Centre for the New

Economy and Society

Diversity, Equity
and Inclusion
Lighthouses 2024
INSIGHT REPORT
DECEMBER 2023
Images: Getty Images, Unsplash

Contents
Foreword 4

Executive summary 5

Introduction 6

1.1 Current context 6

1.2 DEI Lighthouse Programme 7

1.3 Common success factors across DEI 8

Lighthouse initiatives

1 DEI Lighthouses and highlighted cases 9

2.1 DEI Lighthouses 9

2.2 Additional highlights 25

Appendix 32

Contributors 35

Endnotes 37

Disclaimer
The views expressed in this briefing do
not necessarily represent the views of
the World Economic Forum nor those of
its Members and Partners. This briefing
is a contribution to the World Economic
Forum’s insight and interaction activities
and is published to elicit comments and
further debate.

© 2023 World Economic Forum. All rights

reserved. No part of this publication may
be reproduced or transmitted in any form
or by any means, including photocopying
and recording, or by any information
storage and retrieval system.

Diversity, Equity and Inclusion Lighthouses 2024 2

This report builds on the work of the Diversity,
Equity and Inclusion Lighthouse Programme,
an annual effort to surface, highlight and scale
impactful diversity, equity and inclusion (DEI)
initiatives, organized by the World Economic
Forum’s Centre for the New Economy
and Society.

The Lighthouse Programme is designed to

pragmatically identify proven, effective DEI
initiatives from companies across industries and
geographies and to share key lessons learned
with business and public sector leaders around
the world. The aim is to equip leaders with best
practices to help focus DEI efforts on what
works best, and ultimately shape more resilient
and inclusive economies.

The report provides a snapshot of the current

DEI frontier and recent developments in the DEI
space. It also features detailed case studies of
the 2024 cohort of DEI Lighthouse initiatives
selected by an expert panel on the basis of
having achieved significant, quantifiable,
sustained and scalable impact for one or
multiple underrepresented groups. In addition,
the report presents a set of “highlighted”
initiatives, which contain promising
or innovative design principles.

Diversity, Equity and Inclusion Lighthouses 2024 3

 December 2023 Diversity, Equity and Inclusion Lighthouses 2024

Foreword
As the world transitions into 2024, it continues to corporate initiatives that have resulted in significant,
contend with a multitude of challenges. Economic quantifiable, scalable and sustained impact for
volatility, geopolitical tensions and high levels one or multiple underrepresented groups. The
of inequality persist, while the technology and ambition is to continue growing this repository of
green transition risk causing ever wider social and DEI Lighthouses.
economic chasms.
The Centre for the New Economy and Society is
The World Economic Forum’s Global Gender Gap complementing the DEI Lighthouse Programme
Report 2023 highlights the long road ahead to close with a growing portfolio of insight products,
Silja Baller the economic gender gap, which currently stands action initiatives and leadership communities.
Head, Diversity, Equity at 169 years to parity. Economic gaps faced by The Global Gender Gap Report, now in its 18th
and Inclusion, World
people of colour, people with disabilities and people year, benchmarks global, national and industry
Economic Forum
identifying as LGBTQI+ are equally significant and gender gaps, while Gender Parity Accelerators are
often more so in their intersections. Amid these implementing public-private action plans to advance
complexities, fostering diversity and inclusion in women’s economic empowerment across 14
the business world and countries’ economies is economies. The Global Future Council on the Care
becoming increasingly critical for reviving growth, Economy contributes actionable thought leadership
accelerating innovation, reducing inequalities and on rethinking care, and the Global Gender Parity
bolstering resilience. Sprint 2030 provides a global platform, bringing
together businesses, governments, international
The International Monetary Fund’s projections of a organizations and other stakeholders to accelerate
further global economic slowdown in 2024 underscore change. Further, the Partnering for Racial Justice
the urgency of addressing systemic inequities. Within in Business initiative is a global coalition of 55
this context, the business community possesses organizations to build more coordinated and rapid
significant leverage to proactively design and support progress on advancing racial and ethnic equity.
measures that promote more resilient, vibrant The Centre also collaborates with the Valuable
and inclusive economies. Research consistently 500 on the inclusion of people with disabilities
demonstrates the long-term benefits of inclusive and LGBTQI+ advocacy organizations to drive
policymaking and sustained diversity and inclusion LGBTQI+ inclusion.
programmes, making inclusion not just a moral
imperative, but also a strategic one that promotes We are deeply grateful to the members of the DEI
sustainable growth and resilience in the face of global Lighthouse independent expert panel – Dominic
risks and challenges. Arnall, Porter Braswell, Elizabeth Broderick, Caroline
Casey, Sarah Kate Ellis and Luana Génot – for
In 2020, there was a significant shift in the their leadership in selecting the 2024 cohort of DEI
corporate sector’s approach to diversity, equity Lighthouses. We also thank the members of the
and inclusion (DEI), with more organizations making Centre for the New Economy and Society Advisory
public commitments and establishing ambitious Board and the more than 180 partners of the
diversity goals. Three years on, through crisis Centre for their commitment to the diversity, equity
setbacks and recovery, progress has been made, and inclusion agenda.
but the journey is far from over. Reporting remains
inconsistent, and immediate, individual outcomes We would further like to express our gratitude to
need to be turned into cultural and economy- Fernando Alonso Pérez-Chao and Elisabeth Pipic
wide shifts necessary to dismantle barriers for for their leadership of this project, as well as to our
marginalized communities and in so doing, unlock colleagues Attilio Di Battista and Eoin O’Cathasaigh
greater prosperity for everyone. for their support.

To accelerate progress, the World Economic The initiatives presented in the report are a
Forum’s Centre for the New Economy and Society testament to the power of corporate action and
launched the DEI Lighthouse Programme in the transformative potential of DEI efforts in shaping
2022, an annual effort designed to pragmatically a resilient and inclusive global economy. We invite
identify impactful corporate DEI initiatives. The leaders from public and private sectors to join us on
first edition of the programme, run in collaboration this journey, championing and stewarding diversity,
with McKinsey & Company, identified a cohort equity and inclusion in the business ecosystem.
of eight DEI Lighthouses. In its second iteration, Together, we can shape an economic future that
the Centre has identified a new set of seven provides opportunities for all.

Diversity, Equity and Inclusion Lighthouses 2024 4

Executive summary
Shaping an inclusive global economy by
scaling impactful corporate DEI initiatives.

The Diversity, Equity and Inclusion Lighthouse progress and creating accountability mechanisms for
Report 2024 provides an overview of the latest organizations and leaders to advance DEI outcomes.
trends and emerging best practices in fostering
diversity, equity and inclusion (DEI) in organizations The Lighthouse section of the report profiles initiatives
worldwide. It highlights the importance of DEI from companies that have made significant strides
both from a values and economic perspective and in building more diverse and inclusive organizations,
showcases “Lighthouse” initiatives that are leading providing actionable insights and lessons learned to
the way as impactful DEI practices. all, no matter where they are on their DEI journey.
The report is also intended to be a resource for any
The report underscores the critical role of leadership organization committed to making DEI a core part
in driving DEI initiatives and the need for a systemic, of its strategy and culture. It is designed to offer
integrated approach to DEI, rather than isolated inspiration and building blocks to those beginning their
programmes or initiatives. It also emphasizes the DEI journey and insights from the frontier for those
importance of data and transparency in tracking looking to take their efforts to the next level.

Diversity, Equity and Inclusion Lighthouses 2024 5

 Introduction
Amid economic volatility, organizations continue
investing in DEI, fostering resilience and
innovation for sustainable economic growth.

1.1 Current context

Current global landscape: challenges, global Companies that prioritize equity and inclusion are
inequalities and systemic gaps also more likely to attract and retain top talent,
resulting in a higher-performing workforce: recent
Amid slowing economic momentum and ongoing research suggests that organizations with inclusive
geopolitical shocks, the current global context cultures are 3.8 times more likely to harness the
remains volatile. Wealth and income gaps continue full potential of their employees, and to experience
to widen, trust in institutions is eroding, and systemic lower turnover rates as employee morale tends
and systematic gaps in economic opportunities to be higher. Additionally, research shows that
for underrepresented groups persist.1 The ongoing inclusive decision-making processes build teams that
technological and green transformations are creating outperform homogenous and hierarchical ones.7
new centrifugal forces and will reinforce historical
patterns of inequality if left unchecked. There is growing recognition among businesses
that equity can only be achieved through shared
The International Monetary Fund (IMF) projects accountability, intentionality and proactive
global growth to slow in 2024.2 This near-term partnerships. In today’s globalized workforce and
outlook together with greater economic volatility interconnected economy, embracing DEI is not just
predicted for the longer term as well as uncertainty a moral imperative, but also a strategic one that
around new sources of growth is adding promotes sustainable growth and builds agile and
disproportionate pressure on the most vulnerable. flexible organizations capable of weathering global
The World Economic Forum’s Global Gender Gap risks and challenges.
Report 2023 indicates a long road of 169 years to
close the economic participation and opportunity Progress made, challenges ahead
gap between men and women.3 Economic gaps
for people of colour, individuals with disabilities and In 2020, there was a significant shift in the corporate
LGBTQI+ individuals also remain significant. sector’s approach to DEI, with more organizations
than ever making public commitments, establishing
At the same time, and despite crisis setbacks and ambitious diversity goals and taking a stance on
growing polarization in some parts of the world, societal issues. More than three years on, some
an increasing number of companies are investing progress has been made. Recent research by
significant resources to build more diverse and Bloomberg8 shows that the year after Black Lives
inclusive organizations, proactively embedding Matter protests, the S&P 100 added more than
and supporting measures that address systemic 300,000 jobs, out of which 94% went to people of
inequity. Taken together, these efforts are building colour. The 2023 Future of Jobs Survey indicates
the foundations for more resilient economies that that over two-thirds of surveyed organizations
include employees, consumers and business currently have a DEI programme in place.9
owners from all societal segments.
However, progress reporting has been inconsistent,
The economic case for diversity, equity and immediate, individual outcomes still need to
and inclusion be turned into cultural and economy-wide shifts
necessary to dismantle barriers for marginalized
Extensive research underscores the long-term benefits communities and in so doing, unlock greater
of inclusive policy-making, business strategies and prosperity for everyone. The corporate landscape
sustained diversity programmes in the private and has been challenging for DEI leaders, with 60% of
public sectors.4 More diverse leadership teams chief diversity and inclusion officers (CDIOs) at S&P
make higher quality, more fact-based decisions, and 500 companies leaving their positions between
tend to be more innovative,5 developing products 2018 and 2021.10 As 2023 comes to an end,
and solutions that reach a wider range of people. In the rise in polarization in some regions and other
addition, organizations with a more diverse workforce emerging trends are leading executives and DEI
are more adaptable to change6 and thus more likely practitioners to re-centre approaches, reinforcing
to lead transformations. the need for more clarity on the initiatives that work,

Diversity, Equity and Inclusion Lighthouses 2024 6

 and the need for organizations to act collectively their adaptability to change,11 and thus their
to create long-lasting and meaningful impact. likelihood to lead economic, technological and
societal transformation. To surface, highlight and
The DEI Lighthouse Programme scale these efforts, the World Economic Forum’s
Centre for the New Economy and Society annually
As the business and economic rationale for DEI invites submissions into the DEI Lighthouse
remains strong, and an increasing number of Programme. The effort is designed to pragmatically
organizations are trailblazing innovative approaches identify corporate initiatives that have resulted in
to become more diverse and inclusive, they increase significant, quantifiable and sustained impact.

1.2 DEI Lighthouse Programme

Introduction to the programme The focus on the workforce remains a significant

trend across both DEI Lighthouse cohorts. Many
In its second edition, the DEI Lighthouse report of the initiatives submitted and selected in the past
showcases seven impactful DEI initiatives, aiming two years are internal and workforce-focused,
to equip leaders with the necessary insights to underscoring the understanding that internal
contribute to faster DEI impact across the global change precedes external impact. Organizations are
business community and policy-making space. recognizing that to drive DEI externally, they must
first cultivate an inclusive culture internally. However,
2022-2023 trends observed it is important to note that businesses have many
more levers at their disposal to take a whole-of-
As the DEI Lighthouse repository continues to grow, business approach, including ensuring technological
one trend observed is the diversity of geography in fairness, inclusive innovation processes, marketing
DEI efforts across the corporate ecosystem. Both the and branding, external partnerships to advocate for
2023 and 2024 DEI Lighthouse reports include bold, change and support the communities within which
innovative and impactful initiatives that either have they operate, as well as building diverse and inclusive
a global reach and/or originate from organizations supply chains, among others. By leveraging these
around the world, including from Australia, Ecuador, additional areas, businesses can extend their impact
Germany, Hong Kong SAR, India, Japan, the beyond their immediate workforce and contribute to
Netherlands, Sweden, Türkiye, the United Kingdom broader societal change.
and the United States, with submissions coming
from an even broader range of countries. This Finally, the submissions suggest that gender parity
geographical diversity underscores the global nature continues to be a key systematic impact focus in
of the DEI movement and the universal relevance of DEI. This is largely due to its data dimension, as
its social and economic goals. gender data is relatively easy to collect and analyse,

Diversity, Equity and Inclusion Lighthouses 2024 7

 making it a natural starting point for many DEI the target population and/or the organization’s
initiatives. Furthermore, women constitute 50% size, degree of transformative impact on the
of the world population, and efforts to achieve target group(s).
gender parity have been ongoing for a longer
period, lending a certain maturity to this dimension. – Quantifiability: assessing use of metrics to
However, DEI encompasses more than gender, measure and drive further impact, based on a
and therefore, as DEI initiatives mature, it is crucial clear definition of the metrics, regularity of tracking,
to broaden the focus and strive for inclusion and and the use of metrics towards accountability.
equity across other dimensions, including racial and
ethnic equity, LGBTQI+ inclusion, and inclusion of – Scalability: assessing future-impact potential
persons of disabilities, among other dimensions of within or beyond the organization based on the
human diversity. Organizations are encouraged to set-up of the initiative, how the initiative has
submit initiatives across all dimensions of diversity been scaled to date, and the future targets and
into the 2025 DEI Lighthouse cycle. definition of a path forward.

Process and methodology for identifying DEI – Sustainability: assessing the sustainability of
Lighthouses and associated success factors the initiative and potential for long-term impact,
based on the length of time that the initiative
Following a call for submissions by the World has been running, the initiative structure and
Economic Forum’s Centre for the New Economy governance, and the extent to which the
and Society, an independent panel of DEI experts organization is mainstreaming the initiative into
(see Appendix for the group of experts who its core business strategy.
formed this year’s panel) with diverse backgrounds
and expertise selected the 2024 cohort of The panel identified seven DEI Lighthouse initiatives
Lighthouses and highlights against the following based on the criteria and highlighted six additional
predetermined criteria: initiatives with specific principles for leaders to learn
from. Additionally, building on the previous edition
– Significance: assessing the magnitude of of the DEI Lighthouse Programme, a DEI-focused
impact based on change against a baseline, team has identified a number of success factors
number of people affected relative to the size of common across the Lighthouse cases.

1.3 Common success factors across DEI

Lighthouse initiatives

Five common success factors tend to mark underrepresented groups. While there is no one-
the initiatives that yield the most significant, size-fits-all solution, these elements can help set
scalable, quantifiable and sustained impact for up an organization’s DEI initiatives for success.

FIGURE 1 Five common success factors across DEI Lighthouse initiatives

Nuanced Meaningful Accountable Solution designed Rigorous

understanding definition of and invested for context tracking and
of root causes success business leaders course correction
Understand the Set clear and Set initiative as a core Develop solutions Define KPIs and
problem with a deep quantifiable business priority that address the implement rigorous
fact base aspirations (what root causes, with tracking process
and by when) scalability in mind

Identify the Articulate a clear Hold senior leaders Integrate changes Use data and
root causes case for change that accountable for into key processes feedback to course-
moves employees outcomes, not just and ways of correct as needed
to action inputs or activities working, so impact
is sustained

Get input from the Model and lead Equip and encourage
target population, desired change, employees to
initially and starting with the CEO contribute
throughout and senior leaders

Prioritize and Ensure resources

sequence for longevity in the
problem areas budget, expertise
and timeline

Diversity, Equity and Inclusion Lighthouses 2024 8

2 DEI Lighthouses
and highlighted cases
Surfacing and scaling successful DEI
initiatives across the business ecosystem.

2.1 DEI Lighthouses

This section details each of the seven DEI – Initiative geography: global reach (4), Ecuador
Lighthouse initiatives selected by the independent (1), Hong Kong SAR (1), US (1)
expert panel for meeting predetermined impact
benchmarks. Given that there is no one-size-fits- – Initiative scope: external (2), internal (5)
all solution for advancing DEI and driving enduring
impact, the intention of this section is not to provide – Target population: women (4), LGBTQI+
a list of initiatives to replicate, but to illustrate key people (1), traditionally underrepresented groups
elements of what contributed to each initiative’s (1), parents (1)
impact. The “key actions” portion of each case
provides a real-life example of the common success – Types of solutions: financial inclusion for women
factors outlined in Section 1 of this report. The and women entrepreneurs, women in sales,
cases can serve as reference points for what works women on boards of directors, women CEOs,
when considering how to improve DEI efforts within reboarding programme for parents, self-ID
the context of an organization. campaign, and sense of belonging and inclusion.

The seven Lighthouse cases vary by The expert panel also highlighted “stand-out”
aspiration, target population and other approaches from six other submissions. Snapshots
characteristics as follows: of each of these highlights follow the seven
Lighthouse case profiles and provide additional
real-life examples of initiatives designed to improve
DEI outcomes for underrepresented groups.

Diversity, Equity and Inclusion Lighthouses 2024 9

 FIGURE 2 DEI Lighthouses 2024

Organization Description Impact snapshot

Closing the financing gap between men and women – Between December 2020 and May 2023, company
in Ecuador by changing internal policies, designing has closed the financing gap between men and
products and services specific for women, and issuing women by 16%.1
gender bonds for women entrepreneurs.
– Currently, women represent 48% of their
4 million customers.
– In the microfinance segment, women represent
56% of customers.

Increasing representation of women in sales through – Representation of women senior managers in

efforts put towards attraction, retention and development the sales function grew from 9% in 2020 to 19%
of women in the function as well as the facilitation of an in 2022.
inclusive workplace.

Advancing gender diversity in boards of issuers listed on – Percentage of female directors on boards of listed
HKEX by banning single-gender boards and regulating issuers increased from 14.4% in 2020 to 17.3% (as
minimum board gender diversity requirements of issuers of December 2023).
and listing applicants.
– Percentage of listed issuers with no female director
decreased from 31.5% in 2020 to 20.2% (as of
December 2023).

Achieving a 50/50 gender balance and pay equity – 50.2% of all manager positions across the company
across all their business. are occupied by women.
– 48% of country CEO positions are occupied by
women, compared to 28% in 2013.
– 61.6% of manager positions reporting to CEO
in country management teams are occupied
by women.
– Pay gender gap currently tracks under 5% across
organization, in all levels.

A reboarding programme to ensure that all colleagues – Since programme start, saw a 20% decline in
(men and women) are well supported from leaves greater attrition among EU consultant mothers returning
than 12 weeks by providing them with structural support from leave.
and resources to ensure successful re-entry and, by
doing so, reducing attrition gaps between them and the – Since 2019, 1,100 European parents have
rest of the firm. benefitted from the programme (600 European
consultant mothers).
– Over the past year, scaled programme to all their
offices. To date, more than 1,500 colleagues
globally have qualified to use the programme.

Promoting LGBTQI+ inclusion and awareness by – 12,475 employees globally across 33 countries
launching a global self-ID campaign, leveraging have voluntarily self-IDed their sexual orientation
technological tools and trainings that incentivise and gender identity.
self-ID across the entire business.
– About 63,000 employees globally across 71
countries have updated how their name is displayed
to their preferred name.2
– 7,400 employees globally across 36 countries
shared their pronouns.

Increasing sense of belonging among underrepresented – Since 2020, the programme has supported over
groups by connecting employees with internal coaches 2,400 employees, with a proven high degree
and thought partners for confidential discussions, of transformative impact at the individual level.
which help overcome systemic barriers affecting Additionally, Salesforce utilized 1:1 engagements
their experience, career, or sense of belonging. This to share anonymized feedback with business
programme also uses anonymized feedback from leadership, which has fuelled several new internal
these discussions to identify insights that can drive DEI initiatives.
systemic changes, with the ultimate goal of improving
organizational culture and fostering a stronger sense
of belonging.

1. This is calculated by comparing the total amount of outstanding loans to women and the total amount of outstanding loans to men 2. PepsiCo recognizes that
the needs of its associates vary across the organization, including where some individuals may want to be referred to by a name that is different from their legal
name for a multitude of reasons. As such, PepsiCo has updated its employee data system so that associates have the option to update their first name, last name,
or both. Using a person’s Display Name is a form of mutual respect and basic courtesy.

Diversity, Equity and Inclusion Lighthouses 2024 10

 Banco Pichincha
Internal effort, Gender equity

Closing the financing gap between men and women

in Ecuador by changing internal policies, by designing
products and services specific for women, and by
issuing gender bonds for women entrepreneurs.

Company stats

According to the World

Economic Forum’s Global
Gender Gap Report 2023,12
– 5,000-9,999 employees
at the current pace of – $1,758 million revenue
progress, Latin America – Headquartered in Ecuador
and the Caribbean will – Financial services and capital markets
take 53 years to attain
full gender parity across
health, education, economic
opportunity and political
empowerment, the fastest Initiative context and objective
speed of travel across all
regions. Yet, gaps remain Since 2011, Banco Pichincha has collaborated with different international
wide when it comes to organizations to design an institutional gender parity strategy. They identified
financial inclusion. Currently, that, in Ecuador, only 43% of women have access to a bank account.14 To
in Ecuador, only 43% of
address this disparity, Banco Pichincha has implemented a series of internal
women have access to
an account in the formal
and external policies promoting gender parity and has introduced a range
financial system,13 leaving of financial products and services tailored specifically for women, including
57% of women excluded a gender bond worth $100 million to promote access to financing for
from accessing even basic women entrepreneurs.
financial services.

Impact highlights

– Between December 2020 and May 2023, the company has closed the
financing gap between men and women by 16%.15
– Women currently represent 48% of their 4 million customers.
– In the microfinance segment, women represent 56% of customers.
– In the CNB16 segment, women represent 64% of customers.

Additionally, in the period of 2020-2023:

– Women’s micro, small and medium enterprise (MSME) portfolio

has grown 54%.
– The organization grew women MSME client portfolio by 30%.
– Female MSME clients that transact through digital channels
grew by 136%.
– More than 30,000 women have benefited from a non-financial offer.17

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 11

 Banco Pichincha
Internal effort, Gender equity (continued)

Key actions financial credit worthiness of their husband considered. On

the other hand, it designed products and services specific
1 Nuanced understanding of root causes for women and issued gender bonds specific for women
entrepreneurs. By doing this, Banco Pichincha contributed to
Since 2011, Banco Pichincha has collaborated with different shift mindsets while generating opportunities for women to
international organizations to assess Ecuador’s financial access finance. The bank also designed internal programmes
gender gap and to develop actions that could contribute that support its female workforce, including several initiatives
to closing it. The bank identified several barriers preventing for the empowerment of women and the promotion of women
women from accessing finance, including gender stereotypes, in leadership. These include motherhood support (fomenting
obstructive national legislation, and lack of financial products co-responsibility of parental care), family guidance services
designed for women and women entrepreneurs. Banco and creating safe spaces based on an internal guide, No
Pichincha subsequently collaborated with national and Violence Against Women, in collaboration with UN Women.
international institutions to better understand and tailor their
initiative to the needs of the target community. 5 Rigorous tracking and course correction

2 Meaningful definition of success The four main indicators used to track progress are: access
to financing for MSMEs led by women, measured by the
Banco Pichincha set itself an institutional objective to close percentage of women’s loan portfolio versus total loan
the financing gap between men and women to 24% between portfolio; financial inclusion of women in the microfinance
2019 and 2024.18 Additionally, the bank set itself the goal and SME segments, measured by the number of new
to change policies, gender stereotypes and advocate for microfinance and SME female clients and number of active
changes in legislation that were preventing women from female clients; digital financial inclusion of women in the
accessing finance. micro and SME segments, measured by the number of
active digital female clients; and growth of businesses led
3 Accountable and invested business leaders by women through a non-financial offer, measured by the
number of women benefiting from financial education and
This initiative has been promoted by the presidency of Banco training in management skills.19 To ensure rigorous tracking
Pichincha and has been prioritized as a key pilar of the bank’s and course correction, Banco Pichincha created an internal
core business strategy. As a bank, it identified a market commission that manages, monitors and measures the
opportunity in women entrepreneurs, not only because of the initiative’s progress. Additionally, the bank included a gender
global growth trend in this segment and their genuine interest lens in all its dashboards and statistics in order to make the
in generating inclusion and closing financial gaps, but also right decisions throughout.
because they have evidenced particular conditions in this target
group such as: higher customer retention, better payment
behaviours, lower levels of delinquency and greater focus on Advice for others and next areas of focus
savings, which make this market a business opportunity.
Banco Pichincha’s efforts in the future will continue to focus on
4 Solution designed for context closing gender financial gaps, as the bank firmly believes that
women’s economic progress is a fundamental element for
The bank developed solutions specific for the context in sustainable economic growth, poverty reduction and long-
Ecuador. On the one hand, it changed policies that deprived term prosperity. Its advice to achieve sustained impact is to
women from accessing finance, including a policy that ensure that gender parity objectives are tied and embedded to
required married women applying for finance to have the the broader institutional and business strategy.

Diversity, Equity and Inclusion Lighthouses 2024 12

 HEINEKEN
Internal effort, Gender equity

Increasing representation of women in sales

through efforts put towards attraction, retention,
and development of women in the function, as well
as the facilitation of an inclusive workplace.

Company stats

Global data shows

persistent skewing in
women’s representation in
– 50,000 - 99,999 employees
the workforce and leadership – €28,7 billion revenue in 2022
across industries.20 – Global company operating in 80 countries, headquartered in
Compared to other The Netherlands
industries, wholesale – Production of consumer goods
is characterized by one
of the lowest levels of
representation of women
already at the entry-level
(38%) and a relatively Initiative context and objective
steep “drop-to-the-top” to
19% representation at the Despite 24% of women employees in the overall company workforce,
C-Suite level. At a more HEINEKEN found that only 9% of senior sales management roles in the
granular level, the sales
organization were occupied by women in 2020. The goal of the Women in Sales
function, in particular in the
beverage industry, is still
programme is to increase representation of women managers in sales through
predominantly held by men, efforts addressing recruitment, retention and development of women in the
replicating the “salesman” function. These efforts are complemented by a robust communication plan with
stereotype.21 the sales population, which aims to create a more inclusive culture for women
and to facilitate cross-pollination of ideas across all regional departments.

Impact highlights

– Representation of women senior managers in the sales function grew from

9% in 2020 to 19% in 2022.

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 13

 HEINEKEN
Internal effort, Gender equity (continued)

Key actions sales directors. At a local level, every centre of operations

appointed a dedicated DEI leader who works with the sales
1 Nuanced understanding of root causes director to drive action. HEINEKEN’S aim to increase the
representation of women in the sales function is included in
In 2020, HEINEKEN conducted an initial diagnostic of the KPIs (performance objectives) and has been included as a
challenges and barriers faced by women in the sales function, key pillar in the company’s commerce strategy.
conducting extensive internal research that included surveys
and focus groups. The initial diagnostic identified that only 4 Solution designed for context
9% of senior manager positions in the sales function were
occupied by women. HEINEKEN’S annual climate survey To tackle this gender imbalance, all HEINEKEN operations
showed that women in sales scored inclusion less positively were asked to design a solution to increase the number of
than male sales employees, which also indicated the need women in their salesforce by 2025. Each operation centre
for a tailored inclusion campaign within the function. had an action plan with specific actions and KPIs relating
to recruitment, retention, development and creating an
To understand the focus areas and hear from the women inclusive workplace.
themselves, HEINEKEN surveyed over 300 women in sales
across 40 operating companies, and all male sales leaders. At a global level, HEINEKEN developed a robust
The results showed that the principal areas that women communication plan that engages the sales function regularly
highlighted were the lack of career conversations and and provides a platform to address the challenges faced by
opportunities, and a general unconscious bias in the function women in sales, facilitating cross-pollination of ideas across
against progression for women. This helped HEINEKEN the world. While led globally, the initiative is implemented
prioritize its global efforts toward talent management and locally according to the reality of each operating company,
acceleration of development for women in sales, as well which sometimes requires revisiting the specific context of
as a robust communication plan that is directed towards each country in which it operates.
demystifying gender bias and highlighting stories from the
women in sales. At the same time, HEINEKEN understood This topic is regularly brought to the Global Commerce Talent
that each country and region would have its own barriers, Committee, a body of leaders including the chief commercial
so leaders were encouraged to host listening and dialogue officer that oversees talent management of senior sales
sessions in operating companies to understand local barriers leaders and make decisions on senior sales vacancies at
and develop their own action plans. HEINEKEN. This committee ensures there is at least one
female candidate in the shortlist of candidates assessed for
2 Meaningful definition of success every senior sales vacancy. All interviews also take place
with a gender-diverse panel of interviewers to avoid biases.
Following the initial diagnostic, HEINEKEN set a clear
ambition of increasing representation of women senior 5 Rigorous tracking and course correction
managers in sales to 25% by 2025 in all their operations.
To ensure this goal could be met, the company divided its To measure success and track progress, HEINEKEN uses
objectives into three focus areas: recruitment, retention and one key metric: percentage of women in sales manager
development, with specific actions and KPIs. To articulate a roles. Additionally, to ensure the company is also contributing
clear case for change that moves employees to action, each to creating a more inclusive culture for women, it tracks
sales director from each operating company held listening inclusion sentiment of women in sales via its inclusion index,
and dialogue sessions with the men and women in their which is obtained from an annual climate survey. One of the
salesforce to understand the barriers faced by women in learnings HEINEKEN implemented in 2023 was to move to
their teams. an even more individualized and focused approach for each
operating company.
3 Accountable and invested business leaders

Sponsorship from the company’s top leadership has been Advice for others and future scale
critical to drive meaningful actions across their global
operations. Global and regional executives mobilized leaders HEINEKEN believes in the importance of listening to its
from all HEINEKEN operations, ensuring this programme was employees, ensuring strong sponsorship and accountability,
prioritized and impact was tracked on a regular basis. The and customizing its approach with a global and local approach
initiative was driven both locally and globally. At a global level, that is connected to the company’s global DEI strategy. To
the global DEI team and the global commerce HR team were activate change at scale, HEINEKEN plans to re-apply some
involved from the people function. The core team works very of the key actions to other functions in the business, such as
closely with the global sales director and respective regional conducting a specific survey in areas like procurement.

Diversity, Equity and Inclusion Lighthouses 2024 14

 Hong Kong Exchanges
and Clearing Limited (HKEX)
External effort, Gender equity
Advancing gender diversity in boards of issuers
listed on HKEX by banning single-gender boards
and regulating minimum board gender diversity
requirements of issuers and listing applicants.

Company stats

According to the World

Economic Forum’s Global
– 1,000-4,000 employees
Gender Gap Report 2023, at
the current rate of progress, – HK$18.5 billion revenue
it will take 189 years to – Headquartered in Hong Kong SAR, China
close the gender gap in – Financial services and capital markets
East Asia and the Pacific.22
In Hong Kong’s financial
service sector, research
shows that while 52% of Initiative context and objective
entry-level positions are
occupied by women the
As a market regulator for more than 2,600 companies listed in Hong Kong,
ratio falls to one-third at
Hong Kong Exchanges and Clearing Limited (HKEX) is leveraging its regulatory
senior management level
and to 21% at the board capabilities to promote good corporate governance and strong ESG
level.23 The “drop-to-the-top” management among all issuers by setting robust disclosure standards, rules
in female representation from and regulations. By making it mandatory for listed issuers to have at least one
entry level to C-suite globally female director on their board, HKEX is showcasing the important role that
remains substantial across regulation can play in advancing gender parity in leadership positions.
all industries and will require
continued focus.24

Impact highlights

– Percentage of female directors on boards of listed issuers increased from

14.4% in 2020 to 17.3% (as of December 2023).
– Percentage of listed issuers with no female director decreased from 31.5%
in 2020 to 20.2% (as of December 2023).

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 15

 Hong Kong Exchanges and Clearing Limited (HKEX)
External effort, Gender equity (continued)

Key actions
4 Solution designed for context
1 Nuanced understanding of root causes
To improve the representation of women in leadership
HKEX has conducted periodic reviews of issuers’ corporate positions, HKEX developed solutions that address the root
governance practices, including issuers’ progress on diversity. causes of the problem. Since 2019, HKEX has required all
In 2021, HKEX launched a market consultation, outlining its Hong Kong-listed issuers to disclose their diversity policies,
proposals to enhance board and workforce diversity of listed and mandated additional disclosure requirements for single-
issuers. The new requirements introduced in 2022 took into gender board listing applicants. In January 2022, HKEX
account market feedback and reflected the positive buy-in updated its Corporate Governance Code to put an end to
from the market. By driving greater boardroom diversity first, single-gender boards on its exchange by the end of 2024,
HKEX is raising awareness as well as ensuring that diversity and required issuers to review the implementation and
is being embraced from the top leadership. As a market effectiveness of their board diversity policies, set targets
regulator overseeing more than 2,600 listed issuers, HKEX and timelines, and monitor their DEI progress. Recognizing
recognized that the rules and guidelines it has put in place that diversity is not confined to the boardroom, the 2022
were critical to promoting diversity across its markets. update also required issuers to disclose their workforce
gender ratio and plans or measurable objectives for achieving
2 Meaningful definition of success gender diversity in the workforce. HKEX has also banned
all single-gender board listing applicants looking to IPO in
Given the lack of representation of women on listed issuer Hong Kong since July 2022. To complement these efforts,
boards in Hong Kong (14.4% in 2020), HKEX set out to HKEX launched various training courses and published
increase representation of women across issuers’ boards guidance materials to promote diversity among its listed
of directors, and to phase out boards that had no female issuers. Additionally, HKEX partnered with local and global
representation. Cognizant that its influence goes beyond its organizations to advocate for diversity in financial markets.
duties as a market operator and regulator, HKEX also set
a goal to play a major role as a diversity advocate, through 5 Rigorous tracking and course correction
offering free training to issuers and the market, adopting
international best practices and extending its drive on To ensure sustained impact, HKEX regularly measures market
diversity into the community. progress, including the percentage of female directors on
its issuers’ boards, and the percentage of issuers with no
3 Accountable and invested business leaders female director. HKEX, as a regulator, also regularly reviews
the Corporate Governance Code in Hong Kong and keeps
Diversity is one of five core corporate values for HKEX, abreast of international developments to ensure that its
actively championed by its leadership through initiatives that regulatory framework remains fit for purpose and meets
promote DEI across their business, markets and the wider stakeholder expectations.
community. For example, in 2013, HKEX implemented a
board diversity policy to help achieve strong gender diversity.
The company appointed its first female chairperson in 2018, Advice for others and next areas of focus
four women sit on its 13-person board of directors and
39% of senior management consist of women. Moreover, This initiative is designed with clear future targets and aims
the HKEX Foundation supports diversity programmes in the to provide a foundation to further scale. By the end of 2024,
broader community with a focus on ethnic minorities, women issuers with single-gender boards must bring at least one
and young adults with special educational needs in Hong female member onto their board of directors. Given that there
Kong. HKEX’s ban on single-gender boards is just the latest are currently approximately 20% of issuers with no female
in its ongoing efforts to promote DEI across its markets as a board directors (as of December 2023), this policy will pave
regulator and operator; the sponsorship of HKEX’s leadership the way for some 520 female board positions in Hong Kong,
has been a key success factor of this initiative. all to be filled by the end of 2024. Additionally, HKEX has
included other dimensions of diversity into its regulations: in
2019, HKEX asked issuers to disclose their diversity policy,
which may encompass gender as well as other diversity
strategies, including LGBTQI+ inclusion, disability inclusion,
and racial and ethnic diversity strategies. HKEX has reflected
these commitments in its own actions, and diversity is a very
visible and broad focus for the group.

Diversity, Equity and Inclusion Lighthouses 2024 16

 Ingka Group (IKEA)
Internal effort, Gender equity

Achieving a 50/50 gender balance and

pay equity across all their business.

Company stats

According to the World

Economic Forum’s Global
Gender Gap Report 2023, at
– 99,999-100,000 or above employees
the current rate of progress, – €44.3 billion revenue in FY23
it will take 131 years to – Global company, headquartered in the Netherlands
close the gender gap at – Retail and wholesale of consumer goods
the global level.25 The share
of women in leadership
roles globally has increased
steadily in recent years, yet
this trend is showing signs Initiative context and objective
of reversal since 2022. The
“drop-to-the-top” in female More than a decade ago, the Ingka Group – the largest IKEA retailer –
representation from entry committed to achieving gender parity across its entire business. To do this, the
level to C-suite remains company designed tailored approaches and action plans for each business
substantial across all
unit and country, created mentorship programmes and developed inclusive
industries. Achieving gender
parity in leadership is a key
succession plans. It also introduced gender-neutral salaries and measured and
lever for addressing broader corrected the pay gap. DEI goals are tied to each team manager’s talent review,
gender gaps in households, with a DEI leader in every region appointed to maintain oversight and secure
societies and economies. KPIs are in place. Currently, the organization has achieved gender balance and
pay equity across their business.

Impact highlights

– 50.2% of all manager positions across the company are

occupied by women.
– 48% of country CEO positions are occupied by women, compared to
28% in 2013.
– 61.6% of manager positions reporting to CEO in country management
teams are occupied by women.
– Pay gender gap currently tracks under 5% across organization,
in all levels.

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 17

 Ingka Group (IKEA)
Internal effort, Gender equity (continued)

Key actions trainings to foment intentional hiring and promotion methods

that support women. Its mentorship programmes for women
1 Nuanced understanding of root causes have proven to be a key enabling factor to advance gender
parity, with surveys showing that women who have progressed
The Ingka Group has had extensive data collection in their career have greatly appreciated the figure of a mentor.
mechanisms in place for years, enabling it to assess its To achieve pay equity, the company introduced a gender-
gender parity status, gaps and areas for improvement. These neutral salary review process, which is reviewed by an external
mechanisms gather data on women’s representation and the auditor. Gender parity targets have been adopted globally
gender pay gap across all business units and levels. Data and included in the organization’s culture across all regional
is continuously monitored and serves as a basis for internal contexts. However, the Ingka Group implemented some local
reviews and to set KPIs for their gender parity strategy. To initiatives adapted to specific regional contexts, including
ensure these efforts had input from the target population, on-premises childcare services to support working mothers
IKEA Women’s Open Network (IWON) has engaged senior in several countries in Asia. The company has also launched
women and men from around the globe to identify enablers guidelines that support gender well-being at different life stages
and barriers for women to progress into management (menopause, menstruation and andropause). These efforts
positions, which was a catalyst for other countries and have been complemented with educational programmes to
markets to establish their own local women networks. ensure employee engagement and commitment to achieving
their gender parity goals.
2 Meaningful definition of success
5 Rigorous tracking and course correction
The Ingka Group has had a very clear ambition: achieving
gender parity and pay equity across all businesses and in all The goal of 50/50 gender parity throughout the company is
levels. To do this, the company designed a tailored set of goals perceived as a non-negotiable target that is prioritized from
and objectives for each business unit and country. To ensure middle management to senior leadership. This has created
employee engagement and contribute to mindset shifts, the a company culture that is significantly more inclusive or
organization complemented these efforts with educational, equitable than the regions in which it operates, and gender
mentorship and role modelling programmes, with tracked equity KPIs are treated with the same level of importance as
positive impact particularly in regions where the cultural overall business performance. Failure to meet gender parity
context was not always conducive to female leadership. targets requires the submission of a clear action plan and
timeline that demonstrates how the target will be met, which
3 Accountable and invested business leaders is then re-evaluated again after six months. The Ingka Group
also requires group and country management to report status
The executive leadership of the Ingka Group has demonstrated of gender equal pay to boards on an annual basis.
a robust commitment to advancing DEI as a key business
priority, ensuring it receives the necessary focus, prioritization
and allocation of both financial and human resources. Regular Advice for others and next areas of focus
reviews of progress are conducted within each business unit,
with action plans for gender parity goals being developed The Ingka Group’s advice for success is to remain honest
in alignment with wider business objectives. All managers and humble. While the company has made significant and
are tasked with gender parity objectives for their respective important progress towards gender equality, it believes there
teams, which are evaluated during their performance reviews is always more an organization can do to create a better
alongside the company’s overall business goals. everyday life for everyone. Its next area of focus is to launch
a new Gender Equality Beyond Binary approach, which will
4 Solution designed for context improve and sustain gender balance for trans* and non-binary
identities across all levels and functions and create equal
The Ingka Group designed a gender parity strategy that covers opportunities for all genders. There will be an increased focus
several areas: hiring, retention and promotion, pay equity on succession, networking and mentoring, as well as on
and organizational change. To ensure equal hiring, retention health and well-being for all genders, including the launch of
and promotion processes, the company has included gender transgender and non-binary inclusion guidelines. Additionally,
balance requirements to its hiring processes and developed the company will focus more on caregiving, including both child
inclusive succession plans, which is complemented with and adult caregiving, aiming to support equality at home.

Diversity, Equity and Inclusion Lighthouses 2024 18

 McKinsey & Company
Internal effort, Gender equity

A reboarding programme to ensure that all

colleagues – men and women – are well supported
from leaves greater than 12 weeks by providing them
with structural support and resources to ensure
successful re-entry and, by doing so, reducing
attrition gaps between them and the rest of the firm.

Company stats

Transitioning back to work

from parental leave can be
a difficult, uncertain time,
– 25,000-49,999 employees
especially for women, as – $15+ billion revenue
they tend to take on a – Global company, headquartered in New York
disproportionate share of – Research, design and business management services
household and childcare
work while also balancing
their career. According to
the International Labour
Organization,26 women Initiative context and objective
perform 75% of unpaid care
work globally, a significant After analysing its internal retention metrics, McKinsey & Company observed
barrier to gender equality. higher attrition rates among mothers returning from leave as compared to
attrition among the rest of their colleagues. Drawing from its own research
and from the lived experiences of its leadership and consultant parents, the
company created a reboarding programme that would ensure all colleagues
(men and women) were supported in their return from leaves greater than 12
weeks, while reducing attrition gaps between them and the rest of the firm. The
programme was formally implemented across all its European offices in 2019,
spanning 29 countries and 56 offices, and successfully scaled globally in 2022.

Impact highlights

– Since its start, the programme has seen a 20% decline in attrition among
EU consultant mothers returning from leave.
– Since 2019, 1,100 European parents have benefitted
from the programme (600 European consultant mothers)
– Over the past year, the programme has been scaled to all offices;
currently, more than 1,500 colleagues globally have qualified for
the programme.

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 19

 McKinsey & Company
Internal effort, Gender equity (continued)

Key actions 3. Extra resourcing for the returning colleague’s client

team during their first six months back after leave,
1 Nuanced understanding of root causes aiming to facilitate the return to meaningful client
work and ensure sustainable team setups.
McKinsey & Company gathered a deep fact base to
understand experiences and outcomes of parents at the firm, 4. Calibrated performance evaluations for the first
specifically in Europe – the pilot region for the programme. post-leave review that build a more complete view
The company used data from a variety of sources (e.g. its HR of the returning colleague’s performance and affirm
system and annual employee survey) and augmented this by that their pre-leave skills have not changed.
interviewing individual parents across different roles, tenures
and life stages. This helped establish where the pain points 5. For all parents, broader parental supports available
were for colleagues along their parental journey and identify at any time, including part-time/flexible work
specific root causes that it wanted to address. McKinsey & models, an active, supportive community with fellow
Company realized that returning from an extended leave is a colleagues, a range of world-class parental benefits
“moment that matters” to many colleagues. It observed that (e.g. subsidized childcare, emergency childcare) and
majority of leaves taken in the firm were parental, and that parental leave programmes.
often women’s leaves were longer in duration. It also noticed
higher attrition rates among mothers returning from leave The programme was also adapted for regional context as the
as compared to attrition among the rest of the workforce. company scaled it across the globe. It is a global programme
Ensuring colleagues could be successful in returning with local ownership, giving the ability to make adjustments
from leave was therefore particularly critical to the firm’s for different local needs, including variable lengths of leave
commitment to improving women’s representation. and different parental support structures depending on the
local context (e.g. breast milk shipping programmes when
2 Meaningful definition of success available in a given market).

McKinsey & Company created a reboarding programme that 5 Rigorous tracking and course correction
would ensure all colleagues were supported in their return from
leaves greater than 12 weeks. It outlined what support would Alongside the rollout of the programme, McKinsey & Company
be required for consistent, high-quality programme delivery created a “tracker” to provide tailored support to colleagues
and developed an approach to equip business and functional before, during and after leave. The tracker includes data on
leaders to champion the programme. This entailed appointing use of the reboarding programme components, leave start/
individuals to be leads for the programme, hosting trainings return dates, and attrition within the first 12 months post-leave.
and knowledge-sharing meetings, and coordinating internal In addition, it developed an annual survey to collect feedback
communications and people process flows. It identified and from those who have recently returned, and offer a space to
defined success and tracking metrics and designed phased discuss attrition at regular leadership meetings, ensuring that
reporting/tracking processes (e.g. an initial tracking approach offices with specific issues have the support they need. Exit
and longer-term plans to build a more automated approach). interviews are also conducted to understand the changing
needs of parents and update the programme accordingly.
3 Accountable and invested business leaders

The reboarding programme became a business priority for the Advice for others and future scale
company, directly tied to its aspiration to improve women’s
representation in the firm. This included providing leaders with Though originally designed for consultants returning from
transparency on performance outcomes and ensuring the parental leave, the firm recognizes that colleagues returning
right resourcing to provide support existed across the firm. from other types of extended leave (e.g. health leave) face
similar challenges, so the programme is designed to support
4 Solution designed for context retention among a broader set of colleagues. For others
looking to create a similar programme, McKinsey & Company
The reboarding programme consists of five elements: suggests crafting a holistic programme that touches on
multiple aspects of the employee journey, designing a
1. A customized reintegration plan after returning from minimum offering that each local team can own, securing
leave, including comprehensive sponsorship support. sufficient resources and establishing clear success metrics
that can be tracked.
2. Individual coaching with professional executive
coaches to build personal plans – including
coaches with expertise coaching parents.

Diversity, Equity and Inclusion Lighthouses 2024 20

 PepsiCo
Internal effort, LGBTQI+ inclusion

Promoting LGBTQI+ inclusion and awareness

by launching a global self-ID campaign,
leveraging technological tools and trainings that
incentivise self-ID across the entire business.

Company stats

One of the key barriers

to promoting LGBTQI+
inclusion – and inclusion
– Above 100,000 employees
of other dimensions of – $86.39 billion revenue in 2022
diversity – stems from the – Global company, headquartered in New York
lack of data available about – Consumer goods
these underrepresented
communities. Self-ID
reporting is a crucial tool to
provide intersectional data
of a company’s workforce, Initiative context and objective
which allows for more
informed, impactful and This initiative is part of the organization’s global data-driven approach to
sustainable DEI internal DEI. To support the inclusion of LGBTQI+ employees, the company offered
programming. to associates, where legally permissible, the opportunity to self-identify on a
voluntary basis, and launched awareness-raising campaigns on the importance
of driving self-ID and including pronouns in employee descriptions to advance
LGBTQI+ inclusion globally.

Impact highlights

– 12,475 employees globally across 33 countries have voluntarily

self-identified their sexual orientation and gender identity.
– 63,000 employees globally across 71 countries have updated how
their name is displayed to their preferred name.
– 7,400 employees globally across 36 countries currently list
their pronouns.

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 21

 PepsiCo
Internal effort, LGBTQI+ inclusion (continued)

Key actions The organization plans to use data from this programme to
highlight the diverse composition of its workforce and the
1 Nuanced understanding of root causes positive outcomes of its inclusion strategies for LGBTQI+
individuals. Local human resources leaders in each region
PepsiCo has had a robust data collection tool in place are responsible for driving results on the global self-ID
for years, which tracks data, where permissible under campaigns and are trained to implement the practice with all
applicable law, on representation of women, racial and ethnic the associates in their teams, a process also supported by
minorities, persons with disabilities and veteran status (US the LGBTQI+ ERG in each region. The chief human resources
only), ultimately ensuring a data-driven approach to its DEI officers in each business sector at PepsiCo, where legally
strategy. Realizing the complexity of identity disclosure for acceptable, sent an email to their respective sectors to
certain dimensions of diversity, and acknowledging that one encourage all employees to utilize the self-ID options available
of the key barriers to promoting LGBTQI+ inclusion stems to them. Starting in 2024, PepsiCo will start sharing high-level
from the lack of data available, PepsiCo decided to expand anonymized representation data with key sector HR leaders.
its self-ID offering to include sexual orientation and gender
identity, where legally permitted, and launched a global self-ID 4 Solution designed for context
campaign driven by technological tools to incentivize self-ID
across the entire business, involving its LGBTQI+ Employee Deploying a self-ID campaign at the global level presents
Resource Group for feedback and advice. a series of complexities, which have required high levels of
adaptation, consultation and legal support. Before deploying
2 Meaningful definition of success the campaign, PepsiCo partnered with local lawyers to
understand different jurisdictions and adapt their self-ID
PepsiCo’s goal was to improve LGBTQI+ inclusion and approach accordingly. Additionally, to guarantee sustained
awareness by collecting more granular data about LGBTQI+ impact, PepsiCo combines a global approach with adapted
persons in the organization. To do so, it deployed a global local governance structures: with the current setup, the
self-ID campaign across all countries, where applicable legal ongoing communications for self-ID usage are embedded
regulations allowed, to gather employee data that can allow into centralized DEI internal communications, while the local
for more informed DEI representation of PepsiCo’s workforce. HR leads in each sector of the company are deployed as
To articulate a clear case for change that moves employee to enablers for success. The self-ID features are also located
action, PepsiCo provided internal trainings on the importance of in PepsiCo’s centralized employee profile system, which
self-ID and pronouns disclosure, ensuring that employees were employees can access on their own at any time, providing
aware of the importance and usefulness of this effort to create visibility to the options available to them.
a more equitable organization. PepsiCo believes that providing
an option to provide self-ID information will advance its DEI 5 Rigorous tracking and course correction
goals and further create a space where associates can bring
their authentic selves to work which in turn, enables them to fulfill PepsiCo’s Global DEI team keeps track of self-ID usage in
their maximum potential. Capturing self-ID information will enable each country on an ongoing basis, which is tracked via a
PepsiCo to track the recruitment, retention and development highly confidential and centralized process overseen by the
of LGBTQ+ individuals more effectively. It also assists to create global HR reporting team and is currently working on sharing
and elevate appropriate development programming and benefits high-level representation data with key HR leaders. PepsiCo’s
that account for their needs, as well as measure and increase Employee Resource Group on LGBTQI+ inclusion also shares
engagement among our LGBTQ+ associates. While PepsiCo will feedback regularly to improve the programme.
use this data to inform DEI strategy related to their population, it
will continue to make employment decisions in a manner that is
consistent with applicable law. Advice for others and next areas of focus

3 Accountable and invested business leaders PepsiCo’s effort is a significant example of how to mobilize
employees to gather data and thereby improve progress on
The sponsorship from PepsiCo’s senior leadership has been DEI. Global self-ID data collection is often regarded as one of
a critical factor for the success of the programme, which the most challenging strategic imperatives in DEI currently, often
has ensured that the necessary number of resources were due to legal constraints and stigma. This initiative provides a
allocated to achieve the desired goals across all geographies. clear plan on how to improve and scale data collection.

Diversity, Equity and Inclusion Lighthouses 2024 22

 Salesforce
Internal effort, Inclusion and belonging

Increasing sense of belonging among underrepresented

groups by connecting employees with internal coaches
and thought partners for confidential discussions,
which help overcome systemic barriers affecting
their experience, career, or sense of belonging.

Company stats

Human beings have an

innate basic need to
belong.27 In the workplace,
– 50,000-99,999 employees
evidence shows that when – $31.4 billion
people feel like they belong, – Global company, headquartered in San Francisco
they are more productive, – Information and technology services
motivated, engaged and
more likely to contribute
to their fullest potential.28
Recent workplace surveys
show, however, that 75% Initiative context and objective
of the workforce have
felt excluded at work, Salesforce created a DEI initiative called “Warmline” that was inspired by
with over half of global feedback from the organization’s employees. The programme aims to increase
worker respondents a sense of belonging among underrepresented groups. It offers confidential
feeling they cannot share,
one-on-one conversations with internal coaches and thought partners to
or are reluctant to share,
dimensions of their diversity
address any barriers to their experience, career, or sense of belonging at the
while at work. personal level. The programme also seeks information to uncover insights that
can inform necessary systemic changes, including new programmes, practices
and policies, ultimately aiming at improving organizational culture and overall
sentiments of belonging.

Impact highlights

– Since 2020, the programme has supported over 2,400 cases, with a
proven high degree of transformative impact at the individual level and an
increase in retention among participants.
– Programme-aggregated data received through one-on-one engagements
was used to provide business leadership with insights into employee
sentiment, which then fuelled several new DEI initiatives.

Below: @devotchkah/Envatoelements

Diversity, Equity and Inclusion Lighthouses 2024 23

 Salesforce
Internal effort, Inclusion and belonging (continued)

Key actions Salesforce has now seen an increase in retention among

programme participants since it was introduced in 2020.
1 Nuanced understanding of root causes The Office of Equality continues to leverage insights to
shape its employee programmes and services.
Salesforce regularly tracks progress against its DEI goals
and reports on these metrics to create transparency. The 4 Solution designed for context
company also collects data through its annual Great Insights
Survey, which includes items about the extent to which The programme is set up as an impartial and objective body
employees experience the Salesforce environment as diverse under the company’s Office of Equality, uniquely positioned
and inclusive. In addition, Salesforce conducts stay and as a distinct branch within the human resources department.
exit interviews, employee listening and equality circles to It serves as a safe space for underrepresented groups, acting
collect employee feedback. These reporting mechanisms, as an impartial and private entity within the organization. This
together with employee sentiment feedback, helped identify setup is critical to guarantee a safe space that can improve
inconsistencies in the workforce’s employee experience, employee experience and ultimately develop solutions that
which led to the creation of a programme focused on can address the root causes of the reported inconsistencies
inclusion and sense of belonging. in the employee experience for underrepresented talent. The
programme is led by coaches and thought partners with a
2 Meaningful definition of success deep knowledge of organizational psychology and emotional
awareness, who tailor their approach to each employee’s
The ultimate goal of this initiative is to improve the overall individual needs.
employee experience and create a path forward for employees
to reach their career goals and feel valued, heard, seen and 5 Rigorous tracking and course correction
supported in their roles, while also gathering feedback that can
be used to create new DEI programmes. These efforts also Salesforce rigorously tracks the number of participants and
aim at improving overall company retention, especially among satisfaction of each individual case. Through their post-
traditionally underrepresented groups. engagement feedback, it is able to uncover how helpful
each adviser’s intervention is, and whether participants
3 Accountable and invested business leaders would recommend and reach out to the adviser again. The
programme team also digs deeper into data where it sees
While the idea originated from Salesforce’s employee themes or repeated feedback and addresses it accordingly.
sentiment, it formalized into an official programme following The programme also seeks information to uncover insights
the organization’s leadership commitment and sponsorship. that can inform programmes, practices, policies, processes
In 2020, Salesforce’s Employee Success team piloted and pilot innovations across Salesforce.
the programme with a small group. It was then expanded
and transitioned under the Office of Equality. To ensure
sustained impact and longevity, the initiative was resourced Advice for others and next area of focus
with its own budget and expertise resources, including
retention specialists and professional coaches. Since Rolling out a programme built to improve inclusion, belonging
positive belonging sentiments significantly impact employee and retention requires buy-in and support from leaders across
retention, engagement and productivity, the programme was the organization. It also requires a commitment to continued
designed as a business imperative for the success of the firm. learning and iteration.

Diversity, Equity and Inclusion Lighthouses 2024 24

 2.2 Additional highlights
In addition to the cases above, the DEI Lighthouse other submissions. For each stand-out approach,
independent expert panel has highlighted “stand- the initiative context, objective and a snapshot of
out” design and execution approaches from seven the approach in practice are synthesized below.

FIGURE 3 Initiative design and execution

Company Highlighted principle by topic

Shaping the global ecosystem in which a company operates by intentionally engaging with and allocating
investments to diverse suppliers.

Debiasing performance review processes to ensure fairness and equal treatment for all employees.

Using an intersectional angle to identify the next generation of C-suite leaders.

Highly personalized upskilling programme to create a new talent pool of persons on the autism spectrum.

Combining internal and external efforts to shape more inclusive societies for persons on the autistic spectrum,
across all age groups and levels.

A highly personalized leadership programme for women that continues engagement and tracks progress
after completion.

Diversity, Equity and Inclusion Lighthouses 2024 25

 Baker Hughes
External effort, Supplier diversity programme, Value chains

Highlighted principle Highlight in practice

Shaping the global ecosystem in which a company operates In 2019, Baker Hughes established a supplier diversity team
by intentionally engaging with and allocating investments to responsible for diversifying its suppliers. Within two years,
diverse suppliers. the programme was scaled from the US to include Europe,
Australia and sub-Saharan Africa. As of 2023, Baker Hughes
deployed a structured framework for promoting these efforts.
Initiative context and objective The framework includes competency development and
management programmes on the importance of supplier
Baker Hughes launched a supplier diversity programme in diversity. It also mainstreams supplier diversity policies across
2019 to support local and global diverse suppliers that are all departments, while also establishing partnerships with third
owned, operated and controlled by minorities, women and parties that specialize in supplier diversity in different regions.
other traditionally underrepresented groups. As a key pillar
of its overall DEI strategy, Baker Hughes announced a $50 Through dedicated measurement tools, Baker Hughes
million investment in support of Minority Depository Institutions tracks relationships with its suppliers and consults and/
(MDIs) to help promote the growth of Black-, Hispanic- and or guides those that are lacking a diversity programme in
Latino-owned small businesses. The programme consists of order to incorporate diversity strategies into their business
scaling two key components: diversifying the overall pipeline segments. The supplier diversity team hosts approximately
of suppliers Baker Hughes partners with, and supporting six benchmarking sessions per quarter to educate teams
suppliers in, improving and/or implementing internal diversity on supplier diversity objectives and to expand its own
and inclusion efforts. As of 2023, the company has increased programme impact.
its diverse and small business opportunities from approximately
1% to 3%. These diverse and small companies consist of The next phase of the programme will be to mentor diverse
certified suppliers (women, disabled, LGBTQI+, ethnic minority- suppliers and provide them with broader visibility within the
owned, or Indigenous and Aboriginally-owned businesses); energy sector as a whole. Baker Hughes is committed to
self-identified suppliers, or small businesses. increasing the inclusion of diverse suppliers when evaluating
order opportunities, as well as increasing their overall market
share in local communities, while continuing to provide
guidance on establishing more robust and coherent diversity
and inclusion policies. As a result, Baker Hughes experienced
a growth of 181% in direct spend with diverse and small
businesses (from $83 million in 2021 to $233 million in 2022).

Diversity, Equity and Inclusion Lighthouses 2024 26

 Culture Amp
Internal and external effort, Fair performance review programme,
Black, indigenous and people of colour (BIPOC)

Highlighted principle pay processes in a company. Using this software, managers are
asked to reflect on how an employee has lived their values,
Debiasing performance review processes to ensure fairness how they have demonstrated their skills and grown in their
and equal treatment for all employees. capability, and what impact they have had on their team
and the organization. After a manager has submitted a draft
review and rating of an employee, each draft is audited to
Initiative context and objective identify potential biases.

In line with its business mandate, Culture Amp is committed Based on the results of the first audit, the designated DEI
to deploying its technology to promote fair and unbiased talent team works with business partners to investigate issues, and
reviews. To propel black, indigenous and people of colour coordinates calibration discussions with managers that have
(BIPOC) employees into mid-level and senior leadership been flagged for requiring potential remediation or a deeper
positions, Culture Amp implemented a software that ensures examination of their employee ratings. Once flagged ratings
talent processes are providing equitable opportunities, while have been evaluated, the auditing team adjusts the results to
developing complementary leadership programmes that are ensure a more equitable process. To complement the findings
matched to employees’ skills and are actively addressing from these audits and employees’ experience surveys,
representational gaps in leadership. This impact-focused Culture Amp developed a leadership programme of which
performance rating system ensures Culture Amp can audit 35% of attendees were BIPOC. Furthermore, senior leaders
performance reviews and detect measurable, systematic bias support the development plans of junior employees into more
in managers’ evaluations, which increased representation of senior positions, ensuring that gaps in representation are filled
BIPOC employees in senior leadership positions from 15% early in the development of employees.
to more than 28% in the past three years.
As a result of these efforts, Culture Amp has made progress
at every level, except at the vice-president and C-suite level for
Highlight in practice improved BIPOC representation, and there is no systematic bias
detected in the performance process for seven key demographic
Culture Amp’s comprehensive approach to debiasing groups after the audits have taken place. Since the inception
succession and promotions in each business function highlights of the programme, retention has increased by 7% from 2022
the value of leveraging technological tools to proactively measure to 2023 and employee surveys show increasingly positive
and audit employee experience, performance, progression and perceptions of fair and unbiased development opportunities.

Diversity, Equity and Inclusion Lighthouses 2024 27

 Hitachi
Internal effort, Underrepresented populations in leadership,
Gender, cultural and generational equity

Highlighted principle C-suite development. Selected candidates go through a long-

term development programme, including on-the-job training,
Using an intersectional angle to identify the next generation such as challenging assignments, and off-the-job training,
of C-suite leaders. such as external training and coaching.

Hitachi also runs the “Future 50” to select and train high-
Initiative context and objective potential talents, offering them multiple trainings and mentoring
with senior management to develop competencies needed
Hitachi launched an initiative to accelerate gender parity at the for the company’s future leadership, and given them the
leadership level globally and improve representation across opportunity to engage through lectures and discussion
cultural backgrounds and age groups. The initiative includes sessions with members of the nominating committee in charge
proactive measures to create a pool of diverse future leaders of selecting CEO successors. They also have the chance to
aiming to further intersectional diversity targets. By 2030, engage through lectures and discussion sessions with the
Hitachi aims to achieve a representation of 30% non-Japanese members of the Nominating Committee, in charge of selecting
and 30% women among its executives and corporate officers. the CEO successors, and which includes diverse pool of
Independent Directors and the Chairman of Hitachi, Ltd.

Highlight in practice These initiatives enable over 500 talents per year to
participate in senior leadership development programmes
Hitachi’s global leadership development initiative is designed across different levels in the entire business globally,
to identify and develop future leaders from a wider and promoting the development of a multicultural, gender-
more diverse pool of talents. To identify candidates, a talent balanced and cross-generational leadership pipeline. Hitachi
committee was established consisting of the group CEO, tracks initiative outcomes rigorously and has observed that
CHRO and CDEIO, together with the executive leadership in 2022 out of 541 candidates who have been selected as
and business leaders. The committee receives a list of “Global Talent +”, 32.2% were non-Japanese, and 22.6%
candidates to discuss and evaluate performance and identify were women. The goal is to continue scaling the initiative and
the names to be included in the “Global Talents +” list for leverage the power of diversity to accelerate Hitachi’s growth.

Diversity, Equity and Inclusion Lighthouses 2024 28

 Nagarro
Internal and external effort, Autism inclusion programme, Individuals
with autism and other neurodivergent conditions

Highlighted principle Highlight in practice

Highly personalized upskilling programme to create a new The initiative takes a thorough, individualized approach to
talent pool of persons on the autism spectrum. train neurodivergent individuals, boosting their work skills.
The training syllabus has been curated as per the unique
learning styles of neurodivergent individuals. Additionally,
Initiative context and objective dedicated job coaches are appointed to provide personalized
support to every participant throughout their training and
In 2016, Nagarro and Specialsterne partnered to launch post-placement journey. This includes coaching, mentoring
TestingPro in Austria. This neuro-inclusion programme aims and accommodations tailored to their specific needs.
to empower individuals on the autism spectrum by equipping The programme’s partners help participants find jobs by
them with the skills to become professional software testers connecting them with organizations, arranging interviews and
or AI and data assistants and helps them find suitable job preparing them for job placements.
opportunities. Regular job coaching and mentorship is also
provided once the participant secures employment, allowing Nagarro collaborates with various organizations, including
for a smooth integration into the organization. Beyond those focusing on disabilities, to create job opportunities
personal growth, the programme aspires to grant financial and a broad network. The programme continues to support
independence to neurodivergent individuals and make them the participants after they find employment by assisting
valuable contributors to the global economy. To date, Nagarro with integration, additional training and mentoring for career
has trained 87 neurodivergent individuals. The programme growth. The placement rate is over 75%, which proves the
expanded from Austria to India in 2023 through collaboration quality and practical orientation of this programme, especially
with local organizations, including Atypical Advantage, Action in the software testing market. The programme is evaluated
for Autism and nasscom. annually and makes necessary improvements based on
participant, employer and stakeholder feedback. Continuous
evaluation ensures the programme’s adaptability to the needs
of neurodivergent individuals and changing market dynamics.

Diversity, Equity and Inclusion Lighthouses 2024 29

 SAP
Internal and external effort, Autism at Work programme, Neurodiversity

Highlighted principle strategy, which follows participants through the entire

employee experience. Internally, SAP introduced supportive
Combining both internal and external efforts to shape more policies and inclusive benefits available to all employees,
inclusive societies for persons on the autistic spectrum, including self-development and stress management
across all age groups and levels. assistance, various counselling options, global mindfulness
practices, therapy coverage for employees and their
dependents, and flexible work schedules. Inclusive offerings
Initiative context and objective benefit neurodivergent colleagues as well as neurotypical
employees. SAP also designed autism-inclusive hiring
Over the last decade, SAP has developed the Autism at Work practices and partnered with local experts to offer services
programme. The initiative aims to leverage the unique abilities such as sourcing and assessment, candidate readiness,
and perspectives of people on the autism spectrum to foster employee coaching and management training. Additionally,
innovation, which is at the core of its business. The scale of office infrastructure, meeting practices, work hours,
the programme extends beyond the hiring stage to support communications styles, trainings, etc. are adaptable to
the development and long-term careers of participants who accommodate for the needs of individuals on the spectrum.
are autistic. SAP has over 235 colleagues on the autistic
spectrum (as of Q3 2023), spanning across 16 countries. Many SAP employees have voluntarily shared their autism
In the context of approximately 1% (~75 million) of the global spectrum diagnoses, attributing their comfort in disclosing to
population falling within the autism spectrum, SAP is helping SAP’s proactive measures and witnessing the organization’s
promote financial independence and global integration for this strong support for neurodivergent staff. The rise in self-
group of individuals. disclosure serves to significantly diminish perceived stigma
and enhances psychological well-being not only within the
workplace but also in broader contexts. To enable knowledge
Highlight in practice sharing across industries, SAP also runs several awareness
initiatives aimed at sharing best practices with external
To design an effective workplace programme for individuals organizations. These initiatives include the SAP Autism
on the autism spectrum, SAP implemented a multifaceted Inclusion Pledge, which has 125 companies as signatories.

Diversity, Equity and Inclusion Lighthouses 2024 30

 Tata Consultancy Services
Internal effort, Leadership programme for women, Gender equity

Highlighted principle comprehensive programme structure designed to include

topics that stress core business competencies and personal
A highly personalized leadership programme for women that effectiveness, helping in capability building and preparing
continues engagement and tracks progress after completion. leaders to analyse critically, articulate strategically, think
holistically and lead with confidence.

Initiative context and objective The programme delivery is immersive, along with experiential
learning with access to thought leaders, influencers and
In 2011, Tata Consultancy Services (TCS) designed a leadership game changers within TCS and pioneers from the industry.
programme for high-potential women leaders focused on Participants also receive project-specific mentoring, during which
building capability-business competency and capacity-personal an assigned senior leader mentors the group of participants in
effectiveness. With investment and sponsorship starting with the an action learning project, working to further their competencies.
CEO, the programme reinforces TCS’s serious commitment to The third stage includes mentoring and peer-coaching sessions
creating and sustaining a robust pipeline of women leaders. post-work on reflections from sessions.

Following these phases, the women who complete the

Highlight in practice programme are surveyed for feedback, join an alumni network
that continues to shape the programme and their progression is
TCS has observed a 60%+ increase in senior women tracked long after their participation. The mapping of personal
executives over the last five years. The programme aspirations with relevant skills, organizational objectives and
demonstrates the impact of a holistic and tailored learning a wide variety of learning formats for leadership development
journey for participants, as each stage of the leadership showcases the comprehensive design of the programme and
development programme offers an intensive development its bespoke characteristics. While being fully integrated into the
opportunity. In the first stage, participants are asked to business mandate of TCS , the leadership programme enabled
complete a screening and psychometrics test, a transparent the retention of women within the company or their development
process of competency assessment and building, followed to new careers, thereby positively impacting the broader societal
by selection. The second stage involves a 10-day, full-time ecosystem in which TCS operates.

Diversity, Equity and Inclusion Lighthouses 2024 31

Appendix
The DEI Lighthouse Programme 2024 DEI Lighthouse Programme expert panel:

– Dominic Arnall is Chief Executive Officer of

The Centre for the New Economy and Society Open for Business, a coalition of leading global
annually runs the DEI Lighthouse Programme to companies dedicated to LGBTQI+ inclusion.
identify and showcase proven methodologies and With extensive experience in the civil society
practical insights from peer organizations that can sector, he previously chaired MindOut, an
help others accelerate their DEI efforts. Lighthouses organization advocating for LGBTQI+ mental
come from around the world, from across industries health, as well as Just Like Us, a LGBTQI+
and span a wide range of diversity, equity and/or charity for young people.
inclusion efforts. The focus of Lighthouse cases
encompasses employees, suppliers, customers – Porter Braswell is the Founder and Chief
and/or the broader community, and can address Executive officer of 2045 Studio, an exclusive
any underrepresented group (e.g. gender, race/ network for influential professionals of colour.
ethnicity, LGBTQI+ people with disabilities or He is also Co-Founder and Executive Chairman
intersectional identities). of Jopwell, an HR tech platform that helps
diverse students and professionals unlock
opportunities for career advancement.
Submission and selection process
– Liz Broderick is a former independent expert
and special rapporteur on discrimination
To become a Lighthouse, companies progress against women and girls at the United Nations
through three stages: Human Rights Council. She is also the founder
and principal of an Australia-based specialist
1. Written submission: Organizations submit consultancy to improve gender equality,
a written description of their initiative, sharing diversity and inclusion, and founder of the
information on their overall DEI context and Champions of Change Coalition, a globally
initiative-specific actions, impact and findings. recognized, innovative strategy for achieving
gender equality.
2. Follow-up call: Organizations whose
submissions fulfil the minimum requirements – Caroline Casey is the founder, businesswoman
join a call with the Forum’s DEI team for and activist behind The Valuable 500, the
a consultation on their case. As minimum world’s largest CEO collective and business
requirements, the World Economic Forum move for disability inclusion. In addition to being
asks submissions to be complete and address president of the IAPB, she also sits on several
the four dimensions of impact laid out in the diversity and inclusion boards, including L’Oréal,
selection criteria. Sanofi and Sky.

3. Expert panel selection: The Forum DEI team – Sarah Kate Ellis is President and Chief
synthesizes and anonymizes all cases, which Executive Officer of GLAAD, a US-based
are reviewed by an independent expert panel. nongovernmental organization promoting
Each panellist individually scores submissions LGBTQI+ acceptance and inclusion. She is
against criteria in a pre-established evaluation also a public figure who consults with global
rubric and then jointly determines which cases business and advocates for the LGBTQI+
become a Lighthouse. community across mainstream and social
media. She is an expert in media and advocacy.
Independent expert panel
– Luana Génot is President and Executive
The independent panel of DEI experts was appointed Director of Identities Institute of Brazil, an
by the Forum’s Centre for the New Economy and organization working throughout Brazil to support
Society. The six DEI experts are unaffiliated with companies, government agencies and third-
participating organizations and brought a diverse sector organizations with anti-racist education
range of expertise and perspectives. and affirmative action on diversity, equity and
inclusion. She is also part of several advisory
boards including the Brazil Presidency advisory
board and the city council in Rio de Janeiro.

Diversity, Equity and Inclusion Lighthouses 2024 32

Initiative evaluation rubric causes likely include a combination of internal
barriers (such as organizational policies) and
The initiative evaluation rubric included four equally external barriers (such as cultural beliefs).
weighted criteria and guiding scores. The four
criteria were: – Get input from the target population, initially and
throughout: It is critical that DEI initiatives are
shaped by the voices of the target population
1. Significance: The magnitude of impact, without burdening those individuals with
including: change against a baseline; number the work. At the start of the process, solicit
of people affected relative to the size of the input through surveys, user interviews and
target population and/or the organization’s size; focus groups. During the design and piloting
and degree of transformative impact on the processes, continue to seek input from the
target group(s). target population to test and refine the solution.

2. Quantifiability: The use of metrics to assess – Prioritize and sequence problem areas: Many
impact, including: a clear definition of the areas for improvement may be identified, but not
metrics; regularity of tracking; and use of everything can be effectively addressed at once.
metrics towards driving accountability. Prioritize and sequence opportunity areas – for
example, by considering impact versus feasibility
3. Scalability: The future impact potential within or and urgency versus importance. Maximize
beyond the organization, including: the set-up of potential impact by considering your organization’s
the initiative; future targets; definition of the path core competencies and unique positioning.
forward; and whether the initiative has already
reached its full scale in terms of its impact. 2. Meaningful definition of success

4. Sustainability: The potential for the initiative Setting clear, measurable goals and effectively
to drive long-term impact in the organization, communicating the rationale behind the DEI effort
including the length of time the initiative has will guide the initiative and help galvanize support
been running, and the structure and governance for change.
of the initiative.
– Set clear and quantifiable aspirations (what
Common success factors across and by when): After prioritizing an opportunity
area, define success by setting measurable
DEI Lighthouse initiatives near- and long-term goals. To understand what
is feasible, engage a cross-functional, diverse
The DEI Lighthouse Programme identified five team well versed in the strengths and needs
common success factors across the initiatives that of the organization. This process should be
yielded the most significant, scalable, quantifiable informed by the fact base developed through
and sustained impact for underrepresented groups. root-cause analysis as described under the first
While these is no one-size-fits-all solution, these success factor (i.e. nuanced understanding of
elements can help set up an organization’s DEI root causes).
initiatives for success.
– Articulate a clear case for change that moves
Five common success factors across DEI employees to action: The case for change
Lighthouse Initiatives sets out why the organization is focusing on
the effort and connects the rationale to the
1. Nuanced understanding of root cases company’s values, mission, business outcomes
and “what’s in it for me” at each level of the
It is important to start by identifying the company’s organization. This helps employees understand
DEI-related challenges and the associated root what to expect and serves as a call to action.
causes, to inform opportunity prioritization, goal
setting and solution design. 3. Accountable and invested business leaders

– Understand the problem with a deep fact Deep commitment from executive management
base: Start with a broad assessment of the sets initiatives up for success by signalling
organization to identify potential problem areas importance and facilitating adequate resourcing.
and any geographic- or segment-specific
nuances. For example, an organization may – Set initiative as a core business priority: Formally
begin with a company-wide survey on employee incorporating DEI goals into quarterly and annual
experience and inclusion and an analysis of its planning allows for securing the resources, time
talent pipeline. and attention needed to drive change.

– Identify the root causes: Assess potential – Hold senior leaders accountable for outcomes,
problem areas through deeper data analysis and not just inputs or activities: Holding senior
employee focus groups to identify what causes business leaders accountable by tying
the issue and what changes are required. Root outcomes to performance incentives facilitates

Diversity, Equity and Inclusion Lighthouses 2024 33

 continued focus on the initiative’s effectiveness, enduring change, the solution needs to address
starting from the top of the organization. relevant elements of the organization’s systems,
processes and ways of working. Sustained
– Model and lead desired change, starting with change also requires a shift in mindset and
the CEO and senior leaders: Senior leadership behaviour for all employees (e.g. addressing
can, for example, serve as the public face of unconscious bias).
the DEI initiative, lead the operation, advocate
for the initiative’s needs and/or adopt desired – Equip and encourage employees to contribute:
behaviours and ways of working. This signals As part of the process of designing a solution,
importance to the rest of the organization and companies not only need to equip employees
encourages other employees to follow suit. to make the desired change (e.g. through
Leaders tend to hold the most social capital in upskilling) but also to encourage them to do
an organization and can use that to advance so by setting new expectations, measuring
DEI initiatives. progress and holding them accountable through
performance management.
– Ensure resources for longevity in the budget,
expertise and timeline: Like any other core 5. Rigorous tracking and course correction
business activity, DEI initiatives need to be
resourced based on the capabilities required to Measuring progress against initiative goals allows
effectively execute on the plan. This may require leaders to evaluate the solution’s effectiveness
a cross-functional team (not limited to the and supports the most impactful use of company
HR function) and access to experts, possibly resources. Insights from tracking may surface
through external partnerships. opportunities to adjust or course-correct the
initiative to increase impact.
4. Solution designed for context
– Define KPIs and implement rigorous tracking
Driving effective, sustainable impact requires process: Designing a measurement strategy
solutions that address the root causes of the involves picking the right metrics and milestones
problem and are integrated into day-to-day work. to track at regular intervals (e.g. before, during
and after a programme phase). Scorecards
– Develop solutions that address the root causes, should track progress towards a high-level
with scalability in mind: To effectively address aspiration (e.g. the percentage of women in
the most critical root causes, the initiative’s leadership roles), the resolution of root causes
solutions will likely need to be multifaceted. As (e.g. reducing gender bias seen through an
an illustrative example, a coaching programme increase in the promotion rate of women) and
alone will not solve a gender parity problem. The granular initiative actions (e.g. the percentage
solution set will also need to address systemic of women with an assigned mentor and the
bias in hiring, performance management and frequency and quality of those interactions).
other policies that disadvantage the target Data collected should include qualitative
population. Each solution should be designed feedback from target populations.
with scalability in mind to ensure that potential
impact will not be hindered by barriers such as – Use data and feedback to course-correct as
cost or operational complexity. needed: With the right metrics and milestones
in place, adjustments to the solution can be
– Integrate changes into key processes and ways implemented sooner rather than later to ensure the
of working, so impact is sustained: To drive solution is effectively addressing the root causes.

Diversity, Equity and Inclusion Lighthouses 2024 34

Contributors
The World Economic Forum would like to thank the consideration in the Lighthouse selection process
members of the Global Parity Consortium as well and contributed through community discussions.
as the members of the broader core community We are also very grateful to the independent panel
of the Centre for the New Economy and Society of DEI experts who evaluated the submissions and
for their ongoing commitment and contributions to selected the second cohort of DEI Lighthouses.
addressing the issues presented in this report.
We would further like to thank our colleagues in the
We would like to thank in particular all community Centre for the New Economy and Society for their
members who submitted DEI initiatives for helpful suggestions and comments.

Fernando Alonso Pérez-Chao Silja Baller

Lead, Diversity, Equity and Inclusion, Head, Diversity, Equity and Inclusion,
Centre for the New Economy and Society Centre for the New Economy and Society

Elisabeth Pipic Saadia Zahidi

Specialist, Diversity, Equity and Inclusion, Managing Director, World Economic Forum and
Centre for the New Economy and Society Head, Centre for the New Economy and Society

Acknowledgements

Members of the Global Parity H&H Group PLC

Consortium H&M Hennes & Mauritz

Apollo Hospitals HEINEKEN

Baker Hughes Energy Services Hitachi

Banco del Pichincha HCL Technologies

Bloomberg Hewlett Packard Enterprise

Boston Consulting Group Huawei Technologies

Bridgewater Associates HSBC Holdings

Cisco Systems Hong Kong Exchanges

and Clearing Limited (HKEX)
Coca-Cola HBC
Ingka Group (IKEA)
Culture Amp
IDEO
Dell Technologies
Liberty Global
Dentsu
Limak Holding
Essbio
L’Oreal
Estee Lauder Companies
Mahindra Group
e&
Majid al Futtaim
EY
Manpower Group

Diversity, Equity and Inclusion Lighthouses 2024 35

McKinsey & Company SAP

Merck Schneider Electric

Mott MacDonald Group Shiseido

Nagarro Siemens

Nestle Signify

Nokia Corporation SNC Lavalin

Novozymes Suade Labs

PepsiCo Stanley Black & Decker

PwC Tata Consultancy Services

Randstad Tata Steel

Regeneron Pharmaceuticals Uber Technologies

Royal DSM Vanguard

Sanofi Verizon

Salesforce Walmart

Production

Laurence Denmark
Creative Director, Studio Miko

Rose Chilvers
Designer, Studio Miko

Mark Schulman
Editor, World Economic Forum

Diversity, Equity and Inclusion Lighthouses 2024 36

 Endnotes
1. World Economic Forum, “Chief Economists Outlook”, September 2023.
2. International Monetary Fund, “World Economic Outlook”, October 2023
3. World Economic Forum, “Global Gender Gap Report 2023”, June 2023.
4. Harvard Business Review, “Why Diverse Teams Are Smarter”, November 2016.
5. Harvard Business Review, “How Diversity Can Drive Innovation”, December 2013.
6. Harvard Business Review, “How Investing in DEI Helps Companies Become More Adaptable”, May 2023.
7. LinkedIn, “38 Ways to Make Real Progress on Diversity, Equity, and Inclusion”, August 2022.
8. Bloomberg, “Corporate America Promised to Hire a Lot More People of Color. It Actually Did”, September 2023.
9. World Economic Forum, “The Future of Jobs Report 2023”, April 2023.
10. Russell Reynolds, “Positioning Your Chief Diversity Officer for Top Performance”, 2022.
11. Ibid.
12. World Economic Forum, “Global Gender Gap Report 2023”, June 2023.
13. World Bank, “Diagnóstico de Inclusión Financiera”, June 2020.
14. World Bank, “World Bank Global Findex Database”, 2021.
15. This is calculated by comparing the total amount of outstanding loans to women and the total amount
of outstanding loans to men.
16. CNB, Corresponsal no bancario, non-financial commercial establishments that offer banking services in places
where the bank does not have operations.
17. Services including knowledge transfer opportunities and management skills programmes for women leading MSMEs.
18. In 2019, the financial gap between men and women was $417 million. The objective it set was to close it to
$317 million by 2024.
19. Services including knowledge transfer opportunities and management skills programmes for women leading MSMEs.
20. World Economic Forum, “Global Gender Gap Report 2023”, June 2023.
21. Deloitte, “Women raising the bar”, 2023.
22. World Economic Forum, “Global Gender Gap Report 2023”, July 2023.
23. PwC Hong Kong and the Women’s Foundation, “Gender Diversity in the Hong Kong financial services sector:
moving from conversation to action”, 2018.
24. World Economic Forum, “Global Gender Gap Report”, 2023.
25. World Economic Forum, “Global Gender Gap Report 2023”, 2023.
26. International Labour Organization, “The Unpaid Care Work and the Labour Market”, 2019.
27. National Library of Medicine, “Sense of Belonging, Meaningful Daily Life Participation, and Well-Being:
Integrated Investigation”, March 2023.
28. EY, “How can you illuminate the power of belonging? Belonging Berometer”, October 2022.

Diversity, Equity and Inclusion Lighthouses 2024 37

The World Economic Forum,
committed to improving
the state of the world, is the
International Organization for
Public-Private Cooperation.

The Forum engages the

foremost political, business
and other leaders of society
to shape global, regional
and industry agendas.

World Economic Forum

91–93 route de la Capite
CH-1223 Cologny/Geneva
Switzerland
Tel.: +41 (0) 22 869 1212
Fax: +41 (0) 22 786 2744
[email protected]
www.weforum.org