Let’s unite men and women to shatter the glass ceiling

As a Lebanese man who immigrated to America, I am tremendously excited about the progress that organizations have made in equality, equity and empowerment in recent years. And, I’m even more enthusiastic about the future. Empowering everyone as leaders is the right thing to do, both morally and strategically. When we celebrate everyone’s ideas, identities and experiences, we can better serve an increasingly connected and diverse world of consumers.

Here’s the critical point: when it comes to empowering women, advocacy is not a woman’s responsibility alone. This should come as no surprise to any organizational leader. After all, innovation is not solely an IT function. Brand-building is not exclusively a marketing or communications function. Expense management is not only an auditor’s responsibility. Men must step up more to support and advocate for women. That’s why I regularly encourage my male colleagues to be indispensable allies for future women leaders. If we want to change the way women experience the workplace, we must do the work. 

Later this week, I will join other industry leaders at the Money20/20 conference and participate in a panel discussion on, “Practical Ways to Push Through the Glass Ceiling and Engage the Other Half Along the Way.” While preparing my thoughts, a colleague asked if there was a moment when my feelings about empowering women transitioned from passive support to passionate advocate. Yes, there was. At my previous employer, I worked for a male leader who vigorously advocated for women. He stood up and spoke out on behalf of women in the workplace at major events, in the news and at company meetings. His words, and more importantly, his concrete actions made it all *click* for me, and I started imagining ways that I could get involved. Now at Northwestern Mutual, I’m even more inspired by our CEO John Schlifske and others who are authentically working to build a diverse, inclusive and inspiring workplace.

Here are three suggestions to help you empower women as leaders:

Look for big win-wins. Strategies that empower women as leaders and drive business results can generate returns for your organization, for women, and the world.

Women represent more than 50% of the population. However, female-founded startups receive less than three percent of the approximately $80 billion in venture capital annually. Companies founded by both men and women receive around eight percent of the total capital, coming second to male-founded companies that secure 89 percent of all venture capital invested globally each year.

As part of our ongoing commitment to women and diversity, Northwestern Mutual recently announced we are dedicating $20 million of Northwestern Mutual Future Ventures funding to investing in startup companies that are founded by women. Allocating $20 million is only the beginning—we will continue to invest in and provide opportunities for female founders. We’re committed to supporting female entrepreneurs and providing access to capital and resources to help them grow their businesses and align with our strategic areas of focus:

• Building for consumers' changing financial preferences
• Reimagining the client experience
• The digital health revolution
• Transformational analytics and technologies

When these women succeed, we will, too. The innovations we’re investing in have the potential to transform how our clients experience financial security. In the years ahead, we will be able to leverage their expertise and experiences, and share those learnings across our organization.

If you’re a leader in the financial services industry, you already know the essential and increasing role that women are playing in managing financial decisions. A majority of personal wealth in America (51%) is now controlled by women. According to McKinsey & Company, by 2028, women will control 75% of global discretionary spending. Listening to and investing in women’s insights and ideas is critical to serve them.

Create safe spaces to build a dialogue. Many women, and male allies, are interested in expressing support for each other, but aren’t sure how to go about it. Big picture, women (and men) need to articulate what they need to succeed – but men and women who have succeeded before them need to ask them, too. We have to make these conversations more interactive, and actively cultivate them. In addition to building one-on-one dialogues, men should broadly show support for women. Seek ways to make your positive beliefs known among the women – and men – you work with. Show up at and get involved in activities led by women-led employee resource groups and organizations. Lead by example as someone who cares about women’s aspirations and goals for leadership opportunities. Get engaged now, and build trust over time and position yourself to lead authentic conversations and actions in the future.

Train for a marathon, but identify milestones. There is no quick-fix solution. Empowering people – women and men alike – as leaders is a long-term journey. To maintain momentum, it’s important to have a long-term vision while also setting short-term goals for yourself and your team. My goal is to have balance on my team, with talented people from all demographics. That requires a conscious effort. I am relentlessly networking, reviewing resumes, appearing at industry events and keeping an eye out for top talent. I also review the talent data for my organization to identify areas of opportunity. You have to show up, track and measure, and deliver every single day – in pursuit of this long-term goal.

It’s energizing to see the progress that women are making in the workplace. More women than ever are advancing up the corporate ladder. When we look back 10 years from now, I hope that we will see even more women who have shattered all the ceilings, and find a world that is even more interesting and inspiring to live in. I want to see even more visionary women leading unicorn and legacy companies, and a robust pipeline of women senior leaders waiting in the wings. As the father of three girls, the husband to a wonderful wife, and the employee, manager and colleague of women, I want everyone to have the opportunity to pursue their professional passions, succeed and lead. We can make that future a reality – but we need everyone to create it. 

To all my colleagues, can I count on you to stand up for women? Let me know what conversations you’re having and actions you’re taking to support women and recruit allies.