30% Club has unveiled a new report with the aim to inspire and support businesses to seek commercial benefit by taking a more systematic and enterprise-wide approach to gender, far beyond the traditional focus within HR.
The report, Are you Missing Millions? The commercial imperative for putting a gender lens on your business, was created by the 30% Club’s Strategy Best Practices Working Group and launched this morning at London Stock Exchange.
The report is produced in conjunction with PwC, with support from WPP and case studies from global and FTSE100 diversity champions including Diageo, GSK, HSBC, Mastercard, PwC, Unilever and Vodafone.
Case studies in the report show how businesses have increased customers, revenues and evolved relationships with suppliers as a result of focusing on gender considerations. For example, Vodafone has identified 200 million women in emerging markets without access to a mobile, 50 million of whom it aims to connect by 2025. Through re-designing its products and services specifically for women, Vodafone has already connected 20 million women. Unilever found that recognising under-represented audiences and focusing on diverse, inclusive and unstereotypical character portrayals created 37 per cent more brand impact and 28 per cent higher purchase intent for its brands, as well as improving the relevance, credibility and enjoyability of its adverts for millions of consumers globally.
Speaking about the report, Brenda Trenowden CBE, global co-Chair of the 30% Club and its Strategy Best Practices Working Group, and Partner at PwC, said, “To keep driving progress, it is time for the 30% Club to extend its influence beyond representation and pay, and work with businesses to help them address the commercial benefits of gender diversity.”
“Since its inception the 30% Club has called for more diverse thinking in business because it makes good business sense.”
“Our report shares the commercial imperative for putting a gender lens on all business activities and includes thought-provoking examples of the kinds of opportunities companies may have.”
“Those who are slow to adopt this approach in the current climate of purpose-led organisations risk being left behind.”
Daniel Klier, co-Chair of the 30% Club’s Strategy Best Practices Working Group, and Chief of Staff to the CEO of Global Banking & Markets and Global Head of Sustainable Finance at HSBC, added, ” The report highlights how businesses are starting to incorporate a gender lens into business strategy, but more consistent actions are still required across organisations to fully realise the potential.”
“There are clear parallels for gender diversity to how companies have been integrating the sustainability and climate agendas into their day-to-day activity more effectively over the past ten years.”
“Through its extensive corporate support network around the world, the 30% Club is well-placed to bring together the best practices that can help companies accelerate progress.”
You can find the report here.