without interrupting.

4. Decision Making

Let them choose what clothes to wear. If she wants you to decide for her, pull out two or three outfits and have her choose one. Let them choose their friends. Only intervene if the friend is a bad influence (e.g., a bully). Don’t snowplow parent. Prepare your child for the road; don’t prepare the road for your child (e.g., Did she leave her reading book at home? Don’t take it to school for her.).

5. How to Fail

Creative problem solving and critical thinking are the top two skills employers want. When they’re about to have a non-catastrophic fail, let it happen. Then frame it as a learning opportunity. Help them figure out why they failed and what they can do to prevent failing that same way next time (e.g., You’ve told him three times to put his dirty clothes in his laundry basket. He left his favorite shirt on the floor and now he wants to wear it to school, but can’t because it has a stain on it. Help him figure out a trigger he can create to remind himself to put that shirt in his laundry basket.).

Do you agree with this list? What skills do you think the workforce of 2032 will need? Please share in the comments section below.