EKMH Innovators Interview Series
An interview series spotlighting global tech influencers, disruptors, visionaries, and of course, innovators. Commit to innovation: VOTE.
Ellevate Network, the largest community of women at work, ignites a powerful coalition of ambitious and supportive women around the world who believe there is strength in numbers. As the Ellevate Network CEO, and a venerated Innovator, Virtual Speaker, Advisor, Board Member and Podcast Host, Kristy Wallace continues to redefine networking and connecting global women in business. Effective networking remains critical for women in every step of our careers; Wallace and her Ellevate team not only offer essential mentoring, roundtable access, playbooks, community chats, events, podcasts and webinars to their members and the community, but also work with and support companies committed to diversity and inclusion, by providing an effective framework for companies to be leaders in diversity, attract top talent, and retain high performers through customized programming, access to career resources and top notch events.
Wallace drives the overall strategy and vision at Ellevate, redefining how women network in the digital age. Her 20+ years of experience in solving problems, building and scaling businesses, reimagining industries, and cultivating strong successful teams has prepared her to lead during a time of exciting business transformation, innovation and growth.
If you haven’t tuned in yet, I highly recommend listening to the revelatory Ellevate Podcast: Conversations with Women Changing the Face of Business. Full disclosure: I’m hooked! Having this type of access to powerful women CEOs and leaders benefits, connects and inspires generations of listeners. Listen to one of the over 230 podcast episodes and it won’t be your last! How can one not value the high level of candor and expertise of Wallace, the inimitable Ellevest Founder and CEO Sallie Krawcheck, her co-host Ellevate Network VP Maricella Herrera and their guests’ diverse views on Leadership, Career Trajectory, Networking and Entrepreneurship?!? This podcast is meant to be shared and celebrated… and more importantly, to create conversations and enact enduring change. Don’t miss it!
In addition to her career, in her free time Wallace strives to support women and girls to achieve their dreams in her roles as an Angel Investor with Pipeline Angels and Portfolio; a Member of the UN Women Global Innovation Coalition for Change; an Advisor for the 92Y Women in Power Fellowship for Rising Female Leaders; on the Advisory Council for the Villanova University Innovation, Creativity, and Entrepreneurship Institute; and Co-Chair of the Leadership Advisory Board for the Girl Scouts of Greater NYC.
Always inspired by her podcasts and germane Morning Boost newsletters, I’m thrilled to interview Wallace! She’s a guiding force and vital leader in countless powerful ecosystems, tirelessly connecting people and fomenting limitless opportunities, relationships and possibilities. As an entrepreneur, innovator, board member, active community volunteer and CEO, Kristy Wallace consciously chooses to enact change and make a difference. I had the pleasure of connecting with Wallace via email to discuss her views on a variety of topics including the importance of networking, the benefits of joining the Ellevate Network, the need for powerful women role models, pivoting during COVID-19, diversity, equity and inclusion. Our interview follows.
EKMH: We increasingly see the word ecosystem in the news. How has having an ecosystem helped you navigate your career and how has it helped you in your current role as Ellevate Network CEO?
Kristy Wallace: When I think of the term ecosystem, it means so many things. It is the give/get that comes with building mutually beneficial relationships. It is the depth of community that ensures you have someone to turn to at any time. It is the ongoing living breathing force that keeps sustaining even when you need some time away. It is the ever evolving organism that pushes you to be better, to learn, to adapt, to grow. An ecosystem has helped me at Ellevate Network because that's what we've built -- a place where you can help others and be helped, a community that keeps evolving and keeps moving forward. A coalition for progress where you'll always find your Squad that has your back and helps you achieve success. I've been fortunate to find this throughout my career and as the CEO of Ellevate, I'm committed to ensuring that everyone has access to the professional support they need.
Nasdaq meets the Ellevate Network. CEO Kristy Wallace surrounded by her family and team.
EKMH: What is the value of networking? How can women shed its stigma and often negative connotations to network more effectively? What tips do you have for extending (rather than burning) bridges while working remotely?
Kristy Wallace: Networking is invaluable. Your network equates to opportunities, advice, support and more. I encourage people to network every week. Personally, I schedule regular time on my calendar and keep a list of people to reach out to. When I read articles and listen to podcasts I always think about who else would appreciate the topic, and then I share it with them. My biggest piece of advice for virtual networking is to engage with others at virtual events. Use the chat feature to share info on yourself (where you are joining from, your LinkedIn profile) and comment on the parts of the event that resonate with you. Networking is often seen as something negative but it isn't. The key to networking is to think of it as relationship building and to find the method of networking that is most authentic to you.
EKMH: Could you please share some examples of how women benefit from joining Ellevate Network?
Kristy Wallace: One of the greatest benefits of Ellevate Network is the community. The weekly Roundtables where you are connecting with a small group of professionals at a similar career stage such as working moms, seasoned professionals, business owners, senior executives, and managers have been proven to offer immeasurable support and advice.
Ellevate Squads are small, diverse groups of women at similar points in their career. This twelve-week program allows you to make your future a priority - you'll spend 30 minutes each week video conferencing with driven, intelligent and supportive women. Not only is this a great way to tap into the power of our community, but over 80% of participants have said they are more comfortable with taking the next step in their career and accomplishing their goals.
Ellevate also has over 40 local communities such as San Diego, Los Angeles, Austin, Atlanta, Chicago, Washington DC, New York and more. Especially during this time when we're working from home, tapping into the virtual networking events and meetups hosted by each community is the ideal way to grow your local network.
EKMH: Your captivating Harvard Association for Law and Business (HALB) interview hosted by Genevieve Antono began with a childhood anecdote about you and your twin sister, aka Mother Theresa and Leona Helmsley. You were tagged as the unforgettable hotelier. I could not stop laughing and of course want to learn more! How can girls unabashedly embrace being aligned with the gamut of powerful women role models?
Kristy Wallace: Thanks for bringing up this story! I now have two young daughters (and a son) of my own and talk to them about role models in our f8amily, local community, politics, business and media. I always ensure that we look to a diverse array of role models so that my daughters understand that there are many ways to lead and also that everyone should have the opportunity to lead.
When so much of business leadership still "looks" the same, it is important that we help breakdown these stereotypes for the next generation. I take my kids to work with me so they will learn from watching me as CEO but also from my spectacular colleagues. I'm also on the Leadership Advisory Board for the Girl Scouts of New York and was a Girl Scout myself growing up. Just as professional women need networks for support and advancement, so do girls. The Girl Scouts is a great community to tap into.
EKMH: What makes a leader effective?
Kristy Wallace: I've found that genuine curiosity about the world, people, industries, and innovations have helped me to expand my thinking in ways that benefit business. Listening to others -- employees, customers, partners -- is also a powerful leadership trait. As a leader, people look to you for the answers and you can easily fall into a trap of "talking first." I try to sit back and listen so as to learn and better understand the needs of others and how I can best solve them.
EKMH: How have you benefited from failure and/or taking risks?
Kristy Wallace: Absolutely. The fear of failure is real, and it is intimidating. But I've often found that failure pushes me to see things differently, to take new risks, to push myself towards the next hurdle. We should reframe failure. Businesses don't succeed the first time you try -- it takes pivoting, iterating, evolving. Breakthroughs don't happen without first making the mistakes that lead you on the path to success.
Ellevate Network: Finding your people.
EKMH: Earlier this year Ellevate Network quickly pivoted and successfully kept virtually connected to its active community; what best practice tips do you have for creating courageous conversations via Zoom?
Kristy Wallace: I recommend engaging with the community, asking questions, encouraging attendees to post in the chat. Utilize breakout rooms to facilitate small group connections. Ask your audience what they need, what would be valuable to them. And consistency is key. Trust isn't built overnight. Create space for ongoing conversations that build rapport.
EKMH: Women should be patient with the status quo and the pay gap. T or F?
Kristy Wallace: False. I encourage everyone reading this to vote, to advocate for change in policies such as pay equity and paid leave. I encourage you to advocate for others and to collectively mobilize towards creating a more just and equal workplace and world.
EKMH: While obvious to many, clarification always seems necessary: why should companies strive to be more diverse and inclusive? How does Ellevate Network help companies become leaders in diversity through its corporate partnerships?
Kristy Wallace: Diversity in business is a competitive advantage. Companies with diverse teams have more innovation, better problem-solving, increased profits, higher employee engagement, and better reputations. One of the greatest challenges to companies is not just saying diversity is important but truly investing in it. JEDI (justice, equity, diversity, inclusion) needs to be a foundation for companies -- their hiring, culture, policies, and leadership. Many top companies work with Ellevate to help support their internal employee resources groups with content, speakers, and workshops as well as to leverage our Squads’ peer mentoring technology to ensure their employees are getting the mentoring and support they need every day.
EKMH: And as a lit major and seasoned podcaster, please share your recommended booklist and a few of your favorite podcast series.
Kristy Wallace: I love the Ellevate Podcast, Conversations with Women Changing the Face of Business (of course I'm a bit biased). I also enjoy How I Built This and LeadershipNext -- I'm always looking for inspiration from other leaders. Some of my favorite business books are The Culture Code; Radical Candor; and the Hard Thing About Hard Things. Of course, as a lit major, I'm also a big fan of some good fictional mysteries!
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