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As businesses begin to rebuild their workforce, here are four lessons from trailblazing Canadian women who have risen through the ranks of traditionally male-dominated fields.
From mining and energy to manufacturing and finance, many sectors leading Canada’s GDP are facing a dilemma. They’re struggling to secure the diversified workforce they need to unlock long-term value and stay competitive in today's global economy. Mass retirement of legacy workers and the decline of graduates pursing these fields, mixed with negative industry perceptions, are leaving companies scrambling to build a sustainable workforce for the future.
Recognizing these factors, businesses need to create and deploy creative attraction and retention strategies that will secure the next generation of talent. At the heart of these strategies needs to be a focus on diversity, equity and inclusion (DE&I). Nearly 90% of respondents in a recent EY survey said that cultivating a climate that values diverse perspectives is important — and half have left a job where they felt DE&I wasn’t prioritized. Without DE&I at the centre of their approach, companies risk depriving themselves of a huge talent pool as well as the proven benefits of a diverse workforce.
As businesses begin to rebuild their workforce, here are four lessons from trailblazing Canadian women who have risen through the ranks of traditionally male-dominated fields.
Explore untapped talent pools
Linda Hasenfratz, Executive Chair and CEO of Linamar agrees that “we need to tap into 100% of the population and maximize our access to the talent pool because, at the end of the day, diverse teams generate unique perspectives and perform better.”
According to Statistics Canada, minority groups will represent a third of the Canadian population by 2031. To get in front of this growing group, many companies need to accelerate their recruitment efforts at lightning speed. And these efforts will translate into tangible outcomes — companies that prioritize DE&I are 45% more likely to improve their market share and 70% are more likely to experience success in new markets.
Put authenticity at the forefront
In a recent interview for the EY Leading Women in Mining series, Sophie Bergeron, Vice President of HSEC Rio Tinto Minerals, shared that she’s a big believer in staying true to who she is and leading with her personal values.By embracing all differences, businesses can create a sense of belonging for everyone. When women feel free to be their authentic selves, they can bring their best self forward, contribute fresh perspectives and deliver innovative solutions.
Build confident leaders
Janice Lin, Managing Director and Head of Real Estate Canada at Blackstone, firmly believes that representation and advocacy create an impact. Her advice is to “find new opportunities and believe in yourself to go after them — drop the self-limiting thoughts and don’t let the fear of failure keep you from chasing exciting experiences.”
Real progress requires people to put what they’re after out into the world. Creating a culture where employees can raise their hands for opportunities can give women the confidence to advocate for themselves, build visibility and access new challenges or responsibilities.
Empower other women
Myriam Gafarou, Enterprise and Risk Leader at EY Canada, has learned that it’s all about paying it forward, sharing that “helping other women advance and enabling them to distinguish between their goals and the steps needed to achieve them” has become core to her leadership style.
Women must support other women. Making personal investments that empower the next generation of leaders and giving them the tools necessary to build their own success is crucial. Not only can mentors offer guidance and support, but they create a safe space for honest discussion around goals and avenues to advancement, while opening new doors and offering networking opportunities.
Taking an intentional approach to DE&I is key to helping businesses reframe their future and for the recovery and advancement of Canada’s economy, but it's a difficult process that requires persistence and determination. By taking bold action today, companies can create a sustainable and diverse workforce that fuels belonging and inspires future generations of women to reach their full potential.
Linda Williams is the Managing Partner EY Accounts, Markets & Growth Leader at EY Canada
Summary
Linda William’s shares lessons learned from four trailblazing women who are staying authentic to themselves and their values, while rising through the ranks of male-dominated fields or organizations.