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.
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