By Teresa Freeborn
If you look at figures from the Filene Research Institute and compare them to the Fortune 500’s record on women in leadership, you may think life is pretty darned good for women at credit unions.
After all, credit unions boast a national average of 29% female CEOs, while the Fortune 500 have less than 5%. Sure, we’re better. But it’s still an embarrassment to have women represented in such low numbers, relative to their proportion of the population and workforce.
Credit union boards of directors and current CEOs bear the greatest responsibility for changing the workplace norms that still cause us to inadvertently groom men for leadership roles and leave out promising women.
However, if you’re an ambitious young woman looking to make it to the top, here are a few things you can do in the meantime to break through. If you’re an ambitious young man, these tips can help you, too.
- Know the numbers. No one – male or female – can sit in the CEO chair of a financial institution if they can’t read and understand a balance sheet and income statement.
- Dress the part. This wins me no points with some people, but I’m not a fan of the “business casual” workplace. I think that if you dress for the dance, you’ll dance. If you dress for golf, you’ll golf. And if you dress for business, you’ll do business.
- Remember everyone is a boss-watcher. As the boss, you have to be “on” all the time, so act accordingly. This counts double if you happen to be female, or of color, or gay, or any other category that might make you “the first” of anything at your credit union. Fair or not, you’re going to be subject to greater scrutiny, so use that spotlight to your advantage.
- Take charge of your career. Don’t expect your HR department to plan your career. Credit unions, like most corporations, don’t have career plans for future CEOs. If you want to be in charge, you’re going to have to take charge. So review your goals. Take stock of your life. Consider your options. Ponder problems and limiters. Do this every day and be ruthlessly honest with yourself.
- Love schmoozing. Many folks say they hate politics. Some even consider it demeaning or shallow. They are wrong. Embrace politics as the art of getting things done with other people, and you will go a long way and you’ll get an awful lot done. That’s just the way the world works.
- Build your personal brand. Stand for the positive attributes boards of directors want in the C-suite. Be honest. Be kind. Take care of people. Listen. Apologize. Demonstrate those personal brand attributes at every opportunity, and don’t ever do anything that might compromise your brand.
There is no shortage of competition for that corner office. But I contend that if you are really terrific at these things -- what might be called the “basics” -- a lot of good things will come your way.
Teresa Freeborn is president/CEO of Xceed Financial Credit Union, El Segundo, Calif.