March 6, 2018
FIRST THOUGHT: Equal Pay for Equal Work
We started 2018 with some hopeful global news. For instance, did you know Iceland just became the first country to make it illegal to pay women less than men? Icelandic officials had already agreed to end the gender pay gap by 2022, but with this new law in effect, the gap will close even sooner, as companies and government agencies with at least 25 employees will be held accountable for maintaining equal-pay policies—and fined if they fail. Part of the reason this new law was backed by both political parties is that half of Icelandic lawmakers are women. Today, wherever you are in the world, remember that you deserve equal pay, so fight for it!
WOMEN IN NUMBERS: 1st
There’s no doubt the United States has a long way to go in terms of equality, but let’s celebrate one victory that happened all the way back in 1979. That’s when President Jimmy Carter replaced the Eisenhower Dollar with a coin depicting suffragette Susan B. Anthony. The change in change was a pretty big deal, as this became the first time a woman was featured on a circulating U.S. coin.
WOMAN TO WATCH: Cathy Engelbert, CEO of Deloitte
Ladies, if you know even a little about the money industry, chances are you’ve heard of financial giant Deloitte, which provides all those necessary services we need to keep our finances in line, from auditing and risk-management guidance to tax consulting. More than 80 percent of Fortune 500 folks rely on Deloitte’s professional services. And working as the CEO of a business that touts more than 85,000 professionals takes a lot of tenacity and staying power, and today’s Woman to Watch, Cathy Engelbert, has plenty of both. In fact, she’s the first woman ever to lead a Big Four professional-services firm in the U.S.
Cathy is a longtime financial wiz, having spent more than three decades specializing in all things moolah. She’s been working for Deloitte since the mid-1980s, so, obviously, she really knows her stuff. She’s often asked to share her expertise on a variety of media outlets, from Bloomberg to the Fox Business Network and CNBC, where she discusses her wealth of knowledge in audit practice and financial projections.
Despite her immense knowledge and experience, Cathy wasn’t always headed toward the C-suite. When she became pregnant with her first child and was not yet a partner in the firm, she considered leaving Deloitte. She struggled with the same worries many working women have, including how to balance a blossoming career with a busy home life—and just six weeks of maternity leave. But with some helpful mentorship from her colleagues that provided a boost in her confidence, and a commitment that she could have it all in a way that worked for her, Cathy decided to stay on at Deloitte and has since become a wonderful example of how to find balance in work and life.
Cathy was able to deftly stop self-doubt in its tracks some two decades ago, and she’s become a powerhouse in her field and at her company, focusing on growing innovation and diversity at Deloitte. She also implemented a new family-leave policy that enables workers to have as many as 16 paid weeks off. The legacy she hopes to leave at Deloitte is one of innovation in technology and fairness in hiring practices while also providing millennials, women and minorities the best mentorship and guidance. Now that’s a good investment!
QUITE THE QUOTE
Cathy Engelbert certainly knows all there is to know about the financial world. But it’s her commitment to Deloitte’s employees that is especially impactful. We’re sure she’d agree with this quote from management expert Ken Blanchard. He said:
“The best minute you spend is the one you invest in people.”
This is Melinda Garvey signing off until next time. Remember, ladies, empowered women empower other women. Share On the Dot so more women can have a voice. Thanks for getting ready with us.