June 28, 2012 by Ilene H. Lang
Check out the latest buzz surrounding Men Advocating Real Change, plus new Catalyst research on Canadian capital markets and the benefits of paying it forward to the next generation of up-and-coming leaders. What well-worn myths did we bust this time? Find out below.
Tipping the Scales for Women in Capital Markets
Women represent 10 percent of managing directors or higher within Canada’s capital markets industry—and little has changed in a decade. “The numbers are pretty dismal in Canada,” said Gordon Nixon, chief executive officer of Royal Bank of Canada and one of three Catalyst Canada Honours 2012 Champions. Yet Nixon remains optimistic: “It doesn’t mean corporate Canada is bad, it just means there are always opportunities to do more.” So how do we tip the scales? Investing in the career development of high-potential women through sponsorship is among the most crucial industry recommendations in our new report, Women and Men in Canadian Capital Markets.
Queen Bees Buzz Off
Another myth bites the dust. High Potentials in the Pipeline: Leaders Pay It Forward showed that women do help other women rise to the top, and are reaping the rewards for doing so. Paying it forward, we found, is not only a selfless act. “It’s really a win-win,” said Catalyst’s Christine Silva, Senior Director, Research. “It creates a culture of talent development where everyone recognizes her role in developing a good pipeline of leaders.”
Bring In The Men
Researchers at UNC Chapel Hill, NYU, and the University of Utah recently found that men whose wives don’t work outside the home are less likely to treat women with respect in the workplace and are more likely to believe women are unsuited for the corporate world. Addressing misconceptions about women and their abilities is one of the many aims of MARC—Men Advocating Real Change. “MARC showcases white men with executive-level experience saying that equality is important for everyone. That’s powerful in and of itself, but also powerful in emphasizing that workplace equality is everyone’s issue and everyone’s responsibility,” said Fiona McQuarrie, a faculty member in the School of Business at the University of the Fraser Valley. “This might be the small thing that makes really big things happen,” she added. I couldn’t agree more!