Case Study: ‘The ThistlePraxis Effect’
A financial service firm was looking to empower professional women primarily and provide a support network for women in the banking sector and financial services industry across Sub Saharan Africa.
ThistlePraxis was engaged to develop a new strategy and implementation framework to achieve the goals and objectives of the project.
ThistlePraxis Consulting implemented the project by ensuring:
- Compliance with all relevant international conventions, agreements, guides, standards, principles and other relevant regulations
- Business Leaders and Executives who are well-informed on emerging gender workplace trends, thoughts and ideas on the future of talent and alignment with sustainable development are engaged;
- Overhaul of the company’s current Strategy which entailed aligning initiatives with the organization’s operations & harnessing external networks for more tangible impact;
- Advisory on Products, Services and Operational Strategies that influence bottom line of the bank through attraction and retention of more female customers
- Development of unique gender-sensitive products and services for clear-cut return on investment (ROI);
- Sustenance of productivity, growth and performance of both network members and the organization as an entity;
ThistlePraxis came up with a Sustainability & CSR Strategy, framework and policy that better fulfilled the aims of the project without disrupting the initial workings of the initiative.
A holistic strategy and framework for tangible and scalable impact was therefore implemented thus:
Gap analysis of past and current initiatives in developing new strategic framework stating revised objectives, governance considerations, risks and opportunities, drivers and key performance indicators (KPIs) for member groups etc.
Track, Review, Report, Revise:
After the roll out of new strategy and framework, emphasis was made on tracking impact, reviewing elements of the framework and reporting to all stakeholders (Bank, CBN, Customers, Labour Unions/Networks, Professional Bodies etc.)
The effort vastly improved the company’s planning and execution functions of its initiative and recorded the following successes over certain periods:
- Now rated amongst Top 5 banks in Sustainability, CSR & NSBP Compliance by CBN
- Completion, periodic reporting on NSBP to CBN without external support
- Attracted private sector funding from leading organisations across all sectors