On the heels of new amendments to the Employment Standards Act, 2000, which introduced changes to this law’s equal pay provisions, the Ontario government recently passed The Pay Transparency Act, 2018 (“the Act”). The Act is just one of many components of the Liberal government’s plan.
The gap between men and women is still very significant when it comes to employees in the top ranks of the financial sector. That is, there are still very few women in senior executive roles in Canada’s financial institutions. Worse yet, there are currently no women in line for a CEO position at a big bank.
I just read an interesting report about women in the workplace. Essentially, the report suggests that women remain underrepresented relative to their male counterparts, even though they form a highly educated and skilled labour pool in the market. Given the skills shortage that is expected to occur in the near future due to mass retirements of senior baby boomer workers, this is an unsettling finding. But why is this happening?