Why Relational Capital—or Your Personal “Board of Directors”—Are Central to Leadership
Yesterday we kicked off two Women in Leadership and Learning Programs (WILL) for one of our clients in-house and our public offering. I’m reminded of a crucial distinction that we’ll discuss at length during WILL: why it’s critical to create a diverse, supportive, and respected circle of relationships.
One of the top three areas where women admit they fall short is having a supportive and influential network. Men are traditionally known not only for advocating for others but leaning into their relationships to facilitate their own advancement. Yet women often lean more on their work accomplishments and credentials—and we know this isn’t enough.
The sponsorship gap is another contributing factor for women when it comes to professional relationship building. In SHAMBAUGH Leadership’s recent “Women Rise Study”, sponsorship was identified as one of the top three challenges for women’s career advancement.
The Why for Strategic Relationships
- Provide guidance in navigating organizational dynamics and politics
- Access to new opportunities that enhance visibility and career growth
- Gain constructive feedback that helps identify and leverage natural strengths and important blind spots
- Expand knowledge and business acumen and industry trends
- Sounding board for dealing with work/life and well-being
What’s more, research supports the value of strategic relationships, also known as “relationship capital”: 88% of leaders believe relationships are key for advancing, allowing leaders to get things done through others.
People Need People
It’s difficult to ascend and achieve your highest goals without supportive relationships. You need ambassadors—people who can give you feedback and guidance, or believe in you to take a shot for a new role. I often refer to the group you need to assemble around you as your personal “board of directors.”
How do you initially cultivate—and then continue to tap into—these strategic relationships? At SHAMBAUGH’s WILL Program and our Executive Coaching for women, we go into detail about these strategies you can use:
- Network with purpose. Have an intentional plan that supports your “top of mind” goals and challenges. Initiate the conversation—get to know them and how they can help you.
- Get in their radar. Don’t wait for others to reach out to you; create an opportunity for them to see you in action and the value you bring.
- Leverage your network to help them. For your board of directors to work, believe in the law of reciprocity. Make an introduction to someone they can benefit from in your network, or bring ideas and solutions to address their current challenges.
- Focus on cultivating sponsors. Be clear about what you’re looking for and how they can help. Champion opportunities where they can see you and your capabilities in action.
- Be inclusive—expand your thought partners and strategic thinking. Tap into a diverse range of individuals inside and outside your company to engage in problem solving, ideation, and critical thinking.
The benefits of expanding your relationship capital include allowing you to expand your visibility, access new opportunities, and enhance your strategic leadership while staying in tune with important changes and trends.
If you’d like to learn more about this topic particularly as it relates to Sponsorship or Strategic Relationships, please let me know so we can send you some additional resources. Or if you or your team have advice for women in leadership that you’d like to share or questions you’d like to ask about this topic, please reach out to me at info@shambaughleadership.com.
Link to SHAMBAUGH’s offerings on Executive Coaching, Leadership Development, Coaching and Development Programs for Women, Keynotes, and Fireside Chats.
Rebecca Shambaugh is President of SHAMBAUGH Leadership, Founder of Women in Leadership and Learning, and author of the best-selling books It’s Not a Glass Ceiling, It’s a Sticky Floor and Make Room for Her: Why Companies Need an Integrated Leadership Model to Achieve Extraordinary Results.
Find out more about us at: www.shambaughleadership.com
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