Post on 22-Jun-2020
transcript
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Speakers
Christiane BergevinChair, The Canadian Chamber of Commerce
Ginny FloodVice President, Government Relations,Suncor Energy Inc. and First Vice Chair, TheCanadian Chamber of Commerce
Hon. Perrin BeattyPresident & Chief Executive Officer,The Canadian Chamber of Commerce
Anne-Marie HubertAdvisory Managing Partner, EY CanadaErnst & Young LLP and Director, The Canadian Chamber of Commerce
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Agenda
1. Introduction
2. The Canadian Chamber
3. Why Diversity Matters
4. Diversity and Performance
5. Women and Diversity
6. Board Commitment and Support
7. What Can You Do?
8. Conclusion
9. Q&A
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The Canadian Chamber of Commerce
450 local, regional and provincial chambers
200,000 businesses represented in our network
The Voice of Business in Ottawa and internationally
Managed by a board of dedicated business leaders
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Why Diversity Matters
• In a survey of Canadian corporate board directors, more than
half of respondents (51%) stated a lack of diverse thinking is a
barrier to innovation in the economy.
• Companies in the top quartile for racial and ethnic diversity are
35% more likely to have financial returns above their respective
national industry medians.
• Companies in the top quartile for gender diversity are 15% more
likely to have financial returns above their respective national
industry medians.
• Statistics demonstrate an increase of 15% in additional profit
observed when the share of women in leadership positions went
from 0% to 30%.
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Diversity and Performance• The Institute of Corporate Directors has
shown that companies with diverse boards tend to file more patents.
If Canada aspires to be an innovation economy, this hasfar-reaching implications.
• Companies with diverse executive boards enjoy significantly higher earnings and returns on equity.
• Over an eight-year period, S&P/TSX companies with at least one woman on their board produced an annual 11% compound return – outperforming peers by more than 3%.
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Womenand Diversity
• Only 3% of companies have adopted targets for the number of women executive officers (14% S&P TSX companies).
• 47% of companies disclosed they have a written board diversity policy.
• Women make up 56% of Canadian university graduates, but only 29.6% in STEM faculties.
• A 10% advance in the number of women owned SMEs would result in a $198 billion increase toward Canada Gross Domestic Product.
• With an aging population, we must tap into the potential of all Canadians, men and women alike.
• Help build a pipeline of women ready for senior leadership and corporate boards. When you have a position to fill, demand a balanced slate of women and men – don't accept a male-only shortlist, nor the response that there aren't enough qualified women.
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Board Commitment and Support
• Our board has strong geographic
representation, sectoral representation and
various skill sets.
• What we are aiming for is a more diverse board,
where we can count on a multitude of different
viewpoints, which will include a strong female
representation and people from diverse ethnic
backgrounds, including Indigenous peoples.
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What Can You Do?• Policies and programs put in place to address diverse employee needs
encourage loyalty and reduce turnover.
• The Institute of Corporate Directors and Osler, Hoskin & Harcourt LLP
have created a complimentary board diversity policy template
designed to help companies meet gender diversity disclosure
requirements and to provide a tool for boards to begin or further their
process of diversification.
• Visit chamber.ca/resources/diversity-and-inclusion-in-the-workplace/
for more resources.
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Conclusion• We are moving from goal to action.
• We will be reviewing our performance annually to
hold ourselves to account.
• We are working with the Rick Hansen Foundation on
the construction of our new office to make sure it is
compliant with their standards on accessibility.
• We are working with the Mental Health Commission of
Canada to adopt workplace standards for mental
health.
• We are working to include an Indigenous perspective
in our policy and advocacy areas.
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Q&A
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THANK YOUMERCI
For more information, visit us at Chamber.ca.
Or follow us on Twitter at @CdnChamberofCom.