Where companies must disclose women representation in the boardroom and in the executive, since the introduction of the OSC’s “comply-or-explain” model in 2016, there was minimal movement toward the target of 30% by 2020. At the time of the review, 46% of public companies had NO women on their corporate boards in 2016. The National Instrument 58-101 “Disclosure of Corporate Governance Practices” is the rule, however the value of a more diverse board and workforce enhances the bottom line.
The research is clear. A more diverse executive means outperforming your peers. McKinsey’s investigation into why diversity matters indicates a ‘Diversity Dividend’ The value of diversity does not stop at gender as McKinsey describes; “We know intuitively that diversity matters. It’s also increasingly clear that it makes sense in purely business terms. Our latest research finds that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.”