Further resources

Use the links below to view an annotated bibliography of resources that relate each key theme.

 

Entry points into SPM

Social Performance Map, SEEP Network Social Performance Working Group helps reader understand important issues and make informed decisions related to social performance. See Chapter 1 on Corporate Social Responsibility, Chapter 3 on Socially Responsible Investing, Chapters 6 and 7 on Social Auditing and Rating, and Chapter 10 on Poverty Assessment Tools.

Negros Women for Tomorrow Foundation PPI Case Study - Philippines, Grameen Foundation. Provides an overview of why and how NWTF adopted the PPI. It describes how it is using the results to shape its products, services, and recruitment and management processes to reach a greater number of poor borrowers efficiently.

Getting started

Assessing and Managing Social Performance in Microfinance, IFAD offers a framework for IFAD to develop internal systems that monitor progress towards its social objectives in rural finance. Pages 13–19 provide concepts on developing SPM systems and pages 32–45 provide case studies of how six different MFIs have undertaken SPM concepts.

Leading Change Management, Shorecap Exchange Argues that it is essential to manage change proactively. It details strategies and tools to manage change, and presents challenges and ways managers can effectively manage change.

Social Performance Map, SEEP Network Social Performance Working Group helps readers understand important issues and make informed decisions related to social performance. There is also an extensive list of resources in Chapter 15.

Spotlight Notes, Microfinance Centre for CEE and NIS #4: Scoring Change: Prizma’s Approach to Assessing Poverty outlines the approach taken by Prizma, an MFI in Bosnia. It focuses on the development of a poverty scorecard. The table on Page 8 provides information on how Prizma staff and consultants spent their time in developing the poverty scorecard.

Social mission and strategy development

Gender and Microfinance: Approaches, Evidence, and Ways Forward, Women’s Empowerment through Sustainable Microfinance Training Series, Module 2, Linda Mayoux. Provides an overview of contrasting but reinforcing views about the relationship between women’s empowerment and microfinance and the assumptions on which they are based; evidence of gender impact and the degree to which this would support these assumptions; the key questions currently facing microfinance in relation to women’s empowerment; and key elements of a gender strategy for women’s empowerment.

Microfin Business Planning and Financial Modelling Handbook : A Microsoft Excel spreadsheet designed to assist MFIs in developing detailed financial projections to accompany their business plans; contains chapters on Developing a Strategic Plan.

From Mission to Action: Strategic Management Toolkit Handbook, Microfinance Centre for CEE and NIS Presents a step-by-step process to improve strategic management capacity, using case studies and references to additional training and resources. For more information about balanced scorecards and how to use them, see Chapters 3 and 10.  For information on mission reviews, see Chapter 6: Deconstructing the Mission, pp 28–30. For more information on strategic planning, see Chapters 3 and Chapters 7, 8 and 9 (pp. 17–20 and 31–54). For more information on operationalising strategy, see Chapters 4–5 and 10–12 (pp 21–27 and 55–72). To request the full toolkit, e-mail microfinance@mfc.org.pl.

Spotlight Notes, Microfinance Centre for CEE and NIS #5: Realising Mission Objectives: A Promising Approach to Measuring the Social Performance of Microfinance Institutions. Argues that the key to developing sustainable social performance measurement systems and practices is to consider their design from the perspective of the institutional mission.

Sustainable Microfinance for Women’s Empowerment Strategy Checklists, Linda Mayoux. Provides checklist questions that management and the Board can use to either implement new strategies to assist women or to improve existing strategies, including organisational vision, product design, internal gender policies, gender equality, and women’s participation.

Governance

Handbook for the Analysis of Governance of Microfinance Institutions, CERISE and IRAM. The guide helps identify strengths and limitations of an MFI’s governance structure. The first module is a diagnostic tool for evaluating the governance of an MFI; the second is designed to guide reflection on the strategic choices and governance challenges that MFIs face.

Guidelines to Effective Governance of Microfinance Institutions, MicroFinance Network: This paper presents guidance to senior management and Boards of Directors of MFIs in areas of governance. The topics covered include managing management, mandate of the Board, oversight, and Board appraisal.

Social Performance Map, SEEP Network Social Performance Working Group: The content of the Map is intended to equip industry stakeholders with required information to make informed decisions related to social performance. See Chapter 14 on Governance issues around social performance.

Transforming NGO MFIs, CGAP Occasional Paper: This paper provides insights and guidance for those who plan to carry out a transformation.

Stemming the Tide of Mission Drift: Microfinance Transformations and the Double-bottom Line, Women’s World Banking: This paper provides an overview of the process by which MFIs convert from NGOs into regulated financial institutions – known as transformation – and examines the impact of transformation on a control group of MFIs tracked by WWB over five years, giving particular attention to the effect of transformation on MFIs' outreach to low income women. The findings confirm the prevailing notion that transformation catalyses growth in MFI outreach and product offerings. However, the data also revealed a decline in the percentage of women clients served after transformation. On page 2 of the paper, the authors address ‘Why MFIs Transform’ and, on page 18, they discuss different MFIs’ experiences with transformation.

Communications

Social Performance Map, SEEP Network Social Performance Working Group: The Social Performance Map help readers understand important issues and make informed decisions related to social performance. It also provides information on the most common reporting standards for social performance in Chapter 15 for external reports.

From Mission to Action: Strategic Management Toolkit Handbook, Microfinance Centre for CEE and NIS For those seeking to improve their capacity in strategic management, this handbook presents a step-by-step process. It includes case studies highlighting how MFIs have used the toolkit. For information on communication, see Chapter 11: ‘Develop a change management plan to ensure strategy implementation’, pp 68–69.

Information systems

Process Mapping Toolkit, MicroSave: This toolkit provides a comprehensive overview of why and how to conduct process-mapping using a four-tiered process-mapping framework that encompasses: 1. Flowcharting the processes; 2. Describing the processes; 3. Analysing the risks in the processes and identifying process improvements; 4. Analysing the internal controls and other risk management strategies to manage the risks.

How to Improve your MFI’s Efficiency by Process Mapping, SEEP Network: Introduction to the concept and uses of process mapping, followed by an exclusive interview with practitioners who have done process mapping.

Business Process Modeling / Business Process Management (BPM/M) seminar, Agidigm Corporation and Grameen Jameel Pan-Arab Microfinance Limited contact info@grameen-jameel.com for more information.

Negros Women for Tomorrow Foundation PPI Case Study - Philippines, Grameen Foundation. This case study provides an overview of why and how NWTF adopted the PPI. It also details how the organisation is using the results to shape its products, services, and recruitment and management processes, enabling it to reach a greater number of poor borrowers as efficiently as possible. The Challenges and Solutions section on page 7 covers such issues as data interpretation, cost of implementation, and the method NWTF used to make actual modifications to its MIS.

Mifos open source microfinance software solution, Grameen Foundation: Grameen Foundation’s information system (Mifos) incorporates a survey module directly and allows for extensive flexibility in incorporating new data.

Indicators Related to Gender – for social rating, EDA Rural Systems (Frances Sinha): This note sets out some of the context issues and the current draft list of gender related indicators that we are considering as part of a social rating assessment. (Must join the GenFinance listserv first.)

Social Performance Map, SEEP Network Social Performance Working Group: The content of the Map is intended to equip industry stakeholders with useful information that will allow them to sort through and understand the important issues and make informed decisions related to social performance. See Chapter 11, ‘Common Social Performance Indicators for Microfinance’, for information on the social indicators the SPTF is focusing on.

From Mission to Action: Strategic Management Toolkit Handbook, Microfinance Centre for CEE and NIS For those seeking to improve their capacity in strategic management, this handbook presents a step-by-step process. It also includes case studies highlighting how MFIs have used the toolkit. For information on choosing and creating social indicators, please refer to section 10.3.  To request the full toolkit, e-mail microfinance@mfc.org.pl.

Spotlight Notes, Microfinance Centre for CEE and NIS

• #3: Improving Cost-Effectiveness of Exploratory Practitioner-Led Research: Key Factors to Consider When Selecting Tools. Provides a detailed, seven-step approach to carrying out research at MFIs around client needs, etc.

 #5: Realising Mission Objectives: A Promising Approach to Measuring the Social Performance of Microfinance Institutions. The paper argues that the key to developing sustainable social performance measurement systems and practices is to consider their design from the perspective of the institutional mission. Building SPM into the institutional mission and goals is a promising way to ensure it is institutionalised and cost effective. Pages 4 and 5 cover issues around choosing social indicators and what to do with the information once it has been collected. There is a sample MIS SPM report on page 6.

Human resource management

HR Challenges and Solutions in Microfinance, Microfinance Insights/Intellecap: The Microfinance Insights magazine ran an online survey on Human Resources Challenges and Solutions and published the highlights of the survey findings. Over 90 respondents from 31 countries were surveyed and the resulting report presents insightful perspectives from the human resources field in microfinance.

Branch Management Training for MFIs (Trainer's and Participant's manual): Developing Staff Management Skills, SEEP Network: The Branch Management Training for MFIs is designed for Branch Managers in MFIs, but the material is applicable to all levels of management who supervise staff. 

What is Gender? Basic Concepts, Women’s Empowerment through Sustainable Microfinance Training Series, Module 1, Linda Mayoux Examines participants’ existing concepts of gender and their own views on priorities for change. Also gives an overview of debates on gender mainstreaming and the triple framework of gender equality of opportunity, gender equity of outcomes and women’s empowerment. This training module could be used or adapted by an MFI to introduce its staff to the gender equity and empowerment principles and issues.

Iceberg of Inequality, Tim McCaskell (adapted by Shazreh Hussain) An exercise to generate an understanding of discrimination and generate ownership of gender issues. This exercise could be used or adapted by an MFI to introduce its staff to the gender equity and empowerment principles and issues. (Must join the GenFinance listserv first.)

Pitfalls and Unintended Outcomes: Advice on Designing and Implementing Staff Incentive Systems, SEEP Network: This learning paper is structured as an interview of practitioners from seven different microfinance institutions and one technical assistance provider. They talk about the difficulties they have encountered in implementing incentives schemes and how they have addressed the challenges.

Designing Staff Incentive Schemes to Balance Social and Financial Goals, MFN and CGAP: This paper finds that well-designed staff incentive schemes (SIS) can indirectly support the overall organisational mission. It explores the role of SIS in balancing social and financial goals of an MFI. The paper examines the SIS of four institutions to identify best practices.  (Use the search terms ‘staff incentive’ and ‘human resources’ on www.microfinancegateway.org to find several other resources on staff incentives and human resources management issues.)

Incentive Toolkit, MicroSave: This toolkits provides a detailed examination of: 1. The Theoretical Background of Staff Incentive Schemes; 2. Basic Building Blocks for Staff Incentive Schemes; 3. Principle Design Questions for Staff Incentive Schemes; 4. Incentive Schemes for Different Functional Areas in MFIs; 5. A Step-by-Step Approach to the Design of Incentive Schemes; 6. A Benefit-Cost Analysis of Incentive Schemes; 7. Incentive Schemes in Other Areas of Microfinance.

On-line Speaker's Corner on Staff Incentives, Microlinks:  Includes a full-day discussion on balancing financial and social performance incentives.

Results Of The Staff Incentive Survey Carried Out Within The Central Europe and Central Asia Region, Microfinance Centre for CEE and NIS: This survey was carried out to see which type of staff incentives are in use across the region, which staff are eligible for incentive schemes and how often incentives are given to staff.

Spotlight Notes, Microfinance Centre for CEE and NIS #2: Sustaining Social Performance Institutionalising Organisational Learning and Poverty Outreach at Prizma Pages 5 and 6 cover how Prizma created and uses the staff incentive programme, which includes certain social performance requirements.

Client protection

MicroSave Toolkits: MicroSave’s website offers a variety of market research tools, as well as guidance on how to develop a customer service oriented culture in an MFI. (Toolkits: Customer Service, Market Research for Microfinance, Planning, Conducting and Monitoring Pilot-Tests for MFIs, and Quantitative Research).

Building Customer Loyalty: Technical Guide No. 2, MicroFinance Network and ACCION International Addresses a range of issues associated with client loyalty and drop-out, including how to measure and monitor them and structure an MFI to be more customer service oriented.

Bringing Pro-Consumer Ideals to the Client: A Consumer Protection Guide for Financial Institutions Serving the Poor, ACCION International This monograph guides institutions through the process of incorporating consumer protection principles into their organisational philosophies and operations. The Pledge defines principles to equip microfinance customers with rights while minimising the operating costs so that MFIs can remain sustainable in the long term. This report outlines tangible ways in which MFIs are currently integrating the ideals of the Pro-Consumer Pledge into their operations.

Sustainable Microfinance for Women’s Empowerment Strategy Checklists, Linda Mayoux: Provides checklist questions the MFI staff can use to either implement new product and delivery attributes, including for non-financial products, in assisting women or to improve upon existing attributes (Module 4 – Product Design Checklist).

Insight #7: Market Intelligence: Making Markets Work for Microfinance, ACCION International: Walks the reader through two case studies of how ACCION International helped MFIs be more client- and market-responsive.

Learning from Clients: Assessment Tools for Microfinance Practitioners, SEEP AIMS Tools: Contains detailed guidance written by and for practitioners for planning and implementing impact assessments and for analysing all data generated; a coherent set of quantitative and qualitative tools that address the most common hypotheses that undergird microfinance programmes; clear explanations of indicators and measures used, along with supplementary discussions of additional sets of potential interest to individual users; and methods that provide information on impact and client satisfaction and that result in specific feedback for programme improvement.

Managing for Impact in Rural Development: a Guide for Project M&E, IFAD: Focuses on how M&E can support project management and engage project stakeholders in understanding project progress, learning from achievements and problems, and agreeing on how to improve both strategy and operations.

Spotlight Notes, Microfinance Centre for CEE and NIS

#8 Counting on Your Prospective Clients: This note presents some principles in measuring microfinance client satisfaction and loyalty using a quantitative survey. The authors present some general marketing research rules as well as new insights specific for the microfinance industry and general concepts of satisfaction and loyalty and discuss the potential results one can obtain.

#10 Beyond Numbers: Prizma's Exit Monitoring System: This paper presents a summary of an approach taken by Prizma, a Bosnian MFI, for monitoring and understanding exiting clients. This paper focuses on the exit monitoring rationale, final system characteristics, the design process, evaluation of the pilot tests and subsequent launches in all Prizma branches, the costs and benefits of this approach, and issues to be taken into account for improving the system.

#11 Client Desertion in Microfinance: How To Diagnose It Successfully? This Spotlight Note identifies key principles in investigating client desertion. These insights are based on the action-research work of the Microfinance Centre (MFC) and three MFIs.

Internal control

Improving Internal Control: A Practical Guide for Microfinance Institutions, ACCION International:  Good general resource for implementing effective internal control systems in a microfinance institution but with an emphasis on ensuring strong financial performance.

External Audits of Microfinance Institutions: A Handbook, CGAP:  Provides guidance on accounting and auditing standards relevant to microfinance as well as instructions on how to contract an external financial audit.

Social Performance Map, SEEP Network Social Performance Working Group: The content of the Map is intended to equip industry stakeholders with useful information that will allow them to sort through and understand the important issues and make informed decisions related to social performance. See Chapters 6–9 for more information on the social assessment tools, auditing firms (Chapter 6) and rating agencies (Chapter 7).

'Walking the Talk' Internal Gender Policy, Women’s Empowerment through Sustainable Microfinance Training Series, Module 5, Linda Mayoux: Gives an overview of the necessary elements of an internal gender policy.

Sustainable Microfinance for Women’s Empowerment Strategy Checklists, Linda Mayoux: Provides checklist questions the MFI staff can use to either implement new internal gender policies in assisting women staff members and women clients or to improve upon existing policies (page 9).

Internal Audit and Controls for MFIs Toolkit, MicroSave: Tools and resources for conducting, reporting, and following up internal audit recommendations are included in the toolkit to provide suggestions and guidance. However, it is recommended that all of the tools and resources be edited and adapted for the individual and specific needs of MFIs and Self-Help Groups. This course is designed for senior managers who are looking for ways to understand and strengthen their internal control systems, whether through preventive strategies or detective strategies designed to manage operating risk.

©2012 Imp-Act Consortium