Material republished from Innovation, Science and Economic Development Canada
The 50 – 30 Challenge is an initiative between the Government of Canada, business, and diversity organizations. Together with project co-creators, many of whom have been striving to increase corporate diversity for decades, the government is shaping a plan to improve access for racialized persons, people who identify as LGBTQ2, people living with disabilities, as well as First Nations, Inuit and Métis to positions of influence and leadership on corporate boards and in senior management.
The goal of the program is to challenge Canadian corporations to increase the representation and inclusion of diverse groups within their workplace, while highlighting the benefits of giving all Canadians a seat at the table. The government has always believed in seeking the best available advice when making decisions. The 50 – 30 Challenge will be developed with the help of decades of expertise from both private sector and advocacy partners and will offer a variety of tools and resources to support participating companies in achieving real results.
The challenge is rooted in two aspirations – gender parity and significant representation of under-represented groups.
- Gender parity (“50%”) on Board(s) and senior management, and;
- Significant representation (“30%”) on Board(s) and senior management of other under-represented groups, including racialized persons, people living with disabilities and members of the LGBTQ2 community. Participants will also be invited to recognize First Nations, Inuit and Métis peoples’ as founding peoples
Company participation will help illustrate the collaborative nature of this approach as those involved work in partnership to design a meaningful challenge. Diversity in the workplace makes good business sense. Companies that are more diverse:
- are more likely to outperform their peers
- are twice as likely to meet or exceed financial targets
- are eight times more likely to achieve better business outcomes
- generate and foster fresh insights, new ideas and creative solutions
- draw on the full talents of their organizations and people
How to get involved?
Companies, not-for-profits and other organizations that are interested in the 50 – 30 Challenge can sign-up by filling in the 50-30 Challenge form.
Learn more on Innovation, Science and Economic Development Canada.