Experts will address the challenges facing women in business during the NJBIZ panel

Women have made significant progress in the workplace over the past three decades, but they still face challenges in reaching their full potential.

Of the 4.2 million people in New Jersey’s workforce, women make up 47 percent. And although the percentage of women with a bachelor’s degree or higher is slightly higher than that of men (41% to 40.5%), they still earn less.

In addition to being overpaid and underpaid, women also face gender-based discrimination in the workplace and in business.

Despite great progress in education, health care and community services, women have not made as much progress in other sectors. Many industries are dominated by men, such as natural resources, construction and maintenance (98.8%); law enforcement (86.9%); Architecture and Engineering (86.7%); and transportation (85.7%).

The labor force participation rate among women has largely recovered across the state following the pandemic, but thousands are still paying full-time jobs, higher wages, health insurance and other perks to care for young children and aging parents.

And, as New Jersey’s economy continues to heal from the Covid-19 crisis, more attention is being paid to what changes are needed to better support women moving forward.

During a Dec. 14 virtual panel discussion at NJBIZ, female executives from New Jersey-based companies spoke about their experiences and offered guidance to the next generation of women entering the business world.

The panel was moderated by NJBIZ editor Jeffrey Canige.

• Elaine Costan, Chief Human Resources Officer at Berge Inc., a leader in the Carterat-based flavor and fragrance industries.
• Kate Janukowicz, Director, Commercial and Criminal Litigation and Career Development, Retention, and Associate Recruiting Director at law firm Gibbons PC in Newark.
• Masha Sherman, Chief Financial Officer of Greek Development Inc., a vertically integrated, industry-focused real estate firm headquartered in East Brunswick.

During the 90-minute discussion, the panel delved into how companies can add more women to leadership, what needs to be done to keep them, how virtual work environments can promote women’s advancement in the workplace, confronting challenges and setting boundaries. Work-life balance.

Clockwise from top left: Dec. 14 NJBIZ Women in Business panel discussion, moderated by editor Jeffrey Kanige, panelists Kate Janukowicz, Gibbons PC; Elene Costan, Berjé Inc.; and Masha Sherman, Greek Development Inc. – NJBIZ

It is one of the best tips not only for yourself but also for other female colleagues. And while each of their companies offers some formal mentoring program, the executives also talked about the importance of informal mentoring opportunities.

At Gibbons, Janukowicz said the firm has large advisory groups that feature members from different functional areas and smaller advisory groups.

“Really having that clear communication, going in and constantly asking, ‘Is this where you’re going in the right direction? Is this what you want to do?’ And because you’re stuck in the job without losing yourself, and six years later you’re like, ‘What am I doing? Is this what I want to do?’

“It’s about giving back,” Sherman said. I personally love mentoring — publicly, publicly — because I’ve worked so hard to get to where I am today, and if I can inspire anyone and give them practical advice on how to succeed in their careers… it’s the least I can do.”

“We need to support each other in life and at work,” echoed Kostan.

Janukowicz agreed: “I feel like the women who work best here are the support system and the support. No contest… it makes you look good. It lifts everyone up… if you’re too cut, it’s not a good look.

Recruitment and retention.

Each executive highlighted the processes used to hire employees, which differ between companies.

Janukowicz said, “One of the initiatives we’ve done here at Gibbons is getting Mansfield certified — that’s a certification that more than 100 law firms nationwide are signing on to. One of the things we do in our hiring process with third-year-plus associates is to make sure at least 30% of the candidates we interview are from underrepresented populations. LGBTQ and Disability Advocates.

At Greece, Sherman said, the focus is “on trying to make some of the key processes in recruiting and recruiting as realistic as possible, and setting the same standard by which you treat everyone, regardless of their background.”

“I believe it starts with the hiring process. What we’ve done with the departments is to develop different tests by class level. Regardless of where you come from in the real estate industry or if you’ve been out of the workforce, the tests are really objective and we’re giving the same test depending on the position to everyone who comes in the door. A few years,” she said. “The test is designed. [to measure] Intelligence – Analytical skills, critical thinking and creativity. Making the process as realistic as possible and putting everyone through the same test has worked really well for us.

Janukowicz urges job seekers to “do as much research and get as much intel as you can” about an employer and ask, “If this is a good fit for me?” Ask yourself.

“This is your job too. Don’t get lost in wanting to be chosen. You know, this is your show,” she said.

Replay: NJBIZ Panel Discussion: Women in Business

Click the link to watch the full panel discussion!

Retaining talent is just as critical as attracting it, the executives said.

“As is often the case, it’s a matter of … making sure you keep those people,” Janukovich said, adding that some of the company’s retention initiatives include offering “more flexible or flexible work schedules” and “flexible work environments.”

Costan said, “Sustainable leadership is really not just about the environment, it’s about what you do to sustain your employees. That goes to gender, that goes to generation and race. Many companies are asking us to provide certification to demonstrate our efforts in recruiting, retention and training to prove that we stand out. So, I think it depends on both partners – the employer and the employee. You have to commit to each other to make it work.

Sherman agrees that it’s “really a two-way street.”

“It’s really about relationships. Everyone should know and talk to their manager, especially if they are motivated to move to the next level… On the other hand, it’s our responsibility to manage, when someone is working really hard but they avoid taking it up,” she said.

The executives also spoke about the importance of continuing professional development.

Sherman said, “Sometimes all it takes is pushing your boundaries—your personal boundaries—and pushing yourself out of your comfort zone. You must be your own biggest advocate. I strongly believe that when people are in management positions, it is their responsibility to advise and pay attention, it’s a two-way street,” he said.

Costan urges women to find a coach and invest in yourself.

“Make sure you never stop learning… Make sure you know what your skills are and be open to criticism and improvement. Imposter syndrome never goes away and that’s not a bad thing. It makes you learn,” she says.

Although every company conducts specific employee evaluations, executives believe that employees should monitor their achievements and how they relate to their overall work goals.

Janukowicz said that in the business world, men are generally promoted “based on their luck or ability,” while women are promoted “based on their track record.”