Fearless 9.30.24

Good morning, Fearless readers:

I hope you are doing well. I have some personal news to share with you.

I recently accepted a job with National Public Radio. I will be part of an investigative team that covers a four-state region: Iowa, Nebraska, Missouri and Kansas.

One kernel came up during the interview process that surprised me: An editor mentioned that few women had applied for the job.

My goodness, I thought, it’s 2024. Why would that be? The question keeps popping into my brain, bugging me because I can’t figure out the answer for certain. I know loads of men and women who are journalists — admittedly, I know more men than women who are investigative reporters.

When men hold people in power accountable, they are called watchdogs, whistleblowers, stewards of democracy, pursuers of truth and justice. When women hold people in power accountable, they are called various four- and five-letter words. Or, they’re not believed.

I’m a big believer that information is power. I hope the information I have provided you via Fearless news stories and Fearless columns has given you more power at work and in life. You will still see my byline for another couple of months in stories I wrote before my departure.

I will be cheering for you, always. You are welcome to email me at my personal account anytime: IowaCzechsAndBalances@gmail.com. It’s been a tremendous honor to write in this space.

In this week’s Fearless e-newsletter, you will find:

A story about how fewer women than men report feeling financially included, according to research by Principal Financial Group. Kara Hoogensen explains why.

A guest column by Holly Stevenson: 10 tips to enhance inclusion of women in our teams.

In the headlines: Women Lead Change announced three honorees for the 2024 Iowa Women of Achievement Award.

In case you missed it: Meet Monica Goodlett, who founded Black Iowa Outdoors earlier this year to share her love for hiking with other local Black and brown Americans.

Lots more!

— Nicole Paseka Grundmeier, Business Record staff writer

Women and men still diverge in how they feel about financial matters. It’s a common finding in surveys and research, including by Des Moines-based Principal Financial Group. The company tracks many trends in consumer sentiment in service of its array of insurance, investment and other products.

A segment of data released this summer noted gender disparities in sentiment about financial access and inclusion. For example, the company found less than 40% of women feel they will be able to live as they wish in retirement; that figure is 51% for men.

"What I would say on a personal basis is that there still is a ton of work to do to make sure that women are feeling financially included," said Kara Hoogensen, senior vice president and head of workplace benefits at Principal.

The data is tied to Principal’s annual Global Financial Inclusion Index; Principal’s full report is expected to be released in the coming weeks. Fearless sat down with Hoogensen to get more insight about the survey results and how to interpret them.

This interview has been edited for length and clarity.

I noticed that women are more pessimistic than men on many measures. What conclusions do you draw from that data?

It does look across almost every measure, there’s at least a 10-percentage-point difference, or thereabouts. What I equate it to is confidence, to be really honest about it. I think we’ve all read different bodies of research that get at this point – that women are generally less confident than men.

We’ll talk about applying for jobs. If a male has three of the 10 needed characteristics, they’ll raise their hand for the position. But a woman will do so only if she has all 10 of the characteristics needed for the job. I think that same concept applies here. I’m making broad generalizations, but the need for more information, the need to understand things to a greater degree, and then having less confidence, contributes to the differences that we see.

It’s fair to point out that no one feels great about their level of financial security; both men and women consumers have less than 50% confidence in their financial security. But you see women having even less confidence than men.

One thing that jumped out to me was the sharp decline overall in people feeling financially included. I think the statistic was 85% in 2022 to 56% in 2024, and I know the survey isn’t really about why people feel that way, but what do you think?

The economic environment has been a key contributor to the year-over-year results in terms of financial inclusion. I also believe that there is an element of uncertainty. If we think about the context for this survey, it is consumers here in the United States. You look at the media, you look at the tone of messaging on social platforms, what people hear in the news – there’s just much more negativity. The current election cycle certainly isn’t helping that situation in any way.

I think it’s this combination of an economic environment that is more challenging, plus the negative tone, and then the third element I would add into this conversation is change. Fatigue is the way I would describe it. Although we’re several years past the start of the pandemic, change is happening at a greater pace than ever before. You hear this saying that now is the slowest that the rate of change will ever be going forward. I do think that, broadly speaking, there’s just an element of change fatigue that exists as well, and that is contributing. I am speculating, but that would be my hypothesis as to what’s going on.

How does the survey inform strategy and products that you work on at Principal?

Whether it’s the Global Financial Inclusion Index, whether it’s our Well-Being Index, or any of the ongoing voice of customer work that we do, we take all of those inputs and really leverage them to think about how we best communicate with our customers. Where might they be needing more information, where might they feel less confident? And are there additional steps that we can take to help make sure that the messages, the tools, the resources that we’re making available, are indeed hitting the mark?

One thing that surprised me a bit was fewer women saying they had access to generous employer-provided insurance coverage. Does that reflect men and women having different types of jobs that offer different benefits, or something else going on there?

Most employers shouldn’t be differentiating the benefits offering based on the gender of the individuals that are in the workplace. But what I do think that that indicates is that the communication approaches that are being used by the employers maybe aren’t hitting the mark with all of their employees equally. So that’s where I think making sure that employers are using more than one medium and, on a recurring basis, ensuring that they’re communicating about the benefits that are available through the workplace and taking the time to reinforce that periodically.

I also think it gets back to the confidence issue – maybe the women don’t feel like they’ve got the time to do the research to make informed decisions or haven’t taken the time to invest in fully understanding the benefits that are available to them. They’re just more time constrained – or, the avenues in which that information is being communicated, they are uncertain of how to access that information.

The state of Iowa has an initiative called SmartHer Money to improve women’s financial literacy. How does that relate to questions of access in the Principal survey? Do you think that could be a solution, as far as education?

I think it all ties together. When you know where you’re starting from, you’re more likely to take action and take the next best step. So a program like the state is supporting is a great foundational step to ultimately get a greater percentage of people, specifically women, in touch with organizations that can help them fulfill the needs that they identify.

Another thing I noticed from the survey: It seems people feel the government is not helping with financial inclusion, although they also have less confidence in financial systems and employers too. How should employers and banks respond to that kind of finding?

When we think about individuals and who they actually look to for guidance and access to resources and tools, it still is their employer at the top of the list. So that’s why a system like our retirement savings system, 401(k), why accessing benefits through the workplace is so important, because employers are a trusted resource, and they’re a gateway to help get important information to the broadest group of consumers possible.

Women in the workplace are feeling increasingly included — the last nine years of countrywide research from McKinsey bears this out. Although these hard-earned gains are encouraging, they are also fragile and require continuous and deliberate efforts from all of us to maintain and enhance them.

Of course, women are not a homogenous group as we are all too often mislabeled — we are complex, intersectional and unique. However, there are thoughtful steps that can be taken to enhance the inclusion and belonging felt by women in our workplace teams. Indeed, all marginalized and underrepresented groups stand to feel an increased sense of value if they are part of teams that make an intentional and unremitting effort to implement the following 10 tips.

Take a number
To include all members of the team, it can be beneficial in team meetings to have everyone draw a number. If there are 10 people on the team, everyone will have randomly been assigned a number between 1 and 10 and will provide input in numerical order. This activity accomplishes a number of things that boost inclusion. For example, members of dominant groups with significant privilege often commandeer conversation, making those of marginalized identities more likely to feel hesitant to contribute. This practice lessens the likelihood of the loudest and most-heard voices from talking first or being the only ones to have their say. Additionally, by knowing the order in which we will be contributing, feelings of anxiety and fear can be reduced for those who are rarely asked for their input or ideas, as there is more often than not time to mentally prepare. The expectations are clear and fair — everyone will be contributing to conversation in a random order, which increases creativity, productivity, trust and, ultimately, inclusion. This technique is best utilized with agenda items where everyone is likely to have input or when we are specifically brainstorming or problem-solving.

Reorganize seating arrangements
In team meetings, we tend to sit by people with whom we already have cultivated a relationship. While mere proximity to people of different identities does not automatically lead to mutual respect and inclusion, it certainly increases the likelihood of finding common ground with others. For example, having colleagues sit in order of the date of their birthday or the first letter of their name helps facilitate conversation with different team members each time and fosters the ability to relate to those different than us.

Ask, listen, act
According to McKinsey’s 2023 report "Women in the Workplace," women are generally less likely to offer feedback or have their thoughts authentically heard or acted upon. One way to ensure that everyone’s input is not only included but also given the same weight is to ask for it anonymously. Many teams are charged with gathering and analyzing feedback from members outside of the team such as in employee surveys, but what about asking your team members how they’re feeling in terms of being a part of the team? Do they feel valued? Do they feel a sense of trust with others? Sometimes, to know if people feel included, and how to perhaps better include them, it is as simple as just asking. People will often tell us their unfiltered view if asked anonymously. Of course, as leaders, we must be prepared for honest and open feedback, even if we perceive it as negative. Additionally, asking for input and then neglecting to act on or see the viewpoints as legitimate is arguably worse than doing nothing in the first place.

Anonymous input
Trying to field ideas, spark creativity or solve a problem? Why not have all team members anonymously contribute their ideas? This can be done the old-school way of writing down our thoughts and placing them in a basket, or there are many platforms that allow for unidentified contributions virtually. When we do not know who has suggested a certain approach, our biases and presuppositions cannot guide our intuitions, and every suggestion is given equal consideration. Not only will creativity be greater among the team, as members will not have to worry about a hurt ego or appearing foolish, but results will be enhanced as a consequence of everyone having presented an idea and having more potentialities to consider.

Give credit
A recent study by Harvard University found that women are, on average, 30% less likely to receive credit for their contributions and successes than their male counterparts. Moreover, they are also five times more likely to have the praise misattributed to a male counterpart. Increasing our awareness of our team members’ involvement and congratulating accordingly goes a long way in enhancing inclusion. When we are not thought to be appreciated, we feel undervalued and withdraw from fully engaging or trying our best. Cultivating a habit of celebrating even small wins allows us to increase our awareness of the contributions of all team members. Moreover, if you see credit being misattributed, it is perfectly acceptable to raise that in a respectful and noncombative manner. For example, "That is an interesting elaboration on Jennifer’s idea," is far more productive than the accusation of, "Mark, you stole Jennifer’s idea!"

Active listening
Being sure that we are actively listening to all members of our teams is best practice. However, on average, women are far more likely than their male colleagues to be spoken over, interrupted or ignored. Being conscious to maintain eye contact, refrain from yawning and clearly being visibly engaged can help women feel empowered to occupy space and air time. There are ways that we can interject when we see others being silenced. "I’m not sure Anne has finished her thought," or "As Bridget said earlier," are ways we can politely redirect the conversation and interrupt biased behaviors to ensure that non-inclusive practices do not become normalized.

Connection before content
Due to our busy lives, we can become, out of necessity, task-oriented and neglect focusing on our connections with those we work alongside. Before launching into agendas and objectives, it can be beneficial for inclusion purposes to have an icebreaker question, ideally one in which the team is made aware of in advance, which allows individuals to build strong relationships with others. We will likely learn that we have something in common with everyone, despite our surface-level differences. When we can relate to others, our brains are automatically more receptive to them and their perspectives, which in turn enhances inclusion and feelings of safety among members of the team.

Flexible work arrangements
In the U.S., according to the National Institutes of Health, two of every three women in the workplace also take on "significantly burdensome" caregiving duties in their personal time. Therefore, to facilitate women showing up to work as their best selves, it is important to be flexible wherever possible. Work flexibility does not only include where someone logs in on their computer but also when they do so. For example, allowing a parent to spend time attending sport commitments with their child after school hours and resuming work in the early evening allows for work-life harmony, less stress and guilt on behalf of the woman and enhanced productivity. In many instances, we do things a certain way only because that is the way we’ve historically operated. However, need it be? Perhaps it is hindering inclusivity.

Normalizing menstruation
Many women in the workplace menstruate, and the taboo associated with this normal feature of the female body should not be a source of shame or embarrassment, but it often is. When women cannot voice how they are feeling without fear of embarrassment or sexist jokes, there is the added stress to conceal our struggles, which causes distrust and distraction. Normalizing such subjects as menstruation can allow for enhanced inclusion, as nobody is fearing judgment — instead, employees will feel supported by their team members during potentially difficult times.

Breaking stereotypes
Think of the last time someone needed to take notes, order food, make a copy or clean up in the workplace when it wasn’t their specific job to do so. It is highly likely that person was a woman. According to Forbes, men are 77% less likely to offer to take meeting minutes if women are present. Having a revolving notetaker or ensuring someone does not take notes twice in a row can be helpful in reducing this problem. Assigning women, or defaulting to the women on the team completing tasks historically associated with gender roles, is not necessarily intentional, but without specific attention it can quickly become the precedent. This results in women not being valued for their expertise; rather, the team adopts a stereotypical mold. Being a team player is important, but administrative duties should not default to women — especially when it is not their job to do such tasks.

Three honored with Iowa Women of Achievement Awards: Women Lead Change has announced three honorees for the 2024 Iowa Women of Achievement Award. They include: Teree Caldwell-Johnson (1956-2024), a community advocate and public servant; Joan Liffring-Zug Bourret (1929-2022) a photographer, book publisher and civil rights activist; and Martha-Ellen Tye (1909-1998), a youth, arts and community advocate and philanthropist. The Women of Achievement Award recognizes the contributions of historical Iowa women who made outstanding and lasting contributions to the citizens of Iowa, the nation and/or the world. In addition to permanent plaques placed on the iconic Iowa Women of Achievement Bridge in downtown Des Moines, friends and family are invited to celebrate at the awards luncheon, in conjunction with the Women Lead Change conference, which will be held from 11:45 a.m. to 1 p.m. on Oct. 16 at the Iowa Events Center in Des Moines. Registration can be found here.

Art Center director is admitted to Association of Art Museum Directors: Kelly Baum, the director of the Des Moines Art Center, has been admitted to the Association of Art Museum Directors, according to a news release. Baum’s membership will let her collaborate with colleagues on issues confronting art museums and best practices, the Art Center said. "I am thrilled to join AAMD and partner with other museum directors from Canada, Mexico, and the United States," Baum said in a prepared statement. "AAMD is more than a professional organization: it is also a peer network, a brain trust, and a pacesetter that responds proactively to the most pressing challenges and greatest opportunities facing art museums today."

Ringgold County official who alleged discrimination, vehicular assault, settles for $500K: A former county official in rural Iowa who alleged she faced sexual discrimination from county officials, and was assaulted by one of them and then wrongly arrested, will receive a $500,000 settlement, according to her attorney. Kathryn Zimmerman worked more than a decade as conservation director for Ringgold County before she resigned in 2023. In her lawsuit, filed in June, she accused the county Board of Supervisors of disparaging and harassing her and blocking her from performing her job duties because of her gender. Formal complaints resulted only in further harassment and retaliation, she alleged, according to this story in the Des Moines Register. Zimmerman was the subject of a June 2023 Business Record Closer Look profile.

Iowa woman leaves more than $1.3 million to 7 Fort Dodge organizations: Bonnie Barnett was a hard worker who lived a modest life in Fort Dodge. Few knew she had saved a small fortune by often working two jobs until her death last fall at the age of 80, according to this story by KCCI. In her will, Barnett gave more than $530,000 to Iowa Central Community College, money that will be used to create an endowed scholarship in her name. That and gifts to the local YWCA, Trinity Health Foundation, Domestic Sexual Abuse Outreach Center, Humane Society of Central Iowa, and the Boy Scouts of America Troop 8 totaled more than $1.3 million.

Women in the Workplace 2024: The 10th-anniversary report (McKinsey and Co.). Women entrepreneurs are hitting a funding wall (New York Times). For some parents, surging child care costs could determine how they vote (Washington Post). Sheryl Sandberg discusses women’s advancement at work: Progress is ‘pretty fragile’ (CNBC). Deadly high blood pressure during pregnancy is on the rise (NPR). How work has changed for women in corporate America over the last 10 years (Harvard Business Review).

Monica Goodlett fell in love with hiking on the New River Gorge Bridge in West Virginia.

At the time, the registered nurse from Iowa had taken a position in nearby Charleston, hoping to break out of a rut.

The bridge, which is featured on West Virginia’s quarter, is a feat of modern engineering that offers breathtaking views of the Appalachian Mountains and the paradoxically named "New" River, which has been winding through the mountains for 32 million years.

The juxtaposition of the ancient landscape and modern design kept Goodlett coming back to the trails again and again, despite the physical difficulty of those first few hikes. "Seeing that incredible view after going through all that sparked everything for me," she said.

The call of the wild followed Goodlett when she moved back to Iowa in 2022. She founded Black Iowa Outdoors earlier this year to share her love for hiking with other local Black and brown Americans. Each month, she leads a group of up to 30 hikers of all levels along the trails and into the woods in Central Iowa.

She hopes the group will help her community reconnect with nature and get some exercise. "There were other hiking groups, but they didn’t quite fit," she said. "I wanted to be among other African Americans and also inspire them to get outdoors."

Goodlett also uses the hikes to promote mental health in the Black community, which is one of her passions. She is an ambassador for the statewide "Make It OK" initiative. "It’s not always about medicine or other coping mechanisms," she said. "Just getting out there and walking can give us purpose."

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