Friday Fix: The Equity Equation Pushes for Diversity in Finance
Friday Fix is a weekly feature of all the things you should know before heading into the weekend.
A new report from WCM found that only 55 percent of women in the Canadian finance industry believe they are treated equally in the workforce. More so, only 38 percent of people who identify as LGBTQ2S+ feel the same.
The Equity Equation is an industry-wide study to determine employees’ experiences. WCM hopes the report will inform the finance industry about where it’s falling short on diversity practices—and how it can do better. Within the report it found that Black women report the most inequitable experiences, women face a more negative work experience overall and equal pay is still a concern.
Camilla Sutton, President and CEO of WCM, says that while some of the findings were discouraging, there’s still room for improvement and changing the trends, “I think what is most powerful is actually the action plan and driving solutions.”
Within the Equity Equation, WCM has laid out recommendations to better ensure equity within the finance sector:
Make and articulate a commitment to equity.
Build equity, diversity and inclusion literacy of all employees.
Fix and focus on the system, not the individuals.
Implement targets for a set period of time.
Eliminate harassment and discrimination.
Be fully transparent. Measure, monitor and report on progress.
Sutton believes that now, more than ever, organizations have the responsibility and the chance to implement real change into the industry.
“One of the things COVID-19 has done is shone a light on the inequities that existed and has really brought them to the surface,” said Suttton. “What we’ve discovered is that diversity and inclusion has become critically important and recognized by organizations. This is exactly the time that we need to focus on this.”
As a not-for-profit with the mission of accelerating equity, diversity and inclusion in capital markets, WCM is championing diversity in the workplace. Sutton hopes that reports like the Equity Equation will prompt real change within the finance industry.
While external organizations like WCM and social movements like Black Lives Matter can encourage industries to reflect on their diversity and inclusion, it’s up to companies to actively seek out solutions and work on it themselves.
“Sometimes people say that marginalized people should be leaning in, but I think you can flip that and say it’s actually the organizations that should be leaning in to those populations,” said Sutton. “That’s when we’ll get real change.”
Read the Equity Equation here.
Cake boss, Buddy Valastro, is bringing his world-famous cakes to your front door.
Based in Hoboken, New Jersey, Carlo’s Bakery became an international hit after viewers got an inside look at all of the work that goes into making their over-the-top cakes and pastries. Now, you can taste a slice of the phenomenon from the comfort of your home.
The lively family bakery is now offering full cakes and individually packaged cake slices (perfect for social-distanced sharing!) for delivery. From chocolate fudge to carrot and red velvet, there’s a flavour for everyone—but, if you can’t make up your mind, they offer a slice sampler, so you can test out eight of their best selling cakes.
Each cake is baked in Hoboken and shipped with dry ice, to ensure they arrive fresh, moist and ready for their Instagram closeup.
If you’re located in the GTA, you’re in luck! Skip the delivery and try out these tasty treats from one of 10 Carlo’s Bakery vending machines across the city. Indulge your sweet tooth at these locations.
Need to Know
Continuing to stay motivated through the pandemic can be difficult. Staying on top of industry trends and continuing to network—despite the distance—can help boost your confidence and reinvigorate the passion for your career.
Global ResearchTech company, Delvinia, is hosting a free 24-hour online summit that focuses on exploring how global leaders and experts are using data and market insights in exciting, innovative ways.
On November 12 and November 13, Amplify 24-Hour Global Summit attendees will be able to follow along no matter where they are situated. The online event is organized around three global time-blocks – North America, UK Europe and Australia/NZ/Asia.
The online event will feature Breakout Tracks to hear from thought leaders, Mentor Minutes to meet with senior leadership from your respective fields and Keynote speakers.
The best part? Registration is free! For every conference-goer who attends two online sessions, Delvinia will donate $10 to the Marketing Research Education Fund.