National Bank of Canada | Women managers: promotions and advancement at National Bank of Canada

Status
Withdrawn
AGM date
Previous AGM date
Proposal number
5
Resolution details
Company ticker
NA:CN
Resolution ask
Report on or disclose
ESG theme
  • Social
ESG sub-theme
  • Diversity, equity & inclusion (DEI)
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
It is proposed that the Bank publish, every year and in a form of its choosing, a report on the representation of women among its managers, from entry level to the highest level immediately below the president. 
Supporting statement
The pandemic has completely changed workplaces and the economy. It has hit women particularly hard, as millions of them have had to quit their jobs or opt for part-time work or have been laid off altogether given the nature of their jobs or their economic sector. This situation is leaving companies with far fewer women in management or on the path to management—exacerbating an already existing issue. According to a McKenzie study, while women accounted for 50% of entry-level employees in the organizations surveyed, they made up only 31% of vice-president positions and 14% of CEO positions, as this chart illustrates. Measures do exist to “reduce the potential career and financial impact women face after extended unpaid parental leave and subsequent part-time employment,” as women are still more likely than men to be in these employment situations, which is a barrier to their advancement. Companies cannot risk losing more women in management positions. The report being proposed will paint a picture of the situation at the different organizational levels, encourage senior leaders to set gender targets for each level, and inform all stakeholders about the strategies that will be deployed to ensure a robust recovery, especially after the health crisis. 

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