Diversity and Inclusion
Diversity is a core value that we strongly uphold. At Glenn Hill, we are dedicated to cultivating a sense of community among our employees and striving to create an inclusive work environment. Promoting inclusivity is a responsibility that every employee at Glenn Hill embraces wholeheartedly. Our teams recognize that diversity and inclusion serve as distinguishing factors for our success.
Embracing diversity fosters resilience and creativity within our organization, ultimately enhancing our ability to serve investors, portfolio companies, and the communities we operate in. By valuing diverse perspectives and experiences, we can adapt and innovate more effectively, ensuring our continued success in meeting the needs of all stakeholders.
The Inclusion and Diversity Committee at Glenn Hill is comprised of Senior Partners who spearhead our organization's efforts to advance inclusion. We have recently appointed a dedicated senior leader to oversee our internal inclusion and diversity initiatives and provide guidance to our portfolio companies in their own journey towards greater inclusivity. At Glenn Hill, we are committed to creating an environment where all individuals, regardless of their diverse backgrounds, feel respected, recognized, valued, and connected within our teams.
Since our establishment, we have expanded the scope and reach of our research, strategies, and client base on a global scale. Throughout this journey, our fundamental belief in the power of in-depth analysis, long-term investment perspectives, and quantitative rigor to deliver favorable long-term investment results for our clients remains unwavering. Recognizing the proliferation of high-priced investment products in the market, our founders were motivated by the belief that clients deserved a new breed of investment firm.
Glenn Hill was established with a core objective of prioritizing clients' interests by offering a targeted range of investment strategies aimed at preserving and growing their investment capital over the long run, all while maintaining reasonable and transparent fees. These principles continue to serve as the guiding pillars of our firm, even after more than 14 years of operation.
Our objective is to ensure fair and equitable practices in the hiring, development, promotion, and treatment of all our employees. We strive to create a level playing field for both our team members and the clients we serve, continuously working towards this goal. In addition, Glenn Hill actively supports non-profit organizations that align with our commitment to equality and inclusivity.
Institutional investors
The institutional investors listed below acknowledge the presence of systemic racism and the detrimental impact it has on Black, Indigenous, and Racialized communities worldwide.
Promoting diversity and inclusion
Advocating for multiculturalism and inclusion is not only a matter of ethical responsibility but also brings significant benefits to both society and business. Extensive research indicates that companies with higher levels of diversity and inclusion tend to experience improved corporate profitability, growth, and employee engagement. By incorporating diversity and inclusion into their decision-making processes, businesses create opportunities for underrepresented groups, thereby enhancing their reputation, strengthening governance practices, and reducing risks.
Take the Lead
Consequently, the signatories of this letter call upon publicly traded companies to assume a leadership role in global efforts to combat systemic inequities by actively advancing diversity and inclusion initiatives and bolstering transparency and accountability. Furthermore, we encourage our respective institutions to actively promote diversity and foster the inclusion of underrepresented individuals within our organizations.
Our expectations of companies are that they endeavour to:
Enhance the annual public disclosure of diversity data, with a specific focus on the representation of Black, Indigenous, and People of Color who self-identify as such, across boards, executive teams, and all levels of the organization.
Implement guidelines, establish deadlines, and adopt policies to increase diversity in senior management and on boards, prioritizing the representation of underrepresented groups, with the ultimate aim of achieving proportional racial and ethnic representation.
Embrace inclusive hiring practices that actively consider a diverse range of candidates and proactively seek out underrepresented voices to inform diversity and inclusion initiatives and address associated challenges. This approach will help broaden the organization's efforts and make them more transparent in tackling barriers to diversity and inclusion.
We commit to continuously evaluate and refine our plan as we gain expertise, and we will provide updates on the actions we are taking to promote diversity and inclusion. We warmly invite the business community to join us, sharing knowledge and experiences to collectively strengthen our intentional efforts in creating a more inclusive and anti-racist financial and industry landscape.
A - undersigned institutional investors
We, the institutional investors endorsing this statement, recognize the presence of systemic racism and its impact on Black, Indigenous, and People of Color communities globally.
Furthermore, we acknowledge that there are various forms of discrimination and inequities based on factors such as socioeconomic status, gender, sexual orientation, age, and disability. It is our collective responsibility to work towards eliminating these long-standing injustices in both our economy and society.
Through deliberate actions to foster diversity and inclusion within our portfolios and organizations, institutional investors can contribute to addressing these inequities.
B) - Undersigned Institutional Investors
Promoting diversity and inclusion is not only a matter of ethical responsibility but also holds significant advantages for both businesses and society. Extensive research shows a positive correlation between higher levels of diversity and inclusion and improved financial performance, growth, and employee engagement within corporations.
Furthermore, incorporating diversity and inclusion into business decisions creates opportunities for underrepresented groups, while also enhancing reputation, bolstering governance, and mitigating risk.
In light of these findings, the undersigned investors urge publicly traded companies to take a proactive role in international initiatives aimed at addressing systemic inequities. We encourage these companies to advance diversity and inclusion initiatives, promote transparency, and uphold accountability.
As investors, we will endeavour to:
We commit to engaging with investee companies to convey our expectations for improved performance and disclosure concerning diversity and inclusion practices. This includes advocating for the advancement of underrepresented groups in boardrooms, executive teams, and across the entire organization.
Additionally, we will integrate diversity and inclusion considerations into our investment processes. We will initiate this by monitoring and evaluating the performance of public companies in these areas, regularly reviewing and updating our stewardship priorities and proxy voting guidelines as needed, and engaging with external managers to discuss their strategies for promoting diversity and inclusion.
Furthermore, we will enhance our own organizations' diversity and inclusion policies to ensure that we lead by example in fostering a diverse and inclusive environment.
Our People
We are committed to regularly reviewing and updating our strategy as we gain experience, and we will provide transparent reporting on our initiatives to promote diversity and inclusion. We extend an open invitation to fellow investors to join us in our genuine and united efforts to create a business and investment environment that is more inclusive and actively opposes racism.
At Glenn Hill, we recognize that diverse perspectives and independent thinking have played a pivotal role in our success as a company. We prioritize diversity in our hiring and talent management strategies, as well as in our investment philosophy. Our aim is to attract the most qualified candidates from a wide range of backgrounds and support them in achieving their professional aspirations. We view diversity in its broadest sense, encompassing factors such as gender, social background, race, sexual orientation, age, disability, learning style, and religion, as essential for the Company to achieve its long-term objectives.
Glenn Hill is fully committed to fostering an environment of respect and understanding among our employees and within the broader industry by valuing and encouraging individuality. We actively support programs like Investment 20/20 and provide traineeships and apprenticeships to recent graduates and college students. Furthermore, from a professional standpoint, we proudly participate as a founding member of the Diversity Project and have signed the Women in Finance Charter.
Our comprehensive approach to creating an inclusive environment for diverse talent is guided by three key principles:
1. Embracing a comprehensive perspective on diversity and inclusion: We firmly believe in considering all aspects, including socioeconomic status, disability, ethnicity, gender, and neurodiversity.
2. Promoting mindset transformation through education and fostering a corporate culture that holds everyone accountable.
3. Prioritizing fair hiring practices, professional development, promotion, and equitable treatment of all our employees.
To level the playing field for both our workforce and the clients we serve, we are continuously dedicated to our ongoing efforts. Glenn Hill actively supports non-profit organizations that share our commitment to diversity and inclusion.
Why invest in companies that focus on inclusion and diversity?
In order for businesses to have a comprehensive understanding of the dynamics shaping their industry, the global economy, and the world at large, it is crucial that they give serious consideration to inclusion and diversity (I&D) matters. By assembling a diverse and well-connected team of professionals, organizations are better equipped to navigate the complexities and address the challenges arising from today's diverse and interconnected world. Viewing inclusion and diversity as an investment, rather than solely from a moral standpoint, is essential because it recognizes the strategic importance of I&D in enabling businesses to thrive in an increasingly complex and globalized landscape.
Inclusion and diversity can affect your bottom line
The evaluation of the impact of inclusion and diversity (I&D) issues on company performance has been hindered by inadequate data quality and scarcity. Nevertheless, BlackRock recognizes the enduring importance of I&D as a long-term investor.
As societal preferences evolve, issues such as I&D are likely to play an increasingly significant role in influencing a company's bottom line, impacting its relationships with employees, consumers, and investors alike. While the direct correlation between specific I&D factors and corporate performance indicators is still being explored, current research indicates the potential for a positive relationship.
Inclusive environments attract and retain talent
In addition to gender diversity, studies have identified a correlation between LGBT-inclusive policies and various positive outcomes such as higher stock returns, firm value, productivity, and profitability. One possible explanation is that promoting sexual orientation equality enhances a company's competitive advantages in the labor market, although further research is needed to fully understand the underlying mechanisms.
Furthermore, implementing policies that support the needs of all talented employees, including those who are new parents or caring for elderly family members, can contribute to their success in their roles. Initiatives such as flexible working hours and daycare services can help retain talent and reduce employee turnover.
Companies can also enhance talent development and retention through traditional human capital metrics such as internal promotions, employee satisfaction, and management training. Implementing systemic changes and promoting the adoption of new habits and practices among employees can further support these efforts.
Inclusion and diversity at Glenn Hill
At Glenn Hill, we believe that "inclusion and diversity" is a skill that can be developed by managers and leaders. By doing so, they can effectively enhance engagement and productivity among their team members and those around them.
We are dedicated to making significant investments in fostering a culture where everyone has the opportunity to thrive. We value the contributions of all individuals, regardless of their visibility or prominence, and recognize that diverse perspectives are essential in achieving our clients' objectives. Our commitment to inclusion and diversity is driven by our understanding of how a diverse and inclusive workforce can fuel innovation and improve decision-making.
We prioritize inclusion and diversity because we recognize that businesses that overlook these aspects miss out on the opportunity to fully comprehend and navigate the dynamic business environment in which they operate.
