Executive Leadership

Women as Economic Catalysts: The Imperative of Leadership and Inclusion

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Fifteen years ago, during a women’s business leaders forum led by U.S. Senator Kirsten Gillibrand, we began a dialogue about the unique challenges facing women in the workforce. Senator Gillibrand challenged us to keep that conversation alive, and this led to the birth of HIA-LI’s Women’s Leadership Conference. Today, this annual event is not just a tradition but a vital forum for exploring the critical role women play in driving economic growth.

Globally, the gender gap is closing, but progress remains slow. According to the World Economic Forum, the global gender gap stands at just 68.6% closed, meaning women still face significant disparities in economic participation, education, health, and political empowerment. At the current pace, it will take 131 years to achieve full parity. According to the U.S. Bureau of Labor Statistics, the labor force participation rate for women aged 16 and over was just 57.4% in October 2024, reflecting ongoing challenges in workforce engagement. These numbers underscore why events like this year’s HIA-LI Women’s Leadership Conference are essential.

This year’s conference focused on authentic leadership and workplace equity, offering actionable strategies to empower women while addressing systemic barriers. One of the most striking statistics comes from Pew Research, which highlights that women still earn just 82% of what men earn for similar work—a gap that has only narrowed by 2% over the past two decades. For women of color, these disparities are even more pronounced. Addressing these issues isn’t just a moral imperative; it’s an economic one. Studies consistently show that companies with diverse leadership teams outperform their peers.

This year, our keynote speaker, Linda Armyn, CEO of Bethpage Federal Credit Union, shared insights from Bethpage’s “Money Like a Woman” campaign, which celebrates women’s strengths in collaborative decision-making and long-term financial planning. Her message was clear: empowering women financially uplifts entire communities. Armyn’s keynote set the tone for a day that was both inspiring and pragmatic.

The event also featured a panel of accomplished leaders who shared their journeys and insights. Panelist Gwen O’Shea, CEO of Community Development Long Island, reminded us of the critical need to address pay disparities and ensure systemic change. Tracey Edwards, Senior VP at Sands New York, discussed the importance of personal branding and ethical leadership, while Lauren Nichols, President of 3G Warehouse, highlighted how setbacks can serve as powerful learning opportunities. Christine Flaherty, Senior Vice President for Real Estate Development and Facilities at Catholic Health, emphasized listening and adapting as keys to effective leadership, while Carolyn Mazzenga, Office Managing Partner, Marcum LLP, stressed the importance of trusting your intuition and seeking mentors who can guide you through critical moments in your career.

One of the day’s most poignant moments was the fireside chat featuring Kristen Reynolds, CEO of Discover Long Island, and News 12 anchor Erin Colton. Their discussion explored mental health challenges, resilience, and the importance of seeking balance in a demanding world. Colton’s candid reflections on her own experiences with anxiety and depression resonated deeply, reminding us all of the power of vulnerability in leadership.

Our breakout sessions provided practical tools for attendees, covering topics from work-life integration to reclaiming authenticity. And in a particularly inspiring addition this year, we welcomed young women from local high schools. Carol Allen, HIA-LI Board Chair and President and CEO of People’s Alliance Federal Credit Union, offered advice to these future leaders: “Embrace the journey, stay curious, and take something valuable with you from every opportunity.” Their presence underscored the importance of fostering leadership at every stage.

As I reflect on this year’s conference, I am reminded of why this work matters. Women are not just participants in the economy; they are drivers of innovation, growth, and community. Yet challenges like pay inequity and underrepresentation in leadership persist. Through initiatives like the HIA-LI Women’s Leadership Conference, we are not just discussing these issues—we are taking steps to solve them. Together, we can create an economy that works for everyone.

HIA-LI Business Achievement Awards: Celebrating Long Island’s Finest

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Photo caption (clockwise from upper left): Jeff Reingold, COO, Contract Pharmacal Corp., “Large Business” winner; Jay Demetriou, President, LGC Studios, “Small Business” winner; Billy Hatzichristos, Founder and Owner, Native Ceuticals, “Rookie of the Year” winner; special guest speaker Suffolk County Executive Steve Bellone; Jennifer Marks, Long Island Market Team Lead, JP Morgan Chase & Co., “Leadership” winner; and, Karen Boorshstein, CEO, Family Service League, “Not for Profit” winner.

The Business Achievement Awards – our very own “Academy Awards” event – holds a special place in my heart. We were at the Crest Hollow last week to shine a light on the amazing businesses and organizations that represent the essence of Long Island. Each of them, from varied industries, share a similar optimism about the future. Each one of them value and celebrate their people. And they all constantly innovate, showcasing a deep-seated commitment to the Long Island community at-large.

HIA-LI stands as one of the recognized voices for Long Island businesses, a powerful force in regional and economic development. As many of you know, our voice echoes beyond the bounds of this event. We advocate passionately the Nassau-Suffolk region and for the Long Island Innovation Park at Hauppauge (LI-IPH) with its impressive economic output of $13 billion. Yes, billion!

But none of that would be possible without our committed board members, our dedicated staff, and our invaluable volunteers. Every event, every initiative is a testament to their hard work.

Carol A. Allen, Board Chair of HIA-LI and CEO of People’s Alliance Federal Credit Union, has been one of those stalwart supporters. Reflecting on her two-decade association with HIA-LI, Carol remarked, “Seeing the growth and resilience of the businesses that make up our community has been inspiring. HIA-LI has become a significant force, thanks to the collaboration of our exceptional board members and the unwavering commitment of our organization’s staff and leadership.”

Speaking of commitment, I was filled with gratitude to introduce someone who’s been a tireless advocate for our community – Suffolk County Executive Steve Bellone. Elected in November 2011, Steve has been more than just an effective executive, he’s been someone who genuinely cares, not just for businesses but for every individual on Long Island.

Due to term limits, Steve’s tenure as County Executive is drawing to a close, but his impact will be felt for generations. Reflecting on his transformative initiatives, Steve shared, “The transformation of Ronkonkoma into a transportation and innovation hub, supported by state and federal investments, signifies a new era for Long Island’s economic future. The upcoming Long Island Convention Center symbolizes our region’s ambition and potential.” Beyond infrastructural projects, he has always emphasized the importance of unity in political progress, noting the invaluable lessons of, “collaborating across party lines.”

And talking about collaboration and leadership, in the corporate world, JP Morgan Chase & Co. stands out for its commitment to the community of Long Island. Jennifer Marks, their Long Island Market Team Lead, embodies this spirit. With 17 years at the firm, Jennifer, alongside her dedicated teams, has been at the forefront of ensuring JP Morgan Chase gives back. Their philanthropic initiatives and volunteer leadership groups have left an indelible mark on Long Island, from packing food with Island Harvest to supporting military veterans. Their efforts, driven by the goal of inclusive economic growth and community support, underscore why JP Morgan Chase was a very worthy recipient of the 2023 Leadership Award. We applaud them for their unwavering commitment to the bi-county region.

The spotlight also shined on the Large Business category. Contract Pharmacal Corporation (CPC), led by their Chief Operating Officer, Jeff Reingold, has been a stalwart in the Long Island business community since 1971. Known for producing high-quality pharmaceuticals, their footprint in the industry is unquestionable. With 12 facilities in the LI-IPH, and producing almost 15 billion units annually, CPC epitomizes dedication to quality and teamwork. Jeff’s emphasis on the family-like spirit of the company along with their commitment to innovation and responsibility resonates deeply.

In the Small Business category, winner Jay Demetriou, President of LGC Studios, graciously accepted the award for the company’s steadfast growth and notable accomplishments. Highlighting his 30-year journey with the firm, which was founded by his father Greg, Jay emphasized the collective efforts of the LGC Studios team. With exciting announcements in the offing, Jay asserted LGC Studios’ ambitions for the future.

Karen Boorshtein, CEO of the Family Service League, the winner for the second time in the Not-for-Profit category, spoke passionately about the organization’s crisis services, specifically Joe’s Project — a program initiated after the tragic loss of a staff member’s son to suicide. Karen celebrated her dedicated staff and highlighted their unwavering commitment to assisting those grappling with mental health issues. With a deep focus on early intervention and mental health support, Family Service League offers a lifeline to many, including through their 24/7 Crisis Stabilization Center.

In the Rookie of the Year category, winner Billy Hatzichristos, Founder and Owner of Native Ceuticals, was enthusiastic about the growth and success of his hemp CBD business. Stressing the holistic health benefits of hemp and CBD, Billy touched on the transformative effects these products have had on a variety of ailments. He urged the community to embrace alternative, natural treatments, and to support local businesses that foster community health and wellness.

It’s important to recognize business excellence on Long Island, especially in these times. Congratulations to all the award recipients and the immense impact they’ve made on the bi-county region. We look forward to witnessing the continued growth and success of these influential businesses and organizations.

Attend the 12th Annual ‘Women Leading the Way’ Panel on Friday, November 18 in Melville

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Women are an economic powerhouse for America, owning 10.1 million firms generating $1.9 trillion in sales and employing 13 million people.

Yet women face special challenges in reinforcing their business leadership. They must strike the right work/life balance, ensure their voices are heard, and carefully navigate their career paths.

On Friday morning, November 18, a panel of high-achieving Long Island businesswomen will explore such challenges at our 12th Annual “Women Leading the Way” Executive Leadership Program at the Hilton Long Island at 598 Broadhollow Road in Melville. We’d like you to be there with us.

Running from 8:00 am to 10:30 am, the panel will be moderated by Domenique Camacho-Moran, a Partner with Farrell Fritz PC. Invited panelists include Christine M. Riordan, President of Adelphi University; Anne Shybunko-Moore, CEO and Owner of GSE Dynamics and an HIA-LI board member; Andrea Principe, Director for the Northeast Division of Chase Business Banking; Theresa Sanders, President and CEO of the Urban League of Long Island; and Kristen Reynolds, President and CEO of Discover Long Island.

And while we’re on the topic, here are some recommendations for improving work/life balance:

First, working women should try to make space for self-care, says Lianna Bass, a New York City-based journalist, who suggests the following:

  • Eat healthy meals
  • Stay hydrated
  • Get enough sleep
  • Exercise regularly

A second set of recommendations come from the American Psychological Association. Among other suggestions, they recommend that working women “become more organized:”  

  • Create a structured but flexible schedule
  • Establish dedicated spaces for work versus play
  • Arrange task lists by priority, allowing for flexibility

And a third suggestion comes from a February 2021 New York Times column titled “Remember: What You Do is Not Who You Are.” It cites tips from Alison Green, founder of the advice blog Ask a Manager. She offered this recommendation for people struggling to separate work life and personal life: “start putting the boundaries in place.”

This could mean not answering your phone after your workday has ended, or not engaging with an email or text message while you’re taking a 15-minute mental health break during the day.

Often, Green says, “When people just start carving out those boundaries for themselves, they discover it’s fine. Nothing happens . . . no one even notices.”

The Executive Leadership event will include a craft fair. Contact Halle Grossman at hgrossman@hia-li.org for vendor opportunities.

For information about sponsorship opportunities, contact Anthony Forgione at aforgione@hia-li.org. Sponsors to date are: City National Bank, Custom Computer Specialists, Farrell Fritz PC, Island Harvest, Mark Grossman Public Relations, and People’s Alliance Federal Credit Union.

Tickets are $50 for HIA-LI members and $65 for non-members. To register, visit www.hia-li.org or call 631-543-5555.