A diversity assessment measures an organization’s progress in increasing diversity and inclusiveness. As part of a larger study, this paper examines and analyses the application of the Diversity Audit Tool (DAT) to the Canadian Financial Services sector to the status of women’s representation within the workforce. The DAT assesses policies and practices to increase diversity and inclusiveness not only on human resource functions but also how diversity can be integrated throughout the organization’s value chain. As an exceptionally adaptable and flexible tool, the DAT has been previously applied to education, health care, police services, and information and communications technology (ICT) sectors; it is generalizable enough to examine diversity initiatives across a number of groups as well as to focus on a single one, as it does in this study.
This paper begins with a discussion of the current status of female workers within this sector and identifies a number of barriers that prevent full workforce participation and inclusiveness. The DAT is systematically applied to the financial services sector (reproduced in Appendix 1) and the findings are discussed, examining six key areas: leadership and governance, human resource practices; quality of life and organizational culture; measuring and tracking diversity; integrating or mainstreaming diversity across the value chain; and developing the pipeline. Finally, these findings will be discussed and conclusions will be made.
|Keywords:||Diversity, Leading Practices, Diversity Audit Tool (DAT), Inclusiveness, Canada|
Toronto, Ontario, Canada
Research Analyst, Diversity Institute, Ryerson University, Toronto, Ontario, Canada
Ryerson University, Toronto, Ontario, Canada
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