Women are still underrepresented in corporate boardrooms – are companies doing all they can to close the gap? Plus, a reader seeks advice on transitioning from mat leave to a high-intensity job
Gender equity in corporate boardrooms in Canada is still far from equitable, despite diversity disclosure rules.
Since 2020, the federal government has required corporations governed by the Canada Business Corporations Act with publicly traded securities disclose to shareholders the number of women and other diverse groups on boards and in senior management positions. In Ontario, the Ontario Securities Commission has required since 2014 that most TSX-listed companies set targets for women on boards and executive committees.
Ms. Reynolds says there are several key measures company leadership can take to improve gender balance on boards:“I worry with some boards it’s a bit of a check-the-box initiative. ‘Okay, we’ve got three women, we’ve got one diverse candidate, but we don’t really change much about the way the board functions,’” Ms. Reynolds says.
As well, companies need to hold themselves accountable for meeting those targets, she says. The companies that are successfully closing the gender gap have targets, they’ve made them known publicly, and they hold executives accountable for failing to meet them. Ask for introductions and attend events where you’re likely to meet senior executives and board members in sectors of interest, she says. And don’t be afraid to ask people to meet for a coffee and talk about potential board roles.“Don’t hesitate to reach out… You’ve got to get out there and start talking to more people if you’re going to get on the right boards.”Question: I’m coming back from a year-long maternity leave and I’m feeling apprehensive.
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