WINSight // The Secret of the Sponsor
At one point or another in our careers, we’ve all been told: “If you work really hard, you will reach the top.” The truth is, it’s not always about hard work. More often than not, there is a human element involved, making success highly subjective. Knowing this, we need a person who holds influence and can advocate on our behalf -- a sponsor.
On March 31st, WIN invited several guests to speak on their experiences as both sponsees and sponsors. Learn more about the panel and key takeaways below.
Our panelists:
Maja Lapcevic - SVP, Innovation Management & Marketing @ Mastercard
Maria Pereda - Director of Product Design @ Clio
Monique Idlett-Mosely - Co-founder/Managing Partner @ Reign Ventures
Tiffany Edwards - Global Head of Diversity & Inclusion @ Droga5
Dave Garcia - Chief Business Officer @ New Stand
“Having a mentor is optional; a sponsor is essential.”
So, what is a sponsor?
Sponsors are career accelerators. They’re in your workplace, they recommend you for challenging assignments, and they are senior leaders with influence that can provide exposure to their executives. All in all, a sponsor is someone who knows you well - strengths and weaknesses. They open doors and fight for you and your promotion. They help you drive your career vision forward.
But what differentiates a sponsor from a mentor or career counselor?
Although you can use these terms interchangeably, they differ in purpose. In short: “Mentors speak with you, sponsors speak for you.” Both are valuable, though while mentorship is supportive, sponsorship is progressive. Mentors help develop careers, while sponsors actively advance them. Mentors give advice and talk with you, but sponsors give currency and talk about you. While mentors will nurture you and provide you with perspective, sponsors will advocate for you and use their influence to open up the right opportunities. Get yourself a mentor in the space that you need to learn and grow. Get yourself a sponsor where you truly exceed at a high level and one that advocates for you and your value.
“There’s no endorsement proxy for women in the same way there’s the “He’s a great guy” statement that permeates every recommendation I receive about another man. That stuck out to me as the definition of the problem.”
The power of the sponsor:
Too few women working in male-dominated industries are reaching the top of their organizations. Men are more likely to advocate for themselves, being 45% more likely to have a sponsor than women. Sponsorship unlocks vertical and horizontal promotion and empowers women to climb the ranks in their organizations, giving them a seat at the table.
At WIN, we believe that anyone can be both a sponsee and a sponsor - that is the beauty of sponsorship; everyone has something to teach and something to learn, no matter their age or experience. Sponsorship isn’t reserved for seniors or the C-Suite. Sponsorship is possible and valuable at any point in someone’s career, not just when they reach a leadership position. Whatever the next milestone looks like for you, sponsorship could be the answer to unlock it.
“Any relationship is mutually beneficial. A sponsor can want to help you, but I also think as a sponsee you can be strategic, intentional and make sure that you get the sponsor that you want”
Seeking out your sponsor: 2 words: intentionality and strategy - you should always have a strategy when taking a job. You should not have to raise your hand when you are doing well; you just need to be in a space where you are recognized and valued.
Finding a sponsor should be done strategically. Your sponsor is going to be someone that speaks for you. Part of finding a sponsor is getting recognized: you need to show up and do a great job, and a sponsor will undoubtedly recognize your talent. Raise your hand for certain initiatives, and go above and beyond. But it is also about value exchange - work hard and share your value so that others notice you. You never know who’s watching - that’s why your brand is so key.
“When I took my career into my own hands and started building my own reputation and brand, that’s when I started bringing in sponsors around me. I didn’t ask them to be my sponsor, but they saw something in me and started doing it themselves.”
Identify power centers (influencers and decision-makers) and figure out what you can gain from these people and their sponsorship (recognition, influence, financial benefit.) You can then start to build that network for you to grow your career. Once you begin establishing these relationships, you put deposits in the sponsor bank: staying top of mind by sharing articles, grabbing coffee, quick Zoom chats, etc. Sponsees should be proactive and exhibit a growth mindset.
There’s no denying that we are more comfortable with people with whom we share similarities. 70% of sponsors are the same gender as their sponsees. Many women have lost out on opportunities; as a result, especially women of color. So how do you avoid falling into that trap of going after someone like you? INTENTIONALITY - be aware of your natural biases and break free of them. From an organizational perspective, there needs to be accountability - companies need to set goals for diversity numbers and set the intention upfront.
“In the past people have sponsored me because they’ve seen me perform elsewhere and believe that my skill set will translate. Ultimately, they are trying to help themselves too.”
The true WIN-WIN of Sponsorship: Sponsor-relationship is always a best-foot forward relationship, and there’s a certain transactional nature to it: both parties are benefiting from the relationship. They receive each other’s loyalty, and it helps them build their reputation.
After you’ve experienced sponsorship, become a sponsor - realize the power of being an advocate for someone. Invest in the talent in your company, and it’ll make you and your company better. From an organizational perspective, companies spend billions of dollars on R&D but not necessarily in-house. Sponsorship is the best way to keep talent in-house.
Sponsorship is truly amazing if you can find it within your own company, but that is not the only place to do it. It’s also essential to cultivate your external networks because they can help you leapfrog into new companies and industries. If you are not in a corporate job, you can find sponsorship from different sources. It all comes down to community building - joining boards, committees, and the organizations you want to grow within.
It’s never too early or too late to start your sponsorship journey! Everyone has the opportunity to help create a new sponsorship model. We all have agency over our own careers and those of others, whether we’re advocating for ourselves to get a sponsor or showing up for someone else. There’s a constellation of individuals in your organization, and beyond that, you go to for different reasons. You can cultivate sponsors for different moments in your career and can actively shape your sponsorship network around you.
Most importantly, your sponsorship journey should never really end. There’s a genuine need and importance to pay it forward. Suppose we want to disrupt the existing systems and make inclusion part of the culture. In that case, the sponsees of today have real accountability and responsibility to become the sponsors of tomorrow in turn. Remember to be intentional in all that you do: do your best to challenge your natural propensities and go after someone that reminds you of yourself years ago. Rise up and reach back.
“The most pivotal movements in my career have been due to sponsors. They not only helped me get there but they unlocked these opportunities for me to get into positions that I wouldn’t have otherwise.”
Editorial: Chiara Rachmanis
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