The "Glass Ceiling" Lisa Weber never doubted that she would be a partner in her Wall Street firm. A graduate of a prestigious business school with a doctorate in economics, she had taught briefly at a major university. She was the first woman hired as a market analyst in her well-regarded firm.
Within two years, she has become one of four senior portfolio managers reporting directly to a senior partner. Her clients give her the highest commendations for her outstanding performance; over the past two years, she has brought in the largest number of new accounts to the firm. Despite the admiration of her colleagues and their seeming acceptance of her, there is a disturbing, if flattering, aspect to her job. Most of her peers and some of the partners visit her office during the day to discuss in private her opinions on market performance and financial projections.
She enjoys these private sessions but is dismayed that at the weekly staff meetings the CEO, Michael Breyer, usually says something like, "OK, let's get started and bring Lisa up to date on some of the trouble spots." None of her peers or the partners mention that Lisa knows as much as they do about what's going on in the firm. She never protests this slight to her competence and knowledge of firm business, nor does she mention the almost-daily private meetings where her advice is sought.
As the only woman on the executive level, she prefers to be considered a team player and one of the boys. In the past year, one of her peers has been promoted to partner, although Lisa's performance clearly surpassed his, as measured by the success of her accounts and the amount of new business she brought to the firm. Having heard no mention of partnership for herself, she approached her boss, one of the partners, and asked about the path to a partnership. He replied, "You're doing great, Lisa, but professors do not partners make. What happens if you are a partner and you make a huge mistake?
How would you take it? And what about our clients? There's never been a female partner in the 103 years of our firm." Shortly thereafter, another woman, Pamela Tobias, was hired as a marketing analyst. Once, when the CEO saw Lisa and Pamela together, he called out to the men, "Hey, guys, two women in one room. That's scary." During the next six months, Lisa meets several times with the CEO to make her case for a partnership on the basis of her performance. She finally realizes that there is no possibility of change in the foreseeable future and decides to leave and form her own investment firm.
Questions
1. What advancement barriers did Lisa encounter?
2. What should the firm's top executives, including Michael, have done differently to retain Lisa?
3. What type of organizational policies and opportunities might have benefited Lisa and Pamela?
4. What could the organization do to raise the gender consciousness of Michael and Lisa's male colleagues?