November 12, 2020
The 50 – 30 Challenge is an initiative between the Government of Canada, business, and diversity organizations. Together with project co-creators, many of whom have been striving to increase corporate diversity for decades, the government is shaping a plan to improve access for racialized persons, people who identify as LGBTQ2, people living with disabilities, as well as First Nations, Inuit and Métis to positions of influence and leadership on corporate boards and in senior management.
The goal of the program is to challenge Canadian corporations to increase the representation and inclusion of diverse groups within their workplace, while highlighting the benefits of giving all Canadians a seat at the table. The government has always believed in seeking the best available advice when making decisions. The 50 – 30 Challenge will be developed with the help of decades of expertise from both private sector and advocacy partners, and will offer a variety of tools and resources to support participating companies in achieving real results.
To maintain momentum on this work, and in the spirit of transparent co-creation, the government is planning to further publicize the beginnings of further dialogue and the shaping of this initiative very shortly.
Company participation will help illustrate the collaborative nature of this approach as those involved work in partnership to design a meaningful challenge.
Why should you participate?
- The Challenge is an opportunity to champion an important and growing effort in the Canadian business world.
- Women comprise 50% of Canada’s population and racialized persons, people who identify as LGBTQ2, people living with disabilities, as well as First Nations, Inuit and Métis as the founding peoples of Canada, represent roughly 30%
- Research shows that by providing equal opportunities to diverse groups, better corporate governance will follow.
- Access resources and connections with partners who specialize in recruitment of diverse employees, social media promotion and more
- Participants may be able to provide input on related government incentives
- Successful participating companies may be included in a national Diversity Honour Roll
The Benefits
Diversity in the workplace makes good business sense. Companies that are more diverse:
- are more likely to outperform their peers
- are twice as likely to meet or exceed financial targets
- are eight times more likely to achieve better business outcomes
- generate and foster fresh insights, new ideas and creative solutions
- draw on the full talents of their organizations and people
How to Participate
Companies, not-for-profits and other organizations that are interested in the 50 – 30 Challenge can sign-up by filling in the 50-30 Challenge form.
If you have any additional concerns or questions, you can contact us at [email protected].
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