Ontario Premier Kathleen Wynne has announced new gender diversity targets to ensure more women have the opportunity to reach top leadership positions at provincial agencies and other government organizations.

The Ontario government has set a target that, by 2019, women make up at least 40% of all appointments to every provincial board and agency. Ontario is also encouraging businesses to, by the end of 2017, set a target of appointing 30% women to their boards of directors. Once businesses set the target, they should aim to achieve it within three to five years.

Facts

  • Women make up half of Ontario’s workforce and more than half of postsecondary graduates, yet they continue to be under-represented in leadership positions — as of 2015, 51% of businesses listed on the TSX had no women on their boards.
  • Since the introduction of the “comply or explain” disclosure requirements, which require TSX-listed companies to report publicly on the representation of women on their boards and in executive officer positions and related mechanisms, policies, considerations and targets, 15% of companies have added one or more women to their boards.
  • Studies show that gender diversity in corporate leadership has measurable benefits for companies. Gender diversity is linked to strong financial performance, heightened innovation and enhanced client insight.