The 50-30 Challenge: Your Diversity Advantage

The existence of systemic discrimination is not up for debate, as we’ve witnessed with particular intensity through recent events. The status quo is neither sustainable, nor beneficial for Canada.

Improving inclusion and equity at a senior level gives companies a competitive advantage. In short: leadership in Canada should reflect all of the voices that help to shape Canada.

Women, racialized persons, those who identify as LGBTQ2, and people living with disabilities, as well as First Nations, Inuit and Métis peoples are under-represented in positions of influence and leadership in organizations across Canada. Organizations are missing key perspectives that could improve their bottom line, and large numbers of Canadians are being unfairly left out of conversations at a leadership level.  

This is why we've been working with private sector partners and advocacy organizations to co-create the 50 – 30 Challenge, an initiative designed to further advance inclusion, diversity and economic prosperity from coast to coast to coast.

The challenge is rooted in two aspirations: gender parity and significant representation of under-represented groups. The goal is to build the necessary diversity pipeline and supports throughout the corporate and organizational ecosystem to have 50 percent gender parity and 30 percent representation of other under-represented groups on corporate boards and in senior management.

We are investing $33 million to provide the necessary supports and resources to help participating organizations make progress. This includes support for them to develop an online toolkit; programs to assist small and medium-sized enterprises (SME), such as through mentorship and training; and incentives linked to federal programs.

Ultimately, the goal is to enable large corporations, SMEs, post-secondary institutions, and not-for-profit and charitable organizations to make meaningful progress toward achieving the 50 – 30 ambition.

Of course, we know the government does not have all the answers. That is why we engaged the private sector and diversity organizations in a bottom-up approach to develop the challenge. Over the past months, we worked with dozens of organizations that brought their expertise to the table to help shape this important challenge.

So far, more than 500 organizations have signed up, including Hydrogen in Motion, Lockheed Martin Canada, Pinnguaq Association, 3M Canada, Linamar, The University of Alberta, Communitech, KPMG, Mouvement des accélérateurs d’innovation du Québec, and Memorial University of Newfoundland - to name just a few.

We have also enlisted the help of the Standards Council of Canada, Canada’s respected voice and advisor for standards and accreditation. It will engage with diversity organizations in developing a guidance document to serve as a roadmap for organizations to achieve measurable and concrete changes.

Diversity progress will look different depending on the sector, region, size or sector of the economy, but what matter is a commitment to the effort. I understand the challenge will have some early successes and some that may take longer.

What is critical is that we remain dedicated to making progress.

Make no mistake: we are not starting from scratch. Over the past few years, the government has introduced complementary measures, such as the Women Entrepreneurship Strategy, diversity disclosure requirements for companies, a charter on equity, diversity and inclusion for post-secondary institutions, and the recently announced Black Entrepreneurship Program.

As with those measures, I am just as committed to this challenge—not simply because it is the right thing to do but also because it is the smart thing to do.

Studies have shown that companies that are diverse at the board and senior management levels are more likely to outperform their peers, twice as likely to meet or exceed financial targets, and eight times more likely to achieve better business outcomes.

Canada’s greatest resource is its people - and businesses benefit from having the right people in the right places. In the weeks and months ahead, I look forward to working with private sector and diversity organizations as we move forward in taking advantage of all the benefits that diversity and inclusion bring.

Learn more or sign up for the Challenge today: http://www.ic.gc.ca/eic/site/icgc.nsf/eng/07706.html