Sustainability in Action: CaixaBank's Commitment to Gender Equality
Start Reading
1. Company at a Glance
In this case example, we explore how CaixaBank tackled gender equality challenges in a male dominated industry with ambitious goals and implemented targeted initiatives to drive meaningful change. Through its Wengage program, CaixaBank has strengthened leadership representation, embedded inclusive policies, and cultivated a culture that supports workplace equity. By securing leadership commitment, leveraging data-driven insights, and fostering external collaborations, the bank reinforced its commitment to social responsibility and drove innovation and business performance.
Financial Services
Industry
2011
Founded
Spain
Headquarter
Over 45,000
Global Workforce
Over 20 countries
Global Presence
2. The Challenge
Embedding Gender Equality in Leadership and Culture
Despite progress, CaixaBank identified persistent challenges in achieving gender balance at senior levels. In 2016, the company conducted eight focus groups with female managers to diagnose key barriers, which revealed:
- Limited visibility for women in leadership.
- Unconscious biases affecting recruitment and promotion decisions.
- The need for structured development programs to equip women for senior roles.
Moreover, investors showed increasing interest in companies committed to gender equality, non-discrimination and diversity, while societal trends reinforced the importance of addressing gender equality.
Considering both internal assessments and external market dynamics, CaixaBank set gender equality goals that have been adapted based on evolving needs and progress since the inception of this initiative. Having successfully reached the previous target of 43% women in leadership positions by 2024, the company is now working toward a new goal of achieving 45% representation in managerial roles by 2027.
3. The Action
How CaixaBank Took a Holistic Approach to Gender Diversity
To advance gender equality, CaixaBank launched the Wengage Program in 2018, built on meritocracy and equal opportunity. Key initiatives include:
Strategic Programs for Leadership Development
- Mentoring & Networking: Over 900 women have participated in mentoring programs, strengthening the talent pipeline for executive roles.
- Women’s Leadership Visibility: Networking sessions create real and relatable role models, inspiring more women to apply for executive positions.
- Talent Acceleration Initiatives: Pre-management programs, talent breakfasts, and leadership workshops provide structured career advancement support.
Policy & Structural Changes for Inclusion
- Development of a fair pay policy and plan: The company implemented a transparent pay policy and consolidated an organization-wide equality plan. CaixaBank conducts an annual analysis to examine any total pay gaps exceeding 15% between genders and, based on this assessment implement corrective measures to address identified disparities.
- Work-Life Balance Measures: Flexible work arrangements and family-supportive policies enhance retention and career progression for women.
- Inclusive Recruitment & Promotion: Gender diversity is key in management promotion processes, in the talent committee and in their pre-management programmes.
Culture and Awareness Initiatives for Engagement
- Development and dissemination of an egalitarian communication guide to promote inclusive language, a document aimed at breaking stereotypes and promoting egalitarian and non discriminatory behaviors in the professional environment.
- Creation of a Network of Equality Agents to raise awareness about biases and stereotypes, promoting the Wengage program and all related policies and initiatives across the entity's territorial divisions and companies of the group.
- Development of the GenterTEST, an educational tool to ensure external communications and branding are free from gender stereotypes.
External Engagement and Public Advocacy
CaixaBank actively participates in national initiatives to drive gender equality beyond its organization.
- Support for Women Entrepreneurs: CaixaBank’s Woman in Business Award (8 editions) and the A Award (4 editions) amplify the visibility of female business leaders.
- STEM Education: Through the STEAM Alliance for Female Talent (led by the Ministry of Education) and the WONNOW Awards Delivered in partnership with Microsoft, they recognize and encourage women pursuing STEM careers (over 1,000 participants in the last edition).
- As a member of Companies for a Society Free of Gender Violence (led by the Ministry of Equality), the bank supports efforts to combat gender-based violence and create safer workplaces. Additionally, the bank engages in programs that facilitate the labor inclusion of women at risk of exclusion, recognizing that economic inclusion is key to long-term gender equality.
4. Overcoming Barriers
Like many organizations, CaixaBank encountered resistance when implementing initiatives focused on gender equality. To navigate this, the company put great focus on the mindset shift needed among employees and leadership.
Engaged Senior Leadership
By engaging in open dialogue and a dedicated Diversity Committee, backed by Board-level commitment.
Used Data to Drive Change:
Ongoing dialogues and metrics allowed CaixaBank to measure progress and adjust strategies based on employee feedback.
Connected Gender Equality to Business Performance:
Demonstrating the ROI of diversity efforts helped gain buy-in across all levels of the organization.
5. Impacts & Results
Increased Female Leadership Representation:
Women now hold 43% of management positions, up from 35,7% in 2015. CaixaBank defines management positions as all leadership roles starting from large branch assistant manager and above.
Stronger Talent Pipeline & Employee Engagement:
The company experienced an 8-point increase in employee survey results regarding diversity and inclusion since the previous survey in 2022, achieving 81% positive responses.
External Recognition and Global Leadership:
Recognized as a leader in the Bloomberg Gender Equality Index in 2021. Achieved 3rd place in the 2023 ranking.
Graph of Evolution of Women in Management Position
6. Key Lessons Learned
Increase visibility for women in management roles to provide real examples that can inspire others through actions such as networking sessions and internal communication
Ensure an enabling environment for women to thrive in leadership by addressing structural barriers, providing equitable opportunities, and fostering inclusive cultures that support their growth and advancement.
Develop action plans to increase the number of women in senior management and foster an inclusive culture through training and leadership development.
Anticipate future challenges, particularly the expansion of the technology sector, by promoting STEM vocations among young women to ensure they benefit from the digital economy. CaixaBank supports these efforts through government initiatives and recognitions such as those mentioned above.
“We know that to address the challenges that we face as an organization in the coming years, it will be key to have a workforce made up of diverse, empowered and committed people who, through equal opportunities and meritocracy, develop their full potential and talent. Therefore, diversity and inclusion continue to be a strategic priority for the Group”
Anna Quiros, Director of Culture & Selection at CaixaBank
7. Resources
CaixaBank is a participant of the UN Global Compact since 2012, including:
Signatory of the Women’s Empowerment Principles since 2014
Target Gender Equality Accelerator Participant 2020
Inspired to take action?
Recommended UN Global Compact resources available to support your journey:
Disclaimer: This case example is intended strictly for learning purposes and does not constitute an endorsement of the individual companies by the UN Global Compact.
