“We recognize that there are millions of L-women across Europe and globally as well, with many of them active in the labor market. From that perspective we should have a huge influence on the workplace, yet generally we have not been in a position to do that,” began Claudia Woody, Vice President & Managing Director at IBM.

Woody is part of L-Women at Work, a new group to help lesbian, bisexual and transgender women across Europe connect professionally.

The new group’s first event will take place in November, with IBM as its presenting sponsor. Woody explained, “From an  IBM standpoint, for years we have been supporting various Lesbian groups in Europe, but we have been looking for a pan-European group, to share best practices, create business networks, and articulate the business proposition around lesbians in business.”

Woody explained that many lesbian professionals see a “double glazed glass ceiling” but, she said, that needn’t be the case. “A lot of us can hide, and do – and a lot of us are reluctant to put our hands up and say ‘discriminate against me again,’” she explained.

“We have to give that power back to Lesbian women. It means having the energy to do your work, to be authentic, and not spend energy on hiding who you are. You can do this. You can succeed. Being Lesbian is not a barrier to success.”

Competitive Advantages

Woody said that while being different makes many L-women feel that they are at a disadvantage, they should be mindful that they present advantages to employers as well. “You can look at both sides of the coin. You can see the advantages as well.”

For example, Woody recounted how, after coming out, she began to be given more interesting assignments – including traveling with her (male) boss – because, he said, his wife was not threatened by her.

“Being strong, and being able to claim that power back is one of the things we can do,” she said.  Another advantage, she continued, is having more time to spend on the job. “Many of us don’t have kids or husbands to take care of. We tend to have spouses who are working just as hard as we are.”

Finally, she said, “We’re also able to side step some of those stereotypical conversations around office politics.”

Coming out at work can engender respect. “It shows courage,” she said.  “People respect courage and authenticity and teams function better when that level of trust exists because people are honest about who they are.”

She added, “Corporations also need to recognize that there is a business advantage. It’s about talent, and creating an environment where women – gay or straight – can succeed.”

Woody continued, “If you lump LGBT together, you miss the diversity in the acronym.” “From a company standpoint, diversity means talent, innovation, and accessing different ways of thinking and being. It’s about creating an environment that lets everybody bring the best they have to the table every day.”

The L-Women at Work Conference

The conference will take place on November 11th in Amsterdam. According to Woody, the event will be organized in the TED format, with several key note speakers, and then attendees have been invited to apply to speak on set topics including role models, entrepreneurship, generations, networking and more.

Other corporate sponsors of the event include Accenture, Ernst & Young, and Citi.

Woody added that the organizers are encouraging attendees to participate in social networking opportunities in order to span generations and borders.

It’s sad, but true. Summer is nearly over. The heat has broken, vacation is over, and the kids are going back to school. You’ll probably be seeing more of your colleagues around the office, and as folks get back into the swing of things, you’re starting to feel more of the buzzing energy that goes along with the beginning of fall – the last push for business before everyone begins to disappear again for the holidays.

That means these next few months are crucial times to reconnect with folks in your field, new potential clients, and those contacts you made last spring. It’s time to make your own autumn resolution: make fall the season to follow up. Here are three ways to reconnect – and a little follow-up homework – for you to do this month.

1. Network Up, Down, and Around

We all know we have to build our network – it’s the key to gaining new insights and learning about new opportunities. Connecting with colleagues is important, but according to a study published in the Harvard Business Review, networking laterally isn’t enough. The article authors, Rob Cross, associate professor at the University of Virginia and Robert Thomas, executive director of the Accenture Institute for High Performance, write:

“The executives who consistently rank in the top 20% of their companies in both performance and well-being have diverse but select networks… made up of high-quality relationships with people who come from several different spheres and from up and down the corporate hierarchy.”

They explain that it’s not about the number of connections you have up, down, and around different parts of the industry – what’s important is that your network is diverse and that your connections are meaningful. That means going beyond knowing someone’s name, title, and what their business card looks like, but really knowing their unique skills.

Action item: Identify two people in your company you’d like to know better. Identify two people outside of your company as well. Make sure one of these four people is junior and one of them is more senior than you. Meet them for coffee.

2. Make Some Community Connections

Recently, Kim Bozzella, Group Head of Technology Americas, UBS, told us: “We’re heavily into sports. While we work a lot, it’s an opportunity to spend quality time with our children and connect with the folks in the community.”

In fact, we’ve profiled hundreds of women on The Glass Hammer – and a good portion of them have mentioned the importance of connecting with individuals in their community. Whether it’s participating in community theater or attending little league games, women have sung the virtues of connecting with people completely outside the workplace.

You never know who that next innovative idea will come from – and channeling your passion through an out-of-work outlet is a great way to find it.

Action item: Get out there! Who’s one person you’ve met outside work in the past 6 months? Call them up and do coffee.

3. Tag Along

There are professional organizations dedicated to just about every industry, sector, and subsector. Perhaps you’re a member of one already. Certainly you have a well-networked colleague who is. Next time she mentions a meeting or panel discussion she’s attending, politely ask if you could join her.

You’ll make new connections, strengthen the relationship you have with your co-worker already, and perhaps learn some things along the way. But of course, don’t forget to reconnect with the folks you meet there. Networking is more than collecting business cards – it’s the follow-up that counts.

Action item: Identify an interesting colleague who always seems to be off to a new and interesting meeting. Ask if her group is looking for new members, and how you can get involved.

For many people, networking is on par with dental extractions when it comes to their list of favorite activities. For example, a friend of mine confided in me her horror about an upcoming corporate retreat for new hires, including an team-building adventure course and “trust falls.” Networking is often a painful experience, and the prospect of having to “fall” into the arms of a stranger – and then make small talk with him – only compounded her apprehension.

Perhaps this dread helps explain why so many people at networking events suddenly turn into pitch-men (and women), attempting to sell, sell, sell to anyone who will listen – and why an equal number suddenly sprint to the bar for a refreshment in response to a particularly unctuous pitch. But the uncertainty doesn’t stop there. At a panel event, for example, the question of whether or not to approach the speaker afterward gnaws at your brain. Common wisdom says to do these things often, yet so few people know how to do them well.

But then, of course, there are those confident types who seem to work a room effortlessly. Gold dust falls from their eyelashes as they confidently shake hands with strangers without even a hint of sweat in the pits of their perfectly starched shirts. She will come home with C-level business cards and action plans. She will get buckets of referrals. What is the secret to such networking prowess?

Community and Connection

Countless business books encourage the creation of a personal brand. While a focus on unique characteristics is certainly interesting, this marketing-speak can seem a bit ambiguous, verging on narcissism or strange forms of competition. Although it can be tempting to treat people like products and consumers, the fact is, networking is better approached through a lens of community and connection. This viewpoint fosters genuine mentorship, understanding, and the kinds of ties that could reap mutual life-long benefits.

Perhaps the best way to think about networking is building “social capital.” In the American Journal of Sociology, James S. Coleman writes, “Like other forms of capital, social capital is productive, making possible the achievement of certain ends that would not be attainable in its absence.”

Taken too far, this concept might lend itself to a form of social competition that proves counter-productive to the goals of individual networking sessions. Yet, social capital is a useful term to signify the big picture of networking activities – building a productive community. With this goal in mind, the intrepid networker is almost ready for the event. Now, some guidance on how to accomplish a positive networking interaction is in order.

Five Expert Tips

What we need is practical, expert advice from someone gifted with the networking touch. Fortunately, Dr. Sandra Hagevik, Senior Vice President at Lee Hecht Harrison, has provided some useful, easy-to-follow advice. In the journal of Journal of Environmental Health, she wrote:

1. Sharing of expertise and influence is always appreciated. People who use this approach have more to give than to get, and their willingness to share conveys competence and capability.

2. Concern with confidentiality is important. People who respect confidentiality regard others’ privacy as they would their own. They share resources judiciously and always ask permission when referring.

3. Excellent listening is an effective way to network. People who use this approach spend twice as much time listening as talking; their purpose is learning rather than leading the conversation.

4. Have a purpose. Even if it’s just to catch up on your last conversation. Know what you want from the conversation. Always ask about others with whom you might communicate. Ask for permission to use your contact’s name. Then acknowledge them in ongoing contacts.

5. Limit your conversation. Nothing’s as annoying as one who tells too much. Tell little and reap the benefits of time and careful thought.

Sure, easier said than done. But you’ll never know until you try. Get thee to an event and let the schmoozing begin!

What’s the next emerging industry? Women, according to the panelists at last week’s New York Women of ALPFA Summit held at Goldman Sachs.

In a discussion that spanned small businesses, emerging economies, sustainability, alternative investments, and more, the panelists explained how women are the key to unlocking greater economic growth.

Moderated by Theresa Torres, Director for Diversity and Employee Experience for Verizon Communications, the panel included Elizabeth I. Diep, CPA, Senior Manager at PwC; Erika Karp, MD and Head of Global Sector Research at UBS Investment Bank; Heather M. Kellett, Global Director of Operations at KPMG; Silvina Nunez, Senior Business Manager at JPMorgan Chase; and Maria Otero, Esq., Founder and President of the Women’s Venture Fund.

The Value of Women Leaders

Otero began, “Research on women shows some characteristics [about women] are universal. If you invest in women you see improvement in that community more rapidly than if you take a gender neutral approach.”

Investing in women has a multiplier effect, Otero explained. When women see other women leaders, they are encouraged to “dream big.”

In a discussion of sustainability, Karp explained that we are living in a time of unprecedented resource constraint. “Capital scarcity is not just financial, but human,” she said. “This is a huge opportunity.”

Karp mentioned an assertion made by Beth Brook, Global Vice Chairman at Ernst & Young. “She termed women as the worlds largest emerging market.”

“We can’t be responsible investors, economists, or strategists with out thinking about sustainability,” Karp said. And that means investing in women. “Yes, it is an economic imperative, but we need accountability at the highest levels.”

Unique Skills

And in today’s global marketplace, that mean’s understanding and working to improve the attraction and retention of women across cultures.

Nunez, who hails from Argentina, explained, “When you look at Latin America, due to cultural issues, it’s very male dominated.” She continued, “But I think the world is changing. I have seen notable improvement in the last ten years. I think organizations are supporting and giving women tools they didn’t have before.”

“I am starting to use those tools.”

In many cases, using those tools can lead to uncertainty. For example, Torres said, “Asking about flexible work arrangements can be a risk as well.”

But that’s no reason to avoid a job you love, even if traditionally there haven’t been many women in your field. Diep said, “I work in a very male dominated industry and we’re different and people like different. We’re very relationship-driven. We’re more collaborative.”

She continued, “You’re a lot stronger than you give yourself credit for.”

Karp agreed. “The ability to facilitate collaboration is a great talent and, I would suggest, is one of the most important skills of the leaders of the future,” she said.

“Women do seem a little better constructed to drive collaboration.”

This holds true in the entrepreneurial arena as well, Otero said. “Entrepreneurs have to be able to engage others so they can grow. Women understand how to do that and people who can collaborate build businesses faster.”

As part of this year’s celebrations of Gay Pride, The Glass Hammer decided to take a look at Sexuality in the City (of London) and ask – how are London’s big companies and financial institutions approaching the LGBT agenda and what do best practices look like in 2011? Are networks making a difference, is it any easier to be out at work than it once was and what does “success” look like if you’re building an integrated and inclusive workplace?

We started by examining the Stonewall Workplace Equality Index – Britain’s leading tool for employers to measure their efforts to tackle discrimination and create inclusive workplaces for lesbian, gay and bisexual employees. Since launching in 2005, more than 650 major employers have taken part in the Index, using Stonewall’s Index criteria as a model for good practice. Each year, Stonewall publishes a list of the Top 100 Employers – the list of those they dub “the most gay friendly employers in Britain.” 2011’s top three such employers are the Home Office, Lloyds Banking Group, and Big 4 accounting firm Ernst & Young and, when we asked around, it became clear that having a place in the Stonewall Index was regarded as essential best practice amongst the LGBT community, with one typical comment being:

“… I would … research the company’s stance and reputation on “gay equality”. I have previously checked whether a company has ever featured in Stonewall’s Equality Index and also spoken to friends who have knowledge about the company.”

After several interviews, we determined a number of best practices that the City’s top companies are engaging in to attract and retain LGBT talent. Here are just a few of the methods these firms are employing to create more inclusive workplaces.

1. Providing Networking Opportunities

Ernst & Young, who came third in the 2011 Stonewall Index, were named Network of the Year in 2010 and Star Performer Network in 2011 for their Ernst & Young Gay, Lesbian, Bisexual and Transgender (EYGLES) network, so we asked them for some guide points on best practice and network integration. Both EMEAI Diversity & Inclusiveness Director Fleur Bothwick and EYGLES co-chair Kelly Widelski were very clear on the need for employees to feel as if they can bring all of themselves to work, with Widelski telling us that:

“A formalised network can provide the structure and support that people may need to develop within an organisation. Networks also help to drive real change. A goal of our EYGLES network [which has been in place for 15 years] is to help provide a place where our employees can achieve their full potential; this is a driver in assisting our LGBT employees to rise through the ranks into leadership positions and in turn provides role models that educate and develop our business.”

Widelski also emphasised that EYGLES provides strong support to the firm’s wider diversity and inclusion strategy, noting that “ … we act as trusted advisors on all things LGBT for our leadership group. By doing this and constantly challenging ourselves to innovate, we are able to drive change across our business. I believe we are taking diversity and inclusiveness to a new level by using it as a value driver in how we connect to the market.”

She added that there’s a commercial edge to the network’s profile too, in that – “ … we support the development of existing relationships with our clients by sharing our best practices with them around D&I and the LGBT strand in particular; our programme “Having Different Client Conversations” allows us to drive debate and real change across the workplace environment.”

2. Setting the Tone from the Top

This year’s list of DiversityInc’s Top 10 Companies for LGBT Employees indicated that tone from the top – specifically, having a straight leader who actively champions LGBT causes – is a great best practice in the USA and we learned that the same is true in London. One staffer at a top law firm told us:

“… best practice for me is that there is senior leadership buy in. Most, if not all, companies know that they have to invest some effort into gay employees. However, I know from friends that in most cases this just extends to a group being created in silo to the rest of the firm. I’ve been pleased to see [our] Chairman and members of the Board attend LGBT events and contribute to discussions and debates on what gay equality looks like in a professional services firm.”

3. Engaging in People Development

We hear a lot about authentic leadership at the moment, as a very 21st century buzz phrase. It’s particularly apt for members of the LGBT community, who may not always feel comfortable about bringing their whole, “real” self to work or into a leadership role. Organisational consultant Jean Balfour, co-chair of pan-business networking group the Gay Women’s Network, commented that, “Organisations should [consider] mentoring, helping people access internal ’sponsors’ and providing professional development opportunities for staff – these are key.”

4. Providing Community and Philanthropy Opportunities

All the companies surveyed for this article were very clear on the need to connect their people network activities with the wider community – and they do this by supporting key LGBT charities such as the London Gay and Lesbian Switchboard and the Terrence Higgins Trust. Ernst & Young also support Stonewall’s fund raising events and companies such as PwC and the Royal Bank of Scotland encourage staff to get involved in philanthropic activities by providing matched donations to their chosen charities and paid leave to volunteer for them.

The future – where next?

Ernst & Young’s Fleur Bothwick is clear that “… inclusive leadership is about valuing difference. It’s about recognising that our real strength lies in our ability to work together and in leveraging everyone’s unique perspectives”. Jean Balfour agrees and urges companies to help more women to achieve and succeed in senior roles, as “This then in turn might make it seem easier for lesbians to come out.”

Everyone interviewed for this article were themselves out at work, but also had friends and colleagues who were not; the reasons for this ranged from feeling that their sexual preferences were none of their employer’s business to believing that the culture of their investment banking workplace was still “stuck in the 80s and very macho.”

However, a gay male interviewee observed that, for him, best practice is now all about “normal – [my company] has made big strides in normalising your sexual orientation within the workplace.” Kelly Widelski of E&Y agrees, suggesting that indiference and a lack of interest in what goes on in the bedroom is the best measure of acceptance and inclusion.

Let’s encourage employers everywhere to move towards adopting this new definition of “normal.”

On The Glass Hammer, we discuss the importance of networking almost on a daily basis. While your company may provide networking events or you may belong to a professional organization that offers networking opportunities, when it comes to networking, it can be difficult to find the group that meets your needs or aligns with your personal interests.

The United Women in Business Foundation is a non-profit designed to encourage networking between women of different generations. The organization was originally founded by a group of George Washington University alumnae in December of 2009. The women, who had been part of a networking group as undergraduates, wanted to continue developing their careers, but couldn’t find quite what they were looking for. So they decided to found their own.

Cross-Generational Networking

Mara Geltzeiler, the group’s Vice President of Finance, explained, “We hope to band together and bridge the gaps that exist for women in business.”

The group is made up of four generations of women – seasoned professionals, young professionals, college students, and high school students and focuses on mentoring. She explained, “we reach out to underprivileged high school students because these school districts often lack the resources to educate these young women from a business standpoint.”

She continued, “We want to help young, inner city women recognize what their future can hold.”

The group’s college membership is sourced by existing networks like NYU Stern’s Undergraduate Stern Women in Business, Columbia’s School of International and Public Affairs Women in Leadership, George Washington University’s GW Women in Business, and more.

Regarding professional women, the group has reached out to colleagues and friends, and is always looking for more members. Geltzeiler said, “We all have a network of executive level women, and by merely asking them to contribute their time they have been more than generous.”

She continued, “I think they realize that a gap exists, and they want to pull women up. They have been very willing to help in any way they can.”

Mentoring Focus

Geltzeiler explained that the United Women in Business builds groups of “mentor families” – individuals who work in the same field, but not in the same company, and consist of women of different experience levels. She explained, “You can have more candid relationship with someone who’s not necessarily in your company. External networking enables you to be more open about your challenges, yet still get advice from someone in your field.”

Regarding its focus on mentoring inner city high school women, she explained, “There is a lot for us to learn about our community. And we’re constantly learning something from the younger generation as well – whether it’s something about creativity or technological innovation.”

The non-profit, which is open to women of all generations in Washington, New York, and Chicago, has a number of events planned in the coming months, including an event in June on salary negotiation. The group is also hoping to stream the event on the web.

Personal Lessons from Building an Organization

Geltzeiler said she’s learned a lot personally from getting involved and helping to launch the United Women in Business Foundation. She said, “I’ve learned how much it means to me to make a positive impact on other people’s lives.”

She continued, “I’ve enjoyed speaking up and sharing my experiences, and creating this platform for others to do the same.”

“We’re just getting started, and we encourage advice and constructive criticism,” she added.

Currently many young women on Wall Street don’t have senior women to reach out to and if they do, these women are too busy to be a mentor. Another theory, as uncomfortable as it may seem, is that senior women don’t feel it’s their job to help younger women coming up the ranks. After all, they defied the odds with little help, so why can’t younger women?

Many believe that women’s networks are the cure all for these problems, but cross-generational networking presents an all new set of problems.

Elisabeth Kelan, a lecturer in Work and Organizations in the Department of Management at King’s College London recently conducted a study that revealed how difficult it is to get young women involved in a company’s long-standing women’s network. “Younger women find it difficult to connect to women’s networks in the workplace, because they view these networks as something that belonged to their mother’s generation,” Kelan said. The irony is that when new women’s networks are started at companies, they’re often run by younger women, who experience difficulties getting senior women to become active in the group.

So, how can cross-generational networking be improved and what is the business value in networking between Baby Boomer, Generation X, and Millennial women?

Getting Generations of Women Together

Roy Cohen is a well-established career coach considered an expert in management and leadership development. For almost 14 years he served as Goldman Sachs’ sole provider of career and outplacement support and as a coach, he now works with many women’s groups, including Citibank Women’s Leadership Council and the Financial Women’s Association. He has also participated in the 92nd Street Y “About Women” series, both as a facilitator and panel member, and he has been a featured speaker at the “Women on Wall Street” annual conference.

Though some women might be uncomfortable accepting advice from a man concerning the plight of women on Wall Street, tough-talking Cohen has a lot to say on the subject and as many women’s networks have discovered while working with him, what he says hits close to home.

Here’s our conversation with Cohen on getting generations of women together.

TGH: “In the past you’ve said that based on your experience, senior women are either over-extended or unwilling to mentor junior colleagues. Is the fact that they’re over-extended the reason they may seem unwilling to mentor junior colleagues?”

RC: “There are far too few Wall Street women in senor executive positions. If you then divide the universe into two groups – those who are sympathetic and those who are not, you’re left with an even smaller community to provide support and encouragement. Some women just don’t care, the belief being: I made it on my own, why should I make it easier for anyone else, female or male? And why should they be held to a standard that’s any different from their male counterparts? Besides, they may also view younger ambitious female colleagues as potential competition. For those women who get it and believe in the power and value of mentorship, there’s just not enough time in the day or energy to be available to everyone and at the same time, meet their commitments as senior managers.”

TGH: “Do you think senior women should be expected to reach out and help younger women coming up the ladder?”

RC: “I think that senior women should be encouraged to support younger female colleagues, but it shouldn’t be a requirement. I believe it’s the responsibility of all senior managers to support any group that is under-represented. It’s not fair to place the burden of reaching out on senior women; that’s like adding insult to injury. It’s like saying, ‘We, the organization, expect you, the senior female executive, to be responsible for a problem that you didn’t create.’”

TGH: “Internal women’s networks at companies are often started by younger women and they often struggle to engage more senior women. Why do you think that is? How do you think this could be fixed or can it be?”

RC: “I think the process often breaks down when expectations are either unclear or unrealistic. Younger ambitious colleagues tend to be impatient with respect to promotions, raises, and expanded responsibilities. They want to know how quickly they will benefit from the time they’ve invested and the relationships they’ve established. Programs and discussions may be one-sided, focusing attention on what younger, less experienced women need to do to advance. But senior women want to know that they’ll get something out of these initiatives, too.”

TGH: “Final question. In your opinion, what’s the business value in networking between Baby Boomers, Generation X, and Millennial women?”

RC: “Knowledge transfer that’s fluid, from Baby Boomer to Gen X and Y and back. What do older executives offer? They tend not to be easily flustered; they’re expert project managers; they may have extended and deep professional networks and potential relationships among key decision makers; they’ve also experienced problems and challenges and if they’re successful, they can apply and re-apply this knowledge to new and challenging situations. It’s the equivalent of shorthand. What they don’t often have is a real comfort in conceptualizing and in using language and processes that are technology-based. That’s what Gen X and Y bring to the networking process and why it’s beneficial to have a mix of ages in your networking universe. Gen X and Y offer unique insight into, and a fresh perspective that is often informed by, technology, social networking, and specifically for Wall Street women, an understanding of complex structured products and the underlying financial engineering.”

To sum up, the best way to encourage cross-generational networking, may be to focus on what different generations can learn from one another – emphasize that mentoring is not simply a one-way street.

Audrey Choi, Managing Director of Morgan Stanley Global Sustainable Finance, moderated a panel discussion last week entitled, “Will Microfinance Succeed in the BRIC countries? Does Regulation Matter?” The answer to both questions, according to panelists Hans Dellien, Chikako Kuno, and Elisabeth Rhyne, is yes.

The event, organized by Financial Women’s Association and sponsored by Morgan Stanley’s Global Sustainable Finance and Women’s Initiative, focused on how regulation promotes and hinders microfinance institutions in Brazil, Russia, India, and China, collectively referred to as the BRIC countries. Though these countries are known as emerging opportunities for investors, they have “enormous potential and enormously different market dynamics,” says Choi.

She asked, “As we get to a real evolution of the field, where you have investors coming into microfinance with very different motivations, very different kinds of checkbooks…What happens? What is the right way to untangle mission and profit and fiduciary responsibility?”

Response to Hardship in the Microfinance Arena

Any discussion of microfinance in India must address the recent relationship between MFIs and the tragedies that ultimately led to an overhaul of regulation, first in the state of Andhra Pradesh and then nationally.

Elizabeth Rhyne, CEO and Managing Director of the Center for Financial Inclusion, attributes the problem in part to the pursuit of excessive scale by microfinance institutions, as the use of outside agents to recruit clients resulted in multiple lendings, and growth do fast that there was a loss of standards.

She added, however, “I would say there is a long tradition of suicides associated with bad agricultural years, so it’s not like the suicides were something really unusual, but the fact that they were linked to microfinance then gave the tinderbox that lit the fire with the press.” Rhyne hopes that the initial regulatory crackdown by the government will be seen as a “quick fix,” and over the next few years will pave the way for better, longer term solutions.

Within the next few generations, she predicts, there will be a “focus on broadening product range. A contributing factor to the problems was the fact that MFIs “were just doing one specific group product,” when, ultimately, “clients need savings.” “To me,” Rhyne said, “the story of ‘What’s the next generation?’ will be the story of how the range of products delivered to clients will broaden.”

Education and Regulation

Chikako Kuno, Director of Capital Markets for FINCA, says that microfinance is a relative term in Russia, where the average loan size is around $25,000. MFIs, she says, “were having a hard time getting a footprint, because the needs are vast,” and every time there was a banking crisis, commercial banks were withdrawing funding from the client base. By the last quarter of 2008, portfolios had been halved, and “banks were bleeding,” says Kuno. A law passed last year firmly established the right of microfinance institutions and banks to provide lending to microentrepeneurs, as will serve as a measure to alleviate the financial burden on small business in Russia. “We’ll see if it gives the impetus” to grow the industry, Kuno wonders, implying that the future of microfinance in Russia is still to be written.

Hans Dellian, Director of Microfinance Products for Women’s World Banking, spoke from his 18 years of experience managing microfinance institutions to discuss both China and Brazil’s positions in the industry. Dellian stated that the new legal structure in China formed in the last 3-4 years brings problems and challenges, such as the issue that, “from the regulation perspective, you can get licenses for only certain counties; of course, those counties have 20 million people, so it is not such a problem.”

However, the tight regulations mean that funds cannot be leveraged too much, due to constraints such as interest rate caps, and so MFIs are forced to lend only larger sums of money. “On the other hand,” Dellian goes on to say, ”the Chinese are very open, and very avid to learn, and they have invited all networks in the world to operate in China” as a way of importing knowledge.

This, he says, will speed the process of change, and he is optimistic that regulations will change in the next 1-2 years, making microfinance more attractive in China to investors. Similar inflexible regulatory constraints hinder Brazil, leaving a big vacuum in meeting the needs of clients, says Dellian, and culture also plays a role, since Brazilians “hate to acknowledge that there is some poverty in Brazil,” as they view themselves as very developed. As in China, Dellian feels that rethinking the regulatory models will speed up reform.

The Double Bottom Line

The panelists agreed that when creating at best practices for the microfinance industry, finding a successful template would necessitate looking outside these four large countries, and instead focusing on smaller countries which have been able to establish more flexibility.

In larger countries, government must be a partner, and must offer incentives in order to get sustained funding for microfinance, says Kuno. She continues that transparency is key, in part to monitor the players – that while microfinance has proven it can be sustainable and profitable, the industry will have to grapple with the fact that maximizing the profits may come at the expense of the client.

How to maintain that “double bottom line” will be an ongoing discussion. Dellian agrees that a strength of the Latin American countries has been their transparency, with the result well-regulated markets, and he notes that regulators and MFIs work together in collaboration, rather than as adversaries as is common in the larger countries. Rhyne feels that investors must “step up to the plate,” and become more responsible for the industry overall.

It’s no surprise that throughout the economic downturn, companies’ resources have become scarce, and issues of diversity and gender inclusion tend to take a backseat to shrinking profit margins. Despite these ever-increasing challenges, some businesses and organizations have managed to navigate these and other distractions. Keeping their women’s initiative at the forefront of their business growth and on the road to success, they share some of their insight through these 5 tips.

1. Form a long-term strategic plan. Similar to the market, companies face their own plethora of challenges that tend to take the focus away from many important issues and initiatives. However, having a strategic plan in place allows an organization to create a map of its resources, as well drive direction forward, despite a demanding and evolving landscape.

Nancy Calderon, chair of KPMG’s Women’s Advisory Board (WAB) attributes part of the success of women’s advancement in the firm to a far-sighted vision of an objective. She explains, “When we started, we developed a long-term strategy to support our objectives, and we’ve continued to evolve it over the years. That strategy includes the development and continuous improvement of programs that are relevant, and easily executed by the members of KPMG’s Network of Women, which has nearly 60 chapters in KPMG offices across the country.”

2. Create a ‘gender intelligent’ organization. With more than 60 percent of it’s 60,000 employees worldwide being women, American Express has kept advancement of its female executives as a top priority.
To achieve this goal, American Express’ Global Diversity & Inclusion team launched “Women in the Pipeline and at the Top.” Through this initiative, the company conducted focus groups and individual interviews with senior women and men to identify barriers and opportunities at American Express that impact senior-most female advancement. The research revealed several central themes including lack of access to networking opportunities, the characterization of top leadership culture being molded by male-behaviors, and the limited number of role models for women aspiring to senior positions.

By recognizing the needs of their female executives as distinctly different from their male counterparts, American Express fosters a progressive and honest view of women in the workplace. Through this approach, their programs become much more impactful, by directly addressing the needs of their women employees.

3. Treat initiatives as corporate values. Many companies view women’s initiatives as an extra benefit or perk, however companies like General Mills recognize it as an integral and valuable culture in the workplace. Ken Charles, VP of Diversity and Inclusion for General Mills explains, “At General Mills, we see our efforts to create a diverse and inclusive work place as investments. Recruiting, retaining, and developing the talent we need to win now and in the future has real business value. We recognize that some businesses are better positioned to invest in initiatives but every business can make progress. Inclusion is free. Respect is free. Having a manager who listens is free. These aren’t programs, they’re values. As leaders within our enterprises we set the tone and establish the expectations.  If we rise to the task and lead, we can achieve the transformation we seek.”

4. Identify and highlight cost savings attained through initiatives. Women’s initiatives and similar programs can be associated with unecessary expense, rather than viewed as a mechanism that can save businesses money. However, programs like the Inclusion Initiative (jointly launched by Accenture, American Airlines, Comcast, DuPont, Exelon, General Mills, GlaxoSmithKline, Microsoft, Prudential, Sempra, and Walmart) found that the initiative helped them trim costs. Susan L. Blount, Senior Vice President and General Counsel at Prudential, said, “The Inclusion Initiative model shows that corporate law departments can successfully use minority and women owned law firms for complex legal matters while reducing costs and positively impacting diversity.”

5. Recognize the growing voice of women in the workforce. It’s impossible to ignore the increasingly changing needs of the average family in North America. With the recession impacting far more male executives than females, many women became the sole breadwinners at home, changing the demographics of the workplace. Women’s Initiatives were once tools only utilized by seemingly progressive companies. Slowly but surely, they are becoming the norm, with resounding impact on the companies participating. After all, with women soon to make up 50% of the workforce, how can employers afford not to recognize the challenges and successes of the women who will change the face of their businesses?

Last week the Financial Women’s Association of New York held the inaugural event for its new Men’s Alliance – an initiative designed to promote cross-gender networking. The sold-out scotch and chocolate tasting event, “Single Malt Chocolate” took place at Debevoise & Plimpton LLC and included over 200 attendees and tasting advice from Vosges Chocolate and The Macallan.

What was made clear throughout the evening was that the purpose of the event was not simply about opening lines of communication between genders. The event was designed to promote client networking – using the cross-gender networking platform to enable members of the FWA to be more successful at their jobs.

FWA President Susan Ganz said, “How do we engage men in this dialogue? It’s about men and women being in business together.”

Driving the Dialogue

Deborah H. Kaye, Co-Chair of the Men’s Alliance, and Managing Director and Senior Managing Counsel at BNY Mellon, also focused in the importance of opening conversation between the genders. She said, “We created this event to bring men and women to the table. There’s something for everyone. We need to get people interested in creating a dialogue.”

Kaye continued, “And we’re thrilled with the response. We sold out a month in advance.”

She explained that the FWA has long welcomed men into the organization’s membership – and many of the group’s events are not gender specific. Still, she said with a laugh, “When I say, ‘yes, we take men,’ they never believe me!”

“A lot of men say, ‘where’s my networking group?’ Eighty percent of our events are not about women. Men want a seat at the table,” she added.

Ganz focused on the business aspect of the event. “It’s not about doing this for your daughters or your spouses. All colleagues want better communication and education.”

She continued, “Going back to our recent Forbes article, research shows that investing in women makes good business sense. Companies that leverage networking groups both internally, and externally through groups like the FWA, will do better in business. It’s strategic.”

Learning from One Another

Kaye said she has learned a lot from her male colleagues throughout her career, particularly when it comes to leadership. “We actively coach each other in terms of management styles. I know I’ve improved as a manager as a result of dialogue – as a result of this Alliance.”

Charles Bernard, the FWA’s Mens Alliance Co-Chair and President of Criteria for Success, said he came into the group with the intention to learn from his female counterparts. Tapped to lead the group by Kaye, and then nudged by Ganz as well, Bernard said, “It’s of strategic importance [to network together] because we in business today are hungry to learn new ways to improve how we run our businesses. Men and women collaborating much more is a great way to do that.”

He said he hoped to hone his skills in networking as well. “We can learn from each other. I have found that men can be bulls in china shops quite often at networking. Quick to make connections, wanting to push business only to discover that they might have done better approaching a contact more methodically, getting to know them so that they might A, find out that they are a good fit and B, be more comfortable referring someone they know well.”

He continued, “I felt that the FWA had a different approach to networking. Much softer, more into making long lasting relationships and usually with a substantive fun or learning event attached to it.”

Building long-term strategic relationships has often been heralded as a way for women to get ahead in the workplace. It is a positive sign that men have started to realize that networking with women is just as critical to their career development as well. Hopefully the FWA’s Men’s Alliance is the beginning of a domino effect in cross gender networking, driving awareness of the strategic value of women in business.