NDILC Women Leadership Principle #9: Prepare for the Future with Council Member Dr. Chitra Dorai

NAWRB’s Diversity & Inclusion Leadership Council (NDILC) introduced their Ten Women Leadership Principles in 2020, which they collectively created to help women in the workforce become more effective leaders at any stage of their careers, and empower other women to reach their full potential. This is a universal guide for all levels of leadership, and any woman can benefit from applying them. This week, NDILC presents the ninth principle, “Prepare for the Future” shared with a personal story by NDILC Member Dr. Chitra Dorai, AI Scientist, Founder & CEO, AmicusBrain.

In the upcoming weeks, each of these principles will be presented in detail with a personal message from an NDILC member about her experiences applying these principles to her professional and personal life. To learn more about the NDILC, please visit www.NAWRB.com/NDILC/.

Women Leadership Principle #9: Prepare for the Future by Dr. Chitra Dorai

Prepare for the Future: Women with advanced skills today will be ready for tomorrow’s challenges.

The harsh truth from the latest report from the World Economic Forum, WEF (https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality) is that we will not see the gender gap close in our lifetimes, and nor will parity be experienced in the lifetimes of our children. The single most disheartening finding I read in recent times is that the world will need another 99.5 years to close the gender gap.

Gender parity is all about closing the gender gap that persists in access to Economic Participation and Opportunity, Educational Attainment, Health and Survival and Political Empowerment — the four critical dimensions used by WEF to track and benchmark progress made by countries across the globe.

Too wide to bridge is the gender gap in economic participation. What stands in the way of attaining economic gender parity? Among a number of challenges that slow down making progress, women’s under presentation in emerging roles that show the highest wage growth is a big one. Obviously technology roles that require advanced skills also provide one of the best ways to increased economic opportunity. There are other job roles requiring advanced skills as entrepreneurs and business owners that pave the path to prosperity. Statistics are rife about the deteriorating numbers in terms of women’s participation in STEM fields. Only 15% of engineers are women!

To deal with the rapidly changing, increasingly automated world, women need to focus on acquiring advanced skills by reskilling or upskilling. Learning advanced skills that matter today and beyond is critical in order to take advantage of the opportunities for wage growth and increased access to capital. Women with advanced skills of today will then be able to shape the future and be the future.

Check out Dr. Chitra Dorai on the Know the Rules of the Game Podcast: Defining the FutureClick here

NDILC’s Ten Women Leadership Principles

  1. Acknowledge Trailblazers: Know and learn from the women who came before you. We are all standing on the shoulders of giants: “So, what does a trailblazer even mean? Defined in the formal context, it is a person who blazes a trail for others to follow through unsettled country or wilderness; pathfinder; a pioneer in any field of endeavor; a vigorous independent; a person who is the first to do something that other people do later.  Implied in this definition is the fact that these people are leaders, risk-takers, and are not afraid to push boundaries.” Read More.
  2. Keep Achieving: Effective leaders always keep learning. There is always something to learn and improve upon: “Achieving. Learning. Growing. Changing…all words that are used very often to tell us what we should be doing and what we must be doing in order to survive and be effective in today’s world.  No one would debate the need for continuous learning and growth.  Information continues to bombard us from every angle, but is that really knowledge?” Read More.
  3. Believe: Whatever the mind can conceive, it can achieve. Believe: “Think and Grow Rich is not about money. Does it seem out of place or sorts to reference a book whose title suggests financial aspirations during a once in a century pandemic when everyone is thinking about safety and survival instead of personal growth?” Read More.
  4. Pass the Torch: Give opportunities to future generations of women. Your legacy will be the people you help along the journey: “Doesn’t everyone want a legacy?  A reason to be remembered? What do you want to be remembered for?  As most people mature in their lives, they start to realize that their relationships, and specifically the people they have helped along the way, are more important than material things.” Read More.
  5. Know Yourself: Be authentic and lead in a way that is true to you. Own your unique talents and strengths, and empower those around you: “Authentic leadership is grounded in who you are not who you want to be or who you think you should be. This profoundly shapes how you act and what you accomplish.  Authentic leadership empowers you to draw on your strengths to bring out the best in others.” Read More.
  6. Speak Out: Unconscious bias is present, but ignoring it only perpetuates it. Take a stand and speak out: “How many times should it feel comfortable not to say something when you see unconscious bias? Never! Until recently, most of us were all consumed in catching a flight, running the household from afar, postponing our health checkups, being briefed from one meeting to the next, and fitting in a bite to eat as part of our work agenda.” Read More. 
  7. Listen: Never assume anything about anyone. Everyone has their own story that makes them who they are: To truly “LISTEN” is one of the most powerful words in this decade. In 2017 at NAWRB’s Annual Conference, Marcia Davies was the moderator for the Women’s Trade Associations Power Lunch, and through her questioning, “Listen” became my mantra on how to improve the narrative.” Read More.
  8. Be Present: Sharing your time is one of the most valuable gifts you can give. Do it with intention by truly being present. Staying in the present tense can be difficult, we have more distractions than ever, especially with technology, having so much of your world on your phone. The more you stay present the better you will get at it. It is excellent for your overall health and the quality of your relationships. In leadership, people follow leaders they trust and you cannot build trust without a good relationship. Read More.
  9. Prepare for the Future: Women with advanced skills today will be ready for tomorrow’s challenges. Learning advanced skills that matter today and beyond is critical in order to take advantage of the opportunities for wage growth and increased access to capital. Women with advanced skills of today will then be able to shape the future and be the future
  10. Lead by Example: Inclusion isn’t enough. Press for parity and strive for excellence in everything.

Stay tuned for other articles that will expound on each of these principles to assist women professionals in applying them to their individual goals.

About NDILC

The NDILC is dedicated to raising the number of women leaders and growing women’s employment and empowerment at all levels in the housing ecosystem. The Council, composed of senior executive women, works diligently toward gender equality and obtaining equal opportunity for women across America. To learn more about the NDILC, please visit www.NAWRB.com/NDILC/.

Know the Rules of the GameⓇ Podcast: Life as College Zoomers

Nikki and Veronica

Now that schools have shifted towards using Zoom during the pandemic, what does this mean for students? Find out more in this episode of Know the Rules of the GameⓇ Podcast: Life as College Zoomers with host Desirée Patno, CEO & President of Women in the Housing and Real Estate Ecosystem (NAWRB) and Special Guests Veronica Cheng and Nikki Courtney, who attend UC Berkeley and UCLA, respectively. Cheng, Courtney, and Patno discuss and reflect on rules that students should keep in mind in order to make the best out of their educational experiences amidst Coronavirus.

To listen, click here!

Co-signed a private student loan? Here are tips to protect yourself during COVID-19

As the Coronavirus continues to affect the health of millions of Americans, it also continues to exacerbate the financial struggles that many individuals face during these times. It is critical for those with outstanding student loans to know their options when it comes to protecting themselves and their credit during the pandemic.

While the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides federal student borrowers with financial relief, many private student loan lenders are now offering reductions or suspending payments. As a borrower, it’s imperative to stay up-to-date on the status of your loan, to communicate with your primary borrower about requesting relief if applicable, and to check your credit reports. For more information and tips, you can check out this article by the Consumer Financial Protection Bureau.

FDIC Names Five New Members to Its Systemic Resolution Advisory Committee

As it is quite well known, the Great Depression that started in 1929 had a devastating toll on the American economy, people, and spirit. Because of this, Franklin D. Roosevelt signed the 1933 Glass-Seagall Act which created the Federal Deposit Insurance Corporation. Through this, a new government agency was born to maintain stability and foster public confidence in national banks by insuring depositors in the case of bank failures. Eighty-seven years later, the FDIC still strives to protect depositors by insuring $250,000 per individual.

In 2011, the FDIC created the Systemic Resolution Advisory Committee (SRAC) in order to provide the FDIC with resources and solutions to a variety of financial issues and companies. With 16 members, the SRAC strives to analyze how the FDIC’s authority under the Dodd-Frank Act of 2010 can impact covered individuals and more.

On July 23rd, the FDIC named five new members to the committee. In addition to the current eleven members of the SRAC, the five new members are Dr. Ben S. Bernanke, Gary Cohn, Hon. Robert Drain, Timothy J. Mayopoulos, and Sandie O’Conner. Committee members are chosen based on their wide range of experience in managing complex firms; administering bankruptcies; and working in the legal system, accounting field, and academia.

Click here to view the press release!