WCM (Women in Capital Markets) launches a Parental Leave Pledge to increase the use of parental leave by fathers and non-birth parents

By WCM | June 30, 2022

TORONTO | June 27, 2022 (GLOBE NEWSWIRE) -- WCM (Women in Capital Markets), a national not-for-profit company that works to accelerate equity, diversity, and inclusion in finance, is pleased to announce the launch of its Parental Leave Pledge. The Pledge invites organizations in finance to commit to increasing fathers’ and non-birth parents’ use of leave upon the birth or adoption of children. Research shows that inclusive leave policies and practices are key in moving towards greater equity, diversity, and inclusion.

The Pledge highlights some of the penalties that fathers and non-birth parents can experience when using or requesting leave, such as negative reactions and judgments from coworkers and managers. Often such responses stem from the deeply rooted gendered norms that continue to operate in many organizations and which position non-birth parents as secondary caregivers. The Pledge also highlights the barriers that prevent leave use, citing a recent report by WCM showing that a majority of men report unsupportive work cultures and gender stereotypes as barriers to leave.

The Pledge lists 7 key commitments that organizations can take to ensure that leave policies and practices are more inclusive for all parents. These include: providing paid leave top-ups to all parents, fostering a supportive culture that normalizes parental leave for everyone, working to make the leave process as easy as possible, ensuring that careers and earnings are unaffected by leaves, communicating leave policies to all employees, collecting and analyzing organizational data on leave use, and publicly stating the organization’s support for leave.

The deadline for finance firms to sign the Pledge is December 31, 2022.

--

About WCM

WCM is a national not-for-profit organization founded in 1995. We execute our mission through:

  1. Building equity literacy
  2. Amplifying diverse talent
  3. Uniting Canada’s finance industry

Our partners include the major Canadian bank-owned dealers, independent and foreign dealers, asset managers, insurance firms, major pension plans, regulatory agencies, exchanges, and advisory firms. Our community of 3,500 professional and student members makes WCM the largest network of professionals in Canadian finance who have come together to vote for increased equity, diversity, and inclusion.

Ways to support our mission towards equity and diversity:

  • Become a WCM member at wcm.ca/join
  • Support WCM research by completing future surveys and sharing with colleagues
  • Amplify and share WCM research and reports internally at your firm, in your network, and on social media

For additional information, please email us at info@wcm.ca

WCM Report | The Parent Potential

WCM Report | The Parent Potential

WCM's The Parent Potential provides a snapshot of corporate parental policies in Canada's finance industry. The report includes a pulse check on emplo...

Read more
Dads, don’t skimp on paternity leave – your kids, women, and a more equitable workforce, are counting on you

Dads, don’t skimp on paternity leave – your kids, women, and a more equitable workforce, a...

Read more

What is your reaction to the fact that the 61st session of the Commission on the Status of Women will be chaired by a man?