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THE ETHICAL AND BUSINESS
CASE FOR BOARD DIVERSITY.
December 10, 2014.
Cathy Gallagher-Louisy.
Director, Knowledge Services.
cathy@cidi-icdi.ca
Canadian Institute of Diversity and Inclusion.
@CatGL @CIDI_ICDI #CDNdiversity
www.cidi-icdi.ca
Agenda for Today’s Session.
• Welcome & Introduction.
• Business Case for Diversity and Inclusion.
• The Disconnect: Board Directors’ Perceptions.
• Diversity on FP500 Boards.
• The Way Forward.
• Q&A.
www.cidi-icdi.ca
Agenda for Today’s Session.
• Welcome & Introduction.
• Business Case for Diversity and Inclusion.
• The Disconnect: Board Directors’ Perceptions.
• Diversity on FP500 Boards.
• The Way Forward.
• Q&A.
www.cidi-icdi.ca
About the CIDI.
The Canadian Institute of Diversity and Inclusion is a
national non-profit organization that provides:
• networking & learning events in 8 cities,
• webinars (at least 2 per month),
• cutting edge new research,
• practical strategies and toolkits
for community and business leaders, HR and D&I
professionals across Canada.
Our mission is to help improve the overall inclusivity
of the Canadian workforce, and to develop the
inclusive leaders of tomorrow.
www.cidi-icdi.ca
The Founding 25 Employer Partners.
www.cidi-icdi.ca
CIDI Employer Partners.
Toronto
Police
Service
www.cidi-icdi.ca
Canadian Centre for Diversity.
Mission:
To inform and educate Canadian
society about the value of diversity,
difference and inclusion.
Vision:
A society without prejudice and
discrimination – a society that
celebrates diversity, difference,
and inclusion.
Mandate:
Promote diversity and inclusion by
providing educational programs in
Canadian schools.
centrefordiversity.ca
BUSINESS CASE FOR
DIVERSITY AND INCLUSION.
www.cidi-icdi.ca
Impending Talent Shortage.
Source: Miner 2012.
www.cidi-icdi.ca
Canada’s Imperative.
Source: Miner 2012.
Financial Influence.
The Business Case – Customers
-
www.cidi-icdi.ca
Quiz.
In what school year did women start to account for more
than 50% of undergraduate degrees in Canada?
1979-1980
Women in Canadian Business.
Catalyst. Pyramid: Canadian Women in Business. New York: Catalyst, March 3, 2014.
Women in Canadian Business.
www.cidi-icdi.ca
Bottom Line Impacts.
Increase revenues.
Embracing diversity and inclusion can help increase
revenues by:
• Attracting new customers.
• Building customer loyalty; retaining existing business.
• Improving cross-cultural customer service.
• Improving accessible customer service.
www.cidi-icdi.ca
Bottom Line Impacts.
Reduce costs.
Fostering a diverse and inclusive environment will help
your company reduce costs by:
• Reducing differential turnover across demographic
groups.
• Minimizing litigation costs.
www.cidi-icdi.ca
Bottom Line Impacts.
Increase Productivity.
Cultivating a diverse and inclusive work environment
ensures that you get the most from your employees by:
• Recruiting and retaining the top talent.
• Maximizing productivity through flexibility.
• Maximizing employee engagement.*
*Engaged employees are more productive, provide better
customer service, go above and beyond, and experience
less absenteeism.
THE DISCONNECT:
BOARD DIRECTORS’
PERCEPTIONS.
www.cidi-icdi.ca
Is Board Diversity Important?
Source: Canadian Board Diversity Council. 2014
Responses from FP500 Board Members.
www.cidi-icdi.ca
Is Your Board Diverse?
Source: Canadian Board Diversity Council. 2014
Responses from FP500 Board Members.
www.cidi-icdi.ca
Written Diversity Policy?
Source: Canadian Board Diversity Council. 2014
Responses from FP500 Board Members.
“Does your board have a written diversity policy?”
www.cidi-icdi.ca
Considerable Resistance.
Source: Canadian Board Diversity Council. 2014
Responses from FP500 Board Members.
“Do you feel that this board should develop and adopt a
formal diversity policy?” (among those who do not have a
diversity policy)
THE DISCONNECT:
FP500 BOARD DIVERSITY.
www.cidi-icdi.ca
Women on FP500 Boards.
Source: Canadian Board Diversity Council. 2014
www.cidi-icdi.ca
Women on Canadian Boards.
Source: Canadian Board Diversity Council. 2014
www.cidi-icdi.ca
Visible Minorities on FP 500 Boards.
Source: Canadian Board Diversity Council. 2014
Visible minorities = 19.1% of Canada’s population.
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Aboriginal People on FP 500 Boards.
Source: Canadian Board Diversity Council. 2014
Aboriginal Peoples = 4.3% of Canada’s population.
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People with Disabilities on FP 500 Boards.
Source: Canadian Board Diversity Council. 2014
People with Disabilities = 13.7% of Canada’s population.
BUSINESS CASE FOR BOARD
DIVERSITY.
www.cidi-icdi.ca
Six Benefits of Board Diversity.
1. Strong financial performance.
2. Ability to attract and retain top talent.
3. Heightened innovation.
4. Enhanced client insight.
5. Strong performance on non-financial indicators.
6. Improved board effectiveness.
Source: Conference Board of Canada. 2013
www.cidi-icdi.ca
Improved Board Effectiveness.
Source: Conference Board of Canada. 2013
THE WAY FORWARD.
www.cidi-icdi.ca
8 Strategies for Increasing Diversity on
Boards.
1. Leadership Commitment.
2. Adopt Formal Board Policies.
3. Recruit Outside the C-Suite.
4. Recruit Beyond Traditional Networks.
5. Increase Diversity in the Leadership Pipeline.
6. Sponsor High-Potential Women and Minorities.
7. Focus on Competencies.
8. Ensure Nominating Committee Impartiality.
Source: Conference Board of Canada. 2013
www.cidi-icdi.ca
Demand, not Supply.
DiverseCity Onboard
• http://diversecitytoronto.ca/get-involved/onboard/
Canadian Board Diversity Council, Diversity 50.
• http://www.boarddiversity.ca/en/diversity-50
Catalyst Corporate Board Services.
• http://www.catalyst.org/what-we-do/services/corporate-board-
services
www.cidi-icdi.ca
New Reporting Requirements.
• Director term limits and other mechanisms of board
renewal.
• Policies regarding the representation of women on the
board.
• Consideration of the representation of women in the
director identification and selection process.
• Consideration of the representation of women in executive
officer appointments.
• Targets regarding the representation of women on the
board and in executive officer positions.
• The current number of women on the board and in
executive officer positions.
www.cidi-icdi.ca
cathy.gallagherlouisy@cidi-icdi.ca
www.cidi-icdi.caWANISHI
THANK YOU.Cathy Gallagher-Louisy.
Director, Knowledge Services.
cathy@cidi-icdi.ca
www.cidi-icdi.ca
ca.linkedin.com/in/cathygl
@CatGL @CIDI_ICDI
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