A culture of inequality continues to persist in CanadaB次元官网网址檚 capital markets sector and the brunt of it is felt by women and people who are racialized, Indigenous or identify as LGBTQ2S+, a new report says.

According to a study of 600 Canadian finance workers conducted by Women in Capital Markets in 2019 and released Wednesday, only half of women believed they are treated equally and have the same access to opportunities as other genders at their firm and just one-third thought their company is free from gender bias and that the promotion process is fair and objective.

Nearly 60 per cent of men said their workplace was free from gender bias, a rate double that of women, and 75 per cent of men believed harassment wasnB次元官网网址檛 an issue at their employer.

B次元官网网址淔or corporate Canada, we have a lot of work to do and the most frustrating point is how far we have to go with the BIPOC (Black, Indigenous, people of colour), LGBTQ community and women more generally. We just have miles to go,B次元官网网址� said Camilla Sutton, the president and chief executive of Women in Capital Markets.

The study revealed that Black women were the least likely to say they were treated equally by their firm and manager, and the least likely to perceive they have equal career opportunities. They were most likely to report being afraid for their personal safety at work.

Data also showed that more than half of people identifying as LGBTQ2S+ (lesbian, gay, bisexual, transgender, queer or two-spirited) in CanadaB次元官网网址檚 capital markets industry refrained from talking about their personal lives at work for fear of others making assumptions about them, and this group reported the lowest satisfaction with their employerB次元官网网址檚 efforts to promote diversity and inclusion.

The report also revealed that concerns over pay disparities in the sector are ongoing.

Only 34 per cent of women surveyed believed they were paid equally to other genders, despite there being equal pay provisions in the Employment Act, Sutton said.

B次元官网网址淲hen I talk to leaders, all of them really authentically guarantee to me that they are paying their women equally and are frustrated by that,B次元官网网址� she said.

B次元官网网址淢aybe itB次元官网网址檚 a perception gap. Maybe itB次元官网网址檚 a realistic representation of the pay gap. Or maybe the truth is somewhere in between, (and) the people need to be much more transparent.B次元官网网址�

Her organizationB次元官网网址檚 report provides pages of suggestions for how companies can work toward fixing diversity and inclusion problems.

The recommendations include ensuring pay equity, requiring a diverse slate of candidates when hiring, establishing an ombudsperson office to deal with complaints of harassment and implementing representation targets with clear timelines.

Sutton is crossing her fingers that these steps are heeded by companies in financial services, who often outperform other sectors when diversity is measured broadly but still have work to do.

She hopes the report will also dispel some myths about womenB次元官网网址檚 goals and needs.

The study found women and men are equally ambitious with 67 per cent of both genders saying they aspire to reach the executive level or C-Suite in their careers and 72 per cent of women and 63 per cent of men saying they expect a promotion in the next five years.

When asked to rank the importance in their careers of development opportunities, compensation, title, work/life balance and enjoying their job, 15 per cent of men and 14 per cent of women rank work/life balance as most important B次元官网网址� an affront to the common perception that women value family responsibilities more than men.

The study also showed that more than half of men and three-quarters of women believe there are enough qualified women in the talent pool, but almost 25 per cent of men believe a lack of qualified women is the reason their workplace isnB次元官网网址檛 gender balanced.

B次元官网网址淚 hear repeatedly that B次元官网网址業B次元官网网址檇 love to hire women, BIPOC, but I just canB次元官网网址檛 find talentB次元官网网址� and I think that the line of thinking really doesnB次元官网网址檛 hold water anymore and we need to push beyond that,B次元官网网址� she said.

B次元官网网址淭he talent might not be there but not in the same network as more traditional talent and this is not about lowering the barriers.B次元官网网址�

Tara Deschamps, The Canadian Press

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