Barbara Spitzer: Crafting Innovative Pathways that Empower Businesses

Organizations in today’s time are faced with unprecedented challenges and opportunities driven by multiple factors. As companies navigate the complexities of a post-pandemic world, the integration of Environmental, Social, and Governance (ESG) considerations into corporate strategies has become crucial. Boards and executive teams must adopt innovative approaches to leadership, embracing the principles of adaptability and resilience to thrive in an environment marked by constant change.

In this realm, Barbara Spitzer, the CEO of Two Rivers Partners, LLC crafts innovative pathways that empower businesses to rediscover their purpose and redefine their values in an era of heightened social consciousness.

A Transformative Odyssey

Barbara Spitzer had been meticulously planning a significant professional and personal transition for a few years before leaving her 35-year consulting career, 23 of which she spent as a partner. However, her departure arrived six months earlier than expected when she found herself among the 799 fellow Managing Directors laid off. The shock of hearing “your last day will be…” is something she will never forget. Sitting on the other side of the table after delivering such news countless times was a humbling experience for Barbara. She understood the pain, disappointment, and self-doubt that accompany such announcements. It was the hardest message she ever had to deliver as a leader, and now it had become her reality

Interestingly, Barbara had already decided to leave full-time six months after receiving this news. She did not have to worry about children, college bills, or missing out on her peak wealth creation years. In fact, she had already begun setting up her portfolio career, allowing her to fully embrace this new phase without the burden of a full-time job. For her, the layoff was a positive change.

Just six months after re-launching Two Rivers Partners, LLC, Barbara had secured three clients, three board seats, and a teaching position. This rapid transition left little room for her to dwell on her feelings. However, the emotions were genuine; introducing herself anew and witnessing former colleagues celebrate promotions or company events stirred a mix of sadness, nostalgia, and wistfulness for the fast-paced corporate life she had left behind.

Through this reflection, Barbara discovered strength, power, and renewal. She learned invaluable lessons during her journey: first, the need to stop normalizing the shame associated with being laid off; second, that there is much life to live after 55 or 60, underscoring the importance of planning for it; third, the necessity to retire the term “retirement.” Unless one dreams of spending all day on the golf course or playing pickleball, it is never too late to start something new that fuels the soul and provides a sense of purpose. Lastly, Barbara emphasized the importance of using adversity to shape one’s character; as an Army brat, she transformed the anxiety of being the new kid into a source of resilience.

Now, Barbara is navigating her new chapter with the same resilience that carried her through 15 moves by the age of 11, thriving on the endless possibilities that lie ahead.

Strategic Approach to Human Capital and Organizational Renewal

As a human capital strategist, Barbara Spitzer enhances shareholder value through strategic people, operational, governance, and transformational levers. In one notable instance, she collaborated closely with the board and C-suite during a significant transformation program necessitated by a new operating model and cost-cutting measures. The impetus for this project arose from the company’s financial and reputational distress due to scandals. Barbara and her team were engaged to help redefine and articulate new global corporate values, alongside executing a comprehensive rebranding initiative.

Her team conducted focus groups to gather a bottom-up perspective on the norms, values, and behaviors essential for the company’s future identity. As the organization developed and implemented this strategy, Barbara guided the leadership team through a 360-degree review encompassing both traditional elements (value drivers, markets, customers, competitors, products, services, financials, and risk) and new dimensions (human capital, environmental, social, and governance).

Her approach was purpose-driven, integrating ethical integrity, trust-building, and high standards of responsible leadership into financial planning and impact investment decisions. The organization defined effective stakeholder engagement with an emphasis on listening, empathizing, communicating, and understanding diverse perspectives.

Additionally, Barbara and her team coached the C-suite to adopt a more adaptive leadership style, which equipped them to navigate change, drive innovation, and lead their teams through uncertainty. This process included fostering a culture that was willing to challenge the status quo, embrace new ideas, and make informed, courageous decisions.

Ideal Integration of Technology

Barbara emphasizes the technological evolution from driverless cars to incredible connectedness and the known and unknown impacts of AI. She noted that few individuals are true experts in these areas, especially among those serving at the highest levels of corporate leadership and governance. Unless one is actively serving as a CEO, CIO, or CTO, it is likely they lack the hands-on experience necessary to protect their companies from cyber threats or to exploit the opportunities presented by artificial intelligence.

She pointed out that by 2023, the average cost of a data breach is expected to exceed $4.35 million, with 83% of companies experiencing more than one breach. Cybercrime is projected to cost the world $10.5 trillion annually by 2025, up from $3 trillion in 2015. These figures, Barbara argued, are not just alarming; they highlight the critical need for board members to be proactive in their cybersecurity strategies.

On the AI front, Barbara highlighted that the global AI market is expected to grow from $58.3 billion in 2021 to $309.6 billion by 2026, reflecting a compound annual growth rate (CAGR) of 39.7% (McKinsey 2021). She pointed out that AI is poised to revolutionize industries, with McKinsey estimating that it could deliver an additional economic output of around $13 trillion by 2030, boosting global GDP by 1.2% annually (McKinsey 2021).

Barbara noted that these challenges cannot be solved simply by adding a deep expert to the board. Instead, she urged each board member to take it upon themselves to learn more about technological advancements, the associated risks, and their impact on shareholder value—whether positive or negative. While having a technology committee is beneficial, Barbara emphasized that this topic should be included on every meeting’s agenda and woven into the fabric of discussions regarding strategy, succession, board composition, and risk.

Empowering Purpose-driven Growth

While Barbara Spitzer did not initially set out to create a purpose-led consultancy, the opportunities that came her way involved advising small businesses and nonprofit organizations. Her focus is on driving commercial excellence and taking new products and services to market, aligning strategy and talent, and delivering exceptional performance. Two Rivers Partners, LLC, specializes in strategy and growth, board and CEO effectiveness, leadership development, including executive assessment, development, and succession planning.

Barbara explained that their C-Suite Effectiveness services help top teams unlock their full potential during strategic shifts. Additionally, the firm emphasizes Board Effectiveness by assessing the board’s fit and readiness to tackle broader challenges as organizations grow and evolve.

She thrives under high expectations and encourages her clients to do the same—provided those expectations are reasonable.

After 35 years of assisting her clients in achieving financial success, Barbara Spitzer is now integrating her passion for purpose-driven initiatives with financial strategy. Even non-profits are commercial enterprises at their core.

Addressing Needs Efficiently

Barbara’s ideal client is an organization that is making a significant impact in the world, whether in the corporate sector or elsewhere. She aims to partner with her clients, addressing their needs efficiently to help them excel in their objectives. Here are some examples of her impactful work:

Supporting the growth strategy of a $100M allied healthcare nonprofit. Barbara and her team provided strategic guidance to enhance their reach and impact.

Conducted board governance assessment for a $25M global sustainability 501(c)(6): the team restructured the board composition to better align with their mission and goals.

Supported CEO transition for a sophisticated U.S. nonprofit: Barbara and her team delivered workshops to refine the organization’s vision, mission, values, and overall strategic priorities.

Ensuring a Sustainable Future

Barbara Spitzer will be teaching a course teaches at New York University on Strategy & Ethics, where she will discusses the integration of Environmental, Social, and Governance (ESG) considerations into corporate strategy and governance—an essential topic in today’s business environment.

To start, she emphasizes the importance of assessing baseline performance and benchmarking against industry standards, measurement and reporting and best practices. Barbara believes that engaging and maintaining regular dialogue with a broad range of stakeholders—including investors, customers, employees, suppliers, and community groups—is key to understanding their ESG expectations and concerns.

An effective ESG strategy, according to Barbara, requires strong board oversight, with dedicated committees or roles established for accountability. She highlights that transparency is vital and encourages a commitment to regular reporting on ESG performance using recognized frameworks like GRI, SASB, or TCFD. Barbara stresses that top leadership must demonstrate a strong commitment to ESG values, setting the tone from the top.

Recently, she attended a technology summit at Columbia University, where she was inspired to learn about the many innovations underway. Whether it’s greening cities or rejuvenating oceans, Barbara recognizes that technology is accelerating problem-solving. However, she insists that corporations must act on their promises, as when the business world leads, consumers and citizens are likely to follow.

In today’s unstable political realm, Barbara observes that governments are not the primary drivers of momentum. She believes it is crucial to engage the world’s youth in these critical issues, as they are the future leaders and bear the brunt of current climate challenges. Their involvement is essential in crafting effective solutions.

Whether developing customer engagement strategies or new products and services, Barbara asserts that companies must be acutely aware of young people’s perspectives and desires. Engaging with youth is vital for ensuring a sustainable future and aligning corporate strategies with the next generation’s values and expectations.

Overcoming Societal Barriers

Barbara was the only woman on the leadership team of a large global management consulting firm for five years. Her status as the “only” lasted three years until the firm finally hired two women and promoted another. However, of the four women, only one lasted more than a year. The male-dominated culture was steeped in patriarchy and misogyny. Initially, Barbara attempted to fit in by participating in the boys’ club activities, but she found it forced and uncomfortable. Despite her efforts, she was labeled as “sharp-elbowed” and difficult.

When promotion season arrived, two male colleagues, who performed similarly to her, were promoted over her. Barbara felt a surge of anger and hurt, but she decided to stand up for herself. She arranged a meeting with the global CEO and presented her sales figures, client impact, and internal contributions. To her surprise, the CEO admitted his mistake and promoted her immediately. This marked the first time Barbara firmly advocated for what she had earned and deserved. From that moment on, she felt more respected by her peers. The difference came from her decision to stop trying to fit in or fight a losing battle; she had proven her worth with facts and evidence.

A year later, Barbara left the toxic environment, realizing that she did not need to conform. She recognized that being the only one is particularly tough for people of color, LGBTQ+ individuals, and those with disabilities. She understood that sometimes the problem lies within the culture, not with the individual. Barbara encouraged others to reflect on whether they were trying to fit in or attempting to change the environment and whether they were enabling bad behavior. She vowed never to let that happen again and expressed her satisfaction in having left that job to create a different path for herself.

Prioritizing Inclusivity

Advocating for diversity and inclusion within organizations requires a multi-faceted approach. Barbara has conducted workshops and training sessions to educate employees and leadership about the importance of DEI, unconscious biases, and the benefits of a diverse workforce. She challenges the use of marginalizing terms like “rest of the world” and highlights innovations from across the globe to foster a more inclusive understanding of global business dynamics. Barbara helps mentorship programs and supports Employee Resource Groups, she ensures underrepresented groups are supported and their voices are heard. Additionally, Barbara fosters an inclusive culture where every employee feels valued, respected, and encouraged to contribute. This comprehensive approach helps organizations not only achieve their DEI goals but also leverage the full potential of a diverse workforce to drive innovation and success.

Drawing from her experience attending and speaking at conferences, the most significant challenges and opportunities for boards and executive teams in the coming years revolve around navigating the complexities of a rapidly changing world. Boards and CEOs must be prepared to tackle multiple crises simultaneously. Adopting first-principle thinking, where problems are boiled down to their core elements, is crucial for finding effective solutions amidst complexity. Directors and C-suite executives must engage in authentic conversations with front-line workers to truly understand their needs and challenges, especially those of women and minorities, who often face unique barriers. Boards must be self-reflective and continuously assess their fitness for purpose, given the global scale of change and disruption.

Navigating the Future with Confidence and Resilience

Barbara emphasizes the importance of recognizing how essential human capital is for driving innovation in fields like healthcare, sustainability, real estate, and technology. Collaboration between different sectors can spur significant advancements. With the rise of AI, expertise is becoming more accessible, breaking down educational barriers and allowing every child to have a private tutor. Embracing technology that challenges traditional economic models can create substantial value and drive change. Boards should consider forming committees focused on science, technology, and innovation to stay ahead of trends and challenges. In addressing these challenges, Barbara plans to continue fostering a culture of inclusivity, continuous learning, and proactive engagement with emerging technologies. By staying agile and committed to these principles, boards and executive teams can navigate the future with confidence and resilience.