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InvestInHERMeansMoreThanMoney

Samir Goel
Samir Goel Co-Founder Transfernation | LinkedIn | Consultant and Public Speaker
7mo Story World
Invest In HER Means More Than Money
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When you hear the term gender-gap, what is the first thing you think of? You probably thought of the wage gap between the salaries of men and women. You’d be entirely justified to gravitate toward this, as the statistics on the wage discrepancies are an eye-opener. Here’s the problem with jumping to that: the wage gap is an outcome of a problem rather than a cause. The root of the problem begins far earlier than that first corporate job or investor meeting.

Last week I had the opportunity to attend the Clinton Global Initiative Winter Meeting and participate in the working session titled “Invest In Her”. The session started with an acknowledgement of the skewed ratio of men to women in the room, approximately 7 to 93.  After an inspiring introduction by Henriette Kolb the Chair of the Gender Secretariat at the International Finance Corporation we jumped into small groups optimized to engage attendees, foster connections, and build solutions.

Our focus area was in Procurement and Services Diversity. In other words the idea of creating inclusive business supply chains by relying on women, minority, LGBT, veteran, and other oft-marginalized group owned businesses. Historically contracts have gone out to business owned by societies “elite” creating an uphill battle for many minority owned businesses. Today minority and women owned business are finally overcoming this bias and make up one of the fastest growing sectors of the economy. Yet there is still a significant gap in their utilization rate compared to other business units. We dove into this challenge by outlining the largest problems we see in gender equality, especially at the organizational level.

Here’s what was shocking: Access to capital was not the issue. In recent years globalization has transformed the procurement industry allowing even developing nations to become key vender locations, as a result of their lower labor and resource costs. In these nations women entrepreneurs and business owners are not suffering from lack of capital access. In fact Africa boosts the only 3 countries in the world with greater female economic participation than male (No Ceilings). Instead the most frequently cited issue was lack of business training or knowledge of how to spend investment. Women could get access to capital but had never received training or mentorship on key factors skills such as sales, operations management, hiring, etc. Why? Because they were never expected to be business owners or managers. In fact, most discrepancies in skills and training could be cited as from before the age of 18.

Recently I read an article by Patricia Garcia in Vogue titled “Should We All Be Raising Gender Neutral Children” that really made me think. It pointed out that our inherent biases when raising boys and girls are what create the biggest divides. Boys are most frequently asked about numbers and counting, girls are most frequently asked about appearances and looks. Boys are encouraged to be aggressive (how many times have you heard “boys will be boys”), girls are encouraged to smile and look pretty. Boys are encouraged to win, girls are encouraged to try. How often is a young girl asked about math or even reading? If you read Lisa Blooms article in Huffington Post “How To Talk to Little Girls” you’d be surprised by how much less frequently it occurs. In fact the skills and attributes that are needed to be successful in business are what we steer boys towards and girls away from. Years later we try to make up for it with endless “One day Workshops”. In comparison to years of misdirection these fall far short of what is needed to best “Invest In Her”. Still skeptical? See the pure data from the Clinton Foundations No Ceilings Project. So what’s the solution? Is there one?

Disclaimer: Different people have different styles: the goal is not for women to emulate men, but to have the same level of opportunity and success with their own styles. Individuality is what makes diverse groups so much more dynamic.

In the long run it’s clear that we have to change our own perceptions to create an environment, which empowers boys and girls equally. It takes time but adults have to begin to check themselves around children and make sure that they are not perpetuating stereotypes unintentionally. In the short run, diversity programs and one-day workshops are not enough; instead we need to focus on personalized skill development. Selling yourself is not something that can be picked up in a couple hours and neither is recruiting a board or bringing on clients. One-on-one mentorship, full-length trainings, and most importantly encouragement and support are the changes we can make today.

Coming full-circle: the wage-gap is an extension of the biases that are ingrained from early ages. Women are not worse negotiators than men, they are simply not encouraged to be aggressive or value themselves as highly. Imagine if at age 4 a girl was asked about building legos, at age 12 the economy, and age 18 her dream. Investing in her does not mean creating quotas for jobs and investment, it means believing in HER. 

Money won't create success, the freedom to make it will.
Nelson Mandela

From Samir Goel, Mogul Contributor

Tiffany Pham and 13 others upvoted this
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Samir Goel
Co-Founder Transfernation | LinkedIn | Consultant and Public Speaker
Mogul mark 69bfef8e2db2ecdf1523bf358a9d00b7e7866c9138dd71a0b6f084942863dbba
Mogul Influencer

Resolution Fellow | Dalai Lama Fellow | Jefferson Awards Foundation GlobeChanger Bridging the Public and Private Sectors Around Global Social Change

10 comments

  • Bethany Heinrich
    Bethany Heinrich Mogul Influencer
    7mo ago

    Fantastic post, Samir. Beyond informative. I hate the idea that it wasn't that women weren't receiving capital, it was that they weren't expected to be managers and didn't have the training or mentorship on how to manage it. Eye opening fact that is so sad, and I'm hopeful that this issue will improve due to amazing people like you who are raising awareness on the matter.

    Fantastic post, Samir. Beyond informative. I hate the idea that it wasn't that women weren't receiving capital, it was that they weren't expected to be managers and didn't have the training or mentorship on how to manage it. Eye opening fact that is so sad, and I'm hopeful that this issue will improve due to amazing people like you who are raising awareness on the matter.

  • KatherineBaron
    KatherineBaron Katherine A. Baron
    7mo ago

    I feel like we are finally in the beginning stages of the awareness and the changes. I wonder what took so long? But it's more and more in the news. Great article!

    I feel like we are finally in the beginning stages of the awareness and the changes. I wonder what took so long? But it's more and more in the news. Great article!

  • macee2817
    macee2817 Community member
    7mo ago

    Women need to address more issues concerning women

    Women need to address more issues concerning women

  • Emy
    Emy Beautiful life comes with beautiful mind
    7mo ago

    Samir wrote: Different people have different styles: the goal is not for women to emulate men, but to have the same level of opportunity and success with their own styles. Individuality is what makes diverse groups so much more dynamic. Cant agree more.

    Samir wrote: Different people have different styles: the goal is not for women to emulate men, but to have the same level of opportunity and success with their own styles. Individuality is what makes diverse groups so much more dynamic. Cant agree more.

  • Naina Dwivedi
    Naina Dwivedi "In the end we only regret the chances we don't take"
    7mo ago

    These look very nice

    These look very nice

  • Naina Dwivedi
    Naina Dwivedi "In the end we only regret the chances we don't take"
    7mo ago

    Very nice

    Very nice

  • Naina Dwivedi
    Naina Dwivedi "In the end we only regret the chances we don't take"
    7mo ago

    very nice

    very nice

  • Naina Dwivedi
    Naina Dwivedi "In the end we only regret the chances we don't take"
    7mo ago

    very nice

    very nice

  • Naina Dwivedi
    Naina Dwivedi "In the end we only regret the chances we don't take"
    7mo ago

    very nice

    very nice

  • Naina Dwivedi
    Naina Dwivedi "In the end we only regret the chances we don't take"
    7mo ago

    very nice

    very nice

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