Harvard Business Review

It's great to see companies creating reentry programs, particularly in this economic environment. It shows real commitment and says something about how they value their employees. I just featured another Returnship program being started at Sara Lee Corporation on www.newsonwomen.com. If you know of any others, let me know and I will post about them as well. The more people hear about these programs the more likely it is that others will follow.
Alice Krause
NewsonWomen.com

The innovative strategies being employed by Merrill Lynch, Goldman Sachs and Bank of America are great examples of how businesses, with a little creativity and forward-thinking, can thrive in a faltering economy. While the success of these programs is yet to be seen over the long-term, such techniques can positively impact a company’s “employer brand” almost immediately and as a result, attract and retain top talent.

It’s well-known that establishing a positive brand connection with the consumer undoubtedly creates bottom-line success, however, as stated in a 2007 Emory University report, “It’s a lesser known fact that companies with a high rating from both the consumers and their employees double that return…If you can get the employees on board, what amazing business results you can have.”

Ensuring a positive reputation and employer brand can be a way of creating a unique and attractive identity with which current or potential employees can identify. Therefore the employer brand becomes a significant aid in the battle to win and retain talent. During a period when companies cannot afford to lose high-potential current or potential employees, initiatives aimed at strengthening employer branding should be viewed as an economic imperative. It seems as though the companies featured in this article are ahead of the curve.

As an executive search firm that focuses on the recruitment and retention of high-caliber diverse senior executives, Bridge Partners LLC published a discussion of employer branding and retention in 2008, which is available on our website (http://www.bridgepartnersllc.com). We work closely with clients in the corporate, academic and public sectors to support their initiatives to diversify their leadership teams, and therefore understand the challenges faced by organizations trying to thrive during perilous economic times.

Many times when we think about diversity, we immediately think of things like cultural, racial, and gender diversity. However, the true essence of diversity lies in the innovation and difference of ideas that diverse individuals can provide. The initiatives dicussed above only further the argument that a focus on diveristy leads to future growth, innovation, and creativity.

It is very refreshing to see companies such as Merrill Lynch, Bank of America, and Goldman Sachs providing programs and opportunities to women who have taken a break from their careers, but wish to to return (particularly in the financial sector).

Although the gender gap in influential leadership positions remains clearly visible, there is great evidence (from programs such as these) that this disparity is beginning to erode. Many of us have heard of the phrase "glass ceiling" (pertaining to women) and "glass elevator" (pertaining to men). Understanding the obstacles preventing women re-entering the workplace is key, and I believe these three companies have successfully targeted those obstacles --networking, strengthening skill sets, and other essential tools that women who have left the business arena may be somewhat "rusty" in (although they may be very talented people). I particularly like Goldman's program. Although they do not promise jobs to those who finish the program, they provide an opportunity for women to demonstrate their ability either in a field they used to be active in, or in a field they want to transition to.

Certainly more companies should follow B of A, Goldman, and Merrill's lead with programs such as these.

It is very refreshing to see companies such as Merrill Lynch, Bank of America, and Goldman Sachs providing programs and opportunities to women who have taken a break from their careers, but wish to to return (particularly in the financial sector).

Although the gender gap in influential leadership positions remains clearly visible, there is great evidence (from programs such as these) that this disparity is beginning to erode. Many of us have heard of the phrase "glass ceiling" (pertaining to women) and "glass elevator" (pertaining to men). Understanding the obstacles preventing women re-entering the workplace is key, and I believe these three companies have successfully targeted those obstacles --networking, strengthening skill sets, and other essential tools that women who have left the business arena may be somewhat "rusty" in (although they may be very talented people). I particularly like Goldman's program. Although they do not promise jobs to those who finish the program, they provide an opportunity for women to demonstrate their ability either in a field they used to be active in, or in a field they want to transition to.

Certainly more companies should follow B of A, Goldman, and Merrill's lead with programs such as these.

It is very refreshing to see companies such as Merrill Lynch, Bank of America, and Goldman Sachs providing programs and opportunities to women who have taken a break from their careers, but wish to to return (particularly in the financial sector).

Although the gender gap in influential leadership positions remains clearly visible, there is great evidence (from programs such as these) that this disparity is beginning to erode. Many of us have heard of the phrase "glass ceiling" (pertaining to women) and "glass elevator" (pertaining to men). Understanding the obstacles preventing women re-entering the workplace is key, and I believe these three companies have successfully targeted those obstacles --networking, strengthening skill sets, and other essential tools that women who have left the business arena may be somewhat "rusty" in (although they may be very talented people). I particularly like Goldman's program. Although they do not promise jobs to those who finish the program, they provide an opportunity for women to demonstrate their ability either in a field they used to be active in, or in a field they want to transition to.

Certainly more companies should follow B of A, Goldman, and Merrill's lead with programs such as these.

It is very refreshing to see companies such as Merrill Lynch, Bank of America, and Goldman Sachs providing programs and opportunities to women who have taken a break from their careers, but wish to to return (particularly in the financial sector).

Although the gender gap in influential leadership positions remains clearly visible, there is great evidence (from programs such as these) that this disparity is beginning to erode. Many of us have heard of the phrase "glass ceiling" (pertaining to women) and "glass elevator" (pertaining to men). Understanding the obstacles preventing women re-entering the workplace is key, and I believe these three companies have successfully targeted those obstacles --networking, strengthening skill sets, and other essential tools that women who have left the business arena may be somewhat "rusty" in (although they may be very talented people). I particularly like Goldman's program. Although they do not promise jobs to those who finish the program, they provide an opportunity for women to demonstrate their ability either in a field they used to be active in, or in a field they want to transition to.

Certainly more companies should follow B of A, Goldman, and Merrill's lead with programs such as these.

It is very refreshing to see companies such as Merrill Lynch, Bank of America, and Goldman Sachs providing programs and opportunities to women who have taken a break from their careers, but wish to to return (particularly in the financial sector).

Although the gender gap in influential leadership positions remains clearly visible, there is great evidence (from programs such as these) that this disparity is beginning to erode. Many of us have heard of the phrase "glass ceiling" (pertaining to women) and "glass elevator" (pertaining to men). Understanding the obstacles preventing women re-entering the workplace is key, and I believe these three companies have successfully targeted those obstacles --networking, strengthening skill sets, and other essential tools that women who have left the business arena may be somewhat "rusty" in (although they may be very talented people). I particularly like Goldman's program. Although they do not promise jobs to those who finish the program, they provide an opportunity for women to demonstrate their ability either in a field they used to be active in, or in a field they want to transition to.

Certainly more companies should follow B of A, Goldman, and Merrill's lead with programs such as these.

It is very refreshing to see companies such as Merrill Lynch, Bank of America, and Goldman Sachs providing programs and opportunities to women who have taken a break from their careers, but wish to to return (particularly in the financial sector).

Although the gender gap in influential leadership positions remains clearly visible, there is great evidence (from programs such as these) that this disparity is beginning to erode. Many of us have heard of the phrase "glass ceiling" (pertaining to women) and "glass elevator" (pertaining to men). Understanding the obstacles preventing women re-entering the workplace is key, and I believe these three companies have successfully targeted those obstacles --networking, strengthening skill sets, and other essential tools that women who have left the business arena may be somewhat "rusty" in (although they may be very talented people). I particularly like Goldman's program. Although they do not promise jobs to those who finish the program, they provide an opportunity for women to demonstrate their ability either in a field they used to be active in, or in a field they want to transition to.

Certainly more companies should follow B of A, Goldman, and Merrill's lead with programs such as these.

Great piece. I was completely unaware that these types of programs existed and it is very exciting to see that they do. It is incredibly important to have women in leadership roles and doing so would greatly benefit any organization. Peter Northouse even states that women "who take time off from their careers often find reentry difficult and often enter at a lower level than when they left, making it much more difficult to rise in the leadership ranks". Additionally he believes that any differenc in the way women lead from the way men lead should not give them a disadvantage.

I am very impressed by these programs like Greater Returns and Returnship. It is comforting to know that major companies care about developing female talent and helping them break through the glass ceiling that has prevented many women from reaching senior level positions in companies. These initiatives may help remove stereotypes that some men have concerning women's role in a company. From an article by Catalyst, I learned that women find themselves in 3 primary predicaments due to stereotypes. If they behave in a manner corresponding to their stereotype (i.e. supportive/relationship-oriented), they are seen as "too soft." However, acting in the opposite way (more confrontational) causes others to view them as "too tough." Another problem women face is having higher standards and gaining less benefits than men. Thirdly, women suffer from the problem of being disliked and viewed as having poor interpersonal skills when they act assertively. With more respect for women as leaders in the business world, maybe stereotypes will begin to fade and these predicaments will disappear. I believe that these programs are a step in the right direction.

~HA