Toronto, ON (April 18, 2023) – WCM (Women in Capital Markets) is pleased to recognize 23 of its Canadian financial services organization sponsors that have signed its Parental Leave Pledge.
Launched in June 2022, the WCM Parental Leave Pledge provides a roadmap for organizations to follow to ensure that their parental leave policies and practices are inclusive and equitable to all those who use them, including fathers, non-birth parents, and birth parents.
The 23 signatories include: ATB Financial, Aviso Wealth, Bitbuy, Canaccord Genuity Corp., CPP Investments, Desjardins, DBRS Morningstar, Franklin Templeton, IG Wealth Management, Investment Planning Counsel, IMCO, KPMG, Laurentian Bank, Mackenzie Investments, Manulife, MUFG, Onex, OPTrust, PSP Investments, PwC, Raymond James, Scotiabank, and TMX Group.
“We are encouraged by the commitment of our sponsors who are taking action,” said Lara Zink, President & CEO, WCM, “but we still have a long way to go as an industry when it comes to destigmatizing parental leaves and equalizing childcare responsibilities. I challenge all leaders in the Canadian financial service sector to participate in and amplify this important initiative.”
The development of the Pledge is based on research conducted by WCM that looks at key aspects of inequity in the workforce, in relation to parental leave options. This includes leave duration, the barriers and biases that impact decision making, as well as the challenges faced when returning to work, including an adverse impact on long-term career development.
“I was initially concerned about facing any stigma in taking parental leave given the rigours of working in a competitive capital markets environment. However, in my experience the Canaccord Genuity team has been extremely supportive, flexible, and empathetic,” said Neil Bakshi, Equity Research Associate, Technology & Aerospace, and Parental Leave participant.
“The key to remember,” added Zink, “is that it’s not just about the creation and implementation of a flexible, inclusive parental leave policy, which is an important first step. It’s also about working to help evolve cultural norms and finding ways to foster a more supportive and inclusive work environment for everyone who chooses to take parental leave. Eliminating barriers supports parents of all genders – especially fathers and non-birth parents – to participate equally in their child’s care. It also enables organizations to better achieve their retention and diversity goals. It’s a win-win.”
