Pace University’s Women’s Business Center



Barry Miller, Ph.D

Manager Alumni Career Programs and Services

Pace University

212-346-1540

bmiller@pace.edu

Pace University’s Women’s Business Center

Discussion Document

May 19, 2006

I. Introduction

Pace University is a thriving institute of higher education offering 58 master degree programs, four doctoral programs and ever increasing reputation of excellence. Its 14,000 students and 100,000 alum have made an impact and known presence in the downtown NY area. The University has made visible commitments to academia, the community, and has received national recognition for noteworthy achievements (e.g., one of the nation’s outstanding law schools, one of the top 1000 entrepreneurial colleges). As stated in its 2005 annual report, Pace University “is embracing a comparable era of opportunity and innovation” and “enables its students to succeed in a rapidly changing and competitive world.” Pace University has the opportunity to lever these strengths, commitments and promises by taking a leadership role in the business community through the formation of a Women’s Business Center. This center would focus on supporting and advocating women -- students, alumni and women in New York City’s business community --both personally and professionally.

II. Market Dynamics

A. Corporate

There is clear evidence that there is a disconnect between corporate policy and market dynamics. While there is discussion and publicity around work/life balance at the “executive levels”, companies have not, for the most part, been innovative in introducing policies and programs that are truly responsive to employee needs who require flexibility. This has in particular, had a daunting impact on professional women who are striving to manage their work and personal lives. As a result, there is a steady and increasing exodus of professional female talent leaving the workplace and not returning.

B. Consumer

• Businesswomen hold their own in corporate America. A growing number of women hold advanced degrees, are proven professionals, and want to work. Increasing numbers of women hold advanced degrees (59% of MBAs, 56% of Bachelor’s Degrees, 52% of Law Degrees, 50% of Doctoral Degrees, 50% of Accounting Degrees, 44% of Medical Degrees (U.S. Census Bureau, 2002). The largest percentage of employed women (38%) worked in management, professional, and related occupations (U.S. Department of Labor, Quick Stats, 2004).

• They are a force to be reckoned with. Women are projected to comprise 47% of the total labor force in 2012, as they did in 2003. They will also account for 55% of the increase in total labor force growth from 2002-2012. There were 64.7 million employed women in the U.S. in 2004. 74% worked full-time, while the remaining 26% worked part-time. (U.S. Census Bureau, 2004)

• Professional women from minority backgrounds will continue rapid increase. Labor force participation rates for women, by race, were: black, 61.5%, white, 58.9%, Asian, 57.6%, and Hispanic, 56.1% (U.S. Department of Labor, Quick Stats 2004). In fact, 75% of growth in the U.S. population will come from ethnic groups. Specifically, the 20-year growth rate for the Asian market will be 68.3%, Hispanic market, 67.8%; the African American market, 26.7%, remaining population, 7.4%; and the total population, 19% (U.S. Census Bureau, 2004).

• Opportunities for professional women returning to work are often limited. “95% of women, who have left the workforce, would not consider going back to their previous employers. Only 66% of “high potential” women – highly qualified women not part of the workforce – would like to return to full-time jobs.” (“Off-Ramps and On-Ramps: Keeping Talented Women on the Road to Success;” Center for Work-Life Policy/Harvard Business Review Report, February, 2005).

• Women, who ascend, over time, have markedly different profiles. “49% of ultra-achieving career women (earning more than $100k) ages 41-55 are childless. 33% of high-achieving career women (earning $55k-$66k) ages 41-55 are childless; 57% are unmarried. By contrast, the more successful a man is, the more likely he has a spouse and children. Only 19% of ultra-achieving men are childless and 17% are unmarried.” (Sylvia Ann Hewlett, January 2001 survey).

• Caregivers are predominantly female. 73% of caregivers are women. The typical caregiver is a married woman in her mid forties who works full time. (American Society on Aging, 2000.)

C. Mainstream Media Coverage

In general, the media has handled the work/life balance issue as one that is social and emotional in nature, which has not moved the work/life balance agenda forward in a progressive, meaningful way. In fact, it has marginalized the discussion given the limited focus on:

• The problem and it’s effect – child obesity, failed marriages, obsession with materialism

• The controversies – our generation vs. previous, rifts between working and non-working others, deadbeat husbands

• Coping mechanisms – how women need to try/work harder – be better organized, better time managers, etc.

III. Peer Institutions

There are a number of institutions that have studied flexibility and are working to “move the agenda forward.” Some key and recent examples of these institutions and work include:

• Georgetown University’s Workplace Flexibility 2010 is aggressively working to change the political landscape in Washington so that bipartisan support for flexibility becomes a reality. To that end, they are working to establish a bi-partisan Caucus on Capitol Hill focused on workplace flexibility and to mount a major campaign to have highly diverse stakeholder groups sign onto a set of “Principles for a More Flexible Workplace.” The Caucus and Principles represent tangible means by which diverse stakeholders can begin to find common ground in an effort to promote public policy around workplace flexibility.

• Boston College - Since its founding in 1990, Boston College Center for Work & Family (CWF) has been a national leader in helping organizations create effective workplaces that support and develop healthy and productive employees. CWF has provided a bridge linking the academic community to the world of the work/life practitioner.

• Harvard Business School – Harvard Business School professor Myra Hart, an expert in high potential entrepreneurship, has offered several programs over the years to help HBS alumnae quickly regain the skills they need to re-enter the work force. This spring she brought together faculty and staff to create New Path: Setting New Professional Directions.

IV. The Opportunity

A Women & Business Center that will voice, address, publicize, and advance key workplace, personal and family related issues that female professionals are challenged by. As a result, it can attract three main audiences:

• Prospective students - to register at Pace as they will see it as a school that understands, supports, and advances the needs of young women.

• Key corporate executives - to consider Pace and the quality of its student base worthy for recruitment.

• Alumni - to participate in the Center’s formation and development as well as benefit from its services.

This Center can serve to rebrand Pace to these three audiences as the place for women thereby building its reputation and attracting these audiences.

(Note: Initially, this Center can take the form of an on-line center that can built or integrated with Pace University’s public site. It can be launched by a group of NYC business leaders in partnership with Pace University and deliver/feature some key elements noted below. This can provide a cost effective way to pilot the center and take advantage of key experts/content that exists on the subject of work/life effectiveness, supporting and guiding professional women, and related subjects.)

Key Center Benefits

• Workplace, personal and family related information impacting the modern corporate female professional.

• Clearinghouse for programs and services available on women in workplace.

• Seminars and workshops on business, personal and family issues that impact working women.

• Creation of communities to facilitate the networking of professional women who share similar interests.

• Be a catalyst for changing the corporate culture to create a female friendly environment.

• Provide continuing education for human resources, general management and work life professionals on women’s issues in the workplace.

• Provide in-house training to corporations for top management, middle management and supervisors on programs from design to implementation

• Ability to pair up mentors and mentees to share best practices and approaches to work/life effectiveness.

• Develop courses as well as integrate components of work life into the business curriculum.

• Study how changes in the demographics of the family impact on business.

Key Components

Programs for women in the workplace

Target - female professionals in NYC-based companies concerned with effectively managing their professional and work/life

• Sample programs: career management, work life balance, entrepreneurship, networking events, mentoring.

• Dual Careers

• Stress Management

• Parenting for working professionals

Research/Work Life Best Practices Institute

Target - HR, OD professionals and managers responsible for program implementation.

• Programs that support the advancement of women in the workplace

• Work-Life Initiatives

• Child Care

• Wellness programs

• Employee Assistance

• Implications of families and work including: single parents, divorce, recoupling and stepfamilies.

• Initiatives to support women in the workplace

V. Objectives & Goals

• Build Center by 200x

• Build ancillary off-line center by 200x

• Attract x% additional female students to Pace over last year, three years

VI. Key Stakeholders & Benefits Realized

• Prospective Students – to think of Pace as a school that understands the needs of young women.

• Corporations – to think of Pace when increasing their outreach to recruit women due to the quality of the student base.

• Alumni – to profit from the kind of community being built within Pace and in the business community

VII. ROI (TBD)

VIII. Timeline & Milestones (need to add start/end dates)

• Gain internal approval and support for Center – approval from the Dean of the Lubin School of Business.

• Gain external support and consensus for a Center –corporations, women’s professional organizations, Pace Alumni.

• Form a committee that will establish purpose, scope, budget, and other key elements to build a Center.

IX. Key Dependencies

• Dean of Students, other Pace

• Mayor’s Office

• Key NYC Corporations

• ? – who else

They wrote up the proposal based upon my vision.

FlexPaths Principals

FlexPaths works with Fortune 500 companies to establish a progressive employment infrastructure that proactively addresses the life stage requirements of employees. FlexPaths is also the creator of the first on-line marketplace to connect top tier employers with “talent in transition” seeking work-life effectiveness.

Meryl Rosenthal, President

Meryl Rosenthal is President and co-founder of FlexPaths. With nearly 20 years of experience working in top tier companies, Ms. Rosenthal has held significant leadership roles. Most recently, she was Chief of Staff for the President of New England Financial (NEF), a MetLife affiliate. During this time, she was responsible for strategic planning, internal and external communications, spearheading growth initiatives and served as co-chair of MetLife’s Individual Business’ Diversity Committee. Ms. Rosenthal’s role at NEF allowed her to focus on initiatives designed to improving the company’s position in the workforce, workplace and marketplace.

Before joining MetLife, Ms. Rosenthal served as President of Guardian Trust Company, a subsidiary of Guardian Life Insurance Company. Ms. Rosenthal was appointed to this position after working on the senior leadership teams of the broker/dealer and group insurance business lines. During her tenure at Guardian, she worked cross-organizationally to introduce key initiatives to the company’s field management. Additionally, Ms. Rosenthal was instrumental in leading Guardian’s Women’s Initiative to attract and retain women as employees, agents and clients. Ms. Rosenthal received several corporate awards for her work at Guardian Life. Ms. Rosenthal holds an undergraduate degree in Marketing from Pace University.

Robin Roschke, Chief Operations Officer

Robin Roschke is Chief Operations Officer and co-founder of FlexPaths. Ms. Roschke has 15 years of experience working in financial services. She is a marketing executive with a proven success record in new ventures/initiatives, particularly in Information Technology. Within financial services, Ms. Roschke most recently reported to the Guardian Life Insurance Company’s Chief Information Officer and was in charge of new initiatives and ventures. This included all e-business and enterprise efforts. With a $75+ million project portfolio, Ms. Roschke incorporated an ROI based business planning approach into all new projects and was accountable to multiple stakeholders for on-time, on-budget delivery and user adoption results. Additionally, Ms. Roschke was responsible for all technology communications and organization development.

Before joining Guardian Life, Ms. Roschke worked at Chemical Insurance Agency (currently, JPMorgan Chase) in the product development arena. In this role, she introduced Chemical’s first online term quoting engine and supported the development of in-branch sales distribution of insurance products. Ms. Roschke holds a Masters in Business Administration from George Washington University and has won several awards for her work.

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