Frigid offices. A long commute to sandwich in that 9-to-5 workday. The (unstated, but nonetheless understood) importance of face time. Outdated dress codes. American workplaces center and prioritize men. And, as a result, today’s C-suites reflect more of a “Mad Men” aesthetic than a modern one; in the financial industry, white men make up 70% of C-suite roles. This is despite research demonstrating that diversity leads to greater innovation, better business results, and less risk. So when I founded Ellevest I knew we wanted to do things differently. But what does this look like exactly? It starts with a strong culture: Our Ellevest culture revolves around a shared mission of getting more money into the hands of women; after all, as we love to note, “nothing bad happens when women have more money.” That mission spans from the people we hire, to our board, to the institutions who invest in us, to the products we create, to the vendors we work with, to the investments that we make. From this cultural foundation, we are working to build a values-aligned workplace, one that builds on what we’ve learned during the past few pandemic-and-post-pandemic years. For us, this means allowing asynchronous work, where possible. It’s a remote-first work environment. It’s trusting each other to do the right thing. And it’s viewing our personal lives as a priority. We are clear on one thing: That our success will have literally nothing to do with people being in the office or not. This may mean that our managers may have to manage differently, and that may be uncomfortable for them. And we will get things wrong, and we will adjust along the way. That’s because we also believe that companies that reflexively pull people back into the office, without addressing the roadblocks to greater diversity, will have the same (lack of) results all over again. They will then risk losing out on the talent wars, particularly among underrepresented groups. Not convinced? It’s already starting to happen: Our recent Ellevest Financial Wellness Survey shows that 44% of women say they will look to leave their jobs if their companies’ values do not align with theirs. And half of women — and nearly two-thirds of millennial women — are low-key looking for new jobs right now. At the same time, Lean In’s recent research shows that senior women are leaving their jobs at record rates; and it’s not for lack of ambition. If “diversity is a priority” for your company, then pushing your company’s culture, policies, and practices forward (informed by all that we have learned over the past several years about how people work best) should also be a priority.
Well said! As a lawyer, I dealt with the requirement of "face time" for many years, which clearly favored the men in the office who had wives at home taking care of everything else so the men could focus on their careers. I got off of that hamster wheel over a decade earlier than most of my colleagues, and launched one of the first virtual/remote law firms in the US in 2008, and then promptly provided work for home-based women lawyers. I'm at it again, and am excited to build a revised model of my firm that gives experienced women lawyers a chance to do interesting work without the confines and unnecessary restrictions of the old school workplace model. Bravo to you and Ellevest for leading the charge on this important issue!
Casey Minott
1y
Sally when I was an officer in the military I read about you and Sandy in Fortune. I applaud your dedication to equality, and I hope your business thrives. BTW I went to West Point..,,, the kings of stupid pomp and circumstance. Six months ago I told my wife that me dressing up in a suit was negatively impacting the business. I now wear jeans, Lagerfeld boots, a sports coat, with monogram Paul Frederick dress shirts. My clients find me much more relatable and the intimidation factor has been taken down. I think you’re on to something.
Sarah Walton
1y
🙌🙌🙌🙌🙌 the office is and was a white man’s sport and we have thrown women and people of color in and “lowered the net” instead of redesigning the workplace to work. The people that say asychronous or remote work isn’t possible are the same people that said no one will ever book a strangers car, or sleep in a strangers house. The world is changing and the people who figure out how make it change for the better of humanity will win the next decade. More people like you Sallie Krawcheck ! Keep going. We are cheering you on!
I think while it's certainly important to prioritize diversity and create an inclusive workplace culture, it's also important to recognize that not all workplaces are the same. Different companies may have different needs and priorities, and what works for one company may not work for another. For some companies, face time and traditional office environments may be necessary for effective collaboration and communication. This doesn't necessarily mean that they prioritize men over women or lack a commitment to diversity and inclusion. At the end of the day, it's important to approach these issues with nuance and an understanding of the unique challenges and opportunities facing each company. While diversity and inclusion should be a priority for all organizations, the best strategies for achieving this goal may vary depending on the specific context and circumstances.
Cameren Farr
1y
As a prominent advocate for diversity and inclusion, I applaud Ellevest's commitment to creating a workplace that truly values and supports all employees. Keep pushing the boundaries and leading by example. Companies that prioritize diversity and inclusivity will not only drive innovation and achieve better business results, but also create a more equitable and inclusive future for all.
Thank you for speaking up on behalf of all women 👏🏻 I’ve met a lot of men that prefer being away from home and working in the office rather than home, but never a single woman.
As a woman in the tech and banking industries, it's frustrating to see how many workplaces still prioritize outdated one-sided policies and culture. I love how Ellevest is approaching things differently, with a remote-first work environment and a focus on building a values-aligned workplace.
FRIGID! I’ve always felt the A/C in offices was a direct assault on women. Thanks for this declaration.
As Erika Lucas said "We have to stop fixing women and start fixing the systems that were never made for them in the first place"
Director ESG Research and Financial Planning
1ySo refreshing to read this post! When employers insist on "no work from home," to me it points to a lack of confidence in the integrity, abilities, or work ethics of their employees. I'm almost certain this mindset will need to shift if companies want the best millennial talent.