Innovation Creativity Dept: Nearly half the population is non-white, yet only 14 per cent of leaders from the corporate, public, elected, education and non-profit sectors in the Greater Toronto Area are non-white, according to a new study by Ryerson University’s Diversity Institute. Those numbers are highest at agencies, boards and commissions 22 per cent , and lowest in the corporate sector and on the boards of media organizations 4.8 per cent . Visible minorities comprise 15. 4 per cent of elected officials, according to Globe And Mail. Diversity in leadership leads to greater prosperity. It can strengthen social cohesion, innovation, creativity and productivity. A study conducted by Rutgers University and Iowa State University has found that ethnic and gender diversity on boards of directors at 112 U.S. companies tracked between 1993 and 1998 helped improve performance, as measured by return on assets and investment. Why? Diverse leaders engage in “constructive conflict,” and help companies take risks and if Canadians want this approach to remain successful, they must be prepared to share the corridors of power with newly-minted citizens, many of whom hail from China, Sri Lanka, India and the Philippines. Even in Toronto, Canada’s most diverse city, this has not happened. The report, which looked at 3,348 leaders, is a black eye for Canada. If the initiative and talent of newcomers, most of whom are better educated than native-born Canadians, are not rewarded, then they are robbed – and Canada is, too. The report quantifies this lack of inclusiveness at senior levels. The Conference Board of Canada estimates that unemployment and underemployment of immigrants cost the economy between $3.4-billion and $5-billion a year. There are missed opportunities in investment, global markets and leadership. As
reported in the news.
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13.6.10
