Toronto, ON – October 18, 2016 – Closing the wage gap and engaging more Canadian women in the workforce could lead to $105 billion in GDP growth among other economic benefits in Canada, according to the PwC Women in Work Index 2016. While Canada performs well in comparison to other (Organization for Economic Co-operation and Development) countries, there is still room for improvement.
“We’ve come a long way in Canada in terms of fostering greater diversity in the workplace, but there’s still room to grow and lead the world in shining a spotlight on the importance and value of gender equality at work,” says Karen Forward, Partner, People & Organization, PwC Canada. “Addressing the pay gap in the Canadian marketplace and implementing supportive work environments and policies are table stakes. Change happens when there is a cultural shift and the idea of sponsorship becomes an organic and integral part of strong leadership.”
The PwC Women in Work Index 2016 is a weighted average of five measures that reflect female economic empowerment, including the equality of earnings, the ability of women to access employment opportunities and job security. Canada has been holding eighth position out of thirty-three OECD countries since 2013 and sits five points above the average rating.
The report takes findings a step further and outlines three clear action items, and their benefits, to help advance gender parity in the workplace. These steps include:
Action #1: Close the Gender Wage Gap
Action #2: Increase Female Workplace Participation
Action #3: Improve Female Leadership Representation
For more information on the state of gender parity in the Canadian workplace, as well as other next steps Canadian companies can take to bridge the gap, please view the full report here.
Follow PwC on Twitter at @PwC_Canada_LLP and on Facebook at www.facebook.com/pwccanada.
At PwC Canada, our purpose is to build trust in society and solve important problems. More than 6,500 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with more than 208,000 people in 157 countries. Find out more and tell us what matters to you by visiting us at www.pwc.com/ca.
© 2016 PricewaterhouseCoopers LLP, an Ontario limited liability partnership. All rights reserved.
PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.