In 2022 we expanded our Gainful Jobs Approach™ to include a third pillar—Diversity, Equity, and Inclusion (DEI)—to help portfolio companies build workplaces where all employees thrive and are able to make meaningful contributions to their companies. We view our work with portfolio companies on DEI as an important lever to helping companies achieve their job quality goals and another opportunity to support value creation and strengthen the businesses we invest in.
Included below is a summary of how we think about DEI at HCAP. We recognize that often these terms are used interchangeably or narrowly interpreted to focus on only one aspect of DEI.
HCAP’s Internal DEI Commitments
As part of implementing the DEI pillar within the Gainful Jobs Approach™ with our portfolio companies, we’ve begun the process of making our own internal commitments to more explicitly advance DEI within our firm. We acknowledge that we are still early on in our own DEI journey and that there is more work to be done, but we’re excited to share the following commitments that will guide our internal efforts and assessment of progress.
- HCAP is committed to maintaining a majority diverse team
- HCAP is committed to hiring additional women and non-binary individuals to its team to achieve greater gender diversity
- HCAP is committed to promoting diverse individuals from within to support the next generation of firm leadership
- HCAP is committed to building an equitable and inclusive workplace where everyone thrives
- HCAP is committed to advancing DEI through the Gainful Jobs Approach™ by supporting portfolio companies in implementing workplace practices that create a more inclusive and equitable work environment and by adding diverse board members to company boards of directors
HCAP Partners team, March 2022
DEI Goal Setting and Progress
In 2022 we met with our portfolio companies to introduce HCAP’s focus on DEI and begin discussing the opportunity to integrate specific DEI goals among their quality jobs goals outlined in their Strategic Roadmaps. As our portfolio companies formulated these goals we served as a sounding board and provided resources and guidance to help our portfolio companies in identifying goals that would be reflective of their culture, mission, and organizational priorities. As part of implementation of DEI goals, we observed that companies focused their initial year’s work on supporting culture building to promote inclusive work environments, implementing foundational human resources policies and practices that had not previously been formalized, and extending new benefits to employees.
Implementing the DEI Pillar within the Gainful Jobs Approach™ to Drive Value Creation
Award winners at BetterNight’s core values luncheon.