Deal Us In

Although women have made big strides in the private equity field, they are still a minority in workplaces dominated by men.

In this episode, Melissa Mounce, Managing Director of Leadership, Talent, and Diversity at GTCR, shares her perspective on the impact and experiences of women in the industry – including some of the obstacles stacked against them.

One of the most powerful ways women can drive change is by sharing their unique backgrounds and experiences with men.

“Your perspective is important, it's valuable, and it may be somebody else's blind spot,” Melissa says.

She also shares her own experience working remotely during the COVID-19 pandemic and how, surprisingly, the forced move away from in-person communications expanded her access to executives and sped up recruitment processes.

Yet, remote work has made office drop-ins and coffee chats with mentors and mentees harder to come by. Melissa provides insight into how female professionals can connect with leaders in the private equity industry virtually.

Name: Melissa Mounce

What she does: Melissa Mounce is Managing Director of Leadership, Talent, and Diversity at GTCR, where she works to build diverse teams of investment professionals for a portfolio of companies. She is also a co-founder of the Private Equity Network of Operating Women.

Company: GTCR

Where to find Melissa: LinkedIn

Top takeaways from this episode

Be a model of inclusion — Traditions in the workplace can unintentionally exclude women. Companies need to become more inclusive, but women can help bridge the gap by educating male colleagues about their experiences.

Use your voice — Don’t be afraid to speak up. Your perspective, especially as a woman, brings valuable and unique insight to a room full of men.

Lead the way  — Seasoned women in leadership roles should mentor younger women to help pull them up through the ranks. Find organizations outside of work to engage in mentorship and networking.

[01:44] Chance encounter: Melissa describes how she got into private equity after a coincidental conversation with a venture capital partner on an airplane.

[04:13] Advantages and hurdles: Women bring different perspectives and even investment opportunities to the field of private equity. However, as they aren’t the majority group in these organizations, they can sometimes be unintentionally excluded from male-focused norms.

[11:15] The remote work boost: While working remotely has its advantages for everyone, Melissa describes how it’s specifically helped her gain executives and quicken recruiting processes. Remote work has also presented some challenges in the way of geographical issues and missed in-person meetings.

[16:23] Find mentors outside the office: With many people still working at home, the way we connect with mentors has shifted. Organizations such as the Private Equity Network of Operating Women can help working females build strong connections with like-minded professionals.

[18:50] If you only knew: Melissa shares the priceless advice she would now give to her younger (fresh-out-of-college) self.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Women have always faced intense pressure to prove themselves and prioritize the needs of others. While it may be more latent these days, the burden is still very much alive.

“I really do think that it's worth recognizing that we still, in many ways, live in a patriarchal society,” says Blair Bishop, a Licensed Marriage and Family Therapist. “A lot of us have internalized that we're supposed to be the perfect worker, the perfect caretaker to our aging parents, the perfect housewife, the perfect mom.”

Working mothers can get the brunt of this, but all women feel it to some extent. And the COVID-19 pandemic has only exacerbated long-standing gender-based adversity. Nearly two years into this global event, women continue to navigate increasing demands at work and at home.

Blair joins us on this episode of Deal Us In to discuss how women can tune into their needs and learn to ask for help during this time. She shares advice for handling relationship conflict at home, accepting our imperfections, and expressing personal feelings in the workplace.

On this episode, Blair also talks about knowing when to apologize and gives tangible suggestions for embracing self-compassion.

Name: Blair Bishop

What she does: Blair is a Licensed Marriage and Family Therapist in Los Angeles who specializes in guiding teens and twenty-somethings through the challenges of young adult life.

Company: Blairapy

Where to find Blair: LinkedIn

Top takeaways from this episode

Address the problem, not the person — If your relationships have suffered as a result of pandemic-induced stresses, adopt a “me versus the problem” mindset. Whether you’re butting heads with a partner or a colleague, you’ll be more likely to reach a mutual agreement if you stay open-minded and compassionate.

Give yourself permission to mess up (and admit it) — Accepting your mistakes, and owning up to them, are important components of self-empathy. When you let go of the need to be right, you can more easily connect with others and resolve conflicts.

The world still puts extra pressure on women — Cut yourself some slack if you feel anxious about keeping all of your proverbial balls in the air. Most women have internalized the unfair societal message that says we must be perfect in all areas of our lives.

[02:31] Shift your mindset when it comes to conflict: Relationships at home and work can — and will! — result in conflict sometimes. Since parents have been experiencing extra stress during the pandemic, couples with kids may be especially prone to it right now. Blair recommends getting curious about a problem together, rather than resorting to blame.

[06:55] Rupture and repair: Look at your relationship as the balancing of three entities: you, your partner, and the relationship. Things will go off-kilter, but Blair says knowing when to apologize will help you “get it right,” instead of holding onto the need to be right.

[9:45] Prioritize self-care: During such stressful times, Blair says it’s particularly important to pay attention to your own needs. Self-care can look different for everyone, but it’s crucial to figure out what works for you.

[11:22] Try acceptance and commitment: If you’re overwhelmed — a perfectly valid feeling –– use Blair’s mental model of acceptance and commitment. Accept your stressors for what they are, then identify small commitments you can make to yourself each day.

[16:51] Your body informs your mind: Mental health professionals used to think the body and mind were completely separate entities, but it’s now clear that they couldn’t be more connected. Powerful physical techniques — like practicing deep breathing or adopting a power stance — can positively impact your mental health.  

[18:05] Be human at work: In a professional setting, some women avoid addressing their feelings for fear of coming across as weak. But work relationships are human relationships, too. Even if it feels taboo, try using an “I feel” statement next time you’re having one of those days.

[22:30] Take it easy on yourself: It’s reasonable to feel overwhelmed when juggling work and family life, especially if you’re a working mother. Moreover, you might judge yourself for having that feeling. Blair reminds us to treat ourselves as we would treat another woman going through the same things. Try five- or 10-minute self-compassion meditations using an app like Insight Timer.

[25:50] The patriarchy is still real: Though strides have certainly been made for women, there’s still a patriarchal structure in the U.S. Accepting this can help you make changes in areas you can control and let go of the rest.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

When you’re a dealmaker, there’s always a risk that you’ll find yourself stuck in a complicated arbitration if things go awry. Regulatory issues can sneak up on you, so watch out!

On this Halloween episode of Deal Us In, McGuireWoods partners and litigation specialists Jodie Lawson and Susan Rodriguez are here to guide you through the haunted maze that is dealing with business disputes.

Jodie and Susan both advise digging into the specifics of your situation before deciding whether to handle it via arbitration or litigation. They say that a lot of clients think arbitration will be the easiest and cheapest way to solve a dispute, but that’s not necessarily the case. Don’t think you’re getting a treat and stumble into a trick!

Jodie and Susan also discuss the nightmares that Form I-9s can give you. If a company you’re working with doesn’t have a workforce that is fully authorized to work in the United States — or it hasn’t made sure its employees filled out their Form I-9s correctly — you might be in for a long, conflict-filled road ahead.

“It can be a real deal-killer: We've actually seen Form I-9 issues kill a deal,” Susan says.

Tune into this spooky special to find out what skeletons may lurk in the arbitration closet, so you can be a better and safer dealmaker. With the right kind of legal support, you can unmask those legal monsters, and see that they aren’t so scary after all. 

Name: Jodie Lawson

What she does: Jodie is a partner at McGuireWoods and a high-stakes litigator, representing clients in federal and state court, and arbitrations. She defends Fortune 100 companies and other businesses in cases involving torts, contract disputes, property disputes, and class actions, and fiduciary, energy, and financial services litigation.

Company: McGuireWoods

Where to find Jodie: LinkedIn

Name: Susan Rodriguez

What she does: Susan is a partner at McGuireWoods, and co-leader of the firm’s financial institutions industry team, primarily focusing on government investigations and complex civil litigation. She has defended clients in numerous government enforcement actions by the Department of Homeland Security (DHS), Department of Justice (DOJ), Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC), among others.

Company: McGuireWoods

Where to find Susan: LinkedIn

Top takeaways from this episode

Beware of the hidden costs of arbitration — Jodie and Susan say that sometimes attorneys think arbitration will always be the cheapest way to solve a dispute. This can be true, and there are other benefits to handling a conflict this way. However, sometimes litigation is the best route, because of all the fees that come with arbitration.

Choose your state cautiously (no ouija boards) — Different states have different provisions that might impact whether you decide to go to court or get an arbitrator involved. If you can choose which state your dispute is addressed in, Jodie recommends picking the one that has substantive laws that fit with your specific agreement. But your business or dispute must be connected to the state or dispute in some way. It’s also a good idea to have legal counsel that is familiar with the specific laws in that state.

Don’t get tricked by this scary form — Dealing with Form I-9, which verifies the employment authorization of people hired to work in the United States, can be tricky. Treat it with care: Susan says making mistakes on this form can be very costly. Make sure any workforces involved in your deal are authorized to work, and have filled out Form I-9 correctly. Or it won’t be trick-or-treaters at your door, it will be USCIS!

[6:26] Think strategically about who should solve your disputes: When dealing with dispute resolution in a deal, there are pros and cons for working with arbitrators versus going to court. This will vary greatly depending on the circumstances, so make sure to look into it each time.

[10:18] Consider who should front the attorney fees: Susan says she usually recommends people follow the “American rule” with arbitration clauses in deals, which means each side pays for their own attorney fees. There are situations in which you might have some extra leverage if you foot the cost for the other party’s fees. That can work well in specific situations, but Susan says she mostly steers clear of that potential landmine.

[14:00] Every state has different requirements: When choosing which state to handle your dispute resolution in, Jodie says it’s important to consider the different substantive laws that will apply to your case. People gravitate toward Delaware because of its robust substantive law. But if you don’t have an office in Delaware, your client will have to pay extra for local legal counsel, potentially negating the benefits.

[18:00] Think about whether you want to handle an issue in federal or state court: Jodie says that most disputes over general breaches of conference will be handled in state court, unless the controversy exceeds $75,000, or involves parties from many different states. But there are times when you may want to consider moving your dispute to federal court, depending on what’s in dispute.

[21:18] The Biden administration hasn’t reduced Form I-9 enforcement: It was widely predicted that President Biden’s comparatively immigrant-friendly political policies would mean that legal actions against unauthorized workers would decline. However, Susan says this doesn’t appear to be the case. There are still many complications when dealing with companies that have workforces made up of people who aren't all authorized to work in the United States.

[22:30] Civil and criminal fines for Form I-9 mistakes are ghastly: People don’t always realize how serious the civil and criminal fines for mistakes on Form I-9 can be. If a company makes an unknowing mistake when its employees fill out these forms, it will likely face civil fines. But if leaders at the company knowingly hired unauthorized workers, the business may face criminal charges.

[34:00] Look closely at your representations and warranties insurance (RWI) policy: Jodie says that RWI policies often have exclusions that you don’t know about, and yours may not cover everything you think. It’s worth hiring someone to look at the fine print, so your insurance won’t deny you coverage.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

In order to fully cultivate the kinds of business relationships that result in lucrative deals, private equity firms are starting to look at designating a person or a team to source the most fruitful deals.

For Meahgan O’Grady, who joined Palladium Equity Partners as Director of Business Development earlier in 2021, private equity is exciting because of the opportunity to work with founder-owned businesses that can really make waves.

“It's such a special opportunity to speak with business owners in multiple different types of industries and talk about ways we could help them grow their business,” Meahgan says on this episode of Deal Us In.

As the leader of the firm’s business development team, Meahgan works with a range of stakeholders, developing and enriching personal connections. She believes women often have a special talent in this arena, and although private equity firms are increasingly seeking the benefits of diverse teams, there’s still a way to go when it comes to helping women achieve their full potential in private equity.

“Although it has evolved and gotten better by leaps and bounds, there's still room to grow,” she says.

Meahgan thinks that women can continue to carve out their own niche in this industry by pushing through the difficult times and always advocating for themselves and others.

Her advice: “Be the change that you want to see, and be that change from within. That's the best way to do it.”

Name: Meahgan O’Grady

What she does: Meahgan is the Director of Business Development at Palladium Equity Partners where she sources deals primarily with founder-owner businesses for the middle-market private equity firm.

Company: Palladium Equity Partners

Where to find Meahgan: LinkedIn

Top takeaways from this episode

Find the right tools to make networking easier — As a self-professed introvert, Meahgan recognizes that networking can be difficult, especially when you’re first starting your career. But eventually, she says, it’ll get easier — you just have to push through difficult moments and come up with some personalized methods that make business networking easier for you.

Don’t be too shy to advocate for yourself — Women in business can have a particularly hard time talking about their own successes and highlighting all the ways they’ve helped their team. But advocating for yourself is crucial for professional development and seizing all the opportunities you deserve, so try to conquer that fear and highlight your strengths and talents. 

Change is best effectuated from within — Women who are involved in private equity leadership need to use their platforms to keep pushing for more diversity — that’s the only way real change will come.

[1:12] Path to private equity: Meaghan discusses her career path and background, which includes early years at Goldman Sachs and an MBA from Duke’s Fuqua School of Business.

[07:52] Allocating time, finding her path: When Meahgan was breaking into private equity and looking into professional organizations to join and passion projects to work on, she threw a lot of different ideas against the wall to see what stuck. Eventually, she says, you’ll find your niche, but it’s okay to try a few different ideas on for size.

[11:20] It’s okay to be an introvert in BD: Meahgan says she is an introvert by nature, so professional networking isn’t always the most comfortable space for her. You don’t have to be a super bubbly extrovert to make great connections in the business space!

[12:30] Step outside your comfort zone: While introverts definitely have a place in private equity and business development, they may have to work a little harder to forge connections. Meahgan says that you’ll probably have to work through some uncomfortable moments when building connections, but it will become easier over time.

[19:00] Diversity of thought is vital: Improving gender diversity in private equity is a passion for Meahgan — she says she sees a great increase in innovation and creative thought from a diverse team. This extends beyond gender diversity, too: ethnic, social, and professional diversity all helps a team see from different sides and avoid cohesive, bland thought.

[20:35] Look at your career like a layer cake: Meahgan says she builds her experiences on top of one another, always looking to the future but paying attention to each piece of the puzzle.

[26:15] Maintain professional relationships: Relationships and professional connections are vital in the private equity world — as well as any other industry — and it’s not worth it to ruin past relationships. Meahgan points out ways to delicately move on in your career when it’s time to leave a position, but says it’s never a good idea to completely let your past fall to the wayside when looking to your future.

[29:20] Don’t burn yourself out, but work hard: Meahgan says she was working a lot when she first started in private equity after business school, and she was sometimes scared she wouldn’t be able to push through. But that early experience is very helpful, even though it can be tough to work so hard. Don’t wear yourself completely thin, but when starting a private equity career, realize that you’ll have to put in some hard work up front — it’ll definitely pay off in the end.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

People are returning to work in person at offices — but that doesn’t mean everything is back to business as usual.

On this episode of Deal Us In, employee benefits and labor attorneys Carolyn Trenda and Dawn Cutlan Stetter continue our two-part conversation about the impacts of the pandemic on the workplace, particularly for women. 

One thing that has definitely changed: People don’t want to go back to working in the office in the same way they used to. 

“Very few employers are saying they’re going to make people come back to the office five days a week,” Dawn says. “If you’d told me that in January 2020, I would have laughed at you.” 

This shift in attitudes means new considerations for businesses. “What are the challenges moving forward in having at least a partially remote workforce? What does that look like? How do you accommodate employees who want a little bit more flexibility?” Dawn says.

These questions are top of mind for Carolyn and Dawn, who advise employers on best practices when it comes to employee benefits and labor issues.

In this episode, they also discuss how traditional benefits packages are changing, and what women can do to continue striving for success in a workforce that is still male-dominated.

Name: Carolyn Trenda

What she does: Carolyn is a partner at McGuireWoods who focuses her practice on advising public, private, and non-profit employers on a range of employee benefits topics. 

Company: McGuireWoods              

Where to find Carolyn: LinkedIn

Name: Dawn Cutlan Stetter 

What she does: Dawn is an attorney at McGuireWoods who represents and advises management in all aspects of labor and employment law. 

Company: McGuireWoods             

Where to find Dawn: LinkedIn

Top takeaways from this episode

The impacts of the pandemic are here to stay — A lot about the way we work has changed in the past year and a half, for better or worse. When it comes to things like flexible, remote work schedules and a focus on the importance of childcare, COVID-19 brought a cultural shift that isn’t going away anytime soon. 

The future of employee benefits packages is in flux — More and more companies — especially bigger ones with more employees — are looking at increasingly progressive benefits packages that incorporate things like mental healthcare, and include medical coverage for transgender people.

Women still face hurdles when it comes to leadership — One thing holding women back in the workforce has become more obvious during the pandemic: It’s very difficult to be the sole person responsible for childcare and also hold a full-time leadership role. But there are other cultural factors that are keeping women from achieving their potential, and confidence is key to changing that landscape.

[2:18] The future of work is flexible: Dawn says that since a lot of jobs went virtual due to the pandemic, many people now expect to be able to work remotely, or on a more flexible schedule. This switch won’t necessarily require legislative change, but it is definitely going to be something businesses are thinking about going forward.

[5:30] Paid family leave: Even before COVID-19, the idea of paid family leave was getting a lot of political attention. Now that the pandemic has highlighted the importance of a social safety net for childcare — and a new political administration is in office — Carolyn says we might see a seachange in this area.

[14:40] Women and benefits packages: Carolyn says that employee benefits packages have become more progressive as the workforce and leadership teams diversify. For example, as more women enter the workforce, health plans have started to reflect a more diverse range of health needs. Having representational leadership in human resources can lead to expanded benefits that address a range of needs.

[17:55] Barriers to female leadership: Even though women have seen huge strides in the business world, there are things we can do better. Carolyn and Dawn both talk about their experiences overcoming hardships in male-dominated fields.

[22:55] Know your best assets: Carolyn and Dawn say that confidence is vital when it comes to women achieving success in business. Trust your instincts!

 ✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn. 

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Over the course of the COVID-19 pandemic, employers have had to contend with a host of new labor issues.

For McGuireWoods lawyers Carolyn Trenda and Dawn Cutlan Stetter, who focus on employee benefits topics and general labor law respectively, the pandemic has changed the kinds of questions their clients are asking.

“COVID-19 came on like a tidal wave for employers. It challenged employers both large and small in almost every conceivable way,” Dawn says on this episode of Deal Us In, which is part one of a two-part interview with Carolyn and Dawn.

Beyond dealing with transitioning to a virtual workplace, employers had to look at how to handle giving employees time off for COVID-19-related reasons, and rethink employee benefits generally. These issues may continue even as employees start returning to in-person work.

“On the benefits side, the immediate issues were what to do with layoffs and furloughs. You had lots of employers trying to furlough employees and maintain access to benefits,” Carolyn says. “There were immediate COVID effects and challenges, but now we’re dealing with more of the issues surrounding returning to work.”

Despite the challenges, employers can navigate this new world with the help of advisors like Carolyn and Dawn, especially if they keep their employees’ needs in mind, and do the work to help them.

“As long as employers are acting in good faith and doing their best to comply with the changing regulations and statutes, there's a sense that some of this is going to pass,” Carolyn says.

Name: Carolyn Trenda

What she does: Carolyn is a partner at McGuireWoods who focuses her practice on advising public, private, and non-profit employers on a range of employee benefits topics.

Company: McGuireWoods              

Where to find Carolyn: LinkedIn

Name: Dawn Cutlan Stetter

What she does: Dawn is an attorney at McGuireWoods who represents and advises management in all aspects of labor and employment law.

Company: McGuireWoods              

Where to find Dawn: LinkedIn

Top takeaways from this episode

COVID-19 really changed employment — For obvious and less-obvious reasons, all aspects of employment were thrown for a loop when the pandemic hit. This created an entirely new world for labor and employee benefits lawyers to navigate.

The pandemic’s effects on employment were not created equal — While most professions had new challenges to deal with as a result of the pandemic, some industries had a tougher time than others. Handling the concerns of employees who were required to show up in-person was one of the most urgent legal issues facing employers.

We might never get “back to normal” — For better or worse, COVID has changed certain aspects of employment forever. As we move back into a world where it’s safe to work in person, we might carry some things with us — like incorporating telehealth into employee health plans.

[3:55] The pandemic’s impact on employment: Dawn says that the COVID-19 pandemic forced employers to rethink almost everything about how they worked with their employees.

[9:00] The caregiving challenge: Dawn and Carolyn both discuss the challenge of dealing with employees who suddenly had to change their approach to childcare when schools went online. Before the pandemic, there were few states that allowed people to take time off for caregiving, but over the past year and a half, governments and employers have made strides to accommodate this situation.

[17:25] Unequal impacts: Dawn points out that essential businesses have had to contend with even more employer issues during the pandemic. While white-collar employees were generally able to transition to virtual work fairly easily, people who needed to work in person had a whole other set of rules to figure out.

[21:05] Telehealth rising: Carolyn says that the expansion of telehealth over the past year and a half has challenged some employer healthcare programs that didn’t previously account for virtual medical appointments — and she thinks this might be a lasting change.

[27:45] The ins and outs of COVID legislation: Carolyn talks about how legislation like the COBRA subsidy — which gave employers funds to maintain health benefits for employees who were involuntarily terminated or had their hours reduced — created a world of unknowns for employers.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Women of color face pretty intense challenges when it comes to succeeding in the white male dominated fields of law and private equity.

But Mirlande Telfort and Dami Oguntade have constantly hustled for success, and it has paid off with their successful careers at McGuireWoods. Though they have experienced challenges, they’ve both used their unique backgrounds to get a leg up in an intense industry, and now advise people in the same position to continue striving and breaking barriers. 

“If there was one thing that I would say to a young lady considering whether or not to come into this industry, it would be: just do it,” Dami says on this episode of Deal Us In. “Because really, the only way we can have more women at the table is to have more women show up, and consistently keep showing up.” 

Learn how Mirlande and Dami have made the most of their skills and backgrounds, utilizing the power of strong female mentors and role models and strong will powers to keep moving forward even when the path seems impossible. And if they have to be the trailblazers, they always remember that they’ll be clearing the path for women of color behind them. 

“If you stay focused on the rewards and really pursue something that you want, you can be successful at it,” Mirlande says. “It's okay to be the first because you'll bring along the second, third, fourth and fifth behind you.”

Name: Mirlande Telfort 

What she does: Mirlande is a partner at McGuireWoods who focuses on representing banks, private equity funds, and other investors and helping them with complex debt financing transactions. 

Company: McGuireWoods              

Where to find Mirlane: LinkedIn

Name: Dami Oguntade

What she does: Dami is an associate at McGuireWoods who focuses her practice on mergers & acquisitions and private equity. 

Company: McGuireWoods              

Where to find Dami: LinkedIn

Top takeaways from this episode

Look at your challenges from a new perspective — Mirlande discusses how growing up as the child of first-generation, working class immigrants who couldn’t afford to pay for her college education could have been a setback, but ended up serving her well in her career. 

Working in customer service and constantly looking for creative ways to finance her education taught her about working hard and persevering, as well as centering client happiness and problem-solving. 

If there’s a wall, fly over it — Milande and Dami both discuss the challenge of hearing about the glass ceiling, saying it can become a self-fulfilling prophecy. As a woman of color, it’s key to ignore the negativity you might experience when trying to move up in the industry, and don’t take setbacks personally. You’re equipped to handle them! 

Seek opportunities to help your female colleagues — Once you’ve reached some of your goals, look out for chances to help your female colleagues whose shoes you were once in. If someone receives opportunities to achieve success, they can do it.

[05:10] Unique background: Mirlande talks about how growing up as a first-generation American with parents who immigrated from Haiti set the foundation for her hard work ethic that pushed her to finance her own education and get on a path toward the work she does today.

[09:50] Against the odds: Kelsey cites statistics showing that women and people of color both have historically been the minority in the law field, with the ratio of men to women lawyers almost 2:1, and 85% of lawyers being white.

[11:10] Women, just show up: Dami gives some advice to women interested in going into the male-dominated industries of law and finance: just do it! The only way to have more women at the table is for more women to show up.

[13:02] Focus on the reward: Mirlande says that women and people of color who see the odds of their success stacked against them in these industries should try to ignore the negativity and focus on creative ways to accomplish their goals, despite the roadblocks that might stand in their way.

[17:15] Find role models and mentors: Dami says that despite all she’s learned from her male colleagues and mentors, seeing women blaze the trail in private equity has let her know that she’s not alone, and helps her balance a tough workload.

[33:02] Try to relax sometimes: Mirlande points out the importance of sitting back to relax, even in an industry where you might feel constantly on the go. It’s okay to celebrate your successes and enjoy your journey instead of sprinting through your career.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn. 

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected]. 

✔️ Don’t miss another episode! Subscribe in your preferred podcast app. 

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Networking events can be challenging at the best of times, but especially so when you’re the only woman in the room. It can feel like every set of eyes is on you, watching and scrutinizing everything you do and say.

As 7 Mile Advisors’ Ariail Barker points out in this episode of Deal Us In: “I'm still not seeing myself reflected in a lot of the other banks that I am coming across at networking events. So it does add an additional ‘eek’ factor (for lack of a better word) going into some of these networking events, because it just feels that much more intimidating.”

Rather than shrinking into a corner of the room to avoid standing out, do your homework and have a plan going into the networking event.

Don’t let a lack of confidence hold you back, says podcast guest Northstar’s Managing Director Rebekah Elliot. “It's cliche, but fake it till you make it and become that person you want to talk to at a networking event,” she says.

If you’ve ever felt like you could be better at networking listen to this episode to uncover tips and tricks you can use to feel more confident at networking events.

Name: Rebekah Elliott

What she does: As a Managing Director at Northstar, Rebekah is responsible for creating, implementing and measuring the success of their marketing and event strategies. She is a strong marketing professional with a MBA focused in Business Marketing, Statistics & Brand Management from University of Pittsburgh - Joseph M. Katz Graduate School of Business. 

Company: Northstar          

Where to find Rebekah: Twitter | LinkedIn

Name: Ariail Barker 

What she does: As the Director, Sales & Marketing at 7 Mile Advisors, Ariail is responsible for building a centralized business development team, increasing private equity coverage, and updating the overall brand and marketing strategy. 

Where to find her: LinkedIn

Top takeaways from this episode 

●     Do your homework — before an event. With so much digital information available, you can gather instruments to use to build a rapport quickly and move on to what you really want to talk about.  

●     Put the safety blanket down. When you walk into a room and you see someone in the corner on their phone, especially women, they come across as unapproachable. Even if you’re uncomfortable, find ways of signaling to others at the event that you’re open to talking and avoid giving the impression that you don’t want to be there. 

●     You don’t have to be the “fun killer” or the flirt. If you’re the only woman in the room, you’re already interesting and are more closely scrutinised than anyone else. You can build really strong relationships without being the “fun killer” who doesn’t want to take a shot with the guys or playing up your sexuality. 

[06:24] Don’t get hung up on building rapport: While building rapport is important, Rebekah advises not to spend too much time trying to get someone to talk about their personal life — balance that with the business topics. 

[08:23] Project confidence, even if you don’t feel it: Rebekah wasn’t always a great networker, she had to fake the confidence she saw in other networkers at events until she actually felt confident. Rebekah’s advice is to get out of your head, don’t focus on your shortcomings, and think more confidently.

[14:32] Steer the conversation to where you need it to go: You have a finite amount of time to get the information you need so if the conversation is heading in a direction that isn’t beneficial to you, change the direction. Find a stepping stone in the conversation that will help you have the conversation you need to have.

[27:18] Get the ball rolling: Rebekah always asks open ended questions that start with: if, how, when or what. These aren’t simple yes or no questions and it also creates the opportunity to ask other questions off the back of their answer.

[32:40] Make a To-Do list: Informal networking events can be hard, there’s no format to follow so Rebekah suggests making a To-Do list. By creating a structure, you can see what you need to accomplish and what research you need to do beforehand.

[37:18] Alcohol not required: Networking events that stretch into dinner and after-dinner drinks can be tricky. Rebekah’s advice is to quietly ask the barman or waiter to only bring you mocktails. You're still engaged but it also helps you to navigate any minefields.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

A time traveler from the 1980s would probably be shocked at how many women hold leadership positions in law firms today — and with scarcely a shoulder pad in sight, thankfully. But dig a little deeper and it’s clear that progress doesn’t equal parity.

“About one in five c-suite executives is a woman, and only one in 25 c-suite executives is a woman of color,” McGuireWoods Partner Phyllis Young summarizes. “So it's a mixed bag: We see a lot of progress, we see signs that the glass ceiling is cracking, but it's not all where we want it to be.”

It’s a similar story across the financial and legal industries. For example, there are no all-male boards in the S&P 500: but the average number of women on S&P boards is still only 2.8, up from 1.7 a decade ago.

It takes more than hiring one or two women and people of color to reach the kind of critical mass that delivers positive changes. And then law firms and other companies have to make an intentional effort to create positive work environments that meet those new employees’ specific needs.

For example, McGuireWoods Associate Kelsey Hitchcock says that mentorship programs and benefits specifically targeted to, say, women who choose to have a family show a level of support that can be the difference between someone staying or leaving.

Fair or not, women at all levels of law firms — especially leaders — have to shoulder some of the responsibility for moving all women up the career ladder, says McGuireWoods Counsel Ann Dorsett.

“Those who are in leadership need to turn the spotlight on younger women … And those in the middle need to support women leaders and help pull up the more junior women.”

Name: Ann Dorsett

Title: Counsel at McGuireWoods

Specialty: Ann counsels clients on insurance law, including coverage litigation, claims counseling and litigation management.

Where to find her: LinkedIn

Name: Kelsey Hitchcock

Title: Associate at McGuireWoods

Specialty: Kelsey specializes in corporate transactions, advising clients on topics including mergers and acquisitions, divestitures and corporate governance.

Where to find her: LinkedIn

Name: Phyllis Young

Title: Partner at McGuireWoods

Speciality: Phyllis is an expert in transactional law, handling secured lending transactions, debt restructuring and complex intercreditor arrangements.

Where to find her: LinkedIn

Top takeaways from this episode

● Law firms must reshape workplaces to incentivize women to stay. Women are more likely to stay at a firm if they can see that other women have been promoted to leadership positions. And those female leaders will only stay if company culture suits them. That might include benefits that assist with childcare or other caregiving roles; recognizing achievements outside of work, such as charity work or homelife; mentorship programs from other women; and flexible working hours.

● Women in leadership positions have a responsibility to help other women. In an ideal world, everyone would want to see more equality at the top levels of law firms. But in our imperfect world, women are more likely to notice that disparity. And in the spirit of idealism, those in leadership roles should use their power to remove obstacles they had to climb over, and help make the next generation’s path to the top smoother than their own.

● Don’t accept sexism. Women still face sexist expectations at work. For example, women who want to work and have a family are still described as superwomen, but if a man wants the same thing, it’s not even considered worthy of comment. This is because women are still the default primary parent. Women are also more likely to be judged on personality rather than performance. The only way to root out this behavior is to call it out directly, especially if you’re in a leadership role.

 [01:59] The stats are in: Phyllis summarizes the statistics on women in leadership positions, including management, boards, law schools, committees and in judgeships.

[05:26] The magic number: Research has found that a board needs at least three women to reach a critical mass that produces a change in company dynamics, including better financial performance and improved gender diversity.

[08:13] Staying-on power: Hiring more women and people of color is just the first step: firms also need to make intentional efforts to make the workplace a positive environment that they’ll want to stay at.

[10:37] Support systems: Examples of efforts that can help create that positive environment include mentorships, clear communication, and support for parents and other caregivers. These should be tracked to ensure change actually happens.

[13:40] Kick down the hurdles: Women in senior roles should actively remove the obstacles they had to fight to overcome — and call out sexism when they see it.

[19:34] Clark Kent vs. Superwoman: Unlike men, women are still told that balancing a career and a family requires a superhuman effort. This has been especially true during the pandemic, with women doing most childcare as well as work, and many leaving the workforce as a result.

[25:38] Remote possibilities: One silver lining to the pandemic, as Phyllis points out, is that employees have proved that it’s possible to be productive without being in your office for 12 hours a day.

[29:49] The climb continues: In summary, it’s important to acknowledge both the progress and the room for improvement. There has to be change at the policy level and in everyday interactions.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected].

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Looking back at the history of working women makes it clear how far we’ve come as a society — and in law specifically — but also how far there is to go.

As McGuireWoods Partner Phyllis Young puts it in this episode: “It's almost like we started with these bigger issues and it's gotten more refined as far as how we're treating women in the workplace.”

After the 19th Amendment gave some women the right to vote in 1920, it still took an uphill struggle to make the law apply in practice for women of color.

At the same time, women were fighting for equal pay.

Legislation like the 1963 Equal Pay Act, the 1964 Civil Rights Act and Title IX of the 1972 Education Amendments formed a solid backbone, as did cases championed by gender discrimination attorneys like late Supreme Court Justice Ruth Bader Ginsburg.

However, as McGuireWoods Associate Kelsey Hitchcock notes, not only does the gender wage gap still exist, it’s even wider for women of color. Statistics also show that although more women than men are earning law degrees, more men hold senior positions in law firms.

One place where women are given more than their fair share of work is at home. In heterosexual relationships, women are still doing most of the housework and childcare — a dynamic that has been exacerbated during the COVID-19 pandemic.

But that’s not to say there hasn’t been progress. McGuireWoods Counsel Ann Dorsett says that 30 years into her career, she’s finally seeing fewer women dropping out of the legal profession, and more women — and men — willing to help the next generation of female lawyers.

“It has to be intentional: involving women in client meetings, placing them in higher roles. And I do see that intentionality.”

Name: Ann Dorsett

Title: Counsel at McGuireWoods

Specialty: Ann counsels clients on insurance law, including coverage litigation, claims counseling and litigation management.

Where to find her: LinkedIn

Name: Kelsey Hitchcock

Title: Associate at McGuireWoods

Specialty: Kelsey specializes in corporate transactions, advising clients on topics including mergers and acquisitions, divestitures and corporate governance.

Where to find her: LinkedIn

Name: Phyllis Young

Title: Partner at McGuireWoods

Speciality: Phyllis is an expert in transactional law, handling secured lending transactions, debt restructuring and complex intercreditor arrangements.

 Where to find her: LinkedIn

Top takeaways from this episode

● COVID-19 has exacerbated existing inequities in household labor. Any advances towards equality in the office are undermined by the fact that women in heterosexual relationships are still spending more time than their male partners on household chores and childcare. And although more people — including men — are working from home thanks to COVID-19, far from leading to a more even division of labor, this has mostly seen women take on more tasks — even in households where men think they’ve stepped up.

● Looking back as recently as the ‘70s, it’s clear that women are in a better position today. We can apply for credit cards in our own names, have the legal right to earn the same pay for equal work, and the idea of a female lawyer isn’t a punchline. However, these are low bars to measure progress against. Sexism is still expressed through microaggressions and even in outright hostility towards women who reach positions of seniority male colleagues see as threatening.

● Change has to be intentional. At this point, explicitly stated sexist beliefs and behaviors are frowned upon by most legal professionals. But reaching true equality means addressing subconscious biases. In addition, people in positions of power — mostly men but also women — need to be intentional about promoting inclusive work environments for women and minorities.

[01:18] Herstory: Ann summarizes the history of women in the workplace, starting with the 19th Amendment granting some women the right to vote in 1920, through to Title IX of the Education Amendments of 1972.

[02:55] Thank you, RBG: A shout out to the late, great and some say notorious Supreme Court Justice Ruth Bader Ginsburg, and her early work arguing sex discrimination cases.as an attorney with the ACLU.

[06:40] Overqualified, underpaid: Kelsey cites statistics showing that more women than men are graduating from law school, but fewer are being promoted to senior positions in law firms. Women are expected to act as admins in the office while also taking on the majority of chores at home — especially during COVID.

[12:24] Make the effort, men: Ann feels that women joining law firms today are less prepared than she was for the sexism they still face — and that people in positions of power need to be intentional about including and promoting women.

[15:32] The new sexism: Phyllis says that generally speaking, more overt kinds of sexism are no longer widely acceptable today, and that the focus is on addressing subconscious biases.

[20:19] Double-edged double duty: The remote work trend might help women in the long term, proving that people can be productive outside the office and with flexible schedules. But there’s also a risk it will further embed the assumption that childcare is “women’s work.”

[23:15] Paying it forward: Over her career, Ann has seen improvements in women’s status at work, with more men taking paternity leave and more women helping each other climb the ladder.

[25:57] Partner paradox: Phyllis believes there’s more gender and ethnic diversity in leadership today — with room for improvement. But it was when she became a partner that she first experienced aggression from male attorneys, who were threatened by her seniority.

✔️ Thank you for joining us at the table for this episode of Deal Us In. We invite you to join the conversation by using our #Dealusinpodcast on Twitter or LinkedIn.

✔️ If you have questions about today’s conversation, please feel free to reach out to Molly White at [email protected] or Ariail Barker at [email protected]. 

✔️ Don’t miss another episode! Subscribe in your preferred podcast app.

✔️ If you have a recommendation for an inspiring interviewee, a question you'd like us to ask, or a topic you would like to hear covered, or if you'd like to tell us about women-focused initiatives in the field, please go to our website. We look forward to hearing from you.

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.