GBA Gender Diversity & Inclusion Working Group · Banco Nacional de Costa Rica (BNCR) GarantiBank...

GBAGenderDiversity&InclusionWorkingGroup

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AGENDA

30minutes WelcomeandIntroductions

30minutes TheBusinessCase|GenderD&IinFinancialServices

25minutes OverviewofNeeds ofWorkingGroupMembers

5minutes ClosingandNextSteps

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TheGBAnetworkprovidesfinancialserviceproviderswithuniqueservicestoeffectivelycapturetheWomen’sMarket

FacilitatepeerlearningacrossthemembershiptoacceleratethelearningcurveandhelpensureWomen’sMarketprogramsuccess.▪ WorkingGroups▪ AnnualSummit▪ All-StarsAcademy▪ StudyTours▪ MentoringProgram

Conductinnovativeresearch,collateinsightsfromourmembersandhouseessentialresourcesthathelpourmembersstayonthecuttingedge.▪ KnowledgeProducts▪ DataAnalytics▪ TacticalResearch:▪ Accesstomembers-onlyGBA

Vault

Connectmemberswithstrategicpartners,buildbrandswithrecognitioninGBAcommunicationschannelsandinmajorpublications,cementreputationsonwomen’sfinanceviaconferencespeakingopportunitiesandindustrycompetitions,andleverageourcollectivevoicetoadvocatefordesiredpolicychange.

GBAWorkingGroupsconnectmembersforin-depthdiscussionsonkeyareasoftheWomen’sMarketwhichhavebeendecidedbasedonmembers’interestinbuildingcapabilitiesaroundaparticularsubjectarea.Membersmeetonamonthlybasisforguided,participatorywebinarsthatexplorethemostimportanttopicsaroundtheWorkingGroup’stheme,discussingsuccesses,challenges,andhowtobestovercomethem.

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TheGlobalBankingAllianceforWomenTeam

RebeccaRuf

Director

InezMurray

ChiefExecutiveOfficer

VanessaVanLandingham

SeniorCommunicationsAssociate

HilaryNichols

ManagerofPeerLearning&Knowledge

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FSGTeam

AlexGeertz

Director

LauraHerman

ManagingDirector

LauraWatry

Associate

HaylingPrice

SeniorConsultant

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WHOWEAREFSGisamission-drivenconsultingfirmsupportingleadersincreatinglarge-scale,lastingsocialchange.

HOWWEHELPWehelpcorporations,foundations,andNGOsdevelopandevaluatestrategiesthatadvancetheirmissions,andweworkwithbusinessestocreatestrategiesthatalignsocietalimpactwitheconomicsuccess.

OURMODELThroughcustomizedconsultingservices,innovativethoughtleadership,andsupportforlearningcommunities,wehelpfoundations,businesses,nonprofits,andgovernmentsaroundtheworldaccelerateprogress.

FSGOverview

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DiversegeographiesarerepresentedacrosstheWorkingGroup

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WorkingGroupIntroductions

Participatinginstitutions

AccessBank ChaseBankBACSanJose FicohsaBancoNacionaldeCostaRica(BNCR) Garanti BankBancoPichincha HBLBankalEtihad IDBBankofPalestine IFCBanRegio IMONInternationalBFL KCBKenyaBLCBank NatWestBREDBank Sanasa DevelopmentBankCentenaryBank TEB

Shareyourname,institution, &titleWhatisonethingyouhopetolearn/gainfromparticipatinginthisWorkingGroup?

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AGENDA


30minutes TheBusinessCase| GenderD&IinFinancialServices



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Womenareunderrepresentedinthefinancialsector

v Therearesignificantdropsinfemaleheadcountateachcareerlevelabovesupportstaffv Exitratesforwomenattheexecutivelevelare2xhigherthanformen(15.8%vs.7.7%)

67%

15%26%37%

74% 85%

SeniorManagers

46%

SupportStaff

54%

Executives

33%

Professionals Managers

63%

WomenMen

Representationoffemalevsmaleemployeesatalllevelsinfinancialservices

Source:Mercer,WhenWomenThrive:FinancialServicesPerspectives(2016).Dataisbasedonglobalsurveyresponsesfrom67finance/bankingorganizations

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Womenareacutelyunderrepresentedinleadershipanddecisionmakingroles

Studiesconsistentlyfindthatbetween13-15%ofExecutiveCommitteemembersarefemaleinfinancialservices

v 92%ofrespondentsinthebankingindustryrecognizethatagenderdiversityproblemexists.v Only17%ofleadersinfinancialservicesexpecttoseeasignificantincrease infemalerepresentationin

leadershipoverthenext5years.

20% Ofboardmembersarefemale

26% Ofseniormanagers arefemale

37% Ofmanagersarefemale

15% 85%

Women Men

Source:Mercer,WhenWomenThrive:FinancialServicesPerspectives(2016).Dataisbasedonglobalsurveyresponsesfrom67finance/bankingorganizationsEY:PlacingGenderDiversityoftheFinancialServicesAgenda,http://www.ey.com/gl/en/industries/financial-services/ey-placing-gender-on-the-financial-services-agenda

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Despiteunderrepresentation,theGBAseesalinkbetweengenderdiversityandperformanceintheWomen’sMarket

v Matureprogramsemploymorewomen.StrongdiversitypoliciesandpracticesareakeycomponentofhavingastrongWomen’sMarketprogram.Bankswithmorematureprogramshavestrongerdiversitymeasuresthanthosewithprogramsthathavejuststarted.

Source:GBAWomen’sMarketAnalytics,inassociatewithMcKinsey&Co.

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Therearemultiplewaysthatincreasedgenderdiversitycanyieldbetterbusinessoutcomes

InnovativeBusinessPracticesGroupswitharangeofperspectivesoutperformgroupsoflike-mindedexperts.

AccesstoaWiderTalentPoolWomenofferstrongandoftendifferentiatedskillsetsthatcanenhanceanorganization’scompetitiveadvantage.

MarketIntelligenceonFemaleCustomersAworkforceequippedwithknowledgeofwomen’sneedscanhelpfirmscapturevalueingrowingmarketsworldwide.

CustomizedSolutionsforWomen’sMarketsByleveragingconsumerinsightsandprioritizingdiverseneeds,financialinstitutionscanofferdifferentiatedclientexperiencesforwomen.

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AccesstoaWiderTalentPool

• Strategichiringoftraditionallyoverlookedgroupscanincreaselong-termcompetitivenessforfirms,especiallyinregionsexperiencingacrunchfortalent– Aswomenentertheworkforceatincreasingnumbersworldwide,firmsare

increasinglyprioritizingsustainabletalentpipelines

• Womenoutperformtheirmalecounterpartsinacademicsettingsacrossmanyregions,howevertheyarenot engagedintheworkforceatcomparablelevels– Globally,only54%ofworking-agewomenengageintheformaleconomyonaverage,

comparedto81%ofmen

Womenofferstrongandoftendifferentiatedskillsetsthatcanenhanceanorganization’scompetitiveadvantage.

Source:WorldEconomicForum

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InnovativeBusinessPractices

• Researchsuggeststhat beyondbroadeningafirm’srangeofexpertise,genderdiversityintroducesuniquedataandexperiencesthatcanenhancecreativity

• AlongitudinalstudyonU.S.firmssuggestedthat“companiesthatprioritizedinnovationsawgreaterfinancialgains whenwomenwerepartofthetopleadershipranks”– From1992to2006,genderdiversitywascorrelatedwithanaverageincreaseof $42

millioninfirmvalue– Genderdiversitywasalsocorrelatedwithgreaterinnovationintensity, ortheratioof

R&Dexpensestoassets

Sources:Page(2007):TheDifference:HowthePowerofDiversityCreatesBetterGroups,Firms,SchoolsandSocieties;Phillips(2014):HowDiversityMakesUsSmarter

Groupswitharangeofperspectivesoutperformgroupsoflike-mindedexperts.

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MarketIntelligenceonFemaleCustomers

• Womenrepresentapotentiallygrowingshareofrevenueforfinancialinstitutions– Duetoinsufficientattentiontowomen’sfinancialneeds,anestimated$5trillionin

assetsareuntappedbyfinancialserviceinstitutionsintheU.S.alone– TheIFCestimatesthatwomen-ownedbusinesseshaveupto$320billioninunmet

financingneeds worldwide

• GBAresearchrevealsastrongcorrelationbetweenmemberinstitutions’shareofemployeeswhoarewomenandtheshareoftheircustomerbasethatisfemale

Source:GlobalBankingAllianceforWomen;GenderIntelligenceforBanks—MovingtheNeedleonGenderEquality(2017):InternationalFinanceCorporation;TheFinancialTimes

Aworkforceequippedwithknowledgeofwomen’sneedscanhelpfirmscapturevalueingrowingmarketsworldwide.

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CustomizedSolutionsforWomen’sMarkets

Byleveragingconsumerinsightsandprioritizingdiverseneeds,financialinstitutionscanofferdifferentiatedclientexperiencesforwomen.

• ResearchonpubliclytradedcompaniesintheU.S.hasdemonstratedaquantifiableimpactonafirm’sabilitytoservemarketneeds– Whenorganizationalteamshadoneormorememberswhorepresentedanend-usergroup,the

teamwas158%morelikelytodeveloptailoredstrategiesspecificallytargetingend-users

• GBAresearchrevealsthatonaverage,Women’sMarketprogramsovertwoyearsoldhave9%morefemalecustomers thanprogramslaunchedordesignedmorerecently

• Femalecustomersoffinancialservicesareparticularlymoresatisfiedwhentheyfeelwellunderstoodbyinstitutions– Amulti-countrystudyindicatedthatfemaleandmalefinancialadvisorswho

“understandhowwomen’sinsight,perspective,andexperiencesdifferfrommen”aremorelikelytowinlong-termclientrelationships

Source:HarvardBusinessReview;CenterforTalentInnovation;InternationalFinanceCorporation

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AGENDA



25minutes OverviewofNeedsofWorking GroupMembers


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SurveyOverview

16participatinginstitutionscompletedtheGBAmembersurvey.*ParticipantsinthisWorkingGrouprepresentdiversefunctionsacrossHR,communications,andtheWomen’sMarketteams.

12 surveyrespondentsworksinHR

1 worksinsustainability

3workinWomen’sMarketPrograms

*Pleasenotethattherewasnotan100%responserateforeachsurveyquestion,sosomeresultsmayreflectfewerresponses.

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Themajorityofrespondentshavemadeanexternalcommitmenttoaddressinggenderdiversityandinclusion

0%

20%

40%

60%

80%

CommunicatesD&Icommitmenttointernaland

externalstakeholders

CommunicatesD&Icommitmenttointernal

stakeholdersonly

HasnotyetcommunicatedaD&Icommitmenttointernal

orexternalexternalstakeholders

PercentageofR

espo

ndents

CommunicationofD&ICommitments

Source:GBAD&ISurveyNote:15/16surveyparticipantsrespondedtothisquestion

v ManybankshavemadetheirD&Icommitmentpublic,whichisanimportantfirststepv Othersjointhisgroupwithoutastatedcommitmentfromtheirinstitution

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ThemajorityofrespondentsseeimprovementstoWomen’sMarketperformanceasamotivatingfactorforinvestmentingenderD&I

0%

20%

40%

60%

80%

100%

IntegraltoWMPperformancestrategy

StrengthenWMPperformance

Unsure

Num

bero

fInstitutions

Whatmotivatesmembers’commitmentstoadvancinggenderD&I?

v SomeinstitutionsmayalsobemotivatedtoadvancegenderD&Iinorderto:• Enhanceworkplaceexperienceforwomen,andpeopleofallgenders• Strengthentalentpipeline

Source:GBAD&ISurveyNote:15/16surveyparticipantsrespondedtothisquestion.

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Butonlyhalfofrespondentsregularlyusesex-disaggregateddatawhenassessingwomen’srepresentationandadvancement

0%

20%

40%

60%

Regularly Occasionally Never

PercentageofR

espo

ndents

Doyouusesex-disaggregateddatatoanalyzewomen’srepresentationandadvancementinternally?(selectone)

Source:GBAD&ISurveyNote:15/16surveyparticipantsrespondedtothisquestion.

v DisaggregateddatawasreportedasakeytoolfortrackinginternalprogresstowardgenderD&Igoals

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AndonlyonethirdofrespondentssetHRand/orbusinesstargetsforrepresentationofwomen

0% 10% 20% 30% 40% PercentageofRespondents

WhattypeofHRtargetsaremeasured?

Source:GBAD&ISurvey

v AmongKPIs,GBAmembersreportedmoretrackingoffemalestaffandleadershiprepresentationv Turnoverandpromotionwerenotascommonlymeasured

FemaleRepresentationattheExecutiveLevel

FemaleRepresentationinStaff

PayEquity

FemaleTurnoverRates

FemalePromotionRates

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Mosthaveenactedmultiplepoliciesandpracticesacrosstheorganizationtoaddressgenderinequalities

0

1

2

3

4

0policies 2policies 3policies 4policies 5policies 7policies 9policies 12policies

Numbe

rofR

espo

ndents

ParticipatinginstitutionshaveinplacedifferentnumbersofD&Ipoliciesandpractices,from0to12(outof15surveyed)

Source:GBAD&ISurvey

NumberofD&IPoliciesinPlace

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Paidmaternityandpaternityleave,leadershiptraining,andflexibleschedulesarecommonpractices

0% 20% 40% 60% 80% 100% PercentageofInstitutions

Source:GBAD&ISurvey

PaidMaternityLeave

LeadershipDevelopmentandTraining

PaidPaternityLeave

FlexibleSchedules

FormalMentorshipPrograms

UnconsciousBiasTrainingforManagers

GenderD&IEmployeeResourcesGroups

FormalExecutiveSponsorshipPrograms

CompanySponsoredAccesstoChildCare

UnconsciousBiasTrainingforRecruitment/HiringTeam

FormalReturn-to-WorkPrograms

Company-SponsoredAccesstoElderCare

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Supportforfamilycare,stafftrainingandreturn-to-workprogressarelesscommonlyadoptedpractices

v ManyoftheselesscommonpracticesarelinkedtoexplicitpriorityareasthatmembersoftheWGwishtolearnabout

v Theseareas,includingprofessionaldevelopment,advancement,andretention,arecriticaltoadvancinggenderD&I

0% 20% 40% 60% 80% 100% PercentageofInstitutions

Source:GBAD&ISurvey

PaidMaternityLeaveLeadershipDevelopmentandTraining

PaidPaternityLeaveFlexibleSchedules

FormalMentorshipProgramsUnconsciousBiasTrainingforManagers

GenderD&IEmployeeResourcesGroupsFormalExecutiveSponsorshipProgramsCompanySponsoredAccesstoChildCare

UnconsciousBiasTrainingforRecruitment/HiringTeamFormalReturn-to-WorkPrograms

Company-SponsoredAccesstoElderCare

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Thetopenablersforfemaleadvancementgobeyondformalizedpolicies

• ProgresstowardgenderD&Irequiresaholisticapproachthataimsto“hardwire”(throughformalizedpoliciesandprograms)and“softwire”(supportculturechange)genderdiversity&inclusion

• Improvingcompanycultureisanessentialpriorityfor66%ofinstitutionswhocompletedtheD&Isurvey

Source:GBAD&ISurvey;EY:NavigatingDisruptionwithoutGenderDiversity?ThinkAgain(2016);FortuneMagazine

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Integratingtheseapproachesrequiresaholisticapproach

Hard-wiringpoliciesandprocesses(e.g.,recruitmentprograms,employeebenefits)

Soft-wiring organizationalnormsandculture(e.g.,informalexpectations,socialdynamics)

ConnectinginternalgenderD&IstrategywithWomen’sMarketperformance

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0% 20% 40% 60% 80% 100%

Measurement

Work-LifeBalance

Recruiting

PayEquity

Retention

Companyculture

Leadership

ProfessionalDevelopment

Advancement

PercentageofInstitutions

KeyLearningPriority

TopicofGeneralInterest

Source:GBAD&ISurveyBasedonsurveyresponsesto“Iwanttolearnapproachestohelpmyinstitutionovercomeroadblockswearefacing;and“Iwanttolearngeneralinsightsandbestpracticestoapplytomyinstitution.”

MembersexpressedparticularinterestinovercomingroadblocksrelatedtoAdvancementandProfessionalDevelopment

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Mostmembersexpressedthatsoftwiring strategiesrelatedtoleadershipandcompanyculturewere“essentialpriorities”

0% 20% 40% 60% 80% 100% NumberofInstitutions

Source:GBAD&ISurvey

Leadership

CompanyCulture

Measurement

ProfessionalDevelopment

Retention

Recruiting

Work-LifeBalance

Advancement

PayEquity

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AGENDA





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LearningobjectivesfortheWorkingGroup

Explorethebusinesscaseforgenderdiversity&inclusioninthefinancialsector

IntroducepracticaltoolsthatcanpromotewomenthroughinternalD&Ipoliciesandpractices

Sharebestpracticesforpromotinggenderdiversityandinclusionacrosstheorganization

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WorkingGroupsessionswillfollowtheorganization’sD&Ijourney

PhaseI:Align&Diagnose

PhaseII:TakeAction&EngageAllies

PhaseIII:Measure,Refine,

&Re-align

WorkingGroup Modules

2017 2018

Oct Nov Dec Jan Feb Mar Apr May Jun Jul

OurnextcallwillbeonThursday,November30th

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CommitmentandEngagement

• Activelyparticipateincalls• Sharecasestudiesandrelevantdatatobuildtheknow-howofGBAmembers

• Listenandlearnfrombestpractices ofotherWorkingGroupparticipants

• Communicateupdates,recentnews,orresources withtheGBAandmembers

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Contact

Allcommunicationsandresourceswillbesharedviadiversity@gbaforwomen.org

Pleasedonothesitatetoreachoutwithanyquestions,feedbackand/orsuggestions!

HilaryNichols,ManagerofPeerLearning&[email protected]

+1-781-801-2664

GBA Gender Diversity & Inclusion Working Group · Banco Nacional de Costa Rica (BNCR) GarantiBank...

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Transcript of GBA Gender Diversity & Inclusion Working Group · Banco Nacional de Costa Rica (BNCR) GarantiBank...