WCM Report | The Equity Equation
October 26, 2020
THE EQUITY EQUATION: A Roadmap To Equity, Diversity and Inclusion in Finance
The Equity Equation is an industry-wide analysis of employee experiences in Canada’s finance industry, looking at how personal identities including gender, race and sexual orientation, impact experiences at work. The report includes a new, innovative roadmap to equity, diversity and inclusion, and is a must-read for any professional or firm looking to advance ED&I. The findings are based on survey data collected in 2019 from 600 professionals in Canada’s capital markets.
Four Real Ways You Can Support ED&I in Finance
- Read The Equity Equation.
- Share The Equity Equation and discuss with your colleagues.
- Take action on any of the recommendations included in The Equity Equation.
- Spread the knowledge - we invite you to share any of the below graphics on your social media accounts (and tag @WCMCanada)
Supportive Materials For You and Your Team
- Get a visual snapshot of key findings in this infographic.
- Understand the reported experience of Black women in Finance.
- A quick run-down on Equal Pay in Finance
- Here's a step by step roadmap to accelerate equity, diversity and inclusion at your firm. A detailed action plan is available for you on page 11 of The Equity Equation report.
Key Findings Include
- 55% of women believe they are treated equally and 48% say they have equal access to opportunities compared to other genders at their work.
- Equal pay remains a concern, with only 34% of women believing they are paid equally to other genders (compared to 74% of men).
- Half of women (48%) and more than half (62%) of the LGBTQ2S+ community recognize bias in their workplace.
- There is a persistent opportunity gap, with only 41% of Black women believing they have equal opportunities to men at their firm.
- Advancement processes are an opportunity for progress: fewer than half of women (47%) and LGBTQ2S+ employees (46%) believe the feedback and review process at their workplace is fair, and only 29% of women believe the promotion process is fair.
- More than 50% of women believe it is time to introduce quotas at both the Board and executive level for a set period of time.