Diversity makes business sense, Toronto firms told

11 May 2010

Canadian businesses have been urged to gain a competitive advantage by embracing diversity at all levels, including the boardroom.

During an address to the Canadian Club of Toronto on Monday (May 10th), governor general Michaelle Jean said the future of Canada's economy may depend on firms taking the lead on this issue, the Toronto Star reports.

The speech indicated that changes to traditional executive recruitment practices could be required, as she called for Canadian people of diverse backgrounds to be considered for leadership and management roles.

"To me, investing in diversity makes sense. It makes business sense," Ms Jean told the city's corporate leaders.

"Saying yes to diversity is saying yes to modernity, to opportunity and to the very future of our country," she added.

The newspaper reports that the DiverseCity training programme, launched in 2008 by the Maytree Foundation and the Toronto City Summit Alliance, has produced a number of "rising stars" recruited from different racial and ethnic backgrounds.

As the city houses Canada's financial centre, Bay Street, diversity campaigners are keen for Toronto-based firms to set an example to organisations throughout Canada with their recruitment strategies.