Focus on Women Associates
“Women’s Career Strategies Initiative”
(WCSI)
Melinda Wolfe
Office of Global Leadership and Diversity
WCSI: What Is It?
Six-month development program designed to strengthen the retention
and engagement of our female associate population by providing a
number of developmental opportunities focused on:
 Broadening participants’ exposure to firm’s businesses and culture
 Deepening participants’ knowledge of career development tools
 Facilitating firmwide networking and increasing visibility of senior
women and male role models
WCSI: Why the Investment?
Female associates offer us the greatest opportunity to build the firm’s pipeline of
future women leaders; however although there is a critical mass of talent, the
associate pipeline is weak:
 Voluntary attrition among women associates is generally higher than overall
voluntary attrition, especially within revenue producing divisions
 Associate women face increased pressure to prioritize competing demands.
These years often coincide with a time when women begin to consider the
possibility of a family and determine their level of ambition to advance their
career
 Accessibility to senior management is typically limited to vice presidents at a time
when more junior women are actively looking for role models and are sensitive to
signals delivered to the firm on career prospects
WCSI: Cycle of Successful Transition
1. Fit with Culture
and Style
6. Sponsorship
Base Broadens
2. Staffed on
Deals/Projects
Associate to
Vice President
5. Own Deals/Projects,
Promotion to VP
3. Attract Mentors,
Build Internal Network
4. Acquire
Confidence,
Creative Style
WCSI: Program Outline
Module Approach to Address Issues (Themes):
 Leadership and Management
 Innovative Thinking and Creative Problem Speaking
 Strategies for Managing Your Career
 Having Commercial Impact
 Work/Life Equation
Structure:
 Monthly Sessions: Sessions that focus on broad theme
 Small Group Sessions: Reinforce monthly session with skill building sessions
 Supplemental Events: Facilitate networking and provide forum to further discuss themes
 Senior Spotlights: Provide access to senior leaders at the firm
Additional Support/Tools:
Engagement Letter
Program Sponsors
Manager Checkpoints
Senior Divisional Champions
Web site
WCSI: Engagement Letter - (Quantitative Responses)
How challenging have each of the following been in your development over the last three years?
Leadership/Management:
•Developing your own leadership style
•Managing and leveraging junior resources effectively
•Influencing others
Innovative Thinking and Creativity
•Developing creative ideas for clients
•Managing conflict and successful negotiation
•Managing Your Career
•Projecting confidence in business situations
•Stretching your skills towards 'the next level‘
•Making senior management aware of your talents, accomplishments and contributions
Commercial Impact
•Demonstrating future potential to recognize and pursue new business opportunities
•Gaining a range of assignments and experiences (i.e., deals, projects)
Work/Life Equation
•Finding time to fulfill work and personal obligations
WCSI: Engagement Letter - (Qualitative Responses)
Focus Areas
• In respect to your development, what are the greatest challenges you face in
advancing to the next level?
• What factors do you attribute to your success at Goldman Sachs?
• Where do you see yourself (professionally) in three years?
• People vary in their approaches to and philosophies about their work. How would you
describe your own style?
WCSI: Program Timeline
Engagement
Letter
Senior
Spotlights
Small
Group
Sessions
Nomination
Process
Closing
Event
Regional
Kickoff
March
April
Monthly
Sessions
May
June
July
Senior Divisional Champions
Manager Checkpoints
Supplemental
Events
(Networking)
August
September
October