In several innovative sectors, including digital, artificial intelligence and automation, women are conspicuous by their absence. In the manufacturing sector, the spearhead of the Quebec economy, they represent only a quarter of the workforce.

Even pay equity, which seems basic to us, is not yet in place: the average salary of a woman remains lower than that of a man. And the gap is more pronounced as you climb the ladder: female executives earn 56% less than men in an equivalent position.

Gender diversity = Performance + innovation

McKinsey reported in 2017 that Canada could increase its GDP by $150 billion by 2026 by closing the gender gap in workforce participation. In 2019, SPG released a report stating that “companies with high gender diversity on their boards are more profitable than those with low diversity.” It concluded that “when women lead, companies win.”

The increased presence of women among employees, managers and directors:

• Stimulates innovation, creativity and productivity

• Ensures better financial performance

• Has a positive impact on staff engagement and retention

• Improves an organization's environmental responsibility and reputation

The Factorial Toolbox

For several years, Investissement Québec has been committed to increasing the representation of women and establishing a workplace where equality reigns. Although financial institutions are still too often dominated by men, Investissement Québec has become a model in terms of parity. After long-term efforts, the Crown corporation can boast of employing 53% women. In addition, 45% of them are managers, and senior management and the board of directors are gender-balanced.

For this institution serving the Quebec economy, productivity comes through inclusion.

This month, Investissement Québec is launching Factorielle , a practical online guide and work tool to enable other companies to follow suit.

• How can you assess whether your current practices promote equity, whether it is your salary policies, access to training or the organization of working time?

• What questions can you ask in a job interview?

• How to implement quota strategies that do not offend professional sensibilities and skills?

The toolbox which also identifies some “false good ideas” that we might have…

It also lists the ten best management practices to promote gender diversity in business. These include:

• Mentoring and sponsoring women

• Offer flexible working models

• Involving men

• Measure, measure, and measure again

If we have piqued your curiosity and you want to self-assess to move towards happy, productive and confident diversity, it's this way !