If You’re a Short Woman, over 50, & Your Parents Didn’t Go to University….

…then I’m sorry to have to tell you but  you’re probably very risk averse! And here’s why:

In 2004 a validated survey of over 22,000 individuals was taken to determine attitudes to risk taking with money. The analysis reveals several facts:

(1) Women are less willing to take risks than men, at all ages;

(2) Increasing age is associated with decreasing willingness to take risks;

(3) Taller individuals are more willing to take risks;

(4) Individuals with highly-educated parents are more willing to take risks.

Speaking as a 5ft 3inch (and almost a half) woman over 50 whose parents didn’t go to University can this be true? Am I risk averse?

The Institute for Leadership and Management also tells us women are risk averse too and this may account for why we don’t progress onto boards etc. Maybe so but there are a myriad other reasons too.

The implications are that being risk averse is a bad thing (psst, can I just throw in five words here -western world financial melt down).

Maybe definitions of risk are very male? Maybe the female of the species has a different idea of what constitutes a risk? Maybe we are good at evaluating possible negative outcomes? Maybe having babies makes us more protective? (But surely that would be true of chaps too?)

Your Views

Tell me what you think? When did you last take a risk? What constitutes risky behaviour for you? Do you take risks at work? In your experience are you less risk averse than your male counterparts? If so, what do you think possible solutions could be?

Photo Credit by Sanja Gjenaro

Career Tips for Women # 19

Stop being so law abiding!

I don’t mean go out and break the law! But I do mean take a bit of time to consider if you are playing to the rules just a little too much. In my experience women ask for permission to do things much more than their male couterparts, even down to issues about taking allocated leave.

There is a fine line between paying someone the courtesy of letting them know your plans, or asking them to validate them. The latter weakens your position, and can make you appear indecisive.

Look again at your job description if necessary or at colleagues on the same scale. Are you taking full advantage of the power and the authority that you have?

Do you find yourself asking permission a lot at work? I find it tends to increase during times of uncertainty as people’s tolerance of risk is lessened and employees toe the line and try to stay below the radar.

Sometimes it really is better to apologise for something you’ve done that live fearful of overstepping the mark. Most successful people take calculated risks in their roles. Use all your power and personal authority within your role. It’s what they employ you for!

Career Tips for Women # 14

Take a Risk!

Where do you stand on risk taking? Teetering right on the brink or way back out of sight?

Getting the recognition you deserve in your career means taking a few risks now and again. In my experience women are often diffident about risk taking, particularly when it comes to giving their own opinions if they are contrary to others. Some of this can be put down to all that we know about how men and women communicate and differing styles, but it doesn’t have to stay like that!

What’s Your Risk Attitude?

Take a few moments to think about your attitude to risk. When you are stepping outside of your comfort levels at work how do you feel? All fired up and excited, if  a little scared? Or sweaty palmed, sleepless nights and sick to your stomach?

You’ll probably have areas where risk taking is easier than others. Like anything, the more you practise the easier it gets. Start with something relatively easy like offering an opinion that isn’t the same as the norm (assuming it is your opinion – you need to be genuine.)

Steps

Try following these steps:

• Remember that success often comes from failure. We learn from our mistakes only if we critique ourselves honestly. Take out your previous ‘failures’ for a fresh look and list what you would do differently in the light of your subsequent experiences.
• Calculate the risk. It doesn’t have to black and white, pass or fail. Give yourself a little room for manoeuvre. 70% successful can be enough.
• Is the end result of the risk you want to take in line with your company’s mission/vision/business or are you stretching the boundaries too far? If it’s not easy for colleagues and managers to see the benefit your chances of success are very limited.
• Don’t forget the basics. There are all sorts of fancy equations you can do to assess the risk but sometimes just a simple pros and cons list works well.

How do you manage risk?