‘Surprising and Disappointing’; Data Gap On Gender, Minorities At Top Firms
…But the lack of diversity in the ranks of Canadian companies extends far beyond specific industries and remains a problem in the country’s most powerful and influential firms.
The Canadian Press asked all firms included in the TSX 60 index as of Jan 1. 2019 to share data on how many women and employees who identify as visible minorities, as defined in the Employment Equity Act, worked at their companies in 2017.
Among the companies who responded, some said women comprise as little as eight per cent of the workforce, while many others refused to disclose.
What’s more, many of the firms on the TSX 60 won’t say — or aren’t even tracking — how many of their employees identify as visible minorities.
These publicly listed companies are not required by law to disclose such information, but advocates have long called for transparency and for companies to — at minimum — track data and to measure progress, in a bid to facilitate change.
One-quarter, or 15 firms, did not provide or otherwise publicly disclose figures for gender representation.
Nearly 60 per cent, or 35 companies, did not provide or publicly release the representation of visible minorities in their ranks and more than 23 per cent, or 14 companies, said they were not tracking the metric at all.
Among the 42 companies included on the index that did share specific or percentage data on gender diversity in their workforce, 34 indicated that less than 50 per cent of their workforce was female — less than the national average.
In two cases, the percentage of women employees was in the single digits…
The sluggish progress on diversity metrics suggests a stronger government approach may be necessary, said independent Ontario senator Ratna Omidvar.
She was one of six members that backed a proposed bill amendment that would force public companies in Canada to set internal company diversity targets for the board and senior management.
The Senate voted against the amendment last March.
Omidvar said the amendment’s failure stemmed from a broader feeling in the business community that firms, if left to flourish without regulation but given guidance, will improve on these metrics and “a tide will lift all boats.”
“Well, it hasn’t exactly happened has it? … So I would say, that does not work.”
Read the full article on the Toronto Star’s website.