For over a decade, Women’s World Banking Asset Management (WAM) has been leading the charge in gender lens investing (GLI). Our mission is to enhance gender diversity within our portfolio companies’ customer bases and workforces. By collaborating closely with our portfolio companies, we have implemented strategies to reach more women customers and employ more women, building more equitable and competitive companies.
In the early years of our GLI strategy, we made significant progress in demonstrating the business case for gender diversity. We worked with our portfolio companies to implement strategies that would help them reach more women customers and employ more women in their workforces. However, we soon realized that while our portfolio companies were convinced of the business value of gender diversity, they often struggled with the “how.” To bridge this gap, we provided them with the necessary research and resources to attract and retain women as customers, employees, and leaders.
In 2019, we introduced deep-dive, data-driven Gender Performance Studies (GPS) as part of our technical assistance program. Funded by our Class B investors, the European Union, and Germany’s Federal Ministry for Economic Cooperation and Development (BMZ), the GPS provides market and organizational insights to help portfolio companies better reach women and employ more women. Each GPS complements the investments made by the WWB Capital Partners II, LP (Fund II). Based on the findings and recommendations of the GPS, portfolio companies develop and implement a Gender Action Plan (GAP) tailored to their unique circumstances.
Through our research and customized action plans, we discovered a set of consistent recommendations that emerged across different business models, geographies, and maturity levels. We compiled these recommendations into a universal checklist of attributes, policies, and practices that each company should develop to enhance its gender diversity. This checklist is not only suitable for our portfolio companies but also for companies across various markets, industries, and business models. We are excited to share these findings broadly, hoping to inspire other companies to adopt them.
The Gender Performance Checklist draws on rich insights from six completed GPSs conducted on our portfolio companies. We selected the most consistent and strategically relevant recommendations, ensuring a strong effort-to-result ratio. This checklist provides companies with an actionable guide to becoming more gender-intentional in their operations, policies, and culture. The items on the checklist are complemented by evidence from WAM investees, Women’s World Banking’s advisory work, and third-party research. These recommendations are designed to create better financial and social performance.
WAM invests in companies that are already willing and able to be leaders in gender inclusion. Therefore, many basic gender initiatives have already been addressed by companies undergoing a GPS and may not appear here. This checklist does not represent a full set of recommendations and best practices for gender diversity. Instead, it is a compilation of accessible, impactful, and actionable next steps for institutions committed to increasing gender diversity. For a comprehensive approach to gender diversity best practices, we recommend our online gender assessment as a starting point.
Gender lens investing is more than just a strategy; it is a commitment to creating a more inclusive and equitable world. WAM’s journey in gender lens investing has shown that with the right strategies, research, and resources, companies can achieve significant progress in gender diversity. Our Gender Performance Checklist serves as a valuable tool for companies looking to enhance their gender inclusivity. We invite other companies to join us in this mission and leverage the insights and recommendations from our GPS to create a more inclusive and equitable business environment.
