Strengthening People & Organizations
Loan officers and other microfinance institution (MFI) staff develop strong relationships with their clients and within the communities the MFI serves. This intimate approach helps MFIs make a difference in the lives of poor people. As MFIs grow and reach even more poor people, attracting, developing, and retaining talented staff is critical. In fact, 70 percent of an MFI’s operating costs are devoted to human capital activities. The challenge is to manage this important resource effectively.
Launched in 2008, our Human Capital Center (HCC) focuses on helping MFIs strengthen the practices by which they manage staff and align these practices with the MFI’s overall business strategy. Our goal is to help them operate more efficiently, achieve both their social and financial goals, successfully implement new products for their clients, and achieve sustainable growth.
HCC is developing a range of products and services for MFIs. The center has already piloted an assessment tool at three MFIs in Asia and Africa that identifies current human resource practices across the organizations and any gaps that must be addressed to help them effectively meet their strategic goals. Other tools, including a potentially transformative next-generation leadership development program and a talent acquisition toolkit are in early stages of development.
Building on our experience in creating successful public/private alliances, we are engaging traditional and nontraditional partners to help us make the greatest impact possible in the communities we serve. Collaboration partners like the Center for Creative Leadership, Continuum and CoCoon Consulting are helping us develop innovative solutions. The work of the Human Capital Center is made possible by the leadership support of Citi Foundation with additional funding provided by The McGraw-Hill Companies and The Capital Group Companies.