Business Notes

Workers Seek More Than Good Wages & Benefits

Most American workers rate having the correct job resources, a good working relationship with their boss and job security even more important than wages and benefits, according to a new survey byTaylor Nelson Sofres Intersearch in Horsham, PA.

When asked to rate the different aspects of their job on a scale of extremely important to not important at all, more than two thirds (69 percent) said that having the resources available to do their job and a good workingrelationship with the boss were extremely important.

Women felt much stronger (74 percent vs. 65 percent) than men on the issue of resources. On relationship with the boss, females (77 percent) felt that issue was more important to them, than men (63 percent). Having up-to-date equipment or the tools to do the job was also rated extremely important by nearly two thirds of respondents (63 percent). More women than men (69 percent of women; 59 percent of men) felt this was extremely important.

Women respondents placed more importance on being able to work at home than men (34 percent vs. 21 percent). While working at home ranked near the bottom 10 of work attributes rated, it still garnered 27 percent as beingextremely important.

For more on the study, visit the Taylor Nelson Sofres Intersearch Web site.

All Agree — Money Not Most Important Motivator

Contrary to common belief, financial gain is not the primary motivator for entrepreneurs of both genders, according to a new study by Cheskin Research on how men and women run their businesses.

The study, "Women Entrepreneurs Study," also found that traditional gender differences still exist. Women entrepreneurs see themselves as having a more difficult time balancing their professional and personal lives than do men. They also rate themselves high on traditionally female traits such as nurturing, compassion, sensitivity and politeness, though they agree with men in the study that these traits arenot essential for business success.

The researchers also found:

• Men and Women differ significantly in their networking skills. Men spend more time networking in order to further their business goals than do women.
• Women and men share the same motivations driving them in their entrepreneurial and business pursuits. However, contrary to the common belief that financial gain is the primary motivator for entrepreneurs in todayıs emerging markets, more interpersonal values take precedence.
• Traditional gender differences still exist. Successful women consider themselves nurturing, compassionate, sensitive and polite, though neither gender considers these traits essential for success in business. Men tend to consider themselves team players more than do women.
• Women see themselves as having a more difficult time balancing personal life and work than men do.

For more on the study, visit the Cheskin Research Web site.

Working Women Saving for Retirement

Women's retirement prospects are continuing to improve, according to a recent survey by the nonpartisan Employee Benefit Research Institute.

Seventy percent of working-age women say they saved for retirement in 1999, up from 58 percent in 1994. However, less than half (44 percent) of working women have taken the crucial step of trying to determine how much money they will need to save for retirement, and 29 percent have not saved anything.

Other major findings include:

• Only 20 percent of working-age women are very confident they will have enough money to live comfortably throughout their retirement years.
• Forty-four percent of women expect that a major source of their retirement income will be money they have saved through a retirement plan at work, and 40 percent expect a major source to be money provided by an employer.
• Among nonsavers, the most common reason for not saving is having too many current financial responsibilities (73 percent say this is major reason).

For more on the survey, visit the Employee Benefit Research Institute Web site.

Barriers to Advancement Surround Women

Despite some highly visible gains, barriers to women's advancement in business still exist, according to a new study.

These findings are reported in the January/February issue of HarvardBusiness Review by authors Debra Meyerson and Joyce K. Fletcher, professors inthe Center for Gender in Organizations at the Simmons Graduate School ofManagement in Boston.

The survey also concluded that the barriers are so deeply embedded in the workplace culture that it will take a strategic, persistent campaign of incremental changes and "small wins" for real progress to occur.

Although only 10 percent of senior managers in Fortune 500 companies are women,it's not just the "glass ceiling" that's the problem, say Meyerson andFletcher in their article, "A Modest Manifesto for Shattering the GlassCeiling." They argue that what is holding women back is "not just above them,it's all around them, in the whole structure of the organization: the beams,the walls, the very air ... most of the barriers that persist today areinsidious — a revolution couldn't find them to blast them away."

The article represents almost a decade of research conducted by Meyersonand Fletcher and their colleagues at the Simmons Center for Gender inOrganizations.

For more on the survey, visit the Center for Gender in Organization's Web site.

Companies Honored for Women Initiatives

Charles Schwab & Company, the IBM Corporation, and the Northern Trust Company have each won the 2000 Catalyst Award for their exemplary initiatives to advance women through their corporate ranks.

Catalyst, a nonprofit research and advisory services organization, annually honors companies for outstanding initiatives to advance women since 1987, evaluating senior management commitment, measurable results, accountability, replicability, and originality.

According to Catalyst President Sheila Wellington, "This year the Catalyst Award appropriately recognizes three forward-looking companies. Their innovative approaches to women's advancement — and the results they haveachieved -- set the highest standard for 21st century business."

For more on the awards, visit the Catalyst Web site.

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